Former players, foes remember Joe Paterno


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Former Penn State star Lydell Mitchell visited Joe Paterno about a week and a half ago, hoping to get just a moment with his ailing coach

After an emotional hour and a half, Mitchell said goodbye and told Paterno that he would always have the support of his players.

"I said, `Hey, man, we love you'. We'll fight the fight for him," Mitchell said Sunday after Paterno died at age 85.

"Joe's legacy will always be intact because we won't let Joe's legacy die," said Mitchell, who played running back at Penn State from 1968-72.

Paterno won more games (409) than any coach in major college football history during 46 seasons at Penn State.

"I think history will say that he's one of the greatest," former Florida State coach Bobby Bowden, second on the wins list, told The Associated Press.

"Who's coached longer? Who's coached better? Who's won more games? Who's been more successful than Joe? Who's done more for his university than Joe? You've lost one of the greatest. He probably means the same thing up there that Bear Bryant meant down here. He's an icon."

Paterno died from complications of lung cancer less than three months after he was ousted amid a child sex abuse scandal involving one of his former assistants.

"It's just sad because I think he died from other things than lung cancer," former Penn State tight end Mickey Shuler said.

Paterno began his coaching career at Penn State in 1950 as an assistant coach under Rip Engle.

That is when Pro Football Hall of Famer Lenny Moore played for the Nittany Lions. Moore joined Mitchell - they both played for the Colts and live in Baltimore - for that trip to State College a couple weeks back.

Moore said he, Mitchell, Paterno and Paterno's wife, Sue, sat around the kitchen table and talked until it got dark and the visitors needed to get back.

"We talked the whole time and he was very together," Moore said. "Didn't look like he was having any pain. We told him we loved him and we left.

"I'm glad that we had the opportunity to do it. And I was glad that I told him how I felt about him."

Mike Guman, who played fullback for Penn State in the late 1970s, said the Paterno's legacy will be carried on by the many people whose lives he has touched.

"Football's a small part of his legacy, but it goes far beyond that," he said.

"You could have become a good football player at many places but you wouldn't have become the man you are if you didn't go to Penn State."

Guman said he didn't think Paterno was treated fairly at the end of his time at Penn State and Mitchell agreed.

"They knew Joe was going to retire (at the end of last season)," Mitchell said.

"They could have let that play out but I think they panicked and jumped the gun."

Ohio State coach Urban Meyer said he was fortunate to have developed a personal relationship with Paterno over the last few years

In Meyer's last game at Florida, his Gators beat Penn State.

"We have lost a remarkable person and someone who affected the lives of so many people in so many positive ways," Meyer said in statement.

"His presence will be dearly missed. His legacy as a coach, as a winner and as a champion will carry on forever."

* Associated Press

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH DETAILS

Chelsea 4 

Jorginho (4 pen, 71 pen), Azpilicueta (63), James (74)

Ajax 4

Abraham (2 og), Promes (20). Kepa (35 og), van de Beek (55) 

The years Ramadan fell in May

1987

1954

1921

1888

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The specs

Engine: 5.2-litre V10

Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

Price: From Dh1 million

On sale: Q3 or Q4 2022 

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

'Top Gun: Maverick'

Rating: 4/5

 

Directed by: Joseph Kosinski

 

Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris

 
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Your rights as an employee

The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.

The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.

If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.

Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.

The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

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