Someday the Lakers will be good again. Given their history as a franchise and the seemingly inescapable pull of talent to Los Angeles, it probably won’t be too long before it happens, either.
It’s just not likely to happen with Byron Scott as coach.
Scott’s not a bad coach, although his most recent gig in Cleveland ended after three seasons of disappointment and a 64-166 cumulative record. The main problem for Scott is that Los Angeles brass have sent him on a fool’s errand.
The Lakers finished 27-55 last year, last in their division, second worst in the Western Conference and sixth worst in the entire NBA. They lost their best player from last season, Pau Gasol, to Chicago, and Jodie Meeks, their second best player, to Detroit. Their reinforcements include Kobe Bryant, 35 and coming off another serious injury that limited him to six games last year, and Carlos Boozer, at 32 a longtime defensive non-entity who’s coming off one of the worst offensive seasons of his career. Steve Nash is expected back too, but at 40 it is difficult to expect he will bring anything with him.
They also overpaid to keep Jordan Hill, a useful role player with questionable defence, and Nick Young, also a useful role player with even worse defence – who shoots way, way too much.
To be fair, they also made an astute signing on the cheap of Ed Davis, a solid forward, traded for Jeremy Lin, who can thrive in a supersub role and drafted Julius Randle, a genuinely exciting prospect. But all in all, the Lakers are an objectively bad collection of basketball talent.
This is the fire into which Byron Scott has been thrown. To his credit, the two-time NBA Finals coach with the Nets took over a Hornets team in an equally woeful situation in 2004/05 and had them in the play-offs by 2007/08. But the parallels are only instructive if you think Randle will turn out like Chris Paul, the Hall of Fame talent New Orleans selected with the fourth pick in 2005 and who was largely responsible for the rise of the Hornets under Scott.
Unfortunately for Scott, his Cleveland experience is probably more telling in this regard. LeBron James left the Cavaliers after the 2009/2010 season, Scott was subsequently hired to coach a team mostly devoid of talent and in three years he never could get them to approach respectability.
Scott understands one of the biggest immediate problems facing the Lakers, at least. Los Angeles had the fourth-worst point differential in the NBA last season, despite an offence that ranked 11th by points scored, thanks to the 109.2 points per game they surrendered. Now, they also hoisted the seventh-most field goal attempts per game, meaning some of that eye-popping points allowed total was a result of playing at a fast pace that inflated points totals on both sides.
But 109 is also a lot of points now matter how you slice it.
Scott is saying the right things about improving that, including telling ESPN LA that one of his first texts with Kobe concerned defence. "He told me he was working out with Wesley (Johnson) and Nick (Young)," Scott said. "I told them that sounded great, but they 'better be ready to play some defence'."
Nice as that is, however much Scott emphasises defence as a value or insists his players work on it, the fact is LA don’t have good defenders. Almost up and down the roster, from Nash to Boozer to a hobbled Bryant to Lin to Young to Hill, the Lakers are staffed by players who just aren’t good at defending.
If it didn’t seem like such a heartless thing to do to a franchise favourite who won three titles with LA in the 1980s, and if they hadn’t given him such a generous contract (four years, $17 million (Dh62.4m) according to ESPN LA), it would seem like LA had simply hired Scott, a known entity who’s been around the NBA a bit, because it would be easy to replace him with someone else when they were closer to being a realistic contender.
As it stands, it appears the Lakers genuinely hope he's their long-term coaching answer. Scott had better hope they're patient, that they really mean long-term, because it's going to be at least a few seasons before the Lakers resemble anything like the Los Angeles Lakers again.
In the meantime he can expect a lot of long nights, exasperating 120-105 results and the responsibility of trying to keep poor Kobe, a notorious competitor, from assaulting his teammates.
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The Transfiguration
Director: Michael O’Shea
Starring: Eric Ruffin, Chloe Levine
Three stars
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
Company%20profile
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Traces%20of%20Enayat
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Bullet%20Train
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THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
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.”
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The%20specs
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
The view from The National
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Draw
Quarter-finals
Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)
RB Leipzig (GER) v Atletico Madrid (ESP)
Barcelona (ESP) or Napoli (ITA) v Bayern Munich (GER) or Chelsea (ENG)
Atalanta (ITA) v Paris Saint-Germain (FRA)
Ties to be played August 12-15 in Lisbon
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
KILLING OF QASSEM SULEIMANI
COMPANY PROFILE
Name: Mamo
Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua
Based: Dubai, UAE
Number of employees: 28
Sector: Financial services
Investment: $9.5m
Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.
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