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The Meridian Group and KETTLER Accept Multiple Awards on Behalf of Rise, Bolden, and Verse

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MCLEAN, Va., Nov. 6, 2020 /PRNewswire/ — KETTLER, one of Greater Washington, D.C.'s leading real estate services companies, announces the acceptance of multiple awards for Rise and Bolden Apartments, and Verse Condominiums located at The Boro in Tysons, Virginia.

On October 21, The Meridian Group and KETTLER were honored at the Delta Associates' 24th Annual Market Overview & Awards for Excellence for The Boro apartment buildings, Rise and Bolden, in the category for “Best Washington/Baltimore Mixed-Use Apartment Community;” and for Verse Condominiums in the category for “Best Washington/Baltimore Condominium Community.” Delta Associates has been providing professionals with research and market studies throughout the US for over 35 years and for the last 24 years, Delta Associates has recognized exceptional new projects in the Washington and Baltimore metro areas.

“As business operators in Tysons, KETTLER has felt a tremendous sense of community since the opening of Rise, Bolden, and Verse,” said Cynthia Fisher, President at KETTLER. “It's with great pride that we announce these recognitions awarded by Delta Associates and commend all of the team members involved in bringing these residential buildings to life, and making Tysons a premiere place to not only work and play, but live.”   

Rise, Bolden, and Verse are located in The Boro—a new, upscale mixed-use development in the heart of Tysons, VA. The 32-story-tall Rise has more than 400 luxury apartments, while Bolden, which sits atop a flagship Whole Foods Market, offers 133 boutique residences. Complementing The Boro's eclectic array of destination restaurants and services, Verse is the pinnacle of sophisticated luxury. These residences were designed by architectural firm Shalom Baranes Associates. Verse's interior was designed by Cecconi Simone. Rise's was designed by Perkins Eastman, while the Bolden's interior was done by RD Jones + Associates.

“We are thrilled that Delta Associates recognized all of The Boro's residential offerings as the best in the Washington/Baltimore market,” said Tom Boylan, Senior Vice President at The Meridian Group. “Our teams worked tirelessly to ensure that Rise, Bolden, and Verse offered the best-in-class living environment within our vibrant, mixed-use community.”

KETTLER also received recognition as Development Company of the Year at the Multi-Housing News' Excellence Awards for the company's contribution on The Boro, on November 4th. For more information on KETTLER awards and recognition, visit www.kettler.com.

ABOUT KETTLER
KETTLER is an award-winning, multifamily developer, real estate investment, and property management company. Founded in 1977, the company has developed over 25,000 multifamily units, 5 million square feet of commercial space, more than 71,000 homes in 25 master-planned communities, and many of the D.C. region's premier mixed-use communities. Headquartered in McLean, Va., the company manages approximately 20,000 apartments in the Northeast, Mid-Atlantic, and Southeast regions. For more information, visit www.kettler.com.

ABOUT THE MERIDIAN GROUP
The Meridian Group is a real estate investment and development firm based in Bethesda, Md. Since its inception in 1993, Meridian has acquired and developed more than 14 million square feet of office, residential, hotel, mixed-use, and land with a focus on the metropolitan Washington, DC market. To learn more, visit Meridian's website at www.tmgdc.com.

ABOUT THE BORO
The Boro is a premier, multi-phase development that brings together a vibrant community in the heart of Northern Virginia. Steps from the Greensboro Metro Station along the new Silver Line, adjacent to Route 7, Westpark and Greensboro Drives, this mixed-use residential, retail, entertainment, and office neighborhood captures the spirit of a true downtown experience in Tysons Corner.

After breaking ground in September 2016, The Boro began to deliver luxury residences, destination retail, and superior office spaces across 3.5 million square feet. The neighborhood is distinguished by its accessible streetscapes, pedestrian-friendly roadways, public green spaces, and curated, locally-sourced first-class entertainment, dining, and shopping. For more information on The Boro, visit https://theborotysons.com/.

 

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SOURCE KETTLER

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FirstLight Files to Relicense Western Massachusetts Hydroelectric Assets for 50 More Years of Clean, Reliable Energy and Community Benefits

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FirstLight Power today submitted its combined Amended Final License Application (AFLA) to federal regulators to extend the operating licenses for 50 years for its Cabot and Turners Falls hydroelectric generating stations on the Connecticut River and its Northfield Mountain energy storage facility. These facilities, which provide clean power and long-duration energy storage, will be important contributors to Massachusetts efforts to achieve its goal of reaching net-zero greenhouse gas emissions by 2050.

If approved by the Federal Energy Regulatory Commission (FERC), the new licenses will sustain more than 70 well-paying and union-represented jobs in Western Massachusetts and hundreds of millions of dollars in local property tax payments to Erving, Gill, Montague, and Northfield for another half-century. The new license also ensures continued generation of clean, renewable, locally produced hydropower to more than 1 million New England homes and businesses.

Based on findings from more than 40 detailed scientific studies and years of environmental reviews, FirstLight is committing to $130 million worth of new investments in protection, mitigation, and enhancement (PM&E) measures, foregoing approximately $100 million in energy revenue over the next 50 years by restricting hours of hydropower generation to protect wildlife and habitat, and upgrading recreational facilities in the region. These measures include:

  • $5.6 million in investments to improve recreational facilities on the Connecticut River, including four new access points and boat launches in Montague and Northfield
  • New upstream and downstream fish passage facilities and protective netting at the Northfield Mountain water intake to minimize impacts on fish and marine life from operations
  • Changes in hydropower operations protocols to improve fish migration and spawning and to improve general aquatic habitat for a multitude of plant and animal species
  • And ongoing management plans for protecting bald eagles, long-eared bats, and shortnose sturgeon, maintaining historical properties, and mitigating the spread of invasive species.

FirstLight CEO Alicia Barton said: Northfield Mountain and our Cabot and Turners Falls facilities are delivering a significant portion of the zero-emissions clean power available to New Englands electric grid today, and they are poised to play an even more important role in the decades ahead as Massachusetts scales up renewable energy to achieve its ambitious goal of net-zero emissions by 2050. We are proud to be able to strengthen FirstLights longstanding environmental stewardship in the region and support environmental and species protection, preservation of clean energy jobs, and investment in the local economy, all while combating the existential threat of climate change.

FirstLight also acknowledged the contributions of the many stakeholders who provided valuable input into the process of developing the AFLA, including environmental and recreation organizations, tribal representatives, historical and cultural officials, and local, state, and federal agencies. The engagement of these stakeholders has been an important part of the development of this application, and we look forward to continuing to work with them as the process advances, said Barton.

The 1,168-megawatt Northfield Mountain pumped-storage facility, known as New Englands biggest and greenest battery, was originally completed in 1972 and can store enough power to serve 1 million homes for more than 7 hours every day. This makes Northfield Mountain both a critical resource for ensuring reliable power and an ideal backstop for large-scale wind and solar power to reduce regional greenhouse gas emissions. To bolster its value to the reliability of the New England electric grid and to the regions carbon reduction goals, FirstLight is asking FERC to make permanent the allowed use of existing storage capability at Northfield Mountain that FERC has granted during seasonal peak times in the past.

Cabot-Turners Falls is Massachusetts largest conventional hydropower facility and consists of the 62-megawatt Cabot Station, first put into service in 1916, and 6-megawatt Turners Falls station just upstream, commissioned in 1905.

As part of its stewardship of the local environment and approximately 4,000 acres of land in Western Massachusetts associated with the facilities, FirstLight already provides access to some of the areas marquee outdoor recreation sites, including the Northfield Mountain Recreation and Environmental Center, the Turners Falls Fishway, Riverview Park, and the Barton Cove and Munns Ferry campgrounds. The new river access points will provide kayakers, canoers, hikers, and other visitors with even more options to enjoy the river and its wildlife.

Extensive research for the 700-page AFLA, including analysis by the nations leading riverbank-erosion scientist, confirmed that FirstLights operations affect riverbanks in only two locations, one of which has already been remediated. In the second location, research showed, naturally high river flows and boat wakes account for the vast majority of riverbank impacts, with only 8 percent of impact attributable to hydroelectric operations by FirstLight. The study confirmed that the steps FirstLight has completed to date to mitigate shoreline erosion issues have satisfactorily addressed all impacts related to hydropower operations.

The full license application and associated public notices for the AFLA may be found HERE.

ABOUT FIRSTLIGHT POWER

FirstLight Power (FirstLight) is a leading clean power producer and energy storage company in New England with a portfolio that includes nearly 1,400 megawatts of pumped-hydro storage, battery storage, hydroelectric generation, and solar generationthe largest clean energy generation portfolio in New England today.

Len Greene, Director of Government Affairs & Communications

Office: 413-659-4426, Cell: 860-795-4310

Peter J. Howe/Denterlein strategic communications and PR: 617.482.0042 or [email protected]

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Salaries set to rise in 2021, but employers in the Philippines signal increased caution, says Mercer survey

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  • Companies forecast a 5.6% overall increase in salaries for 2021, but more than half say they expect changes to salary increment levels.
  • Nearly seven in 10 companies have implemented a hiring freeze
  • 14% of companies expect lower bonus payouts for 2021, with one in two stating it is too early to tell

MANILA, PHILIPPINES – Media OutReach – 1 December 2020 – Salaries in the Philippines are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic. Companies in the Philippines are forecasting an average 5.6% overall increase in salaries for 2021, up from 5.3% this year.

 

This is according to the annual Philippines Total Remuneration Survey (TRS) 2020 by Mercer, a global consulting leader in talent, health, retirement, and investments. The survey polled 416 companies across multiple industries in the Philippines between April and June this year, with additional surveys conducted in July and August in light of the fast-changing market environment.

 

The projected salary increments come on the back of an uncertain economic outlook for the Philippines, with Gross Domestic Product (GDP) expected to contract by 8.3% this year. While growth is expected to rebound to 6.5% [1]in 2021, downside risks such as a slower-than-expected global recovery that could weigh heavily on trade and investment, have resulted in caution among companies.

 

Floriza Molon, Mercer’s Career Business Leader for the Philippines said, “Due to the uncertainty, more than half of the companies have indicated that they will delay the increase of salaries or revise salary increment levels. With sustained pressure on businesses to keep costs down, we see that companies are taking a cautious approach with regards to salary budgets.”

 

Across industries surveyed, the Chemical industry is expected to see the biggest rebound in salary increments at 5.5% in 2021, up from 3.9% in 2020. The Consumer, Life Sciences, Energy as well as Retail and Wholesale industries also saw slight increases compared to last year.

Ms Molon added, “While the salary increase budget remains stable in spite of the pandemic, what we are seeing is that companies are increasingly prudent with their compensation policies as well as the allocation of the salary budget. Some of the considerations include how business-critical the roles are, the potential and performance of the employees, flight risk and availability of jobs in the market.” 

Variable Bonuses for 2020 remained stable, but decreases expected in 2021


Overall, average budgeted bonuses for 2020 dipped slightly at 16%, compared to 17% in 2019. The Life Science industry saw the highest increase at 23% compared to 20% in 2019, while bonus payouts decreased in the Consumer, Logistics and Shared Services & Outsourcing industries.

Ms Molon said, “91% of companies provided bonuses in 2020, reflecting their strong performance in 2019. However, we foresee a decrease in bonus payout in 2021 due to the uncertain economic environment.”

Looking ahead, 14% of companies expect the bonus payout for 2021 to be less than the previous year, while 50% say it is too early to tell. Only 8% of companies expect budgeted bonuses to increase in 2021.

With the cautious business outlook, recruitment efforts are expected to slow in the year ahead. 69% of companies in the Philippines indicated that they have imposed a hiring freeze in 2020, with 10% reducing headcount due to the pandemic.

Embracing Flexible Working


The survey has also seen a shift to remote working arrangements among companies in the Philippines. 67% of the organization have implemented remote working arrangements in response to the COVID-19 outbreak with 58% projecting that employees will be more likely to use flexible working arrangement post-pandemic.

Teng Alday, Mercer’s CEO for the Philippines said, “Companies in the Philippines have successfully implemented flexible work arrangements amid the pandemic, with only 14% of companies stating a decrease in the level of productivity. We foresee more employers embracing flexible working arrangement which provides an opportunity for companies to review their compensation and total rewards packages more holistically to adopt variable pay and other reward initiatives such as work-from-home allowances to recognise and retain critical talent.

“As the financial impact of the pandemic continues to play out, companies are taking a cautious approach in light of cost pressures and the need to protect their core business. We encourage companies to adopt strategies that balance economics and empathy as employee engagement and retention will be critical in their road to recovery.”

About Mercer’s Total Remuneration Survey

The Total Remuneration Survey, Mercer’s flagship annual compensation and benefits benchmarking study, identifies current pay practices and benefits policies, as well as budget, hiring and turnover trends for the year ahead. In addition, Mercer also conducts regular pulse surveys throughout the year to keep up with the impact of the rapidly changing business environment and compensation and workforce trends.

For more data and insights from Mercer’s Philippines Total Remuneration Survey 2020, please see here.

About Mercer

Mercer builds brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 25,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a business of Marsh & McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 75,000 colleagues and annualized revenue approaching $17 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter [View Image]@Mercer.

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Lee Kum Kee Sauce Group Appoints Ms. Katty Lam as Chief Executive Officer

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HONG KONG SAR – Media OutReach – 1 December 2020 – Lee Kum Kee Sauce Group announces the appointment of Ms. Katty Lam as Chief Executive Officer with effect from today.

[View Image]

Ms. Katty Lam has over 25 years’ work experience with renowned multinational food companies. Prior to joining Lee Kum Kee, Ms. Lam was Danone’s Regional Vice President, Greater China — Early Life Nutrition Division. Began her career with KPMG as an auditor, Ms. Lam later joined PepsiCo China, with her last position being the Chairman, Greater China Region. During her 22-year tenure with PepsiCo, she served in different management roles in finance, marketing, beverage bottling and foods operations. Ms. Lam holds an MBA from the University of Portland, US, and a bachelor’s degree in Accountancy from the City University of Hong Kong.

Mr. Charlie Lee, Chairman of Lee Kum Kee Sauce Group, welcomed Ms. Lam: “With her extensive experience, Ms. Lam will lead the Group’s overall business strategy and development, strengthen collaboration and drive innovation initiatives to ensure the Group continues to be recognised as a global leader in Asian sauces and condiments. Together, we will work towards our vision of ‘Where there are people there is Lee Kum Kee’.”

ABOUT LEE KUM KEE

Lee Kum Kee was established in 1888 by its founder Mr. Lee Kum Sheung. With its sustainable development in 132 years, Lee Kum Kee has become a household name of sauces and condiments, as well as an international brand and “a symbol of quality and trust”. Spanning over three centuries, Lee Kum Kee is a globally renowned multinational corporation offering over 200 types of sauce and condiment to over 100 countries and regions. Please visit www.LKK.com for further details.

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