...and future development of the City. The economy is benefiting from these development and the GRP amounts to $22 million. The expansion and modernization of the city is a source of job creation and the set up of the University 50 years age, is contributing in the high standard of living of the population. INPEX LNG With the INPEXLNG processing plant, Darwin is positioning itself as a strategic international hub for Liquid Natural Gas (LNG). With a population of around 245,000, the development of this industry is an economic and social challenge for Darwin. It is expected that there will be a mix of positive and negative impact. In 2008, INPEX Corp showed interest in building and operating an LNG plant near Darwin and this will involve the extraction of natural gas from the offshore of North West of Australia and piping it sub sea to be redirected to a processing plant that will be located in Darwin. In 2012, the necessary infrastructures and the plant was set up in Darwin. The Government welcomed this project and described it as a driver of economic prosperity for Darwin. The plant production capacity was estimated to be more than 3 million tonnes per year and LNG will be sold to Tokyo electric and Tokyo Gas based on a long term deal. The Economic Impact The high...
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...Petronas' venture into the liquefied natural gas (LNG) industry more than three decades ago marked Malaysia's entry into the modern gas era. When substantial gas reserves were discovered in Sarawak's Central Luconia basin in the 1970's, it was hoped that monetising this resource would bring revenue and foreign exchange needed to spearhead Malaysia's socio economic development and nation building. It was also realised then that Malaysia's proximity to industrialised Japan, opened the opportunity for PETRONAS to tap into an important energy market in need of a cost effective, efficient and cleaner energy resource. PETRONAS,Shell BV and Mitsubishi held talks which resulted in the birth of a partnership to undertake Malaysia's first LNG project, realised through the incorporation of Malaysia LNG Sdn Bhd or MLNG on 14 June 1978. The MLNG project was Malaysia's largest and most ambitious industrial undertaking at the time and the Malaysian Government established a special LNG task force to see to its successful completion. The MLNG project at that time was also the nation's single largest investment in manufacturing and required what was considered a quantum leap in technology and knowledge acquisition. Beyond the construction of the plant, the MLNG project also involved the construction of a jetty, the acquisition of LNG carriers, the establishment of infrastructure and amenities and the training of human resource. Through hard work and perseverance, the partners in the initial...
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...Abstract The intent of the paper is to examine current trends in the most commonly defined contribution retirement plan, the 401(k) plan. It will outline the best course of action to achieve an effective plan and maximize employee participation. This paper will review current mandates regulated by government agencies and explain the importance of remaining in compliance. Finally, the paper discusses best practices for implementation, as well as the best ways to promote a 401(k) plan within your organization. Throughout the process the details of the 401(k) plan at Tampa Bay & Company, a small sized organization, will be compared to other non-governmental company 401(k) plans to highlight specific examples and draw comparisons. Overall 401(k) Trends In response to the economic downturn there has been an increasing surge of employers who are lowering benefits associated with 401(k) plans. The most common trends are employers reducing the amount of match, reducing the portion of the match, or eliminating the match altogether. Over the past couple of years several surveys have been completed by investment firms, revealing that the number of employers who have decreased company contributions is on the rise. Some surveys show as low as a 7% decrease, but the majority of surveys claim that the amount is closer to 25% of employers who decreased matches or ceased employee contributions all together. Nearly two-thirds of employers still continue to provide matching contributions...
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...Retirement Plan and Communication Proposal Ebony Brown HRM/324 January 24, 2012 Jocelyn Freimark The design of a company’s benefits program is important to ensure the plans fit the structure of the company and the needs of its employees. Being a new company starting with 150 employees it will be important to design a varied and comprehensive retirement program that will not only address the needs of the company’s current employees, but will also attract potential employees, and be affordable for the company. Qualified plans “entitle employers and employees to substantial tax benefits” (Martocchio, 2009, p. 3), because neither has to pay taxes on contributions within a dollar limit outside of defined contribution plans. As an additional benefit, investment earnings are tax free and participants and their beneficiaries do not pay taxes on retirement benefits until the funds are received. There are two types of qualified retirement plans: defined benefit plan and defined compensation plan. A challenge of the defined benefit plan is that it may prove to be more costly for employers as employer contribution rates fluctuate yearly and requirements may be difficult for employers to ensure all the funds are available for participants or beneficiaries to receive. In this case, the best retirement benefit design option is the defined contribution plan. Under the defined contribution plans “employers and employees make annual contributions to separate...
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...1.0 INTRODUCTION The misc shipping line is a large company. Company is preferred provider maritime transportation and logistics services. It made in 1968 to become integrated maritime, offshore floating solution, heavy engineering and logistics service provider. This made misc become a subsidiary of PETRONAS in 1988, a move that produced synergistic benefits especially in the field of oil and gas transportation. Misc also is the world leading LNG owner operator with over two decades of proven experience for safely, reliability. They are forging partnerships in technologies advancement to offer LNG technology solution and new offshore applications. The company misc is a currently third largest shipping conglomerate in the world by market capitalism. The company is specialist in Energy Transportation and leading maritime corporation in Malaysia. The companies consists of ship owning, operating of offshore floating facilities as well as marine repair, marine conversion and engineering and construction works. The company MISC also delivers freighting solutions for Vegoil and Chemical products to various corners of the globe, leveraging on its extensive experience in bulk trading .Misc is currently growing the fleet of chemical tankers, establishing itself as transporter of chemicals and vegetable oils on the global platform. MISC is also a growing player in the offshore industry, offering floating facility solutions mainly FPSOs/FSOs with our ability to add value combined with...
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...题目:LNG船舶进出港航行安全管理研究 1.课题分析: 天然气作为清洁能源越来越受到能源市场青睐,天然气贸易业也越来越在世界各个国家之间蓬勃发展。随之而来的是LNG 船队数量不断增加以及向大型化趋势发展。2010—2013年LNG船舶将增加近40艘,随着大量LNG船舶活跃在世界各地的航线港口贸易中,相应的安全事故发生的概率也会大大增加。LNG船存在极大的安全隐患,因为LNG 船中储存的LNG 总能量十分巨大。一艘16 万立方米的LNG 船满载时所储存的LNG 总能量是广岛原子弹能量的70倍左右,一旦在发生LNG 泄漏,后果将不堪设想。因此研究此课题是具有很大现实意义的。此课题的内容是研究LNG船舶进出港时的安全管理办法,所以应该把“LNG船舶”、“进出港”、“安全”等作为主题(关键词)进行全面的布尔逻辑检索。 2.选择数据库: 《同方中国知网(CNKI)》、《万方数据资源系统》、《EI Village 2》、《Academic Search Premier》 3.检索途径: 中文:高级检索:主题:LNG船 或者 主题:液化天然气船 并且 主题:进出港 并含 航行安全 英文: Title: LNG ship or LNG carrier AND Title: safety 4.检索内容: (1)同方 SrcDatabase-来源库: CJFD2004 Title-题名: 对液化天然气船海运安全性的初步探讨 Author-作者: 邱林 Organ-单位: 上海海事大学制冷与低温工程专业 硕士研究生 通讯地址:上海海事大学1281信箱 邮编:200135 Source-文献来源: 航海技术 Keyword-关键词: 液化天然气;危险性;运输安全;LNG船;引言 Summary-摘要: 此文分析了液化天然气特殊的危险性;探讨了LNG在海上运输时出现的各种事故及相应的安全措施和方法。并对如何建立严格有效的LNG船船员培训、评估体系提出几点思考。 PubTime-发表时间: 2004-09-25 Year-年: 2004 Period-期: 05 PageCount-页码: 23-24 (2)万方 【篇名】深圳港液化天然气船航行安全风险评估 【作者】劳春浩,沈华,陈志勇等 【作者单位】深圳海事局,广州,深圳,518000;大连海事大学,航海学院,辽宁,大连,116026;青岛海事局,山东,青岛,266500 【出处】大连海事大学学报,JOURNAL OF DALIAN MARITIME UNIVERSITY2007,33(z2) 【ISSN】1006-7736 【页码】59-62 【摘要】对中国第一座海运LNG接收站LNG船航行安全进行了安全评估.采用美国海岸警卫队的中的预先风险评估方法(PrRA),使用了事件树方法和风险指数方法.根据ALARP原理,评估出三种情景属于需改进的范围,针对评估结果提出了五条减少风险水平的建议. (3)EI |Accession |20090511878655 | |number: | | | |Title:...
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...Albatross Anchor Unit 6 Unit Six Written Assignment Ury Salinas MT435 Operations Management Introduction Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change) Long-Term Operational Changes (01) An improvement in technology can increase efficiency and effectiveness throughout the plant. It is obvious that technology changes at such a rapid rate, older technology can slow down or inhibit the manufacturing process, making it longer for the products to reach the consumer. A plan over the span of 3 to 5 years to update technology is realistic because it gives enough time for the updates to be made effectively. (02) The purchase of additional equipment can take away the need to share manufacturing equipment between the two different types of anchors. The new equipment should be top of the line, because this will not only fall in line with the upgrades to technology, but will be the most cost-effective. Time is what will be saved primarily, since the separate equipment will do away with the 36 hours that are needed during equipment change-overs between production...
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...CHAPTER 6 – RRSP & OTHER SAVINGS PLANS Why a limit? * Each individual is only entitled to save a specified amount in a registered retirement savings plan * Through pension adjustment (PA), those who participate in employer sponsored plan are limited in how much they can give to RRSP * Limit is based upon earned income in prior year * RRSP contribution limit is cumulative....any amounts not used can be carried forward; therefore, all Canadian taxpayers should try to accumulate contribution room as early as possible. How about investment income???? Is that the same???? Not quite.....why??? The income earned on investments is not “earned income” --- which can be broadly defined as income that was “actively earned”. This leads us to the review of the formula for RRSP contribution limit and the definition of “earned income”. RRSP Contribution Limit: * Start with: * Lesser of: * A) 18% of prior year’s earned income (see below) * B) 2013 money purchase limit * Less: pension adjustment for prior year (from Module #5) * Less/add: PSPA (module #5) * Add: unused RRSP contribution room (carryover of amounts earned but not contributed) * Can be made from January of THAT year to 60 days afte the beginning of next year - contriubtions made in the first 60 days of the year can be used for previous year or the year of contribution Earned Income - Defined: * Generally, excludes income that is earned...
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...As people go through their entire lives they expect themselves to be able to retire after working for at least thirty years. As a matter of fact, state pensions are enough for a number of people to satisfy their basic needs for lives. Obviously, most people would want to supplement of pension plan because they have to depend on the pensions after they retire. It goes without saying that how important for them to have a stable pension plan when they are still working. A lot of employers also believe that they should set up pension plans when they still work. Pension plans not only bring benefits to the employees but also contribute the complete the corporate system. A couple years ago, some plaintiffs began filing lawsuits against pension plans sponsored by religiously- affiliated non-profit hospitals, challenging their designation as ‘‘church plans’’ under the Employee Retirement Income Security Act of 19741 (ERISA). In order to protect employee’s rights and make sure employer offer pension plans to their employees, the employee retirement income protection act of 1974 (ERISA) was published years ago, and employees can usually avoid unexpected losses in their retirement plans. The federal government set laws to protect employee’s rights with pension plans. However, there are some special circum that church The pension plans have been a hot topic for recent decades and there are over thirty lawsuits filed all over the country and it involved billions of dollars. In the case...
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...Name: Yunjia Zhang Syms School of Business Tax 6145 Deferred Compensation and Employee Benefits Fall 2014 Midterm Fill-in 2 pts each 1. The qualification requirements are intended to prevent discrimination in favor of highly compensated employees, 2. The age and service requirements require that an eligible employee participates in the plan no later than the attainment of age____21______ and_____2 year(s) of service. 3. A contribution to a qualified retirement plan (“QRP”) is income tax deductible if it is made no later than __due of tax return(April 15th) OR 60 extension days___________. 4. Under the dual entry method of plan participation, a QRP’s entry dates are usually the first day of the first plan year beginning after the date on which the employee satisfied the Code section 410(a)(1) minimum age and service requirements ___________ and __ the date 6 months after the date on which the employee satisfied the minimum age and service requirements. ________________. 5. A plan that provides for individual accounts is called a __defined contribution plan__________________. 6. A plan to which annual contributions are discretionary by the employer is called a _profit sharing plan________. 7. A plan in which the fair market value of the plan’s assets may be either greater than or less than its benefit obligations is called a ________defined benefit PLAN_________________. 8. A “year of service” generally is a calendar year, plan year, or other...
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...Name of the Project: Highway 407 improvement Executive summary In 2013, following 3 years of program definition, research and planning, the province of Ontario’s ministry of transportation and infrastructure launched the project to improve the existing highway 407. This highway is the busiest route and convenient to access different parts of Toronto. The proposal of highway 407 was launched in 1959 and opened to the public in June 7 1997. 407 its one of the busiest highway, the total trips in 2010 was 114.691 Million. 407 ETR is the world’s first all-electronic toll road of its kind, and from the day it was opened up to the present day it continues to fulfill its mission of relieving traffic on local highways and roads. The goal of the project “Highway 407 improvement” includes reducing congestion and travel time; improve safety; expanding networks and transportation choice for high occupancy vehicles. Given the cost of the project and other provincial priorities, a key objective was to be self-financing, paid for through ERT system. The present value cost is estimated more than $5 billion, which is calculated over the period of 35 years. Key features of the project include extending the high occupancy vehicles lanes and commercial vehicle priority access. The project will also provide the reintroduction of the public transit to a corridor that has been too crowded to support reliable service for the past few years. The request of proposal was submitted on...
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...corporate tax deduction because employers are generally allowed to contribute more (and therefore tax deduct) than the alternative retirement plans. Business owners can write off these contributions as a business expense which is tax deductible, which will assist in Allen maximizing his corporate tax deduction. Defined benefit plans have no contribution limits, Allen and Nancy have a goal to secure a $61,241.90 after-tax serial payment by retirement. Other retirement plans such as the 401(k) have contribution limits that will not allow for Allen and Nancy to meet this future retirement goal. Defined benefit plans are truly ideal for small business owners who are behind in retirement savings and are nearing retirement. In the case of Allen who is currently 54 years old, the defined benefit plan is ideal because he is not restricted on how much he can contribute, so by the time he does reach the age of retirement, he will likely be able to reach his goal. Because of the maximums on plans such as 401(k) and Money Purchase plans, those alternatives would serve little use to someone like Allen looking to retire in less than a 20 year period. Allen currently has stable, predictable cash flows throughout his business. He will therefore be able to contribute a predetermined fixed amount each year into his retirement fund that will help prepare for his retirement in 11 years. The defined benefit plan is great in this situation because his steady cash flows will provide him with...
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...Compensation and Benefits Plan Based on the job analysis performed previously by Team B for the program manager position, the success of the new engine program would bring in a big jump in sales for the company. Thus, the program manager position is important to ensure a quality completion of the program. Keys to successful compensation and benefits plan are to provide fair compensation to attract and retain employees and to align with the company’s strategic goals. The proposal for the compensation and benefit plan for the program manager is competitively based on U.S. national averages in aerospace industry, company size, education, and experience. The base salary range is formulated by using the Formal Salary Structures (Culpepper and Associates, 2010). They are consistent with aerospace industry standards. The proposed base salary range is between 25% -75% companies offer in accordance to Salary.com. The plan includes benefits that are consistent with company budgeting plan and strategic plan. The compensation and benefit plan is as followings. Salary: The base salary shall be in the range $126, 396 - $154,343. The salary range shall reflect an employee’s work experience, education, and skills as a mid-level program manager. The range is corresponding to the company’s pay grade PM-9 to PM-12. Annually, management will review the employee’s overall individual performance and job responsibilities to make any salary adjustments as necessary. Benefits: All employees are...
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...Case #6 WORTHINGTON INDUSTRIES Case summary The Worthington steel company founded 1955, essentially invented the steel processing industry as it exist today. The company, head quartered in Columbus, Ohio, operated 53 plants in 11 country and boasted 7.500 employees. John H. McConnell founded the company in 1955. An established leader with more than 1.000 customers. Worthington steel served a broad range of markets, including automotive, lawn and garden, construction, hard were, furniture, and office equipment, electric control, leisure and recreation, appliances and farm implement. The company offered the widest range of services in the industry, from slitting and blanking to hydrogen annealing, hot dipped galvanizing and nickel plating. The founder developed a the company's values through Worthington industries' Philosophy as follows: Earnings Our golden rule People Customer Supplier Organization Communication Citizenship At the core ofof these values is the golden rule : treat others the way one wanted to be treated. The Administrative systems of Worthington company are considered under the following sections : values, organization structure, human resources polities and reward systems. Question Evaluate the management system at Worthington industries from the standpoint of how they help the company to outperform its competitors. ANALYSIS The Worthington steel company have four key success factors and have Worthington industries' Philosophy to...
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...Introduction Albatross Anchor is a small family owned business that has been in operation since 1976. The company has grown drastically over the years and now employs over 130 people. They specialize in bell and snag hook anchors and operate as a strictly wholesale organization both domestically and internationally. Their manufacturing facility consists of one building which includes manufacturing, shipping, receiving, raw materials, finished product storage, the foundry and administrative offices. Their manufacturing facility is antiquated, worn, and technology deprived and no longer meets the US safety and environmental standards. Question 1 Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change). Long-Term Operational Changes (01) The first long-term change that Albatross Anchor should make to gain a clear and sustainable competitive advantage is technology. Since Albatross Anchor was founded in 1976, they haven’t updated the ways that they manufacture anchors. Each type of anchor they produce uses different types of manufacturing styles and they need to be changed each time to accommodate a different anchor. The machinery is obsolete,...
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