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"The investigation will focus on the initial police response following a report of concern made about the man's welfare.
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Police initially treated his death as "unexplained'' and following a post-mortem examination said it was a sudden death with no suspicious circumstances.
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A Police Scotland spokesman said: "Police Scotland acknowledges the Pirc investigation into the initial police response following a report of concern made about James Richardson's welfare in the Forteviot area of Perthshire.
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Pirc has also launched an investigation into a separate incident involving the death of a 24-year-old man in custody.
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The Pirc spokesman said the man, who has not been named, became ill after being taken to Falkirk police office on Monday.
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He was transferred to Forth Valley Royal Hospital in Larbert, where he died on Thursday.
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The investigation is being carried out at the request of the COPFS, which will receive a report.
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Chief Judicial Magistrate Harish Goyal has fixed August 3 as the next date of hearing in the case filed against Baba Ramdev over his 'beheading' remark.
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Rohtak: A non-bailable warrant was issued against yoga guru Ramdev by a court in Rohtak on Wednesday in a case over remarks made by him in the Haryana district last year against those refusing to raise the slogan of 'Bharat mata ki jai'.
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The court of Additional Chief Judicial Magistrate Harish Goyal issued the warrant against the yoga guru and fixed August 3 as the next date of hearing in the case.
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On May 12, the court had issued a bailable warrant against Mr Ramdev.
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"The order follows Ramdev's failure to appear before the court yet again today. He also failed to appear despite summons and a bailable warrant," OP Chugh, the counsel for the complainant in the case, said.
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Mr Ramdev had made the remarks at a Sadbhawana Sammelan in Rohtak in April last year, which was called to promote peace in the city that witnessed violence during the Jat quota stir. He had allegedly said that but for the rule of law he would have "beheaded" lakhs of people for refusing to chant 'Bharat mata ki jai'.
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On March 2, Mr Goyal had issued summons to Mr Ramdev after a complaint was filed by Congress leader and former Haryana minister Subhash Batra seeking registration of a police case against the yoga guru.
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The magistrate had then directed Mr Ramdev to furnish Rs 1 lakh personal surety and also asked him to appear in court on June 14.
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Georgians will have to wait at least another year for statewide regulation of electric scooters. But the General Assembly this week approved new rules for electric bicycles.
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Lawmakers approved House Bill 454, which allow electric bikes to use paved paths if they are not capable of reaching a speed of 20 mph or if the motor stops when the bike reaches that speed. The bill also would require people who ride faster electric bikes to wear helmets.
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The bill originally included statewide regulations for electric scooters. But negotiations with scooter companies could not be completed during the legislative session. Those talks will continue, with an eye toward a new bill next year.
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In addition, the state Senate approved Senate Resolution 479, which creates a committee to study scooter regulations. The committee will report back before next year’s legislative session.
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Scooters have been popping up across metro Atlanta since last spring. Advocates say they’re great for short trips. Critics say they’ve become a nuisance. Cities like Atlanta have scrambled to come up with regulations to govern the use of the devices.
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Georgia lawmakers want to establish basic rules that can apply statewide.
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Amy Schumer has responded to claims she “demanded” equal pay to Chris Rock and Dave Chapelle for her Netflix special.
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The Leather Special was filmed at the Bellco Theatre in Denver in November 2016 and was released onto the streaming service in March of this year.
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As Us Weekly reports, Schumer posted her response on her Instagram page. “Thanks for chiming in on what you feel I deserve to be paid,” she wrote. “I believe women deserve equal pay. However I don’t believe I deserve equal pay to Chris and Dave.
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“The reports of me “demanding” or “insisting” on equal pay to them aren’t true,” she concluded, adding the hashtags “#fat” and “#stealsjokes” to her post.
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Last year, Schumer became the first female to make it into the annual list of the world’s highest-paid comedians.
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Schumer was fourth in Forbes’ Top 10 Highest-Paid Comedians list, having earned £13m from her comedy between June 2015 and June 2016.
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She was behind Kevin Hart at number one, who earned £67.2m, followed by Jerry Seinfeld (£33.4m) and Terry Fator (£16.1m).
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Amid talk of layoffs, interim City Manager Mark Weinberg is proposing several new fees to shore up San Bernardino’s $9 million budget gap.
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The fees could raise a projected $501,600 during fiscal year 2009-10.
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One such proposal would mandate cat licenses, which are now voluntary. The licenses cost $30 if the cat has not been spayed or neutered. There are discounts for licenses for altered pets and further discounts for seniors whose cats have been spayed or neutered.
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Cat licenses are projected to raise $45,000.
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• Increasing Animal Control’s one-year licensing fee for neutered dogs from $15 to $20 to raise $36,000.
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• Increasing Code Enforcement’s weed-abatement administrative fee from $110 per parcel to $320 per parcel to raise $189,000.
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• Creating an $80 Code Enforcement fine for illegal advertisement signs to raise $45,000.
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• Increasing the Police Department’s tow-release fee from $215 to $235 to raise $42,400.
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• Increasing the Police Department’s false robbery- alarm fees from $100 to $175 for the first four calls. Fees for false robbery alarms would rise from $125 to $250 for the fifth and sixth calls and from $250 to $300 for the seventh through ninth calls. The fee hikes are expected to raise $7,600.
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Seventh Ward Councilwoman Wendy McCammack criticized interim City Manager Mark Weinberg during budget talks Monday night for what she sees as a failure to seek revenue enhancements.
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McCammack said the city should engage in more aggressive code enforcement and inspection efforts, thereby maximizing fee and fine revenues while cleaning up the city. She singled out a proposal to impose a new $80 fine for illegal signs when the city’s administrative civil penalties law carries a provision for a maximum fine of $1,000 per day for any violation of the municipal code.
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“Why would you undercut yourself if you’ve already got the legislative power to fine more?” asked McCammack, who has taken the position that the city should pursue new revenues before considering layoffs.
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Weinberg and Mayor Pat Morris issued sharp rebukes to McCammack’s suggestion. Weinberg asked McCammack if being pro-business, she would really want to start handing out $1,000 fines in the middle of a recession.
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Morris, a former judge, maintained that such a hefty penalty for a sign violation is disproportionate to the offense.
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“You’re talking about people paying a $1,000 fines for minor infractions, and no judge worth his salt is going to enforce this,” he said.
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The proposed $80 fine for illegal signs could raise $45,000 in fiscal year 2009-10, according to Weinberg’s office.
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During Monday night’s budget talks, 1st Ward Councilwoman Esther Estrada said an unidentified entity has expressed interest in purchasing the Norton Recreation Center, which is near San Bernardino International Airport.
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The rec center and Galaxy Grand Ballroom are slated for closure in interim City Manager Mark Weinberg’s new budget proposal. The move would lead to a pair of layoffs and is projected to save about $40,000 between April 1 and June 30.
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City Finance Director Barbara Pachon said staffers are compiling a list of real estate that could be sold, although Weinberg said it could be difficult to close land deals quickly in the current economic climate.
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However, Estrada emphasized that the city might have a ready buyer and that she wants officials to move quickly to sell surplus land when possible.
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Mayor Pat Morris said it might be difficult to sell the property under federal law because the U.S. Air Force gave the facilities to San Bernardino for recreational purposes after the closure of Norton Air Force Base. Morris said he would contact Reps. Joe Baca and Jerry Lewis regarding any necessary legislative action to allow a sale.
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Andy McCluskey, co-founder of U.K. synth-pop avatars Orchestral Manoeuvres in the Dark (OMD), cherishes his Chicago connection.
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As teenagers growing up in Liverpool, England, during the early ’70s, McCluskey and Paul Humphreys heard the future in the music of German experimental bands such as Kraftwerk, whose landmark hits such as “Autobahn” and “The Man Machine” ushered in a new era of electronic pop music.
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Emmy Nominations: How Accurate Were Our Predictions?
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Emmys: 70 Actors, 12 Awards -- Who Has the Best Odds?
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Emmy Predictions: How'd the Awards Editor Do?
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Replicating the returns of private equity and venture capital, two murky asset classes, is possible. Rather than investing in private companies directly, there are indexes that seek to replicate the industries' returns by constructing portfolios of liquid, U.S. large-cap equities. These portfolios are designed to mirror the characteristics and returns of the private markets.
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The first step in creating a replication strategy is to create baseline research indexes. The indexes must first contain detailed transaction and valuation data on the universe of U.S. private equity- and venture capital-backed companies. Individual companies are aggregated to provide an industry level valuation of all U.S. private equity and venture capital companies (effectively creating industry benchmarks). This approach allows research indexes to reflect the gross returns of the industry, i.e., before the respective fund manager fees and expenses are deducted. Also, the research indexes are market-cap weighted.
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Armed with a detailed historical profile of the private equity/venture capital industry return characteristics established through the research indexes, tracking portfolios are then created to mirror the risk and return characteristics of the respective asset classes. They are designed to track their respective research indexes in the medium-term due to reporting delays and other noise inherent to private company data. Tracking portfolios are constructed using liquid, U.S. large-cap equities. Modest leverage is commonly used so the tracking portfolios' risk loadings match those of the private equity and venture capital industries in aggregate.
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While private equity and venture capital returns are not, themselves, predictable, the risk exposures of the asset classes can be predicted, and it is possible to create portfolios that mimic these exposures. A consensus forecasting approach averages the desired portfolio weightings generated by a portfolio of non-linear predictive models. Each model aims to replicate the risks and return characteristics of the private equity or venture capital research index. Models are designed to minimize the overlap of information.
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It is critical to note that since the research indexes are highly diversified, idiosyncratic risks at the individual company level are neutralized, leaving only systematic risk.
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The underlying economic relations between predictive variables and the risks within resulting portfolios are selected because they robustly predict exposures of underlying private equity and venture capital firms in different market environments. The models are designed to consistently track underlying exposures using modest levels of dynamic portfolio leverage and inter-sector leverage adjustments. Averaging the portfolio recommendations across models reduces model risks and individual models are prevented from taking extreme positions. Portfolio parameters are estimated in-sample and evaluated using out-of-sample verification data.
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1. Sector distribution matching. Each quarter, the market-cap sector weightings of the research indexes are matched using individual stocks from publicly traded sector indexes. Intra-quarter sector weightings self-adjust based on relative market performance.
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2. Portfolio level beta matching. On a monthly basis, the portfolio risk characteristics of the research indexes are estimated using proprietary models. The overall risk level is replicated in the tracking indexes through modest leverage at the portfolio level. The leverage factor is reset monthly and can go below one.
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3. Sector-level beta refinement. On a monthly basis, the same proprietary models are used to estimate the risk characteristics at the individual equity sector levels. Leverage adjustments, up or down, are made to each sector to better reflect risk estimates. This action tightens portfolio tracking, and the net leverage effect of adjustments across all sectors is zero.
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The resulting tracker index portfolios are composed of highly liquid U.S. equities, allowing the portfolios to trade efficiently and be scalable.
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Arthur R. Bushonville is founder and CEO and Jeffrey F. Knupp is president of DSC Quantitative Group, Chicago. This content represents the views of the authors. It was submitted and edited under P&I guidelines, but is not a product of P&I's editorial team.
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Three stoppage-time goals saw Grimsby and Woking share the points in a thrilling draw.
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Kevin Betsy gave Woking an 84th-minute lead with a close-range finish before Oumare Tounkara struck back for the Mariners 30 seconds from time.
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Keiran Murtagh restored Woking's lead but there was to be more late drama when John Nutter fouled Grimsby midfielder Craig Disley in the area.
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Lenell John-Lewis levelled from the spot with the last kick of the game.
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"A very mixed night when you come to Grimsby with a very big budget, big quality players and a lot of depth in the squad - and I felt we were very bright and there wasn't much between the sides.
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"We proved that we are force to play against anyone in this league and, as a part-time club, we are starting to go in the right direction and it didn't surprise me what happened at the end of the game.
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"It was never a penalty in years and the referee got wrapped in it. No doubt about it, it cost us three points tonight. He knows that and their manager could not believe how lucky he was."
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Match ends, Grimsby Town 2, Woking 2.
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Second Half ends, Grimsby Town 2, Woking 2.
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Goal! Grimsby Town 2, Woking 2. Lenell John-Lewis (Grimsby Town) converts the penalty with a right footed shot to the bottom left corner.
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John Nutter (Woking) is shown the yellow card for dissent.
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Penalty conceded by John Nutter (Woking) after a foul in the penalty area.
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Penalty Grimsby Town. Craig Disley draws a foul in the penalty area.
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Jamal Fyfield (Grimsby Town) wins a free kick.
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Goal! Grimsby Town 1, Woking 2. Keiran Murtagh (Woking) right footed shot from outside the box to the centre of the goal. Assisted by Josh Payne.
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Goal! Grimsby Town 1, Woking 1. Oumare Tounkara (Grimsby Town) right footed shot from the left side of the box to the top right corner. Assisted by Sam Hatton.
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Substitution, Woking. Joey Jones replaces John Goddard.
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Attempt missed. Alex Rodman (Grimsby Town) right footed shot from outside the box is too high.
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Substitution, Grimsby Town. Jamal Fyfield replaces Aswad Thomas because of an injury.
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Goal! Grimsby Town 0, Woking 1. Kevin Betsy (Woking) right footed shot from a difficult angle and long range on the right to the bottom left corner.
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Foul by Oumare Tounkara (Grimsby Town).
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Sam Hatton (Grimsby Town) wins a free kick.
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Attempt missed. Andrew Boyce (Grimsby Town) header. Assisted by Scott Kerr.
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Substitution, Grimsby Town. Oumare Tounkara replaces Connor Jennings.
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Substitution, Grimsby Town. Joe Colbeck replaces Scott Neilson.
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Substitution, Woking. Giuseppe Sole replaces Jack Marriott.
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Foul by Scott Kerr (Grimsby Town).
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Attempt missed. Connor Jennings (Grimsby Town) right footed shot from the centre of the box misses to the right.
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Foul by Connor Jennings (Grimsby Town).
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Offside, Grimsby Town. Shaun Pearson tries a through ball, but Shaun Pearson is caught offside.
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Attempt missed. Scott Kerr (Grimsby Town) right footed shot from outside the box.
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Attempt missed. Lenell John-Lewis (Grimsby Town) right footed shot from a difficult angle on the left misses to the right.
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Hand ball by Craig Disley (Grimsby Town).
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The Department of Labor and Employment (DOLE) will lead an interagency task force that will verify and ensure that only foreigners with valid work permits are here in the country, nearly two months after the Senate sounded the alarm on the supposed spike in the number of foreign workers today, particularly those from China.
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According to Dominique Tutay, head of DOLE’s Bureau of Local Employment, the task force that is expected to be rolled out within the month will specifically look into the employment situation of the accredited Philippine Offshore Gaming Operators (POGOs) in Metro Manila, and Clark and Subic in Pampanga province.
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