A new National Youth Mental Health Foundation will help to reduce the burden of mental illness, Prime Minister John Howard has said.
Mr Howard said the aim of the foundation is to promote early, effective intervention for young people aged 12 to 25 with mental health and related substance use disorders.
"As I think we all know, young people are particularly vulnerable to mental illness," Mr Howard told reporters in Sydney.
"Three quarters of mental health problems begin before the age of 25 and mental illness can be brought on or exacerbated by drug and alcohol misuse."
Mr Howard said a consortium led by the Orygen Research Centre at the University of Melbourne had been selected to establish the foundation.
Other members of the consortium are the Brain and Mind Institute, the Australian Psychological Society and the Australian Divisions of General Practice.
Pacific Magazines chairman and Seven Network Asia president Ryan Stokes will chair the foundation, which will receive federal government funding of $54 million over four years.
The foundation is expected to be up and running early next year.
www.theage.com.au
Tuesday, December 13, 2005
Federal funding injection to health
THE states will be offered hundreds of millions of dollars to improve public hospitals and treatment of the elderly and disabled as part of a renewed assault on health reform by the Howard Government.Canberra's latest funding offer is designed to relieve pressure on hospitals by moving elderly patients, requiring long-term care, from general wards to lower-cost facilities.
Additional funds will also be made available to encourage the states to move younger disabled patients from nursing homes and hostels into more appropriate housing.
John Howard will unveil the new health agenda in February during his next meeting with Labor premiers. The Prime Minister is keen to develop a national mental health strategy and has received cabinet approval to have this discussed at the next Council of Australian Governments meeting.
The reforms are an effort to streamline the health system by removing demarcation lines between Canberra and the states.
"What we are going to do is put a number of proposals to respond to the key pressure points in health," a senior government figure said.
The health plan is designed to neutralise complaints by Labor premiers that the Howard Government does not contribute enough funding to fix the system's chronic problems.
In a further peace offering to the states, the Government will stump up about $800million in the latest round of national competition payments.
These are paid to the states to encourage them to introduce competition in sectors such as energy, retail and water.
The competition payments will be made for reforms undertaken this financial year.
It is understood some states, including Western Australia and South Australia, have lagged in areas such as liquor regulation. But overall the states have largely complied with the reform agenda set by the National Competition Council.
Canberra is also expected to approve the sale of Medibank Private, with a scoping study expected to be considered by the cabinet early next year.
www.theaustralian.news.com.au
Additional funds will also be made available to encourage the states to move younger disabled patients from nursing homes and hostels into more appropriate housing.
John Howard will unveil the new health agenda in February during his next meeting with Labor premiers. The Prime Minister is keen to develop a national mental health strategy and has received cabinet approval to have this discussed at the next Council of Australian Governments meeting.
The reforms are an effort to streamline the health system by removing demarcation lines between Canberra and the states.
"What we are going to do is put a number of proposals to respond to the key pressure points in health," a senior government figure said.
The health plan is designed to neutralise complaints by Labor premiers that the Howard Government does not contribute enough funding to fix the system's chronic problems.
In a further peace offering to the states, the Government will stump up about $800million in the latest round of national competition payments.
These are paid to the states to encourage them to introduce competition in sectors such as energy, retail and water.
The competition payments will be made for reforms undertaken this financial year.
It is understood some states, including Western Australia and South Australia, have lagged in areas such as liquor regulation. But overall the states have largely complied with the reform agenda set by the National Competition Council.
Canberra is also expected to approve the sale of Medibank Private, with a scoping study expected to be considered by the cabinet early next year.
www.theaustralian.news.com.au
Small business group hits 18 out of 19
The Government is not prepared to give small employers a personal grievance-free period after they hire new employees, but is supporting 18 other recommendations from a small business advisory group.
Small Business Minister Lianne Dalziel announced yesterday that the Government supported in substance 18 of 19 recommendations in the August 2004 report from a group of nine people who owned small and medium-sized businesses.
Sixty per cent of new jobs in New Zealand in the past four years were in small and medium-sized enterprises. The Government's actions in response to the recommendations include extra funding for mentoring services; the Economic Development Ministry examining ways the Government can measure and publish the costs of compliance; changes to simplify depreciation and the fringe benefit tax; setting up a $40 million fund to help small and medium-sized enterprises to get capital.
Ms Dalziel said there were "other ways" the Government would explore to address the risks of hiring employees. The group was asking the Government to remove a probationary employee's right to file a personal grievance.
Its report said: "We believe that these are the single most important changes that could be made to the employment legislation and that they would lead directly and immediately to employment and business growth."
Ms Dalziel said the Employment Relations Act provided for a probationary period for new employees, with performance reviews and provisions that could lead to termination on the basis of non-performance.
Timaru businessman Murray Cleverley, a member of the advisory group, said the main aim was to minimise the risk of taking on new employees.
Ms Dalziel said even though employers had the right to dismiss a probationary employee for non-performance, there were employment consultants interested only in financial settlements from personal grievances.
Dunedin footwear manufacturer, Nigel McKinlay, also a group member, said employers might choose to pay out on a grievance, even though it might fail in court, because defending it would cost more in time and legal fees. Mr Cleverley said the group would work with the minister toward another solution.
www.stuff.co.nz
Small Business Minister Lianne Dalziel announced yesterday that the Government supported in substance 18 of 19 recommendations in the August 2004 report from a group of nine people who owned small and medium-sized businesses.
Sixty per cent of new jobs in New Zealand in the past four years were in small and medium-sized enterprises. The Government's actions in response to the recommendations include extra funding for mentoring services; the Economic Development Ministry examining ways the Government can measure and publish the costs of compliance; changes to simplify depreciation and the fringe benefit tax; setting up a $40 million fund to help small and medium-sized enterprises to get capital.
Ms Dalziel said there were "other ways" the Government would explore to address the risks of hiring employees. The group was asking the Government to remove a probationary employee's right to file a personal grievance.
Its report said: "We believe that these are the single most important changes that could be made to the employment legislation and that they would lead directly and immediately to employment and business growth."
Ms Dalziel said the Employment Relations Act provided for a probationary period for new employees, with performance reviews and provisions that could lead to termination on the basis of non-performance.
Timaru businessman Murray Cleverley, a member of the advisory group, said the main aim was to minimise the risk of taking on new employees.
Ms Dalziel said even though employers had the right to dismiss a probationary employee for non-performance, there were employment consultants interested only in financial settlements from personal grievances.
Dunedin footwear manufacturer, Nigel McKinlay, also a group member, said employers might choose to pay out on a grievance, even though it might fail in court, because defending it would cost more in time and legal fees. Mr Cleverley said the group would work with the minister toward another solution.
www.stuff.co.nz
AED 1 billion worth of rare Business Bay plots auctioned in less than 4 hours
Excitement and bidding frenzy, investors asking for more time to make up their minds or get on the phone to ask their partners and principals for instructions or more funds, made for an electric atmosphere as the charged bidding for the exclusive plots started.
'We are pleased. The plots in Business Bay offer one of the best locations in the city of Dubai along Sheikh Zayed Road. All the eight prime plots on offer were auctioned off in a highly intense bidding session that lasted less than four hours,' said Hashim Al Dabal, Chief Executive Officer of Dubai Properties.
This was the second auction of real estate organised by Mazad. An exclusive list of property developers and investors were invited to today's auction, which, in keeping with the elite nature of the event, was held at the world's first seven-star super-luxury hotel, The Burj Al Arab. Mazad offered 'The Constellation', a collection of prime plots at Business Bay.
'Another major factor that made these plots so rare from others was that investors can construct buildings as high as they want as these plots come with a pre-approval for mixed-use buildings of unlimited height. Also the investors can have unlimited underground parking and additional podium height,'Al Dabal pointed out. 'This is our way of rewarding investors who have put their trust in us,' he added.
Prime Location'This was an exclusive opportunity to own plots at one of the best locations in Dubai and the investors, knowing the supreme benefits, took full advantage of the opportunity,' Al Dabal pointed out.
'I am pleased that the awareness about Business Bay has spread throughout the region as we had more than 200 investors from GCC countries, UAE, Pakistan and Iran who attended this highly exclusive event,' he added. Al Dabal said eight plots measuring a total of 700,000 square feet were sold for over AED 1 billion in less than 4 hours. The biggest plot was sold for AED 214 million, while the lowest price that a plot fetched was a substantial AED 45 million.
'What indicates the huge response to this once-in-a-lifetime offer was the fact that one of the 8 plots was sold to a pre-bidder even before the event for 20% more than the expected price,' said Al Dabal. He said that the 7 remaining plots were then sold during the event...all went for a price higher than the pre-set reserve price.
'I thank all the investors who attended from all over the region. Their presence and their interest in the Business Bay made us at Dubai Properties and Mazad feel so proud to have created something that people think so highly of and want so much,' Al Dabal added. Dubai Properties sought out John McGrath, recognised as Australasia's finest real estate auctioneer, to conduct the Mazad auction.
In a 23-year real estate career John McGrath has personally auctioned over 5,000 properties including some of Australia's most valuable and important real estate. Dubai Properties has been created by Dubai Holding Group with the express aim of conceiving niche, large-scale development projects and transforming that vision into reality.
www.ameinfo.com
'We are pleased. The plots in Business Bay offer one of the best locations in the city of Dubai along Sheikh Zayed Road. All the eight prime plots on offer were auctioned off in a highly intense bidding session that lasted less than four hours,' said Hashim Al Dabal, Chief Executive Officer of Dubai Properties.
This was the second auction of real estate organised by Mazad. An exclusive list of property developers and investors were invited to today's auction, which, in keeping with the elite nature of the event, was held at the world's first seven-star super-luxury hotel, The Burj Al Arab. Mazad offered 'The Constellation', a collection of prime plots at Business Bay.
'Another major factor that made these plots so rare from others was that investors can construct buildings as high as they want as these plots come with a pre-approval for mixed-use buildings of unlimited height. Also the investors can have unlimited underground parking and additional podium height,'Al Dabal pointed out. 'This is our way of rewarding investors who have put their trust in us,' he added.
Prime Location'This was an exclusive opportunity to own plots at one of the best locations in Dubai and the investors, knowing the supreme benefits, took full advantage of the opportunity,' Al Dabal pointed out.
'I am pleased that the awareness about Business Bay has spread throughout the region as we had more than 200 investors from GCC countries, UAE, Pakistan and Iran who attended this highly exclusive event,' he added. Al Dabal said eight plots measuring a total of 700,000 square feet were sold for over AED 1 billion in less than 4 hours. The biggest plot was sold for AED 214 million, while the lowest price that a plot fetched was a substantial AED 45 million.
'What indicates the huge response to this once-in-a-lifetime offer was the fact that one of the 8 plots was sold to a pre-bidder even before the event for 20% more than the expected price,' said Al Dabal. He said that the 7 remaining plots were then sold during the event...all went for a price higher than the pre-set reserve price.
'I thank all the investors who attended from all over the region. Their presence and their interest in the Business Bay made us at Dubai Properties and Mazad feel so proud to have created something that people think so highly of and want so much,' Al Dabal added. Dubai Properties sought out John McGrath, recognised as Australasia's finest real estate auctioneer, to conduct the Mazad auction.
In a 23-year real estate career John McGrath has personally auctioned over 5,000 properties including some of Australia's most valuable and important real estate. Dubai Properties has been created by Dubai Holding Group with the express aim of conceiving niche, large-scale development projects and transforming that vision into reality.
www.ameinfo.com
Orion Technology and Digital Highway Join Forces to Enter Italian Market
Orion Technology, a leading provider of web-GIS software and integration services and Digital Highway an established provider of custom software solutions to public and private enterprises and government agencies throughout Italy, announced today that the two companies have signed a business partnership agreement.
Under terms of the partnership, Digital Highway will offer Orion’s OnPoint Suite of web-GIS software products to the Italian market.Based out of Rende, in Southern Italy, Digital highway provides custom software solutions to public and private enterprises and government agencies throughout the country and prides itself on providing leading edge software and consulting services.
Paolo Spadafora, the founder and CEO of Digital Highway recognized a need in the Italian and European markets for software and technology pioneered by Orion. With expertise in customizing solutions to fit customer needs, the Digital highway alliance with Orion will create unparalleled products and support for the Italian market. “The OnPoint Suite has the scalability and flexibility to serve a multitude of geographic and vertical markets.
Partnering with Digital Highway furthers Orion’s partnership strategy, and provides a unique opportunity to enter the Italian marketplace with a reputable company committed to client satisfaction, as we are at Orion.” commented Faizal Hasham, Director of Sales and Marketing for Orion.OnPoint, Orion’s flagship product, is a fully customizable web-GIS product (using ESRI's ArcIMS) that lets clients post their geographic data on the web fast. It is enjoying growing support in the GIS community, both domestically and internationally, as a standard for providing geographic data through intuitive Internet and Intranet web-based user interfaces.
OnPoint provides out-of-the-box implementation capabilities, powerful administration tools for customizing and managing the web portal, and unparalleled data-integration features. “We can now deliver cutting edge GIS technologies and solutions to the Italian marketplace” stated Paolo Spadafora.About Orion Technology Inc.Orion Technology, based in Richmond Hill, Ontario, Canada, is a technology consulting and services integration company, specializing in web-GIS. Orion's focus is on helping organizations incorporate spatial technology into all facets of their businesses. Orion’s wealth of knowledge in the GIS domain and top-notch GIS software-development expertise has been showcased with its award-winning flagship product OnPoint™.
OnPoint™ is enjoying growing support in the GIS community, both domestically and internationally, as a standard for providing geographic data through intuitive Internet and Intranet web-based user interfaces. OnPoint™ provides out-of-the-box implementation capabilities, powerful administration tools for customizing and managing the web portal, and unparalleled data-integration features. Orion's easy-to-use Web-GIS products and custom application development services have helped Orion achieve phenomenal success in securing and delivering projects for reputable clients worldwide - from small organizations to entire countries.
To find out more about Orion and its products, visit www.orion-gis.com.About Digital Highway Digital Highway is a dynamic company located in southern Italy. Digital Highway provides custom software solutions to public and private enterprises and government agencies and prides itself on providing leading edge software and consulting services. Digital Highway is focused on delivering tailor made products and services in the trademark “made in italy” tradition of custom engineering and design.
Through our modular solution design, we offer high-quality cost-effective products quickly, bringing down costs and time barriers. Our areas of expertise include: Customer Relationship Management, Content Management Systems, B2B and B2C e-commerce, Internet and Intranet Portals, Supply Chain Management, GIS Application Integration, Workflow and Document Management Systems.
www.spatialnews.geocomm.com
Under terms of the partnership, Digital Highway will offer Orion’s OnPoint Suite of web-GIS software products to the Italian market.Based out of Rende, in Southern Italy, Digital highway provides custom software solutions to public and private enterprises and government agencies throughout the country and prides itself on providing leading edge software and consulting services.
Paolo Spadafora, the founder and CEO of Digital Highway recognized a need in the Italian and European markets for software and technology pioneered by Orion. With expertise in customizing solutions to fit customer needs, the Digital highway alliance with Orion will create unparalleled products and support for the Italian market. “The OnPoint Suite has the scalability and flexibility to serve a multitude of geographic and vertical markets.
Partnering with Digital Highway furthers Orion’s partnership strategy, and provides a unique opportunity to enter the Italian marketplace with a reputable company committed to client satisfaction, as we are at Orion.” commented Faizal Hasham, Director of Sales and Marketing for Orion.OnPoint, Orion’s flagship product, is a fully customizable web-GIS product (using ESRI's ArcIMS) that lets clients post their geographic data on the web fast. It is enjoying growing support in the GIS community, both domestically and internationally, as a standard for providing geographic data through intuitive Internet and Intranet web-based user interfaces.
OnPoint provides out-of-the-box implementation capabilities, powerful administration tools for customizing and managing the web portal, and unparalleled data-integration features. “We can now deliver cutting edge GIS technologies and solutions to the Italian marketplace” stated Paolo Spadafora.About Orion Technology Inc.Orion Technology, based in Richmond Hill, Ontario, Canada, is a technology consulting and services integration company, specializing in web-GIS. Orion's focus is on helping organizations incorporate spatial technology into all facets of their businesses. Orion’s wealth of knowledge in the GIS domain and top-notch GIS software-development expertise has been showcased with its award-winning flagship product OnPoint™.
OnPoint™ is enjoying growing support in the GIS community, both domestically and internationally, as a standard for providing geographic data through intuitive Internet and Intranet web-based user interfaces. OnPoint™ provides out-of-the-box implementation capabilities, powerful administration tools for customizing and managing the web portal, and unparalleled data-integration features. Orion's easy-to-use Web-GIS products and custom application development services have helped Orion achieve phenomenal success in securing and delivering projects for reputable clients worldwide - from small organizations to entire countries.
To find out more about Orion and its products, visit www.orion-gis.com.About Digital Highway Digital Highway is a dynamic company located in southern Italy. Digital Highway provides custom software solutions to public and private enterprises and government agencies and prides itself on providing leading edge software and consulting services. Digital Highway is focused on delivering tailor made products and services in the trademark “made in italy” tradition of custom engineering and design.
Through our modular solution design, we offer high-quality cost-effective products quickly, bringing down costs and time barriers. Our areas of expertise include: Customer Relationship Management, Content Management Systems, B2B and B2C e-commerce, Internet and Intranet Portals, Supply Chain Management, GIS Application Integration, Workflow and Document Management Systems.
www.spatialnews.geocomm.com
Modern Technology Corp Announces Positive Quarterly Results and Issues Update
Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today quarterly revenues of $1,311,779. The company had a cash balance of $1,161,688, $1,509,498 in trading securities, and total current assets of $4,833,159 as of September 30, 2005.
The company reports $8,327,296 in total Assets and positive Stockholder Equity. The company's expenses have been large due in part to interest expense and the extraordinary initial costs associated with acquisitions. The company's current growth pattern anticipates positive Earnings-Per-Share within the coming year.
Stockholders are reminded the majority of our subsidiary's revenue will be generated in the latter part of 2005 during the busiest sales season. The company's subsidiary Sound City (www.soundcity.com), is doubling its retail footprint and continues to add product lines.
With the opening of this subsidiary's new location, we expect revenue to be in line with expectations.
Anthony Welch, Modern Technology Corp's Chairman, said, "We continue to grow with our acquisitions and targets are being met. We are entering our strong revenue season and expect superb results. We will be issuing more news in the coming days."
The company previously announced acquisitions expected to add an estimated $11 Million in 2005 profitable revenues and a projected additional $13 Million in profitable revenues for 2006.
These new acquisitions will be consolidated in the Company's financials in the next quarter.
The company's current revenue projections for 2005 year-end are expected to be in excess of $20,000,000. This projection does not include other acquisitions under consideration.
It must be noted that we have transactions under consideration that may propel the company beyond $50,000,000 for 2005.
The company expects ongoing synergy-based cost reductions as well as increased revenue growth resulting from the synergies between the subsidiaries.
This guidance is the company's best good faith estimate based on current conditions and numerous assumptions about the company's industry, its access to financing, the competitive and regulatory landscape and its ability to successfully consummate the acquisitions under consideration.
About Modern Technology Corp.
Founded in 1982, Modern Technology Corp is a diversified technology development and acquisition company, building revenues by strategic acquisition and commercialization of nascent commercial technology and by the acquisition of synergistic operating companies. MOTG commercializes technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to consistently build shareholder value through accretive acquisitions of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines. For more information, visit: http://www.moderntechnologycorp.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
www.marketwire.com
The company reports $8,327,296 in total Assets and positive Stockholder Equity. The company's expenses have been large due in part to interest expense and the extraordinary initial costs associated with acquisitions. The company's current growth pattern anticipates positive Earnings-Per-Share within the coming year.
Stockholders are reminded the majority of our subsidiary's revenue will be generated in the latter part of 2005 during the busiest sales season. The company's subsidiary Sound City (www.soundcity.com), is doubling its retail footprint and continues to add product lines.
With the opening of this subsidiary's new location, we expect revenue to be in line with expectations.
Anthony Welch, Modern Technology Corp's Chairman, said, "We continue to grow with our acquisitions and targets are being met. We are entering our strong revenue season and expect superb results. We will be issuing more news in the coming days."
The company previously announced acquisitions expected to add an estimated $11 Million in 2005 profitable revenues and a projected additional $13 Million in profitable revenues for 2006.
These new acquisitions will be consolidated in the Company's financials in the next quarter.
The company's current revenue projections for 2005 year-end are expected to be in excess of $20,000,000. This projection does not include other acquisitions under consideration.
It must be noted that we have transactions under consideration that may propel the company beyond $50,000,000 for 2005.
The company expects ongoing synergy-based cost reductions as well as increased revenue growth resulting from the synergies between the subsidiaries.
This guidance is the company's best good faith estimate based on current conditions and numerous assumptions about the company's industry, its access to financing, the competitive and regulatory landscape and its ability to successfully consummate the acquisitions under consideration.
About Modern Technology Corp.
Founded in 1982, Modern Technology Corp is a diversified technology development and acquisition company, building revenues by strategic acquisition and commercialization of nascent commercial technology and by the acquisition of synergistic operating companies. MOTG commercializes technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to consistently build shareholder value through accretive acquisitions of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines. For more information, visit: http://www.moderntechnologycorp.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
www.marketwire.com
Subscribe to:
Posts (Atom)