Two leading fitness firms in good health
Posted: September 18, 2012 at 8:13 am
Home business Two leading fitness firms in good health
Watchiranont Thongtep The Nation September 18, 2012 1:00 am
Fitness First (Thailand) has earmarked Bt1.5 billion to establish 15 new clubs within the next five years, while True Fitness plans to invest more than Bt360 million for four new branches next year.
Thailand is a fast-growing market for the UK-based Fitness First group in terms of profits and branch expansion despite the global economic downturn, said Mark Buchanan, managing director of the Thai unit.
He said the company was looking at setting up small clubs of about 1,000-1,500 square metres, targeting small communities in high-density areas of Bangkok with easy access to the mass-transit system. Currently, Fitness First clubs average 3,000sqm. The new type of club will also be seen in the provinces.
The company aims to see a return on each new project within four years. This year, it projects revenue growth of 10-15 per cent to Bt1.5 billion from the 23 clubs it operates currently. This will help the company enjoy a 40-per-cent surge in profit.
Buchanan said there was more room to grow in the fitness business in the Kingdom as only 2 per cent of the population use such a service.
"We believe we can create more than 50 jobs for each club and also support sports-science education," he said.
The company employs about 1,200 people, 70-75 per cent of whom are fitness instructors with full international certification.
Next year, True Fitness plans to facelift its six clubs in Thailand with an investment of Bt180 million. Founder and chief executive officer Patrick Wee said the company had 30 centres across the region, in Singapore, Malaysia, Taiwan, mainland China and Thailand. It aims to expand to 50 centres in the region within five years.
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Two leading fitness firms in good health
How much did you save for retirement?
Posted: at 8:13 am
When we're laying the groundwork for our retirement plans, many of us spend hours noodling on optimal asset allocations, withdrawal rates, and income-replacement rates.
But another metric tends to receive far less scrutiny even though it's a far bigger determinant of whether we can retire when and how we'd like to: how much of our income we're able to save while we're working.
I recently surveyed Morningstar.com users about their own savings rates. Posting in the Investing During Retirement forum of Morningstar.com's Discuss forums, I asked readers if they had stuck with the old rule of thumb and saved 10% of their salaries, or if they had nudged their own savings rates higher. I also asked them whether in hindsight their savings rate was too high, too low, or just about right?
Responses, not surprisingly, ran the gamut, and many posters noted that they hadn't saved a fixed percentage throughout their pre-retirement years. Rather, many readers said that they saved somewhat half-heartedly in their younger years, then kicked up their savings rate aggressively when they started to get "real" about retirement, often in their 40s and 50s. "I wish I had started saving more aggressively earlier on!"--or some variation of that statement--was a frequently echoed refrain. To read the complete thread or share your own retirement-savings rate, click here.
'I Have Been Making Up for Lost Time'Although some readers advocated for a flat savings rate, many posters noted that their savings rate trended up as they aged, no doubt the result of a confluence of factors, including higher absolute levels of income, which makes it easier to save, and a greater sense of urgency about retirement, which naturally increases as we age.
The savings pattern laid out by Keith999, who expects to embark on a financially secure retirement soon, will ring true for many investors. "In my 20s I spent, in my 30s I spent more, then in my 40s began saving about 6% of salary, early 50s about 12%, and the last 10 years I/we saved 20% of two salaries. The last 10 years probably represent over 50% of the total saved and indeed has put us over the top of what we need."
ColonelDan's savings rate moved up in stairstep fashion: "I managed to save/invest 5%-10% of my early meager military pay; 10%-15% of military pay in the latter half of those 24 years; 20%-25% of my regular civilian salary plus 100% 401(k) catch-up amount, 100% employer's 401(k) match, and 100% of all bonuses."
Cterry notes that increasing one's savings rate as retirement approaches can have the salutary effect of preparing a pre-retiree to live on a lower income during retirement. "The advantage to ramping up savings so much in the nine years before I retired was that I didn't have to worry about 'Some advisors recommend 90%-100% of current income for retirement--do I need that much?' because I already was living on 70% of my gross."
Playing catch-up is the name of the game for many pre-retirees. For FidlStix, running the numbers on in-retirement income needs was a wake-up call. "About eight years ago I did my first estimate of how much income I might need during retirement. That was a shocker. I was 10s of thousands [of dollars] behind where I needed to be at that point. Since then, I have been making up for lost time. I jumped my percentage of salary saved to 22% including a 5% company match. I also started a Roth IRA five years ago, contributing about 10% additional on average. My total saved this year will be about 38% counting the Roth."
'I Was Finally Able to Really Do Some Saving'Family matters also figured heavily into many posters' savings-rate patterns. Not surprisingly, many readers noted that helping to defray college costs for their children had put a strain on their savings, but with college over, they were able to sock much more away. Juris2 wrote, "I've saved a bit more since my kids ended college in 2003 when I started a supplemental retirement account (SRA). I'm currently putting about 25% per year in my retirement account and SRA combined, including employer contribution, as I approach retirement in two years. (Almost all savings accumulated beyond the RA and SRA were wiped out by college costs for my kids.)"
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How much did you save for retirement?
3 New Reasons to Beef Up Your Retirement Accounts
Posted: at 8:13 am
Most of us could always stand to put a few more bucks into our retirement accounts. After a decade of lackluster returns for stocks during the 2000s, you may well have a lot of catching up to do in saving for retirement, and even the raging bull market of the past three-and-a-half years hasn't brought major market averages back to their pre-financial crisis levels. Given that Social Security is under siege and company pensions are rapidly becoming a thing of the past, what you save for yourself is definitely the most reliable source of funds you can count on after you retire.
Yet there's an even bigger reason that now is the best time to start finding ways to funnel more money into tax-favored retirement accounts like 401(k) accounts and IRAs. With the looming fiscal cliff just months away, the incidental tax benefits that retirement accounts provide could get a whole lot more valuable.
The worst-case scenarioWithout government action, a whole bunch of bad things are about to happen to your taxes. Let's take a look at the three basic categories of higher taxes that you may face:
1. Higher taxes on ordinary income are coming.Without a tax law change, income tax brackets across the board are going to go up. Although most of the attention has focused on the impact on the rich of higher brackets, the changes could potentially affect anyone who pays tax.
At the beginning of 2013, current law provides for the lowest existing tax bracket of 10% to go away, reverting to 15%. That could add $870 to the tax bill of married couples with incomes roughly in the $20,000 to $70,000 range. And obviously, adding three percentage points to the current 25%, 28%, and 33% tax brackets would produce a big hit on higher-income taxpayers as well. Although both parties have talked about agreeing to the need to renew tax breaks on low- and middle-income taxpayers, it hasn't happened yet.
The more you put in a deductible IRA or 401(k), the less taxable income you'll have. With tax rates rising, the savings you'll get from contributing to a retirement account will also increase.
2. Higher taxes on investment income are coming.The elimination of tax breaks on dividend income and the rise in long-term capital gains rates, while investment focused, will be costly for many taxpayers. Right now, those in the 10% and 15% brackets pay nothing in tax on qualified dividends, but that will rise to 15% in 2013 with no changes to current law. Those in higher brackets will lose the 15% limitation and pay whatever their higher rate is, up to 39.6%. That will eliminate the current penalty that investors in non-qualified dividend payers, including mortgage REITs Annaly Capital (NYSE: NLY) and American Capital Agency (Nasdaq: AGNC) , have to pay -- but only by raising the rest of the playing field to match the higher rate.
For years, dividend stocks have attracted new capital. But the new rules will make it more important than ever to shelter dividend income inside a retirement account. In particular, on high-yielding stocks Frontier Communications (Nasdaq: FTR) and Windstream (Nasdaq: WIN) , which have yields of 8% to 10% and whose dividends are generally eligible for lower tax rates, you could end up paying more than two-and-a-half times as much in taxes as you do now in a regular account. In an IRA, by contrast, you'll save more of your hard-earned money and let it work harder for you during your career.
3. Excess taxes for high-income taxpayers are coming.In addition to old tax law coming back to bite taxpayers, new increases are also on their way. Medicare withholding will rise by 0.9% once wages rise above certain limits -- $200,000 for most singles and $250,000 for joint-filing taxpayers. Also, a 3.8% surtax on investment income will apply to high-income taxpayers, making it that much more important to get high-yielding dividend stocks under cover of a tax-favored retirement account.
Get your money protectedTo reduce your taxable income and therefore your tax bill, IRA and 401(k) contributions are one of the most effective things you can do. The sooner you get money into those accounts, the better off you'll be -- and even if the fiscal cliff somehow gets fixed, you'll still have done a lot to make your retirement that much more secure.
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3 New Reasons to Beef Up Your Retirement Accounts
Planning for retirement, special-needs children
Posted: at 8:13 am
Dear Tax Talk, My husband and I are in our early to mid-70s. We have two children with special needs who are not self-sufficient. We have about $620,000 in a defined benefit plan, and we receive about $9,000 per month in pensions and Social Security, not including the defined benefit plan. The $9,000 will be reduced by about half when the first of us dies and will be about $3,000 when the remaining spouse dies.
We just moved to New York from California, where we sold a house that we bought for $300,000 in 1985. It sold for $2 million after closing costs. There was a $700,000 mortgage, leaving us with about $1.3 million. We know we have the $500,000 exclusion of gain, plus we put about $500,000 into remodels over the years, so our cost is $1.3 million. Our taxable gain will be $700,000, so we will be paying about $105,000 (15 percent) in federal taxes and $70,000 (10 percent) in California taxes. This leaves us with $1.1 million to buy a house in New York.
We want to buy an apartment that we will be happy in. We spend a lot of time at home and entertain a lot. If you can imagine, the apartments in Greenwich Village that we love are not very nice in the $1 million range. So our business manager suggested we put a small amount into a mortgage, so we can afford $1.3 million, a price at which we would be able to find something we like.
I am an actor, well thought of, and my husband is a playwright whose play is being done on Broadway this year with a major star, so he will probably make about $1 million before taxes. We have made very little over the past 10 years, but we love it here in New York and are doing well. But I am not making any money.
In addition to a house, my greatest concern is my kids. I think the apartment will be a good investment to leave for them, but also I feel we need second-to-die insurance and long-term care insurance. So I worry. Can you help? -- Margaret
Dear Margaret, The help to your question may very well reside in your question. Your business manager should be the person on top of planning for your children's future. If he can't do it, then he needs to find the right qualified professionals.
While second-to-die and long-term care insurance are great products, they're also best purchased at a younger age. These products also involve high commissions to the broker that sells them, obviously creating a conflict of interest in their recommendation. At this stage in your life, these products may not make economic sense for you or your dependent children.
If your husband is making up to $1 million this year from his play, you may want to consider additional contributions to the defined benefit plan. While an individual retirement account has an age limit for contributions, a defined benefit plan does not necessarily have to have an age limit.
With respect to the home sale, you have California taxes due on the sale. The same applies for New York and your husband's earnings. You may want to consider paying those taxes prior to the end of the year to make sure they're deductible. That is, anyone owing state income taxes should consider getting a prepayment in for the year to ensure the tax deduction.
Your CPA should prepare a tax projection to see what makes the most sense to pay to maximize your deductions and minimize any late-payment penalties. The projection should also be mindful of the alternative minimum tax. I hope this helps answer some of your concerns.
Tyco Retail Solutions Executive to Present "Making Omni-Channel Omni-Personal with Real-time Store Intelligence and …
Posted: at 8:12 am
BOCA RATON, FL--(Marketwire - Sep 17, 2012) - Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions sold direct and through authorized business partners worldwide, today announced Gordon Adams, Senior Vice President, Sales & Delivery, will present at "Reflections: The Annual User's Group & Conference"hosted by Tyco partner, Reflexis.Gordon's session, "Making Omni-Channel Omni-Personal with Real-time Store Intelligence and Execution," is designed for top retail IT executives and will explore how item level inventory visibility and adaptive store execution are required to deliver on customer expectations in an omni-channel, increasingly mobile retail world.
WHAT: Reflections: The Annual User's Group & Conference
WHERE: The Venetian Resort Hotel Casino, Las Vegas, Nevada
WHEN: September 19-21, 2012
WHY: Accurate, timely item level inventory visibility is the foundation enabling retailers to deliver competitive advantage with solutions that give today's consumer anytime, anywhere access to merchandise -- when, where, and how they want to buy it.To build this foundation for Omni-channel retail, real-time item level inventory transactions and updated data are necessary to effectively support enterprise-wide fulfillment & replenishment processes from all store locations.
The Reflexis Store Workforce and Task Management solutions provide retailers with the capability to better sense and respond to real-time events in stores to improve overall store performance and ensure employees are doing the right thing at the right time to provide the best possible in-store customer experience.The combined Tyco Retail and Reflexis solutions close the loop between actionable inventory intelligence and best-practice store execution supporting true omni-channel retail.
About Tyco Retail Solutions Tyco Retail Solutions, a unit of Tyco International, is a leading global provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Customers range from single-store boutiques to global retail enterprises. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility to their inventory and assets to improve operations, optimize profitability and create memorable shopper experiences.
The Tyco Retail Solutions portfolio for retailers is sold direct and through authorized business partners around the world.For more information, please visit http://www.tycoretailsolutions.com.
TYCO, ADT, SENSORMATIC and the product names listed in this document are marks and/or registered marks.Unauthorized use is strictly prohibited.
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Tyco Retail Solutions Executive to Present "Making Omni-Channel Omni-Personal with Real-time Store Intelligence and ...
Why the iPhone 5 Will Be a Success, and 5 Stocks to Benefit From It
Posted: at 8:12 am
By Andrs Cardenal - September 17, 2012 | Tickers: AAPL, BRCM, CHL, CRUS, QCOM | 0 Comments
Andrs is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.
The much-anticipated iPhone 5 is here, and the discussion is getting hotter by the day: Should you bet on the new Apple (NASDAQ: AAPL) product or is it a big disappointment signaling the end of the good times at Cupertino?
The bearish argument for Apple and the iPhone 5 is mostly related to the operational and technological aspects of the new product. Most people in this camp are pointing to the fact that the iPhone 5 does not include any big technological breakthrough. In comparison to the Samsung Galaxy S III, for example, the Apple product seems to bebehind in aspects like RAM, battery life or screen size.
On the other hand, I dont think that's going to be the main driver of a purchase decision for most customers.People buy Apple products because of their brand differentiation, image, and user experience. When the iPod was launched, the acronym idiots price our products became very popular, and there were some objective reasons for that. After all, the iPod was a more expensive MP3 player lacking some valuable features, like a radio.
But the consumer business is not only about objective and measurable reasons, and there are some counterintuitive aspects to consider. A higher price tag is not always a negative for sales. Pricing is a marketing tool, and Apple has positioned itself as the premium player in the industry. The iPhone 5 may not be better than the latest Samsung product based on technological capabilities, but its more elegant and cooler, mostly because its an Apple product.
Sales are off to an auspicious start, and I would expect nothing else than a new blockbuster from Apple in spite of some well-argued, though ultimately misguided, critiques of the iPhone 5. And the good news is than betting on the iPhone 5 doesn't require any sophisticated analysis, as shares of Apple itself still offer a considerable upside potential from a valuation point of view.
Make no mistake; in spite of the fact that theshare price ofApple has risen exponentially over the last years, and is even at all-time historical highs, the company is still trading at a P/E ratio of 16. This is below the average of 20 times earnings for the tech sector, and also below the five year average P/E of 22 the company has carried in the past. On a forward basis, the stock looks even more attractive with a P/E ratio of only 13.
And it doesnt end there.Many other companies will benefit from strong sales at Apple, with Qualcomm (NASDAQ: QCOM) being one noteworthy example. The company provides chips and technologies used in the iPhone 5, as well as the iPad and other high end smartphones, so Qualcomm is actually a bet on the mobile revolution, not just the new Apple smartphone. At a P/E of 19 Qualcomm is more expensive than Apple, but still reasonably priced for a tech leader with exciting growth prospects.
Another way to bet on the mobile revolution, with Apple as a main customer and the iPhone 5 as a middle-term growth driver,is Broadcom (NASDAQ: BRCM). The company provides chips for many highly demanded technologies including mobile, wireless and connectivity chips. Broadcom operates in a very competitive industry, but the company has positioned itself as a market leader thanks to its outstanding R&D capabilities. The stock trades at a P/E ratio of 26, but on a forward basis it carries a much cheaper ratio of 12.
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Why the iPhone 5 Will Be a Success, and 5 Stocks to Benefit From It
Can Apple Defy Gravity Forever?
Posted: at 8:12 am
By Richard Saintvilus - September 17, 2012 | Tickers: AAPL, DELL, HPQ, MSFT, RIMM | 0 Comments
Richard is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.
Sir Isaac Newton reminded the world that "for every action, there is an equal or opposite reaction." According to history, Newtons theory was said to have been inspired by a fallen apple.
Today however, and for better of the past three years, it is yet another Apple (NASDAQ: AAPL), a technological force, or as some would proclaim, "The leader of the free world," that now wants to defy gravity and proclaim its irrelevance. However, Wall Street has its own theory one that investors know all too well "what goes up, must come down." Nonetheless, so far Apples stock has been doing a great job convincing us that gravity does not exist in Cupertino. But the question is, for how long?
After being one of the best growth stocks on the market, the company almost gave in to gravity in the mid '90s as it flirted with bankruptcy with some nudging from rival Microsoft (NASDAQ: MSFT). Since then, Apple has been on a mission to not only redefine every market it enters, but kill off the previous leader Research in Motion (NASDAQ: RIMM) being the most recent casualty.
It started with the success of the iPod, which then convinced Apple it had a shot in the smartphone market. Since then, the company's cruising altitude has yet to be reached. Whats more, the success of its iPads have placed once-dominant PC manufacturers such as Hewlett-Packard (NYSE: HPQ) and Dell (NASDAQ: DELL) in a position to either reorganize their businesses or perish.
Now here comes its highly anticipated iPhone 5. That the company recently stopped accepting preorders means that we now live in a world where consumers value iPhones over oil. How else could Apple have surpassed ExxonMobil (NYSE: XOM) as the largest and most valuable publicly traded company in the world? But it doesnt end there. Because with any level of success it earns, Wall Street wants more.
On Friday, the stock closed at $691.28 after reaching yet another all-time high at $696.98. When one considers that the stock started the year at $403, it has gained as much as 73%. This is despite a disappointing fiscal third quarter where its iPhone sales underperformed broadly due to cannibalization of its anticipated iPhone 5. As noted, that preorders of the new phone have now ceased should serve as confirmation that this was in fact the reason.
What this means is that Apple is now playing by a different set of rules. Wall Street has shown to be completely unforgiving while demonstrating righteous anger towards any company that disappoints on earnings but not here. And it seems that what is now going on in the stock, aside from the bulls loading up in anticipation of higher highs, is that the Apple bears have caved in causing what appears to be a panic rally. They figure if a miss cant turn the tides, its best to change sides. But for how long can this momentum continue? One has to wonder that gravity, or in this case, logic has to step in.
The new iPhone 5 is now the primary driver of the stock. That, coupled with the prevailing horror of missing the run. The stock is now mere percentage points away from that magical and psychological $700 mark. There will be no resistance I assure you. The only question is, when it breaks $700 where is it heading next? If the early iPhone sales are any indication, year-end predictions of $750 not only now seem too conservative, but certain to be blown entirely out of the water. Investors should now set their sights on $800 and possibly $820 heading towards that all important holiday quarter.
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Can Apple Defy Gravity Forever?
Bank of China (Canada) Selects MasterCard to expand Personal Banking and Card Services
Posted: at 8:11 am
TORONTO , Sept. 17, 2012 /CNW/ - In a symbolic signing ceremony today, Bank of China ( Canada ) and MasterCard Canada announced a new agreement that will see the Bank of China ( Canada ) offer its first credit card in Canada as it expands its personal banking and card services.
"Extending our product line-up is an important milestone in building our personal banking service offering," said Heng Wang, Senior Vice President Bank of China ( Canada ). "We take enormous pride in working with companies that share our values and respect for our customers, and we look forward to a hugely successful relationship with MasterCard and other business partners."
The new Bank of China ( Canada ) MasterCard credit card will complement the bank's other personal banking services, including chequing and savings accounts, personal lines of credit, and mortgage services. In providing personal banking services, the Bank of China ( Canada )'s customer service representatives effectively communicate with its customers in multiple languages and dialects, such as in English, Mandarin, and Cantonese.
"This partnership with the Bank of China ( Canada ) is a great example of working with our customers to deliver flexible credit card solutions that will meet unique customer needs," said Betty DeVita, President, MasterCard Canada . "Together, MasterCard and its customers continue to bring MasterCard's safe, simple and smart payment technologies to diverse consumers and businesses."
About Bank of China ( Canada ) Bank of China ( Canada ), http://www.bankofchina.ca, is a wholly owned subsidiary of Bank of China Limited, was incorporated in Canada on September 8, 1992 and officially started its operation on May 18, 1993 . The Bank offers all kinds of retail and commercial banking services, such as deposit, loan, remittance, trade finance, foreign exchange, and Canadian dollar clearing. The Bank's Head Office is located at 50 Minthorn Blvd, Markham Ontario. At status quo the Bank has9 branches ( Toronto downtown branch, Toronto Scarborough branch, TorontoMarkham branch, Toronto North York branch, Toronto Mississauga branch, Calgary branch, Vancouver branch, Vancouver Richmond branch and Vancouver Burnaby branch), and hires more than 200 employees. Bank of China ( Canada ) offers the best RMB banking services in Canada . The Bank's mandate is to promote the development of economic and trade relations between Canada and China , serve over one million Chinese in Canada , and contribute to economic growth of both countries.
About MasterCard MasterCard NYSE: MA, http://www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
For more information, visit MasterCard Canada's Facebook page or follow @MasterCardCa on Twitter.
SOURCE: MasterCard Canada
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Bank of China (Canada) Selects MasterCard to expand Personal Banking and Card Services
Xismat Offers 360-Degree Feedback to Everyone
Posted: at 8:11 am
HAZMIYAH, Lebanon, Sept. 17, 2012 /PRNewswire/ -- Xismat announced this week the launch of SelfStir.com, a 360-degree, one-of-a-kind feedback development portal to aid with leadership and personal development. And it's completely free.
SelfStir.com is based on extensive research that has proven 360-degree feedback, coupled with coaching, to be effective in the development of executives around the world. It encourages and empowers people to engage, collaborate, and to build strong communities around shared aspirations.
And, since it has been so overwhelmingly successful in the workplace, Xismat decided to design a tool that could also be valuable to assist people in their personal development.
"Our one-of-a-kind approach integrates social aspects into a 360-degree feedback concept," explains Diana Seyouri, managing director for Xismat. "We have removed the strict corporate model widely used by executives, but have kept the design true to itself."
SelfStir.com makes feedback fun in a safe and anonymous environment. It allows people to learn about themselves through the eyes of others such as peers, friends and family, and to choose their own competencies to rate.
SelfStir.com gives people the ability to explore and assess 23 areas of competencies such as compassion/empathy; self awareness; inspiring trust; openness; positive attitude; influence without authority; collaboration; communication; empowerment; consultative decision making; vision and purpose; and wisdom.
SelfStir.com is designed for everyone. The system provides a comprehensive set of leadership development tools that are easy to use. It all begins with the survey and highlights strengths and weaknesses; it allows users to review results and to connect with others for support. Users will receive recommendations for areas of development and action planning. Journaling and access to professional coaches is also a plus. The system allows users to better understand themselves and gives them space for personal development and reflection in their careers, families and communities.
About Xismat:
The professional and diverse team at Xismat believes in protecting, sustaining and developing the environment that we all live in. Its mission is to encourage and empower people to treat each other with respect and to serve the common good. It is a values-based organization that is working to help make the world a better place.
For more information: http://www.xismat.com .
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Xismat Offers 360-Degree Feedback to Everyone
Florida online education provider K12 under investigation
Posted: at 8:10 am
TALLAHASSEE --
Every day, thousands of young students log onto the internet to take online classes.
They learn everything from arithmetic to American history and then get a grade that will count toward graduation.
Those grades are supposed to be awarded by certified teachers, but that may not be happening in the case of K12, a company contracted to run virtual schools.
The Florida Department of Education is investigating allegations of grades being doled out by uncertified teachers working for K12.
The company offers online classes in 43 Florida school districts, including Leon County, where district spokesman Chris Petley says red flags have gone up.
"We have a very limited number of classes (that) our students have taken specifically (from) this company, and in (those instances), we've had a couple where we have...moved the students," Petley said.
The revelation is casting new light on the integrity of the virtual school program, putting officials at the State Department of Education in a difficult position.
They now have to investigate the very company they've turned to in an effort to help reduce class sizes and save money.
It's a company that may also be using certified teachers to sign off on students they've never taught.
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Florida online education provider K12 under investigation