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PERSONAL FINANCE: Will you outlive your assets?

31/08/2010 No comments

PERSONAL FINANCE: Will you outlive your assets?

It is important that retirees invest in a
diversified manner across all asset classes. By spreading your investments
across various asset classes, you will be less vulnerable where a particular
class underperforms.

Mrs Gomez is 72 years old. She has always been a
diligent, disciplined saver, and planned ahead for a secure and comfortable
retirement. She is a conservative investor and retained most of her savings in
the money market so that she could earn regular income. When the stock market
plummeted in 2008, she sold off the last of her shares, which she had held for
decades and thereafter placed all her hard-earned money in a bank deposit. Her
investments had traditionally earned her about 15% per annum; this made it
possible for her to take care of her monthly expenses.

Everything changed in June this year; Mrs Gomez
received a letter from her bank informing her that the interest rate on her
investment had been reduced to 3%. This came as a huge shock and she wondered
how she would cope with such a drastic reduction in her income. As she is
completely dependant on the interest on her savings, she sees her long-term
capital dwindling and fears that her living standards will soon be affected.
Her worst nightmare is that her money may run out well before she does!

Seek professional advice

It is important to seek professional financial
advice. A financial advisor will take a holistic view of your current financial
circumstances, and then devise an investment strategy that is in line with your
own unique situation. Taking into account your age and lifestyle, it will be
possible to determine how far you can stretch your funds, given certain
assumptions.

Don’t put all your eggs
in one basket

Senior citizens are usually discouraged from
taking risk and are more likely to be advised to hold most of their money in
‘safe’ investments that are capital protected. Cash is a most tempting asset
class, particularly in volatile times, yet it holds little promise of long-term
wealth creation, with inflation eating away at the principal and eroding the
value of their funds. With interest rates this low, it is difficult to earn any
meaningful income from your money without assuming at least some degree of
risk. It is thus important to invest in a diversified manner, spreading your
money across various asset classes. By doing this, you will be less vulnerable
where a particular class underperforms.

Whilst stocks have historically outperformed
other asset classes over the long term, for most old people the priority is to
preserve what they have. Without the advantage of a long period of time,
assuming such risk at this stage may not be appropriate as this is sure to
increase the risk and volatility of your returns over the short and medium
term.

If you are uncomfortable with, or cannot afford
to take any risk whatsoever, then it is important to remain in cash and hope
that rates will eventually recover. In the meantime, you may need to dip into
the principal to tide you over the volatile period, which could well be for an
extended period of time. In this regard, you may need to revisit your lifestyle
requirements, and cut back on your expenses for some time.

Dividend yielding stocks

Dividend yielding stocks, that is, stocks that
provide a decent cash flow, are one of the keys to a successful retirement
portfolio. The inclusion of such stocks can go some way to protect investors
from stockmarket volatility by compensating with dividends. Dividend yields on
some stocks are fairly predictable and can be as high as 5% and more, which is
higher than current money market rates. In addition, the growth prospects of
some of the companies present capital gains.

A cautious investor may prefer to invest in
equity mutual funds, which pool investors’ funds to invest in the stock market.
They are more diversified and as such, not as risky as direct investments in a
handful of individual stocks.

Can bonds help?

Bonds play an important role in any portfolio,
either through the purchase of individual bonds or via bond mutual funds.
‘Laddering’ bonds involves buying an assortment of bonds of various maturities
and then staggering the maturities over say one, two, and three, years. As each
bond matures, it may be re-invested for another period thus helping to set a
base level of income that can be relied upon to support retirement spending
needs.

Consider purchasing an
annuity

Another way to potentially receive regular income
and address the prospect of longevity, is to purchase an annuity from a
leading, reputable insurance company. Insurance companies in exchange for an
amount of money should be able to provide you with guaranteed income for a
specific period of time or sometimes for life. After determining how much
income you will receive from your pension and other investments you might
consider purchasing an annuity to make up the shortfall.

Annuities come with different terms and
conditions and can be quite complex for the lay investor. It is important that
you fully understand the terms and carefully weigh your options to be sure that
the fees and charges are not excessive and remove the advantage of such a
strategy.

Whilst low interest rates are generally viewed as
being detrimental to savings and of concern to those that rely on fixed income,
a low interest rate regime is expected to spur economic growth. In an ideal
world, companies and businesses should be able to borrow at affordable rates,
thus lowering their costs of production contributing to their profit margins.
As they invest in new factories and plants, and production increases, they hire
more workers with a reduction in unemployment. Consumers can also borrow at
cheaper rates than they ordinarily could and are able to reduce their personal
debt.

As a retiree focused on capital preservation and income generation, it is
easy to ignore the possibility of bonds, high-quality, dividend yielding
stocks, and other asset classes in a portfolio. Yet, there is the increasing
prospect of having to fund a 20-year post retirement period. By regularly
reviewing your retirement strategy, and ensuring diversification and exposure
to the various asset classes, you should be in a better position to navigate
market volatility and ensure your capital lasts for the rest of your life.

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Money

Experts charge government on corruption

31/08/2010 No comments

Experts charge government on corruption

Some finance experts have said that until the Nigerian
government is serious about the war against corruption, the country may never
see significant development in the years to come.

Akinbade Ibisiola, head, research team, at Resource Cap Company,
a portfolio management firm, said corruption is the only “cancer” that is
eating the development status Nigeria should have attained.

“I see no reason why Nigeria at 50 years old cannot achieve some
serious level of developments like other nations, since we have both human and
natural resources,” Mr Ibisiola said.

“The only problem here is that a country like ours, where
different governments keep awarding the same project at different cost, can
never see significant improvement in infrastructure, the basic tool for any
economic development,” he said.

Afrinvest West Africa Limited, an investment management company,
in a report last month, also noted that the past government seemed to have lost
its grip on Nigeria’s anti-corruption war, as the successes achieved by the
Economic and Financial Crimes Commission (EFCC) have been eroded.

“Prior to Ribadu’s removal, the fear of arrest and conviction by
the EFCC was an ever growing consciousness in the minds of Nigerians,
especially within the political class. Under his leadership, the
anti-corruption war led to the prosecution of several high profile individuals
including former state governors, cabinet ministers, and senators, a scenario
that was hitherto unprecedented,” the report said, adding that despite
criticism that the EFCC was selective in its approach to fighting corruption,
there was noticeable change in the conduct of public officials.

“Nigeria made such significant strides in the war against
corruption that it climbed out of the bottom of global rankings in the
corruption perception index,” the report said.

Hopeless case?

According to the report, the current state of affairs in Nigeria
is “extremely disheartening” and leaves one with a feeling of hopelessness.

“Where an agency of government loses direction, following a
change of guard, shows inherent weaknesses in the nation’s governance and
institutional structures. A situation in which a contract for the construction
of a second runway at the Abuja international airport was awarded at the sum of
N64 billion ($400m) indicates a brazen proclivity towards misappropriation of
funds.Though this contract was only recently revoked, it is indicative of the scale
of abuse present within all three tiers of government across the nation,” it
said.

The report said the 48.4 percent in the 2010 budget over 2009,
which, according to government figures, was only 39 percent implemented, also
follows a similar trend of gross inflationary provisions for both recurring and
capital expenditure, without sufficient justifiable explanation.

Experts said for the government to deliver its goals of vision
2020 projects, making Nigeria one of the developed countries, President Goodluck
Jonathan has to find the political will to fight corruption headlong, as the
obvious slide down the corruption perception index will continue to impede
Nigeria’s quest for sustained economic growth.

On banking reform

In the same development, Kingsley Moghalu, Central Bank’s deputy
governor on financial system stability, recently said Nigeria has a lot to
learn from the developed nations, especially on the reformation of the banking
industry.

Citing an example, Mr. Moghalu said Nigeria needs to learn from
the new financial law, the Dodd-Frank Wall Street Reform Consumer Act, which
has just been signed into law by President Barrack Obama in the United States
(US).

“That Act is very important because of the dominant position of
the US in global finance. The banking reform exercise in Nigeria has some
similar characteristics with the Dodd-Frank Act,” he said, adding that “when
you see the characteristics, you’ll discover that there are strong parallels in
what is happening in Nigeria today and what the Central Bank is trying to do.
That makes it very clear that the reforms the CBN is setting out are not just
isolated idiosyncratic reaction to financial crisis, but are part of global
best practice adapted to the Nigerian condition,” he said.

Mr. Moghalu said one of the characteristics of the Act is that
it increases the authority of regulators to resolve systemic threats.
“Regulators can now break up threat financial firms whose capital collapsed and
has negative system life implication,” he added.

He also said that the Dodd-Frank Act contains the Volcker Rule,
which is important to the Nigerian economy.

“The Volcker Rule prohibits large banks from making speculative
propriety trades with their own funds. It limits banks, investment of banking,
edge funds and private equity funds to a maximum of three percent of every bank
capital, and it requires banks to spinoff non-core banking businesses and
financial derivatives.

“I think this is exactly what is happening in Nigeria. We have come to see
that it is time to split core banking out of non-banking business. We have our
own Volcker Rule, and it will be coming out very shortly,” he said.

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Money

Shareholders panic as Exchange prepares to delist MTech

31/08/2010 No comments

Shareholders panic as Exchange prepares to delist MTech

When Eunice Okeke bought shares of MTech Plc in July, 2009,
through her stockbroker, she thought she was making a worthy investment. The
shares had been listed by introduction on the daily official list of the
Nigerian Stock Exchange (NSE), under the information and communication
technology subsector, at N2.50 a few weeks earlier. At that point, investors
who had participated in its private placement barely a year before at the price
of N1.50, had already reaped a handsome 66.7 percent returns on their
investment.

MTech Communications had, in May 2008, raised N3.5 billion by
offering to prospective investors 2,333,333,334 ordinary shares of N1.00 each
at N1.50 per share. The offer was fully subscribed, proceeds of which was to
expand its business and enhance returns to its shareholders.

It was the hope of such returns that prompted Mrs Okeke to
invest in the firm, which was the first Value Added Services (VAS) company to
be listed on the exchange. On June 9, 2009, a total of 4,966,666,668 ordinary
shares of 50 kobo each were offered at N2.50 kobo per share, bringing its
market capitalisation to N12.42 billion. Chika Nwobi, cofounder and managing
director of the company, said of the listing, “we decided to list by
introduction so that those who have invested in the business can have an option
of liquidity.”

Unfortunately, the listing was done at a time when the stock
market was in turmoil due to the global financial meltdown, which had began to
take its toll on the Nigerian economy. By November 23, the share price had
slipped to 91 kobo, a depreciation of over 63 percent. Initial investors were
already making profit.

False declaration

However, any further hope that the shares would appreciate
according to the dynamics of market forces were dashed finally when, on
December 14, the NSE council suspended trading on the shares in order to
protect the investing public. In a letter dated December 11, 2009, and signed
by the former director general of the stock exchange, Ndi Okereke-Onyiuke, the
council accused some parties in the offer of tampering with the register of
members, overstating of the share capital of the company, as well as false
declaration of compliance filed with the exchange prior to listing of the company.

The letter, which was copied to the CBN governor, managing
directors of the Central Securities Clearing System, Platinum Capital,
Greenwich Trust, and MTech, stated, “We are aware that the Securities and
Exchange Commission and the Central Bank of Nigeria are considering matters
arising from the dispute between MTech Communications Plc and members of the
Bank PHB Group.”

The letter was in reaction to an earlier communication by MTech
to the exchange to the effect that these discrepancies had occurred. “Upon the
conclusion of action by the commission on the matter, the exchange proposes a
comprehensive review of the listing status of the company with a view to
delisting it from the official list.”

Sola Oni, spokesperson of the NSE, said MTech had some challenges
with Bank PHB over its private placement.

“Upon listing of the company, there were some discrepancies in
the register of shareholders and the council decided that until they make
clarifications, the shares may be placed on full suspension,” he said, saying
although the exchange did not give the parties a deadline to respond, it did
not also foreclose further investigation as the issues involved borders on
criminal intent. “We should get to the bridge before we cross it. For now, we
have not received any response from them,” he said.

Indebtedness

However, NEXT investigation revealed that directors of Mtech
were indebted to Bank PHB, through its subsidiary, PHB Asset Management Company
Limited. A source in the company, who spoke off record, said the directors of
the bank who were involved in the transactions had been relieved of their
employment, following the intervention by the Central Bank of Nigeria in the
troubled bank last year. Bank PHB is owed a total of N170.1 billion by 149
individuals and firms.

According to the source, at the conclusion of MTech’s private
placement in 2008, which was fully subscribed, Bank PHB failed to remit the
full N3.5 billion. The bank instead opted to deduct the amount owed it by the
directors and remit the balance. MTech is refusing to accept this arrangement,
as it was outside the terms of the placement agreement.

Kayode Falowo, managing director of Greenwich Trust, which acted
as stockbroking to the listing, said his firm was not involved in the
discrepancies mentioned. “I have repeatedly said that we are not involved with
these accusations. We wish to reemphasis that Greenwich is not involved with
the falsification of figures or tampering with shareholders register,” he said
in a text message.

MTech reported

Efforts to speak with Mr Nwobi was unsuccessful, as he refused
to respond to calls to his mobile. A source close to the company, however, said
it was the company that discovered the discrepancy and decided to notify the
regulators. In addition, the MTech had taken the PHB Group to court alleging
that its register of shareholders had been tampered with. The company insisted
that it reported the case to SEC and CBN and sought protection for its
shareholders by requesting the suspension of trading in its shares from the
NSE, pending resolution of the matter.

“MTECH’s directors have not been involved in (1) falsification
of figures (2) tampering with shareholders register. The directors and MTECH
Plc do have a dispute with BankPHB, PHB Asset Management, and PHB Capital and
Trust over irregularities in the handling of MTECH’s private placement and
listing,” a statement from MTech said. “The matter is before the Federal High
Court so no further comment can be made on it.”

An insider to the transactions, however, said MTech was being
economical with the truth. He said the directors, who were indebted to Bank
PHB, were looking for ways not to pay back their loans.

“We gave some individuals loans. They have not paid. If they say
we tampered with their register of members, there are documents, signed off by
MTech, which is still available. We have the list of people that subscribed to
the private placement. So when the time comes, there are documents to show the
true position of things,” she said.

However, while this corporate battle lingers, hapless shareholders of the
company are left in the lurch. They cannot get value for their investment for
all they are worth. When the shares are eventually delisted by the NSE, the
shareholders would have recorded a loss of about half the value of their
initial investment as at the time the shares were listed.

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Money

Ministry condoles with sports journalists over Enechi’s death

30/08/2010 No comments

Ministry condoles with sports journalists over Enechi’s death

Ibrahim Bio,
Minister of Sports and Chairman of the National Sports Commission, has
described the death of the immediate past Chairman of the Sports
Writers Association of Nigeria, Emeka Enechi, as a great loss not only
to the sports lovers but also to Nigeria.

Enechi was, until
his death yesterday, the Business Development Manager of Sports Day
Newspapers, a media organization based in Lagos.

‘‘It is very sad
that at this time when his family and nation needed him most death took
him away. This is a very sad development; words cannot describe my
grief.

“I was looking
forward to meeting him and other members of the sports fraternity
during the Sports Summit, which begins in Lagos today, but unfortunate
death took him way. The Almighty Allah knows what we human beings don’t
know, may his soul rest in perfect peace.”

‘A great loss’

Patrick Ekeji, the
Director General of the sports commission said Enechi’s contribution to
sports development was not just as a reporter, but also as
administrator, having served on the board of many national sports
associations, games and championships organizing committees and the
Lagos State Sports Council.

‘‘This is a great
loss; I don’t know what to say. I have spoken to his colleagues and
employers and I can only pray that God will give all of us the grace to
bear the loss. This is a great loss to Nigeria, especially the sports
family. I extend my condolences to his family and members of the sports
family’’, Ekeji said.

The late Enechi had
a brief stint with The Guardian newspapers before joining This Day
Newspapers where he rose to the position of Group Sports Editor, and
later Deputy Editor of the Sunday title. He was one of the founding
editors of Sports Day Newspapers.

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Sports

Osaze crashes with Westbrom at Anfield

30/08/2010 No comments

Osaze crashes with Westbrom at Anfield

After a brilliant
start in the English Premier League, where he scored on his debut with
newly promoted West Bromwich Albion, Super Eagles striker, Osaze
Odemwingie failed to get on the score sheet as his side succumbed to a
1-0 defeat away to Liverpool.

The Nigerian
striker, who was one of the Baggies best players on the day, proved a
thorn in the side of Liverpool but failed to get the better of the
defenders when it mattered. Liverpool made sure that the hangover of
the 3-0 loss to Manchester City was partially cured with Fernando
Torres’ half volley. Liverpool started the better side in the early
parts looking for the early goal to calm the Kop, but West Brom stood
firm especially through central defender, Jonas Olsson. The Norwegian
stood firm and kept a close leash on Torres throughout the game. There
was a first start for Christian Poulsen and he started in the position
vacated by departed Javier Mascherano. Raul Meireles was also unveiled
before kickoff. Olsson almost scored an own goal in the 36th minute
when his attempted back-pass evaded Scott Carson but it went out for a
corner kick. Liverpool fans were getting restless as the visitors
visibly grew in confidence; and an attempt on target by West Brom, and
subsequent save by Pepe Reina led to the Liverpool goal. A combination
between Dirk Kuyt and Torres freed the Dutchman and he fed the Spaniard
on the edge of the box to volley in. That was in the 65th minute, and
that helped Liverpool to their first three points. Torres almost
doubled the scores in the 72nd minute but Carson made a great block.

City shocked at Stadium of Light

Manchester City had
dominated the early exchanges and was just waiting for the first goal
but £180 million worth of City could do nothing about the 94th minute
penalty goal by Darren Bent. Mancini will be ruing the bad miss by
Carlos Tevez in the 13th minute when Yaya Toure dribbled past Kieran
Richardson and ran through the midfield before serving up the ball on a
plate for Tevez. The Argentinean somehow contrived to scoop the ball
over the bar. Sunderland had to replace Michael Turner and Frazier
Campbell during the half time but started the second half the better of
the two teams. The match will have ended square but Micah Richards
fouled Bent in the 93rd minute. The English international dusted
himself down and drilled to the right side with Joe Hart diving the
other way. Sunderland had snagged an unlikely three points and Mancini
will be asking questions of his squad today.

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Sports

Mixed fortunes for Heartland, Eaglets

30/08/2010 No comments

Mixed fortunes for Heartland, Eaglets

Nigeria’s only
surviving club in the CAF Champions League, Heartland on Sunday
recorded their first win of the group stage of the continent’s top club
competition when they beat visiting Egyptian club side, Ismaily.

The encounter
played at the Dan Anyiam Stadium, Owerri ended 2-1 in favour of
Heartland but the team’s coach Samson Siasia will still have cause to
complain about his misfiring forward line as all of his side’s goals
against Ismaily came from defenders.

Heartland needed to
win in order to keep alive their fading hopes for a semi final berth
after failing to win any of their opening three games of the group
stage. And to make matters worse for Siasia’s side, it was the visitors
who shot into the lead after 29 minutes through Mohamed Soliman Ali.

That lead, however,
lasted for only nine minutes before the team’s skipper Ike Thankgod
pulled them back on level terms with the Egyptians who two weeks
earlier defeated Heartland in Egypt 1-0.

Heartland’s last
home encounter against another Egyptian side Al-Ahly, back in July, had
ended in a one-all draw and Owerri fans will be forgiven for thinking
that it was going to be the same case scenario against Ismaily until
former Enugu Rangers captain Chinedu Efugh popped up to score the match
winning goal with five minutes left on the clock.

The win saw
Heartland swapping places with Ismaily in the Group B standings but
anything less than a win in their upcoming game against Al-Ahly in two
weeks time will mark the end of the Owerri side’s Champions League
aspirations.

Eaglets grounded in Congo

It was, however, a
different story in Pointe Noire, Congo where the Nigerian Under 17
national team, the Golden Eaglets, fell to a 2-0 defeat at the hands of
their hosts in an African Junior Championship first round, first leg
qualifier.

The Golden Eaglets,
silver medal winners at the last FIFA World Cup held in Nigeria last
year, fell behind after just eight minutes through a penalty kick goal,
but they afterwards kept the Congolese at bay to go into the dressing
room at the half-time break just a goal down.

Worse was to come
their way in the second half as they conceded a second goal two minutes
before the hour mark before the match’s centre referee from the Central
African Republic Bertrand Bekai issued a red card to the Nigerian coach
Monday Odigie for challenging some of his calls.

Odigie’s expulsion
means he will not be on the bench when both sides meet in the return
leg encounter in Nigeria on September 11.

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Sports

Klitschko won’t last the distance, says Peter

30/08/2010 No comments

Klitschko won’t last the distance, says Peter

Samuel Peter is
confident of scoring a knockout victory over reigning IBF and WBO
heavyweight champion, Wladimir Klitschko, when both get to slug it out
on September 11 in Frankfurt, Germany.

Five years ago,
Peter had Klitschko in big trouble, having knocked him down three
times, including twice in the fifth round, during their heavyweight
fight in Atlantic City, United States. But in the end, Klitschko
rallied to win the bout, with winning scores of 114-111 on all three
judges’ cards. It has been a long wait for the Nigerian, but he now has
a chance to redeem himself and become a world champion when he takes on
the big Ukrainian five days after his 30th birthday.

Proving a point

“I have a lot to
prove. I have a chance to redeem myself from the 2005 fight. It is
going to be a great fight. I am getting another chance to prove that I
am the best heavyweight champion in all,” said Peter, who will turn 30
on September 6. “The loss was a bad mistake. This time I am going to
prove that I can become a champion again,” said Peter. “For sure, on
September 11 in Germany it is going to be a great fight. I don’t have
much to say because I know that my gloves will speak for me in the
ring.”

With a record of
34-3 that includes 27 knockouts, the Nigerian Nightmare’s resume
includes victories by split decision and unanimous decision over former
world titlist, James Toney, as well as a March 2008 sixth-round
knockout of Russian Oleg Maskaev that earned him the WBC belt. In his
next bout after beating Maskaev, Peter was dethroned as WBC champion
via a knockout loss to Wladimir’s brother, Vitali Klitschko, in October
2008. That bout saw Peter churning out a lacklustre display against the
older of the Klitschko brothers which he followed up with yet another
uninspiring performance in March 2009 against Eddie Chambers, which the
Nigerian Nightmare described as the low point of his career.

Thinking ahead

“I will be looking
for that boy again after this fight,” said Peter. “I don’t know how
that boy did what he did but after this fight I will take care of him.
Everything was frustrating at that time. I had lost the championship,
and the promotion was so bad. But I am okay now, and everything is
straight up. I have the best promoter in the world, and the best coach
in the world. I have the best manager in the world, and I am going to
be the best.” Peter, who has been training with his trainer Abel
Sanchez in Big Bear, California, said he is enjoying his training.
“Everything in Big Bear is great,” he said. “It is a great place to
train. It is very peaceful. I didn’t know about Big Bear for all these
years, but it is a great place to train. Abel brought me up here, and
he doesn’t take my nonsense. He doesn’t take ‘No’ for an answer. He
wants to see working. I am happy about being here.”

German factor

Klitschko has never
lost a fight in his adopted nation, Germany. It was also in the
European nation that Peter lost by TKO to Wladimir, but he is confident
the upcoming title fight will not last the distance thanks to his
punching power. “The victory and my judges I have in my right hand and
the judge is my left hook,” he declared.

“There will not be a decision
this time around. This time he will not get up from my left hook. I am
ready and I am prepared and I will not need a referee or a judge. This
time around anyone I touch will not be standing up. I don’t think
Wladimir will be able to stand me after four rounds.”

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Sports

Madrid may have Mourinho, but Barca will still be best

30/08/2010 One comment

Madrid may have Mourinho, but Barca will still be best

New season, same
old story. In my mind, there is no way Barcelona’s dominance of Spanish
football will end this year, even if you consider Real Madrid will no
doubt improve under the guidance of Portuguese coaching maestro Jose
Mourinho.

The two-time
defending champions are just too strong and too solid to finish below
their old rivals in the league table. And while I’m in the predicting
mood, here’s my forecast for the other movers and shakers for the
forthcoming season in the Primera Division Champions – Barcelona Last
season, Barca and Real staged a duel of epic proportions. It was a case
of “whatever you can do, I can do better.” When the dust settled, Pep
Guardiola’s side had set a new record for points, while Real came close
to beating the mark for most goals scored.

This year, both
sides will push each other all the way once more, and in my mind, the
same team will come out on top. Considering Barcelona picked up one of
the best strikers in the world in David Villa to play alongside Leo
Messi and Pedro up front, it means they will be virtually unstoppable.
Even if the fragile Andres Iniesta succumbs once again to injury, this
team is just too good to fail. With Xavi running the show in midfield,
they will dazzle their opposition in Spain and finish first.

So what about Real
Madrid, you ask? Well, they will improve. Especially at the back. Jose
Mourinho is known for his safety first approach and Los Blancos will
concede less goals than they did last year. However, like the
Portuguese coach admitted himself, it will take a while to get the best
out of his players. The Special One revealed his team will only be
truly special after the second season he is in charge, so they will
come up short this year.

An X-Factor that
will affect the title race in Spain is how far both teams make it in
the European Champions League. Real president Florentino Perez is
obsessed with winning the competition again, and Mourinho himself will
prioritize Europe’s top prize ahead of La Liga considering they haven’t
won it since 2002. Barcelona could also put Europe first since they
have won the last two domestic titles and what they really want is to
rack up their Champions League trophies while in possession of the best
team in their history.

Over-achievers: Valencia

This is a really tough one to call because there are so many teams that could surprise this year, but I am going with Valencia.

Considering they
lost David Villa, David Silva and Nicola Zigic, many could believe Los
Che would tumble down the league table in the coming campaign, but I
believe they will still manage to qualify for the Champions League.

Why? Well for
starters, although they needed to sell some of their top players in an
effort to balance the books, Valencia have a great head coach in place.
Unai Emery is a diligent student of the game and proved last year that
he has a knack for making his team better than the sum of its parts.

Secondly, there is
still plenty of talent in this squad. World Cup winner Juan Mata,
Argentine midfielder Ever Banega and winger Pablo Hernandez are all
exciting young players. Add to the mix veterans like David Albelda and
Joaquin, and you have a promising season ahead.

Their close-season
signings were also very impressive. Strikers Roberto Soldado and Aritz
Aduriz, who between them scored 28 goals for Getafe and Mallorca last
season, should get plenty of goals at the Mestalla, and Portugal
central defender Ricardo Costa is also a good acquisition.

My verdict is that Valencia will finish fourth, behind Barcelona, Real Madrid and Sevilla.

Under-achievers: Atletico Madrid

Expectations are
always so high at the Vicente Calderon, and more often than not, Los
Colchoneros don’t live up to them. With stars such as Diego Forlan,
Sergio Aguero and Simao Sabrosa, this team should finish in the top
four. However, from what I hear, the atmosphere in the dressing isn’t
great and I don’t think the players will put their bodies on the line
for coach Quique Sanchez Flores.

Last season,
Atletico finished in a disappointing ninth place and I don’t see them
climbing a lot higher in the new campaign. Their recent signings don’t
impress me too much and consequently they will once again flatter to
deceive, with Forlan and El Kun scoring their share of goals.

Top scorer: Leo Messi

This is a tough one
to call because both Barcelona and Real will score a LOT of goals this
season, and both teams feature several players who could finish on
double figures. At the Camp Nou, David Villa’s tally could eat into
Messi’s haul, but the Argentine superstar will once again win El
Pichichi title.

Cristiano Ronaldo,
who had 26 goals in 29 league games last season, will see his total go
down. I believe Mourinho won’t want the team to be CR9-dependent and
therefore expect Higuain, Kaka, Di Maria and others to pitch in with
their fair share of strikes.

An outside
contender is Roberto Soldado. He has a great goalscoring record since
leaving his hometown club Real Madrid, netting for fun at Osasuna and
Getafe. He should get plenty of chances at his new team, Valencia, and
could finish the season near the top of the charts.

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Federer secures Annacone move

30/08/2010 No comments

Federer secures Annacone move

Roger Federer has
agreed to hire Paul Annacone as his new coach after the pair hit it off
during a one-month trial. Federer said Annacone would join forces with
Swiss Davis Cup captain Severin Luthi in coaching him.

“We’ve moved it
from a test trial to integrating him into the team now, so that’s going
ahead,” Federer said at Flushing Meadows.

American Annacone,
best known as the former coach of Pete Sampras and Tim Henman, joined
Federer’s camp earlier this month and the pair enjoyed instant success
when the Swiss won the Cincinnati Masters.

Federer said
Annacone had agreed to work with him on a part-time basis during the US
Open, starting on Monday, and would be part of his regular team once he
finished his current job with the British Lawn Tennis Association in
November.

“Obviously he has
had stuff to do for the LTA here and he will have things to do
obviously after the US Open, which I’m cool about.” Federer has
experimented with several different coaches over the years whenever he
felt his game needed improvement.

Although he won the
French Open for the first time last year to complete his own career
Grand Slam, then broke Sampras’s record of Grand-Slam titles, Federer
has had a lean time this year by his own standards.

He won the
Australian Open in January but was knocked out in the quarter-finals at
the French Open and Wimbledon and slipped to third place in the world
rankings.

He moved back to
second place after winning in Cincinnati last week and the 29-year-old
believes the inclusion of Annacone could be the key to getting back on
top.

“It’s just nice to hear a fresh, different voice for a change,” Federer said.

“I just think the dynamics work really well with Severin, and Paul
and me coming into the conversation just makes it really interesting. I
can go with a very clear mindset into the matches.” Federer has won the
US Open five times, from 2004 to 2008, the same number as Sampras and
Jimmy Connors. He lost last year’s final to towering Argentine Juan
Martin Del Potro.

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Heartland need a win for survival

30/08/2010 No comments

Heartland need a win for survival

Only one result
will be good enough for Heartland FC of Owerri today as they try to
resurrect their fading CAF Champions League title aspirations; and that
is victory against visiting Egyptian Club, Ismaily at the Dan Anyiam
Stadium in Owerri.

The Naze
Millionaires, as last year’s losing finalist are fondly called by their
supporters are currently languishing at the bottom of Group B with just
one point and a goal from three matches.

ThankGod Ike who is
the Heartland’s captain says his teammates hope to break their scoring
drought in the league and record their first win of the group stage
against their Egyptian opponent as they go head-on in today’s crucial
tie.

“Everything is
possible in football. It’s unfortunate that we are at the bottom of our
group but all we need is just the three points on Sunday and from there
we can find our way out of the group” he said.

Ike, who was a member of the home-based Super Eagles team that won the WAFU tournament some months back continued:

“We’ve had hard
luck in front of goal and we hope to start scoring against Ismaily on
Sunday. Everybody is serious about winning the game; the club’s
management has told us of the importance of the game and we are
confident of a win” he said.

Interestingly, the
Egyptian team earned their first victory (1-0) in the group stage of
the competition against Heartland in Ismaila a fortnight ago, but Ike
believes his team will make amends in today’s reverse fixture to
brighten their chances of advancing from Group B while also expressing
confidence in the team’s technical bench led by Samson Siasia.

“Our coaches have
been doing a great job and the spirit in camp is very high. Samson
Siasia and Emeka Ezeugo are known names in African football having made
their mark as players. They have given us the needed encouragement and
determination to turn things around,” the Nigerian international said.

Tough task

Meanwhile, the
team’s Head Coach Samson Siasia, says he is focused on the day’s
assignment and not distracted by the Super Eagles job lurking around
the corner.

“The job for me now
is to see Heartland progress in this competition. They were at the
finals last year and it won’t be good to see them do less under me this
time around” the Beijing 2008 Olympic Games silver winning coach said.

Siasia who has
continually found it difficult coaching at club level with previous
stints at local sides JUTH FC and Ocean Boys turning out uneventful
hopes, said he can help Heartland out this time around.

“It’s a tough call
but nothing is impossible. There have been issues but I’m happy the
management has done a lot in terms of paying salaries up-to-date. I
appreciate what the government is doing.

“On the part of the
players, we are trying to give them the confidence to play for
themselves and the country. The Orange CAF Champions League is a big
competition and it will expose the players for other bigger clubs to
see.

“I am happy with
the present situation in camp and I believe we can earn the three
points on Sunday with the mood in camp,” he told cafonline.com.

Goals concern

According to
Siasia, his major concern for the team has been the inability to score
goals despite creating lot of chances – a situation he hopes will
change today.

“We can get things
going once we can start scoring. We still have three games and the
outcome of our match on Sunday will be crucial in our chances of
progressing to the next stage.

“Really, we want to
score goals. If you look at the statistics of our games, we had more
chances and better possession than our opponents had, but we failed to
score.

“This time we don’t
want to just keep possession but score as many goals as possible to
give us a chance of qualifying. We didn’t take our chances before now
but I believe Sunday will be the beginning of a new dawn for us,” he
said.

In Bello Musa
Kofarmata, who scored the opener in the 1-1 draw with Al Ahly in
Owerri; winger John Owoeri and midfielder Ikechukwu Ibenegbu; Siasia
has a potent strike force he believes can help wrestle out the maximum
three points at stake today.

Group standings

The standings in
Group B sees Algeria’s JS Kabylie sit in pole position with the maximum
nine points while Six-time champions Al Ahly are second with four.

Ismaily are third
with three points while Heartland, are currently at the bottom of Group
B with just one point from three matches, only managing to score just
one goal and conceding three.

After today’s match
Heartland will travel to Cairo in the second week of September to play
Al-Ahly before they wrap up their group campaign at home to group
leaders JS Kabylie a week later.

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