NEWSCAST - Tuesday, July 9th, 2019
- Western leadership will have more ability to capitalize on significant strategic projects, such as securing national research facilities or investing in global partnerships, thanks to the creation of a new $250-million fund, the Board of Governors announced at its regular meeting last week.
- The Major Strategic Opportunities Fund is intended “to seek and seize new major initiatives which have the potential of having transformational impact on the institution.”
- The money comes from returns on the investment of non-endowed funds in the university’s various investment pools. The fund will not be used for general university operations or strategic initiatives routinely supported through the operating budget.
- For years, the university has allocated one-time resources to support various strategic initiatives as needed. However, this new fund offers both the structure and flexibility to expand that process for lasting impact.
- All allocations from the fund will require approval from the Board of Governors, after first being recommended by the President, Provost and Vice-President (Academic) and Vice-President (Operations and Finance).
- Eligible projects that could draw from the fund include securing a major national or international research facility; establishing strategic and deeper collaborative academic and research partnerships with an international partner; funding research initiatives; and acquiring properties.
- Although the fund will not be endowed, it will be managed similar to an endowment so that it continues to support these opportunities in perpetuity. Efforts will be made to grow the fund gradually so that it can respond to future opportunities that may require larger investments.
- The fund will have a minimum reserve of $100 million. Annual allocations will be a minimum $10 million with a maximum of $50 million per year. Any major investments exceeding that amount can be funded through multi-year allocations.
- In other Board action:
- Federal, provincial and municipal candidates are now barred from posting election signs on university property, Western’s Board of Governors announced at its June meeting.
- The ban replaces a policy that once restricted election signs to interior locations on bulletin boards or in floor displays, if approved by Facilities Management.
- For University Students’ Council (USC) elections, a lengthy list of signage rules has been replaced by a blanket statement that the USC election guidelines about signs will apply.
- An additional 50 cannabis retail stores in Ontario won’t be enough to bring down the price of pot products for consumers, according to industry experts.
- The Alcohol and Gaming Commission of Ontario, the province’s marijuana retail regulator, is holding a second lottery in August to award 42 retail licences to open stores beginning in October. Another eight licences will go to First Nations communities.
- Cannabis consumers can expect prices to drop as the market matures — just like what happened in Colorado, the first U.S. state to legalize recreational pot — but not in the near future.
- Ontario has taken a phased-in approach to opening marijuana retail stores, citing a Canada-wide supply shortage. The federal government says it’s working with licensed pot producers to ease the supply and is making progress, but critics are skeptical of that claim.
- A handful of the first 22 brick-and-mortar stores — three of the initial 25 still haven’t opened — have cut back their hours because they were running out of stock.
- FC London’s men’s team got back in the win column on Saturday with a 2-0 victory over Toronto Skillz FC at German Canadian Field. After a goalless first half, Dominic Szyska opened the scoring in the 54th minute, with Connor Wilson following up with his fifth goal of the season in the 72nd. London now moves to 4-6-0 on the year, snapping a four-game losing streak.
- The women’s team were in Durham over the weekend, taking on Durham United. The two teams battled to a 1-1 draw, with Jade Kovacevic scoring the only London goal, her 15th goal of the season in nine games played.
- Both FCL teams will have games this weekend back in London.
- To the diamond, the London Majors will be in action tonight, hosting the Kitchener Panthers in a rescheduled game from Friday night.
- Kitchener currently sits tied for the top spot in the IBL with defending champ Barrie at 16-6, while the Majors are looking for their third straight win, sitting at 13-12, good for fifth in the league.
- First pitch will be at 7:05pm tonight from Labatt Park.
- Can’t make it to the diamond? Catch yours truly on the Facebook Live broadcast, just go to the London Majors Facebook page!
- We have a nice one on our hands today, with a high of 29 expected this afternoon with some slight humidity making it feel like 32.
- Still hovering around 26 this evening before going down to 17 overnight.
- Tomorrow will see a high of 31 in the afternoon with a chance of showers, with that turning into a risk over thunderstorms in the evening.
- Then Thursday will be a high of 26 with a risk of thundershowers as well.