Eight Firms Settle RMBS Fraud Claims with FDIC

first_img June 2, 2016 3,098 Views Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago FDIC Residential Mortgage-backed securities RMBS Settlements 2016-06-02 Brian Honea Previous: Homeownership: Is the Opportunity There? Next: Plaintiffs Score a Victory in GSE Profit Sweep Suits in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: FDIC Residential Mortgage-backed securities RMBS Settlementscenter_img Eight financial firms have settled for a combined total of $190 million with the Federal Deposit Insurance Corporation (FDIC) over claims of misrepresenting the quality of certain residential mortgage-backed securities to five failed FDIC-insured banks, according to an announcement from the FDIC on Thursday.The FDIC, as a receiver for the five failed banks, filed six lawsuits from November 2011 to August 2012 claiming that the eight firms were in violation of federal and state securities laws regarding the sales of 21 Countrywide RMBS purchased by the five failed banks. In the suits, the FDIC claims there were misrepresentations in the offering documents for the 21 securities.The eight firms involved in the settlement are, alphabetically: Barclays Capital Inc.; BNP Paribas Securities Corporation; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities Inc.; Edward D. Jones & Co., L.P.; Goldman, Sachs & Co; Royal Bank of Scotland (RBS) Securities Inc.; and UBS Securities LLC. The five banks in receivership that will receive the settlement funds are: Colonial Bank of Montgomery, Alabama; Franklin Bank, S.S.B. of Houston, Texas; Guaranty Bank of Austin, Texas; Security Savings Bank of Henderson, Nevada; and Strategic Capital Bank of Champaign, Illinois. Four out of the five banks failed in 2009; the only one that did not was Franklin Bank, which failed in November 2008.With these six lawsuits, the FDIC has filed a total of 19 RMBS lawsuits on behalf of eight institutions, seeking damages for violations of federal and state securities laws, according to the FDIC. The last RMBS settlement for the FDIC prior to Thursday occurred in February 2016, when Morgan Stanley agreed to pay $62.95 million to settle four lawsuits which alleged that the investment banking firm sold toxic RMBS to three FDIC-insured banks that later failed, including Colonial Bank of Montgomery, Alabama.In August 2015, the FDIC filed a lawsuit accusing Bank of New York Mellon of breaching its duties as bond trustee for $2.06 billion worth of RMBS purchased by Guaranty Bank of Austin, Texas. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Eight Firms Settle RMBS Fraud Claims with FDIC  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Eight Firms Settle RMBS Fraud Claims with FDIC Share Save Subscribelast_img read more

Armored truck security guard fatally shot in face by ‘brazen’ robbers, manhunt ongoing: Police

first_imgKTRK(HOUSTON) — An armored truck security guard was fatally shot in the face by “brazen” robbers who attacked him in broad daylight outside a Houston fast-food restaurant, authorities said.Francis Hazzard, a Loomis Cash Handling Company security guard, was caught on video coming out of a Popeyes when he was attacked at about 1:40 p.m. Thursday, Houston police said.The three suspects, all armed with guns, approached Hazzard, who had left the restaurant with a black money bag. As they struggled over the bag, one suspect shot Hazzard in the face, police said.Hazzard, 68, died at the hospital.The suspects grabbed the bag of money and fled; it is not clear how much money they took, Houston Police Department Assistant Chief Pedro Lopez said.Lopez called the crime “very brazen.”“Who would commit a robbery at 1:30 in the afternoon?” he said at a news conference Thursday.The victim had a gun but it is not clear if he returned fire, police said Thursday.Hazzard was a passenger in the armored truck. Police did not comment on where the driver of the truck was at the time of the attack. A representative for Loomis did not immediately respond to ABC News’ request for comment.The manhunt for the attackers is ongoing.All three suspects fled in an SUV, which was later recovered and determined to be stolen, police said. It’s believed the suspects then fled in a 2014 black Chevrolet Impala.The FBI and ATF are involved in the investigation.Anyone with information is asked to call the police at 713-308-3600 or Crime Stoppers at 713-222-TIPS.Copyright © 2019, ABC Audio. All rights reserved.last_img read more

Margot’s childhood home snapped up by early buyer

According to CoreLogic data, Ms Kessler purchased the property in 2007 for $488,500 for the four-bedroom home. In 2014, Robbie paid off her mother’s entire mortgage as a gift for her 60th birthday. Inside the home. The social media post from 2014. Image from Instagram lockie_robbieThe home boasts hinterland and Surfers skyline views and a pool.“This renovated family home is perfectly positioned in a quiet cul-de-sac and offers open plan kitchen, dining and living rooms all flowing out onto a sheltered alfresco area, surrounded by lush tropical gardens,” the listing had stated. >>FOLLOW EMILY BLACK ON FACEBOOK<< While a Ray White spokesperson confirmed the Southport home owned by her mother Sarie Kessler was under contract, they could not disclose the price until the sale went unconditional. Holl­ywood superstar Margot Robbie’s mother Sarie Kessler’S Gold Coast house has gone under contract.Robbie has made regular visits to the Southport family home in between film projects.The film star has previously described her mother as “the sweetest person on Earth” and even took her to the 80th Annual Academy Awards. More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoAt the time Ms Kessler described the birthday as the “best one ever”.“It was an amazing thing (that Margot did) but I don’t want to say anything more about it,” she said at the time.“However, I was really disappointed it ended up on social media as it was a personal present.” RELATED: Robbie’s mum takes her Gold Coast home to auction The home was to go to auction on Saturday and is where Margot Robbie, inset, grew up.CoreLogic revealed Mina Place as a tightly held street, with the last sale being 9 Mina Place in 2012 for $490,000.Prior to that there were two sales in 2007, including Ms Kessler’s and 8 Mina Place for $600,000. Sarie Kessler and daughter Margot Robbie attend the 2018 Film Independent Spirit Awards in March in Santa Monica, California. Picture: Rich Fury/Getty ImagesACADEMY Award nominee Margot Robbie’s mum’s home on the Gold Coast will not go to auction this Saturday as planned after the property was put under contract. read more

YouTube sensation revolutionizing sports journalism

first_imgWe all know Doug Gottlieb has no love for the Badgers. Neither does Hubert or Seth Davis.The fact is, most national pundits either have incorrect (“They can’t score”) or unflattering (“They’re unathletic”) opinions of Bo Ryan’s bunch.But there is one big time analyst out there who isn’t just showing some love for the Cardinal and White.That man is YouTube sensation Kige (rhymes with mirage… sort of) Ramsey, who is taking the world of sports journalism by storm, one syllable at a time.“I think the Badgers can easily make the Final Four,” Ramsey, who is no-frills, no-insight and all opinion/fact, told me in a phone interview Thursday. “Bo Ryan. The Badgers are a good team.”It is razor sharp analysis like this that has made Ramsey an Internet rock star, with over 4,000 subscribers to his YouTube channel and having already caught the eye of Deadspin. Ramsey narrowly missed being named to the Deadspin Hall-of-Fame (becoming the Michael Irvin of this era) and was runner-up in the website’s 2007 Sportshuman of the Year Award, falling to the incomparable Isaiah Thomas, which is sort of like losing to George ‘The Animal’ Steele in an arm wrestling contest: There’s no shame in it.Ramsey, who is currently a student at Western Kentucky University (Go Western Kentucky Hilltoppers!), has built his status up through a unique, monosyllabic approach that is probably best described as being thoroughly minimalist.Sitting in front of a ’70s-esque wood panel background with assorted sports paraphernalia in the background, such as a poster of Vince Young or the Western Kentucky Wildcats emblem, K-Bomb delivers the word of the day in such a fashion that it evokes memories of FDR’s Fireside Chats… or at least what I would think those chats were like if I had been around to partake in them.“I have always wanted to be a sports broadcaster,” said the K-Man. “My dream would be to have a nationally syndicated talk show here in Bowling Green. And I will do it.”There is little reason to doubt the Notorious R.A.M-Z, as he has shown through his videos he has a true calling to shed light on the world of sport.For example, Ramsey recently ended all the wonder about the true identity of androgynous Western Kentucky Hilltoppers mascot Big Red — you’d know him from many a “This is SportsCenter” ad.“In my opinion, Big Red is a mascot,” Ramsey illuminated. “I think he is one of the best mascots.”He is unafraid to go out on a limb, naming Richard Petty the second greatest athlete of all time and correctly predicting the Western Kentucky Hilltoppers would reach the Sweet 16.I won’t say that K-Diddy is the savior of sports journalism… but I will point out that he was born on Dec. 25. Just chew on that.But K.R. isn’t just a sports expert. Not by a full bale of hay. He also is unafraid to chime in on matters of more social interest, such as escalating gas prices (“I fill up when I have about half a tank left. That is what saves you a lot of money when you fill up your gas tank.”), Nicole Richie’s eating disorder (“If you have anorexia (dramatic pause) go get tested and get help.”) and even the disintegration of the American Holiday (“I do not believe that companies should already have Christmas stuff out. It’s Sept. 30! Come on!”).But perhaps what makes Kige-asaurus most enjoyable is his love for his fans.“I do this really for the fans out there,” Ramsey said. “It is people that keeps me going.”And just to show he is a man of a people, he has filmed several of his reports from Wal-Mart, and welcomes interaction on Facebook (but NOT MySpace, which is “suspicious,” like PacMan Jones).And if you need one more reason to like Kige Ramsey, then here it is: His mom roots for the Badgers.“I really like the team you guys have there. I really hope you keep playing,” said Mom.This is Dave McGrath, Herald Sports.Dave McGrath is Badger Herald sports editor emeritus, and currently covers the Green Bay Packers for the Shawano Leader. He would like some reader feedback, so just post your answers on the comment section below (pointing down). 1. What is your favorite team? 2. What did you have for lunch? 3. Where do you want to live when you are old? 4. What team do you root for the most? 5. What is your least favorite TV show? 6. If this column were sponsored by a corporation, what corp. would it be?last_img read more

Tipp competitors miss out at Para-Cycling Championships

first_imgMeanwhile Waterford’s Damien Vereker and Tipperary’s Dermot Radford were 11th.However Ireland has taken a gold medal at the Championships with Katie-George Dunleavy Eve McCrystal winning the women’s tandem time trial. There was no joy for the Tipperary duo of Peter Ryan and Sean Hahessy at the Para-Cycling World Championships today.Peter from Upperchurch Drombane and Seán from Carrick on Suir paired up for the Tandem Time Trial in South Africa.They finished in 9th position – just over 2 minutes behind the winning Polish pair after the 31 kilometre effort.last_img

Better extension allows Ross Stripling to reach back for All-Star form

first_imgSunday’s outing looked a lot more like last year’s first-half version of Stripling as he held the Milwaukee Brewers to one run on four hits in eight strong innings, snapping the Dodgers’ six-game losing streak.It might have been triggered by some work between starts.Stripling credited strength and conditioning coach Brandon McDaniel with making the suggestion that maybe the right-hander wasn’t getting as much as he needed out of his lower half. Pitching coach Rick Honeycutt, bullpen coach Mark Prior and McDaniel brought the idea to Stripling.“There’s so much data and we looked at some of the stuff from last year when things were really going well and I was getting a little bit more extension,” Stripling said. “It seemed like I was using my lower half better so we focused on that during my bullpen (session). Just trying to free up my push-off hip a little bit and basically cut down the distance between me and the hitter a little bit. Basically get back to where we were last year.“Pitching is probably more lower half than upper half and if your lower half isn’t connected or being used to full efficiency then you’re not going to be throwing as hard, get tired quicker.” Dodgers hit seven home runs, sweep Colorado Rockies Meanwhile, Russell Martin is progressing slowly in his recovery from lower back inflammation that landed him on the injured list earlier in the week.“I don’t see him picking up a bat or throwing a baseball in the next couple days,” Roberts said. “His timetable is kind of cloudy right now… It’s more of a day to day thing and when the training staff feels he can do baseball-specific activities we’ll know more.”ALSOSeeking a fresh arm for their taxed bullpen, the Dodgers sent right-hander Dennis Santana to Triple-A and promoted right-hander Josh Sborz. A second-round pick in 2015, it is Sborz’s first major-league time. He pitched four scoreless innings over two appearances at Oklahoma City before the promotion.UP NEXTReds (RHP Luis Castillo, 1-1, 0.92 ERA) at Dodgers (LHP Clayton Kershaw, 2019 debut), 7:10 p.m., SportsNet LA (where available), AM 570 LOS ANGELES – Ross Stripling was an All-Star last season. And he understands if you’ve forgotten.“Yeah, I think so,” Stripling said Sunday. “It’s very much a ‘What have you done for me lately’-kind of sport, you know. I didn’t make the playoff roster. That’s the first thing I think of, so I’m sure it’s the first thing other people think of.“That was kind of the thing in spring training, to make sure I put it back in other people’s minds but also kind of get my own confidence back. The second half was the fluke and not the first half.”Stripling faded badly after the All-Star break last year. An accidental ace in the first half when injuries thrust him into the rotation, Stripling went 8-2 with a 2.08 ERA and 1.08 WHIP to earn the invitation to Washington. After that, though, he was 0-4 with a 6.41 ERA and 1.58 WHIP, lost his temporary spot in the rotation and watched the playoff run from the sidelines. Cody Bellinger homer gives Dodgers their first walkoff win of season How Dodgers pitcher Ross Stripling topped the baseball podcast empire center_img Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco Dodgers’ Max Muncy trying to work his way out of slow start HILL REHABLeft-hander Rich Hill (sprained knee) will make a rehab start Wednesday either for Triple-A Oklahoma City or Class-A Rancho Cucamonga. Dodgers manager Dave Roberts said the choice would come down to travel logistics and weather forecasts as it did for Clayton Kershaw last week. The OKC Dodgers are home on Wednesday. Rancho Cucamonga is playing in Lake Elsinore.Hill is scheduled to throw four innings or about 60 pitches and then possibly another inning in the bullpen after leaving the game in order to increase his pitch count. Hill has not pitched in a game since he injured the medial collateral ligament in his left knee on March 17.“We’ll see where we go after that,” Roberts said but Hill could join the Dodgers’ starting rotation during their series in Chicago at the end of their next trip.INJURY UPDATESLeft-hander Hyun-Jin Ryu will throw what Roberts described as “an aggressive bullpen” Monday afternoon to test the status of his injured groin muscle.Ryu does not usually throw bullpen sessions between starts, preferring to throw in the outfield on flat ground but the Dodgers want to see how his injured muscle reacts to the slope of the pitcher’s mound.Roberts said the throwing session would be “around the 40-pitch mark” and Ryu would “use all of his pitches.”“Seeing how he responds to that will give us a better idea of how aggressive we can be with him going forward,” Roberts said.Ryu will be eligible to come off the injured list on Friday.Related Articles Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Donegal’s Daniel set to take time off following sellout Irish and UK tour

first_imgDaniel O’Donnell is set to ‘recharge his batteries’ later this year as plans on taking time away from a busy schedule. The Donegal native is currently in the middle of Irish and UK tours before he heads to the US in November for his annual residency in Missouri.But he will be hanging up the microphone at Christmas, and says he’s looking forward to time off the road. Having just released a new album, he plans to honour all his existing commitments for next year, but said he hopes to spend more time at home with wife Majella and family.However, the 57-year-old hinted he might make time for some new TV projects, having made several hit shows with Majella.He told the Daniel fanzine: “There has been talk about us doing another American Road Trip following the success of the last one on RTE.“It’s a possibility, and maybe we’ll also do another B&B Road Trip in Ireland too.” Daniel also pledged to return to Sri Lanka, despite the Easter Sunday terror attacks by militant Islamists in Colombo which killed more than 250 people.He is a major star in the Asian country and is one of the most played artists on its biggest radio station.Weeks before the atrocity, he played a sold-out gig in Colombo.He said: “My first reaction on hearing about the bombings was some of those people may have been at our concert or their families were.“Like our own situation in Ireland, it’s terrible religion would be used as a cause. It should unite us and not divide. Hopefully we will be back in Sri Lanka someday.”Donegal’s Daniel set to take time off following sellout Irish and UK tour was last modified: August 24th, 2019 by Staff WriterShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

QPR want Arsenal man – reports

first_imgQPR are interested in signing Andrey Arshavin from Arsenal, Russian media have reported.Fulham have also been linked with the 31-year-old, who is out of favour at the Emirates Stadium and has been widely tipped to move this summer.It is claimed that Rangers are looking to take Arshavin to Loftus Road, possibly on loan.Zenit St Petersburg, who sold him to the Gunners in 2009, are keen to re-sign him but he is believed to want to join a London club.It was recently reported that Arshavin’s wife is expecting their third child and they are keen for their children to attend a school in the capital.This page is regularly updated.Follow West London Sport on TwitterFind us on Facebooklast_img

Groves splits from promoter Warren

first_imgGeorge Groves has split with promoter Frank Warren and is expected to link up with Eddie Hearn’s Matchroom.It means the unbeaten Commonwealth super-middleweight champion’s scheduled fight against Mohamed Ali Ndiaye for the vacant European title is off.The pair were due to meet at Wembley Arena on 16 March for the belt recently relinquished by Groves’ bitter rival and fellow West Londoner James DeGale.Warren snapped up Groves in 2011.Groves, 24, will continue to be trained and managed by Adam Booth.A statement issued by Frank Warren Promotions confirmed: “Groves has stated that he is not interested in boxing for the EBU title at this moment and would like to take his choice of fights in another direction.“Mr Warren would like to wish George all the best with his career and looks forward to working again with him in the near future.”Hearn also promotes Nottingham’s world champion Carl Froch, who has been touted as a possible future opponent for Groves.See also:Groves links up with promoter WarrenWarren vows to get Groves a world title fightGroves tipped to win world title in 2013Groves confirms move to MatchroomGroves weighs in ahead of Wembley 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 Follow West London Sport on TwitterFind us on Facebooklast_img read more

Fever pitch at Green Point

first_imgAn artist’s impression of the inside ofCape Town’s Green Point Stadium.(Image: City of Cape Town) An artist’s impression of Green PointStadium, with the ocean in the foregroundand Cape Town’s landmark TableMountain in the background.(Image: City of Cape Town) Green Point Stadium under construction inFebruary 2008.(Image: Rodger Bosch,MediaClubSouthAfrica.com.For more free photos, visit the imagelibrary.)Lusanda NgcaweniNo matter what side of the fence you stood on a year ago, you probably won’t be able to hide your enthusiasm when you set eyes on the striking new football stadium in Green Point, Cape Town, which is to host eight Fifa World Cup matches in 2010, including a semifinal.Ever since it was proposed, the idea of building a new stadium in Green Point for 2010 has been plagued by political disputes. But despite the setbacks, and with the 2010 Fifa World Cup kick-off just under two years away, plans are finally coming together.Currently, the main challenge facing the Green Point Stadium – a joint venture between firms Murray & Roberts and Wilson Bayly Holmes-Ovcon (WBHO) – is completing construction on time, according to project director Andrew Fanton. The structure is being built on a 10.6-hectare site and has a seating capacity of 68 000.The dedicated team of about 2 000 labourers, 400 supervisory staff and 35 subcontractors is working hard to ensure the 14 December 2009 target is met.“We are approaching completion of the level-five elevated slabs and are on target to complete the entire superstructure to receive the roof compression ring in September 2008,” Fanton says.The grass for the pitch is being specially cultivated and is scheduled to take about four months to plant, with the process starting in August 2009. The glass roof will also be custom-made. “The glass is not only an aesthetic element, but required to weigh the roof down for Western Cape environmental conditions. The glass forms part of the roof structure which is being delivered by a joint venture between US and German companies, Birdair-Pfeifer.”Fanton says the benefits of working on such a large assignment far outweigh the challenges. “Projects of this size and complexity allow us as an industry to not only re-tool our businesses from a plant and equipment perspective, but also to train and develop our trade labour and supervision to deliver a core competence in this type of construction.“We as team Green Point are very proud to be tasked with this project for the City of Cape Town and South Africa as the 2010 host nation. Personally, I am looking forward to December 14 2009.”Empowering the workforceMurray & Roberts and WBHO have put their money where their mouths are, investing R6-million in the Green Point Stadium Training Centre, an impressive facility focusing on the construction and engineering industry.“The Green Point Stadium is the biggest construction in Cape Town,” says Antoinette du Toit, training manager at the centre. “When we started looking for workers, there weren’t enough. The construction industry had expressed the need to formalise skills, but nobody was doing anything about it. Because of a skills shortage in South Africa, we were bringing in people from Indonesia.” The boom in the building industry in Cape Town didn’t help matters, as shutter hands had to be brought in from Johannesburg, and steel fixers from Durban in KwaZulu-Natal and Port Elizabeth in the Eastern Cape.The centre not only trains new people from scratch, but certifies existing skills as well. The certification is for those who, for example, have been doing scaffolding work for years but without a qualification. In the past when they began new projects they always had to start as unskilled workers as they lacked proof of their abilities.“The assessment, which recognises their skills level, is 100% neutral,” says Du Toit. “We have assessed about 400 people so far and they have walked away with a national certification.”Launched in August last year, the centre has also trained about 200 people who came in as general workers, but showed potential to be shutter hands and steel fixers. “The training centre has done wonders for productivity and general motivation of staff, none of whom will walk away from this project empty-handed.”Fanton agrees that the training process is making a difference on site. “It definitely develops a good team spirit. It’s about creating an understanding of what we want to achieve with respect to project delivery. This [training and certification] creates the will – then it’s about skilling and drilling to deliver consistent performance,” he says.As an incentive, the centre ensures workers get paid during training. “This has made a big impact on safety because the more trained people you have working on a site, the fewer the accidents,” Du Toit says.Training is not limited to on-site workers. There is a huge interest from tertiary institutions that bring in design, architecture, engineering and construction students. About 24 interns are also being trained at the centre and have the opportunity to gain some practical experience. They get to interact with the experts in the field, such as chief engineers, quantity surveyors and project managers.With the shortage of construction training centres in Cape Town, the Green Point facility is also open to other construction companies that need to provide workers with training. This helps cover the centre’s running costs.Because a national system was preferred, Du Toit says they decided to subcontract the training. “The company we use provides the trainers and the material. Qualified workers get a proper national certificate, which is Seta-accredited.” The Services Sector Education and Training Authorities (Seta) manage the skills development process in the South African workplace.Pulling in the publicPart of the controversy surrounding the building of the Green Point Stadium was rooted in the area’s history. The Green Point Common, the 130ha piece of land on which the new Fifa Stadium is situated, was granted to the Cape Town City Council in 1923 by the Union Government as commonage for general public recreation. The extent of the common has been substantially reduced over the years for urban development, but remains a substantial and significant public open space – especially for those living in the area.To promote the idea of constructing a new costly stadium on the valued commonage, Murray & Roberts, WBHO and the City of Cape Town decided to open a visitors’ centre so reluctant locals and visitors to the city could see the site, track the stadium’s progress and have all their questions answered. Although the old Green Point Stadium had already been demolished for the new one close by, its presidential suite was still standing. This was the ideal place to convert into a visitors’ centre, says Silvana Dantu, project director of the Green Point Stadium Visitors’ Centre.The visitors’ centre helps educate the public on, among other things, the size of the new stadium and its environmental implications. It also enables school children to learn more about the project and gives access to people who wouldn’t necessarily get to see the stadium during the 2010 World Cup, adds Dantu.The facility boasts an extensive photo library, memorabilia from South Africa’s football history and puts on a one-man show for audiences. Visitors are also taken on a guided bus tour of the actual football pitch and can watch a short documentary, The Game Plan, which introduces the project’s major players and gives visitors an idea of what it takes to create a stadium that size. Visitors are then taken on a virtual tour of the completed Green Point Stadium as it will appear in 2010.Dantu believes the visitors’ centre should be the hub of the 2010 Fifa Local Organising Committee and the City of Cape Town. “We are documenting who is visiting the centre as part of the history of building the stadium. By the time it is complete, the Green Point Stadium will have a history of its own. For me it is such a privilege to get the opportunity to do something like this, to host one of the biggest events in the universe. Imagine … Ronaldinho will be here! The benefit of the experience will be to see the euphoria!”Shifting the goalpostsThe one-man show staged at the visitors’ centre, The Greensman, is a multi-media portrayal of the history of the Green Point Common andactor Apollo Ntshoko is the idea person to play the title role. “When I was a schoolboy at Langa High School, I used to come and watch soccer here,” he says of the new stadium’s site. Langa is a black township less than 10 minutes’ drive from central Cape Town. The Greensman is sure to evoke a sense of nostalgia for locals who know the area’s background and provide a gripping history lesson for adult and child visitors.“The best thing about his job,” Ntshoko says, is to see people who were vehemently opposed to the building of the 2010 Green Point Stadium, leaving the centre having changed their minds and being big fans.“It is a privilege for me to be telling this story and to play a small part in this, the first Fifa World Cup to be hosted on African soil. I can’t explain the feeling. My biggest wish is for the World Cup to open with The Greensman.”Lecture series, schools programmeMurray & Roberts and WBHO’s latest venture is the 2010 Lecture Series, which was launched in July 2008. “Hosted twice a month, these lectures will include a guided tour of the stadium construction site so the public will have a total experience of our spectacular 2010 stadium,” says Dantu.“All the lectures will be conducted by interesting and passionate experts who are integrally involved in the planning and implementation of national projects towards 2010.”The first lecture, on 13 August 2008, was presented by the stadium’s leading architectural firm, GMP Architekten of Germany. Project manager Robert Hormes discussed the design, construction and future use of the 2010 stadium and gave some background on GMP’s work globally.The visitors’ centre, in partnership with the City of Cape Town, also runs a free schools programme, which includes a tour of the centre, history on the Green Point Common and information on careers in engineering, architecture and construction. Murray & Roberts and WBHO use the buses for transporting its workers to ferry the youth to and from the centre – sometimes travelling as far as 72km to ensure South Africa’s younger generation in more rural areas don’t miss out on the developments.“So far over 6000 children have visited the centre. Soccer is a nice way of integrating communities from different backgrounds. It gives all the children something to aspire to, and makes the 2010 World Cup seem accessible to them,” Dantu says.Power of 10The visitors’ centre also doubles up as the site where new workers are inducted. “New workers get a motivational piece using soccer as inspiration for life,” says Dantu. “Football analogies with important qualities such as being a team player and keeping your eye on the ball are highlighted. To complete the stadium on time, we need workers to be motivated, to pull together and to be aware of safety measures such as wearing a hard hat at all times, wearing the correct regulation boots and not using a cellphone on site.”Inspiration and motivation are not limited to the induction, but extend to the construction site as well. As football fans know, the striker, who wears the number 10 jersey, is one of the most integral members of a football team. Some of the world’s most revered footballers have played this position, including Brazilian star Edison Arantes do Nascimento, better known as Pelé; Argentinian Diego Maradona; Portugal’s Eusebio (Eusébio da Silva Ferreira); Brazilian Ronaldinho (real name Ronaldo de Assis Moreira); and Frenchman Zinedine Zidane.All the workers on the site wear overalls with the number 10 on the back, which signifies the crucial role each one has to play in the construction process, irrespective of their level of experience. It also denotes the importance of teamwork.With all the initiatives that Murray & Roberts and WBHO have undertaken at the Green Point Stadium, there’s no doubt they will leave a legacy behind. After the 2010 Fifa World Cup, the area around the stadium will be integrated into an urban park, says Dantu. “The plan is to have a big garden which is open and free to the public, with a walkway from the stadium to the beach front and the Victoria & Alfred Waterfront.”Do you have queries or comments about this article? Email Lusanda Ngcaweni at [email protected]’ Centre informationTours can be adapted for different groups and cost R40 for adults and R20 for children and pensioners.Times of toursMonday to Friday: 10h00 and 14h00Saturdays: 10h00 and 12h00Free school tours: 12h00 dailyTickets to the 2010 Lecture Series cost R100.Contact Lana at the Green Point Stadium Visitors’ Centre on +27 (0)21 430 0410 or email [email protected] linksGreen Point Stadium Visitors’ CentreMurray & RobertsWBHOA history of Langa townshipThe Group Areas ActGreen Point Common Associationlast_img read more