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Governors to Shut Down Counties from September 16 over Revenue Row

The County Governments will not be able to pay salaries at end of this month going forward

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Governors, Counties, Revenue
File image of Council of Governors Chairman Wycliffe Oparanya.

BY GEOFFREY ISAYA

All county operations will be paralysed from Monday, September 16 if the stalemate over the Division of Revenue Bill 2019 is not resolved. Counties.

In a statement issued on Thursday, Council of Governors Chairman Wycliffe Oparanya said county governments are cash-strapped and will have no option but to shut down if the ongoing revenue row is not resolved within the next two weeks.

“The County Governments will not be able to pay salaries at end of this month going forward. Beyond, the 16th of September 2019, if the matter is not resolved the County Governments will have no option but to shut down,” read the statement.

The Senate and the National Assembly are locked in a push-and pull over the amount of money that should be disbursed to the counties.

Governors, Counties, Revenue
In a statement issued on Thursday, Council of Governors Chairman Wycliffe Oparanya said county governments are cash-strapped and will have no option but to shut down if the ongoing revenue row is not resolved within the next two weeks. Pixabay

While the National Assembly has stuck to a Ksh.316.5 billion allocation to counties, the Senate insists the devolved units should be handed Ksh.335.6 billion.

The matter is already before a mediation committee composed of representatives of both houses of Parliament.

Meanwhile, in various counties workers are yet to receive their July and August salaries even as delivery of essential services remain grounded.

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President Uhuru Kenyatta has since declared that the government does not have unlimited resources and will therefore not allocate any additional revenue to counties.

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Apple CEO Tim Cook Took Home $125mn in 2019, Less Than in 2018

The company's stock rose by nearly 90 per cent last year

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Apple CEO Tim Cook speaks during a data privacy conference at the European Parliament in Brussels. VOA

Apple CEO Tim Cook took home $125 million as his pay package in 2019, slightly lower (nearly 8 per cent) than $136 million which he received in total compensation in 2018.

According to an SEC filing, Cook received $3 million as base salary in 2019 but his bonus slid to $7.67 million from $12 million, reports Seeking Alpha.

“Cook’s total pay fell last year as the company failed to top its financial targets by as much as in 2018, but Cook still amassed $125 million in total compensation,” the report said on Friday.

APPLE’s board set less ambitious goals for 2019, lowering its sales target by 3 per cent from 2018 to $256.6 million and its profit target by 15 per cent (YoY) to $60.1 billion.

Cook, 59, earned about $11.56 million in non-equity compensation for 2019 — a 26 per cent decline compared to 2018 when he earned nearly $15.7 million.

“In 2019, Apple’s performance exceeded the target performance goals for both net sales and operating income, resulting in a total payout of 128 per cent of the target payout opportunity for each named executive officer,” Apple said in the SEC filing.

Apple, Tim Cook, Campus, China
Apple CEO Tim Cook discusses the new Apple iPhones and other products at the Steve Jobs Theater during an event to announce new products in Cupertino, California. VOA

Apple shares hit $300 for the first time in late December and closed at $297.43 on Friday.

Apple shares hit a new all-time high of $300 on Thursday, marking significant growth over the course of the last year.

In early January 2019, Apple shares were at $144.

Also Read: Reports Say, Indians Watched Over 2,200 Movies in Theaters in 2019

Apple stock has surged owing to reports of better than expected aCE iPhone 11aCE and 11 Pro sales and reports of stronger AirPods Pro sales.

The company’s stock rose by nearly 90 per cent last year. (IANS)