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How Risky Is Kinder Morgan Canada? | Kinder Morgan Canada (NASDAQOTH: KMLGF) (TSX: KML) has a very low-risk profile today. But you can't examine the Canadian midstream company in isolation or without a close look at its history. When you step back and consider the big picture, it becomes clear that investors are taking on more risk than they may realize if all they consider are the company's financials. A strong company Kinder Morgan Canada owns three main assets: the Edmonton Terminals, the Cochin Pipeline, and the Vancouver Wharves Terminal. It's a relatively small company, with a market cap of $380 million and expected adjusted EBITDA of $213 million in 2019. That's barely a rounding error when you compare it with the company's parent, Kinder Morgan Inc. (NYSE: KMI), which is projecting adjusted EBITDA of $7.8 billion this year. A man turning two valves on a pipeline More Image source: Getty Images That said, Kinder Morgan Canada is projecting distributable cash flow of $0.90 per share and dividends of $0.65 per share. That leads to robust distribution coverage of almost 1.4 times in an industry where 1.2 is considered very good. Moreover, Kinder Morgan Canada's ratio of debt to adjusted EBITDA is projected to be around 1.3 times in 2019. That's a very conservative leverage ratio that puts the midstream company in a league with conservative industry bellwethers like Magellan Midstream Partners. For reference, parent Kinder Morgan Inc.'s debt-to-EBITDA ratio has been up around 6 in recent years. MMP Financial Debt to EBITDA (TTM) Chart More MMP Financial Debt to EBITDA (TTM) data by YCharts As for growth, Kinder Morgan Canada plans to spend around $32 million on expansion projects at its three assets. It's projecting 13% EBITDA growth in 2019, which is noteworthy, but a longer-term growth catalyst is missing. Which is where the trouble starts to show up here. Kinder Morgan Canada is in a transition today because of a huge asset sale it made in 2018. It has a solid foundation, but the asset sale that's left it so financially strong has also left it without a clear long-term direction. What you need to know beyond the numbers Kinder Morgan Canada is a young company, spun out of Kinder Morgan Inc. in 2017 to own the trio of assets that are its only operations today, along with the Trans Mountain Pipeline. That pipeline was a multibillion-dollar growth project that was expected to drive Kinder Morgan Canada's business for years to come. But local pushback put the project in jeopardy, leading Kinder Morgan Canada to sell the asset to the Canadian government for roughly $3.4 billion. It was a good move to get out from under this troubled project. | https://news.yahoo.com/risky-kinder-morgan-canada-021900422.html |
Who had the top high school basketball performances from the week? | CLOSE Emoni Bates, who is a freshman this season, is already gaining national attention. Joey Delgado, Special to Detroit Free Press These are the top performances from Michigan high school basketball from Feb. 11-15: Boys Caleb Albrecht, Lapeer: Recorded 22 points in Lapeers 73-53 victory over Flint. Brett Barriger, Sanford Meridian: Accounted for 21 points in Meridians 60-42 win over Midland Dow. Jalal Baydoun, Dearborn Edsel Ford: Had 39 points, five rebounds, five assists and four steals in Edsel Fords 83-73 victory over Gibraltar Carlson. He also eclipsed 1,500 career points, setting a new school record. Ryan Berger, Plymouth: Finished with 26 points in Plymouths 52-31 win against Hartland. Toriano Bibbs, Ecorse: Recorded a double-double 24 points and 12 rebounds to go along with four blocks in Ecorses 73-53 win over Detroit Leadership. Lorne Bowman II, Orchard Lake St. Marys: Scored 19 points in St. Marys 46-38 loss to Detroit U-D Jesuit. Gabe Brady, Sanford Meridian: Finished with 22 points in Meridians 77-38 win over Farwell. Austin Brown, Madison Heights Madison: Logged 20 points in Madisons 56-55 loss to Eastpointe. Muhammad Ceesay, Romulus: Finished with a double-double 24 points and 15 rebounds in Romulus 65-58 win over Dearborn Heights Robichaud Thursday night. He also poured in 15 points in Romulus 42-32 win against Redford Union Friday night. DaVeaun Cole, Pontiac: Finished with 24 points and eight rebounds in Pontiacs 76-39 defeat of Hazel Park. Nate Etnyre, Plymouth Christian: Recorded a game-high 27 points in Christians 82-56 loss to Southfield Christian (14-6). Ty Fortney, Taylor Trillium: Recorded a double-double 18 points and 12 rebounds in Trilliums 67-65 triumph over Ann Arbor Prep. De'Jon Gantz, Warren Mott: Recorded 33 points, six rebounds and six assists in Motts 81-75 win vs. Grosse Pointe North. Chris Gary, Oak Park: Recorded a team-high 28 points in Oak Parks 70-67 defeat at the hands of Troy. Pat Ghaly, Rochester Hills Stoney Creek: Logged 18 points and nine rebounds in Stoney Creeks 50-49 loss to Auburn Hills Avondale. Javaughn Hannah, Mount Clemens: Recorded 18 points and eight rebounds in Mount Clemens 63-50 loss to Hamtramck. Jack Hannon, Pontiac Notre Dame Prep: Recorded a team-high 20 points in Notre Dame Preps 59-44 loss to Lake Orion (10-8) Wednesday night. Da'Jion Humphrey, Southfield Christian: Logged a double-double 19 points and 14 rebounds in Christians defeat of Plymouth Christian. Will Johnson, Grosse Pointe South: Logged a double-double 22 points and 10 rebounds in Souths 73-48 victory against Marysville. Joseph Kimmerer, Hale: Recorded a double-double 28 points and 15 rebounds in Hales 66-40 win against Alcona. Isaiah Lewis, Wayne Memorial: Accounted for 19 points and seven assists in Memorials 61-43 win over Belleville Thursday night. He also had 26 points and four assists in Memorials 80-41 win over Livonia Churchill Friday night. Drew Lowder, Ann Arbor Pioneer: Logged 19 points and six assists in Pioneers 86-47 win against Monroe. Glenn Miller, Pentwater: Finished with 19 points, five boards and five steals in Pentwaters 48-34 defeat of Manistee Catholic Central. Donavan Moore, West Bloomfield: Produced 27 points in West Bloomfields 64-63 triumph over Detroit Edison. Seth Ochoa, Sterling Heights: Recorded 23 points in Sterling Heights 40-38 defeat of Macomb LAnse Creuse North. Brody Parker, Troy: Scored 30 points in Troys triumph over Oak Park. Kendall Perkins, Canton: Logged 18 points and seven rebounds in Cantons 75-62 win against Plymouth. Kasean Pryor, Ann Arbor Pioneer: Recorded 33 points and nine rebounds in Pioneers win over Monroe. Noah Rheker, Southfield Christian: Contributed 21 points in Christians victory vs. Plymouth Christian. Jerez Rinehart, Gibraltar Carlson: Recorded 24 points in Carlsons loss to Dearborn Edsel Ford. Vinson Sigmon, Canton: Scored 23 points, and recorded five assists in Cantons 75-62 victory vs. Plymouth. Nate Talbot, Lake Orion: Finished with 28 points in Lake Orions win over Pontiac Notre Dame Prep Wednesday night. Evan Thomas, Okemos: Finished with a double-double 21 points and 12 rebounds in Okemos 55-53 victory against Lansing Everett. B. Artis White, Canton: Finished with 24 points and four steals in Cantons 75-62 win against Plymouth. Rayvon Williamson, Detroit Community: Posted 37 points in Communitys 58-54 loss to Detroit Cornerstone. Lorenzo Wright, Belleville: Compiled 18 points in Bellevilles 76-44 win vs. Livonia Franklin. Honorable Mentions Gavin Ambrose, Holly: Scored 17 points in Hollys 45-40 loss to Lake Fenton. D'Quarion Cole, Pontiac: Logged 16 points and eight rebounds in Pontiacs 67-24 win over Farmington Hills Harrison Monday night. He also recorded 19 points and seven rebounds in Pontiacs win over Hazel Park Friday night. Davis DiGiovanni, Troy Athens: Compiled a double-double 15 points and 10 rebounds in Athens 59-47 defeat at the hands of Rochester Hills Stoney Creek Monday night. Tarah Hazard, Pontiac: Recorded a double-double 16 points and 10 rebounds in Pontiacs victory over Farmington Hills Harrison Monday night. Joshua Hines, Macomb Dakota: Logged 17 points and three assists in Dakotas 69-55 win over Harrison Twp. LAnse Creuse. Addison McIntosh, Fenton: Drained five triples on his way to 17 points in Fentons 41-35 loss to Flushing. Kendall Simpson, Clawson: Finished with a double-double 13 points and 14 rebounds in Clawsons 56-51 loss to Sterling Heights Thursday night. Zach Topolewski, Livonia Clarenceville: Finished with 17 points in Clarencevilles 64-60 loss to Dearborn Heights Annapolis. Jalen Young, Detroit Cornerstone Health & Technology: Finished with a double-double 16 points and 10 rebounds in Cornerstones 58-54 triumph over Detroit Community. Girls Daisy Ansel, Comstock: Finished with 45 points, nine rebounds and eight steals in Comstocks 71-31 victory vs. Paw Paw Tuesday night. She also accounted for 37 points, 11 rebounds, eight assists and seven steals in Comstocks 69-48 win over Berrien Springs Friday night. Kenzie Bowers, Kent City: Scored 23 points in Kent Citys 80-22 win over Hesperia. Dara Capaldi, New Haven: Logged 17 points in New Havens 51-37 win over St. Clair Shores South Lake Thursday night. Asia Cochran, Dearborn Heights Annapolis: Scored 27 points in Annapolis 50-23 victory over Garden City Monday night. Carlee Crabtree, Coldwater: Compiled 18 points and five rebounds in Coldwaters 52-44 win against Jackson Northwest. Brooke Daniels, Macomb LAnse Creuse North: Led all scorers with 23 points in Norths 56-44 victory over Clinton Twp. Chippewa Valley Monday night. Alexa Downey, Grosse Pointe South: Finished with 21 points in Souths 63-50 win against Romeo Thursday night. DeBraya Edwards, Roseville: Logged a triple-double 20 points, 12 rebounds and 10 steals to go along with six assists in Rosevilles 43-21 win over Clinton Twp. Clintondale Thursday night. Hannah Erla, Lapeer: Finished with 23 points in Lapeers 61-15 win over Flint. Rebecca Fugate, Holly: Logged 21 points in Hollys 40-38 loss to Grand Blanc Wednesday night. Ciara Hardy, Romulus: Finished with 23 points and six rebounds in Romulus 72-40 win against Redford Union. Therese Hebda, Trenton: Finished with 17 points in Trentons 65-42 victory over Brownstown Woodhaven Friday night. Deja Henson, Detroit University Prep: Logged a double-double 19 points and 21 rebounds to go along with six steals in University Preps 56-36 victory over Harper Woods. Mya Hiram, Onsted: Finished with 22 points and eight rebounds in Onsteds 71-30 win over Hillsdale. Kelly Hunter, Southfield Christian: Recorded 19 points in Christians 33-9 victory over Birmingham Roeper. Chloe Idoni, Fenton: Scored a season-high 29 points in Fentons 55-30 win over Flushing. Lindsey Jurecki, Grosse Ile: Posted 18 points in Grosse Iles 55-45 loss to Carleton Airport (15-1). Audrey Medaugh, Romeo: Recorded 19 points in Romeos loss at the hands of Grosse Pointe South Thursday night. Madi Moyer, Hartland: Finished with 17 points in Hartlands 60-20 win against Plymouth. Alayna Mulford, Trenton: Recorded 16 points and 17 rebounds her fifth consecutive double-double in Trentons 55-17 win over Southgate Anderson Tuesday night. Austin Palmer, Millington: Scored 11 points, and grabbed 17 rebounds in Millingtons 64-36 loss to Essexville Garber. Kayla Ross, Onsted: Scored 18 points in a 52-47 loss to Ida Wednesday night. Also, chipped in 14 points and seven rebounds in Onsteds win over Hillsdale Friday night. Carly Scheblo, Charlotte: Recorded 21 points, giving her 1,000 career points, in Charlottes 64-21 victory over Lansing Sexton. Abbie Slate, Allen Park: Recorded 25 points, including her 1,000th career point, in Allen Parks 56-26 victory over Dearborn Edsel Ford. Shawn'ta Standifer, Romulus: Recorded 22 points and five steals in Romulus victory against Redford Union. Sarah Stuart, Pontiac Notre Dame Prep: Led the Irish with 15 points and eight rebounds in Notre Dame Preps 47-42 victory over Warren Regina Tuesday night. Emily Swiercz, Carleton Airport: Produced 18 points in Airports victory vs. Grosse Ile. Zara Weber, Kent City: Contributed 22 points in Kent Citys victory vs. Hesperia. Taylor Williams, Macomb Dakota: Finished with a double-double 11 points and 15 rebounds to go along with five blocks and five assists in Dakotas 41-29 win over Sterling Heights Stevenson Thursday night. Malorie Wilson, Pontiac Notre Dame Prep: Recorded a double-double 10 points and 14 rebounds in Preps victory over Warren Regina. WE WANT YOUR NOMINATIONS! Nominate a high school coach for the 2019 Honda Inspiration Award More: Vote now for the Detroit Free Press 2019 I AM SPORT award winner! | https://www.freep.com/story/sports/high-school/2019/02/15/michigan-high-school-basketball-performances-week/2888429002/ |
What will happen to the opportunity Rover's dead body on Mars? | NASA's Opportunity Rover has died on Mars. The little solar-paneled robot apparently ran out of battery power during the Red Planet's awesome 2018 dust storm, and after one last attempt to contact it, NASA concluded yesterday (Feb. 13) that the far-off explorer is no more. Many human artifacts wouldn't last very long beyond our protective biosphere. As Live Science reported previously, solar radiation has likely shredded the Tesla Roadster Elon Musk launched into space last year. But Tesla Roadsters have lots of organic fibers and plastics in their bodies. Mars rovers are made of tougher stuff. [Voyager to Mars Rover: NASA's 10 Greatest Innovations] Jeff Moersch, a professor of planetary science at the University of Tennessee, Knoxville, and a member of the Opportunity team, cautioned that he's not an expert in the rover's engineering. But he said that Opportunity does have some plastic bits that might eventually break down under the glare of the sun its insulation, for example. "But, by and large, I think it'll look pretty much as we left it," when and if astronauts ever do come across its resting place, Moersch told Live Science. It'll probably be pretty dusty, though, he added. That's assuming that astronauts do make it to Mars in the relatively near future the next century or two, for example. Over much longer periods, Moersch said, dust will settle on the rover. Opportunity functioned as long as it did because regular Martian winds tended to routinely blow dust off its body. But over longer periods, it's a bit of an open question whether the dust or the wind will win out. "I doubt it will end up buried in a mound, though," he added. On Earth, anything old and dead and sitting in one place on the surface tends to eventually end up underground. But that's thanks to the effects of water and plate tectonics, Moersch said factors that aren't present in the same way on Mars. "Over the very long-term, you're going to get impacts that knock up ejecta [airborne Mars dirt] from where they hit, and that ejecta will very gradually resurface [on] the planet and bury things that were on the surface," he said. If Opportunity were to be left on Mars, aliens who landed there millions and millions of years from now would find the rover somewhere in the rock record much like how paleontologists find dinosaur fossils here on Earth. But NASA is hoping to send humans to Mars one day. And there are dreams of establishing some sort of human settlement there. Steve Squyres, a professor of astronomy at Cornell University in Ithaca, New York, and head of the Opportunity science mission, made clear during NASA's press conference announcing the rover's death that the agency has no plans to bring the rover back to Earth. he asked.) That said, Moersch added, when humans do settle Mars, it's not unreasonable to imagine they might make some effort to recover and preserve Opportunity. Perhaps it could end up in museum, or the region explored by the rover might end up as a national park. Of course, if humans never get there, Opportunity might not make it into the fossil record at all. It's at least plausible that, given millions of years, a meteor could strike it directly and smash it to bits. Originally published on Live Science. | https://www.foxnews.com/science/what-will-happen-to-the-opportunity-rovers-dead-body-on-mars |
Will Gucci's Comprehensive Diversity And Inclusion Plan Repair The Company's Image? | Luxury fashion brand Gucci was under fire last week due to their new Balaclava sweater, which was widely criticized for being an example of Blackface. Following the incident, the company issued an apology and emphasized its commitment to diversity. The apology was not enough for some. Rapper T.I. as well as Spike Lee called for a boycott of Gucci products. In an effort to rectify the situation, on Thursday Guccis executives created a set of action items to remedy their reputation. Hours ago, Gucci issued a series of tweets that outlined their detailed initiatives moving forward. The first step in creating a more diverse and inclusive company is to be more inclusive in their hiring. Gucci committed to hiring global and regional directors of diversity and inclusion. The goal with this initiative is to find a Global Director of Diversity and Inclusion and execute strategies to foster a more inclusive company. From a financial standpoint, having a company that is more racially and ethnically diverse can equate to greater financial gain for the company, according to McKinsey. Aside from the documented financial gains that having a more diverse company can produce if an organization has more diversity of thought, incidents like what occurred at Gucci are less likely. Guccis second step in their action plan is a multi-cultural design scholarship program aimed at creating more employment opportunities for underrepresented groups. The third step in their action plan is to improve their cultural awareness and sensitivity. The diversity and inclusivity awareness program that they plan to implement will begin in May and will be a one-day training that will continue annually. The training will be completed by all 18,000 global employees. The verdict is still out regarding whether mandatory training is effective. Starbucks received backlash after implementing mandatory training for all employees following a 2018 incident where two Black men were racially profiled. The fourth step is a Global Exchange Program to promote a multicultural and diverse workplace by providing internal mobility for talents to come from regions to work at the headquarter offices in Italy. By laying out these initiatives on their social media page, Gucci is allowing the public to hold them accountable and assess whether they are making progress towards their diversity and inclusion goals. While research does indicate that when a company makes a public guffaw, an apology and taking ownership of the mistake increases favorability, empty promises of change may have irreversible effects on the companys reputation. Ultimately, companies can come back from mistakes and blunders but it takes more than an apology. Implementation is what will help to repair public perception. It is imperative that Gucci continue the conversation of how to build bridges to continue this critical dialogue. Including famed Harlem designer Dapper Dan in conversations about how to build a more inclusive company is a step in the right direction, but more needs to be done. Dapper Dan announced that a town-hall meeting was in the works and that there would be an opportunity to express opinions and concerns. The first step towards concrete and long-lasting changes is increased dialogue. This situation should be a learning lesson not only for Gucci but for other organizations. Beyond talking about the problem though, there must be steps taken to actually implement these action items if lasting changes are ever to be made. | https://www.forbes.com/sites/janicegassam/2019/02/16/will-guccis-comprehensive-diversity-and-inclusion-plan-repair-the-companys-image/ |
Is private health insurance worth it for those in their 30s? | Ive only ever used it once, and Im thinking of ditching it until Im in my 50s Every week a Guardian Money reader submits a question, and its up to you to help him or her out a selection of the best answers will appear in next Saturdays paper. Im 37 and have been in my company private medical insurance scheme for five years. I didnt realise just how much it was costing me (in benefit in kind deductions, plus the extra I pay for my wife to be a member) considering I have only ever used it once, for some physio. Email your suggestions to [email protected] or write to us at Money, the Guardian, Kings Place, 90 York Way, London N1 9GU | https://www.theguardian.com/money/2019/feb/16/is-private-health-insurance-worth-it-for-those-in-their-30s |
Are banks guilty of faking signatures on British court papers? | Its a serious charge, but a new campaign group claims there has been alleged industrial-scale forgery of signatures. And the Bank Signature Forgery Campaign has some powerful supporters in high places. The all-party parliamentary group (APPG) on fair business banking a cross-party group of MPs and peers publicly voiced its support this month, as did the high-profile police and crime commissioner for Thames Valley, Anthony Stansfeld. Meanwhile, a signature expert told Guardian Money: The whole thing is highly suspicious. If the campaigns claims are true, it would mean a multibillion-dollar scandal that played out in the US was being repeated in the UK (see box). Julian Watts, the man behind the campaign, says big banks and lenders are linked to documents carrying questionable signatures, and that, in some cases, people were evicted as a direct result. He has amassed a dossier of signatures purporting to be by one person that sometimes appear to be very different. He is asking people to send in photos or photocopies of signatures on bank or company court documents so they can be examined. The central allegation of the campaign, running on Facebook and Twitter, is that signatures on some UK court documents appear to have been forged that is, not signed by the person whose printed name appears under the statement of truth (the bit that typically says something like I believe the facts stated in this document are true). It is claimed that in some cases, employees at the law firms acting on behalf of the banks or the banks representatives, may have faked them in order to speed up the legal process. For example, it might be that the case handler whose name is on the documents was off sick or on holiday when they needed to be signed, so other members of staff simply signed that persons name in order to keep the process moving. Handwriting expert Adam Brand has viewed some of the documents and says they definitely appear worthy of further investigation, adding: There certainly appears to be a case here, although further extensive work is going to be needed. Money asked Brand a forensic handwriting analyst to comment on one set we were shown. They relate to a home repossession, and all the signatures in this case, a squiggle were supposedly made by the same person. Yet there are arguably variations. Brand told us that someone who had adopted a reduced signature, or squiggle, would tend to stick to that same signature. Here we have a totally inconsistent situation. Purely from a common-sense point of view it is unreasonable. However, both the individual named on the documents, and the law firm that employed them, have firmly rejected any suggestions that multiple people had signed in the employees name. Giving its support to the campaign, the APPG on fair business banking, co-chaired by Tory MP Kevin Hollinrake, says it receives frequent and consistent representations from constituents with concerns over the forgery of signatures. It adds: This campaign will provide a vital method of gathering evidence of possible signature forgeries by UK banks in court documents. Some may take the view that even if this did happen, it is hardly the crime of the century, while others may feel that the campaigns real agenda is trying to help people wriggle out of their debts on a technicality. But Watts rejects this and says it is more than just a technicality: While its fine for people to pp letters, people cannot pp the signature on court documents such as witness statements ... signed statements of truth are a foundational aspect of the justice system. He says that if it was conclusively proved that signature forgery had taken place, people may have been fraudulently evicted from their homes, or had court judgments fraudulently secured against them for other consumer debt. It is fair to say that faking a signature on a statement of truth is a very serious business: in late 2017 a UK solicitor was struck off for among other things directing other members of staff to fake signatures on witness statements. The official ruling in that case stated that the seriousness of the misconduct is at the highest level ... the dishonesty was of such gravity that public confidence in the profession would no doubt be undermined were the public to learn of what occurred. However, it should also be pointed out that Watts is no impartial observer: he has an axe to grind in that he and his wife have been the subject of several bank court cases. He wants MPs to review the evidence and, if necessary, pass it on to the National Crime Agency or the Serious Fraud Office. Reckless and abusive forgery, US style In the US, fake signatures on documents in the wake of the housing market bubble bursting in 2006-07, were among the reckless and abusive mortgage practices that resulted in a $25bn (19bn) settlement between mortgage lenders and the US government and most US states in 2012. One of these practices was known as robo-signing, where some staff signed someone elses name, or signed documents they hadnt even read, to speed up the foreclosure process. In one article about fake signatures on American mortgage documents, Associated Press reported that one name, Linda Green, was signed almost two dozen different ways. | https://www.theguardian.com/money/2019/feb/16/banks-faking-signature-campaign-evidence |
Have world leaders really got the will to bring peace to Yemen? | During his historic recent visit to the United Arab Emirates, Pope Francis condemned the war in my home country, Yemen, as a terrible humanitarian crisis. Addressing the world he said: Let us pray strongly, because there are children who are hungry, who are thirsty they dont have medicine and they are in danger of death. It is true that all these things are happening, and much worse. Violations are being carried out by all parties involved in the conflict. But whenever I hear that Yemen is the worst humanitarian disaster or listen to my own words, as I address committee after committee I feel like Im listening to a broken record. The need to remind everyone that what we are witnessing is manmade, and not a natural disaster, is constant. In late January, I was invited to deliver a testimony at the European parliament sub-committee on human rights, a place I had visited in 2016 to give a speech about the impact of drones. It is significant how much knowledge and interest about Yemen has increased since then. My speech came at the same time that the UK announced more humanitarian aid to Yemen, while the EU boasted that iit is the biggest donor to the budget. Yet all the while they continue to supply arms and support to the Saudi-led coalition, providing the means to continue the war should the fragile ceasefire fail. It is hypocrisy on a grand scale. Since 2014, my organisation, Mwatana for Human Rights, has documented hundreds of incidents where lives have been lost or violated and civilian infrastructure has been damaged or destroyed not only by the coalition, but also by Houthi armed groups, local armed groups loyal to the Hadi government and others. They are all bound by a common factor: their behaviour. What is really sad about the violations in Yemen is that they are preventable. They occur because the parties dont care. The total lack of accountability, not only to their own but also to the outside world, empowers them to feel as though they can do whatever they want. The last UN Resolution on Yemen was adopted by the security council in December ; it too suggested that the way to maintain peace is though accountability on all sides. The pope referred to hunger, but Yemenis are not suddenly starving. I believe starvation is being used as a weapon of war, by all sides. Since 2017, Mwatana has been conducting advocacy visits around the world. It is clear to us that the disaster caused by the war in Yemen is being ignored as many countries actively continue to supply the weapons that fuel conflict. Peace in Yemen is possible, it always has been. Peace is needed now even more than ever, but what we, the people of Yemen, need above all is the political will to achieve it. We are now witnessing what can happen when the international community takes action, placing serious and balanced pressure on all parties to bring them to the negotiating table in Sweden, in what seems to be the most promising chance for peace. Some urgent actions were discussed in Sweden, from freeing detainees and providing salaries for Yemenis to reopening Sanaa airport and ending the fighting in Hodeida. These confidence-building measures would make the situation significantly less miserable for Yemenis and could, more importantly, lead to a lasting and stable peace agreement. It just needs more pressure. Ive seen how arms sales fuel deadly suffering in Yemen. We must stop them | Radhya al-Mutawakel Read more The international community can play a major role in stopping the war in Yemen, but they need to do much more than just provide aid. Humanitarian support is important, but it is just filling the gaps; you cant feed a whole nation. States should not just act as humanitarian organisations, as they have the ability to do so much more. Yemen can be a success story. It offers a chance for the international community to demonstrate that, by working together, it can end a disaster anywhere in the world. If we lose this opportunity, the conflict will not only continue but is likely to get worse. I dont know if we will have another chance for peace. We all need a success story, none more than the people of Yemen. Radhya Al-Mutawakel is a Yemeni human rights defender and co-founder of the Mwatana Organisation for Human Rights | https://www.theguardian.com/global-development/2019/feb/16/have-world-leaders-really-got-the-will-to-bring-peace-to-yemen-radhya-al-mutawakel |
Are Marie Kondo fans sparking joy at local thrift stores? | CLEVELAND, Ohio While purging everything from furniture to clothing to knickknacks, declutterers likely have not been pondering whether its time to get rid of this stuff because it no longer sparks joy. Until now. Shedding unwanted items has taken on a whole new meaning thanks to organizing and decluttering guru Marie Kondo. In her new Netflix series, Tidying Up With Marie Kondo, and her book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing, Kondo espouses eliminating from ones life things that no longer spark joy. Whats more, if you feel guilty for letting something go, ease the guilt by saying thank you to the item for being there when you needed it, then drop it into a donation binge. Its a less-is-more approach on a spiritual level. How to donate: Scroll to the bottom of this story for links and contact information. From coast to coast, the KonMari effect, as it is called, is said to have ignited a surge in thrift store donations. A few thrift stores in San Francisco reportedly have had to put donation restrictions in place. In Greater Cleveland, some thrift stores have experienced a recent boost in donations that they attribute to Kondos influence. Others say its hard to tell. Compared to January of last year, weve seen an increase of 442,000 pounds coming into our stores, said Debbie Gillum, Marketing and Digital Communications Specialist with Volunteers of America Ohio & Indiana. In the Cleveland area, it has stores in Mansfield, Aurora, Brunswick and North Olmsted. She said there is a waiting list for at-home pickups of donations. "And, yes, we do attribute the increase to Marie Kondos show on Netflix, and the Tidying Up craze has struck a chord with people of all ages,'' Gillum said. "People are starting to ask themselves what in their homes sparks joy and they are donating things that no longer bring them joy. The best part is when they donate their stuff, it can bring joy to someone else. Donations support Volunteers of America programs such as The Veterans Domiciliary at Wade Park, which provides homeless veterans with employment services, homeless prevention, counseling, mental health treatment and housing. Bob and Jennifer Iwan look through tee shirts at Salvation Army store on Biddulph Road in Brooklyn. In the wake of the Marie Kondo's "Tidying Up" series on Netflix, people have been cleaning out their homes, discarding things that do not "spark joy." As a result, donations to some thrift shops and second hand stores are increasing. Donations to faith-based and other thrift stores often benefit the organizations; social service programs. For the Salvation Army, it's alcohol/drug rehabilitation, individual and family shelter, crisis assistance and more. Lynn Ischay, The Plain Dealer In 2014, when Kondos book was released, Volunteers Of America shared some of her decluttering tips on the website tinyurl.com/yaoolsmw. Among the tips: rather than tidying and tossing a little a day, get rid of things in one fell swoop so you dont get caught up in the clutter. Goodwill Industries of Greater Cleveland and East Central reports a 15-percent increase in January, according to its preliminary data. "This is usually the time of year when our donations are light, and it picks up in the spring. So to be up 15 percent is a pretty big deal. And we can only attribute that to the Marie Kondo series,'' said Marureen Ater, Vice President Of Marketing and Development. We have no way to specifically track if its due to Marie Kondo, but weve definitely heard from our donors and customers that they are excited about her techniques, and as a result of the Kondo effect they are definitely donating more to Goodwill.'' Goodwill Industries of Greater Cleveland works closely with other nonprofit agencies as well as community businesses to prepare people for stable career options and, in turn, a more productive and sustainable way of life. For programs, the nonprofit relies on revenue from its retail stores. Roxana Avila processes donated books that will be for sale at Salvation Army store on Biddulph Road in Brooklyn. In the wake of the Marie Kondo's "Tidying Up" series on Netflix, people have been cleaning out their homes, discarding things - including books - that do not "spark joy." As a result, donations to some thrift shops and second hand stores are booming. Lynn Ischay, The Plain Dealer Major Van L. Wirth of the Salvation Army said he reached out to Great Cleveland Salvation Army store managers about donations. While some store managers have heard of Marie Kondo, no one felt or had been informed that more donations were coming into their stores specifically because of the book, Wirth said. Not to say that she has not had an impact. It is just that we are not aware that this has been a driving force. Donations support the faith-based social service programs that include alcohol/drug rehabilitation, individual and family shelter, crisis assistance and more. The National Council of Jewish Womens Thriftique Showroom in Warrensville Heights thus far hasnt experienced a KonMari-inspired donations deluge. We have seen a steady flow of donations, as we usually see in January, but nothing over and beyond that, said Vice President of Communications, Leslie Resnik. NCJW/Cleveland programs include assisting women, inspiring children and engaging at-risk teens, literacy and more. Joe Valente, owner of Flower Child on Clifton Boulevard and in Columbus, said donations are up, but for a couple of reasons. Yes, there definitely are more donations than before, he said. But it isnt just Marie Kondos influences. More babyboomers are selling or donating their parents things. Im getting phone calls from people say, I dont want this. Come get it. Jennifer Iwan of Cleveland checks out a small wooden chest in the housewares section of Salvation Army store on Biddulph Road in Brooklyn. Iwan says the she and her husband, Bob, are minimalists. Shedding unwanted items has taken on a whole new meaning thanks to organizing/decluttering guru Marie Kondo. In her book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing, and her new Netflix series, Kondo espouses eliminating from ones life things that no longer spark joy. ing out their homes, discarding things that do not "spark joy." Its less is more on a spiritual level. Lynn Ischay, The Plain Dealer The Gathering Place in Beachwood and Westlake offer free programs and services that address the emotional, spiritual and social needs of people dealing with cancer in their lives. The organization lends support for individuals and families at the time of diagnosis, during treatment and after treatment has ended. The nonprofit organization has a warehouse thrift store in Warrensville Heights that helps finance these services. The warehouse is open to the public about once a month for a sale. Gently used furniture and home accessories are accepted. Cheryl Apisdorf, liason between The Gathering Place and the organizations warehouse, said they are seeing an uptick in donations. We do have lot of pickups, but its hard to know what to attribute it to, she added. At this time of year people are stuck in the house and looking at things they dont want anymore, or that they want to replace due to decorating. I think that has something to do with it. We are grateful for people who consider The Gathering Place Warehouse as a place for their household donations. Libraries in other cities are thanking Marie Kondo for inflated donations of books and other materials. Whether local donaters had Kondo in mind or not, Cleveland Public Library took in 10 percent more books during the past three months compared to the previous year, according to Chief Marketing & Communications Officer, Tana Peckham. How to donate How to donate to some of the area organizations mentioned above: | https://www.cleveland.com/metro/2019/02/are-marie-kondo-fans-sparking-joy-at-local-thrift-stores.html |
Can Congress or the courts reverse Trump's national emergency? | (The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Chris Edelson, American University School of Public Affairs (THE CONVERSATION) President Donald Trump declared a national emergency to pay for the construction of a wall along the U.S.-Mexico border, after Congress, in its new spending bill, denied him the full money to build it. Were talking about an invasion of our country with drugs, with human traffickers, with all types of criminals and gangs, Trump said in a speech on Feb. 15 before signing the declaration. Democratic Speaker of the House Nancy Pelosi warned Trump against declaring a national emergency, saying that it set a precedent for future Democratic presidents to use that power. A number of liberal organizations have threatened to file challenges in court on the grounds that Trumps move is an abuse of power. As I explain in my book Emergency Presidential Power, presidents generally claim emergency power two ways: through inherent or implied authority under the U.S. Constitution or under statutory authority granted by Congress. Relying on the Constitution as a basis for emergency power is controversial, and less likely to stand up to meaningful congressional or judicial review. The U.S. Constitution says nothing specific about presidential emergency power: Presidents can only claim such authority is implied or inherent. The emergency powers the Constitution does describe are actually assigned to Congress. Congress has delegated some emergency powers to the president through statutes, including the National Emergencies Act. But Congress retains the power to reject a presidents declaration of a national emergency. Gaining congressional approval Since presidents lack any specific constitutional emergency power, they often find it necessary to gain congressional authorization. For instance, at the start of the Civil War, with Congress out of session, President Abraham Lincoln suspended habeas corpus and took other unilateral actions. He later sought and gained retroactive approval from Congress for these actions. This precedent of gaining congressional approval was put to the test nearly 100 years later. In 1952, President Harry Truman claimed emergency power to take control of steel factories during the Korean War in response to a labor strike. He invoked a very great inherent power to meet great national emergencies. Congress took no specific action to approve or disapprove, though a preexisting statute on the books weighed against Truman. When factory owners sued the administration, the Supreme Court, by a 6-3 vote, ruled against Truman in the famous Youngstown Sheet decision. Justice Robert H. Jacksons concurring opinion in that case has been especially influential and is often cited by legal scholars and judges. He outlined a three-part test to be used as a starting point in determining when presidential action is constitutionally permissible. Under Jacksons test, presidents are on the strongest possible footing when acting with congressional approval. In this case, Jackson said, Trumans position was weak since he was taking action that did not comply with the relevant legislative framework. In Jacksons view, Trumans reliance on inherent emergency power under the Constitution would dangerously concentrate power in the presidents hands, something the framers would not have wanted. Congresss role Jacksons opinion in Youngstown suggested that emergency power could be defined by Congress in statutes. Congress took up that suggestion with the National Emergencies Act of 1976. Though the act was designed to set limits on presidential power to declare national emergencies of indefinite length, it has ended up providing a largely unregulated way for presidents to take unilateral action. Congress has failed to fulfill its responsibilities under the law. The National Emergencies Act permits the president to declare a national emergency without congressional approval, triggering specific statutory powers that the president can use. For instance, presidents have used this law to impose economic sanctions against terrorists after 9/11 or regulate foreign ships in U.S. waters. Thirty-one emergency declarations are currently in effect under the statute. Congress can vote at any time to terminate a state of emergency, and is required by the statute to meet every six months while an emergency is in effect to consider whether it should continue. However, it has never voted on an emergency declared by a president or held meetings as required by the statute. Perhaps most importantly for Trump, the National Emergencies Act provides no criteria for deciding whether a national emergency exists. We know from history that presidents can contrive emergencies as a pretext for action. For example, in 1846 President James Polk falsely claimed that Mexico had spilled American blood on U.S. soil as a pretext for gaining a declaration of war from Congress. In 1942, President Franklin D. Roosevelt justified the decision to intern 110,000 Japanese-Americans without trial based on false claims that time was of the essence, and at least some Japanese-Americans were known to be disloyal. Although both of these examples pre-date the 1976 Act, they serve as cautionary tales about the wisdom of accepting at face value a presidents claim that an emergency exists. However, because the law now in effect provides no specific standards to define the existence of an emergency, courts might be inclined to defer to presidential discretion. It is far from clear that courts will strike down Trumps national emergency. By contrast, it would be straightforward for Congress to reverse a declaration of national emergency. The National Emergencies Act gives legislators authority to reject a presidential declaration of national emergency through simple legislation that would require majorities in the House and Senate. President Trump would presumably veto such action. Legislators would have the opportunity to override a presidential veto with a two-thirds majority vote. That of course would be no easy task in the current Congress. Because of the way the National Emergencies Act was drafted, Congress is better positioned to take action than the courts assuming enough members are moved to act. If Congress does nothing, then the law could become a vehicle for presidential abuse, especially because the acts language seems to grant the president broad discretion that could insulate an emergency declaration from legal challenge. All eyes should be on Congress. Editors note: This is an updated version of a story originally published Jan. 12, 2019. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/can-congress-or-the-courts-reverse-trumps-national-emergency-111939. | https://www.houstonchronicle.com/news/article/Can-Congress-or-the-courts-reverse-Trump-s-13619708.php |
Could an MLB players strike come in the middle of the 2019 season? | originally appeared on nbcsportsboston.com When Red Sox spring training opened earlier this week, staff ace Chris Sale was candid about his own future in Boston, but also baffled that former closer Craig Kimbrel was still on the free agency market. Scroll to continue with content Ad "It's crazy to me," Sale told reporters on Wednesday. "I don't want to get too far into it with the politics of baseball and all that stuff, but [Kimbrel's] as good as it gets. And it's crazy to think that there really hasn't been a whole lot of traction with him." And Kimbrel is far from the only. It's mind-boggling to think that two of baseball's biggest superstars, Bryce Harper and Manny Machado, are still on the market as camps break -- and they're just two of more than 100 still out there unsigned. That could have long-term consquences, as St. Louis Cardinals pitcher Adam Wainwright told Inside STL's Tim McKernan: #STLCards pitcher Adam Wainwright on @TMASTL: "Unless something changes, there's going to be a strike. 100%. I'm just worried people are going to walk-out mid-season." pic.twitter.com/M8WeRVcASe Tim McKernan (@tmckernan) February 15, 2019 A mid-season walk-out could be a coup de grace for a sport already struggling with issues of ratings declines, falling attendance and players' marketability. Story continues Click here to download the new MyTeams App by NBC Sports! Receive comprehensive coverage of your teams and stream the Celtics easily on your device. | https://sports.yahoo.com/could-mlb-players-strike-come-022511643.html?src=rss |
How far should organizations be able to go to defend against cyberattacks? | (The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Scott Shackelford, Indiana University (THE CONVERSATION) The deluge of cyberattacks sweeping across the world has governments and companies thinking about new ways to protect their digital systems, and the corporate and state secrets stored within. For a long time, cybersecurity experts have erected firewalls to keep out unwanted traffic and set up decoy targets on their networks to distract hackers who do get in. They have also scoured the internet for hints about what cybercriminals might be up to next to better protect themselves and their clients. Now, though, many leaders and officials are starting to think about stepping up their defensive activities, by taking more active measures. An extreme option within this field of active defense is sometimes called hacking back into an adversarys systems to get clues about what theyre doing, shut down the attack or even delete data or otherwise damage an attackers computers. I have been researching the benefits and drawbacks of various active defense options with Danuvasin Charoen of the Thai National Institute of Development Administration and Kalea Miao, an undergraduate Cox scholar at the Indiana University Kelley School of Business. We have found a surprising number and variety of firms and countries exploring various ways to be more proactive in their cybersecurity practices, often with little fanfare. Getting active On the surface, it might seem like the proverb is right: The best defense is a good offense. The damage from cyberattacks can be enormous: In May 2017, a single incident, the WannaCry cyber attack, affected hundreds of thousands of systems around the world and caused more than US$4 billion in lost productivity and data recovery costs. One month later, another attack, called NotPetya, cost global shipping giant Maersk $300 million and reduced the company to relying on the Facebook-owned WhatsApp messaging system for official corporate communications. Faced with this scale of loss, some companies want to step up their defenses. Firms with sophisticated technology systems know whats needed to protect their customers, networks and valuable trade secrets. They also likely have employees with the skills to track down hackers and penetrate the attackers own systems. But the ethics and implications of justifying a cyberattack as defensive get very complicated very quickly. Its often unclear, for example, exactly who is behind an attack uncertainty that can last for days, months or even years. Companies shouldnt be empowered to start global cyber conflicts that could have dire consequences, but online and offline. Of course, its also important to think about what might happen if other countries allow their companies to hack back against U.S. government or corporate efforts. More U.S. firms could fall victim to cyberattacks as a result, and might find little legal recourse. Engaging with the law At the moment, hacking back is illegal, in the U.S. and in many nations around the world. In the U.S., the Computer Fraud and Abuse Act makes it a crime to access another computer without authorization. Every member of the G-7, including the U.S., as well as Thailand and Australia, has banned hacking back. In 2018, more than 50 countries but not the U.S. signed an agreement that private firms based in their nations are not allowed to hack back. However, supporters of active defensive tactics are pushing their message hard. The Republican Partys 2016 presidential platform promised to ensure users have a self-defense right to deal with hackers as they see fit. In March 2018, the Georgia state legislature passed a bill to permit active defense measures that are designed to prevent or detect unauthorized computer access. Two months later, then-Gov. Nathan Deal vetoed it, at the urging of technology firms concerned about its national security implications and other potential ramifications. Had it become law, Georgias bill would still likely have run afoul of federal law. However, lawmakers in Washington have also proposed letting companies engage in certain types of active defense. In 2017, U.S. Rep. Tom Graves, a Georgia Republican, proposed the Active Cyber Defense Certainty Act, which would let companies engage in certain active defense measures, including conducting surveillance on prospective attackers, provided that the firm informed the FBI first and that the action did not threaten public health or safety. The bill died and has not yet been reintroduced; its not likely to get far in the new Democratic House. Active defense remains illegal in the U.S. and much of the world. But the bans are not being enforced at home or abroad. Going global Not every country has banned hacking back. Singapore, for example, has been permitting local firms to engage in active defense measures in an effort to prevent, detect, or counter specific threats to its critical infrastructure, including the financial industry. Other nations, such as France, do not wish to see the private sector out front, but are still keen to keep active defense as an option for governments. The more countries allow active defense, the more likely everyone in the U.S. and around the world is to become a cyberattack victim. Instead of deterring attacks, aggressive active defense increases the possibility of the lights going out, or American voting machines returning inaccurate results. Organizations can and should be encouraged to take passive defense measures, like gathering intelligence on potential attackers and reporting intrusions. But in my view they should be discouraged if not prevented from acting aggressively, because of the risk of destabilizing corporate and international relations. If the quest for cyber peace degenerates into a tit-for-tat battle of digital vigilantism, global insecurity will be greater, not less. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/how-far-should-organizations-be-able-to-go-to-defend-against-cyberattacks-110143. | https://www.houstonchronicle.com/news/article/How-far-should-organizations-be-able-to-go-to-13619124.php |
Can passengers in a traffic stop refuse to give an officer their ID? | Arizona Department of Public Safety Trooper Robert Olshaskie makes a traffic stop on Interstate 17 on Friday, July 1, 2016, in Phoenix. (Photo11: Ben Moffat/The Republic) If you are a passenger in a car pulled over in Arizona, refusing to give an officer your ID does not automatically give the officer permission to drag out the traffic stop. The U.S. Court of Appeals for the Ninth Circuit, which oversees Arizona and several other western states, recently ruled that law enforcement cannot extend a traffic stop because a passenger refuses to give their identification, unless the officer has a reasonable suspicion the person has committed a crime. The traffic stop in Arizona Alfredo Landeros was sitting in the passenger seat of a car near the Pascua Yaqui Indian reservation near Tucson in 2016. According to court documents, a Pascua Yaqui police officer pulled over the car because it was going 11 miles over the speed limit. During his testimony, Officer Clinton Baker said he smelled alcohol, and thought the two women in the backseat were underage. The Pascua Yaqui Indian reservation has a curfew for minors. In addition to the driver, the officer asked for the identification of the women. He discovered the women were 21 and 19. According to his testimony, Baker said he did not believe Landeros was a minor. "Nonetheless, Officer Baker, in his own words, commanded Landeros to provide identification, the judge stated in court documents. Landeros refused to provide his ID. When officers continued to ask, he continued to refuse. The officers commanded him to exit the vehicle. Baker testified that after Landeros got out of the car, he noticed pocketknives, a machete and two open beer bottles near the passenger seat. Landeros was arrested on suspicion of possessing an open container of alcohol, failing to provide his full name and refusing to follow orders, according to court documents. He was never charged for having an open container. While Landeros was being searched, the officer found a smoking pipe and six bullets inside Landeross pockets. Nearly three months after his arrest, Landeros was indicted for possession of ammunition by a convicted felon. He entered a plea agreement and was sentenced to 405 days in prison and three years of supervised release. CLOSE Reporter Alia Beard Rau talks with Rep. Reginald Bolding, D-Laveen, about his plan to educate drivers about traffic stops. United States v. Landeros The Ninth Circuit addressed whether the police can extend a traffic stop and if law enforcement can require a non-driver to identify themselves. In it's opinion, the court stated that wanting a passenger's identification is not a part of the mission for a traffic stop. Things that are part of that mission include checking the driver's license, checking for proof of insurance and making sure the vehicle operates safely. Regardless of whether the first request for Landeross identification was lawful, law enforcements refusal to take no for an answer was not, Judge Marsha S. Berzon stated in court documents. Also, the court said Baker did not have a reasonable suspicion concerning Landeros, so therefore violated the passenger's Fourth Amendment right. The amendment protects a person from unreasonable seizures. The government argued the officer did have reasonable suspicion because of the smell of alcohol and the possible breaking of curfew, according to court documents. NEWSLETTERS Get the AZ Memo newsletter delivered to your inbox We're sorry, but something went wrong Get the pulse of Arizona -- Local news, in-depth state coverage and what it all means for you Please try again soon, or contact Customer Service at 1-800-332-6733. Delivery: Mon-Fri Invalid email address Thank you! You're almost signed up for AZ Memo Keep an eye out for an email to confirm your newsletter registration. More newsletters However, the court said it was not reasonable because Baker did not believe Landeros was underage and because the officer said he asked for his ID because he thought it was procedure. Also, Berzon stated in court documents that knowing Landeros's name would not have made the officers safer and making the stop longer could actually put their safety more at risk. Tempe criminal defense attorney Russ Richelsoph offered some tips for traffic stops in Arizona. During a stop, a passenger should be quiet and let the driver to talk with the officer. According to Richelsoph, some officers may ask for everyone's identifications to check for warrants. Drivers are required to provide an ID because they need to prove they can drive in the state. "Passengers are not required to produce this information," Richelsoph said. If the officer asks for identification and the passenger doesn't want to provide it, they can say, "I'm not legally required to identify myself to you," Richelsoph said. MORE: Lawmakers: Officers need more disability training However, Richelsoph advised that people not get into arguments with officers on the side of the road, especially about legal matters. People can assert their rights by not wanting to answer questions without a lawyer, but should do so in a polite way. Traffic stops are stressful for officers, who don't know what they may be walking into, he said. He advised those in the car try to keep the officer as comfortable as possible to help ensure the situation doesn't escalate. Reach the reporter at [email protected]. Follow her on Twitter: @Lauren_Castle. Click here to subscribe to azcentral.com. Read or Share this story: https://www.azcentral.com/story/news/local/arizona/2019/02/16/court-appeals-9th-circuit-weighs-arizona-passenger-rights-police-officer-traffic-stop-id/2842139002/ | https://www.azcentral.com/story/news/local/arizona/2019/02/16/court-appeals-9th-circuit-weighs-arizona-passenger-rights-police-officer-traffic-stop-id/2842139002/ |
Is Danaher Stock Still a Good Investment? | Danaher (NYSE: DHR) has a reputation as a go-to industrial stock in times of trouble. In other words, it's the sort of stock that you want to hold in a slowdown. Indeed, its combination of medical-focused businesses and industrial businesses with secular growth prospects (such as water quality and environmental solutions) means it has a defensive quality lacking in many other industrial stocks. Let's take a look. Defensive end markets Danaher stock isn't cheap, but no one said you can buy high-quality companies at bargain prices. The investment thesis behind the stock is based on the defensive nature of its end markets, which means the stock should command a premium to reflect its ability to generate growth in any business cycle. A man considering buying or selling a stock. More Image source: Getty Images. As you can see below, the company currently generates the overwhelming majority of its earnings from relatively defensive sources such as life sciences, diagnostics, dental, and environmental solutions. Danaher's operating profit in 2018 More Data source: Danaher Corporation presentations. The defensive nature of these businesses was further confirmed during the recent fourth-quarter earnings call. Whereas other companies are seeing slowing growth in China, Danaher's CEO Tom Joyce said: " We are not seeing anything specific that we could point to today that is impacting our businesses in China." In fact, Danaher's double-digit revenue growth in China was "the eighth consecutive quarter -- or, better said, the second straight year of double-digit growth for us in China," according to Joyce. He went on to outline that Danaher's exposure to industrial end markets is "probably less than 10% of Danaher wide today." And finally, Danaher's segment performance in the last recession shows how well its life sciences and diagnostics segments held up under very difficult circumstances. The near- and mid-term outlook A quick look at Danaher's core revenue growth trends by segment shows ongoing growth at the three most important segments -- the underperforming dental segment is set to be spun off in 2019 -- and the return to organic growth in the fourth quarter is very welcome. | https://news.yahoo.com/danaher-stock-still-good-investment-131700939.html |
Are A380s now heading for the scrapheap? | (CNN) A whopping great beast of an aircraft, the double-decker Airbus A380 -- the biggest passenger airplane the world has ever known -- is an incredible sight whether on land or in the air. Such gravity-defying proportions combined with the genuinely enjoyable experience of flying in one have won it legions of admirers since its first commercial voyage in 2007. So it was no surprise that there was widespread consternation at the February 14 announcement that Airbus intends to cease production of the A380 in 2019, effectively placing an expiry date on an aircraft that was once seen as the future of aviation. Commercially, the superjumbo's days are clearly numbered. Airbus's announcement follows the cancellation of several orders by key airlines despite a decade of efforts by the aircraft's manufacturer to persuade them the aircraft was part of a new revolution in air travel. That said, with Airbus continuing to offer mechanical support, the A380 potentially has many more years of flying ahead of it. Such modern machines typically have a lifespan of at least two decades, meaning we could still be boarding them in the 2040s, maybe even later. Heading for the bone yard l e v a r t But some experts believe it could be heading off to the bone yard far sooner. In death, as well as life the A380 seems doomed to an ignominious fate. You wouldn't think that from the initial reaction to news of its demise. "A very sad day for an amazing aircraft which pilots & passengers love," wrote British Airways pilot Dave Wallsworth, who regularly blogs about his experiences helming the airplane. Related content Airbus A380: Where to fly in a superjumbo before they go away "It is absolutely sad," says CNN anchor and aviation expert Richard Quest. "I covered this from the days when it was still a project known as the A3XX and even before that, right through to its maiden flight and entry into service. The reason for such affection is partly down to size. The flying leviathan's hulking presence would, in its early days, draw crowds of spectators to airfields. Pilots of other airplanes would deliberately slow down while taxiing to give their passengers a better drive-by gawp. 'An amazing plane' Airlines have pivoted to smaller planes instead of superjumbo jets. Alexander Hassenstein/Getty Images At 79.75 meters, the A380's wingspan is only beaten by the Antonov An-225 Mriya, the world's largest aircraft by weight, length and wingspan. It can hold up to 853 passengers in a single-class economy configuration, although most of its operators opt for a more spacious 450 to 500 passenger layout. "From a purely technological point, everyone agreed this was an amazing plane," says CNN's Quest. "When they designed it, they could require changes to jetways and to terminals, they could require changes to taxiways to allow two planes to pass each other, but they couldn't require larger runways. "Instead, they had to build a plane that could take off on length of about 10,000 feet or 3,000 meters. So they did it by use of the wings and the engines, an incredible achievement." And then there's the experience of actually flying in an A380. "It is an exceptionally quiet plane," says Quest. "I flew recently sitting on the upper deck, behind the wings and those huge engines, and you could hold a normal conversation. There was virtually no noise. The promise of greater luxury in the sky was one of the great selling points of the A380 for fliers more used to the cramped conditions of smaller aircraft or tight seating configurations even in bigger machines like the Boeing 747. Ironically, the 747 -- the original jumbo -- first flew 50 years ago this month, February 1969. For decades it helped make international air travel available to more people than perhaps any other airliner. Nonetheless it's still in production, as Boeing cranks out the 747-8 model in modest numbers while major airlines have been phasing 747s out of service. It's remarkable that the 747's production life will outlive the A380s -- perhaps adding more truth to the argument that making a superjumbo was an old-fashioned idea to begin with. Flying in the lap of luxury Etihad's "The Residence" offers a double-bed, en suite bathroom and living room. Courtesy Etihad Airways When the A380 launched in 2007, there was talk of marketing it to high rollers by installing onboard casinos and double bed suites, such was the amount of available space. While Virgin founder Richard Branson later backtracked on the casino idea, double beds have been installed on many planes. Some carriers used it to set the gold standard for their first class offerings, with Singapore Airlines, the A380's launch partner, pioneering its award-winning hotel-suite style accommodation on its superjumbos. Gulf carrier Etihad is among airlines offering an onboard shower to first class A380, passengers, as well as an exclusive premium concept known as "The Residence" an entire apartment located in the corner of the upper deck, replete with a living room, double bedroom, ensuite shower and its own dedicated butler. "To build such an extravagance into a commercial passenger jet just shows how much space airlines have to play with on these aircraft," says CNN Travel's global editor Barry Neild, who toured a "Residence" during a 2017 flight from London to Abu Dhabi. According to airline staff it's a combination of the super rich and aviation fanatics seeking the best experiences they can find in the sky, sometimes cashing in stockpiles of air miles to ride in style. Naked at 40,000 feet Inevitably for a UAE-based carrier, a lot of the custom comes from the country's wealthy royalty. "The butler on the aircraft I flew in told me that some sheiks prefer The Residence to their own private jets," Neild adds. "Sometimes they'll have their private jet follow on behind, so they can enjoy the comfort of long haul on the A380, and the convenience of their own plane for short hops at their destination." "I was given permission to take a shower in the residence during the journey," says Neild. "Apart from the dubious bragging rights to being naked on a plane at 40,000 feet, it was a whole new level of airplane comfort that instantly blitzes the weariness of red-eye flight. "It's somewhat depressing to go back to economy class on a normal airplane after trying something like that." A victim of fashion Emirates' A380s featured a lounge bar. STR/AFP/Getty Images Airports too, bought into the A380 vision as experts conjured up a future in which air travel congestion would be eased by large airplanes ferrying passengers between major hubs like London, Dubai or Atlanta, where they'd then connect to short-haul flights on smaller jets. Gates, sometimes entire terminals were reconfigured to accommodate the bigger planes. However, despite huge rises in the number of people traveling by air -- and the continued rise of airport superhubs -- things haven't quite turned out the way many imagined. As with Concorde before it, the A380's problem is one of economics. Had airlines been able to fill every flight to capacity, it would've been a success story -- carrying more people at lower per-passenger cost. "It's always easy to be wise in retrospect, but Airbus's gamble on the A380 went horribly wrong," says Murdo Morrison, head of strategic content at aviation intelligence specialist FlightGlobal. "The strategy of most airlines demanded smaller, more efficient widebodies that they could operate point-to-point on more frequent schedules," Instead, airlines shifted their interest to lighter, more fuel-efficient passenger jets, meaning that as of 2019, Airbus has sold less than a quarter of the 1,200 A380s it predicted it would sell. Airbus' A350 and Boeing's 787 Dreamliner have already proved this. And the upcoming Boeing 777-9 will seat more than 400 passengers -- thanks to the addition of huge, lightweight carbon fiber wings, hastening the A380s demise. 'Too bloody big' "Airbus has spent the last decade and a half trying to convince skeptical airlines and the media that the A380's moment is nigh," said Morrison. "In the end, simple economics won out." Despite the decades of service life left in newer models, that future could again be determined by economics. Already the first superjumbos have reportedly been decommissioned and earmarked for salvage. FlightGlobal's Morrison says that with little demand in the secondhand market the lifespan of the giant plane will be shorter than smaller models. "The early customers of the aircraft, Emirates included, have already made plans to retire their oldest A380s," he said. "Many more will be heading for the scrapheap throughout the 2020s." Already one A380 has been installed in the Le Bourget Aerospace Museum near Paris, but CNN's Quest says other airplanes are unlikely to follow. "Concorde conjured up an aspiration, it was something that only a few could fly on but everyone wanted to fly on," he says. "And it did something that no other aircraft did. This cannot be said of the 380. "Instead we'll probably end up with a giant scrapheap of 380s, unless Airbus comes up with a deal to buy them back. | https://www.cnn.com/travel/article/airbus-a380-scrapheap-scli-intl/index.html |
Is honey vegan? | By Jessie Blaeser Vegans do not eat any animal byproducts -- no meat, no dairy, no eggs. But when it comes to honey, there's a bit of a gray area. Bees make honey and store it in honeycombs as a future food source, and beekeepers extract excess honey for consumers. Some vegans feel that raw honey is acceptable, as long as it was harvested humanely. Others say that honey is an animal byproduct and is therefore off-limits. PERSPECTIVES For some vegans, this comes down to one things: bees are animals. If the bees make the honey, the honey itself is an animal byproduct, making it off-limits. Plus, taking the bees' honey is exploitive. According to Your Daily Vegan: Vegans avoid honey and bee products because bees make them. This avoidance makes sense. Vegans avoid animal products, and a bee is an animal. Others argue that if the reason to abstain from honey is the exploitation of bees or accidental bee deaths that occur during the honey-collection process, then there are many more foods vegans should eliminate from their diets. According to ThoughtCo's Doris Lin: There are, however, some self-described vegans who do eat honey and argue that insects are killed in other types of agriculture, so they are reluctant to draw the line at honey. Pure vegans point out the line between intentional exploitation and incidental killings, and beekeeping falls into the former category. Beekeepers are also known to clip the queen bee's wings in order to control bee populations. Some vegans see this practice as inhumane. To prevent the queen bee from leaving the hive, honey industry sometimes cut off her wings. #DigOutYourSoul #vegan pic.twitter.com/4IwvVbr5Ni -- RightsForAnimals [?] [?] [?] [?] [?] [?] [?] [?] [?] [?] (@No2Speciesism1) January 17, 2019 But some vegans worry that by eliminating honey from their diet, the vegan movement will seem too extreme to the masses, preventing potential newcomers from joining the ethics-based diet. ThoughtCo's Lin looks to Michael Greger, M.D, one of the leaders of the animal rights movement, for insight: He's also concerned that over-zealous vegans will turn off a lot of potential new vegans because it makes our movement look radical if even bees (bugs) are considered sacred. The Tylt is focused on debates and conversations around news, current events and pop culture. We provide our community with the opportunity to share their opinions and vote on topics that matter most to them. We actively engage the community and present meaningful data on the debates and conversations as they progress. The Tylt is a place where your opinion counts, literally. The Tylt is an Advance Local Media, LLC property. Join us on Twitter @TheTylt, on Instagram @TheTylt or on Facebook, we'd love to hear what you have to say. | https://www.nola.com/interact/2019/02/is_honey_vegan.html |
Could Thunder be a blueprint for post-Anthony Davis Pelicans? | The New Orleans Pelicans might have seen a glimpse of their future Thursday night. They still have to deal with this awkward Anthony Davis situation for the next two months, but once the Pelicans end the saga and trade the superstar in the offseason, their best chance to be successful might be to imitate the Oklahoma City Thunder. The Pelicans losing Davis and the Thunder losing Kevin Durant is not an apples-to-apples comparison by any means, but if Oklahoma City could so quickly overcome losing one of the best players in the NBA, perhaps New Orleans could, too. When Durant left in free agency in July 2016 to sign with the Warriors, the Thunder obviously had the benefit of having Russell Westbrook, who already was one of the best players in the league and had proven capable of carrying the team. I think the one thing is when Kevin left, I think it takes a special individual like a Russell Westbrook, whos got an enormous amount of confidence and belief in the organization (and) in himself, Thunder coach Billy Donovan said Thursday, noting how young the team became after Durant left. A lot of guys are looking for some direction, and when you have a player like Russell who can provide that kind of direction for the group and can kind of stabilize the group, that really, really helps, and I think that during that time, Russell was probably a very, very key component in that. The question for the Pelicans is whether or not Jrue Holiday can provide that same leadership in the Davis aftermath. Anthony Davis suffered muscle contusion in shoulder: source Westbrook is certainly a better player than Holiday, but Holiday has proven he can play as well on a given night as just about anyone in the league. Holiday showed that again Thursday when he contributed 32 points, seven assists, five rebounds, three blocks, two steals and played stellar defensively against Paul George in the Pelicans 131-122 victory at the Smoothie King Center. Hes scrappy, and he takes pride in his defense not a lot of guys do, George said of Holiday. I have the utmost respect for his approach, how he defends and wants to play defense. When the Pelicans eventually trade Davis, the apple of their eye should be a young player with potential to become a superstar, whether its Bostons Jayson Tatum or a high draft pick. Either way, Holiday is going to have to be the leader of the team and help the new players adjust quickly if the Pelicans hope to compete in the high-powered Western Conference. The Thunder made it to the postseason in 2017, the first season after Durants exit. Their top three players were Westbrook, Steven Adams and Victor Oladipo, whom they acquired in a trade before Durant signed with the Warriors. In addition to Holiday, the Pelicans next year will have Julius Randle, a skilled but flawed big man like Adams although Randle thrives offensively while Adams does his best work on defense. If the Pelicans can find a talented third piece in their Davis trade, either on Oladipos 2016-17 level or better, and improve the role players on the roster, they could be competitive immediately next season. After that 2016-17 season in which the Thunder lost in the first round of the playoffs, they traded Oladipo for Paul George and suffered the same fate despite the upgrade. Still, theyre on track to make the postseason again this year, and if New Orleans somehow manages to go to the playoffs three straight years after losing Davis, after all of the drama and poor roster construction under Dell Demps, it would be an incredible feat. The Pelicans beat the Thunder on Thursday with Davis playing 16 first-half minutes and then leaving the Smoothie King Center in the second half. The performances of Holiday and Randle (33 points, 11 rebounds and six assists) are indicative of what the future could hold, and if the Pelicans can extract appropriate value in their big offseason trade, perhaps life after Davis wont be as moribund as some expect. Anthony Davis, Rich Paul lit the torch for the Pelicans dumpster fire | https://www.nola.com/pelicans/2019/02/could-thunder-be-a-blueprint-for-post-anthony-davis-pelicans.html |
Does age really matter when he could be the one? | It depends. Dear Carolyn Adapted from a recent online discussion. DEAR CAROLYN: Ive recently started chatting online with a considerably older man closer to my parents age than mine. I swiped right because I thought he was attractive, but I didnt really expect to ever meet up with him. A few weeks and many deep conversations later and I realized I feel a real connection with him and, as odd as it sounds, I can see a potential future for us. Weve already talked about what that may look like he even brought up kids and we are on the same page. Its way too early to know whether this will really go somewhere, but, despite our strong connection, the age gap has me wondering if I should end this before I get any more invested. Dating Older DEAR DATING OLDER: If you have a problem with it, then it would make sense to end it before you get more involved. If you think other people have a problem with it, then it would make sense to ask yourself why you would change the course of your life to conform to other peoples expectations. Even your parents, if thats what youre worried about. There are challenges to consider, of course. Think of every life stage you might have ahead of you, and then imagine having to navigate its challenges plus the challenges of an age difference and all that potentially entails. Which isnt to say its the main thing to worry about. That sounds hardest of all. Like anything else, deciding how to deal with a big age difference is a matter of trade-offs, and of possibility versus certainty. Some people, for example, dont worry about the possibility they will end up caring for and long outliving a much-older mate, because they choose the certainty of loving a cherished person in the moment, for all moments they can get. If you cant figure these things out with any confidence yet, then thats fine, too. Its OK to date someone now with the intent of learning as you go. Thats what dating is for. The pre-emptive breakup is for when youre sure someone or something isnt for you. To: Dating Older: My husband is 19 years older than I am and we met after having both spent considerable time living independent lives. We knew what we had found with each other was special and profound. I am 47 and was recently diagnosed with a rare, extremely aggressive cancer. It is very, very unlikely I will outlive him. While it can be easy to assume how life might go, and that the younger partner will be the caretaker of the older, real life could have no bearing on that assumption. Choose who you want beside you as you walk down any path and season of life, whatever may come. Anonymous DEAR ANONYMOUS: Hear, hear, and take care I hope you beat your odds. | https://www.seattletimes.com/life/does-age-really-matter-when-he-could-be-the-one/?utm_source=RSS&utm_medium=Referral&utm_campaign=RSS_all |
Is Buckeye Partners a Buy? | There are few things the stock market likes less than a dividend cut. Midstream energy company Kinder Morgan (NYSE: KMI) found this out back in 2015 when it slashed its payout by 75%; the share price still hasn't recovered. Likewise, fellow midstream company Buckeye Partners (NYSE: BPL) was subjected to rough treatment by the market after it cut its payout by 40% in 2018. Shares of the master limited partnership (MLP) have tumbled more than 35% over the past year. But sometimes, big share price drops can create good buying opportunities for investors. Let's take a look at this beaten-down energy infrastructure company to see if it is in that position. Pipelines in a trench More Oil and gas industry player Buckeye Partners has been punished by the stock market. Image source: Getty Images. The do-over One of the biggest attractions of MLP shares are their yields. In return for preferential tax treatment, MLPs pay out almost all of their cash flow as distributions to unitholders -- for all intents and purposes, equivalent to the dividends many companies pay to stockholders. And those MLP distributions can be high: Buckeye's was nearly 15% before it slashed its dividend and even today, now that the dust has settled -- and the share price has dropped -- it sits at about 9.7%. Buckeye had a long history of quarterly distribution increases. But in 2017, the company went into debt to finance several projects including the $1.15 billion purchase of a 50% stake in overseas terminal operator VTTI. To help pay for the acquisition, Buckeye also issued new units, which diluted net income per unit. Unfortunately, the purchase didn't work out as planned: A weak storage environment left Buckeye struggling to fill its Caribbean terminals to capacity. It stopped its quarterly distribution increases, but suggested it would at least make annual increases instead. But then, with distribution coverage dropping below 1.0 -- meaning the partnership wasn't able to fully fund its distribution with cash from operations -- all that debt the company had taken on came back to bite it, because management was concerned about maintaining its investment-grade credit rating. On the Q3 earnings call, they bit the bullet, and announced they were cutting the dividend and selling the stake in VTTI. The share price dropped, but the company ended up in almost the same spot it had been in prior to the acquisition -- with no VTTI, lower debt, and solid distribution coverage. Growing pains Of course, this is a management team that has made some serious missteps, from the ill-fated VTTI purchase to its assurances to investors in Q2 2018 that it had no plans to cut the distribution. It's no surprise that Buckeye's return on capital employed -- a measure of management's effectiveness -- is about 1.5%, one of the lowest I could find among MLPs. However, Kinder Morgan has begun to get back into investors' good graces by executing well in the wake of its own payout cut. If Buckeye's management can use its "hard reset" to do the same, perhaps its units could be worth considering. On the company's most recent earnings call, CEO Clark Smith identified a handful of "higher-return growth opportunities," including a bidirectional pipeline in Ohio and Michigan that's still waiting on regulatory approval, expansions to the company's big Chicago Complex, and the South Texas Gateway marine terminal project for crude oil exports. | https://news.yahoo.com/buckeye-partners-buy-150600170.html |
Why Is Bank OZK (OZK) Up 19.2% Since Last Earnings Report? | Bank OZK (OZK) reported earnings 30 days ago. We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Bank OZK (OZK). Shares have added about 19.2% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Bank OZK Q4 Earnings & Revenues Beat, Costs Flare Up Bank OZKs fourth-quarter 2018 earnings per share of 89 cents surpassed the Zacks Consensus Estimate of 83 cents. The figure, however, compares unfavorably with the prior-year tally of $1.14. The year-ago number included adjustment related to the implementation of the tax act. Results primarily benefited from an improvement in net interest income. Loan and deposit balances displayed improvement. However, lower non-interest income, and higher expenses and provisions were the undermining factors. Net income available to common shareholders was $115 million, down 21.3% from the year-ago quarter. Earnings per share for 2018 came in at $3.24, down 3.3% from the prior year. Net income available to common shareholders was $417.1 million, down 1.1% from 2017. Figures of both the years included certain nonrecurring items. Revenues Improve, Costs Soar Net revenues for the fourth quarter came in at $255.9 million, up nearly 4.4% year over year. The top line also handily outpaced the Zacks Consensus Estimate of $246.08 million. Net revenues for 2018 came in at $999.2 million, up nearly 6.2% year over year. The revenue figure also beat the Zacks Consensus Estimate of $989.46 million. Net interest income for the quarter grew 6.3% year over year to $228.4 million. However, net interest margin, on a fully-taxable equivalent basis, shrunk 17 basis points (bps) to 4.55%. Non-interest income totaled $27.6 million, down 8.8% from the year-ago quarter. The fall mainly reflects the companys exit from mortgage-lending operation and decrease in bank service charges on deposits primarily due to the Durbin Amendments impact on the banks interchange revenues. Non-interest expenses were $94.9 million, up 10.1% year over year. The upsurge resulted from a rise in most of the expense components except professional and outside services, ATM expense, FDIC and state assessments, and advertising and public relations. Bank OZKs efficiency ratio was 36.9% compared with 34.82% in the prior-year quarter. A rise in efficiency ratio indicates lower profitability. Rise in Loans & Deposits As of Dec 31, 2018, total loans were $17.11 billion, up 6.7% from the year-ago quarter. As of the same date, total deposits grew 4.3% from the prior-year quarter end to $17.94 billion. Furthermore, the company had total assets of $22.39 billion compared to $21.28 billion in the prior-year quarter and shareholders equity was $3.77 billion compared to $3.45 billion in the year ago quarter. Credit Quality Worsens In the fourth quarter, Bank OZK incurred combined net charge-offs (NCOs) of $45.5 million on two Real Estate Specialties Group credits, which had been in its portfolio over more than a decade. Notably, these were previously classified as substandard. This was the primary reason for deterioration of the companys asset quality during 2018. The ratio of non-performing loans, as a percentage of total loans, expanded 13 bps year over year to 0.23% as of Dec 31, 2018. Additionally, annualized NCO ratio to average total loans rose 2 bps year over year to 0.07%. In addition, provision for loan and lease losses jumped significantly from the year-earlier quarter to $7.27 million. Profitability Ratios Deteriorate At the end of the reported quarter, return on average assets was 2.04%, down from 2.81% in the year-earlier quarter. Moreover, return on average common equity declined to 12.36% from 17.23% a year ago. Outlook Bank OZK expects non-purchased loans and leases to grow in the low to mid-teens in 2019. However, growth may vary quarter to quarter and on the current expectations of economic conditions, competitive environment and other factors. RESG loan repayments are expected to remain high in 2019. Despite repayments headwinds, 2019 non-purchased loan growth is projected to be better than 2018 level. The company expects its core spread to decrease in some quarters in 2019. Also, it expects factors such as the Feds decision to hike rates and movement in LIBOR rates to affect spread. Management expects first-quarter 2019 non-interest expenses to be higher on account of annual salary adjustments, increase in employee count and health insurance premiums. The company expects the effective tax rate to be 24-26% in 2019. | https://news.yahoo.com/why-bank-ozk-ozk-19-143002077.html |
Why Is M&T Bank (MTB) Up 5.6% Since Last Earnings Report? | M&T Bank (MTB) reported earnings 30 days ago. We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for M&T Bank (MTB). Shares have added about 5.6% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. M&T Bank Q4 Earnings Beat Estimates, Expenses Rise M&T Bank reported net operating earnings of $3.79 per share in fourth-quarter 2018, surpassing the Zacks Consensus Estimate of $3.51. Also, the bottom line improved 85.8% year over year. The company recorded rise in net interest income with support from margin expansion and loan growth. However, deterioration of credit quality and higher expenses were some negative factors. Also, fall in deposit balances was a headwind. Net operating income came in at $550.2 million, up around 68.4% from $326.7 million recorded in year-ago quarter. On a GAAP basis, M&T Banks fourth-quarter earnings per share of $3.76 jumped 87% year over year. Net income soared 69.6% to $546 million. For full-year 2018, the bank reported net operating earnings of $1.94 billion or $12.86 per share, up from $1.43 billion or $8.82 per share in the prior year. Revenues Increase, Loans Climb, Expenses Rise For 2018, the bank reported revenues of $5.95 billion, up 4.9% from the previous year. Also, it outpaced the Zacks Consensus Estimate of $5.89 billion. M&T Banks revenues came in at $1.54 billion, comparing favorably with the year-ago figure of $1.46 billion. Also, it surpassed the Zacks consensus estimate of $1.50 billion. Taxable-equivalent net interest income increased 9% year over year to $1.07 billion in the quarter, driven by higher net interest margin, partly offset by lower average earning assets. Furthermore, net interest margin expanded 36 basis points (bps) to 3.92%. The companys non-interest income came in at $481 million compared with $484 million in the year-ago quarter. Lower gain on bank investment securities and mortgage banking revenues were partially offset by higher trust, brokerage services and other income. Non-interest expenses were $802.2 million, up nearly 1% from the prior-year quarter. Excluding certain non-operating items, non-interest operating expenses came in at $797 million, rising 1%. The rise was attributable to higher salaries and employee benefits expenses in the recent quarter, partially offset by lower charitable contributions and FDIC assessments. Efficiency ratio came in at 51.7%, down from 54.7% in the prior-year quarter. Lower ratio indicates rise in profitability. Loans and leases, net of unearned discount, rose 1% year over year to $86.5 billion at the end of the reported quarter. However, total deposits declined 2.4% to $90.2 billion. M&T Bank's net operating income highlighted an annualized rate of return on average tangible assets and average tangible common shareholder equity of 1.93% and 22.16%, respectively, compared with 1.12% and 11.77% recorded in the prior-year quarter. Credit Quality Deteriorates Provision for credit losses rose 22.6% year over year to $38 million. Also, net charge-offs of loans came in at $38 million, up 40.7%. The ratio of non-accrual loans to total net loans was 1.01%, up 1 bp. Non-performing assets increased 1.4% year over year to $972 million. Capital Position M&T Banks estimated Common Equity Tier 1 to risk-weighted assets under regulatory capital rules were around 10.13%. Tangible equity per share came in at $69.28, up 0.3% year over year from $69.08. Share Repurchase During the December-end quarter, M&T Bank repurchased a total of 3.06 million shares of its common stock for a total cost of $500 million. Outlook for 2019 Management expects continued runoff of the residential real estate portfolio mostly at low double-digits. In 2019, average total loans are likely to grow on a full-year basis at a low single-digit pace. Further, the company expects to exceed this pace if C&I portfolio continues to grow like in fourth-quarter 2018 and slowdown in paydown continues. Management foresees slight benefit to NIM in case Fed doesnt announces further rate hikes. However, better upside is expected if the Fed continues to raise interest rates in 2019. | https://news.yahoo.com/why-m-t-bank-mtb-143002792.html |
Why Is Morgan Stanley (MS) Down 1.3% Since Last Earnings Report? | A month has gone by since the last earnings report for Morgan Stanley (MS). Shares have lost about 1.3% in that time frame, underperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Morgan Stanleys Q4 Earnings & Revenues Lag on Trading Woe Weak trading and underwriting performance affected Morgan Stanleys fourth-quarter 2018 adjusted earnings of 73 cents per share, which lagged the Zacks Consensus Estimate of 90 cents. The figure also reflected 13% decline from the prior-year quarter. Dismal underwriting (both equity and fixed income) revenues (down 25%) and fixed income trading revenues (down 30%) hurt Morgan Stanleys quarterly results. Additionally, net interest income recorded a fall. However, stable equity trading income and improvement in advisory revenues (up 41%) acted as tailwinds. Further, operating expenses witnessed a decline. Also, the companys capital ratios remained strong. Net income applicable to Morgan Stanley was $1.53 billion, up substantially from $643 million in the prior-year quarter. In 2018, adjusted earnings of $4.61 per share missed the Zacks Consensus Estimate of $4.86. However, the figure was up 28% year over year. Net income applicable to Morgan Stanley was $8.74 billion, up 43%. Trading, Investment Banking Hurt Revenues, Costs Down Net revenues amounted to $8.54 billion, a decline of 10% from the prior-year quarter. In addition, the top line lagged the Zacks Consensus Estimate of $9.44 billion. In 2018, net revenues rose 6% year over year to $40.11 billion. However, it marginally missed the Zacks Consensus Estimate of $40.99 billion. Net interest income was $989 million, down 1% from the year-ago quarter. This was largely due to a rise in interest expenses, partially offset by higher interest income. Total non-interest revenues of $7.56 billion fell 11% year over year, primarily due to dismal investment banking and trading performance. Total non-interest expenses were $6.69 billion, down 5% year over year. Quarterly Segmental Performance Disappoints Institutional Securities: Pre-tax income from continuing operations was $780 million, decreasing 37% year over year. Net revenues of $3.84 billion fell 15%. The decline was mainly due to lower trading income and underwriting revenues. Wealth Management: Pre-tax income from continuing operations totaled $1.1 billion, down 12% on a year-over-year basis. Net revenues were $4.14 billion, decreasing 6% due to a decline in transactional revenues, partly offset by higher asset management revenues and net interest income. Investment Management: Pre-tax income from continuing operations was $74 million, down 8% from the year-ago quarter. Net revenues were $684 million, up 5%. The increase was mainly driven by higher asset management fees, partially offset by fall in investment revenues. As of Dec 31, 2018, total assets under management or supervision were $463 billion, down 4% on a year-over-year basis. Strong Capital Position As of Dec 31, 2018, book value per share was $42.20, up from $38.52 as of Dec 31, 2017. Tangible book value per share was $36.99, up from $33.46 a year ago. Morgan Stanleys Tier 1 capital ratio Advanced (Fully Phased-in) was 19.4% compared with 19.3% in the year-ago quarter. Tier 1 common equity ratio Advanced (Fully Phased-in) was 17.0% compared with 16.9% a year ago. Share Repurchase Update During the reported quarter, Morgan Stanley bought back around 27 million shares for nearly $1.2 billion. This was part of the company's 2018 capital plan. In the past month, investors have witnessed a downward trend in fresh estimates. VGM Scores Currently, Morgan Stanley has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. | https://news.yahoo.com/why-morgan-stanley-ms-down-143002251.html |
Why Is Signature Bank (SBNY) Up 10.2% Since Last Earnings Report? | A month has gone by since the last earnings report for Signature Bank (SBNY). Shares have added about 10.2% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Signature Bank's Q4 Earnings Beat on High Revenues Signature Banks fourth-quarter 2018 earnings per share of $2.94 surpassed the Zacks Consensus Estimate of $2.79. Further, the bottom line compares favorably with $2.11 earned in the prior-year quarter. Results reflected overall growth in revenues. In addition, loan and deposit balances displayed continued improvement. Moreover, lower provisions acted as tailwinds. However, rise in expenses was a drag. Net income for the fourth quarter was $160.8 million compared with $114.9 million recorded in the year-ago quarter. For full-year 2018, earnings per share were $9.23 per share, surpassing the Zacks Consensus Estimate of $9.10. Further, the figure compares favorably with $7.12 per share earned in the prior year. Rise in Revenues Partially Offset by Higher Expenses For full-year 2018, the company reported revenues of $1.32 billion, up around 3.8% year over year. Moreover, the revenue figure surpassed the Zacks Consensus Estimate of $1.31 billion. Signature Banks total revenues in the quarter rose 3.9% from the prior-year quarter to $341 million. Also, the top line surpassed the Zacks Consensus Estimate of $331.5 million. Net interest income increased 4.8% year over year to $335 million backed by rise in average interest earning assets. However, net interest margin contracted 17 basis points to 2.90%. Non-interest income was $5.9 million, down nearly 30.3% year over year. The decline was primarily on account of an increase in tax credit investment amortization. Non-interest expenses of $119.2 million were up 8.4% from the prior-year quarter. The rise was primarily a result of the addition of private client banking teams, and an increase in costs in risk management and compliance-related activities. Efficiency ratio was 34.94% compared with 33.50% reported as of Dec 31, 2017. Higher ratio indicates fall in profitability. The companys loans and leases, net as of Dec 31, 2018, were $36.2 billion, up 11.7% from Dec 31, 2017. Further, total deposits rose 8.8% from 2017 end to $36.4 billion. Credit Quality: A Mixed Bag The company recorded net recoveries of $2.9 million in the quarter against net-charge offs of $38.8 million in the prior-year quarter. In addition, provision for loan and lease losses declined 84.6% to $6.4 million. However, the allowance for loan losses represented 0.63% of total loans as of Dec 31, 2018, compared with 0.60% as of Dec 31, 2017. Capital Ratios As of Dec 31, 2018, Tier 1 risk-based capital ratio was 12.09% compared with 11.99% as of Dec 31, 2017. Further, total risk-based capital ratio was 13.39% compared with 13.32% in the prior-year quarter. Tangible common equity ratio was 9.21%, down from 9.29% as of Dec 31, 2017. Return on average assets was 1.37% in the reported quarter compared with 1.08% in the prior-year quarter. As of Dec 31, 2018, return on average common stockholders' equity was 14.76%, up from 11.44% as of Dec 31, 2017. During the reported quarter, the company repurchased 358,492 shares of common stock for a total cost of $41.8 million. Outlook NIM is expected to contract 2-4 bps in first-quarter 2019. Management expects the tax rate to be around 25%. Management anticipates balance sheet to be up in the range of $3-$5 billion in 2019. Increase in loans is expected to contribute to 75% of total assets growth. Growth in commercial and industrial loans is expected in 2019. In the past month, investors have witnessed an upward trend in fresh estimates. VGM Scores At this time, Signature Bank has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy. | https://news.yahoo.com/why-signature-bank-sbny-10-143002644.html |
Why Is KeyCorp (KEY) Up 7.2% Since Last Earnings Report? | A month has gone by since the last earnings report for KeyCorp (KEY). Shares have added about 7.2% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. KeyCorp Q4 Earnings Top as Revenues Rise, Costs Fall KeyCorps fourth-quarter 2018 adjusted earnings of 48 cents per share surpassed the Zacks Consensus Estimate by a penny. Also, the figure compared favorably with earnings of 36 cents recorded in the prior-year quarter. Improvement in net interest income and a decline in expenses drove the results. Further, loans and deposits witnessed growth and capital ratios improved. However, higher provision for credit losses and a decrease in fee income were the undermining factors. After taking into consideration certain non-recurring items, net income from continuing operations was $459 million or 45 cents per share, up from $181 million or 17 cents per share in the prior-year quarter. In 2018, earnings of $1.70 per share increased 51.7% year over year. Net income from continuing operations (GAAP basis) was $1.79 billion, up 47.1% from the prior year. Revenues Improve, Expenses Decline Total revenues in the reported quarter were up 2.8% year over year to $1.65 billion. Also, the figure beat the Zacks Consensus Estimate of $1.63 billion. In 2018, total revenues were $6.46 billion, up 2.3% year over year. However, the figure surpassed the Zacks Consensus Estimate of $6.41 billion. Tax-equivalent net interest income increased 5.9% year over year to $1 billion. This included $23 million of purchase accounting accretion. Also, taxable-equivalent net interest margin from continuing operations increased 7 bps year over year to 3.16%. Non-interest income was $645 million, reflecting a fall of 1.7% from the year-ago quarter. The decline was mainly due to lower cards and payments income, trust and investment services income and investment banking and debt placement fees. Non-interest expenses decreased 7.8% year over year to $1.01 billion. The decline was due to a fall in both personnel costs and non-personnel expenses. Loans & Deposits Rise At the end of the fourth quarter, average total deposits were $108 billion, up 2.2% from the prior quarter. Average total loans were $89.3 billion, up nearly 1% on a sequential basis. Credit Quality Worsens Net loan charge-offs, as a percentage of average loans, increased 3 bps year over year to 0.27%. Provision for credit losses increased 20.4% to $59 million. Further, KeyCorps allowance for loan and lease losses was $883 million, up marginally from the prior-year quarter. Also, non-performing assets, as a percentage of period-end portfolio loans, other real estate owned properties assets and other nonperforming assets were 0.64%, up 2 bps year over year. Capital Ratios Improve KeyCorp's tangible common equity to tangible assets ratio was 8.30% as of Dec 31, 2018, up from 8.23% as of Dec 31, 2017. Also, Tier 1 risk-based capital ratio was 11.07%, up from 11.01% as of Dec 31, 2017. The companys estimated Basel III Common Equity Tier 1 ratio was 9.92% at the end of the quarter. Share Repurchases During the reported quarter, KeyCorp repurchased $278 million worth of shares as part of its 2018 capital plan. 2019 Outlook (includes impact of Laurel Road acquisition) Management expects average loans to be in the range of $90-$91 billion, up from 2018-level. Further, average deposits are expected increase year over year and be in the range of $108-$109 billion. NII (FTE basis) is anticipated to remain relatively stable or increase marginally to the $4-$4.1 billion range. This is based on the assumption of no interest rate hikes this year. NIM is expected to remain relatively stable with the 2018 level. Similarly, non-interest income is also expected to remain relatively stable or increase marginally to the range of $2.5-$2.6 billion. The rise is expected to be driven by growth in most of its core fee-based businesses, with growth in investment banking and debt placement business to continue. On cost front, non-interest expenses are expected to be in the range of $3.85-$3.95 billion (includes realization of $200 million of cost savings in second half of 2019). Notably, the outlook includes the impact of the Laurel Road acquisition, which adds roughly $50 million to the range. Further, the company targets to achieve cash efficiency ratio of 54-56% by the second half. NCOs rate is expected to be lower than the target range of 40-60 bps. Also, provisions are anticipated to increase marginally and exceed NCOs, given the loan growth. The effective tax rate (GAAP basis) is likely to be 18-19%. | https://news.yahoo.com/why-keycorp-key-7-2-143002912.html |
Why Is JB Hunt (JBHT) Up 13.7% Since Last Earnings Report? | A month has gone by since the last earnings report for JB Hunt (JBHT). Shares have added about 13.7% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. J.B. Hunt's Q4 Earnings & Revenues Beat Estimates The companys earnings (excluding 96 cents from non-recurring items) of $1.77 per share outpaced the Zacks Consensus Estimate of $1.48. However, increased costs associated with the ongoing arbitration with BNSF Railway Company hurt the bottom line. Total operating revenues increased 16.5% year over year to $2,317.84 million and beat the Zacks Consensus Estimate of $2,297.8 million. The upside can be attributed to strong segmental performance. Additionally, operating income decreased 15.8% to $122.74 million (on a reported basis) due to costs associated with rail purchase transportation. Also, operating ratio (operating expenses as a percentage of revenues) deteriorated to 94.7% from 92.7% in the prior-year quarter due to 19% rise in operating expenses from the year-ago quarters tally. Notably, effective tax rate increased to 20.5% sequentially in the quarter under discussion from 20.4% in the third quarter of 2018. Segmental Performance The Intermodal (JBI) division reported quarterly revenues of $1.26 billion, up 15% year over year. However, load volumes in the segment dipped 1%. Revenue per load excluding fuel surcharge revenues climbed 15% on a year-over-year basis. Operating income plunged 65% year over year, due to increased costs stemming from service delays and congestion. Dedicated Contract Services (DCS) revenues rallied 25% year over year to $596 million. The company added 458 trucks to the fleet during the fourth quarter, while customer retention rates were above 98%. Operating income surged 70% year over year to $59.4 million due to addition of new trucks and increased productivity. Integrated Capacity Solutions (ICS) revenues increased 7% year over year to $345 million. Revenue per load declined 6.4% year over year due to customer mix changes and reduced spot market activity compared with the year-ago quarters level. Meanwhile, volumes improved 14% year over year. The segment delivered an operating income of $16.1 million, up 43% year over year owing to higher gross profit margin. Truck (JBT) revenues improved 21% year over year to $118 million. At the end of the fourth quarter, J.B. Hunt operated 2,112 tractors compared with 2,032 in the year-ago quarter. Trailers fell to 6,800 in the period compared with 7,120 a year ago. Operating income soared 131% to $14.7 million, courtesy of favorable factors like higher rates per loaded mile and lower equipment ownership costs. Liquidity The company exited 2018 with cash and cash equivalents of $7.6 million compared with $14.61 million at the end of 2017. Long-term debt was $898.4 million compared with $1.09 billion at 2017-end. Net capital expenditures for 2018 totaled $885 million compared with $511 million in 2017. 2019 Outlook Capex for 2019 is estimated to be around $200 million less than the 2018 level. J.B. Hunt expects to allocate a major portion of Capex spending toward DCS and JBI segments and spend around $50 million for technological improvement in digital platforms. In the past month, investors have witnessed a downward trend in fresh estimates. VGM Scores Currently, JB Hunt has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, JB Hunt has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report To read this article on Zacks.com click here. | https://news.yahoo.com/why-jb-hunt-jbht-13-143002867.html |
Why Is MGIC (MTG) Up 12.5% Since Last Earnings Report? | MGIC (MTG) reported earnings 30 days ago. We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for MGIC Investment (MTG). Shares have added about 12.5% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. MGIC Investment Q4 Earnings Beat, Revenues Up Y/Y MGIC Investment reported fourth-quarter 2018 operating net income per share of 42 cents, beating the Zacks Consensus Estimate by 13.5%. However, the bottom line declined 2.3% year over year. The quarter witnessed favorable operating environment including better employment, wage growth, higher housing demand and lower credit losses of recently written business. Operational Update MGIC Investment recorded total operating revenues of $285.9 million, increasing 5.5% year over year on higher net investment income (up 19.7%) and higher premiums earned (up 3.5%). Net premiums earned increased on higher average insurance in force and a decrease in ceded premiums during the quarter, partially offset by the effect of lower premium rates. Net investment income increased on higher yields. New insurance written was $14.2 billion, down 4.7% year over year. Net underwriting and other expenses totaled $50 million, up 14.2% year over year attributable to higher compensation and other expenses. Total loss and expenses increased more than threefold on higher losses incurred and increase in underwriting and other expenses. Loss ratio was 11.3% in the quarter under review compared with (13.1%) a year ago. Underwriting expense ratio of 19.1% deteriorated 32 basis points (bps) year over year. Full Year Highlights MGIC Investment earned $1.78 per share in 2018, up 30.9% on 5.6% higher operating revenues of $1.1 billion. As of Dec 31, 2018, insurance in force was $209.7 billion, up 7.6% year over year on higher new insurance written and higher annual persistency. Persistency or the percentage of insurance remaining in force from the preceding year was 81.7% as of Dec 31, 2018, expanding 160 bps year over year. Primary delinquent inventory declined 29.3% year over year to 32,898 loans as of Dec 31, 2018 Financial Update Book value per share, a measure of net worth, grew nearly 4.6% year over year to $10.08 as of Dec 31, 2018. MGIC Investment had $151.9 million in cash and investments, up 52.1% year over year. Risk-to-capital ratio was 9.8:1 as of Dec 31, 2018 compared with 10.5:1 as of Dec 31, 2017. Debt to total capital ratio was 19% at the end of the quarter, improving 100 bps from the third quarter of 2018. The company spent $75.2 million to buy back 6.8 million shares in the fourth quarter of 2018, taking full year buyback to 16 million shares for $175 million. The company had $5 million remaining under its authorization. Fresh estimates followed an upward path over the past two months. The consensus estimate has shifted 5.56% due to these changes. VGM Scores Currently, MGIC has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Following the exact same course, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook MGIC has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MGIC Investment Corporation (MTG) : Free Stock Analysis Report To read this article on Zacks.com click here. | https://news.yahoo.com/why-mgic-mtg-12-5-143002366.html |
Why Is Commerce (CBSH) Up 2.8% Since Last Earnings Report? | Commerce (CBSH) reported earnings 30 days ago. We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Commerce Bancshares (CBSH). Shares have added about 2.8% in that time frame, underperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Commerce Bancshares Q4 Earnings Beat on Higher Revenues Commerce Bancshares reported earnings per share of 96 cents which surpassed the Zacks Consensus Estimate by a penny. The figure also reflects an improvement of 17.1% from the year-ago tally. Results primarily benefited from improvement in total revenues. Moreover, lower provisions and non-interest expenses supported the bottom line to quite an extent. Improvement in capital and profitability ratios was another positive for the company. Net income attributable to common shareholders was $109.7 million, up 16.2% from the prior-year quarter. Earnings per share for 2018 came in at $3.78, up 37% from the prior year. The figure also outpaced the Zacks Consensus Estimate of $3.77. Net income available to common shareholders was $424.5 million, up 36.8% from 2017. Revenues Grow, Expenses Decline Total revenues for the quarter came in at $345.3 million, reflecting a year-over-year increase of 11.6%. In addition, the reported figure outpaced the Zacks Consensus Estimate of $335.7 million. Total revenues for 2018 were $1.33 billion, reflecting a year-over-year increase of 10.9%. The annual revenue figure, however, lagged the Zacks Consensus Estimate of $1.37 billion. Net interest income for the quarter came in at $212.2 million, up 11.7% year over year. Non-interest income was $133.1 million, up 11.5% year over year. This upside stemmed from improvement in almost all components except loan fees and sales. Non-interest expenses decreased 9.7% year over year to $188.6 million. Other than salaries and employee benefits, marketing and data processing, and software, all expense components declined. Efficiency ratio for the quarter under review decreased to 54.53% from 67.40% reported in the year-ago quarter. Fall in efficiency ratio indicates improvement in profitability. Loans & Deposits Improve Marginally As of Dec 31, 2018, total loans were $14.1 billion, up 1.1% from the prior-quarter level. Also, total deposits, as of the same date, were $20.3 billion, up marginally from the previous quarter. Total stockholders equity was $2.9 billion as of Dec 31, 2018, reflecting rise of 8% from the third quarter. Credit Quality: A Mixed Bag Provision for loan losses decreased 3.1% year over year to $12.3 million for the quarter under review. Additionally, allowance for loan losses, as a percentage of total loans, came in at 1.13%, contracting 1 bps year over year. However, the ratio of net loan charge-offs to average loans was 0.34%, up from 0.32% witnessed in the prior-year quarter. Capital & Profitability Ratios Improve As of Dec 31, 2018, Tier I leverage ratio was 11.52%, up from 10.39% recorded in the year-earlier quarter. Moreover, tangible common equity to tangible assets ratio grew to 10.45% from 9.84% as of Dec 31, 2017. At the end of the reported quarter, return on average assets was 1.75%, up from 1.50% witnessed in the year-ago quarter. Return on average common equity was 15.85%, up from 14.17% in the prior-year quarter. Share Repurchase Update Commerce Bancshares repurchased nearly 0.6 million shares of treasury stock during the reported quarter at an average price of $61.63 per share. In the past month, investors have witnessed a downward trend in fresh estimates. VGM Scores At this time, Commerce has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Commerce has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Commerce Bancshares, Inc. (CBSH) : Free Stock Analysis Report To read this article on Zacks.com click here. | https://news.yahoo.com/why-commerce-cbsh-2-8-143002997.html |
Why Is People's United (PBCT) Up 8.4% Since Last Earnings Report? | It has been about a month since the last earnings report for People's United (PBCT). Shares have added about 8.4% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. People's United Q4 Earnings Beat, Expenses Escalate People's United reported fourth-quarter 2018 operating earnings of 36 cents per share, surpassing the Zacks Consensus Estimate of 34 cents. Also, the reported figure improved 16% year over year. Improvement in loans and deposit balances reflected organic growth, with its capital position remaining strong. Also, rising rates and higher fee income supported the results. However, elevated expenses and provisions were major drags. Net income available to common shareholders came in at $129.4 million compared with $102.7 million reported in the prior-year quarter. For full-year 2018, earnings per share were $1.29, in line with the Zacks Consensus Estimate. Further, the figure compares favorably with 97 cents earned in the prior year. Revenue Growth Offsets Higher Expenses For full-year 2018, the company reported revenues of $1.6 billion, up around 10.3% year over year. Moreover, the revenue figure came in line with the Zacks Consensus Estimate. Total revenues, on a fully-taxable basis, were up 11% year over year to $421.3 million in the quarter. However, the figure lagged the Zacks Consensus Estimate of $427.9 million. Net interest income, on a fully-taxable basis, totaled $339.5 million, up 11.6% year over year. Further, net interest margin expanded 10 basis points (bps) to 3.17%. Non-interest income climbed 1.6% year over year to $88.7 million. The rise in almost all components of income drove the results. These were partially offset by lower investment management fees. Non-interest expenses flared up 9.6% on a year-over-year basis to $262.7 million. Rise in almost all components led to higher expenses. Efficiency ratio was 55.1% compared with 56.1% recorded a year ago. A decrease in the ratio indicates improved profitability. As of Dec 31, 2018, total loans were $35.2 billion, up 8.9% from the previous quarter. Furthermore, total deposits increased approximately 9% to $36.2 billion, sequentially. Credit Quality: A Mixed Bag As of Dec 31, 2018, non-performing assets were $186 million, down slightly year over year. Ratio of non-performing loans to total originated loans contracted 1 bp from the year-earlier quarter to 0.55%. However, net loan charge-offs climbed 15.4% year over year to $7.5 million. Net loan charge-offs as a percentage of average total loans were 0.09% on an annualized basis, up 1 bp. Provision for loan losses came in at $9.9 million, up 32%. Capital Position and Profitability Ratios Improve Capital ratios of Peoples United remained strong. As of Dec 31, 2018, total risk-based capital ratio increased to 12.6% from 12.2% recorded in the last-year quarter. Tangible equity ratio was 7.6%, up from 7.2%. The companys profitability ratios improved. Return on average tangible stockholders equity was 14.9%, up from 13.8% in the prior-year quarter. Return on average assets of 1.11% inched up from 0.96%. 2019 Outlook (includes full year of Farmington and Vend Lease acquisition and excludes BSB Bancorp acquisition) Loan portfolio in the range of 3% to 5% on both period-end and average balances basis is anticipated. This goal excludes the transactional portion of New York multifamily portfolio, which is in runoff mode. Management expects the runoff in the transactional New York multifamily portfolio to be $400-$500 million. Deposits are projected to grow 3-5% on both period-end and average balance basis. Net interest income is projected to grow in the range of 10-12%. This is based on the expectation of NIM in the range of 3.15-3.25%, on assumption of no increases in fed funds during the year. Further, the company expects non-interest income to rise 2-4%. Management expects expenses (excluding merger-related expenses) to be in the range of $1.04-$1.06 billion. Notably, the range includes full year results from Vend Lease, Farmington and VAR Technology. Further, it assumes an increase of around $12 million in expenses as a result of adopting the new lease accounting standard on Jan 1, 2019, which limits the type of lease origination costs eligible for deferral in the companys equipment financing businesses. The company expects to maintain excellent credit quality with provisions in the range of $35-$45 million. Effective tax rate is expected to remain in the range of 20-22%. The company expects Common equity tier 1 capital ratio to be between 10% and 10.5%. | https://news.yahoo.com/why-peoples-united-pbct-8-143002713.html |
Could gold ash be a magic bullet for treating cancer? | Around the turn of the 20th century, Nobel Prize-winning scientist Paul Ehrlich coined the medical use of the phrase magic bullet. He was referring to a type of medical treatment that did not yet exist: one that could find a specific target in the body like a tumour, for example and deliver a precise therapeutic dosage to kill or contain a disease without harming healthy cells. A pioneer in the emerging field of chemotherapy, Ehrlich never found his magic bullet. But by the end of the century, his concept would become a cornerstone of modern nanomedicine, with nanoparticles proving capable of carrying cancer drugs directly to cancer cells. Researchers at Concordia University are studying how different types of nanoparticles behave at a fundamental level in human cells. Through this research, they have identified that an ancient Ayurvedic medicine called Swarna Bhasma, or gold ash, may have enormous potential as a magic bullet for cancer treatment. Ayurvedic or Sidha medicine was developed in India, its roots dating back at least 5,000 years. Bhasmas, or ashes or Paspams, have been used medicinally by Ayurvedic and Sidha practitioners since at least the seventh century. Resembling a fine powder, gold ash is derived from gold sheets, which are exposed to heat and mixed with botanicals and herbal juices during a lengthy preparation process. Gold ash may be prescribed for a range of ailments from infertility and sexual dysfunction, to cardiac disease. It may also be administered as a preventive treatment, believed to support immunity and good health in older adulthood. More recently, clinical studies in India have considered gold ash as a primary treatment for cancer, said Dr. Muthukumaran Packirisamy, a professor in Concordias department of mechanical, industrial and aerospace engineering at the Gina Cody School of Engineering and Computer Science. A specialist in nanotechnology, Packirisamy was intrigued. These gold ash (particles) are nothing but nanoparticles, he said. On average, gold ash particles measure around 60 nanometres, or billionths of a metre. (For scale, a typical sheet of paper is 100,000 nm thick.) Together with Dr. Alisa Piekny, an associate professor in Concordias department of biology, and their graduate students, Packirisamy set out to study the gold ash particles and their behaviour in human cells. While researchers in Packirisamys lab analyzed the composition of the gold ash particles for example, determining what elements they contained, apart from gold Pieknys team exposed gold ash particles to two types of human cells: HeLa cells, derived from cervical cancer, and HFF-1 cells, derived from human foreskin fibroblasts. Pieknys team also exposed chemically synthesized (or lab-made) gold nanoparticles to these same cell types. Significantly, the gold ash particles proved non-toxic; that means they didnt kill the cancer cells or harm the healthy ones. In fact, there were no notable differences in how these particles affected the different cell types. They did, however, behave differently from their chemically synthesized counterparts. [Gold ash] was able to get into locations of the cell where other gold materials were not able to get to, said Piekny. Whats pretty amazing is that the cells didnt seem to mind having this material inside them. Thats unusual; when a particle enters a cell, it usually remains enclosed by a sort of protective bubble. As Piekny explained it, chemically engineered nanoparticles get stuck in these vesicles in certain locations in the cell. But the gold ash particles proved able to break free from them and into the general cell environment, even accumulating in the nucleus during cell division. The reason for this behaviour remains uncertain, although it likely results from the tendency of the gold ash particles to group together in bulky formations. Because these particles are so large, we think that the cells cant retain them in the vesicles, Piekny said. Theres another advantage to the size of these particles: They have such a large surface area that maybe they can have really large, what we call payloads, said Piekny. Shes referring to drug delivery the idea that gold ash particles could carry therapeutics to cells, like a magic bullet. Their capacity, coupled with their unique access to locations within cells, might allow the gold ash particles to deliver cancer treatments in ways that other nanoparticles cannot. Theyve been using these nanoparticles [in Ayurvedic medicine] for thousands of years, said Packirisamy. Ive been trying to develop [synthetic nanoparticles] in the lab for the last 10 years. While the researchers stress that their work is still in its earliest stages, these preliminary findings are a welcome reminder that tradition and innovation arent mutually exclusive. Packirisamy pointed out that interdisciplinary studies like this one which was driven by Simona Badilescu, one of his postdoctoral researchers teach students to approach problems from different angles. I think it creates a new kind of thinking, he said. Piekny, too, noted the importance of collaboration between departments; at Concordia, she said, this is facilitated by research centres built around natural areas of synergy. This [interdisciplinary work] is where I see the future of science, she said. Discover more about Concordias health expertise: concordia.ca/nextgenhealth This story was created by Content Works, Postmedias commercial content division, on behalf of Concordia University. | https://montrealgazette.com/sponsored/news-sponsored/could-gold-ash-be-a-magic-bullet-for-treating-cancer |
Is A China Trade Deal Slipping Away? | Both President Trump and Chinese leaders are trying to put a positive spin on their marathon trade talks, but the fact is that there is little sign of progress. After the final round in Beijing on Friday, in which Treasury Secretary Steven Mnuchin and the US delegation met Chinese President Xi Jinping, about the only agreement that was reached was to continue the talks in Washington next week. It doesnt sound like it. The Wall Street Journal reported that the Chinese were trying to throw a bone to the American delegation by promising to buy more computer chips. But there was no mention of China changing its vaunted industrial policy of subsidizing state-owned companies and requiring American firms to form partnerships with Chinese companies when they do business in China. In the past, China has offered to step up purchases of US farm products and oil, which appeals to Mnuchin's desire to reach a compromise. But hardline US Trade Representative Robert Lighthizer has convinced the president to hold out for bigger benefits from a change in Chinese economic policy. Xi was quoted as saying that there had been "important, interim progress" in the talks, but that just is another way of saying we keep offering new purchases but the Americans don't seem to be buying. Lacking any concrete progress to report, Trump marveled at the fact that China executes drug traffickers and said that is why China has no drug problem, which is clearly not the case. He left open the possibility of a meeting with Xi to sign an agreement, but no date was set or likely to happen soon. China is coming here next week, Trump said. And then Ill be meeting with President Xi at some point after that to maybe for some remaining deals. Well make them directly, one-on-one, ourselves. Trump had set a deadline of March 1 for a deal to reached, threatening to raise tariffs on $200 billion worth of Chinese imports from the current 10% to 25%. Earlier in the week, he hinted that he might postpone the deadline if sufficient progress was being made toward a deal. The English language China Daily also noted on Saturday that there are still obstacles to be overcome, and no one should underestimate how daunting a task the two sides face trying to resolve all the differences that have long existed between them in one clean sweep. That doesn't sound very optimistic either. | https://www.forbes.com/sites/charleswallace1/2019/02/16/is-a-china-trade-deal-slipping-away/ |
What Makes A 547(b) Plan Different? | A 547(b) plan is likely your main retirement savings option if you work for the state or local government, or certain non-profits such as a church. With a 547(b) things can be a little confusing because plans such as the 547(b) (and also 403(b) plans), typically get less attention. That's a shame because 457(b)s are just as important and in many cases just as useful at 401(k)s, they just happen to be less common. However, 547(b) plans are hardly obscure, since millions of Americans have access to them. Fortunately, the differences to a 401(k) are not that great and 457(b) plans have some benefits over 401(k)s. The Similarities Just like a 401(k) a 547(b) plan is a workplace scheme to help you save for retirement. You can put aside money from your paycheck to build up a retirement nest-egg. That can be a nice setup because many people don't save enough for retirement. Saving automatically can help you stick to a saving plan. As a nice bonus, since you're saving for retirement pre-tax it can reduce the tax you pay now. However, remember it's only tax-deferral, so you will pay the tax in retirement. 547(b) are tax-deferred plans. This means that you don't pay when the money goes in, or should it grow or pay dividends. Typically, you end up paying the tax when you take the money out to spend it, normally in retirement. This means that by using a 547(b) you may save on taxes for your retirement savings. This is especially true if you expect to be in a lower tax-bracket in retirement, as many retirees are. If you elect to use a Roth 457(b), then that changes the tax angle. There are still tax benefits with a Roth, but they occur when the money comes out, not when it goes in. So like 401(k) plans 547(b) plans can offer both traditional and Roth versions. A Roth version may make sense if you are younger and expect to see your tax bracket increase in retirement. However, not all 457(b) plans have a Roth option. As its fundamentally a retirement scheme, you do, typically, have to use the money in retirement. Generally this means you have to start making withdrawals from your 401(k) or 457(b) by the time you are 70.5, though 457(b) plans are more flexible on potential earlier withdrawals (see below). In both, cases your employer may make contributions into the 401(k) or 457(b) plan as well if they choose to. For most people, the annual contribution limits are the same too. For 2019, that's $19,000 or $25,000 if you're 50 or over. Remember too, that your contribution amount can never exceed your pay. Also, if you're very close to retirement, contribution limits may differ (see below). The Differences 547(b) plans more flexible on withdrawal than 401(k)s. If you have left your employer, then you can normally take out money from your 457(b) without the 10% penalty that a 401(k) plan may incur for early withdrawal. That extra flexibility for 457(b) plans is helpful, but remember these plans are intended for retirement, so if you are that anxious to get at your money, then perhaps a retirement plan is not right for you, though the tax-deferral element may still be advantageous. 547(b) plans also have an accelerated way to contribute when you're close to retirement. 401(k) plans do not have this feature. You must be within 3 years of normal retirement age to use it. If you haven't used your contribution limit in prior years, then you can contribute up to $36,000 a year if you qualify, so it gives you a way to build your tax-deferred savings rapidly if you can afford to. Of course, you cannot save more than your salary. Summary So in fundamental ways 401(k) plans and 457(b) plans are quite similar, as a tax-advantaged way to save for retirement from your paycheck. However, 457(b) offer potential benefits if you're close to retirement and want to make additional contributions based on under-contributing in past years. Plus 457(b) plans can give you easier access to your retirement funds after you leave your employer. That said, here we are dealing with the plans at a high level in terms of rules and tax consequences. The specifics of any employer-matching and investment options can ultimately make a big difference to your savings outcomes regardless of the specific type of retirement account they are in. | https://www.forbes.com/sites/simonmoore/2019/02/16/what-makes-a-547b-plan-different/ |
Who won the NBA Slam Dunk Contest last year? | The NBA's All-Star Weekend is back for the 68th edition of the exhibition weekend, with the All-Star contests taking place on Saturday, Feb. 16 before Sunday night's game. While Saturday night will feature a skill competition and three-point shootout, the real spectacle is the evening's final event: the slam dunk contest. The dunk competition was added to the weekend's lineup in 1984, with 2019 marking the events 34th annual appearance. Utah Jazz shooting guard Donovan Mitchell won last year's dunk competition in Los Angeles, Calif., during his rookie season to follow up Glenn Robinson III's 2017 victory. Mitchell was named to the NBA All-Rookie First Team that same season. The former Louisville star finished his first year campaign with 20.5 points, 3.7 rebounds and 3.7 assists per game in 2017-18. Bulls guard Zach LaVine won two-straight slam dunk contests prior to Mitchell and Robinson's wins. He won back-to-back titles in 2015 and 2016 while with the Timberwolves. Here is a year-by-year look at the event's previous winners: 2018: Donovan Mitchell (Jazz) 2017: Glenn Robinson III (Pacers) 2016: Zach LaVine (Timberwolves) 2015: Zach LaVine (Timberwolves) 2014: John Wall (Wizards) 2013: Terrence Ross (Raptors) 2012: Jeremy Evans (Jazz) 2011: Blake Griffin (Clippers) 2010: Nate Robinson (Knicks) 2009: Nate Robinson (Knicks) 2008: Dwight Howard (Magic) 2007: Gerald Green (Celtics) 2006: Nate Robinson (Knicks) 2005: Josh Smith (Hawks) 2004: Fred Jones (Pacers) 2003: Jason Richardson (Warriors) 2002: Jason Richardson (Warriors) 2001: Desmond Mason (Sonics) 2000: Vince Carter (Raptors) 1997: Kobe Bryant (Lakers) 1996: Brent Barry (Clippers) 1995: Harold Miner (Heat) 1994: Isiah Rider (Timberwolves) 1993: Harold Miner (Heat) 1992: Cedric Ceballos (Suns) 1991: Dee Brown (Celtics) 1990: Dominique Wilkins (Hawks) 1989: Kenny Walker (Knicks) 1988: Michael Jordan (Bulls) 1987: Michael Jordan (Bulls) 1986: Spud Webb (Hawks) 1985: Dominique Wilkins (Hawks) 1984: Larry Nance (Suns) Saturday night's showdown in Charlotte's Spectrum Center will take place at 8 p.m. ET. | https://www.si.com/nba/2019/02/16/nba-all-star-slam-dunk-2018-winner-history |
Is benefit of having trees 'oversold' in green space planning? | Trees in the city may not be as green as we think. They produce rotting leaves that pollute lakes and streams with too much phosphorus. They can actually trap air pollution right at nose level. And what with watering, maintenance, and replacement when they die, they are not always an efficient way to store carbon. In short, often trees are oversold as a natural solution for environmental problems in cities, according to Bonnie Keeler, a University of Minnesota professor who studies ways of valuing nature. In fact, she reviewed 1,200 scientific studies on increasingly popular green infrastructures such as urban forests, parks, rain gardens, and wetlands and found in a recent paper that its unclear how well any of them stack up against gray solutions like concrete storm sewers and air conditioning. Its an increasingly urgent question for the Twin Cities. At projects such as the Ford site in St. Paul, the Mississippi River Upper Harbor in Minneapolis and a redesign for sections of Minnehaha Creek, planners face complex choices for managing stormwater and air pollution. The answers will help define the future for a growing share of the worlds population. By 2050, two out of three people will live in urban areas that will affect their health and well-being, Keeler said. Immense social challenges like climate change, public health and public funding will have the greatest impact on people who live in cities. There is a huge interest in expanding funding for green infrastructures, she said. But we dont have a tool to understand their value. Take trees, for instance. There is no question that they are crucial to global ecosystem health. But in the city it can be a different story. Keelers review, published last month in Nature Sustainability, found that most evaluations of urban trees focused on two benefits: filtering air and sequestering carbon. Few considered the costs of maintenance, replacement, or public health. Even their estimated ecosystem values ranged widely from $5 to $402 per tree. At the same time, theres no widely accepted method to calculate the more ephemeral value that trees provide, such as joy in their beauty, a resting places for birds, or the coolness of their shade. Green is sometimes more expensive, but it can carry other benefits that are not as well captured in markets, Keeler said. Nonetheless, urban planners around the Twin Cities area are now incorporating these hard-to-measure benefits into their decisions on managing land and water. Minnehaha Creek is a showcase for the way different cities along its route increasingly see the waterway as tool to leverage green solutions for an array of social and environmental problems. As the western Twin Cities suburbs grew around it, the creek became an easy place to get rid of water that ran off streets and parking lots. Along much of its length it was forgotten, hidden by buildings and covered by streets. But that changed in 2009, starting with Methodist Hospital in St. Louis Park. Like many buildings along its banks, the hospital had turned its back to the creek and a nearby wetland. But the hospitals expansion plans brought officials of the Minnehaha Creek Watershed District into the conversation. The district officials, who help manage the creek from Lake Minnetonka to the Mississippi River, saw a chance to improve water quality in the creek by bringing back its natural curves, which had long ago been straightened so stormwater could move along faster to the Mississippi. Curves would slow down the flow of water, increase flood plain along the banks and expand the size of the wetland behind the hospital, filtering out more dirt and pollutants. A decade later the entire health care complex has turned around to face to the wetland. Its paid for boardwalks that allow patients and staff to unwind outdoors everyday, and even pulled the theme of water and wildlife into its interior design. The staff can feel the joy of coming to a workplace where they can enjoy nature, said Duane Spiegel, vice president of real estate for HealthPartners, which merged with the hospitals parent organization, Park Nicollet, in 2013. Patients and their families are no longer confined to the hospital they can go outside. A good healing environment, that helps them in recovery, said Dr. Tom Kottke, medical director for health and healing at HealthPartners. Hopkins replants a park There is no question, Keeler said, that improved mental health is one of the clear benefits of green infrastructure in urban areas. But how do cities determine the nature of the nature? she asked. Do people just need to walk by trees, or do they need an immersive walk with the sound of birds? The difference matters, she added. Some people want lawns, soccer fields and picnic tables. Others want dog parks, urban wilderness or farmers markets. Put in the wrong one, and instead of a thriving outdoor space, she said, you eventually get a blighted eyesore. But put in the right one, as Hopkins did with its Cottageville Park improvement project along Minnehaha Creek near Blake Road and Highway 7, and it can revive a neighborhood. A tiny park surrounded by apartment buildings along the creek had become a place where crime could happen unseen, said Kersten Elverum, Hopkins director of economic development and planning. The area was redesigned in 2015 as part of a larger project with the watershed district, with water and flood control included as part of the package. The creek banks were replanted, the park was enlarged, and a sweep of grass in the center now covers a basin to hold and treat stormwater. The larger, open park now includes a community garden, trails, a basketball court and playground, making it safer and a destination for the entire neighborhood. There are a lot of ways that this diverse community that lives around the park can get together and get to know each other, Elverum said. The environmental benefits of the project are less obvious, but significant: Some 400 feet of stream bank were restored, and the new site treats stormwater runoff from 22 surrounding acres, removing 26 pounds of phosphorus a year. And that impacts everyone downstream, Elverum said. A stream is born There are places, however, where gray infrastructure still tops the green version especially where its already built. Downtown Minneapolis, for instance, relies on 16-foot concrete stormwater tunnels to drain millions of gallons and lots of pollutants from the streets directly into the Mississippi River. But they keep downtown functioning, said Kristina Kessler, the citys director of surface waters and sewers. And while a rain garden on every corner of the city would certainly help, she said, the long-term maintenance cost is beyond what we can do. Often, said Keeler, the best opportunity to get the most out of green infrastructure, is a new development such as the massive project underway at Ford Motor site in St. Pauls Highland neighborhood. Even so, as that site makes clear, justifying the added expense is still a new exercise in public policy. One of the most popular features of the new development is the novel treatment of stormwater. Instead of passing through underground sewers, the water will flow above ground in a stream running through the center of the complex which will also provide the water to re-create the falls at nearby Hidden Falls park. It will be aesthetically beautiful and, on its face, cost about the same as underground pipes, said Wes Saunders-Pearce, St. Pauls water manager. But using a complex computer model, planners were able to quantify the added benefits from the aboveground version, including factors such as water quality improvements and energy- and greenhouse-gas reduction from all the extra trees that could be planted along the stream. That was a huge turning point, he said. It was twice the benefit compared to the traditional way of planning. Josephine Marcotty is a Twin Cities science writer and former Star Tribune environment reporter. She can be reached at [email protected]. | http://www.startribune.com/green-value-of-twin-cities-trees-get-second-look/505843392/ |
Is Baozun a Buy? | Baozun (NASDAQ: BZUN) is a Chinese e-commerce company that's posted big stock gains since its market debut in 2015, with shares having more than tripled since its IPO. However, it has recently hit some turbulence, and it's not unreasonable to expect that the stock will continue to be volatile. BZUN Chart More BZUN data by YCharts. Shares hit a lifetime high of $67 last summer thanks to consistently encouraging sales and earnings performance, progress on the company's transition to a higher-margin and more software-focused model, and investor appetite for growth potential in China's e-commerce industry. But Baozun's summer run was cut short amid a broader downturn for Chinese stocks -- as intensifying trade tensions with the U.S. raised potential roadblocks to growth, and were followed by data showing that China's economic growth was slowing. The shifting economic dynamics dampened the market's outlook on Baozun, and today, shares trade in the $34 range. While the market now appears to be pricing in slower growth and more risk, much of the core bullish thesis remains intact, and Baozun stock deserves a look from risk-tolerant investors. A mobile phone and a shopping cart. More Image source: Getty Images. An e-commerce platform with big growth potential Baozun is a company that's playing a key role in helping Western brands crack China's large and fast-growing online-retail market. The business provides customizable e-commerce websites, warehousing and order fulfillment, and customer-management services. In addition to these features, Baozun can offer tie-in sales portals across China's largest e-commerce connection points -- including platforms like Alibaba's Tmall, Tencent's WeChat, and JD.com. This makes the company a sort of one-stop shop for brands looking to quickly deploy and scale up in China's online retail market. Baozun counts companies including Nike, Starbucks, and Microsoft among its 170-plus brand partners. And there's big potential for sales and earnings expansion as it adds new partners and as it benefits from merchandise-volume growth for stores already on its platform. Management says that it has major new partners in the apparel, luxury, and fast-moving consumer goods categories joining the platform in the near future. It's feasible that the company will be able to continue growing its customer base over the long term. And a pivot away from warehousing and order fulfillment in favor of prioritizing software and services should continue to be a beneficial margins catalyst. | https://news.yahoo.com/baozun-buy-164000197.html |
Why Is Macy's Closing So Many Seattle and Bay Area Stores? | The San Francisco Bay Area and Seattle are the two biggest hubs of the U.S. tech industry. Not surprisingly, they have been among the fastest-growing parts of the country in recent years. In fact, the San Francisco, San Jose, and Seattle metropolitan areas account for 3 of the 4 strongest regional economies in the U.S., according to Business Insider. Despite this breakneck economic growth, both the Bay Area and Seattle have been hit hard by Macy's (NYSE: M) store closures and store downsizings in recent years. Let's take a look at why the No. 1 department store chain is shrinking in these fast-growing markets. Rapid downsizing Over the past five years, Macy's has significantly reduced its footprint in the Bay Area. In 2015, it closed its store in Cupertino. In early 2018, it closed a furniture store in Novato (in the North Bay area) and a full-line store at Stonestown Galleria in San Francisco proper. Last September, it closed its men's store in downtown San Francisco. Right now, Macy's Sunnyvale store is in the midst of a final clearance sale. The company is also preparing to shrink its San Francisco flagship store, and recent local media reports indicate that Macy's is planning to close its men's store in Palo Alto. The exterior of Macy's Union Square flagship store in San Francisco. More Macy's recently sold a portion of its San Francisco flagship store. Image source: Macy's. The downsizing has been somewhat less stark in Seattle, but unmistakable nonetheless. In the past few years, Macy's has shrunk the size of its downtown flagship store by about two-thirds. Additionally, Macy's is in the midst of a final clearance sale for its Redmond full-line store and has already announced that it will close its store at Seattle's Northgate Mall next year. Weighing the real estate against the business Macy's retrenchment in the Bay Area and Seattle doesn't mean the retailer is doing especially poorly in those markets. Instead, it is reacting to several important changes in the retail and real estate markets. First, mall traffic has been falling, particularly at lower-quality malls. Second, the rise of e-commerce means it's no longer essential to blanket the country with stores just for the sake of convenience. Third, real estate values have soared over the past decade -- especially in the Bay Area and Seattle. The result is that in many cases, the profits Macy's can earn from continuing to operate a particular store can't match up to the value of the underlying real estate. Indeed, Macy's has collected an enormous amount of cash in exchange for downsizing in these regions. It received a total of $115 million for the upper floors of its Seattle flagship store. It sold the ground lease for its Cupertino store for $32 million. Its mall-based stores in Sunnyvale and San Francisco sold for $40 million and $41 million, respectively. Most notably, Macy's brought in about $250 million from selling the Union Square men's store and recently received a similar amount for a 240,000-square-foot piece of its main San Francisco flagship store. Even where it hasn't received huge sums for closing stores in the Bay Area and Seattle, high real estate values may be accelerating Macy's downsizing initiative by driving up rents. Of all the stores discussed above, the only location that appears to have been closed purely due to underperformance was the Redmond, Washington, store. | https://news.yahoo.com/why-macy-apos-closing-many-170500976.html |
Should we retire "retirement"? | As our lives have been getting longer and healthier compared to prior generations some people advocate doing away with the concept of retirement altogether. In support of that idea, increasing numbers of workers report in surveys that they expect never to retire, and not just because they cant afford to but often because they like the idea of continuing to work. While I celebrate people who are trying to break stereotypes, I respectfully disagree with those who advocate eliminating the concept of retirement altogether. Lets take a look at recent trends that might have inspired the no retirement point-of-view and consider an alternative perspective. In the 20thcentury, prior generations experienced a life cycle that could be generally be broken into three stages: Childhood/education/early adulthood Middle age/career/raising family Retirement/leisure/elderhood The problem is, as our lifespans continue to be extended, we cant just keep adding the extra years to the retirement phase of life. It just takes too much money to be retired for 25 years or more, which can easily happen if you retire in your early to mid 60s. Also, many unforeseen and challenging events can happen in the economy or your life that can derail the careful retirement plans you might have made. As you transition out of your first middle age, its important to distinguish whether you want to transition into full retirement or into your second middle age. During your second middle age, youre still active, vital, and productive, but youre no longer raising a family or aggressively pursuing the career of your first middle age. Freedom can be one good word to describe this second middle age. At this stage, youre free from the expectations of others. Free from preconceived notions of how you might live your life. Free from the responsibility of raising a family. Free to do what you've always wanted to do. You can break free from the advertising influences that tell you to spend your time and money in unhealthy and unfulfilling ways. You can break free from the consequences of unconscious choices you might have made earlier in your life. Another good focus during this second middle age can be independence. Your financial independence may come from wages, self-employment, financial resources, government benefits, efficient sharing of resources, or, more likely, a creative combination of all these solutions. If youre working during this second middle age, you might gain independence by redefining your career to better suit your goals and circumstances at this stage in your life. You might choose to do more work that you like and less work that you dont like. To make that happen, youll need to keep your job skills up-to-date, which may require a recommitment to learning, obtaining new credentials, or pursuing alternative careers. You might even work fewer hours to free up time to pursue your interests. Of course, this could also mean youll make less money, but perhaps youll buy less stuff because youll be making more conscious spending choices. If so, youd be in good company. One study from Merrill Lynch and Age Wave shows that 95% of retirees prefer enjoyable experiences rather than buying more things. Often you cant have it both ways, so youll need to make a potentially hard choice. I believe that people who advocate eliminating retirement are really just focusing on their second middle age, without thinking about what might happen afterwards. Plan beyond your second middle age The goal, not just in this second middle age but also in retirement, is to extend the life period of freedom and independence for as long as possible to be physically fit, mentally sharp, functionally independent, and financially secure well into very old age, perhaps well into your 80s or even 90s, if possible. However, no matter how healthy and capable you may be in your second middle age, many people may still experience a period of physical decline and illness in their late 80s or 90s. After your second middle age comes your final life stage, which we might call retirement. During this period, you'll most likely be unable or unwilling to work for pay and will need to rely exclusively on financial resources, family, and government benefits. The fact is, as you age, your needs will change. As you plan for your retirement, youll want to plan for all phases of your rest-of-lifeyour second middle age and your retirement. Youll need to make financial and life-planning decisions for all these stages, so youll have the resources you need to support yourself no matter what stage you find yourself in. | https://www.forbes.com/sites/stevevernon/2019/02/16/should-we-retire-retirement/ |
Can Rockies Mike Dunn, his shoulder finally pain free, bolster bullpen? | SCOTTSDALE, Ariz. Mike Dunn is the Rockies forgotten reliever, but a major cleanup of his ailing left shoulder could give a suspect bullpen a major boost. Hes doing a great, manager Bud Black said Saturday. Hes another veteran arm that has pitched well in the back of the bullpen. Hes done that in his career, but here, hes been a little bit off, because hes been hurt. But a healthy Mike Dunn will be very beneficial to our bullpen. Dunn, 33, knew something was wrong with his shoulder. He was sure there was a reason for the pain that forced him to shut down in early July last season after pitching in just 25 games and being limited to 17 innings, with an ugly 9.00 ERA. What Dunn didnt know was just how messed up his shoulder really was, until he underwent surgery near the end of the season. They went in and cleaned up the AC joint, Dunn said. The doctors said it looked like crab meat floating in water. Surgery also included shaving down his collarbone to reduce friction. The results, Dunn said, have given his career a rebirth. For the first time in a long time, Im able to throw with no pain, Dunn said. It was something where I really didnt realize I was going through it. Once I recovered enough to play catch, I was like, I havent felt like this for a long time. I realized Id been fighting this for at least two years. It all finally came to a head. Dunn has thrown nine bullpen sessions this winter and figures hes about a week behind the rest of the relievers. He has no doubt hell be ready for opening day. My arm feels free and easy again, he said. Dunn signed a three-year, $19 million deal prior to the 2017 season and went 5-1 with a 4.47 ERA over 50 innings in a club-high 68 appearances. Hell make $7 million this season and the club holds a $6 million option on his contract next season, with a $1 million buyout. Tech time. The Rockies have joined a number of teams in using the Rapsodo machine to analyze spin-rate data for pitchers. The Rapsodo camera is used to understand how much movement, velocity and spin pitchers are getting during their bullpen sessions. With where technology is these days, I look at it as a tool to help us evaluate, Black said. Its also a tool for our scouts and player development (staff). It can also be used as a coaching tool. We will use it and are using it. Our coaches and I are getting up to speed with the measurements. I think players in general are curious about technology and how it can help them improve. | https://www.denverpost.com/2019/02/16/mike-dunn-rockies-shoulder-pain-free-bolster-bullpen/ |
Could General Electric Be a Millionaire Maker Stock? | General Electric (NYSE: GE) is in the middle of a massive corporate overhaul. Investors worried about its ability to navigate that evolution successfully have pushed its share prices down some 70% from their 2016 highs to levels not seen since the Great Recession. This is a special situation stock with huge upside potential if the turnaround effort works. But putting that "special situation" tag on GE changes the investment equation in a big way. Yes, it could be a millionaire maker stock, but only if you're willing to take on the risk that it could also flame out. Here's what you need to think about before you jump aboard here. An iconic leader who left a mess behind him The troubles currently facing GE can really be traced back to Jack Welch -- an assertion that to some people probably sounds like heresy. Welch was a powerful presence in the business world, often hailed as one of the greatest managers of all time. However, it was under his watch that GE allowed its finance arm to expand beyond its core purpose. A man with his head on a table and a graph behind him with a line heading sharply lower More Image source: Getty Images Like many industrial companies, GE has an in-house finance business that provides credit to customers so they can afford the often-huge costs of the industrial products GE makes. This is a good business practice, and not odd at all. However, the often-huge profits generated by the finance division led GE to expand its footprint into other areas, like home mortgages. When the Great Recession hit, the company's survival was threatened by the losses from its finance division. Jeff Immelt, Welch's successor, was in charge by that point, and he was forced to cut GE's dividend, take massive write offs, sell assets, and accept a government bailout. Immelt did manage to keep GE going, however, and started to steer it in a new direction focused entirely on the industrial space. That said, his efforts, which included a couple of large acquisitions, didn't produce the results that the board was hoping to see, and they replaced him in mid-2017 with insider John Flannery. The new CEO announced write offs, asset sales, and a dividend cut, explaining to investors that things were worse than his predecessor had been letting on. Flannery only lasted about a year on the job before the board shifted gears yet again in late 2018 to bring in outsider Lawrence Culp. Culp, who had been a member of the board, had previously put up a strong record at the helm of Danaher, a much smaller industrial company. He came in, explained that the company was in worse shape than investors were led to believe, and announced... write offs, asset sales, and the reduction of the quarterly dividend to just a penny a share (just enough so that institutional investors with a dividend mandate could continue to own the stock). That basically brings the story up to today's special situation designation. At this point, General Electric is struggling under a heavy debt load and ongoing uncertainty in what's left of its finance arm. (Much of the business has been sold, leaving something of a black box housing liabilities that no other company wanted to take on.) To put a number on that, GE's financial debt to equity ratio of nearly 1.3 times is well above that of its peers, many of which are at 0.25 or less. One of Culp's first priorities is to get leverage under control. If he can do that, investors are likely to start viewing GE in a far more positive light. | https://news.yahoo.com/could-general-electric-millionaire-maker-213200697.html |
Could Brookfield Renewable Partners Be a Millionaire-Maker Stock? | Brookfield Renewable Partners (NYSE: BEP) has generated strong returns for its investors over the years. CEO Sachin Shah pointed this out on the company's fourth-quarter conference call, stating that "since our inception in 1999, we have delivered 15% per unit compounded annual total returns to unitholders," which is well ahead of the S&P 500's 5% annualized total return over that time frame. Powering the company's market-beating returns has been its ability to consistently grow earnings and its dividend, with that latter factor known to be key in fueling outperformance. While past performance is no guarantee of future success, Brookfield Renewable Partners not only has the right approach, but it's pursuing a massive market opportunity, which increases the odds that it can continue growing both earnings and its dividend at a healthy rate for years to come. Because of that, Brookfield Renewable Partners does indeed look like a strong candidate to be a millionaire-maker stock. Stacks of money. More Image source: Getty Images. The math to $1 million It's mathematically possible for a small investment to grow into a $1 million payday given enough time and rate of return. For example, $1,000 invested in the S&P 500 should grow into $1 million in about 75 years, assuming the market maintains its average annualized return of slightly less than 10%. Investors, meanwhile, can quicken that time frame by either investing more money up front or choosing a higher-returning opportunity. Using Brookfield Renewable Partners as our example, if the company keeps generating a 15% total annualized return in the decades ahead, an investor could become a millionaire in as few as 33 years if they invested $10,000 or about 49 years if they started with a $1,000 investment. The question, however, is whether Brookfield Renewable Partners can continue generating that level of return in the coming decades. Here are two reasons why there's a strong probability that it could do just that. Targeting long-term outperformance Brookfield Renewable Partners' stated objective is to deliver long-term total returns to its investors of 12% to 15% annually. The high end of that range, of course, lines up with our math to $1 million. However, if the company only grew earnings at the low end, it could still turn a small up-front investment into $1 million, though it would just take longer (about eight more years assuming a $10,000 initial investment and 12 years at $1,000). Three factors power the company's forecast. First, Brookfield Renewable currently pays an attractive dividend that yields 6.7% and forms the base return. Second, the company expects a trio of factors to enable it to organically grow earnings per share by 6% to 11% per year. These growth drivers include inflation escalators on existing contracts, the ability to expand margins by cutting costs and signing higher-priced power sales agreements in the future, and investments in developing new renewable projects that grow cash flow. Finally, the company anticipates that its increasing cash flow will support 5% to 9% annual dividend growth. That combination of yield and growth should generate 12% to 15% annual returns, since the roughly 7% yielding distribution, when combined with 6% earnings growth, should produce a total return of around 13%. | https://news.yahoo.com/could-brookfield-renewable-partners-millionaire-213100005.html |
Why Did CenturyLink Decide to Cut Its Dividend? | On the company's fourth-quarter earnings conference call, management disclosed it would be cutting the telecom service provider's annual dividend from $2.16 to $1.00 per share. CenturyLink's share price had declined a lot since summer, driving its dividend yield over 15%, so clearly some investors anticipated this possibility. Even after the cut, CenturyLink's yield stands at over 7%. Still, many were surprised, since management had regularly expressed confidence in the dividend throughout 2018, and the company's free cash flow handily covered the payout. A young man grimaces as dollar bills fly out of his wallet. More CenturyLink's dividend cut irked some investors. Image source: Getty Images. What management had to say On the company's earnings call, CEO Jeff Storey said: ... this change in policy isn't about a diminished view of our business. It is driven by our view that the long-term interests of shareholders are best served by proactively accelerating delevering to a new lower target range of 2.75 to 3.25 times net-debt to adjusted EBITDA ... By reallocating more of our capital to leverage reduction, we believe [we] will improve our cost of capital, return a significant amount of cash to shareholders at a very sustainable payout ratio, and provide additional flexibility to respond to market opportunities and any potential interest rate challenges that may occur. In essence, management thinks even though CenturyLink could preserve the dividend, it would be better for the long-term health of the business to invest in the network, lower the company's $36 billion debt load, or make potential acquisitions. CenturyLink is also still saddled with some legacy copper-based products, such as landline phones and slower internet. Those headwinds are currently more than offsetting the company's fiber-based growth businesses, leading to current revenue declines on an overall basis. The new debt-to-EBITDA (earnings before interest, taxes, depreciation, and amortization) range is a three-year target, reflecting not only the debt paydown, but also EBITDA growth from investments in new products and capabilities. An analyst pushes back Many investors, and at least one analyst, may have been confused by management's decision, especially in light of pretty decent 2019 guidance. For the upcoming year, CenturyLink guided to a slight increase in adjusted EBITDA, from $8.94 billion last year to a range of $9.0 billion-$9.2 billion in 2019. However, the company's free cash flow guidance was $3.1 billion-$3.4 billion, down from this year's adjusted free cash flow of $4.22 billion, due to increased capital expenditures and the comparative effect of a lowered tax expense in 2018. Still, that free cash flow guidance would have handily covered the old $2.3 billion dividend payout -- though as we'll see below, just covering the dividend payout doesn't tell the whole story. Analyst David Barden of Bank of America pushed back on management's decision to pay down debt early, asking, "...between the $6 billion of cash flow that you're gonna generate and the $3.6 billion of debt that matures and everything's trading above par, [it] doesn't really make sense to pay it down early." | https://news.yahoo.com/why-did-centurylink-decide-cut-212700596.html |
How much longer will Blue Jays fans have to wait for Vladimir Guerrero Jr.? | The 19-year-old Guerrero is baseballs top prospect, ranked first on almost all of the top-100 lists that come out this time of the year. The third baseman hit .381 a season ago across four levels of the minors and .351 in the Arizona Fall League. The consensus is that he is ready for the majors. Blue Jays fans will have to comfort themselves in knowing that, when it comes to third-base prospect Vladimir Guerrero Jr., good things come to those who wait. ( Nathan Denette / THE CANADIAN PRESS ) Except its unlikely he will be with the Jays when they open the regular season against Detroit on March 28. The Jays might be as excited as their fans by Guerreros arrival, but the business will almost certainly come first. That could happen. There has been mild talk at the outset of spring training that the Jays may just open the season with Guerrero on the major-league roster and get on with it. But waiting a few weeks will ensure the Jays will have seven years of contract control rather than six. Article Continued Below Baseballs CBA allows teams to tailor the arrival of special players so they can gain maximum service from them before they hit free agency. Players must put in six full seasons at least 172 days of major-league service time annually before they can test the market. If a player accrues 171 days or less, he is not credited for a full year. The 2019 major-league season is scheduled to run 186 days. So if the Jays keep Guerrero in the minors for the first 15 days of the season, he wont be able to accumulate enough days for a full year. The belief is that the earliest he will be called up is April 12, during a home series against Tampa Bay. Its probably already been a factor. Super Two is a designation that opens the door for a select group of players to achieve arbitration eligibility a year earlier than most. The majority of players must wait three years before they are eligible. But those who are among the top 22 per cent in service time among the group with two to three years of service can qualify a year earlier, ending up with four years in which they can go to arbitration instead of three. Former Jays third baseman Josh Donaldson reached Super 2 status in 2015. He lost his arbitration case that year and signed a two-year extension the next. In 2018, in his fourth year of eligibility, he signed a one-year, $23-million deal with Toronto, then a record for an arbitration-eligible player. Article Continued Below Some teams will refrain from summoning young stars so they can control the number of service days and the clock on arbitration eligibility. The Jays were criticized by the MLB Players Association when they didnt include Guerrero in September roster expansion last year and sent him to the fall league instead. The players union said the decision was bad for fans, bad for the player, and bad for the industry. The Jays claimed their focus was on Guerreros development, not any manipulation of the collective bargaining agreement. Other teams have flirted with the 172-day window in dealing with top prospects. Washington promoted outfielder Bryce Harper with 159 days left in 2012; Atlanta did the same with outfielder Ronald Acuna last year. The Cubs called up Kris Bryant with 171 days to go in 2015, sparking a grievance from the union. All three players went on to win the National League rookie of the year award. Its unlikely he has hit everywhere he has played in the minors, including a 30-game stint with the Bisons last season (.336, six homers, 16 RBIs) but its possible. Toronto seems certain to begin April without Guerrero Jays GM Ross Atkins has already said that having Brandon Drury at third base is the most likely scenario when the season opens but he should be with the big-league team before the month is out. It could be April 12 in Toronto, or during the following road trip to Minnesota and Oakland, or the homestand that runs to April 29. One thing is certain: the countdown to Guerrero is on. Mark Zwolinski is a sports reporter based in Toronto. Follow him on Twitter: @markzwol | https://www.thestar.com/sports/bluejays/2019/02/14/how-much-longer-will-blue-jays-fans-have-to-wait-for-vladimir-guerrero-jr.html |
Could Albemarle Corporation Be a Millionaire Maker Stock? | Albemarle Corporation (NYSE: ALB) is one of the largest producers of lithium in the world. The metal is a vital component in high-tech batteries, like the ones that are increasingly finding their way into electric vehicles. That said, lithium is a commodity subject to often unpredictable investor sentiment. That's been very bad news of late, but if long-term demand expectations play out as hoped Albemarle could still turn out to be a millionaire-maker stock. Ups and downs Albemarle's stock rose a dramatic 48% in 2017 as lithium prices moved higher through most of the year. Investors were excited by the metal's importance in making batteries for electric vehicles. With every major automaker working to build electric vehicles, this market is expected to explode. The hype and excitement around it was at a peak in 2017, and led to a huge run-up in anything related to lithium, including Albemarle's share price. An electric car charging device More Image source: Getty Images The stock then turned around and fell 40% in 2018 as lithium prices moved steadily lower through most of that year. The big catalyst was a shift in investor sentiment, not any material change in the electric vehicle market or Albemarle's business; in fact, Albemarle's 2018 fundamentals remained pretty solid. Although it won't reported full-year 2018 results until late February, through the first nine months of 2018 revenue was up 10% year over year, with adjusted earnings, which removed one-time items, advancing 21%. For reference, weak lithium prices were more than offset by volume expansion in the lithium operation. The company also reported solid results at its other divisions (more on this below). It's pretty clear that Albemarle is being driven by the lithium story more than business fundamentals. The stock isn't appropriate for risk-averse investors -- the big commodity price-driven price swing is clear evidence of this. However, there are a number of reasons why more aggressive investors might want to step aboard what could be a millionaire-maker stock. The long play For starters, the company doesn't just mine for lithium. It has two other divisions as well: One makes bromine, a flame retardant used in electronics and other areas, and the other makes catalysts, primarily for the energy industry. These two divisions aren't small -- combined, they account for roughly 60% of Albemarle's revenue. Both have been performing pretty well lately, but the big picture here is that the company is using these operations as the financial foundation from which to expand in lithium. Albemarle isn't a one-trick pony that will live and die based on the volatile price of just one commodity. It has a diversified business to see its plans through. To be fair, CEO Luke Kissam has stated that the company might eventually sell its other operations and become a pure-play lithium company. But that's not the situation today, and the bromine and catalyst operations help to offset the risk of the lithium expansion process and the market's on again/off again romance with the industrial metal. Moreover, if the company does decide to dispose of these two divisions, the move will likely result in a cash infusion that will shore up Albemarle's balance sheet, which would be a net positive even if asset sales reduce diversification. | https://news.yahoo.com/could-albemarle-corporation-millionaire-maker-220400482.html |
What Does Rocker Dion Think About Robert Kennedy, Paul Simon And The Sgt. Pepper's LP? | In Part 1, Part 2 and Part 3 of this interview series, rocker Dion DiMucci discussed the fateful 1959 plane crash which killed Buddy Holly, The Big Bopper and Ritchie Valens, his affection for crooner Del Shannon, who "The Wanderer" and "Runaround Sue" are in real life and the British Invasion. Here, Dion play word association with a number of people and topics. Lip Syncing: Its not for me. But in the day, youd go on the Dick Clark Show and thats the way it was done. The Beatles Sgt. Pepper's Lonely Hearts Club Band album cover he's on: I feel honored. Bob Dylan and myself are the only American artists on it. I usually joke: "If you want to sell a lot of albums, put my face on it" [laughs]. Ed Sullivan Show: I wish I had had more courage. I would have sung, Runaround Sue and The Wanderer on that show, and didnt. I listened to people who wanted to get me into the Copacabana, and did some songs that were far out of my wheelhouse. I sang, Lover Come Back to Me with a big band and, It Ain't Necessarily So. I didnt look like Little Richard or Bo Diddly, and you needed that to get into the Copa. They wanted me to go the Bobby Darin route. I was insecure, what can I say. Robert Kennedy: He was reaching for higher ground, trying to shine a light, change things for the better. Paul Simon: While Paul Simon is revered, I dont think people get how deep he is. I love the guy. He comes from that early street-harmony, first-generation type of rock and rollers. He gets it. Thats a part of his foundation. So we get along in those sounds. I love his poetry and his albums "Rhythm of the Saints" and "Graceland." I think Paul introduced America to international, universal music and rhythms before anybody else. As for Simon and Garfunkel, I love their sound. "Sound of Silence" is a great song and can be done a lot of different ways. The party where he wrote "Runaround Sue": When I was at that party, we were banging on cardboard boxes and bottles. I gave the guys a riff to sing, which would be the background to "Runaround Sue": hape hape, bum da haiti haiti, hape hape, bum da haiti haiti. We sang it for 45 minutes, and I thought, 'Man this is freaking great, throwing out words and melodies.' I put this thing together in the following couple of weeks with Ernie Maresca, and went down to the studio to record it. Then I brought the record to the neighborhood to play for all of the party people, and they said, "Ah, you screwed the whole thing up" [laughs]. They didnt like the formal version. They thought it was better-sounding the night we did it at the party. You can get a number 1 record, and they still thought the party was better. The Applebees TV commercial featuring "Runaround Sue": I'm going to the early-bird - and they're paying [laughs]. [Editor's Note: In future installments, Dion will discuss how he kicked his heroin habit, his Rock and Roll Hall of Fame induction in 1989 and his new play, among other things. Stay tuned to the Forbes channel.] | https://www.forbes.com/sites/jimclash/2019/02/16/what-does-rocker-dion-think-about-robert-kennedy-paul-simon-and-the-sgt-peppers-lp/ |
Can CenturyLink Sustain Its New Dividend After Full-Year 2018 Results? | Shares of internet service provider CenturyLink (NYSE: CTL) are plumbing fresh lows after reporting a solid conclusion to 2018 and slow but steadily improving profitability. The real news, though, was the surprising -- but also not-so-surprising -- announcement that the annual dividend is being cut from $2.16 per share to $1.00 per share. While the previous yield was a ridiculous 14%, management had indicated it was on solid footing. The new yield is still a generous 7.7% as of this writing, and CenturyLink has new plans for that cash going forward. The short answer is yes, but there are question marks surrounding the why. First, a review of 2018 After CenturyLink's takeover of Level 3 Communications in 2017, investors may have been hoping for better sales results. That didn't transpire this year as the telecom's legacy services continue to slide. The good news, though, is that the company completed its cost-cutting initiatives post-Level 3 merger a couple of years ahead of schedule, providing a big boost to free cash flow (money left over after basic operations and capital expenditures are paid for). Metric Full-Year 2018 Adjusted Full-Year 2017* Change (YOY) Revenue $23.44 billion $24.13 billion (3%) Cost of services and products $10.86 billion $11.50 billion (6%) SG&A expenses $4.17 billion $4.72 billion (12%) Capital expenditures $3.18 billion $4.23 billion (25%) Free cash flow $3.86 billion $1.57 billion 146% Total dividends paid $2.31 billion $1.45 billion 59% Data source: CenturyLink. *Adjustments to account for the Level 3 acquisition. YOY = year over year. Because of the aggressive cost-cutting associated with the integration of Level 3, CenturyLink's tenuous-looking dividend actually seemed like a safe bet -- even though total dividends paid out ballooned because of the extra shares CenturyLink issued to help pay for the acquisition. The dividend payout ate up about 60% of free cash flow last year. Management said it expects free cash flow to drop to between $3.1 billion to $3.4 billion in 2019, in large part due to increased capital expenditures (purchase of property and equipment) of $3.5 to $3.8 billion -- thus the surprise from some investors that the payout got a haircut, as the $2.16 per share a year would have put dividends paid at roughly $2.3 billion in total: still well within the free-cash-flow guidance. With the payday dropping to just $1.00 a share and $1.08 billion in total consideration, the payout ratio to cash flow will be around 30%. Long story short, the new dividend yield is easily sustainable assuming nothing drastically deviates from CenturyLink's expectations. The back of an internet modem with an ethernet connection cable plugged into it More Image source: Getty Images. David Barden, an analyst at Bank of America, asked for more details on the earnings call: | https://news.yahoo.com/centurylink-sustain-dividend-full-2018-000800527.html |
Has Meghan's accent changed since marrying Prince Harry? | It might not be full Cockney Rhyming Slang, but some say the duchess is sounding more British A lot has been written about the Duchess of Sussex in recent months, from speculation on her relationships with other members of the Royal Family to endless discussion of how much she cradles her baby bump. Now even her accent has become a topic of debate. Some speech experts say they can hear a change, but others are not convinced. "There does seem to be something in the idea that Meghan Markle's speech has changed a bit, at least in some settings," said phonetics and pronunciation specialist Dr Geoff Lindsey. "There are occasional vowels which sound a bit more British," he said, while conceding it was tricky to make absolute statements. One example is her more British pronunciation of the word "all" when she met crowds in Cheshire in June 2018, compared to her pronunciation of the same word in her and Prince Harry's engagement interview in 2017, he said. But "the differences are subtle," said Dr Lindsey. And Dr Lindsey, an honorary linguistics lecturer at University College London, added that her intonation is more British than American when asking the yes/no question: "Did you make that for us?" in a clip from Birkenhead in January 2019. Marisa Brook, assistant professor in linguistics at the University of Toronto, said the duchess has "developed a style that sounds very English-aristocratic for interacting with the public". Among the examples she highlighted was the duchess saying "I do appreciate that" in the same clip from Birkenhead (above) in January 2019. "The vowel in 'that' is further back in the mouth than you would expect for American English," said Ms Brook, suggesting it could be a consequence of living in southern England. Ms Brook, who has studied accent changes in high-profile figures, said: "I think a lot of it is deliberate on her part. "She's developed a style to be used when directly talking with the British public. "These are the situations where people might be judging her in public instantly, where it really benefits her to sound British and aristocratic." Image copyright PA Image caption "I wouldn't be surprised if the duchess had had some coaching," Ms Brook added "If it's conscious, I don't think it makes her manipulative, or a poser or anything," said Ms Brook, who attributes any change to the duchess's "unique position". "She's someone who's very off-beat from those who usually join the Royal Family - it makes a lot of sense. It's not that she is changing who she is. "It's like she's changing how she dresses - it's like an extremely fancy outfit. "I would call it a reasonable resource for her to draw on, given how unlikely her change in circumstances - and how dramatic." 'Weird if she spoke like the Queen' Phonetics professor Jane Setter, from the University of Reading, agrees there is some difference in the duchess's vowel pronunciation in public since her move to the UK, but "it's not huge". Professor Setter said the crowds "will make a difference" because of something called accommodation, which is when people adapt their speech - consciously or unconsciously - to the people they are talking to. Image copyright Getty Images Image caption Accommodation "is a social thing, showing a willingness to move closer to a speaker," says Professor Setter "We all do this to some extent - speak differently with different people," said Professor Setter. "In a social role like the one Meghan is now in, where she has to meet lots of people and basically make a good impression on them in a short space of time, the ability to do this is very useful. "But it would be weird to take this too far. I don't think British people would accept her if she suddenly started sounding like she was in the cast of EastEnders - or spoke like the Queen. "She is who she is and it's important that she is genuine. Speech is part of that." Accents can reflect various things about people, said sociolinguist Dr Ella Jeffries, from the University of Essex - not only our background, but also our affiliations and aspirations. And for someone like the duchess, whose success may depend on trying to fit in, accent changes can happen naturally and fast. "Lots of different factors play a role in who accommodates, how they accommodate and why," said Dr Jeffries. "Someone who has a strong affiliation with the region they grew up in and is very proud of their heritage for example, might not change the way they speak much - even if they move to another part of the country, or even abroad. "However, someone with lots at stake in trying to 'fit in' or sound like they belong to a new in-group - British royalty, in the case of Meghan - might find accommodation happens quite naturally and quite quickly." "Certainly any potential accent coaching she has had will have made her more aware of the differences - and potentially better at mimicking them," said Dr Jeffries. "But on the other hand, maybe she therefore has better control of her accent than others and if she decides she wants to, might stay staunchly American sounding." But overall, Dr Jeffries said she did not hear much evidence of the duchess sounding more British. And Professor Paul Kerswill, a sociolinguist from the University of York, is even less convinced, saying "there really isn't much to go on". "Meghan is pretty consistent in her accent... whether acting a 'FedEx girl' in 2011, or a lawyer in Suits the same year," he said. "In the interview with Harry, the same thing applies: the only point where I felt there was some Received Pronunciation creeping in was in the word 'roasting', where the vowel is central and not back." Interestingly, he added that the duchess's clothing could be a reason for any perceived accent change. "It's been proved that appearance, ethnicity and age all influence what we think we hear, even when there's no difference in what is being played back in the audio," said Professor Kerswill. Meghan's accent: Examples of American English vs Standard British Vowels In American English, "all" is pronounced more like "ol" whereas Britons pronounce the word "orl". The duchess uses the more British "orl" when saying "Yes, we all had a good day I think," says Dr Jeffries. Consonants In words ending with "t", American speakers typically sound the final "t" more weakly. Speakers of standard British English explode the "t" - which means pronouncing it strongly, like at the beginning of a word. The duchess seems to do this, says Dr Lindsey, when she says "sweet" here and here. ", Americans typically just use a rise in intonation, whereas in British English the pitch falls and then rises. Dr Lindsey says the duchess adopts the British style when she says: "Did you make that for us?" | https://www.bbc.co.uk/news/uk-47148541 |
How smart are Gmails smart replies? | The philosopher Jeremy Bentham was famed for his panopticon, a hypothetical circular prison that was designed in such a way that its inmates never knew whether or not they were being observed. This would, his theory went, encourage prisoners to presume they were always being watched, and thus act accordingly. No true version of the prison was ever really built, and the word itself only now lives on due to its prodigious utility within breathless op-eds about surveillance culture, mostly written by people whove already overused references to Orwell and Kafka. The genius of todays boring dystopia has been to offer this surveillance as a feature, not a bug; to cast that all-seeing-eye not as a malevolent shadowy jailer, but as the worlds most boring personal assistant. Nowhere is this truer than with Gmail smart replies, the pocket panopticon that now resides in every inbox. Not only can it see what youve already read and written, it has some great ideas on how to make your next contribution, too. Seeking answers, I stopped resisting and spent an entire week surrendering to its every whim. Its odd that Gmail smart replies have only been around since 2017, since theyre the kind of subtly ever-present tool that now seems always to have been there. Odder still, it feels this way despite the fact I had never used it before. My memory of seeing, and ignoring, the little options below my emails was that they seemed generally accurate, but also glib and oddly worded. More importantly, they seemed written in a tone that I have never used in my entire life, one of indeterminate, cheery abandon that would surely present as false were I to ever use it myself. But God has his reasons and I endeavoured to discern them for myself. Opening my inbox I found an email from my wife telling me she had booked a restaurant and hoped I thought it would be as great as she did. Below it lay three unassuming rectangles poised for my selection: OK, thanks! Yes, I agree! I dont think so. Opting for OK, thanks! I began my smart reply odyssey and a descent into what quickly became the worlds most boring Choose Your Own Adventure game. Starting off, I had thought the main issue would be accuracy. I worried Id be forced to make wildly inappropriate remarks to longstanding friends and colleagues, like the hapless idiot in an American sitcom, receiving ear-piece instructions to get him through a date with the hottest girl in school. You know the scene: hes doing great for a while, but eventually comes a cropper when his Bergerac is hit in the crotch by a wheelie bin, or a nest of wasps, which causes our hero to repeat his every swear word verbatim. This, I feared, could be my fate; glibly responding to emails announcing the death of a family friend with blandly inappropriate corporate speak like Outstanding! or Can we change this to Friday? It turned out I shouldnt have worried, as the replies were almost universally, even unnervingly, appropriate to the topic. My week was merely a never-ending spree of palatable options that were terrifyingly bland. The major stumbling block to my ever having used smart replies before was tone. Smart replies always gave me a sense of alien weirdness, so much so that when I did begin seeing them, Id go out of my way to make sure the wording I did use in my reply was nothing like those suggested. It was as if I was spiting this assistant out of fear Id be revealed as a Big Data techno-stooge. Its not just that the replies are curt and impersonal, theyre also so chipper as to sound demented. I have a reputation to uphold, and its not as a perky yes man. Nowhere was this more apparent than with my friend Al, who was good enough to email me a particularly chucklesome video hed found on YouTube. To my horror, my only options by way of reply were: Love It! Thanks, Ill check it out! Hahaha thats awesome! Since it was, at least superficially, closest to the feeling engendered by the video, I went for Hahaha thats awesome! making it, I think, the first time Ive ever used that latter adjective in my entire life. One thing that struck me was how Gmail had worked out that the video itself was funny. I mean, it was funny it was a wedding band from the Irish midlands who appeared to have made a music video for roughly the price of a Quavers multi-pack but thats not the point. The fact is, this wasnt stated anywhere in the email itself. This wasnt stated anywhere in the email itself The other big take away, and one that speaks to my larger point, is the rather poorer job it had done of approximating my own speech. It knew enough to suggest it was funny, but not enough to stop me from sounding like a hyperbolic youth pastor on bad speed. This was to be a constant theme in my week of robo-replying, the sense that Gmail wasnt just reading, but remodelling me in its own ghastly image. An exclamation mark, wrote F Scott Fitzgerald, is like laughing at your own joke. God knows, then, what he would have made of my output this week alone. Yes!, Great, thanks!, Will do!, Got that!, See you then!, Of course! Now I was laughing at my own joke a dozen times a day like some half-mad cyborg, rendered dizzily incontinent by even the mildest exchange of words. Google, it turns out, splits its sides for emails confirming dental appointments or lunch dates. Somewhere in the beeping digital ether, the hive-mind wipes hot tears from a dead digital eye, weeping with laughter at the thought of a Thursday lunch meeting. My emails suddenly presented me as a giddy type, pummelled into hysterics each time an attachment was received as stated. Running on the spot and punching the air at the thought of buying new bin attachments from Hackney council by the weekend. Google made a big point of claiming smart replies respond not to your own style of writing, but to a generalised neural network of everyones responses to similar cases. This was, I presume, intended to placate those who felt the opposite was too creepy, but I began to find it unnerving, too. After a week I started to accept this was not Googles idea of who I was, but their conception of some new, better me they felt I should become. No more Samas the recalcitrant Scrooge, indifferent to the ecstasy of being asked, for a sixth time, if I was attending a social function. Step forward my new, better self, one who screams: Yes, Ill be there thanks! with something like the manic ebullience of someone hoping to deter you from entering the bathroom theyre in. If it were just the case that smart replies made me gormless and weird, that would be one thing, but there were other, unexpected hurdles. One email I received was from an event organiser addressing an overdue payment for a talk Id given. I like this person and readily understood it wasnt their fault, so was only too happy to offer my polite thanks for the update. But I was then surprised to find I had no choice either way. In response to being asked if it wasnt too much hassle for me to be paid at the end of the month, my options were: Thats fine, thanks! Of course! Nope, thats fine! Rather like the child who wakes up with bold plans to clean his room, only to have this new regime interrupted by a parent demanding they tidy up, Google had removed any choice in the matter and, in the process, made me resent options I may well have embraced on my own. Gritting my teeth, I selected: Thats fine, thanks! and reflected on the fact that Googles responses to my non-payment ran only from moderately cheerful to fizzily delighted. Whatever the case, I was beginning to chafe against my Big Data overlords and felt ready to call it a day. Following a week of emails in this vein, I was looking forward to reverting to normal and letting a few of my more common recipients in on the gag. When I did, I was horrified to discover no one had noticed a thing. Not even Al, whod seen me use the word awesome! and hadnt raised an eyebrow. I found myself offended that the ruse I had pulled on unsuspecting friends had worked so well, forced to reckon with the fact that my sense of individuality was, clearly, somewhat overrated. The blandness of Gmails smart replies had been their camouflage, the processing power of 10m moon landings, disguised in a sea of inane pleasantries and errant exclamation marks. Worse still, I cant stop scanning messages I receive, detecting the hidden, mechanical hand of Uncle Google in every misplaced Americanism, or brisk and jaunty phrase. I no longer know which of my friends, colleagues, or bin collection services Im even really talking to any more. A week inside the machine has changed all that. We must, as always, be careful gazing long into the abyss, because the abyss gazes back. And Thats fine! | https://www.theguardian.com/technology/2019/feb/17/gmail-smart-replies-seamas-o-reilly |
Is the era of artificial speech translation upon us? | Once the stuff of science fiction, technology that enables people to talk using different languages is now here. Noise, Alex Waibel tells me, is one of the major challenges that artificial speech translation has to meet. A device may be able to recognise speech in a laboratory, or a meeting room, but will struggle to cope with the kind of background noise I can hear surrounding Professor Waibel as he speaks to me from Kyoto station. Im struggling to follow him in English, on a scratchy line that reminds me we are nearly 10,000km apart and that distance is still an obstacle to communication even if youre speaking the same language. We havent reached the future yet. If we had, Waibel would have been able to speak in his native German and I would have been able to hear his words in English. He would also be able to converse hands-free and seamlessly with the Japanese people around him, with all parties speaking their native language. At Karlsruhe Institute of Technology, where he is a professor of computer science, Waibel and his colleagues already give lectures in German that their students can follow in English via an electronic translator. The system generates text that students can read on their laptops or phones, so the process is somewhat akin to subtitling. It helps that lecturers speak clearly, dont have to compete with background chatter, and say much the same thing each year. The idea of artificial speech translation has been around for a long time. Waibel, who is also a professor of computer science at Carnegie Mellon University in Pittsburgh, sort of invented it. I proposed it at MIT [Massachusetts Institute of Technology] in 1978. Douglas Adams sort of invented it around the same time too. The Hitchhikers Guide to the Galaxy featured a life form called the Babel fish which, when placed in the ear, enabled a listener to understand any language in the universe. It came to represent one of those devices that technology enthusiasts dream of long before they become practically realisable, like portable voice communicators and TVs flat enough to hang on walls: a thing that ought to exist, and so one day surely will. Waibels first speech translation system, assembled in 1991, had a 500-word vocabulary, ran on large work stations and took several minutes to process what it heard. It wasnt ready for prime time, he acknowledges. Now devices that look like prototype Babel fish have started to appear, riding a wave of advances in artificial translation and voice recognition. Google has incorporated a translation feature into its Pixel earbuds, using Google Translate, which can also deliver voice translation via its smartphone app. Skype has a Translator feature that handles speech in 10 languages. A number of smaller outfits, such as Waverly Labs, a Brooklyn-based startup, have developed earpiece translators. Reviews in the tech media could reasonably be summarised as not bad, actually. The systems currently available offer proof of the concept, but at this stage they seem to be regarded as eye-catching novelties rather than steps towards what Waibel calls making a language-transparent society. One of the main developments driving artificial speech translation is the vogue for encouraging people to talk to their technology. Were generally very early in the paradigm of voice-enabled devices, says Barak Turovsky, Google Translates director of product, but its growing very rapidly, and translation will be one of the key parts of this journey. Last month, Google introduced interpreter mode for its home devices. Saying: Hey, Google, be my French interpreter will activate spoken and, on smart displays, text translation. Google suggests hotel check-in as a possible application perhaps the obvious example of a practical alternative to speaking travellers English, either as a native or as an additional language. You can do this already if you have the Translate app on your phone, albeit using an awkwardly small screen and speaker. That kind of simple public interaction accounts for much usage of the apps conversations feature. But another popular application is what Turovsky calls romance. Data logs reveal the popularity of statements such as I love you and You have beautiful eyes. Much of this may not represent anything very new. After all, chat-up lines have been standard phrasebook content for decades. Waverly Labs used the chat-up function as a hook for its Indiegogo funding drive, with a video in which the companys founder and CEO, Andrew Ochoa, relates how he got the idea for a translator when he met a French woman on holiday but couldnt communicate with her very well. Trying to use a translation app was horrible. Phones get in the way but earpieces are not in your face. The video shows what might have been: he presents a French woman with an earpiece, and off they go for coffee and sightseeing. The pitch was spectacularly successful, raising $4.4m (3.4m) 30 times the target. Facebook Twitter Pinterest Waverly Labs Pilot earpiece (red and white) and Googles Pixel earbuds (black). Photograph: Observer Design desk One customer said the companys Pilot earpiece had enabled him to speak to his girlfriends mother for the first time. Some even report that it has enabled them to speak to their spouses. Every once in a while, well receive an email from someone who says theyre using this to speak with their Spanish-speaking wife, says Ochoa. It baffles me how they even got together in the first place! We might surmise that it was through the internet and an agency. Ochoa acknowledges that the technology has to improve a bit before youll really be able to find love through the earbud, but its not too far away. Many of the early adopters put the Pilot earpiece to entirely unromantic uses, acquiring it for use in organisations. Waverly is now preparing a new model for professional applications, which entails performance improvements in speech recognition, translation accuracy and the time it takes to deliver the translated speech. Professionals are less inclined to be patient in a conversation, Ochoa observes. The new version will also feature hygienic design improvements, to overcome the Pilots least appealing feature. For a conversation, both speakers need to have Pilots in their ears. We find that theres a barrier with sharing one of the earphones with a stranger, says Ochoa. That cant have been totally unexpected. The problem would be solved if earpiece translators became sufficiently prevalent that strangers would be likely to already have their own in their ears. Whether that happens, and how quickly, will probably depend not so much on the earpieces themselves, but on the prevalence of voice-controlled devices and artificial translation in general. Here, the main driver appears to be access to emerging Asian markets. Google reckons that 50% of the internets content is in English, but only 20% of the worlds population speak the language. If you look at areas where there is a lot of growth in internet usage, like Asian countries, most of them dont know English at all, says Turovsky. So in that regard, breaking language barriers is an important goal for everyone and obviously for Google. Thats why Google is investing so many resources into translation systems. Waibel also highlights the significance of Asia, noting that voice translation has really taken off in Japan and China. Theres still a long way to go, though. Translation needs to be simultaneous, like the translators voice speaking over the foreign politician on the TV, rather than in packets that oblige speakers to pause after every few remarks and wait for the translation to be delivered. It needs to work offline, for situations where internet access isnt possible and to address concerns about the amount of private speech data accumulating in the cloud, having been sent to servers for processing. Systems not only need to cope with physical challenges such as noise, Waibel suggests, they will also need to be socially aware to know their manners, and to address people appropriately. When I first emailed him, aware that he is a German professor and that continental traditions demand solemn respect for academic status, I erred on the side of formality and addressed him as Dear Prof Waibel. As I expected, he replied in international English mode: Hi Marek. Etiquette-sensitive artificial translators could relieve people of the need to be aware of differing cultural norms. They would facilitate interaction while reducing understanding. At the same time, they might help to preserve local customs, slowing the spread of habits associated with international English, such as its readiness to get on first-name terms. Professors and other professionals will not outsource language awareness to software, though. If the technology matures into seamless, ubiquitous artificial speech translation Babel fish, in short it will actually add value to language skills. Automated translation will deliver a commodity product: basic, practical, low-prestige information that helps people buy things or find their way around. Whether it will help people conduct their family lives or romantic relationships is open to question though one noteworthy possibility is that it could overcome the language barriers that often arise between generations after migration, leaving children and their grandparents without a shared language. Whatever uses it is put to, though, it will never be as good as the real thing. Even if voice-morphing technology simulates the speakers voice, their lip movements wont match, and they will look like they are in a dubbed movie. The contrast will underline the value of shared languages, and the value of learning them. Making the effort to learn someones language is a sign of commitment, and therefore of trustworthiness. Sharing a language can also promote a sense of belonging and community, as with the international scientists who use English as a lingua franca, where their predecessors used Latin. Immigrant shopkeepers who learn their customers language are not just making sales easier; they are showing that they wish to draw closer to their customers community, and politely asserting a place in it. When machine translation becomes a ubiquitous commodity product, human language skills will command a premium. The person who has a language in their head will always have the advantage over somebody who relies on a device, in the same way that somebody with a head for figures has the advantage over somebody who has to reach for a calculator. Though the practical need for a lingua franca will diminish, the social value of sharing one will persist. And software will never be a substitute for the subtle but vital understanding that comes with knowledge of a language. That knowledge will always be needed to pick the nuances from the noise. Marek Kohns Four Words for Friend: Why Using More Than One Language Matters Now More Than Ever is published by Yale University Press (20). To order a copy go to guardianbookshop.com or call 0330 333 6846. Free UK p&p over 15, online orders only. Phone orders min p&p of 1.99 | https://www.theguardian.com/technology/2019/feb/17/is-the-era-of-artificial-speech-translation-upon-us |
Did Henry VI have a sex coach in his marriage bed? | The medieval monarch and his queen, Margaret of Anjou, were not alone at night, historian Lauren Johnson reveals For more than eight years, Henry VI and his queen struggled to produce an heir. Now it has emerged that the couple were not alone in their endeavours in the royal bedchamber. The historian Lauren Johnson has unearthed evidence showing that when Margaret of Anjou visited her husbands bedroom for marital relations, they were sometimes joined by trusted courtiers. I think its entirely possible that it had reached a certain point where it perhaps became necessary to make clear to him what he should be doing. That couldnt be done in a public way at all. The other side of Henry VIII Read more Royal marriages were once consummated with bedding ceremonies, in which newlyweds were put into the marital bed by their guests on their marriage night. The earliest English record dates back to Henry V in the 1420s, when ceremonies involved the wine cup and the blessing of the bed. Johnson said: While royal ceremonies could involve public blessings and perhaps processions to the bedchamber on the wedding night, after that point no one was in the royal bedchamber when the king and queen were having their marital relations. She added that what Henry VI and Margaret experienced was different: This was not just their wedding night. Its an ongoing thing. Johnson found documentary evidence in the National Archives and royal household accounts, among other sources. The Ryalle Boke of court protocol, for example, records that once the king was in bed, the kings chamberlain or a squire for the body [should] come for the queen, and with her two gentlewomen and an usher. Another witness, describing when the Kinge and the Quene lie together, noted his chamberlain lay in the same chamber. Johnson suggests that it may have been the Duke of Suffolk, chamberlain of England, or Ralph Botiller, chamberlain of the household. Johnson observes: The Ryalle Boke does not make it clear at what point they left, leaving open the intriguing suggestion that they remained to make sure the marriage bed was being properly used. She recalled that, in reading the documentary evidence, her eyes and ears pricked up: The evidence that there are people staying in the kings bedroom potentially some years after he is married is very odd. Complaints about royal sterility undermined Henrys masculinity and even his authority. Lauren Johnson This is among discoveries that will feature in her book, Shadow King: The Life and Death of Henry VI, to be published by Head of Zeus next month. Johnson writes: The reign of Henry VI is rightly remembered as a nadir in national history and the kings shadow fell across his realms for years after he was deposed. This was the age of Englands defeat in the hundred years war and the Wars of the Roses. Conflict was to be Henrys principal legacy. Yet Henry himself, the child king who became a martyred holy man, was no tyrant. He loved peace before war. He treated his wife and child with affectionate respect. Henry VIs enemies smeared him as weak for taking so long to produce an heir, and spread rumours that the couples eventual only child, Edward, was a changeling or bastard. Johnsons research has also led her to believe that, part of the reason Margaret and Henry took so long to conceive was that the queen had an eating disorder. She points to a 1467 document that records Margaret fasting four or five times a week during her marriage and enduring weak health ironically, probably to fulfil religious vows in the hope of getting pregnant, Johnson suggests. She writes that lack of an heir led to concern over the succession: As the first duty of a queen was to bear children, this had a serious impact on her popularity. Infertility was usually blamed on women, but complaints about royal sterility undermined Henrys masculinity and his authority. | https://www.theguardian.com/books/2019/feb/17/henry-vi-medieval-mystery-margaret-of-anjou-marriage-bed-historian-lauren-johnson |
Is It Time We Blamed Social Security's Cash Crunch on Low Birth Rates? | Social Security is our nation's most important social program. It's responsible for providing benefits to nearly 63 million people each month, more than 22 million of whom are kept out of poverty as a result of their benefit checks. But Social Security is inching toward big trouble. Social Security's $13.2 trillion dilemma Although nothing is for certain, the 2018 report from the Social Security Board of Trustees portends a big shift on the horizon for the program. Namely, it's nearing an inflection point that'll see the program spend more money than it collects in a given year. The last time that happened was all the way back in 1982, the year before the Reagan administration passed the last major overhaul of the Social Security program. A Social Security card standing up on a table, with the name and number blurred out. More Image source: Getty Images. In plain English, it simply means that more money will start flowing out of Social Security than can be replaced via payroll tax revenue, the taxation of Social Security benefits, and the interest income earned on its close to $2.9 trillion in asset reserves. These net cash outflows can be sustainable for a bit, thanks to the program's aforementioned asset reserves, but Social Security can't withstand hemorrhaging money forever. By 2034, the Trustees report projects that this almost $2.9 trillion in excess money will be gone, paving the way for what might be a very steep cut in benefits to then-current and future beneficiaries of up to 21%. Mind you, 62% of today's retired workers lean on Social Security for at least half of their monthly income. In nominal terms, the Trustees quantified the program's long-term (75 year) cash shortfall between 2034 and 2092 at $13.2 trillion -- and this figure is growing with each passing year. In essence, if lawmakers were to raise $13.2 trillion in revenue over this defined period and/or make expenditure cuts, then no reduction in payouts would be necessary. One of the biggest points of contention regarding Social Security's cash crunch is what, exactly, is responsible. Some of the finger-pointing has gone to baby boomers, while other folks have chosen to blame increased longevity or growing income inequality. Even Congress takes the blame, but often for the incorrect reason. However, there could be a plain-as-day answer as to why Social Security's future is in doubt if you're willing to dig beneath the surface: low fertility rates. Although Social Security is occasionally viewed as a Ponzi scheme, it's nothing of the sort. It is, however, a social investment in the financial well-being of our elderly population that's funded predominantly by taxing the earnings of working-age Americans. In order for such an arrangement to succeed, birth rates have to remain relatively constant over time to ensure that retiring workers are being replaced by new workers in the labor force. A married couple cradling their newborn baby. More | https://news.yahoo.com/time-blamed-social-security-apos-110600283.html |
Does Catalan crisis threaten to make Spain 'ungovernable'? | BARCELONA, Spain (AP) The secession crisis festering in Spain's northeastern corner of Catalonia has spread to the political heart of the European Union nation. Twice in less than a year, separatist lawmakers from Catalonia have played the role of king slayer, with their votes in the national Parliament in Madrid proving the decisive push to topple consecutive governments. Catalan separatists momentarily aligned with their political nemeses this week by joining Spain's right-wing parties to kill the Socialist government's spending bill, after talks between the government and the separatists collapsed over the possibility of a referendum on secession. The failure to pass a national spending bill led Prime Minister Pedro Sanchez on Friday to call an early election for April 28. This latest blow to Spain's political stability came eight months after the same separatist Catalan lawmakers backed the Socialists in a no-confidence vote to oust the then conservative government of the Popular Party. "We made Pedro Sanchez prime minister as a result of the no-confidence vote for the exact same reasons that we have had to maintain our position (against) his budget bill," said Eduard Pujol, a leading member in Catalonia's regional legislature. "You cannot govern Spain without listening to Catalonia." Separatists forces showed their strength on Saturday when tens of thousands rallied in Barcelona to demand a non-guilty verdict for 12 of their leaders, who are on trial in Spain's Supreme Court for their roles in a failed secession attempt in 2017. Barcelona's police calculated that 200,000 people joined the march. The front line of marchers held a long banner saying in Catalan "self-determination is not a crime." While they claim that Catalonia has a right to self-determination, Spain's government says any vote on independence would require the national Parliament to amend the Constitution. Polls point to a fragmented political spectrum that will leave a future Spanish government in need of cobbling together partners for a coalition government. That means Catalonia's separatists could still hold leverage, especially if Sanchez's Socialists need their votes to stay in power. "Spain will be ungovernable as long as it doesn't confront the Catalan problem," said Catalonia's regional government spokeswoman, Elsa Artadi. But forcing a new election is risky. Spain's conservative and far-right parties the Popular Party, the center-right Citizens party, and the far-right Vox party will all focus their campaigns on taking a hard line against the separatists. The anti-Catalonia formula worked for the right-wing parties in a regional election in December when they managed to end the Socialists' 36 years in power in Spain's south. Currently a little less than 50 percent of the voters in Catalonia support parties whose goal is independence. But few doubt that a crackdown from Madrid would push more Catalans into the separatist camp. The decision to withdraw their backing from Sanchez, however, was divisive within the separatist bloc. Joan Tarda, a national parliament member and moderate separatist, lamented that Sanchez had called an election instead of trying to maintain talks with the separatists. "(Sanchez) has decided to take a gamble with a situation that can become even more difficult than it already is," Tarda said. We will be right back where we were last week with the need to negotiate." | https://www.houstonchronicle.com/news/world/article/Catalan-separatists-march-to-proclaim-innocence-13622129.php |
Is Baker Hughes, a GE Company a Buy? | Baker Hughes, a GE Company (NYSE: BHGE) is the amalgam of the Baker Hughes business with General Electric Company's (NYSE: GE) energy services division. The idea was to bring two industry-leading companies together to create an even better one, which hasn't exactly worked out as well as hoped on many levels. That said, 2018 witnessed a nice uptick on the top and bottom lines for Baker Hughes, but financially troubled GE is starting to sell its stake in the firm. The core business Baker Hughes is one of the largest energy services companies in the world. Its business spans across the upstream (drilling), midstream (pipeline), and downstream (processing) spaces, leading the company to describe itself as a "fullstream" company. It's a cutesy title, but pretty accurate. Two men talking in an energy processing plant More Image source: Getty Images. That said, when oil prices tanked in mid-2014, the entire energy services industry took a big hit. Projects that would get the green light at $100 per barrel oil were left on the drawing board as oil plummeted toward $30 per barrel. It was during this weak spell that GE and Baker Hughes agreed to get hitched in late 2016 (oil prices started to move up off their lows early that year). The deal was finally consummated in mid 2017, meaning the energy industry was actually starting to strengthen by the time Baker Hughes existed in its current form. However, the merger wasn't as smooth as hoped, with some industry watchers suggesting there was a culture clash that led to weak results and lost market share. Whatever the background, 2017 was another year of red ink for Baker Hughes. It wasn't until 2018 when the company started to show both revenue growth and profitability, swinging to $0.46 per share in earnings (up from a loss of $0.24 per share in 2017). Notably, the company finished the year with a bang, racking up its highest order total in three years, according to management. That's a good sign, with CEO Lorenzo Simonelli getting behind the effort by visiting in person with important customers. Although Baker Hughes acknowledges that the energy services industry can be volatile, it looks like the company is starting to get a handle on the combined business and steer it in the right direction. In fact, management believes it is finally moving beyond the early integration phase and can start to reap the benefits of its new scale and reach. There are still a lot moving parts, but if you're looking for a broadly diversified energy services company, the Baker Hughes story is starting to sound increasingly compelling. Except for one small detail... The outside force As if on cue for the business upturn, General Electric has decided that it wants to sell its stake in Baker Hughes. During the fourth quarter, the two companies worked out some of the technical details of Baker Hughes standing on its own, including how the two companies would work together in the future. But the really big issue is that General Electric is looking to take its ownership stake from 62.5% to, presumably, nothing at some point in the near future. The fourth quarter saw the first big move, here, with GE's stock sales bringing its stake in Baker Hughes down to 50.4%. | https://news.yahoo.com/baker-hughes-ge-company-buy-120400395.html |
Why did I see smoke in my car after a collision? | I was recently involved in a head-on collision in my 2015 Honda CR-V. On impact, my seatbelts locked and I heard hissing. Looking over my left shoulder from the driver seat position there was smoke filling the car. My airbags did not deploy. The mechanic told me later that my car was warning me and the airbag was a millisecond from deployment. But that makes no sense. Why would the smoke come out if it didnt deploy. Jileen Im hoping that you just misunderstood the warning comment, as I have to believe a properly qualified technician would never suggest something so absurd. The absence of front airbag deployment indicates that the severity of the collision was not that extreme. Seat belt pretensioners are part of your vehicles complete air bag supplemental restraint system (SRS). As the accident occurred, these mechanisms employed a contained explosive charge, which moved a hidden ram and tightened and locked your seat belt. The smoke you saw was the aftermath of the pretensioner doing its job. Story continues below advertisement Im sure you were preoccupied immediately after the accident and did not notice, but your vehicle will now have its SRS warning light illuminated. Most insurance claims inspectors know to look for this when they are doing their repair estimate and will include the appropriate pretensioner repair. Call your insurance adjuster if any warning lights are illuminated after you get it back. Unfortunately, I overfilled my cars engine oil and used it to go to work and back for two days. The car still runs alright, but I can hear lately some extra small noises coming from engine when working. I will not use it any more and try to drain some oil out with a dipstick tube. Ioana If you overfilled the oil level to the point where it has reached the height of the engines rotating crankshaft, it will splash the oil, causing it to aerate, leading to eventual engine damage. As the crankshaft rotates through the oil, it will also throw it upward, toward the bottom of the pistons. The pistons rings will quickly be saturated and overwhelmed, allowing oil to migrate into the combustion chamber and be burned, resulting in heavy smoke from the tailpipe. Ceasing to drive the car was the right move. Now get out there and drain the oil to the correct level. There is nothing additional that a garage can do to save it, if it is indeed too late. However, if it was not smoking when you last drove it, this suggests that the engine may not have sustained any damage. My fingers are crossed for you. Lou Trottier is owner-operator of All About Imports in Mississauga. E-mail [email protected], placing Lous Garage in the subject line. Check out the new Globe Drive Build and Price Tool to see the latest discounts, rebates and rates on new cars, trucks and SUVs. Click here to get your price. Stay on top of all our Drive stories. We have a Drive newsletter covering car reviews, innovative new cars and the ups and downs of everyday driving. Sign up for the weekly Drive newsletter, delivered to your inbox for free. Follow us on Instagram, @globedrive. | https://www.theglobeandmail.com/drive/technology/article-why-did-i-see-smoke-in-my-car-after-a-collision/ |
Will the Lakers make the NBA Playoffs? | By Daniel Tran The Los Angeles Lakers are hovering around .500 entering the second half of the season, and they need to drastically improve to earn a spot in the 2019 NBA Playoffs. Many feel that with LeBron James, combined with the mix of veteran and young talent on the team, the Lakers will get a playoff berth. Still, Los Angeles has had all season to get things right. There's nothing indicating they have what it takes to dominate the rest of the season. James has made the playoffs 13 seasons in a row. He will drag a team to his 14th straight appearance if he has to. The Lakers are too talented not to figure things out. They have arguably the greatest player ever, who is still as dominant as he ever was. They also have veterans with championship pedigree helping the young guys get to the next level. James has taken less talented teams to the NBA Finals. There is no way he lets this team fall off. Los Angeles will be in the playoffs. MORE: Tristan Thompson says LeBron will push Lakers to playoffs even if hes hurt The Lakers signed James to be championship contenders, but all he has done is put pressure on the young core to get up to his level. The team hasn't lived up to the hype and expecting them to make the playoffs with everything working against them is too much to ask. The young guys still have to recover from being the subject of a public trade war for Anthony Davis and the team has been hurt one way or another the entire year. With other teams starting to peak at the end of the year, there's no way Los Angeles makes up ground. The Lakers' playoff drought continues in 2019. The Tylt is focused on debates and conversations around news, current events and pop culture. We provide our community with the opportunity to share their opinions and vote on topics that matter most to them. We actively engage the community and present meaningful data on the debates and conversations as they progress. The Tylt is a place where your opinion counts, literally. The Tylt is an Advance Local Media, LLC property. Join us on Twitter @TheTylt, on Instagram @TheTylt or on Facebook, wed love to hear what you have to say. | https://www.oregonlive.com/tylt/2019/02/will-the-lakers-make-the-nba-playoffs.html |
Is Auxly Cannabis a Buy? | Momentum continues to pick up for the marijuana industry. But not every marijuana stock is prospering. Auxly Cannabis (NASDAQOTH: CBWTF) lost more than half its value in 2018, making it one of the 10 worst-performing marijuana stocks of the year. So far in 2019, the stock is down close to 20% while the shares of many of its peers are soaring. Marijuana growing in a greenhouse. More Image source: Getty Images. The good Auxly's share price hasn't reflected the tremendous potential the company has. But that potential exists nonetheless. Estimates vary about just how big the global marijuana market could be. However, projections of $100 billion or more within the next decade don't appear to be unrealistic. Auxly itself estimates that the total market could be close to $50 billion by 2024. The company doesn't have to be a big player in a market of that size to be enormously successful. Auxly offers one key advantage to investors that most marijuana stocks don't: diversification across the cannabis supply chain. The company's revenue streaming partnerships, joint ventures, equity investments, and subsidiaries make Auxly a player in the upstream cultivation, midstream extraction and processing, and downstream distribution and sales segments of the cannabis industry. With its upstream partnerships, Auxly is on track for a funded annual production capacity of around 50,000 kilograms this year. By the end of 2021, the company expects to boost that level to 170,000 kilograms. Over the long run, the most attractive profits could be in the midstream part of the business. Auxly's DoseCann subsidiary, which has extraction and processing operations, could be an especially big winner down the road. Auxly isn't just focused on marijuana. Its majority stake in Uruguay-based Inverell gives the company a large-scale hemp operation in South America. The bad Despite its impressive efforts in wheeling and dealing, Auxly has yet to make even a cent of profit. In the third quarter of 2018, the company posted a loss totaling nearly 4.6 million Canadian dollars, or around $3.5 million. Auxly's problem isn't just that it's spending a lot of money (which it is); the company simply isn't making much revenue, either. In Q3, Auxly's revenue totaled a measly CA$512,000 -- roughly $385,000. The primary issue for Auxly is that most of its upstream partners are still ramping up their production capacity. They can't sell what they can't produce. This underscores how dependent Auxly's fortunes are on other parties. The company ran into a problem with this reliance recently. Auxly and FSD Pharma formed a joint venture to develop part of FSD's Ontario cannabis facility. However, after what Auxly referred to as "contractual breaches relating to FSD Pharma's management and staffing obligations" related to the joint venture facility, the deal fell apart. Its ridiculously high amount of dilution. Auxly has to be able to access a lot of capital to fund all of the deals that it makes. Unfortunately, a key way that the company raises that capital is through bought-deal financing, a transaction where it issues new shares with underwriters agreeing to assume all of the price risk by committing to buy the shares upfront. | https://news.yahoo.com/auxly-cannabis-buy-141700020.html |
Could Plug Power Be a Millionaire-Maker Stock? | The last five years have not been kind to Plug Power (NASDAQ: PLUG). The hydrogen fuel-cell company was trading at about $10 a share in 2014, but today is trading between $1-$2 per share. Of course, that kind of a big price drop might mean that the stock is ripe to outperform. Or it might mean that the stock market has realized the company is going nowhere fast. Let's dig deeper to find out. A man drives a forklift in a warehouse More Top fuel cell company Plug Power has had its greatest success with industrial equipment. Image source: Getty Images. Stuck in a niche Once upon a time -- like, 10 years ago -- hydrogen fuel cells were seen as a leading contender for mass-producing green energy vehicles. Companies like Plug Power and Ballard Power Systems (NASDAQ: BLDP) have turned that potential into reality -- kind of. While fuel-cell vehicles do exist today, most of the fuel cells made by Plug Power and Ballard are used in warehouses and airplane hangars, not on highways. Fuel cell-powered forklifts make up the bulk of these. That's because fuel cells can be recharged much more quickly than batteries, so they make an attractive alternative for a piece of equipment that can cause big bottlenecks every time it's offline for a recharge. But Plug Power and Ballard don't want to be stuck in this niche market forever. Both have been working tirelessly to break into the broader vehicle market, particularly larger vehicles like delivery vans, buses, and light rail systems. If Plug Power could become a major player in this space, its share price could skyrocket and possibly even turn a modest investment into $1 million. Full of potential You may have heard Cyril Connolly's famous phrase, "Whom the gods wish to destroy, they first call promising." Although fuel cells did -- and do -- hold a lot of promise as a green fuel source, they have been utterly eclipsed by batteries in the transportation market. According to Information Trends, there were 6,500 fuel-cell vehicles on the road worldwide in 2017. But the International Energy Agency estimates there were about 3.1 million electric vehicles. And that was before Tesla (NASDAQ: TSLA) ramped up production of its Model 3. In spite of this, Plug Power claims that its fuel cells are more efficient than batteries, at least in forklifts. But the reasons it cites don't have anything to do with superior performance. Instead, the company states that fuel cells reduce the need for "time-costly battery changes and energy-consuming battery charges," as well as "progressive battery droop" as batteries age. But Plug Power only touts a 5% to 6% increase in productivity as a result, which doesn't seem significant enough to allow fuel cells to break batteries' stranglehold. Indeed, the biggest current advantage held by fuel-cell vehicles over battery-powered ones is the difference in the amount of time it takes to refuel/recharge. It takes about five minutes to refill a fuel-cell vehicle, in a process similar to filling up at the gas station. On the other hand, even at a Tesla Supercharger, fully charging an electric-vehicle battery takes more than an hour. | https://news.yahoo.com/could-plug-power-millionaire-maker-140400438.html |
Why Is Citizens Financial Group (CFG) Up 8.3% Since Last Earnings Report? | Citizens Financial Group (CFG) reported earnings 30 days ago. We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Citizens Financial Group (CFG). Shares have added about 8.3% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Citizens Financial Q4 Earnings Beat, Expenses Rise Citizens Financial delivered a positive earnings surprise of 4.3% in fourth-quarter 2018, riding on higher revenues. Adjusted earnings per share of 98 cents topped the Zacks Consensus Estimate of 94 cents. Also, the bottom line improved 38% from the prior-year quarter. The company experienced continued expansion of margins and loan growth, which aided higher revenues. Also, rise in fee income was another tailwind. However, higher expenses and provisions were the main undermining factors. After considering non-recurring items, the company reported net income of $465 million or 96 cents per share compared with $666 million or $1.35 in the year-ago quarter. For full-year 2018, adjusted earnings per share were $3.56, surpassing the Zacks Consensus Estimate of $3.52. Further, the figure increased 38% from the prior year. Revenues & Loans Increase, Expenses Escalate For full-year 2018, the company reported revenues of $6.13 billion, up around 7.4% year over year. Yet, the revenue figure lagged the Zacks Consensus Estimate of $6.14 billion. Total revenues in the quarter were $1.59 billion, which missed the Zacks Consensus Estimate of $1.60 billion. However, the top line was up 7.3% year over year. On an underlying basis, total revenues increased 9%. Citizens Financials net interest income increased 8% year over year to $1.17 billion. The rise was primarily attributable to average loan growth and improved margin. In addition, net interest margin expanded 14 basis points to 3.22%. Non-interest income increased 4.2% to $421 million. The rise was due to growth in card fees, letter of credit and loan fees and capital markets fees, partially offset by lower mortgage banking fees and other income. On an underlying basis, non-interest income climbed 2%. Non-interest expenses were up 6% year over year to $951 million. The increase reflects higher salary and employee benefits tied to higher revenue-based compensation, along with the impact of strategic growth initiatives. Expenses increased 2% on an adjusted basis. Efficiency ratio declined to 60% in the fourth quarter from 61% in the prior-year quarter. Generally, lower ratio is indicative of the banks improved efficiency. As of Dec 31, 2018, period-end total loan and lease balances increased nearly 2% sequentially to $116.7 billion, and total deposits grew 2% to $119.6 billion. Credit Quality: A Mixed Bag As of Dec 31, 2018, net charge-offs in the quarter increased 32% year over year to $86 million. Allowance for loan and lease losses increased 1% to $1.24 billion. Also, provision for credit losses jumped 8% to $78 million. However, total non-performing loans and leases were down 11% to $832 million. Capital Position Citizens Financial remained well capitalized in the quarter. As of Dec 31, 2018, Common Equity Tier 1 capital ratio was 10.6%, down from 11.2% on an annual basis. Further, Tier 1 leverage ratio came in at 10%, flat year over year. Total Capital ratio was 13.3% compared with 13.9% in the prior-year quarter. Capital Deployment Update As part of its 2018 Capital Plan, the company repurchased 8.25 million shares of common stock during the quarter. Notably, including common stock dividends, it returned $427 million to its shareholders. Outlook First-Quarter 2019 (excluding expected notable items) The company expects 1% sequential average loan growth, given strong commercial lending pipelines and solid growth in education and retail unsecured. NIM is expected to remain stable on a sequential basis on the back of higher interest rates and benefit from balance sheet optimization strategies. Noninterest income is expected to be broadly stable as a rebound in capital market fees is likely to offset seasonal impacts. | https://news.yahoo.com/why-citizens-financial-group-cfg-143002876.html |
Why Is Schlumberger (SLB) Up 8.7% Since Last Earnings Report? | Schlumberger (SLB) reported earnings 30 days ago. We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Schlumberger (SLB). Shares have added about 8.7% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Schlumberger Posts In-Line Earnings in Q4, Decline Y/Y Schlumberger Limiteds fourth-quarter 2018 earnings of 36 cents per share (excluding charges and credits) were in line with the Zacks Consensus Estimate. The bottom line, however, declined from 48 cents a year ago. The oilfield service giant logged total revenues of $8,180 million, flat year over year. The top line, however, beat the Zacks Consensus Estimate of $8,062 million. The improvement in drilling business on higher mobilized rigs for integrated projects, rise in sales of SIS software in international markets and increased activities associated with Testing Services in Oman, United Arab Emirates and Qatar aided the companys fourth-quarter results. The positives were partially offset by the fall in OneStim revenues from the North American land market. Segmental Performance Reservoir Characterization and Drilling units registered a year-over-year increase in revenues while the Production segment reported a decline. Increased sales of SIS software in India, Russia, Vietnam and China aided the Reservoir Characterization segment. Improved activities related to Testing Services in Oman, United Arab Emirates and Qatar also led to the improvement. However, lower Wireline activity in Russia partially offset the units results. Mobilization of higher drilling rigs for several integrated drilling developments in Argentina, China, India and Norway backed the Drilling segment. Lower activities in Northern Hemisphere have offset the results partially. Decline in OneStim revenues from the land market of North American hurt the Production segment. The waning in revenues related to well services in the Argentina also led to the deterioration. Revenues at the Reservoir Characterization unit totaled $1,651 million, marginally higher than $1,640 million a year ago. Pre-tax operating income increased nominally to $364 million from $359 million in fourth-quarter 2017. Revenues at the Drilling unit summed $2,461 million, up 13% year over year. Pre-tax operating income was $318 million, flat year over year. Revenues at the Production segment declined 5% from the year-earlier quarter to $2,936 million. Moreover, pre-tax operating income fell 37% year over year to $198 million. Revenues at the Cameron segment amounted to $1,265 million, down 11% year over year. Pre-tax operating income dropped 37% from the prior-year quarters $127 million. Financials As of Dec 31, 2018, the company had approximately $2,777 million in cash and short-term investments plus $14,644 million in long-term debt. This represents a debt-to-capitalization ratio of 30.5%. Through the October-to-December quarter, 2.1 million stocks were repurchased by the oilfield services player. Outlook Schlumberger believes oil prices will recover gradually through 2019. However, the volatility in the commodity price has convinced explorers and producers to spend conservatively, added the company. In other words, a customers emphasis on free cash flow rather than capital spending owing to oil price volatility has made the outlook for onshore North American drilling and production businesses uncertain, said Schlumberger. In the past month, investors have witnessed a downward trend in fresh estimates. The consensus estimate has shifted -5.86% due to these changes. VGM Scores Currently, Schlumberger has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. | https://news.yahoo.com/why-schlumberger-slb-8-7-143002057.html |
Why Is SunTrust (STI) Up 12.2% Since Last Earnings Report? | A month has gone by since the last earnings report for SunTrust (STI). Shares have added about 12.2% in that time frame, outperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. SunTrust Q4 Earnings Top as Revenues Rise, Costs Fall SunTrusts fourth-quarter 2018 adjusted earnings of $1.50 per share outpaced the Zacks Consensus Estimate of $1.40. However, the figure compared favorably with the prior-year quarters adjusted earnings of $1.09. Results were driven by rise in net interest income and lower expenses. The balance sheet position also remained strong during the quarter with improvement in loans and deposits. However, a decline in non-interest income and higher credit costs were the undermining factors. After certain non-recurring items, net income available to common shareholders for the quarter was $632 million or $1.40 per share, down from $710 million or $1.48 per share in the prior-year quarter. In 2018, earnings of $5.74 per share increased 40% relative to 2017 adjusted earnings. Net income available to common shareholders (GAAP basis) was $2.67 billion, up 22% from the prior year. Revenues Improve, Costs Decline Total revenues for the reported quarter were $2.37 billion, up 4% year over year. Also, the figure beat the Zacks Consensus Estimate of $2.35 billion. In 2018, total revenues of $9.21 billion grew 3%. Further, the figure surpassed the Zacks Consensus Estimate of $9.19 billion. Net interest income increased 8% year over year to $1.55 billion. Net interest margin (FTE basis) was up 10 basis points (bps) to 3.27%. Non-interest income was $818 million, down 2% from the prior-year quarter. The fall was mainly due to lower trading income, mortgage-production related income and other non-interest income. Non-interest expenses decreased 3% from the year-ago quarter to $1.48 billion. The fall was primarily due to a lower marketing and customer development costs, and regulatory assessments expenses. Credit Quality: Mixed Bag Total non-performing assets were $589 million as of Dec 31, 2018, down 21% from the prior-year-quarter end. Non-performing loans to total loans held for investment decreased 26 bps year over year to 0.26%. Further, the rate of net charge-offs to total average loans held for investment decreased 3 bps to 0.26%. However, provision for credit losses rose 20% from the year-ago quarter to $89 million. Strong Balance Sheet As of Dec 31, 2018, SunTrust had total assets of $215.5 billion while shareholders equity was $24.2 billion, representing 11% of total assets. As of Dec 31, 2018, loans held for investments were $151.84 billion, up 3% from the prior-quarter end. Total consumer and commercial deposits grew 1% from the prior quarter to $161.54 billion. SunTrusts estimated common equity Tier 1 ratio under Basel III was 9.21% as of Dec 31, 2018. Share Repurchase During the reported quarter, the company bought back shares worth $750 million. Outlook The company expects NIM in first-quarter 2019 to remain unchanged on a sequential basis. Beyond this, NIM will depend on the rate environment, loan growth and funding cost. Notably, two fewer days in the quarter will hurt NII by roughly $20 million. Core personnel expenses will likely increase nearly $60-$75 million in the first quarter, due to the typical seasonal increase in benefits and FICA cost. Management expects NCO ratio to be 25-30 bps in 2019. Provisions are expected to modestly exceed NCOs given the loan growth, with quarterly variability. In 2019, the company expects effective tax rate on a reported basis to be 19%, and between 20% and 21% on a FTE basis. The company targets to achieve tangible efficiency ratio of 56-58% over the medium term. In the past month, investors have witnessed an upward trend in fresh estimates. VGM Scores At this time, SunTrust has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy. | https://news.yahoo.com/why-suntrust-sti-12-2-143002820.html |
Why Is V.F. (VFC) Up 18.6% Since Last Earnings Report? | A month has gone by since the last earnings report for V.F. (VFC). Shares have added about 18.6% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is V.F. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. V.F. Corp Q3 Earnings & Sales Beat Estimates, View Up V.F. Corp posted strong third-quarter fiscal 2019 results, wherein both the top and bottom line surpassed the Zacks Consensus Estimate and improved year over year. With this, the company delivered its sixth bottom-line beat in the last seven quarters. Results were mainly driven by gains from robust trends at its core brands (Vans and The North Face). The company also witnessed solid growth at its international and direct-to-consumer businesses as well as strength across most of its segments. As a result, management raised its outlook for fiscal 2019. The companys adjusted earnings per share of $1.31 from continuing operations improved 30% year over year, exceeding the Zacks Consensus Estimate of $1.09. Earnings included 1 percentage point contribution from acquisitions, net of divestitures. On a constant-dollar basis, adjusted earnings rose 31%. V.F. Corp generated net revenues of $3,940.2 million, which increased about 8% year over year and surpassed the Zacks Consensus Estimate of $3,874 million. Constant-dollar revenues jumped 10%. Excluding the impact of acquisitions net of divestitures, revenues improved 7% and 9% at constant currency. Revenue growth can be attributed to continued strength in the companys largest brands, international and direct-to-customer businesses along with robust Active, Outdoor and Work segments. Adjusted gross margin rose 60 basis points (bps) year over year to 52.2% backed by favorable mix-shift toward high-margin businesses. Adjusted operating income rose 30% to $656 million and adjusted operating margin expanded 270 bps to 16.6%. Notably, adjusted operating income included a $7-million contribution from acquisitions net of divestitures. Excluding acquisitions net of divestitures, adjusted operating margin rose 280 bps to 16.8%. Segmental Details Revenues at the Active segment grew 16% to $1,142.6 million (up 18% on a constant-dollar basis). The improvement was driven by a 25% (27% in constant dollars) increase in revenues for the Vans brand. The Outdoor segment reported revenues of $1,612.6 million, which improved 11% year over year (up 12% in constant dollars). The segments revenues benefited from a 14% rise (up 16% in constant dollars) in The North Face brand as well as a 4 percentage point contribution from acquisitions. Revenues at the Work segment rose 2% and 3% at constant currency, to roughly $493.6 million. The Jeans segment reported revenues of $657.9 million, reflecting a decrease of 5% year over year (and 3% on a constant-dollar basis). Other revenues rose 1% to $33.5 million on both reported and constant-dollar basis. Financial Details V.F. Corp ended the fiscal third quarter with cash and cash equivalents of $535.3 million, long-term debt of $2,135.2 million and shareholders equity of $4,300.6 million. In the first nine months (ended Dec 29, 2018), the company generated cash from operating activities of $1,436.7 million. Further, management announced a quarterly dividend of 51 cents per share, which is payable Mar 18, 2019, to its shareholders of record as of Mar 8. As of the quarter-end, the company had $3.8 billion remaining under its existing share repurchase authorization. Outlook Following robust fiscal third-quarter results, the company raised its earnings and sales view for fiscal 2019. V.F. Corp now expects revenues to be a minimum of $13.8 billion, which represents a 12% and 13% growth at constant currency. Earlier, the company anticipated revenues of at least $13.7 billion, up 11% from the year-ago period. On a segmental basis, the company expects revenue growth of 8% for Outdoor, 16% for Active, 39% for Work segments. However, it projects revenues to dip 3% at its Jeans division. At its International business, V.F. Corp expects revenues to grow 10-11% and 13% at constant currency. Revenues for the direct-to-consumer business are expected to increase 13% and 14% at a constant-dollar basis. The company still estimates digital revenue growth of above 30%. While adjusted gross margin is still anticipated to be about 51%, adjusted operating margin is now expected to expand 90 bps to 13.6% versus prior guidance of 80-bps increase to 13.5%. Management now envisions adjusted earnings per share of $3.73, mirroring growth of 19% year over year and 20% at constant currency. Markedly, this guidance includes an additional $45 million or 9 cents per share from incremental investment. Earlier, it projected adjusted earnings per share of $3.65. Further, V.F. Corp still expects cash flow from operations to be approximately $1.8 billion in fiscal 2019. The effective tax rate is expected to be 16%. Moreover, capital expenditures are estimated to be roughly $275 million for the fiscal year. | https://news.yahoo.com/why-v-f-vfc-18-143002871.html |
Why Is State Street (STT) Down 0.6% Since Last Earnings Report? | A month has gone by since the last earnings report for State Street (STT). Shares have lost about 0.6% in that time frame, underperforming the S&P 500. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. State Streets Q4 Earnings Beat on Higher Revenues State Streets adjusted fourth-quarter 2018 earnings of $1.68 per share beat the Zacks Consensus Estimate by a penny. However, the figure was 10.2% below the prior-year quarter level. Results reflected higher net interest income (reflecting rise in interest rates) and fee income, which supported revenue growth. However, increase in non-interest expenses and assets under custody and administration plus assets under management (AUM) decline were the undermining factors. After considering several non-recurring items, net income available to common shareholders was $398 million or $1.04 per share, up from $343 million or 89 cents per share in the year-ago quarter. Adjusted earnings of $7.22 per share for 2018 increased 15.3% year over year. The figure lagged the Zacks Consensus Estimate by a penny. Net income available to common shareholders (GAAP basis) was $2.41 billion, up 20.9% from the prior year. Revenues Improve, Expenses Rise Total revenues were $2.99 billion, increasing 4.9% year over year. Also, the top line marginally beat the Zacks Consensus Estimate of $2.98 billion. For 2018, total revenues were $11.98 billion, increasing 7.2% from the 2017 level. The top line matched the consensus estimate. Net interest revenues increased 13.1% from the year-ago quarter to $697 million. This upside was mainly driven by higher interest rates and disciplined liability pricing. Also, net interest margin expanded 17 basis points year over year to 1.55%. Fee revenues grew 2.6% from the prior-year quarter to $2.29 billion. This uptick was aided by higher management fees, processing fees, and other revenue and foreign exchange trading services, partially offset by a decline in servicing fees and securities finance revenues. Non-interest expenses were $2.47 billion, up 16.1% on a year-over-year basis. The rise was due to increase in all expense components except for transaction processing service expenses, and acquisition and restructuring costs. As of Dec 31, 2018, total assets under custody and administration were $31.6 trillion, down 4.5% year over year. Moreover, AUM was $2.5 trillion, down 9.7%. Strong Capital and Profitability Ratios Under Basel III (Advanced approach), estimated Tier 1 common ratio was 12.1% as of Dec 31, 2018, compared with 14.1% as of Sep 30, 2018. Return on common equity was 7.5% compared with 6.9% in the year-ago quarter. Outlook Net interest revenues are anticipated to grow in the low to mid-single-digit range in 2019. Management expects to expenses to decline nearly 2% in first-quarter 2019 on a sequential basis. Fee revenues in first-quarter 2019 are expected to be down 3-4% sequentially. In addition, tax rate is estimated to be 15-16% in 2019. However, in the first quarter, tax rate is expected to be a little higher at nearly 18%. Medium-term Targets Including the impact of the Charles River Development buyout, the company expects revenues to grow 4-5%. Pre-tax margin is expected to improve 2%. Management expects EPS growth of 10-15% and ROE of 12-15%. In the past month, investors have witnessed a downward trend in fresh estimates. The consensus estimate has shifted -8.23% due to these changes. VGM Scores Currently, State Street has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Outlook Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise State Street has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report State Street Corporation (STT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research | https://news.yahoo.com/why-state-street-stt-down-143002427.html |
Is Kimco Realty a Buy? | Real estate investment trust (REIT) Kimco Realty (NYSE: KIM) owns retail properties. With the retail industry in a state of flux, often referred to with the hyperbolic term "the retail apocalypse," investors haven't been too keen on the company's shares of late. In fact, the shares are 45% off of the highs reached in mid-2016, and the yield is over 6%, higher than it has been since 2011 despite annual dividend hikes since that date. For those who can see past the retail apocalypse hype, though, Kimco is worth a deep dive. Enclosed malls, not shopping centers, are the risk The first thing to realize here is that the real pain in retail is being felt at enclosed malls, specifically enclosed malls in weak locations or with old facilities. Kimco doesn't play in that space; it owns shopping centers. These are the local strip malls that house everyday necessity businesses like grocery stores, hair salons, dry cleaners, and restaurants. These types of facilities have held up relatively well compared to enclosed malls. To put a number on it, Kimco's occupancy was a very strong 95.8% in 2018. The acronym REIT spelled out with dice sitting atop piles of coins. More Image source: Getty Images. But that deserves a little more examination. First off, the overall occupancy number includes the hit from bankruptcies like Toys R Us and Kmart, which lived in some of Kimco's properties. So the "apocalypse" is having an impact, but it's not a particularly big one. However, that starts to look even better when you break Kimco's customers into large and small lessees. The so-called anchor tenants in Kimco's portfolio had an occupancy of 97.4%, a strong number. The smaller stores that rely on the anchor to drive foot traffic had an occupancy rate of 91.1%. Don't think that's a bad figure, though, because it's an all-time high for the company. All in, don't lump Kimco in with struggling regional mall operators. It isn't the same animal. What's going on That said, Kimco has been making some aggressive changes to its business in recent years. For example, in 2010, it owned more than 800 properties, but by the end of 2018, it owned just 437. Since the end of the 2007-to-2009 recession, which led to a dividend cut in 2010, the company has shifted in a new direction. It has chosen to focus all of its efforts on the top 20 U.S. markets. Today, more than 80% of its rents come from these core markets, compared to around 60% in 2010. There are two takeaways here. First, management has made a lot of progress. Second, it's still not done selling assets. So look for divestitures to continue. That's a mixed blessing, in that it can depress rental income even as it makes Kimco a better REIT. To put some numbers on that, Kimco's asset sales have increased the average population around its shopping centers by 13%, household density by 15%, median income by 13%, and average income by 16%. Selling that much of the portfolio is hard; the total rent roll fell slightly year over year in 2018 because of the sale of 68 properties. But overall, Kimco has vastly improved the core of the business over time. That core, meanwhile, is also getting a makeover, as Kimco has embarked on an upgrade cycle even while it has sold off less desirable properties. This is a multipronged approach. Kimco is, of course, making sure its properties look nice...that's table stakes. It is also enhancing its remaining high-quality assets by building from the ground up. This can be as simple as adding a few stores on adjacent land or far more complex, such as creating mixed-use space, which can include things like offices and housing. | https://news.yahoo.com/kimco-realty-buy-163500195.html |
Is Amgen a Buy? | Amgen (NASDAQ: AMGN) ranks No. 1 among all biotech stocks when it comes to market cap. It's one of the most profitable biotechs and claims one of the largest cash stockpiles in the industry. While the S&P 500 and many biotech stocks floundered in 2018, Amgen's share price jumped nearly 12%. The company beat analysts' earnings estimates in every quarter last year. Face of scientist wearing safety glasses with a gloved hand holding a beaker in front of his face. More Image source: Getty Images. The good news Let's first start with the good news for Amgen: The biotech has seven blockbuster drugs in its lineup that continue to generate an impressive amount of cash flow. In 2018, six of Amgen's drugs generated double-digit percentage, year-over-year sales growth. Cholesterol drug Repatha led the way with sales soaring 72%. Amgen's biggest overall winner, though, was osteoporosis drug Prolia, with an additional $323 million in sales last year reflecting an increase of 16% from 2017. Even better, Amgen had one new drug and two new biosimilars that launched in 2018 and contributed solid revenue. In its fourth-quarter results, the company said that the launch of new migraine drug Aimovig is going better than expected. Sales for Aimovig totaled $119 million last year, $95 million of which was made in Q4. Biosimilars are a key part of Amgen's growth strategy. The European launch of Amjevita -- a biosimilar to the world's best-selling drug, Humira -- appears to be going very well. Amgen has four other biosimilars in development. In addition to these biosimilars, Amgen's pipeline includes eight late-stage clinical programs. One of the most promising candidates is tezepelumab. Amgen and partner AstraZeneca are evaluating the drug in a phase 3 clinical study for treating asthma and in a phase 2 study for treating atopic dermatitis. The bad news Don't dwell for too long on Amgen's good news. There's plenty of bad news, too. The worst news of all for Amgen is that sales are falling for its top-selling drug, Enbrel. Last year, the anti-inflammatory drug generated more than 22% of Amgen's total revenue. But sales are slipping due to intense competition in the market, including biosimilars to Enbrel in Europe. That's only the beginning of Amgen's troubles. The biotech's No. 2 best seller, Neulasta, also now faces biosimilar competition. Sales are also sinking for two other current blockbusters, Aranesp and Epogen. The competitive environment could soon get tougher for Repatha as well. Sanofi and Regeneron recently announced a major price cut for cholesterol drug Praluent that could take a toll on Repatha's market share. Amgen's success with biosimilars has been dampened a bit by its failure to win FDA approval for Kanjinti in June 2018. The biotech resubmitted its filing for approval of the biosimilar to cancer drug Herceptin in December. There's also some reason for concern about Amgen's late-stage pipeline. Half of the company's late-stage programs are targeting additional indications for already-approved drugs. One of the new candidates, Evenity, already failed to win FDA approval once. Another late-stage candidate, AMG520, is a BACE inhibitor targeting Alzheimer's disease. Several BACE inhibitors from other drugmakers have already flopped in clinical studies. | https://news.yahoo.com/amgen-buy-161500007.html |
What's The Deal With Anthem's Bizarre Roadblock Tombs Quest? | Ive been splitting time on Anthem between my fully unlock PC version and my 10 hour trial on Xbox One, and now Ive arrived at the same point in both of them. Something that Ive heard some players describe as The Wall. That would be a specific main story quest that has you open four different tombs around the open world. Seems easy enough, presumably you open a tomb, fight some baddies that got there first, and move on. But thats not what it is at all. Rather, the Tombs quest is a wild departure from every mission that came before it, and you soon learn that its a laundry list of busywork that seems to arrive and stop the place of the story in its tracks. Theres a checklist of sixteen items, four per tomb, that you have to do to unlock each, and when you do unlock them, youre done, there are no fights inside. The list is as follows: Tomb of Artinia: 5 world events, 30 weapon defeats, 15 weak point defeats, 9 elite defeats Tomb of Cariff: 3 missions, 30 gear defeats, 15 combos, 3 multikills Tomb Gawnes: 50 melee defeats, 50 ultimate defeats, 3 legendary defeats Tomb of Yvena: 15 chests, 25 harvests, 3 javelins repaired, 10 collectibles It is not retroactive, so it only starts keeping track once you have activated the quest. It would seem that the list here is meant to introduce you to freeplay through the main story, but in a very, very roundabout and awkward way, and I have seen more players complain about this quest than I have any other, as even if you do nothing but grind for these specific challenges, at the very least this will probably take you about two hours to get past. I sure aint gonna beat it before my Xbox trial is over, thats for sure. Other than just beinga ton of busywork, there are specific problems with some of these: Chests, when opened by a teammate in a world event or stronghold, do not count. YOU have to open them yourself (BioWare confirms to me this is being fixed) Multikills dont seem to count, but thats because people dont understand what counts as a multikill. Its eight kills with a ten second timer in between each kills that resets when you get a new one. And again, I think its you that has to personally kill all eight, so this is hard to get in a group. For me personally, I have zero javelin revives logged because Ive been playing the campaign on normal and no one ever dies. Seems wrong. Most people will start at 0/10 collectibles without knowing what collectibles are at all. You find them randomly in the world in freeplay, so you just sort of have to search everywhere for them but the game doesnt tell you this at all. The game also has no tutorial system at all for combos, which seems bizarre to me considering how essential it is to combat. This entire questline is justa bad idea, and I understand why its getting so much grief. Bad. If they wanted to introduce freeplay, I get that, but like, make the whole thing do five world events which would have accomplished the same thing. You dont need 15 other items on a checklist after that. I dont know if its too late to change this quest before official launch on the 22nd, but if theres a way, I think its probably in the best interest of Anthem to do so. | https://www.forbes.com/sites/insertcoin/2019/02/17/whats-the-deal-with-anthems-bizarre-roadblock-tombs-quest/ |
Could Facebook's Secret User Tracking Be Just A Preview Of What's To Come? | As the story broke last week that Facebook was secretly using its own platform and smartphone app to quietly track users without their knowledge that it believed constituted threats to the company, we saw an entirely new side of Facebooks dark misuse of our personal data. Even more frighteningly, the company refused to deny that it had tracked journalists that it deemed threats to its business for revealing confidential information or policymakers proposing legislation that might curtail its data practices. Looking back on last year, 2017 might be best described as Facebooks Year Of Privacy Reckoning. It seems nearly every few weeks the company was subject to yet another explosive story documenting just how far the company had gone over the years to mine and manipulate its users and strip away their last shreds of privacy in the blind pursuit of profit. In the space of a single year, nearly a decade and a half of the companys prioritization of profit over privacy was laid bare. Yet, it seems the stories we heard in 2017 were just the beginning of what we have yet to learn about the companys business practices. All of the disclosures last year about Facebook revolved around the ways in which the company mined and manipulated its users for commercial profit. Despite the sheer volume of privacy breaches, their scope and variety, all of these stories still fit neatly into the category of a for-profit Frankensteins Monster run amok, turning its users into lab rats from which it could extract the greatest monetary gain. The disclosure last week that Facebook has been secretly repurposing its massive data empire for what amounts to quasi-law enforcement activities separate from its advertising business, is nothing short of extraordinary and changes this narrative entirely. Suddenly we see a company that felt entirely comfortable stepping over the line of profit making and into the role of governmental agency, harvesting its users most intimate information and surveilling their physical movements in order to protect its interests. The fact that the company refused to deny having used this tracking to surveil journalists that have revealed confidential information or monitored whom lawmakers and their aides meet with in capitals across the world to see what legislative hurdles it might face is so Orwellian it almost cannot be believed. Most remarkable of all is that we are even having to reckon with the fact that a single private for-profit company, accountable to no-one, has the technical capability to track nearly a quarter of the earths population in realtime, including journalists and elected officials globally. From its headquarters in Silicon Valley, all it takes is a click of a mouse for Facebook to track every EU lawmaker that has ever spoken a negative word about the company to see who they are meeting with in realtime. Those lawmakers smart enough not to voluntarily carry Facebooks surveillance beacon in their pocket are likely still trailed by aides who do. As if that wasnt enough, Facebook can track all of the journalists who have dared to cover the company in an unflattering light and can watch every academic and NGO privacy researcher to see who they might be meeting with. It can even read all of their private messages to see if their private missives to friend, family, spouses and children might shed any light on their research, reporting or policymaking relating to the companys interests. It is not too far of a stretch to imagine the company in the future reminding an adversarial policymaker about those intimate photos they shared on Facebook in their college years that theyve long forgotten about but which are still hosted on the companys servers. Looking back on the Facebook stories of 2017, they were all easily shrugged off by the company as merely the ordinary privacy cost of the free services Facebook provides. This latest story, of Facebook operating its own quasi law enforcement service, repurposing its own platform to construct a global surveillance network that would make Chinese officials jealous, suggests there is a far darker side to Facebook that we are only just beginning to see. The companys refusal to deny tracking journalists and politicians and the utter lack of any external visibility, auditing or oversight over how it uses its two billion users data for its own purposes means we have absolutely no idea all of the ways the company may be watching us or repurposing our data right now. The companys past efforts at mass scale emotional manipulation also raise the concern that the company could easily attempt to leverage its growing dominance over the information and news landscapes by shaping our perspectives of itself, halting the flow of information that paints it in a negative light and promoting narratives that portray it as a positive force in society. Or simply influence elections across the world to ensure that pro-Facebook lawmakers take over. Doing so would require only the flip of an algorithmic switch, with no outside oversight to ever know about it or raise questions. In fact, Facebook could be doing it now for all we know. We can only once again trust the company that it is not. Putting this all together, this past weeks revelations of Facebooks secret user tracking are vastly more troubling than any of last years privacy disclosures. Unlike the profit-minded activities that came to light last year, Facebooks threat tracking shows a company stepping ever further into the role of a quasi-governmental organization, repurposing its own data collection into a tool of surveillance for enforcing security and order. Much as Chinas massive tracking system exists on paper strictly to address physical threats but rapidly morphed into the realm of societal order keeping as its capabilities grew, so too does Facebooks worldwide surveillance network have the opportunity to devolve into a global tool of oppression that can uniquely transcend all physical and governmental borders. In the end, last weeks story is very possibly just the tip of the iceberg of what Facebook is secretly doing with our data. Unfortunately, the likely ending to this story is that, like it did with privacy, Facebook will simply retrain society to accept this new world order and we will all quietly go along until Facebook is so powerful that it dictates its will to the governments of the world. What an Orwellian world indeed. | https://www.forbes.com/sites/kalevleetaru/2019/02/17/could-facebooks-secret-user-tracking-be-just-a-preview-of-whats-to-come/ |
Does Apple Have Something Big Planned for March? | Another day, another rumor about Apple (NASDAQ: AAPL). While it's all part of being an Apple investor, sometimes there's more to the stories than just idle gossip. It can be particularly intriguing when several reports coalesce to something that's more than the sum of their parts, suggesting that there might be some underlying truth in the tales. That's precisely what's happening right now. While we haven't had any official confirmation from Apple, it seems there might be a big announcement coming in March. The timing wouldn't be out of character for the iPhone maker, as the company has often scheduled product debuts in that month. The landing screen for Apple TV showing numerous viewing options. More Image source: Apple. CEO Tim Cook recently signaled that new services will debut this year: On services, you will see us announce new services this year. There will [be] more things coming. I don't want to tell you about what they are and I'm not going to forecast precisely... But they're things that we feel really great about, that we've been working on for multiple years. A recent report by Buzzfeed, citing unnamed sources, says that Apple is planning a big announcement at the Steve Jobs Theater on its Apple Park campus on March 25. Those same sources "described the event as subscription-services focused," according to the report. With a tentative date penciled in, here are a few possibilities for Apple's big reveal. The long-awaited subscription news service There have been multiple accounts that a subscription service for news buffs is in the offing, which The Wall Street Journal is calling "Netflix for news." The service would provide unlimited access to content from a number of participating publishers for one monthly subscription price. Negotiations are ongoing, and some content providers have bristled at Apple's proposed 50% cut of subscription revenue, which could impact the timing of the launch. The remaining revenue would be divided pro rata among the publishers, allocated on the basis of how much time users spent on each provider's articles. The rumored price for the service is $10 per month. The much-ballyhooed video streaming service In late 2011, Steve Jobs told his biographer that he had "cracked" the code for television. Since then, rumors of an Apple television offering have been ever-present, the current Apple TV product notwithstanding. Over the past couple of years, Apple has made no secret of its original content ambitions. After humble early attempts like Planet of the Apps and Carpool Karaoke: The Series, the company reportedly budgeted more than $1 billion for original movies and television series. The amount of star power behind the reports includes big names like Reese Witherspoon, Jennifer Aniston, Oprah Winfrey, J.J. Abrams, and M. Night Shyamalan. Still, even as these projects have progressed, many have wondered aloud what Apple's endgame might be. The widely-reported answer is that Apple plans to launch a global steaming video service, which could debut in April. In addition to its original content, sources say Apple will offer subscriptions to high-profile cable channels like HBO, Showtime, and Starz. The service would debut first in the U.S. and roll out globally thereafter. | https://news.yahoo.com/does-apple-something-big-planned-190600419.html |
Who gets to have the mic and question candidates at CNN town halls? | Sen. Kamala Harris and Howard Schultz have already gotten their golden tickets. Sen. Amy Klobuchar gets hers Monday night. The network launched a series of live one-hour programs spotlighting a single candidate last month, starting with Harris. Such televised Q&As are a political prize at any time, but theyre especially valuable now, as the Democratic field begins to stack up with contenders like the starting line at the Boston Marathon. A turn in CNNs spotlight could help a candidate catch on with voters, with donors, with the news media - and bust out of the pack. CNN has kept most of the details of its potentially kingmaking productions quiet, particularly how it selects those it favors with their own forum. The most likely criteria who can draw an audience has proved to be a bit of a moving target: Harris town hall was a hit with viewers, Schultzs was a dud. CNN managers declined to respond to questions about their selection criteria. All of which leaves a good dozen or more Democrats guessing about when, or whether, theyll get the same shot as Harris, Schultz and Klobuchar. During the 2016 cycle, CNN hosted town halls starring major and minor candidates from both parties, including Donald Trump, Hillary Clinton, Bernie Sanders, Martin OMalley, Marco Rubio, Ted Cruz, Jeb Bush and John Kasich, as well as third-party candidates Jill Stein and Gary Johnson. But not everyone was invited to CNNs party back then. The list of Democratic and Republican candidates who were deemed not ready for prime time by CNN was longer than those who were: Rick Perry, Scott Walker, Jim Webb, Lincoln Chafee, Bobby Jindal, Lindsay Graham, George E. Pataki, Mike Huckabee, Rick Santorum, Rand Paul, Chris Christie, Carly Fiorina, Jim Gilmore, Ben Carson and Evan McMullin. The puzzlement, as well as the grumbling, about this cycle intensified last week when Schultz, the billionaire former chief executive of Starbucks, got CNNs call. Democrats noted that Schultz isnt a Democrat (hes a self-declared independent), and hes not even formally declared his candidacy. Whats more, his public support is virtually nonexistent; he polled just 4 percent in CNNs own pre-town hall poll. Its not likely that Schultz gained many converts during his televised performance, highlighting both the high reward and high risk of being the sole figure onstage. A number of critics savaged Schultzs vague responses to questions, including a commentary on CNN.com titled 13 strange and awkward lines from Howard Schultzs CNN town hall. The program was seen by just over 1 million viewers, or about a third fewer than CNNs regular 10 p.m. ET program, hosted by Don Lemon, attracts on an average night. Given the cost of staging a live forum from a remote location, CNN could have saved money and had higher ratings by airing a routine program. The underwhelming response to Schultz raised the concerns of those working for other candidates, especially those with little name recognition and thin bankrolls. They fretted that the poor result could make CNN even more reluctant to offer their bosses airtime. Absolutely, said one campaign operative, who like others spoke on background so as not to jeopardize ongoing discussions with CNN. But at the same time, we know this is all about ratings and such expectations may be unrealistic. The unusually crowded field of Democrats far includes such relatively well-known names as Klobuchar of Minnesota, Harris of California, Sen. Cory Booker of New Jersey, Sen. Elizabeth Warren of Massachusetts, Sen. Kirsten Gillibrand of New York and former HUD secretary Julin Castro. Five others Rep. Tulsi Gabbard of Hawaii, former congressman John Delaney of Maryland, author Marianne Williamson, South Bend, Indiana, Mayor Pete Buttigieg and entrepreneur Andrew Yang have also declared. Squeezing all of them in now will be hard enough, but the line will probably grow longer in coming weeks. The list of undeclared but likely candidates includes former Vice President Joe Biden, Sen. Bernie Sanders of Vermont, Sen. Sherrod Brown of Ohio, former congressman Beto ORourke of Texas, former New York Mayor Michael Bloomberg and former Colorado Gov. John Hickenlooper. One campaign aide said CNN has discussed hosting a town hall with three or four candidates at once, giving each about 20 minutes or so to field questions from a moderator and audience members. Thats less than ideal, the aide said, but he acknowledged that CNN has all the leverage: In the absence of any regulation guaranteeing candidates equal time, the network can choose to ignore any candidate it wants. And so far, its the only game in town. CNNs cable-news competitors, MSNBC and Fox News, both say they will air their own candidate town halls, but neither has announced plans. At the same time, this aide said, We dont want to see CNN make the same mistake it made in 2016 by giving away insane amounts of free airtime to one candidate. He was referring to Trump, whose candidacy benefited from constant TV exposure in 2015 and 2016 (CNN President Jeff Zucker said in late 2016 that CNN made a mistake by airing so many of Trumps campaign rallies live). An aide to another campaign said CNNs town halls come at a critical moment for the burgeoning field of candidates, when national TV exposure can help establish fundraising momentum to tide a candidate over until the first televised debates in June. The opportunities are very important, especially if youre a candidate who is looking to get his name out to as many people as possible, she said. Free media is hard to quantify, but its very valuable. ... Obviously, our hope is to get a one-on-one town hall. | http://www.startribune.com/cnn-s-town-halls-who-gets-to-step-up-to-the-mic/505965372/ |
Is Colin Kaepernick collusion settlement a win over NFL? | One of the most polarizing topics in sports and culture over the past three years reached a notable tipping point Friday, when it was announced the NFL was settling with Colin Kaepernick and Eric Reid over their collusion case alleging they were conspired against following their protest of racial discrimination and police brutality by kneeling during the national anthem. Mark Geragos, the attorney for the former 49ers players, issued a joint statement with the league announcing the terms of the settlement would remain confidential, which has been widely viewed as a win for Kaepernick and Reid because many believe the NFL issued a large cash payout to the players in order to avoid the possibility of embarrassing evidence becoming public. A confidentiality agreement was signed. Geragos had reportedly deposed a number of prominent league officials, including NFL Commissioner Roger Goodell and powerful owners such as Jerry Jones of the Dallas Cowboys, Robert Kraft of the New England Patriots and the late Bob McNair of the Houston Texans, who came under fire in 2017 for comparing protesting players to inmates running the prison (and later walked back his apology). Had the case gone to its scheduled hearings in the coming weeks, theres a chance e-mails, text messages and deposition transcripts compiled in discovery over the past year could have surfaced. Theres little doubt the NFL would have been incentivized to settle with the players if any of that evidence would lead to another public relations nightmare while the league continues to deal with players implicated in domestic violence and head injuries altering the future of football. Sign Up and Save Get six months of free digital access to The Sacramento Bee Kaepernick, who hasnt played since the finale of the 2016 regular season, began sitting on the bench during the national anthem during exhibition games that August. He then decided kneeling would be a better gesture after consulting with Nate Boyer, a former Army Green Beret and Seattle Seahawks long snapper. Kaepernick was joined by Reid, who has been kneeling during the anthem for most of the past two seasons while Kaepernick remained unemployed following his departure from the 49ers in early 2017. Reid last week signed a three-year contract with the Carolina Panthers worth some $22 million after joining the team in September after the season began. He went unsigned during an unusually quiet free agent offseason for safeties. Kaepernick continues to have detractors, even after the case settled Friday, indicating the NFL wanted it to go away. But some notable figures have voiced their support. I stand with Kap. I kneel with Kap, Los Angeles Lakers LeBron James told reporters in Charlotte during All-Star Weekend festivities. I mean, I just feel what he was talking about, nobody wanted to listen to. Nobody ever really wanted to actually understand where he was coming from. I think that anybody that would sacrifice their livelihood for the better of all of us, I could respect that. And hes done that. You got a guy who basically lost his job because he wanted to stand for something that was more than just him. And so Im happy to see the news come out (Friday) that he won his (lawsuit). I hope its a hell of a lot of money that could set not only him up, but set his family up, set his grandkids up for the rest of their lives. And I hope that the word of what he did will live on throughout American history but also world history, because its important for all of us not only African Americans, but for everybody that wants to stand up for something thats more important than them. But not everyone considers the settlement a slam dunk victory for Kaepernick. Founding director of the Sports and Entertainment Law Institute and Sports Illustrated legal analyst Michael McCann wrote: Either side can spin this settlement as a win. No doubt, it will be spun by Kaepernicks supporters and his critics alike. In reality, the settlement is more like a draw that underscores the relative strengths and weaknesses for each side. Also, the absence of public knowledge of the terms of the settlement makes classifying it as a win or loss highly speculative. SHARE COPY LINK NFL commissioner Roger Goodell said if teams thought Colin Kaepernick could help them win, they would have signed him by now. | https://www.sacbee.com/sports/nfl/san-francisco-49ers/article226408555.html |
What would Lincoln do? | As is the case today, many of Lincolns contemporaries were hyperpartisan, treating politics as a constant contest between good and evil. Lincoln believed differently. Abraham Lincoln, who was born 210 years ago this month, was president during an era even more rancorous and polarized than our own. Yet he managed to navigate it not in a way that pleased everyone or made him popular, but rather by keeping the good of the country always in his sights. His path has lessons for todays leaders. Lincolns political philosophy consisted of only a few ideas, and he believed that America itself was based on these ideas. He said in 1861 that he had never had a feeling politically that did not spring from the sentiments embodied in the Declaration of Independence. In the same speech, he articulated what he believed to be the core promises of that document: that liberty was the American birthright and that in America and ultimately in the world all should have an equal chance. He spoke of democracy the way the poet Walt Whitman did, as both our nations form of government and its special reason for existing. Share your thoughts on the news by sending a Letter to the Editor. Email Share your thoughts on the news by sending a Letter to the Editor. Email [email protected] and please include your full name, address and telephone number for verification only. Letters are limited to 200 words. As is the case today, many of Lincolns contemporaries were hyperpartisan, treating politics as a constant contest between good and evil. Lincoln believed differently. As he put it in an 1848 speech, in politics there are few things wholly evil or wholly good, which means that governmental policy must typically be an inseparable compound of the two. As a result, even in his darkest moments, he looked for good in the ideas of those who disagreed with him, and he expected them to do the same. This way of thinking meant that Lincoln never treated opponents as enemies. Even during the Civil War, he did not demonize Southerners or the South. He did not view those fighting on the other side as evil. Jefferson Davis, president of the Confederate States of America, was Lincolns opposite in many ways, including in temperament. In 1861 he said of Northerners: Our people now look with contemptuous astonishment on those with whom they had been so recently associated. Lincoln did not think or talk that way. Nor did he respond in kind to personal attacks, even as they rained down on him. In 1865, when Lincoln delivered his second inaugural address, the Civil War was nearing an end, and he was already thinking about how to bind up the nations wounds. In that same address, when he urged malice toward none, he meant it. Throughout his political career, Lincoln rejected dogmatism, embraced pragmatism, and sought compromise, something that often didnt sit well with those he considered his allies. Lincoln was often accused of being noncommittal, of seeming to want things both ways. He would infuriate colleagues by telling them, My policy is to have no policy. He would change his mind, vacillate, and propose half-measures that displeased everyone. Many viewed him as weak. Within his own party, the Radical Republicans, those most fervently opposed to slavery, never trusted him. Lincoln, in turn, considered them unreasonable zealots. He complained to his secretary that they were utterly lawless and the unhandiest devils in the world to deal with. But he also could admire their idealism and recognize their goodness, explaining to his secretary that after all, their faces are set Zionwards. Lincoln chose humor over vitriol and understanding over judgment. He liked making suggestions more than issuing orders. A strong, confident man, but one who also experienced dark depression, Lincoln was mild-mannered. His capacity for empathy was striking to those around him. Lincoln had important flaws, but was providentially suited to his times. In a time of disunity, he tried to remind Americans what united them. Amid conflict, he sought conciliation. Amid anger, he advocated charity for all. Amid despair, he summoned the better angels of our nature. In his memory, todays leaders would do well to contemplate his wisdom. | https://www.seattletimes.com/opinion/what-would-lincoln-do/?utm_source=RSS&utm_medium=Referral&utm_campaign=RSS_all |
Will My Social Security Benefits Start Automatically? | Millions of seniors count on Social Security to pay the bills in retirement, and thankfully, signing up for benefits is pretty easy. But if you're wondering whether that process will happen automatically, the answer is "no." There's no single age to file for Social Security. Eligible recipients get an eight-year window to claim benefits that begins at age 62 and ends at age 70. (In fact, you're not even required to file by 70, though there's no financial reason to wait past that point.) There are different repercussions and advantages associated with filing at various ages, so the decision to claim benefits isn't one the Social Security Administration (SSA) can make for you. Rather, you'll need to weigh the pros and cons of filing at various ages to land on the right one. Person holding Social Security card More IMAGE SOURCE: GETTY IMAGES. Making the best filing decision Your Social Security benefits are calculated based on your 35 highest years of earnings, but the age at which you file for them can cause that number to climb or drop. If you file at full retirement age (FRA) -- which is 67 for anyone born in 1960 or later you'll get the exact monthly benefit your earnings record entitles you to. File before FRA, and your benefits will be reduced for each month you claim them early. And if you delay benefits past FRA, you'll boost them by 8% a year up until age 70 -- which is why waiting past 70 doesn't pay: You won't grow your benefits any longer. Because there are financial ramifications involved in your filing decision, you'll need to consider your choices carefully. One thing to keep in mind is the extent to which you expect to rely on Social Security to cover your expenses in retirement. If you've saved well, you might claim benefits on the early side so you can use them to travel or enjoy life while you're relatively young. But if you're low on savings, you'll probably want to grow those benefits, or least avoid a reduction. Your health should play a big role in your filing decision, too. Though Social Security is technically designed to pay you the same lifetime total regardless of when you initially file (the logic being that claiming early will reduce your payments, but you'll get more of them, while filing late will increase your payments, but you'll get fewer), that's only the case if you live an average lifespan. If your health is poor, and you expect to pass away on the younger side, you're generally best off claiming benefits as soon as you're able to. And if you expect to live a longer life than most, you should file as late as possible. Claiming your benefits No matter when you decide to file for Social Security, don't expect those benefits to become available overnight. It can take several months for your application to go through, so if, for example, you want to start collecting benefits at age 67, you'd be wise to apply when you're 66 and 9 months old. The easiest way to apply for Social Security is online via the SSA's website. You can also apply by phone or in person at your local Social Security office, though you might need an appointment if you're going the latter route. Either way, put a decent amount of thought into the decision, and thank your lucky stars that you have the flexibility to start taking benefits at a time that's most optimal for you. More From The Motley Fool The Motley Fool has a disclosure policy. | https://news.yahoo.com/social-security-benefits-start-automatically-200800369.html |
Should I Have A Single Person S-Corporation? | The 2018 tax season is here! We are finally going to see the effects of the tax law change at the end of 2017. And as you can image, lots of questions are coming in already. One subject that has really caught my eye has been how to handle running an S-Corp as a sole shareholder. Youve likely heard a lot of talk about the new 20% Qualified Business Income (QBI) Deduction. Many businesses are now reevaluating their business structure to see what is best. This is especially important for those running a business by themselves. For instance, one of my small business owner clients recently asked me whether it made sense for her to reorganize a single member LLC into a solo S-Corporation because of the new law. Its a technical question, and it has broad implications. Today, I want to talk specifically about running an S-Corp as a one-person shop and what you should consider if choosing this structure. The simplest form of business organization for a one-person shop is a sole proprietorship, where you and your company are essentially the same entity. That works up to a point. You could lose your house, your personal savings, college accounts for your kids, even your car. If you want to shelter personal assets from legal liabilities, you have a choice between two types of business structures. Single Member LLC To avoid the unlimited liability of a sole proprietorship, you can organize your business as a single member LLC (Limited Liability Company). LLCs are straightforward to administer, and in most cases, youll still report income on a Schedule C. However, you gain some protection because your business is considered a separate entity. In an LLC, you are only liable for damages up to the amount that you have invested in the business. However, you should make sure to keep your personal and business assets separate to prevent creditors from piercing the corporate veil. Simply put, that means a creditor can sue for your personal assets because your business and personal assets are comingled and your LLC only serves as a shell for a separation that doesnt actually exist. You also have to take a few more steps to set up a LLC than you do for a sole proprietorship. You have to file articles or organization with your state, and you should have some sort of operation agreement that explains how the business will carry out its mission. One last potential pitfall of the LLC is that you have to pay self-employment tax on all business profits because, for tax purpose, you and the business are one in the same. The self-employment tax rate is 15.3%, which consists of 12.4% in for social security and 2.9% for Medicare. You may remember these amounts that were withheld from your pay stubs when you were an employee. S-Corporation An S corporation separates you from your company completely, for both operational and tax purposes. The business is its own entity, and you as the owner are the sole shareholder and an employee. That division, however, comes with operational costs. To create an S corporation, you have to file articles of incorporation with the state, appoint officers and create bylaws for the business. In addition, you have to adhere to corporate formalities including paying yourself on payroll, meetings of the board of directors and taking meeting minutes (even if youre the only one in the meeting!). Lastly, you to the file a Form 1120s for the business and the business profit or loss will flow through to you personally on a Form K-1. Many one-person businesses find these requirements too time-consuming and expensive. Additionally, some states, like Illinois and New York, have additional taxes on and costs for S-Corps. But you can obtain significant tax savings if your business ends up making a substantial profit. Before the TCJA, most of the talk around choosing an S-Corp vs. an LLC revolved around the self-employment tax savings mentioned above. For example, if you were an accountant that made $200,000 in net business income, and gave yourself a reasonable salary of $100,000, youd save $15,300 in tax by having an S-Corp vs. an LLC. Thats a nice chunk of change. The key issue here is what constitutes a reasonable salary. This issue has long been contested, as people tend to push reasonable limits in order to save in self-employment tax. Business owners have even more incentive now that the QBI deduction only allows a 20% deduction for profits from the business, not salary. (You can read my business owner cheat sheet on QBI here.) The IRS determines reasonable-ness on a case-by-case basis but offers ten factors as guidelines. These include your role and duties in the company, your background and experience and amounts paid to others in similar-situated businesses. Its a grey area, but experts have developed some rules of thumb for example, the ideal salary is equal to one-third of business income up to the Social Security wage base, or, more recently, the perfect salary is 28.57% of your income. While I love a good rule of thumb, small-business owners who are making the decision between these two entities need to take extra precautions. If your business revenue comes mostly comes from your services, the IRS will likely see all of your business income as your salary. In other words, all of you solo accountants, advisors, etc. need to consider the fact that it may not be reasonable for you to have any dividend income at all. That fact defeats the purpose of having a more costly and burdensome S-Corp. Here are a few court cases that can shed a bit more light on the subject. Spicer Accounting, Inc., Plaintiff-appellant, v. United States of America, Defendant-appellee, 918 F.2d 90 (9th Cir. 1990) Spicer was the president, treasurer and direct of his corporation Spicer Accounting Inc. He was the lone accountant in his firm. He received no compensation for his services but did take distributions (and thus paid $0 in payroll taxes). The district court held that Spicer was an employee and that payments to him were wages. The 9 th circuit affirmed the district courts ruling finding that as the firms lone CPA, Spicer was the only person capable of signing tax returns, performing audits and preparing opinion letters. Thus, his services were integral to the operation of the firm and all payments to him should be considered wages subject to FICA and FUTA tax. Spicer was the president, treasurer and direct of his corporation Spicer Accounting Inc. He was the lone accountant in his firm. He received no compensation for his services but did take distributions (and thus paid $0 in payroll taxes). The district court held that Spicer was an employee and that payments to him were wages. The 9 circuit affirmed the district courts ruling finding that as the firms lone CPA, Spicer was the only person capable of signing tax returns, performing audits and preparing opinion letters. Thus, his services were integral to the operation of the firm and all payments to him should be considered wages subject to FICA and FUTA tax. Sean McAlary LTD, Inc. v. Commissioner of Internal Revenue, T.C. Summary Opinion 2013-62. McAlary was a real estate agent. He was the president, secretary, treasurer and sole director and the sole shareholder of his S-Corporation. He managed all aspects of the corporations operations, and was the only one in the firm that held a brokers license. However, he did supervise eight independent contractor sales agents, four of whom generated sales for him. McAlary paid himself $24,000 per year and took a $240,000 distribution. The IRS determined that $100,000 of the $240,000 as reasonable compensation basing it on the median hourly wage for real estate brokers in California. The Tax Court took an even smaller figure of $83,200 basing it on $40/hour. The key factor here seems to be that while the only shareholder in the S-Corporation, he wasnt the only one producing income. Thus not all of the distributions were wages. McAlary was a real estate agent. He was the president, secretary, treasurer and sole director and the sole shareholder of his S-Corporation. He managed all aspects of the corporations operations, and was the only one in the firm that held a brokers license. However, he did supervise eight independent contractor sales agents, four of whom generated sales for him. McAlary paid himself $24,000 per year and took a $240,000 distribution. The IRS determined that $100,000 of the $240,000 as reasonable compensation basing it on the median hourly wage for real estate brokers in California. The Tax Court took an even smaller figure of $83,200 basing it on $40/hour. The key factor here seems to be that while the only shareholder in the S-Corporation, he wasnt the only one producing income. Thus not all of the distributions were wages. Glass Blocks Unlimited v. Commissioner of Internal Revenue, T.C. Summary Opinion 2013-180. Fredrick Blodgett was the president and sole shareholder of his S-Corp that sold and distributed glass blocks. The firm had no other full-time employees and Blodgett was responsible for all operational and financial decisions for the company. Although he did not receive a salary, Blodgett received $30,844 and $31,644 in distributions from the company in 2007 and 2008. The IRS argued that those entire amounts should be considered wages. The Tax Court agreed finding that any officer who performs more than minor services for a corporation and who receives remuneration in any form for those services is considered an employee, and his or her wages are subject to the employers payment of Federal employment taxes. Blodgett tried to claim that a reasonable salary would have been $15.25/hr for 20 hours a week based on wages for a shipping clerk, an accounts receivable clerk, or an accounts payable clerk. But the Court did not find his argument persuasive, as he performed all of those roles within the company and generated all of the business sales and income for those periods. How to choose My hope is to equip you with enough knowledge and tools to have an effective conversation with your tax or financial advisor of whether an S-Corp is best for you. Service businesses trigger both the reasonable salary requirement and the ability to take the QBI deduction. both the reasonable salary requirement and the ability to take the QBI deduction. Check out the IRS ten-factor reasonable salary test. You can hire someone to help with this. The more above the wage base, the more appealing the 20% QBI deduction. A single-member LLC allows you to save faster with a Solo 401k. Also, keep in mind that you dont have to choose right away. As a single member LLC, you can elect to be taxed as an S-Corp as long as the election is made no more than two months and 15 days after the beginning of the tax year you want the election to go into effect. You make the election on form 2553. You can also withdrawal that election by writing a letter to the IRS regarding your intentions. One final word of caution: do not make these decisions in a vacuum. The savings in self-employment tax and QBI deduction will have to be balanced against one another. Additionally, a change in entity type can have long-lasting implications. We dont know if the QBI deduction will be around after 2025. So talk to your tax and financial advisor to see how these provisions will affect you. | https://www.forbes.com/sites/brianthompson1/2019/02/17/should-i-have-a-single-person-s-corporation/ |
Is JPMCoin A Serious Threat To Ripple? | On February 14, the giant bank J.P. Morgan announced plans to issue its own digital coin," to run on its in-house Quorum blockchain. The coin will be pegged 1:1 to the U.S. dollar, with J.P. Morgan using the considerable heft of its balance sheet to guarantee the peg, so will not suffer the wild fluctuations in value that can make cryptocurrencies unreliable for payments. It is thus what in the crypto world is known as a stablecoin, not a cryptocurrency a digital token that represents a fiat currency. Exactly what impact JPMCoin will have on the cryptocurrency landscape is unclear. Opinion is divided between those who think that JPMCoin is a serious threat to Ripple and, to a lesser extent, Bitcoin and Ethereum, and those who think it is a non-event. Well, it all depends how the coin is used, and who uses it. In a useful Q&A, Umar Farooq, J.P. Morgans head of Digital Treasury Services and Blockchain, explains how J.P. Morgans customers would use the coin: When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalent amount of U.S. dollars, reducing the typical settlement time. This sounds much like Ripples xRapid, which uses the cryptocurrency XRP as a bridging currency. To send money using xRapid, a customer exchanges fiat currency for XRP, the XRP is transferred, then the recipient redeems the XRP for fiat currency. The difference is, of course, that XRP is not a stablecoin. It is a traded instrument whose price can and does fluctuate widely. In todays fast FX markets, the price can change even in the 3-4 seconds that it takes to execute the payment. J.P. Morgan is clearly promoting its coin as having exchange rate stability that XRP, like other traded coins such as Bitcoin and Ethereum, does not have. Its not immediately apparent that this is its goal. Firstly, JPMCoin will at least to start with only be used for payments entirely in U.S. dollars, unlike xRapid which can handle multiple currencies and cross-currency payments. Secondly, JPMCoin is again to start with only available to J.P. Morgans institutional clients. They can use the coin to send money between themselves, but not to retail customers or to non-customers. Its thus a very limited enhancement to J.P. Morgans in-house payment rails. This tends to support the argument that JPMCoin is merely marketing hype. After all, payments between J.P. Morgans customers are really only transfers across its own books. It seems a bit sad that cash-strapped IT departments have to say "look, it's blockchain" to persuade board directors to throw some money at settlement plumbing, always a pariah compared to fancy front-office systems. But from the point of view of J.P. Morgans customers, this is simply a long overdue improvement to the banks extremely expensive and very clunky cross-border payments systems. As Farooq observes (quoted in CoinTelegraph), this could be particularly beneficial for a large institutional client with overseas subsidiaries, which at present can only move money around its organization using external payment rails: Money sloshes back and forth all over the world in a large enterprise. That way, they can consolidate their money and probably get better rates for it. It's completely ridiculous that customers of J.P. Morgan have to use SWIFT and Fedwire to move money around within their own organizations. J.P.Morgan should have sorted this out long ago. As should other major banks. Nevertheless, JPMCoin is a slap in the face for Ripple. Brad Garlinghouse, Ripples CEO, is on record as saying he expects major banks to adopt xRapid, along with the XRP token, in 2019. Now, J.P. Morgan - unquestionably a major bank - has told Ripple no way are we using xRapid or XRP. And it doesnt mean only for internal transfers. The banks Q&A says it intends its coin eventually to be used for payments in multiple currencies and across other blockchains. That would make it a solution for cross-currency payments to non-customers exactly the market that Ripple is aiming for. Even if the coin remained limited to J.P. Morgans institutional clients, JPMCoin would still threaten Ripples plans. According to J.P. Morgans Farooq, pretty much every big corporation is our client, and most of the major banks in the world are too. The U.S. dollar is used for the majority of global transactions. Even before JPMCoin hit the news media, Ripple's plans to recruit major banks looked over-optimistic to the point of incredulity. Major banks currently control international payments. And the need for such a network to facilitate payments between customers of different banks is no obstacle. Banks will cooperate when it is in their interests to do so. Indeed, that is how SWIFT came to be, and the FX bank CLS, and in the UK, the LINK network of ATMs. So it's entirely possible that banks might cooperate to create their own blockchain-based international payments network. Indeed, in a particularly nasty twist of the knife, the major banks could even use Ripple's own innovation. Ending Ripples dreams of world domination, and indeed those of other digital coin issuers, might therefore be exactly what J.P. Morgan has in mind. It will be interesting to see how this little stand-off develops. | https://www.forbes.com/sites/francescoppola/2019/02/17/is-jpmcoin-a-serious-threat-to-ripple/ |
How do I cope when my daughter is having major surgery? | Open this photo in gallery Este Preda/The Globe and Mail First Person is a daily personal piece submitted by readers. See our guidelines at tgam.ca/essayguide. Ive studied the X-rays, trying to be objective. They reveal three rods and 30 screws. The screws bite into bone at regular intervals, their threads visible. The rods fence the spinal column, although one rod extends lower and angles away, suggesting a train track veering off course. A casual viewer might notice the craftsmanship evident in perfectly placed screws or admire the artistry of the body, a visual ostinato played in vertebrae and disc. Its hard for me to appreciate the precision or the beauty. I see foreign material, the aftermath of invasion. The screws appear to be everyday fasteners used to hang a picture, but theyre inside my teenaged daughter. Story continues below advertisement In fact, there are 29 screws, but I round up. Maybe I think that stating the exact number makes me sound like a neurotic mother. Ive struggled to understand the boundaries of my role, in the events and in the telling of the events. The scalpel didnt pierce my skin. A parent can feel her childs pain, but only in translation. Is scoliosis a condition or a disease? she asked, when first diagnosed. She was 11. The Scoliosis Research Society calls it a deformity. Deformity is a deformed word, ugly and harsh, like defect. People rarely speak any more of birth defects. We live in an age that values the person over the ailment, at least linguistically, but the shifting ethos hasnt reached clinicians, who toss deformity and defect into examination rooms with practised ease, appearing not to notice the emotional explosions. I concede that a doctors need for accuracy trumps delicate feelings the angle of the screw must meet specs, after all. I can accept the incoming terminology, some days. A year before the surgery that implanted titanium in her spine, my daughter underwent a Chiari decompression. That procedure creates space where nature did not provide it. A piece of skull was removed to accommodate her growing brain and ease the pressure of pent-up spinal fluid. My daughter had brain surgery, a reality I tried to forget throughout that first hospital stay. And then, the scoliosis procedure posterior spinal fusion. Posterior meaning rear, but I prefer to think of posterity, a loose notion of future generations. Now she carries two scars into her future: one parting her hair at the nape and another running from between her shoulder blades to her tailbone. Marks on her body, a record of trials endured. Not deformities. Her first treatment was bracing. A brace is no cure, just an incredibly uncomfortable container designed to keep the curve from getting bigger. Made of thin, hard plastic cast from the patients torso, the brace suggests a dressmakers dummy with more physics. My daughters brace caged her from breastbone to hip, compressing the skin, torquing the spine to counter the force of her own growth, 22 hours a day. That was the ideal regimen, at least. I doubt most patients wear the brace as prescribed, and she was no different. Still, she served hard but spirited time in her brace, choosing a blue camouflage pattern for the device, which she named Alistair. If only Alistair had worked out. Doctors tracked the progression of her curve at each clinic visit, when she was X-rayed anew. The Cobb angle increased steadily, although experts threw out varying figures. Even on the day of the operation, a doctor told us that the radiologist had measured her curve at 80 degrees, but he believed that it had reached 100. The number was something my husband and I bandied about during the years of treatment, as if we knew what we were talking about. We had hoped to avoid surgery, but images defied us. There was no denying the curve corrupting the upper thoracic, nor the twisting ribs that jutted on one side. Toward the end of her braced period, anyone who saw our daughter in a bathing suit would gasp. She listed to the left, her waist marked by a fold of skin at the sideways bend. Story continues below advertisement Story continues below advertisement She had the posterior spinal fusion surgery when she was 14. Early in the morning, we kissed her goodbye after signing off on a list of life-threatening risks. She looked tiny and pale gliding away on the stretcher. I cried when they took her. My husband and I roamed, unable to settle. In the surgical waiting room, patient surnames flipped across a giant board: In Holding, In OR, In Recovery. People came to the board and stared up as if checking on a delayed flight. We killed time in the cafeteria, sending text-messages to relatives. We slept in our car in the parking garage, which was hot and smelled of exhaust. I slept again later, sprawled on a bench while rush-hour commuters stampeded past. Trapped in the hospital, wrecked and fearful, I didnt care. Sleep came, full of mercy. Twelve hours passed before we saw her again finally In Recovery. Though groggy, she grabbed our hands, me on one side, her father on the other, and managed a wry complaint: Remind me again why I cant have any water. Our beloved returned to us. She didnt yet know what we knew about her insides. The head surgeon had approached us for a huddle, as the surgery continued without him. Leaning against a wall, he called the X-rays to his phone, swiping the screen. First, the before picture: Note the rigid deformity, he said. Anyone could see it, but the crisis had been averted. That was his message, the news we longed for. The proof was in the after image: a spine held in check by hardware, corrected by medical science. The surgeon was pleased. In the corridor we viewed screenshots of our childs bones while she slept on the operating table and someone closed her up. We marvelled at her new condition, straight as three rods and 30 screws. Story continues below advertisement Laura Rock Gaughan lives in Lakefield, Ont. | https://www.theglobeandmail.com/life/first-person/article-how-do-i-cope-when-its-my-daughter-whos-having-major-surgery/ |
Does Sacramento State have a hazing problem in Greek life? | News of a Sacramento State fraternity allegedly hazing its prospective members and abusing active members spread across the country last week. The university started investigating Delta Chi after receiving a photo of four pledges doing a modified elephant walk which typically involves men marching in a single-file line while holding the genitals of the man behind them then sent the fraternity a cease-and-desist order after video of an active member bound to a wood table and gagged was shared with the media. The allegations come a month after Pi Kappa Alpha fraternity was reinstated at Sacramento State. Pi Kappa Alpha was placed on probation in February 2018 after a Snapchat video surfaced of a pledge vomiting from intoxication and appearing to have a seizure, the student newspaper The State Hornet reported. Sacramento State then removed its recognition of the fraternity after its members violated their probation, only to reinstate the recognition in January with a probationary period running through May, university spokesman Brian Blomster said Wednesday. Sign Up and Save Get six months of free digital access to The Sacramento Bee Lambda Sigma Gamma, a sorority that focuses recruitment efforts on minority students, is also under investigation amid allegations it violated an undisclosed section of the universitys student organization handbook, Sacramento State interim director of student organizations and leadership Nicki Croly said. The recent headlines are a change for Sacramento States Greek life, which doesnt have the hard-partying image often associated with some other California universities. Were not a party school, said Beth Lesen, associate vice president for student affairs and dean of students. If thats what youre looking for, Im not sure that youd wind up at Sac State to begin with. Youd probably pick some campus that has more of a reputation for being a party institution. About 1,400 Sacramento State students (roughly 4.7 percent of the student body) are involved with Greek life, a number that has barely fluctuated over the last five years, according to university statistics. For comparison, 12 percent of Chico State and 18 percent of California Polytechnic State University, San Luis Obispo students belong to fraternities or sororities. Sacramento States 16 fraternities and 21 sororities average 34 members per chapter, though some sororities have more than 100. There are no classic brick-and-ivy frat mansions; Alpha Phi sorority is the only Greek organization with a lettered house, a midtown Victorian. Most students who join Sacramento State fraternities have fantasized about doing so before they even get to campus, Lesen said. That means they likely got their inspiration from hedonistic movies such as Neighbors, said David Easlick, a Michigan lawyer and hazing expert witness who served as executive director of Delta Kappa Epsilon for more than 20 years the same fraternity that had nine Louisiana State University members arrested on hazing-related charges Thursday. More than 95 percent of fraternities nationwide engage in practices that meet the Fraternal Information and Programming Groups definition of hazing, Easlick estimated. That ranges from road trips and engaging in public stunts and buffoonery to physical shocks and forced alcohol consumption. Its getting much, much, much worse ... its wanton servitude and so alcohol- and drug-imbued that I dont even know how to deal with it sometimes, Easlick said. Its gotta stop, or if it doesnt stop thats the end of the fraternities. Local fraternity Xi Phi Chi was suspended from Sacramento State in 2015 after school officials found pledges were tasked with completing a scavenger hunt including used womens underwear, a large sex toy and a photo showing pledges drinking with bums, The State Hornet reported. Nationwide, 19 fraternity pledges have died from hazing in the last 10 years, including students at Fresno State and the University of Nevada, Reno. Lesen and Croly defended Greek lifes role on Sacramento States campus, noting that its members combined to provide more than 31,000 hours of community service last year and raise nearly $200,000 for various charities. Members regularly develop lifelong friendships through fraternities and sororities, Lesen said, and turn to their chosen brothers and sisters to handle lifes curveballs. I would think that its worthwhile to keep them on campus just for the support they provide each other. That would be a good enough reason, Lesen said. But the 31,000 hours of community service is no joke. Our entire Sacramento community benefits from this group of people, and the money going to charity is a serious bonus. The Greek community could very well expand in years to come as Sacramento State tries to better engage students in campus life and veer away from its commuter school reputation. Hundreds of millions of dollars have been poured into seven new student housing complexes expected to open by summer 2021, which should provide an additional 4,000 beds around Folsom Boulevard and Highway 50. Croly said she had no preference whether the Sacramento States Greek system grew or shrunk so long as it followed the student bodys natural course of interest. President Robert Nelsen, who has not yet publicly acknowledged the Delta Chi or Pi Kappa Alpha incidents, declined to comment about the universitys Greek life. In its efforts to develop campus life, Sacramento State may want to consider a Greek row or Greek-only dorms with resident advisers in every building, Easlick said. Such a decision would surely be met with pushback from members intent on keeping their chapters secrets, but hazings current frequency necessitates some sort of adult involvement, Easlick said. Lesen, however, doesnt see hazing as pervasive. Pledges are required to complete a standardized Sacramento State new member education program prior to initiation and can call (916) 278-6595 to report hazing violations. National organizations also often have ways to report hazing within specific chapters. We dont have rampant hazing to my knowledge, Lesen said. Im confident that when something happens, theres a pretty high likelihood that someones going to come forward with it. | https://www.sacbee.com/news/local/education/article226104015.html |
Why cant Canadians relax on their vacation? | Just like Netflix famously instituted, my husbands company now has an unlimited vacation day policy. In theory this sounds fantastic, but in reality, he takes even less time off than he did before. Cunning move, corporate world! Worse yet, when he does take those precious, oh, I dont know, 10 days a year, hes checking email daily. Hes not alone. Im tapping away on a keyboard right beside him. But its not just us. A new study reveals half of Canadians say they check their office emails while travelling on vacation. So much for getting away from it all. The results were gathered in a survey of Canadian travellers by Allianz Global Assistance Canada, a leading provider of travel insurance and assistance services, which asked Canadians about their travel habits. The survey revealed men are more likely to check their work emails than women (54 per cent versus 44 per cent), but the biggest differentiators were associated with age. Some 72 per cent of Millennials say they check their work emails while on vacation, compared to 42 per cent of GenXers and 32 per cent of Baby Boomers. My own highly unofficial poll on Facebook revealed the majority of my friends (mostly GenXers) felt better if they checked their inbox on vacation. I find it much easier to spend 20 to 30 minutes a day on work email than come home to hundreds of unread messages. That makes my return to work much happier and I dont have a sense of dread about going back, admits Jane Leckey, a Toronto-based communications adviser. For others, its too stressful to take a peak. Instead of peace of mind, scanning their inbox sends their minds racing. These brave travellers recognize their need to disconnect. If youre highly disciplined, you could set a time limit, knowing theres a difference between checking email and responding to it. Not bringing your laptop or smartphone is another option, but one that admittedly strikes fear in my heart. Not so much. Besides all the apps, I like knowing I can connect with family, friends and yes, even work should I choose to do so. And if Im being really honest, Ill admit my phone has become my security blanket when exploring unfamiliar territory. Beyond capturing and sharing amazing travel memories, our smartphones are a valuable aid in a travel emergency. Our assistance centre in Kitchener, Ont., receives approximately two million calls every year from Canadian travellers in need of medical or travel assistance, says Dan Keon, vice-president, market management, Allianz Global Assistance Canada. Having your smartphone available while travelling makes it that much easier to reach us if an emergency unexpectedly arises. The reality is, work-life boundaries are a blur. Worse case, see if you can take time in lieu, scheduling a day off within a week of your return to make up for what you lost on your vacation. Technology is a blessing, but its also made it all too easy for work to invade our play, even on the other side of the world. Understanding yourself and your travel companions expectations is an important factor in a balanced vacation, whatever your definition of balanced is. Ive come to accept Im not going to change my husbands tendency to check in, and thats OK. What I learned from this survey, is that whether we choose to disconnect completely or check in from time to time, were not alone. Tips for stress-free travel Practice a dry run, by not accessing your work email for an entire weekend. If that feels more stressful than checking in, go ahead and plan to check email on your trip. Read Bon Voyage, but This Government of Canada doc gives advice on how to register at an embassy abroad, what to do if you lose your passport and provides travel health information. The government also recommends purchasing the best travel insurance you can afford, as Canadian health insurance wont cover your medical fees while youre outside Canada. Visit a travel health clinic or an injection certified pharmacist to find out what vaccines or medications are needed prior to travel. Cabin baggage rules and fees have recently changed on many airlines. Check with your carrier before heading to the airport. You may also be interested in reading: How to breeze through airport security 6 Tips to avoid travel theft | https://calgaryherald.com/travel/why-cant-canadians-relax-on-their-vacation |
Could Rob Brant Vs. Jeff Horn Be Headed Down Under For A Summer Title Fight In Brisbane? | Rob Brant was impressive on Friday night as he successfully defended his regular WBA middleweight title against Khasan Baysangurov by an 11th round TKO in Hinckley, Minnesota. Prior to the main event, when ESPN analysts Joe Tessitore, Timothy Bradley and Mark Kriegel were talking about the middleweight division and what could be next for Brant, out of nowhere, Manny Pacquiao conqueror, Jeff Horn was mentioned as a possible opponent for Brant to take place during the summer in Brisbane, Australia. It was also made known that Brant would automatically become the WBA mandatory for the winner of the Canelo Alvarez vs. Daniel Jacobs fight on May 4. THE SETUP As I was getting ready to live blog the Brant vs. Baysangurov fight for Forbes, I didn't give the Horn reference much thought until as if right on queue I received a text message from Jeff Horn's promoter, Dean Lonergan. "Hey mate, how long before the Brant fight starts?" My initial response was to send the link to the live blog so that I can get back to the issue at hand and Lonergan could follow my blog in order to follow the fight, however, I couldn't leave it at that. I needed to know if Brant vs. Horn was really in motion, especially after the ESPN analysts had talked about it as an option. It wasn't far fetched. Lonergan has a good relationship with Top Rank and specifically, Bob Arum. They had already teamed up for three big fights in Pacquiao vs. Horn, Parker vs. Ruiz and Horn vs. Crawford. In addition, it wasn't a mistake that Horn's name was dropped into the broadcast. If Horn's name was mentioned, it's because the conversation for Brant vs. Horn was already underway. I began a simultaneous text conversation with Lonergan while live blogging the fight. I immediately asked Lonergan if there were formal conversations taking place for Horn to face Brant in Brisbane. Knowing Lonergan for quite some time and having done business with him, I knew I had to drop some bait in the water to get the information I was looking for. So I sent a text message simply saying, "Brant becomes mandatory for Canelo if he wins." Before I could put the phone down to get back to the live blog, Lonergan replied, "Really?" Then after being grilled by Lonergan as to what I have heard and from whom, I simply told him it was mentioned during the broadcast, but at this point, I now knew the conversations were real. So as the night went on and I was keeping Longergan up to date on the Brant fight, we talked about the reality of Brant traveling to Brisbane to face Horn. SHOW ME THE MONEY The truth of the matter is that this sport is still called prizefighting. These fighters don't put themselves in harm's way for kicks. They like to get paid. Kudos to Rob Brant for winning the WBA regular middleweight title against Ryota Murata in October putting on an outstanding performance in doing so. Especially as the underdog. In addition, he put on an impressive performance against Baysangurov on Saturday night with another solid win, this time in front of his hometown fans in Hinckley, Minnesota. But here's the reality. No matter how you slice it or dice, not taking anything away from Brant, but Canelo Alvarez is the WBA middleweight champion of the world. The fact that we're actually in this day and age having to refer to the WBA's titles as regular and super is perplexing. But that's another story. Here's the bottom line. It could possibly take at least a year for Brant to even sniff that mandatory against the winner of Canelo vs. Jacobs. It's simple. There's only one logical option. Jeff Horn. Brant should be hoping right now that Top Rank and Dean Lonergan can find a way to make it work because this is going to be a massive payday for Brant against an opponent who is going to be fighting two weight classes above where he fought Manny Pacquiao and Terence Crawford. SIGN ME UP Jeff Horn is the type of fighter who doesn't care who he fights. After losing to Terence Crawford in June 2018 by TKO, Horn bounced back with a crushing first round knockout victory over former world champion, Anthony Mundine at middleweight. I asked the former WBO welterweight champion what he thought about Brant's win on Friday night. Horn said, "Brant looked big and strong in his fight. He was able to box well off the front and back foot. He threw a lot of punches." When asked about what he felt about fighting Brant, Horn responded, "He is a dangerous opponent and would be a risky fight for me. He is awkward so he is the type that looks bad but is hard to deal with in there. I do think I have the skills to beat him but it might not be pretty." When asked about where he sees weakness in Brant's fighting style, Horn said, "The combos he throws can be hard to deal with but if you time it right he can be hurt." Horn added, "Because he throws lots of punches and leans in. It generates power but overbalances him." The landscape of the middleweight division, especially in the WBA is such that there really isn't another name that Brant could fight while waiting for his mandatory that will provide him with the type of purse he can receive by going down under to face Horn. Lonergan and crew already packed 50,000 fans in Suncorp Stadium for the Pacquiao fight in 2017 and 30,000 fans paid to see Horn vs. Mundine at the same stadium last year. Brant's in a unique position. He has the opportunity to cash in against Horn and be the odds on favorite to leave Brisbane with his title, just in time to face the winner of Canelo vs. Jacobs. This should all unfold within the next few weeks. If this fight manifests, it's a win-win for both Brant and Horn and is definitely a fan-friendly matchup. | https://www.forbes.com/sites/peterkahn/2019/02/17/could-rob-brant-vs-jeff-horn-be-headed-down-under-for-a-summer-title-fight-in-brisbane/ |
Is an HSA a Good Place for My Retirement Savings? | Everyone knows about 401(k)s and IRAs, but there's another vehicle for retirement savings that's been getting a lot of attention lately: health savings accounts (HSAs). Most people think of HSAs as a tax-advantaged way to save up for future medical expenses, but they have a lot more to offer. Here's a closer look at how they work and how you can use an HSA to supplement your retirement savings. To be eligible for an HSA, your health insurance policy must be a high-deductible health plan (HDHP). This is defined as a plan with a deductible of $1,350 or more for individuals or $2,700 or more for a family. Once you've enrolled in the plan, you can open an HSA account with your bank and begin contributing funds. If your employer is offering the health insurance plan, your company may set up an HSA for you as an employee benefit. Single adults can contribute up to $3,500 to an HSA in 2019 while families can contribute up to $7,000. Adults 55 and older are allowed another $1,000 in catch-up contributions. These limits may change from year to year, and so might the minimum health insurance deductible required to qualify for an HSA. It's important to check these limits every year to see if they have risen. You can contribute up to the annual HSA limit every year from the time you open the account until you become eligible for Medicare at age 65, as long as you keep your high-deductible health plan. Piggy bank with HSA block letters next to it More Image source: Getty Images. Any after-tax money you contribute can be deducted from your taxable income for the year. If your employer's health insurance plan comes with an HSA option, you may be able to contribute pre-tax dollars directly to your HSA and your employer may match some of your contributions. However, the total contributions that you and your employer make to your account cannot exceed the annual contribution limits. Some HSAs keep your money in cash while others enable you to invest in mutual funds or other investment products, just like you would with a 401(k) or IRA, to help your savings grow faster. If you choose to invest your HSA, consider allocating the funds in a similar manner to your 401(k) and IRA funds to ensure that your investments match your risk tolerance and investing goals. You may need to save a certain amount before your bank will let you invest the sum. Unlike flexible spending accounts (FSAs), money in your HSA rolls over from year to year, so you keep it until you need to spend it. You can also take your HSA with you if you leave your current job, though you won't be able to make any new contributions unless you keep your high-deductible health plan. You're allowed to take distributions from your HSA at any age as long as you use it for a qualified medical expense -- paying for hospital bills, prescription medications, specialist visits, and other medical costs. And the best part is, you won't pay any taxes on these withdrawals. For this reason, it's a great place to stash emergency cash to help you cover out-of-pocket costs you incur if you become seriously injured or ill. You can also save the money for planned medical expenses, like pregnancy and childbirth, non-emergency surgeries, long-term care, and treatment for mental health or substance abuse. | https://news.yahoo.com/hsa-good-place-retirement-savings-230000669.html |
Could NZ go bananas for tropical crops? | Bananas, so often associated with warm tropical climates on the equator may prove to be another cropping opportunity for enterprising horticulturalists from Northland to Gisborne. New Zealanders have an appetite for the yellow fruit, chomping through a whopping 18kg per capita a year, about $140 million worth that puts this country at top of the global list for banana consumption. The semi-tropical climate of Northland is proving an excellent hub for a band of enthusiastic and increasingly commercially focused banana growers, headed up through the Tropical Fruit Growers of NZ group. Farming on a 40ha property near Parua Bay on Northland's east coast near Whangarei Hugh Rose, head of Tropical Fruit Growers of NZ has a veritable fruit bowl of tropical produce growing. Advertisement Varied varieties of exotic fruit compete for visitors' taste-buds, ranging from pineapples to bananas, dragon fruit, pawpaw and even sugar cane. Head of Tropical Fruit Growers of NZ, Hugh Rose. Photo / Supplied Rose classes bananas as the easiest crop in the world to grow, benefiting from New Zealand's low disease and pest levels compared to the tropics, and capable of producing fruit almost constantly through the year once temperatures exceed 14C. With 17 varieties of the popular fruit growing, there is increasing consumer interest in the New Zealand sourced bananas that have a ready market at about $8/kg through Whangarei's farmers' market. "And with the number of enthusiasts we now have on board, there should be enough bananas growing now for Northland to be self-sufficient in a couple of years." Rose's calculations on potential earnings would make most horticulturalists sit up and take notice. His calculations per hectare with1500 plants a hectare in the ground could easily result in over 15,000kg of bananas a year. Even at $2/kg this returns $30,000 a hectare. And the crop is not necessarily dependent upon traditional views of what sort of climate the fruit usually grows in. "We have growers producing bananas in Invercargill, admittedly under tunnel shelter, but there are growers throughout Northland, Bay of Plenty, down to Gisborne all producing good crops." As a highly water-efficient, funnel-shaped plant they do not require much irrigation, grow well on most soil types and are tolerant to many pests and diseases. The fruit also sits well alongside traditional pastoral activities like dairying. "Dairy effluent is high in nitrogen and phosphate, exactly what bananas love, and the plant just sucks up those nutrients, making it an ideal crop alongside a dairy operation." It is also a source of cattle feed, with all of the plant edible to stock. Pineapples, coffee and a little known Peruvian fruit called lucuma all have potential in the sub-tropical regions throughout New Zealand. Rose is excited by the growing level of experimentation by enthusiasts and the knowledge that is being acquired by them. "Globally consumers' tastes are changing, and we have the ability to grow many of these products, saving on imports and food miles, generating new high value horticultural sectors along the way" Bayleys Whangarei horticulture and lifestyle specialist Vinni Bhula said the appealing climate and supply of smaller scale lifestyle blocks available throughout Northland set the region up well to develop some exciting new produce sectors. "I often get people asking me what else they could do with a small block, other than avocados or kiwifruit. The returns from bananas mean a block has the potential to deliver similar income to a green kiwifruit, so it's an appealing option to consider." He said there was a growing demand for niche crops coming from farmers markets and restaurants that made such options more viable than ever. | https://www.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=12204835 |
Will universities go bust if fees are cut? | Image copyright Getty Images There's a growing expectation that the review of student finance in England, headed by the financier Philip Augar, is going to recommend a cut in tuition fees. The first figure floated, 6,500, seems to have drifted up to 7,500 after complaints from universities - but that would still be significantly less than the current maximum of 9,250. With some universities already facing precarious finances - with borrowing, recruitment problems and emergency bailouts - there are claims that institutions will be at risk of collapsing. Shadow education secretary Angela Rayner says the government needs to "get real about the consequences of a university going bust". What makes universities really nervous is that a reduction in fees will not be replaced by direct funding from the government. Even if funding is promised, it will make universities dependent on the goodwill of politicians, competing with other spending pressures, such as health and schools. Image copyright Getty Images Image caption Universities are worried that a cut in fees will not be replaced by an equivalent in direct funding Nick Hillman, director of the Higher Education Policy Institute and former universities minister special adviser, says the rule of thumb is that every cut in fees of 1,000 will take about a billion away from the current funding stream. If there is a significant cut in per student funding, he says, it will "push some to the wall". As well as a loss of fees, he says universities face a "perfect storm" - with a demographic dip in the number of 18-year-olds and Brexit casting a shadow over recruiting international students. There are universities already on financial thin ice - in debt over new buildings and then struggling when they fail to attract students. And if a university has a terrible year for recruitment, they have three years of teaching that reduced cohort and its smaller income. Dr Greg Walker, chief executive of the MillionPlus group of new universities, warns if funding for students is cut, or there are limits on numbers, there are risks of "significant damage". "Difficult choices could well have to be made," he said. But he said undermining university finances would be a "national own-goal". Sir Anthony Seldon, vice-chancellor of the University of Buckingham, and an influential figure in the politics of education, says there is already a "serious risk that some universities will go under". He warns that the aggressive expansion of some "juggernaut universities" is pushing others out of business. Universities with increasing undergraduate student numbers between 2007-08 and 2016-17 There are a finite number of students - and if some universities take an ever-rising number, others will be left starved of fee income. Sir Anthony attacks a "greedy cohort" for threatening the higher education "eco-system". Figures from the Higher Education Statistics Agency show some universities have piled on extra students, while others have shrunk. Universities with decreasing undergraduate student numbers between 2007-08 and 2016-17 Over the past decade, Exeter University has expanded its undergraduate numbers by 72%. University College London has grown by 65%, York 48%, Bath 46% and Bristol by 41%. But London Metropolitan University has shrunk by 62%, with the University of West London down by 44%, Cumbria by 41%, the University of Central Lancashire by 34% and University of East London by 33%. If this process continues, Sir Anthony says it will threaten the future of some universities. But the University of Exeter rejects the criticism, saying it is "proud of its growth" and expanding has allowed more people to get places, rather than being turned away "because of our lack of space". Ministers and regulators have always kept to the script that they will not intervene. Last week, Universities Minister Chris Skidmore, said: "There is an expectation that in a small number of cases providers may exit the market altogether as a result of strong competition." Image copyright Getty Images Image caption Sheffield is now a city of students rather than steel at the centre of the local economy But Hepi director, Nick Hillman, says the risks of a financial crisis will not be shared evenly, and it's likely to be survival of the biggest. Only smaller institutions would be allowed to fail. Big universities are major employers, anchors of the local economy, and the legal and political fallout from closure would be too toxic, he says. Above a certain size, he says, "the government cannot let a university fall over". A report last week from the UPP Foundation's civic university commission showed universities' pivotal place in regional economies. In Sheffield in 1978, it says "there were 4,000 students and nearly 45,000 people working in the steel industry". "Today there are around 60,000 students and around 3,000 steelworkers." Mergers or take-overs are more likely than shut downs, so that students could carry on, even though the name of the institution might have changed. Image copyright Getty Images Universities, as part of their registration with the Office for Students, have to produce a "student protection plan" showing how students could continue with their studies even if their university or course closed. Even if universities buckle financially, they would still have a long stretch before hitting the rocks. "The capacity to cope with decline can vary," says higher education adviser Louis Coiffait. Some universities could trade for a long time on the value of their assets, such as land or property, with sell-offs giving them enough of a "war chest" to fund a recruitment drive and recovery, he says. Dr Walker says if the review could reverse the decline in part-time students that would mean a significant improvement particularly for new universities. Image copyright PA "The right recommendations could rocket-boost support for prospective students wishing to study flexibly," he says. A switch from fees to direct funding, without an overall loss of budget, could give universities a more stable income, less vulnerable to unpredictable levels of recruitment. But if fees are lowered, perhaps for autumn 2020 or later, there are are fears about a sudden drop in university cash flow, as students would be likely to postpone starting. As such the review is being urged to include a phased approach to any changes. | https://www.bbc.co.uk/news/education-47204922 |
Are the super-rich ruining Burning Man? | Image copyright Getty Images Image caption Part of Black Rock City, the temporary settlement in the Nevada desert where Burning Man takes place For many, Burning Man conjures up images of dust-covered attendees, known as "burners", dancing in the desert cut off from society. The annual arts and cultural gathering in the Black Rock desert in Nevada prides itself on "radical inclusion", "self-reliance" and providing a space for counter-cultural expression. However, grumblings of discontent have been growing in the burner community for a number of years. The increase in so-called "turnkey" or "plug-and-play" camps offering luxury and glamour for the super-rich or Insta-famous has become a source of tension at Black Rock City. Some see these camps as fundamentally opposed to the basic tenets of Burning Man. The lack of effort required by attendees staying in turnkey camps riles many. Burners can spend months preparing to head to the desert, collecting supplies and crafting outfits and art projects. Image caption A group of women at Burning Man in 2003, before the growth of turnkey camps In the wake of the disastrous Fyre Festival, the notion of exclusive Instagram-friendly festivals is in the spotlight and Burning Man has decided to take action. Burning Man CEO Marian Goodell has taken the unprecedented step of withdrawing invitations to one turnkey camp - "Humano the Tribe" - and warning dozens of others. In 2018, the most expensive accommodation at the Humano camp, the Moon Village, cost up to $100,000 according to Mashable and included two bedrooms and "super-powerful AC". A quick search of #HumanoTheTribe on Instagram shows hundreds of posts by models and social media influencers, many tagging brands they are collaborating with. In a blog post, Ms Goodall wrote that she was "stunned" by the growing "commodification and exploitation of Black Rock City and Burning Man culture". "Whether it's commercial photo shoots, product placements, or Instagram posts thanking 'friends' for a useful item, attendees including fashion models and social media 'influencers' are wearing and tagging brands in their playa photos. This means they are using Black Rock City to increase their popularity; to appeal to customers and sell more stuff." Image copyright Burning Man Image caption Burning Man are trying to fight the "commodification" of the event "Black Rock City requires significant investments of time, energy, and resourcefulness," Ms Goodall wrote. "Part of what makes Burning Man unique and powerful is that everyone has to work hard to be there." Ms Goodall's blog post also set out changes to the ticketing process, intended to prioritise those who contribute to the event. Burning Man's 10 principles Radical inclusion Gifting Decommodification Radical self-reliance Radical self-expression Communal effort Civic responsibility Leaving no trace Participation Immediacy Greg Reynoso, 29, has been attending Burning Man for almost a decade. In 2018 his camp, which was in the same neighbourhood as Humano, decided to move. "The Humano camp was like a black hole of negativity," Greg told the BBC. "They would ride past on their Segways with their phones and wearing more money than I'll ever make. Not a single person was interested in saying hello or actually taking part." Greg also said that the Humano campers were bad neighbours in other ways. "Placement - the process of designating plots - set strict boundaries for camps. Humano put their generators and containers on another camp's plot. That's a really big no no, but they didn't move it. It was astounding to me." Reflecting on the statement made by Burning Man CEO Marian Goodell, Greg describes his response as "measured positivity". "While Humano was one of the most egregious offenders for flexing their money and having a wanton disregard for the event, they are by no means the only turnkey camps," Greg says. Image copyright Consuelo Ruiz Image caption Greg (R) with some of his campmates in 2017 "To see Marian say she was "stunned" by some of the examples people had, made it feel like she hasn't attended for years. Everyone knows what's been happening." Greg says an important part of Burning Man is the level of preparation it takes. "I have a Word document with all the projects I am working on for this year, and I spend the majority of my free time working on them." Debate has raged online and at the event for years over the influx of turnkey camps and many on social media seemed to agreed with Greg's conclusions. On Reddit, some welcomed the announcement as "good news" and hoped it would act as a "warning shot" to other camps. Skip Twitter post by @WolfRiverArt Absolutely thrilled that you are doing something about the commercialization and materialistic opportunists that has infected the experiential community of Black Rock City. This has been a problem for many years, and It is way past time to clean house. Thank you so much! Wolf River Artifacts (@WolfRiverArt) February 9, 2019 Report Others were more sceptical. One user wrote: "This kind of top-down social engineering doesn't really work. The nature of the festival reflects the general culture of the US and world." Another suggested that the organisers "let things get this far because it made them money and fame and didn't affect the brand too much... the brand has suffered and this is an attempt at repair". While another questioned if action will be taken against "the companies carting models out there for commercial photo shoots". "Arguably the biggest loss is the freedom people feel on playa to express themselves," one user wrote lamenting the increase in photography at the event. "As cameras are becoming so common it makes a lot of burners wary." The BBC has contacted Humano the Tribe for comment. More on Burning Man | https://www.bbc.co.uk/news/world-us-canada-47203978 |
Is AI Making Us All Data Hoarders? | Today the emphasis on AI is nearly all about machine learning and a form of machine learning called deep learning. We see folks everywhere creating data lakes about to be data oceans that we are going to boil later. Meanwhile we have to pay homage to expensive Data Czars and Data Scientists because we want to keep more data for the future and somehow AI will make sense of it later. Im not so sure this is a strategy that will lead us to be competitive with others in the world. Lets turn our wonderful machine learning AI and scarce Data Scientists onto these sources first to get some real outcomes to build on for the future. The Data Czars would be glad for some guidance and prioritization as their job is near impossible right now and it is going to get worse as data volume and types are growing exponentially. Even better if we could focus on the data that would create better customer or employee assistance and experiences. Experiment in a Focused Fashion Now that the data ocean is a data pool, lets research how this kind of data can be used to out maneuver others in the industry that want to command the future. Scour the industry groups and even let AI mine text for new and appropriate approaches. This is where our Data Scientists can leverage their skills to find combinations of AI and Algorithms to solve some critical problems for us. This is a decision driven experimentation effort that is operated in a somewhat constrained sandbox. If a solution is identified, it is known to solve a critical issue related to important business outcomes. Adapt While Learning Few of us are that brilliant and get it right the first time, always. This means there will be adaptations and corrections going on that will tap new data sources that are related to the problem set an organization is focused on at the moment. If these are done in parallel, the problems can be done in isolation and solved for critical outcomes. There will likely be some integration issues later, but creating an architecture for those integrations will save time on the back end. The fact that these are focused and critical outcomes will pay for some of those integration efforts. Why not in start with known success factors and work back to the data to save for AI and poly-analytics to assist us with brilliant outcomes. In parallel we can collect additional data especially as we learn from our active experimentation and adaptation. I think a cup of relaxing TEA (The acrostic for the approach above) might be the better approach. Just saying. Dont be a data hoarder. | https://www.forbes.com/sites/cognitiveworld/2019/02/17/is-ai-making-us-all-data-hoarders/ |
What does Mizzous loss to UT mean for the NCAA Tournament? | The momentum from Missouris upset at No. 5 Mississippi State lasted all of three days. After winning in Starkville, Miss., on Thursday, the Tigers (19-8, 8-5 SEC) fell 62-60 to Tennessee (17-8, 6-6 SEC) Sunday night, hurting Missouris chances of hosting games in the first two rounds of the NCAA Tournament. Amber Smith led Missouri with 14 points while Sophie Cunningham and Cierra Porter each had 13. How much this loss hurts depends upon who you ask. ESPN bracketologist Charlie Creme tweeted shortly after the game that he doesnt think it changes Missouris situation. Sign Up and Save Get six months of free digital access to The Kansas City Star Obviously, a huge win for @LadyVol_Hoops , one they really needed and given the state of the bubble it many end up being exactly the only one they need. The loss doesn't hurt Missouri at all given the losses by Michigan St and Texas today. Charlie Creme (@CharlieCreme) February 17, 2019 The loss doesnt hurt Missouri at all given the losses by Michigan St and Texas today, Creme tweeted. The Tigers were a No. 7 seed in Cremes mock bracket last Monday but will likely move up a seed after their upset win over the Bulldogs. While hosting may be a long shot, Missouri can still get up to a No. 5 seed if the Tigers win out in the regular season. Missouris situation was already going to be up in the air given that the Tigers likely had to run the table and maybe win a game or two in the SEC tournament. The Volunteers hung with the Tigers for most of the game and took a two-point lead with 52 seconds left on a pair of free throws by Rennia Davis. The Tigers missed a three-point attempt on their following possession and then turned it over after a UT player kicked the ball and it wasnt called. Officials cant review plays for possible kicked balls. After a defensive stop, Missouri still had a chance to tie or win the game when Sophie Cunningham drove to the basket and kicked out to Akira Levy. But Levys three-point attempt rimmed out. Pingeton didnt think Missouris defensive stop changed the officials impact on the end of the game. I think it was a pretty big call, she said. Missouri got the ball back with three-tenths of a second left, and while Jordan Chavis half-court heave went in, it was well after the final buzzer sounded. Pingeton said she thought Chavis knew that there wasnt enough time on the clock to dribble, but she dribbled once before shooting. Tensions ran high the last time Missouri played UT, a game that ended in a 66-64 MU win. Missouri guard Lauren Aldridge was accused of clapping in Vols coach Holly Warlicks face, and one of UTs assistants refused to shake Cunninghams hand in the post-game line, which led to an exchange of words between the Columbia native and UTs players. The incident led to multiple former UT players calling out Pingeton and Cunningham on social media, which surprised Missouris coach. Warlick said she never was upset at Missouri after the Tigers win in Knoxville and echoed Pingetons words. Im worried about losing basketball games, Warlick said. I dont have social media. I dont worry about it. | https://www.kansascity.com/sports/college/sec/university-of-missouri/article226420025.html |
Could we be blessed enough to witness Pablo Sandoval on the mound more? | originally appeared on nbcsportsbayarea.com SCOTTSDALE, Ariz. - One of the many disappointing parts of the 2018 season was the fact that a hamstring injury cost Pablo Sandoval the chance to play all nine positions in a game in late September. Bruce Bochy wanted to make it happen, and during their first conversation ahead of the 2019 season, Sandoval reminded his manager of his versatility. Scroll to continue with content Ad Sandoval volunteered to be the third catcher for a second straight year, and as he did last spring, he will catch a few bullpen sessions. "It's just to keep the cobwebs from getting too big on him," Bochy said. Sandoval again volunteered to play some second base if needed. And, of course, he reminded Bochy that he can pitch and would like to pitch. "He's perfect, and he wants to do it," Bochy said. "He showed he's pretty good at it." But "I hate to think of him pitching again," Bochy said. That's because Bochy doesn't want to be in that position. He never used a position player on the mound until last season, when he was in such a bind on two occasions that Sandoval and Chase d'Arnaud both took the mound. Bochy hopes a situation is never that dire this year. He also doesn't want to think about Sandoval playing all nine positions, because that would mean the Giants have meaningless games in September. If the Giants are to stay in the race, Sandoval could end up being a nice piece. Farhan Zaidi likes versatility, and Sandoval can handle significant time at first and third. He can play second in a pinch. Zaidi also likes platoons, and Sandoval's splits have intrigued him. He had a .816 OPS against right-handed pitching last season with eight of his nine homers. Story continues The Giants have Evan Longoria and Brandon Belt locked in as everyday players on the corners, but as they look to exploit every advantage, Sandoval may see more time in certain situations. He fits a lot of what Zaidi looks for. "He gives you options," Bochy said. | https://sports.yahoo.com/could-blessed-enough-witness-pablo-201827632.html?src=rss |
Did Japan's PM nominate Trump for the Nobel Peace Prize after president asked him to? | Donald Trump's administration asked Japan's prime minister Shinzo Abe to nominate him for a Nobel Peace Prize after he and North Korean dictator Kim Jong-un met for a historic summit, according to a Japanese newspaper. On Friday (US time), Trump boasted during a White House Rose Garden press event that Abe had handed him "the most beautiful copy" of a five-page letter about the nomination but concluded "I'll probably never get it", the Daily Mail reported. The request came months after the Trump-Kim summit in Singapore on June 12, according to the newspaper Asahi Shimbun. Abe ultimately submitted Trump's name, citing his efforts to defuse decades-long tensions on the Korean peninsula. Advertisement "He said, 'I have nominated you, respectfully, on behalf of Japan. I am asking them to give you the Nobel Peace Prize'," Trump told reporters. "I said 'thank you'. "Many other people feel that way, too. I'll probably never get it. That's okay,' he said. Abe and his chief spokesman declined to say if the PM nominated the US President for the prize. Abe noted while speaking in Parliament on Monday (Japan time) that the Nobel committee does not disclose the parties behind nominations for a half-century. He said, "I thus decline comment." The government's top spokesman, Yoshihide Suga, told reporters that Japan highly valued Trump's efforts on North Korea's nuclear disarmament, but he echoed Abe in refusing other comment. The Japanese newspaper Asahi Shimbun reported on Sunday, citing unnamed government sources, that Abe nominated Trump's at the president's request. It's unclear how common it is for governments to lobby each others' leaders for award endorsements. The Japanese Embassy in Washington did not respond to a request for comment on Sunday. The White House did not immediately respond to a request for comment. Trump has made strides in opening talks with North Korea, saying consistently that the hermit kingdom's belligerence should have been countered by his predecessors. Last year's meeting was the first between a sitting American president and a North Korean head of state. A spokesman for Japan's Foreign Ministry in Tokyo told Reuters that it was aware of Trump's remarks but "would refrain from commenting on the interaction between the two leaders". The Nobel Foundation's website says a nomination for the Nobel Peace Prize may be submitted by any person who meets the nomination criteria, which includes current heads of states. The former non-voting secretary of the Nobel Peace Prize committee said in 2015 that members regretted giving the prestigious award to former president Barack Obama in 2009, less than a year into his first term. Geir Lundestad told the Associated Press that the committee had hoped the prize would strengthen Obama, but instead it was met with ridicule since he hadn't yet had a significant impact on global affairs. "No Nobel Peace Prize ever elicited more attention than the 2009 prize to Barack Obama," Lundestad wrote in his memoir. "Even many of Obama's supporters believed that the prize was a mistake. In that sense the committee didn't achieve what it had hoped for." Trump noted on Friday that "they gave it to Obama". "He didn't even know what he got it for. He was there for about 15 seconds and he got the Nobel Prize. He said, 'Oh, what did I get it for?'" The anecdote came as he hailed Pyongyang's "tremendous" economic potential and his "great relationship" with Kim ahead of a second scheduled summit between the two leaders late next week. Trump also took a second dig at Barack Obama, suggesting his predecessor had been close to going to war with the nuclear-armed state. Recalling a conversation he had with Obama shortly before his inauguration, Trump said: "I don't want to speak for him but I believe he would have gone to war with North Korea. "I think he was ready to go to war, he told me he was so close to starting a big war with North Korea. No missiles, no rockets, no nuclear testing. "We've learned a lot. But much more importantly than all of it much more important, much, much more important than that is we have a great relationship. I have a very good relationship with Kim Jong-un. And I've done a job." | https://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=12205000 |
Why would a young GP move to a rural region? | Image caption Anna Roberts said she ended up in Dumfries by accident but would encourage others to follow her You might rely on Anna Roberts in a medical emergency but possibly not a geographical one. The 30-year-old - who grew up in Edinburgh and studied medicine in Aberdeen - freely admits it is not her strong point. That was how she became a GP at the Charlotte Medical Centre. "I accidentally ended up in Dumfries about seven years ago," she said. "When you finish your medical training you do two foundation years - I did my first year in Glasgow, my second year in Dumfries. "I thought Dumfries was just south of Glasgow and then I watched the weather and saw a map and discovered that there is quite a lot south of Glasgow." Image caption Dr Roberts works at the Charlotte Medical Centre in the town Despite adding a few miles to her journey, however, she has no regrets and advises anyone thinking of heading south not to hesitate. "I was just pleasantly surprised by how nice an area it was," she said. "They should definitely come and try it." NHS Dumfries and Galloway is not alone as a rural region facing difficulties with GP numbers with a "significant number" of retirements in recent times. While many of them continue to help in a locum capacity, the total headcount has still fallen by more than 5% in the space of less than two years. The health board has a number of initiatives to try to tackle that, but Dr Roberts said there were definitely still issues to overcome. "A lot of people just don't really know very much about Dumfries and Galloway or the fact that it exists," she said. "I think it is very easy to get into that central belt mentality - and I was definitely guilty of that as well." However, after she made the move she said it was nice to develop mutual trust and respect with colleagues "rather than being an anonymous person in a big city". 'Different lifestyle' Image copyright Big Burns Supper Image caption A growing festivals scene is an attraction for the region, according to Dr Roberts One obstacle to GP recruitment, Dr Roberts said, could be securing employment for a partner - particularly if they have a different profession. "If they are medical - and we have quite a few medical jobs going down here - then that's fine but there is not the same kind of young professional level in Dumfries as there is in a big city," she said. "You don't have all the big companies that you do there and that is not anything that we can fix. "That is definitely a challenge - part of it is just not knowing what is available outside the central belt." Image copyright Galina Walls Image caption Celebrations like Guid Nychburris are not something Dr Roberts was used to in the city However, she said there were lots of other attractions. "It is a different lifestyle you can be outdoors really quickly here, there's loads of big mountain biking stuff here, there is quite a big arts scene and there are different festivals that are going on," she said. "There is a much more of a small-town feel to things. "They have got Guid Nychburris day - that was a whole new thing to me coming from Edinburgh, they don't have anything like that. "But I played as part of the town band for a while so I was part of that. "You can just really easily get involved with the community - I am really involved with my local church. "That's been really important for me to have friends that are not doctors as well. "I think if you are willing to branch out from just that medical bubble you can experience so much in Dumfries and Galloway." 'Last man standing' Image copyright Paul McMullin Image caption It is hoped the new Dumfries Infirmary can attract more people in the medical profession However, the Dumfries GP is under no illusion as to the scale of the problem facing the region and other rural areas. "It is really difficult because if a practice is struggling that does not make an attractive place for someone to go," she said. Her own practice lost three partners in a year and went through a "difficult time" before getting back up to full capacity. "If one person joins it makes it more attractive for another person to join - a lot of GPs will worry about being the last man standing," she said. "Where there are lots of retiring GPs that will make it a very difficult thing to recruit unless you get a few people that go in together and say: 'Actually, we are going to change this and we are going to be the young GPs there.'" GP situation in Dumfries and Galloway 108 full-time or part-time GPs in January 2019 (down from 115 in April 2017) 1,922 people per whole time equivalent GP 17% GPs aged over 55 who could retire soon 15,200 expected increase in people aged over 65 in the region from 2011 to 2037 154,000 approximate number of people registered with GP practices Getty Images She said getting trainees to come down to the area could be a secret to success - something NHS Dumfries and Galloway is trying to address. "When you are in a big city you often feel that you are a number on a rota whereas here you are valued," she said. "I think if we can get people as trainees here then they are more likely to stay. "Training practices struggle less." Changing role Image copyright Getty Images Image caption Dr Roberts said the days of a GP playing golf at lunchtime were long gone Dr Roberts said it was important for people to realise the role of the GP was changing too. She said it was now about "seeing the right person in the right place at the right time" which might not necessarily be a GP. "I think the important thing to say is that whatever practice people are at their GPs are doing their absolute best," she said. "We are often here late at night doing paperwork, finishing all that off - gone are the days of the GP going and playing golf at lunchtime. "I know there are a lot of struggling practices but I think it is important people do understand we are doing our best with what we have got here." 'Innovative strategies' NHS Dumfries and Galloway said it was "very conscious" of the national shortage of GPs but it was using "active and innovative" strategies to help with recruitment. "There are currently 12 local GP practices within Dumfries and Galloway which provide training to junior doctors," a statement said. "And we currently have 10 GPs in training within Dumfries and Galloway, who - once qualified - typically will go to spend an average 23 years attached to a local practice." So, perhaps, more will follow Anna Roberts on her journey to the region - even if they are not entirely sure where it is. | https://www.bbc.co.uk/news/uk-scotland-south-scotland-47252284 |
What Ails Europe's Economy? | (Bloomberg Opinion) -- In the space of just two years, the euro zone has gone from the world economys hero to zero. In 2017, the bloc expanded at the fastest rate in a decade, as it benefited from a combination of booming global trade and ultra-easy monetary policy. Now, the currency union has become the prime concern for those who worry about a wider downturn. The International Monetary Fund cut its forecasts for global growth mainly due to downward revisions for the euro area. But look closely at the map, and the picture is much more heterogeneous than youd think. Italy and Germany ironically the sick man and the powerhouse of the bloc are in trouble, with the former now officially in recession and the latter only narrowly missing one. But, elsewhere, there is no shortage of countries still growing at a decent clip. The monetary union may be down; it isnt out. The euro zones most consistent surprise is Spain, which grew by 0.7 per cent in the fourth quarter, marginally up from the 0.6 percent expansion seen in each of the previous three quarters. The country may be headed for an election after Pedro Sanchezs minority government failed to secure sufficient support for its budget, but the political uncertainty has had relatively little impact. In 2018, the country expanded by less than 3 percent for the first time in four years, but growth still came in at a decent 2.5 percent. Frances economic performance is even more surprising. The blocs second-largest economy has been jolted by the protests of the gilets jaunes, which shook the political system and dented investor confidence. Yet it expanded by 0.3 percent at the end of last year, in line with the previous quarter and marginally faster than in the first two quarters of the year. Growth for the full-year came in at 1.5 percent, down from 2.3 percent in 2017. But the early signs for 2019 are positive: The Bank of France forecasts the economy will expand by 0.4 percent in the first quarter. Other countries, from north to south, also tell a more positive story. Growth in Finland rebounded from 0.5 percent in the third quarter to 0.9 percent in the final stretch of the year. Portugal expanded by 0.4 percent, pretty much in line with the other three quarters. The Netherlands also bounced back after a poor third quarter, posting a rate of expansion of 0.5 percent. For all their size as the first and third largest economies, Germany and Italy look like the exception rather than the rule. Policy makers across Europe will take a very close look at the economic indicators at the start of this year to understand whether the downturn will worsen. In particular, the European Central Bank will be watching like a hawk: In the second half of 2018, it started to scale back its monetary stimulus, stopping its net asset purchases at the start of 2019. There are now questions about whether that was the right decision. The ECB can take heart from the euro zone labor market, which continues to strengthen both in terms of employment and of wages. This should offer continuous support to domestic demand. However, the central bank has to balance this with risks from abroad, including a slowdown in China and the trade war between Beijing and Washington. All of this has important knock-on effects on business confidence, with entrepreneurs putting investment on hold as they wait for greater clarity. Europes uneven picture suggests that there is a problem with the growth model of some countries as opposed to the bloc as a whole. In Italy, the fiscal plans of the new populist government have pushed up bond yields, contributing to a reduction in the flow of credit. Domestic demand fell in the fourth quarter, showing that consumers and entrepreneurs are being cautious. Meanwhile, Germanys export-driven growth model is facing its biggest test in decades as Berlin discovers it is vulnerable to the global trade outlook and Chinas economic fortunes. But unlike Italy, the country has scope to boost growth by raising public investment: Such spending would provide short-term relief and help to re-balance the economy towards domestic demand. The world is right to look at Europes slowdown and wonder what is going on. But, as often in the past, its hard to find a single explanation. The strength of Europe is its variety; it can also be its weakness. | https://news.yahoo.com/ails-europe-apos-economy-060015276.html |
Is promotion and relegation any closer in US soccer? | Americas international teams go through ups and downs but the issue of promotion and relegation in domestic leagues refuses to die A year after Carlos Cordeiro was elected US Soccer president in a free-for-all that threw everything in the sport up for debate, the federation convened for a much quieter annual meeting over the weekend. Hall of Fame player Cindy Cone was officially declared vice president, a foregone conclusion after she was the only candidate to secure a nomination. In Cordeiros first year, the national teams and youth soccer have drawn plenty of attention. But the issue of promotion and relegation in America is still a matter of debate throughout the countrys soccer communities. Heres how things stand at the moment. As it turns out, a lot of people. The American Soccer League. And the National Independent Soccer Association. And the National Premier Soccer League. And the United Premier Soccer League. And the US Premiership. And the United Soccer League. Oh, and, some regional leagues too. Thats a lot of organizations. They are not. They do not. The federation sanctions professional leagues as Divisions 1, 2 and 3. MLS is Division 1. The USL can boast three levels: the Division 2 Championship, the Division 3 League One, and the amateur League Two, though it doesnt (yet) have pro/rel. More than one league can occupy each tier. NISA, for example, is applying to join Division 3, the same tier as USLs League One. It hopes to cater to clubs that bristle at the USLs central control and its partnership with MLS. What division a team in doesnt necessarily tell the story of how big they are though. Detroit City FC, who average more than 5,000 fans per game, are in the same tier as a UPSL regional group that takes place entirely within a single city park. Actually, professional teams can play below Division 3, though theyre rare. Heres where it gets (even more) complicated, and heres where the Cosmos enter the picture. A few bigger (richer) NPSL clubs have joined up with the Cosmos and Miami FC, both of whom played in the Division 2 NASL, to form something called the Founders Cup, which will run from August to November in its first season, and will have professional players. A US Soccer spokesman confirmed that the federation has no issue with professional players on these teams. Bu at some point, the federation would surely want to prevent a league from doing a full-fledged end run around the Pro League Standards. Depending on who you ask, they may be a bulwark against the constant cycle of clubs emerging and folding, or theyre an unfair roadblock against community clubs. The standards include a required performance bond to keep teams from jumping ship midseason. More to the head-scratching end of things is the insistence that each league team must have a media guide. The more stringent Division 2 standards are central to the NASLs lawsuit against US Soccer in September 2017, filed in the wake of the NASL losing its Division 2 status. The league is currently in limbo. Thats one reason. But most of these clubs, apart from the ones in the Founders Cup, arent planning to turn professional, at least not in the near future. The UPSL has a few ambitious clubs, but its status as a low-budget, low-travel alternative is the key to its rapid expansion. USL League Two and the NPSL rely heavily on college players, who cant play on professional teams. (They can play against professionals, which makes the US Open Cup possible.) That, and the US Amateur Cup, the rough analogue to Englands FA Trophy. And most of these leagues have their own national playoffs, which is why the UPSLs fall season ended in February. Yes. Pro/rel happens regionally in the UPSL and local and regional amateur leagues. On the national level, USL president Jake Edwards has a habit of teasing the possibility of doing it once the league has a critical mass in League One. At the moment, thats 10 teams. Ask the lawyers. Thats one of the arguments in the NASLs suit against US Soccer, for which the discovery deadline has been extended to November, and its the subject of a complaint the NASLs Miami FC and the NPSLs Kingston Stockade filed with the Court of Arbitration for Sport in August 2017. The complexities of that case have been considered on a lawyers blog and in an academic paper, but apparently not in CAS as of yet. He was asked about it during his campaign. His response to ESPNs Jeff Carlisle: I regret that Im not able to comment on this issue at this time because, as vice president, I am a sitting officer of the federation and this is a matter pending in arbitration. Given the frequency of litigation in this realm, US Soccer is bound to be risk-averse for the foreseeable future. Its up to everyone else to sort it out. | https://www.theguardian.com/football/2019/feb/18/is-promotion-and-relegation-any-closer-in-us-soccer |
Will P&G stock split again soon? | CLOSE Take a virtual shopping trip to find all of Procter & Gamble's products. Sam Greene Procter & Gamble stock is near all-time highs as its turnaround efforts appear to be taking hold. Usually, when P&G stock crosses the century mark, the consumer products giant doubles the number of shares outstanding with two-for-one splits. Since 1970, P&G stock has traded for several weeks or a few months north of $100 before shares split. The longest time the shares traded above $100 was for about a year in the late 1990s when the stock traded above $150. Shares won't trade today since the market is closed for Presidents Day. With 10,000 P&G employees in the region and legions more retirees, P&G is one of the most widely held stocks in Greater Cincinnati and Northern Kentucky. Buy Photo Headquarters of Procter & Gamble in downtown Cincinnati. (Photo11: The Enquirer/ Liz Dufour) P&G officials generally don't comment about the company's stock price and didn't offer one when asked about splits by The Enquirer last week. Still, the last time, P&G's stock closed above $100 for just over one month in early 2004, the company announced a two-for-one split. While the swiftness of the split announcement suggests there might have been some automatic benchmark, it might have been the result of a previous split plan that had been put on hold. P&G's stock also closed above $100 several times in late 1999 and early 2000, but a split wasn't declared and the stock market saw a major downturn in March 2000 when the dot.com bubble burst. Also wreaking havoc that spring: the implosion of CEO Durk Jager's short tenure. Read or Share this story: https://www.cincinnati.com/story/money/2019/02/18/p-g-stock-split-coming-soon/2883239002/ | https://www.cincinnati.com/story/money/2019/02/18/p-g-stock-split-coming-soon/2883239002/ |
Is Walmart the Next Retail Dinosaur to Fail with Amazons Dominance of Deliveries? | The news of a terminated partnership between delivery startup Deliv and Walmart could potentially be the canary in the coalmine signaling an impending power shift away from Walmart and toward Amazon in the American retail market. To those in the know, a clandestine but very real war is currently underway between the two titans of American retail, with the potential to fundamentally reshape how Americans and eventually the rest of the world do their shopping. After leaving a trail of disrupted retail business models and conquered markets in its wake, Amazon is currently locked in a battle for U.S. retail supremacy with Walmart, which is still the worlds largest retailer. Thus far, Walmart has managed to avoid the fate of retailers like Toys R Us and Sears by blurring the lines between its online and offline retail offering in response to Amazons $13.7 billion acquisition of Whole Foods in 2017. Last-Mile Grocery Delivery Is The Key From a business point of view, Walmart and Amazon are not that different. They both have the same highly efficient supply chains and Just-in-Time inventory management systems. They both offer customers a dizzyingly wide variety of stock and brands to choose from at similar prices. The difference between both has always been that while Amazon places a famously obsessive emphasis on delivering products to customers homes the same day, Walmart has retained its reputation as a big-box supermarket where customers physically purchase their items and walk away with them instantly. Amazons Whole Foods acquisition changed all that, however, with the company combining its ruthlessly efficient delivery infrastructure with the inventory of a respected premium supermarket brand. Unlike Walmart, Amazon is not dependent on a fleet of trucks with drivers working defined hours. In true internet startup style, the company has consistently demonstrated its fierce determination to get goods to customers within as little as two hours using any means possible, even mooting the idea of delivery drones. Read the full story on CCN.com. | https://news.yahoo.com/walmart-next-retail-dinosaur-fail-092716665.html |
What to do with Canadian Daesh supporters who want to come home? | The federal government is refusing to actively repatriate Canadian Daesh fighters and their families captured abroad. It may not be able to hold out forever. The question of what to do with Canadian citizens who travel abroad to join terror groups like Daesh (also known as ISIS), has never been fully sorted out. Mohammad Ali, a 28-year-old Canadian jihadist captured by the US-backed Syrian Democratic Forces (SDF), speaks to AFP at a detention centre in the northeastern Syrian city of Hasakeh on Feb. 10. He said he had been interrogated by the American FBI, CIA and U.S. defence officials, but never visited by a Canadian official. The Kurdish administration in northeastern Syria wants to send the prisoners back for trial, but governments in their countries of origin are often reluctant. ( FADEL SENNA / AFP/GETTY IMAGES ) The government cannot legally bar a Canadian citizen from returning home. It can charge those who aided Daesh once they are back in Canada. But it must prove its case in court not always a simple task when the alleged crimes occurred half a world away. For the governing Liberals, who campaigned on the slogan that Canadian citizenship is sacrosanct, the fate of returning Daesh supporters was always a political problem. But as long as the alleged fighters were returning home in dribs and drabs, it was a manageable one. Article Continued Below Now, with the final collapse of Daeshs so-called Syrian caliphate, the problem has moved front and centre. Last week, CNN interviewed two Canadian women a college student from Toronto and a graphic designer from Alberta who voluntarily came to Daesh-controlled Syria, where they married and had children. The two have since surrendered to Kurdish forces fighting Daesh and now want to come home. A few days later, CTV reported on a Canadian man imprisoned by the Kurds, who spent four years fighting for Daesh and who also wants to return home. On Tuesday, the Daily Mail published an interview with a 46-year-old Canadian woman called Kimberley, who said she had travelled to Daesh-controlled Syria for humanitarian motives and who now wants to come home. Its estimated that there are somewhere between 27 and 32 Canadians imprisoned in Kurdish-controlled Syria. The number is expected to rise. Roughly half of those in custody are children under the age of eight according to the organization Families Against Violent Extremism. Article Continued Below In a report released late last year, the federal government estimated that about 190 Canadians with ties to terrorism are living abroad. About 60 more have already returned home. Up to now, the federal governments position on would-be returnees has been one of studied indifference. Public Safety Minister Ralph Goodale notes that it is dangerous for consular officials to travel into Syria to visit Canadian citizens detained there. Repatriating those who voluntarily travelled abroad to join Daesh, he says, is not a high priority for the Liberal government. In this, Canada echoes the position of countries such as Britain and Germany. But the luxury of doing nothing may be coming to an end. The Kurdish fighters dont have the facilities to house Daesh prisoners and their families indefinitely. They are pressing Western countries like Canada to take responsibility for their own citizens. On top of this, U.S. President Donald Trump is preparing to withdraw all American forces from Syria a move that would leave the Kurds there vulnerable to attack from their age-old enemy Turkey. The simplest solution for the Kurds is to release all of their Daesh prisoners and let them resume their terrorist activities somewhere else. The Americans are not partial to this solution. The U.S. wants Canada and others to repatriate their citizens and try them on terror charges at home. According to the New York Times, Saudi Arabia is already taking Washingtons advice and France plans to do so. As well, Canadas courts might have something to say about Ottawas refusal to repatriate Canadian citizens. In 2009, a federal court judge forced Ottawa to bring home Abousfian Abdelrazik, a Canadian with alleged terror ties, who was stranded in Sudan. The judge ruled that by throwing up roadblocks to Abdelraziks return, the government had violated his charter rights. Incidentally, the terror allegations against Abdelrazik were eventually found to be groundless. It is possible that the allegations against some or all of the so-called Daesh families stranded abroad are equally untrue. Thomas Walkom is a Toronto-based columnist covering politics. Follow him on Twitter: @tomwalkom Read more about: | https://www.thestar.com/opinion/star-columnists/2019/02/18/what-to-do-with-canadian-daesh-supporters-who-want-to-come-home.html |
Can Blockchain Help 'Fast Fiction' Disrupt The Streaming Media Disruptors? | To understand the true power of disruption that streaming media leaders like Netflix and Spotify have brought to their respective markets, you need to follow the money. True, industries as diverse as DVD rentals, commercial radio, and cable television have all felt the impact of such disruption but the brunt of the changes have largely fallen on the content producers. The pittance that Spotify doles out to the artists whose music it streams is now a well-trodden controversy. Lesser known, however, is the impact that Netflixs business model has on the producers of the content it delivers. While Netflix produces some of its own content, it licenses the vast majority of what its customers see and it uses its influence in the marketplace to get access to content at bargain basement rates. Insiders are all too familiar with Netflixs model. Netflix tends to license lots of product in bulk for discounted rates, explains Gary Elmer, Director of Photography, Matchbox Pictures and Eye Line Cinematography. Unlike pay per view, Netflix only pays once and after the initial payment no more funds are passed on no matter how many people watch the movie. Secondary Impacts of the Netflix Juggernaut One way content producers are attempting an end-run around Netflix is via a new content form factor: fast fiction, consisting of high quality short videos streamed to smartphones and other devices. While Netflix customers can certainly view its content on their phones, the fast fiction category focuses on content that producers create specifically for handheld devices, in some cases integrating with interactive features specific to the device. Perhaps the best-known entrant into the fast fiction marketplace is Quibi, the brainchild of showbiz veteran Jeffrey Katzenbergs Hollywood/Silicon Valley powerhouse WndrCo, which invested a cool billion dollars into Quibi. With the addition of tech industry stalwart Meg Whitman as CEO, Quibi is pouring its money and talent into creating top-quality content that should drive interest and most importantly, subscription revenue into Quibi. What such a big budget content business model misses, however, is a way to bring a broader range of content producers into the fold. Reinventing the Royalty System Anybody can post original content to YouTube or Spotify, but only a small sliver of such producers can make any real money from such services. And by purchasing access to content at bargain basement rates, Netflix is doing little to encourage new producers to add their content to the mix. Given its greenfield status, the fast fiction market is an ideal place to disrupt how content producers are paid at least, thats the vision of Quibi competitor Fiction Riot. Fiction Riots vision: build a subscription-based fast fiction platform that fairly compensates the producers of all content on the platform, from the big-name pros to the individual crew members at shoestring startups. Fiction Riot is the brainchild of former United Talent Agency agent Mike Esola, whose discouraging experiences as an agent led him to formulate the idea behind Fiction Riot. Our motivation at Fiction Riot is the disintegration of revenue share royalties, he explained. The problem: concentration of wealth at the top. The top tier is making more money than ever, but no one else is making money anymore, Esola said. Streaming was phenomenal for consumers and increased capital spend, but it led to a lottery ticket system, where youd need a few hits to make up for a lot of losses. Fiction Riots solution: a technology platform dubbed Ficto that brings together three groups of people: the subscribers, who pay for the service; the content producers, who earn royalties; and curators, who make money by reviewing and rating content. An essential characteristic of Ficto and an important differentiator is the transparency built into the system. We want to avoid the padding and corruption of traditional business models by rolling out a transparent royalty revenue share, Esola explained. I cant tell you how disincentivized people in the business have become. The Path to Blockchain This need for a royalty platform that delivered transparency to all parties led Esola to DECENT, a blockchain platform vendor that centered its DCore platform on delivering streaming content via a decentralized royalty model. In other words, DCore was a perfect fit for Ficto. DCore provides Ficto with the best of both worlds. We want to preserve the benefits of streaming with a verifiable way to calculate royalties, Esola said. We can also maintain a revenue share for every crew member. The DCore platform also supports utility tokens, which Fiction Riot plans to use to keep track of payments to the curators. Were rolling out a unique utility token to track their productivity, like a time card, Esola added. The solution: use investment dollars to seed the content library with high-quality, original fast fiction that will drive early subscription revenues. Fiction Riot already has at least 20 fast fiction series in the works, including a Ficto series connected to the upcoming action film Project Extraction starring Jackie Chan and John Cena, as well as several others based on acquired rights to various New York Times best-sellers. Fiction Riot clearly lacks the deep pockets of Quibi, and its not clear if its initial content investment will bring in enough subscribers for it to pass its tipping point. However, if it does manage to attract sufficient interest from subscribers to become a viable business, then its ability to compensate both curators and content producers for the work that they do might very well disrupt how the Netflixes of the world obtain their content and give Katzenberg and Whitman a run for their money as well. As for the role that blockchain plays in the Fiction Riot story: it provides the transparency and decentralization that the company will need in order to scale its ambitious plans. But make no mistake: Fiction Riot isnt a blockchain company that hopes to apply the technology to fast fiction. Its a fast fiction company that hopes to leverage blockchain to disrupt the behemoths in the streaming video marketplace. Too few blockchain companies make this distinction properly, which itself bodes well for the future of Fiction Riot. Intellyx publishes the Agile Digital Transformation Roadmap poster, advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. As of the time of writing, DECENT is an Intellyx customer. None of the other organizations mentioned in this article are Intellyx customers. The author does not own, nor does he intend to own, any cryptocurrency or other cryptotokens, neither long nor short. Image credit: Cory Doctorow. | https://www.forbes.com/sites/jasonbloomberg/2019/02/18/can-blockchain-help-fast-fiction-disrupt-the-streaming-media-disruptors/ |
Does The Herbicide RoundUp Cause Cancer? | For many years, environmental activists have been concerned about the herbicide glyphosphate, which is the main ingredient in RoundUp, the world's most widely-used weed killer. Since 1996, global usage of glyphosphate has increased 15-fold, in part due to the widespread cultivation of "RoundUp Ready" crops, which are genetically modified to be resistant to RoundUp. This allows farmers to use the herbicide freely, killing undesirable weeds without harming their crops. RoundUp's manufacturer, Monsanto, has long claimed that glyphosphate is safe, and they point to hundreds of studies that support their argument. Nonetheless, a new study raises the question again. First let's look briefly at another recent study. A bit more than a year ago, in November 2017, a large study in the Journal of the National Cancer Institute looked at nearly 45,000 glyphosphate users (farmers and other agricultural workers who apply glyphosphate to crops). These "users" have a much higher exposure to RoundUp than ordinary people. That study concluded: "no association was apparent between glyphosate and any solid tumors or lymphoid malignancies overall, including NHL [non-Hodgkins lymphoma]." They did find, though, that there was a trendnot quite significanttowards an increased risk for one type of leukemia, AML. This trend appeared in users who had the highest exposure to RoundUp. In the new study, by a group of scientists from UC Berkeley, Mount Sinai School of Medicine, and the University of Washington, the authors (L. Zhang et al.) decided to focus exclusively on people with the highest exposures to glyphosphate. They point out that including people with low exposure, who might have no increased risk of cancer, tends to dilute risk estimates. Statistically speaking, this is undeniably correct, but it also means that their results may only apply to people with high exposures, and not to ordinary consumers. The punchline from the new study: people with the highest exposure to glyphosphate had a 41% higher risk of non-Hodgkins lymphoma. One caveat to this finding is that it's a meta-analysis, meaning the authors did not collect any new data. Instead, they merged the results from six earlier studies including over 65,000 people, and they focused on those with the highest exposure levels. Meta-analyses can be prone to cherry-picking; that is, picking the studies that tend to support your hypothesis. However, I couldn't find any sign of that here. The authors include a frank assessment of all the limitations of their study, and they also point out that multiple previous studies had similar findings, although most found smaller increases in relative risk. In the end, they conclude: "The overall evidence from human, animal, and mechanistic studies presented here supports a compelling link between exposures to GBHs [glyphosphate-based herbicides] and increased risk for NHL." A couple more caveats are important. First, this finding is all about relative risk. Non-Hodgkins lymphoma is one of the most common cancers in the U.S. and Europe, but the lifetime risk for most people, according to the American Cancer Society, is just 1 in 42 (2.4%) for men and 1 in 54 (1.9%) for women. A 41% increase in relative risk increases those numbers to 3.4% (men) and 2.6% (women). Second, this higher risk only applies to people with very high exposure to glyphosphate: primarily people who work in agriculture and apply RoundUp to crops. Ordinary consumers (including people who eat "Roundup Ready" crops) have a far, far lower exposure, and dozens of studies have failed to show any increased risk of cancer for consumers. For most of us, then, this new study should not cause much concern, but for agricultural workers, it does raise a warning flag. | https://www.forbes.com/sites/stevensalzberg/2019/02/18/does-the-herbicide-roundup-cause-cancer/ |
What Exactly Happened To Lydia In Last Night's Confusing 'The Walking Dead'? | Last night The Walking Dead did something unexpected. Rather than keeping the new villains, the Whisperers, a mystery for as long as possible, we had an entire episode dedicated to the backstory of their leader, Alpha. This was told through flashbacks, a storytelling device we have almost never seen The Walking Dead use in nine years now, and we are surely going to see more of them as we discover other secrets like what happened to Michonne and Daryl to give them those scars. I liked this episode overall, but I did feel like it had some issues with editing that made it somewhat confusing. If you walked away from the episode not really clear on what Lydias story was, I wouldnt blame you. It was supposed to be shifting and confusing, but it was also a little hard to puzzle out because of the editing. Heres a breakdown of what exactly seemed like it happened, and then actually happened, as best I can tell. The fake story: Lydia finally opens up to tell the story of how when the outbreak first started, she was trapped in a basement with a bunch of people with her parents. They were stuck there for over a month. Lydia paints a picture of her father being controlling and borderline abusive, shaving his head and starting to go crazy as her mother protects Lydia from him. Lydias mother flees with her, taking her away from the chaos of the basement and her father and has been protecting her ever since. The real story: Lydia was trapped in that basement, that much was true. But it was Lydias mother, not her father, that slowly started to lose it. Shes the one who shaved her head and was borderline abusive, and Lydias father was the one protecting her from her mothers increasingly erratic behavior. Lydias mother ends up murdering her father in front of her when he tries to leave with Lydia by himself as the basement community breaks down. Lydias mother is still abusive toward her even now, as evidenced by current injuries she has. The idea here is that Lydia has repressed the true story of what happened with her mother and father because her mother has told her the fake story so many times she thought it was actually what happened. Lydias mother has painted herself in her mind as Lydias protector, but Lydia has been more like an abused captive than anything. This is told in parallel with a few reveals about how Daryl (and Merle) had abusive family members growing up as well, though sadly we see no flashbacks of little Daryl the way we did with Lydia. Lydia concludes all this by saying that her mother wont care that she got captured and shell just move on, but that turns out not to be true as Alpha leads a band of Whisperers to the Hilltop to try and get her back, presumably by trading Alden and Luke who she captured last episode. I dont think were supposed to know if we can trust Lydia yet. Breaking through her fake story to the truth of her rough past does make her more sympathetic, and yet Lydia also seems like a character that knows how to work people with her youth and supposed innocence to her favor. After that story, Im more prone to trust her now, but perhaps that was the point. Good episode, albeit a bit confusing. Follow me on Twitter, Facebook and Instagram. Read my new sci-fi thriller novel Herokiller, available now in print and online. I also wrote The Earthborn Trilogy. | https://www.forbes.com/sites/insertcoin/2019/02/18/what-exactly-happened-to-lydia-in-last-nights-confusing-the-walking-dead/ |
What are Brexit contingency plans for aerospace and defence? | With no deal estimated to mean billions of pounds in extra costs, heres what firms are doing The British aerospace sector is bracing for a no-deal Brexit, which it estimates could mean billions of pounds in extra costs. The impact on some goods could equate to 38% of their sale value, according to one no-deal Brexit scenario modelled by ADS, a lobby group for the aerospace and defence sectors. The group estimates that new customs checks alone will cost an extra 1.5bn per year. While tariffs are less of an issue for the sector, as most finished aerospace parts are not caught by the levies, import VAT and tariffs on generic parts and raw materials could still add significant costs. Read more That scenario also includes customs checks taking only 70 seconds per vehicle, which the Department for Transport estimates could cause six-day delays at the border. When youre selling an aircraft you cant have any parts missing, the chief economist at ADS, Jeegar Kakkad, said. One part stops the whole process. The output of British aerospace manufacturers fell for the first time in four years in 2018, according to the Office for National Statistics, with concerns around global growth as well as Brexit clouding the outlook. Airbus, one of the UKs largest aerospace employers at its wing factory and design centre, has warned that a no-deal Brexit could cost it 1bn (875m) per week, while indicating that it could leave the UK altogether in the event of a disorderly departure. Kakkad added that smaller suppliers are likely to be more vulnerable to problems with cashflow. The aerospace and defence sectors together employed more than 260,000 people in Britain in 2017, according to ADS figures but future expansion by non-British companies could be threatened if new frictions are introduced in the trade between the UK and the EU. Kakkad said: The issue isnt about what we have now; its if we look halfway through the next decade when decisions are being made on the next set of wings; the next supply chain. Airbus Facebook Twitter Pinterest The Airbus chief executive, Tom Enders. Photograph: Guillaume Horcajuelo/EPA Rolls-Royce BAE Systems Facebook Twitter Pinterest Staff work on the Eurofighter Typhoon at BAE Systems Warton plant near Preston. Photograph: Phil Noble/Reuters Bombardier Aerospace Facebook Twitter Pinterest The Bombardier Aerospace plant in Belfast. Photograph: Brian Lawless/PA Boeing Babcock Facebook Twitter Pinterest An attack submarine at Devonport, Plymouth, where Babcock works in partnership with the MOD and the Royal Navy. Photograph: David Levene/The Guardian Cobham Leonardo Safran Facebook Twitter Pinterest A technician works on the foundry wax production line for cluster assembly preparation at the Safran Aircraft Engines plant in Gennevilliers, France. Photograph: Benot Tessier/Reuters Lockheed Martin Meggitt Melrose Facebook Twitter Pinterest Melrose took over GKN in 2018. Photograph: Hannah Mckay/Reuters GE Aviation QinetiQ Facebook Twitter Pinterest QinetiQ scientific equipment in a laboratory. Photograph: PR handout Marshall Thales | https://www.theguardian.com/politics/2019/feb/18/what-are-brexit-contingency-plans-for-aerospace-and-defence |
Are tiny handbags pointless? | Tiny handbags were all over New York Fashion Week and according to the fashion gods, they are a must-have item of 2019. Brightly colored handbags stood out against big puffy winter coats and everyone noticed. The bags are perfect for making a statement and for keeping clutter to a minimum. But for a person on the go with a long day ahead, a small hand bag may fall short and not carry everything you need. A tiny handbag is perfect for making a statement. According to Teen Vogue: The trends that happen off the runway are often just as important. This season, it was tiny bags from Jakarta-based handbag brand Alfeya Valrina. Everyone from stylist Solange Franklin and buyer-turned-style blogger Janelle Marie Lloyd to...um, me, Teen Vogues Fashion News Editor, was carrying them. Keep in mind you can probably only fit your wallet, keys and maybe your phone in a tiny handbag. This trend is all about the look and lacks functionality. lol I live for huge bags. Elaine Carmona (@hehatesmenot) February 12, 2019 The Tylt is focused on debates and conversations around news, current events and pop culture. We provide our community with the opportunity to share their opinions and vote on topics that matter most to them. We actively engage the community and present meaningful data on the debates and conversations as they progress. The Tylt is a place where your opinion counts, literally. The Tylt is an Advance Local Media, LLC property. Join us on Twitter @TheTylt, on Instagram @TheTylt or on Facebook, wed love to hear what you have to say. | https://www.oregonlive.com/tylt/2019/02/are-tiny-handbags-pointless.html |
Will Procter & Gamble stock split again soon? | CLOSE Take a virtual shopping trip to find all of Procter & Gamble's products. Sam Greene Procter & Gamble stock is near all-time highs as its turnaround efforts appear to be taking hold. Usually, when P&G stock crosses the century mark, the consumer products giant doubles the number of shares outstanding with two-for-one splits. Since 1970, P&G stock has traded for several weeks or a few months north of $100 before shares split. The longest time the shares traded above $100 was for about a year in the late 1990s when the stock traded above $150. Shares won't trade today since the market is closed for Presidents Day. With 10,000 P&G employees in the region and legions more retirees, P&G is one of the most widely held stocks in Greater Cincinnati and Northern Kentucky. Headquarters of Procter & Gamble in downtown Cincinnati. (Photo11: The Enquirer/ Liz Dufour) P&G officials generally don't comment about the company's stock price and didn't offer one when asked about splits by The Enquirer last week. Still, the last time, P&G's stock closed above $100 for just over one month in early 2004, the company announced a two-for-one split. While the swiftness of the split announcement suggests there might have been some automatic benchmark, it might have been the result of a previous split plan that had been put on hold. P&G's stock also closed above $100 several times in late 1999 and early 2000, but a split wasn't declared and the stock market saw a major downturn in March 2000 when the dot.com bubble burst. Also wreaking havoc that spring: the implosion of CEO Durk Jager's short tenure. Read or Share this story: https://www.usatoday.com/story/money/business/2019/02/18/p-g-could-stock-split-come-soon-procter-gamble-shares/2903889002/ | https://www.usatoday.com/story/money/business/2019/02/18/p-g-could-stock-split-come-soon-procter-gamble-shares/2903889002/ |
Who made Rob Maclean's youthful team of the week? | Scottish Premiership action resumed at the weekend and BBC commentator Rob Maclean picks his standout performers. Formation 3-4-3: Seny Dieng (Dundee); Jason Kerr (St Johnstone), Joe Shaughnessy (St Johnstone), Dedryck Boyata (Celtic); Kyle McAllister (St Mirren), David Turnbull (Motherwell), Lewis Ferguson (Aberdeen), Jake Hastie (Motherwell); Scott Wright (Dundee), Andrew Nelson (Dundee), Florian Kamberi (Hibernian). Goalkeeper - Seny Dieng Dundee did what St Mirren failed to do on Saturday and that's hold on to a 2-1 lead. Seny Dieng's double save late on against Livingston was crucial. The on-loan QPR goalkeeper got his chance when Jack Hamilton was out of action and he's grabbed it with both gloves. Defenders - Jason Kerr, Joe Shaughnessy, Dedryck Boyata Most of the Ibrox headlines on Saturday focused on dropped points for Rangers but the goalless draw was significant for St Johnstone as they ended a run of five straight defeats. Jason Kerr was again an eye-catcher for the Perth team with another quality showing at the back. I wrestled with which of the Saints central defenders I was going to include and the answer is to pick both. Joe Shaughnessy rarely has a bad game as far as I can see and he came close to heading in the winner for St Johnstone. These two are a top pairing in defence. Media playback is not supported on this device Highlights: Rangers 0-0 St Johnstone The much-maligned Dedryck Boyata gets the third place in my defensive set-up. There was a reason Celtic goalkeeper Scott Bain had little to do at Rugby Park on Sunday. The players in front of him limited Kilmarnock to very few scoring chances with Belgian international Boyata running the show. Midfielders - Kyle McAllister, David Turnbull, Lewis Ferguson, Jake Hastie Talented 20-year-old Kyle McAllister gave a glimpse of what he's got when he lashed a left footer past Aberdeen's Joe Lewis on Saturday to put struggling St Mirren 2-1 in front. The Paisley team had to settle for a point in the end but the sparkle of McAllister, back on loan from Derby County, bolsters their belief that they can still escape relegation. Media playback is not supported on this device Highlights: Motherwell 2-1 Heart of Midlothian David Turnbull's late winner for Motherwell against Hearts on Sunday was more about keeper Colin Doyle's howler than it was about the teenage midfielder's strike from the free-kick. But there was nothing freakish about Turnbull's composed and commanding performance right at the heart of the action. Aberdeen weren't too chuffed that Lewis Ferguson's old man Derek broke the news on BBC Radio Scotland's Sportsound that his boy's about to sign a contract extension. The 19-year-old midfielder is consistently outstanding and scored his seventh goal of the season against St Mirren on Saturday. My all-under-21 midfield four is completed by young man of the moment Jake Hastie. His five goals in six games tell only part of the story. The speedy Motherwell forward looks like he's about to make something happen every time he touches the ball. An exciting prospect. Forwards - Scott Wright, Andrew Nelson, Florian Kamberi Dundee needed to add some quality in their battle for survival and the loan signing of Aberdeen's Scott Wright could make all the difference. He scored against Livingston on Saturday with a sensational free-kick and his cross created the other goal. Media playback is not supported on this device Scott Wright scores a sensational winner for Dundee Andrew Nelson, 21, has featured only six times for Dundee and has four goals to his name already. The former Sunderland striker looped in a header in the 2-1 win at Livi which hauled the Dark Blues out of the bottom two in the Premiership. New Hibernian head coach Paul Heckingbottom certainly got a reaction out of Swiss striker Flo Kamberi in his first game in charge. He worked hard, ran the channels and scored in the 2-0 defeat of Hamilton Academical. Kamberi's a big player in Hibs' push for a top-six finish. | https://www.bbc.co.uk/sport/football/47281986 |
When Are New Characters Coming To 'Apex Legends'? | It would probably take me weeks just to master the ins and outs of a single character in Apex Legends, but I have a feeling I'm not going to get the time to do it. Apex Legends is a hit, it's had its first major patch, and soon it's going to be time to get rolling on content. In the modern era--and especially the post-Fortnite era--anything in the world of games as service thrives depending on whether or not it can release new content quickly enough to stay ahead of its players' attention spans and the competition at the same time. In the case of Apex Legends that's going to mean new cosmetics, likely some map changes, new weapons, attachments and items and, most importantly, new characters. Apex Legends already had a minor content drop in the form of some Valentine's Day skins, but the first major content update is due out in March with the game's first battle pass. Like Fortnite, Apex Legends will be using the battle pass as a way to broadly organize the game over time. Each season will at least come with new characters, new guns, new loot and new loot: it's unclear if the team is also mulling either new maps or Fortnite-style map changes, but we might not see as much of that in the early days. Regardless, "March" is as good as we're going to do for an arrival date of the new characters/legends. It's unclear right now if the battle pass will be early, mid or late March, so we'll stay tuned on that. We already have an idea of what some of these characters are going to be, however, thanks to some intrepid datamining. If you want to see what those will likely be, check out the list here. But there's a ton of resources here for Respawn to draw on: not only does the team have its own work with pilot abilities in the Titanfall series, it already seems to have drawn from other class-based shooters like Rainbow Six Siege as inspiration for some of its current characters. Characters are going to have to be one of the cornerstones of monetization in Apex Legends, making it a little less Overwatch and a little more Rainbow Six Siege. And it's probably Respawn's best chance to start making a good chunk of change of its new hit: so far, the skins aren't nearly flashy or unique enough to drive a ton of purchases, leaving the game with a bit of a monetization gap in the early period. But characters are a handy fix to that, because I have a hunch that this game is more popular with the sort of core gamer that's going to leap at the chance to play the game in a different way before they'll necessarily shell out for a cosmetic item. It's a bit unclear whether new characters will be premium purchases outside of the battle pass or part of the battle pass itself, but right now I think they'd have a better home in the battle pass. Again, the cosmetics aren't really up to par yet, and Respawn needs something bright and shiny to push people towards making that new purchase, especially since it might take a little while to bring its skin game on par with some of the other big names in the space. But, the ability to sell characters is a benefit of rock-solid gameplay: if people like playing your game, they'll want to play it in different ways. | https://www.forbes.com/sites/davidthier/2019/02/18/when-are-new-characters-coming-to-apex-legends/ |
Does Cirrus Logic Have a Future Beyond Apple? | Cirrus Logic (NASDAQ: CRUS) paid heavily for its reliance on Apple (NASDAQ: AAPL) last quarter. The audio-chip specialist's top and bottom lines took a massive hit thanks to weak iPhone demand and its failure to diversify its revenue stream beyond Apple (the tech giant produced 83% of Cirrus' third-quarter revenue, up from 82% in Q2). Given Apple's headwinds in its smartphone segment recently, Cirrus' reliance on the company meant its guidance was ugly as well. Cirrus is looking at a 27% annual drop in the top line for the fourth quarter, though it hopes that new product ramps and customer launches over the spring will make up for weak smartphone sales to some extent. A man looking up and wondering in front of a wall with question marks. More Image source: Getty Images. The iPhone problem Cirrus, however, doesn't seem confident of returning to growth in the near term. The company was originally looking to deliver revenue growth in fiscal 2020, but it is now refraining from providing top-line guidance for the period, citing "the wide array of uncertainties surrounding the macroeconomic environment and their unknowable impact on smartphone volumes." However, the company seems confident about getting more revenue from Android customers thanks to content gains and a strong product launch pipeline. But all those efforts won't move the needle substantially for Cirrus given its massive dependence on the iPhone. The chipmaker pointed out in the shareholder letter that its relationship with Apple remains "outstanding," with both companies engaged in design activity on various products. However, the only way Apple could drive Cirrus' top line is by selling more iPhones, and that's something that Cupertino is finding difficult to do. However, Apple is reportedly looking at ways to boost sales, such as reducing iPhone pricing in certain markets where the devices are more expensive as compared to the U.S. due to foreign exchange fluctuations. Such a move could breathe life into iPhone sales -- and Cirrus' prospects. iPhone sales at Chinese retailers spiked in the range of 70%-83% after a round of price cuts in January. In all, Cirrus can only hope that Apple takes some concrete steps to arrest sliding iPhone sales. Otherwise, there's not much of a chance of a turnaround in its financial fortunes in the near term. The long-term picture Cirrus predicts that its revenue opportunities will be more diversified going forward. Flagship smartphones currently occupy the biggest share of the chipmaker's serviceable addressable market, and that doesn't seem to be working in its favor anymore. As a result, Cirrus is now looking to expand its presence in midtier smartphones and smart audio accessories, while unlocking new opportunities in voice biometrics, smart audio, and haptic drivers at the same time. | https://news.yahoo.com/does-cirrus-logic-future-beyond-133100783.html |
How Important Is Sleep For Exercise Recovery? | originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Christie Aschwanden, Author of GOOD TO GO, on Quora: Sleep is the most potent recovery tool known to science. Nothing else comes close. If youre not getting enough sleep, theres no other recovery method you can use that will make up the difference. Sleep is when your body repairs the damage youve done during the day. While you sleep, hormones involved in tissue repair, like testosterone and human growth hormone, kick into high gear. One study I wrote about found that young men who were otherwise healthy saw a 10 to 15 percent drop in their testosterone levels after getting only five hours of sleep per night over the course of a week. Losing sleep can also impair your athletic performance. One researcher I spoke to for my book told me that sleeping only six hours can double or even triple your reaction time. When it comes to performance, arriving at your workout sleep deprived is like showing up drunk. Sleep deprivation also makes you more susceptible to colds and more likely to get injured. A study of high school athletes found that those who slept fewer than eight hours each night were more susceptible to injury. Bottom line: sleep should be your number one recovery priority. This question originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter, Facebook, and Google+. More questions: | https://www.forbes.com/sites/quora/2019/02/18/how-important-is-sleep-for-exercise-recovery/ |
What Common Misconceptions Do People Have About Refugees? | originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Betsy Fisher, Policy Director, International Refugee Assistance Project, on Quora: Unfortunately, the political rhetoric of the last few years has led to two common misconceptions: that refugees are a burden on the economy and that they are a national security threat. Both couldnt be further from the truth. Refugees are a net benefit to the United States economy, as was found by a recent study conducted by the Department of Health and Human Services in 2017 and commissioned by the Trump Administration! The study found that over the past decade refugees brought in $63 billion more in government revenues than in services received. What that means in more concrete terms is that refugees are entrepreneurs, job creators, and taxpayers who participate in the economy just like any other Americans. In fact, cities such as Buffalo, NY, and Erie, PA, that were troubled by urban decline saw their communities revitalized by the influx of refugees. And since refugee admissions have been drastically lowered by the current Administration, these cities are feeling the impact already. The notion that refugees are a threat is equally false. In 2016, the Cato Institute conducted a study into the links between immigration and terrorism and found that since the creation of the Refugee Act in 1980, no refugees had been involved in terror-related murders. Refugees have to go through a years-long process, during which they get screened by multiple agencies, before they are ever granted entry to the United States. In fact, the vast majority of refugees come to America because they are seeking peace and security; many of them have fled terrorism in their home countries themselves. This question originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter, Facebook, and Google+. More questions: | https://www.forbes.com/sites/quora/2019/02/18/what-common-misconceptions-do-people-have-about-refugees/ |
How far did LSU skyrocket in the polls after beating Kentucky, Georgia? | The LSU Tigers rose six spots in the latest Associated Press Top-25 poll, jumping to No. 13 for the programs highest ranking since Week 16 of the 2008-09 season. The USA Today Coaches poll has not yet been released. LSUs upward movement in the poll came after upsetting then-No. 5 Kentucky in Rupp Arena and holding off Georgia in Stegeman Coliseum. LSU (21-4, 11-1 SEC) hosts Florida on Wednesday (Feb. 20) and then to No. 5 Tennessee on Saturday in what will be the the first Top-15 matchup in the Assembly Center in 35 years. The last time there was a Top-15 matchup in Baton Rouge was when then-No. 9 LSU hosted No. 2 Kentucky on Jan. 7, 1984. It also will be the first ranked matchup in the PMAC since then-No. 14 LSU hosted No. 18 UConn on Jan. 6, 2007. The last time LSU was ranked in the Top 15 of the AP Poll was March 2, 2009, after the Tigers upset Florida in the PMAC and downed Kentucky in Rupp Arena. LSU was No. 19 in the AP Top 25 and No. 21 in the coaches poll last week. LSU is one of three ranked SEC teams in the AP Top 25: No. 4 Kentucky, No. 5 Tennessee and LSU. Auburn, Mississippi State and Ole Miss all received votes. | https://www.nola.com/lsu/2019/02/how-far-did-lsu-skyrocket-in-the-polls-after-beating-kentucky-georgia.html |
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