DECEMBER-2016 “BIRTHDAYS”

first_imgFacebookTwitterCopy LinkEmailShare JOHN RUDOLPHJENNIFER RUSSELBURGTROY TORNATTACHRIS MILLSJB STRASSWEGLINDA MORRISTONY RICKETTSDAN OATESGINNY GOODMANSHAWN LEWISDeLYN BEARDMIKE MEYERSBRIAN LYNCHJENNIFER McDANIELJ D STROUTHMIKE RADOMSLIDDY WSTLAURA KOEWLERJOHN CHASEKATHY SALESARAH HUDSONJEFFERY HARRISJAY ZIMMER KHARAS WILLIAMSDONALD SIKESCORAL JONESANDREW KELLERMATT CORNBOB DAVISJIM BEERYBOB DAVISKC KERRY CHESTERKHARA WILLIAMSAL C BRAUMROGER DIXONTIM CARTERKEITH KINNEYTIM CARTERJEFF LONGBRAD SAGEHELDI MILLLERBOB EUBANKTROY MILLERVICKI NELSONJIM KECKJOE PATTERSONROB DEGRAFFJOAN DAVISLORI HAHNlast_img read more

Dover Nationwide Series pit stall assignments

first_imgREAD MORE: The second-fastest qualifier, Sam Hornish Jr., picked Stall 18 behind the second stall opening on pit road. Third-fastest Kyle Busch picked Stall 10 behind the first pit stall opening on pit road. READ: Harvick’s late charge leads to 600 win READ: Latest news from Dover READ: Pit crew key as Hamlin claws back READ: Kenseth, Johnson hopes wrecked in 600 Coors Light Pole Award Winner Austin Dillon gets his pick of pit stalls ___________________________________________________________________________________________Comments are currently unavailable. We’re working on the development of a NASCAR fan forum – please stay tuned. Just like Denny Hamlin in the NASCAR Sprint Cup Series, Austin Dillon won his second consecutive Coors Light Pole Award in the NASCAR Nationwide Series, taking the top spot at Dover International Speedway. last_img read more

Tickets for You Can’t Take It With You Now On Sale

first_imgTickets are now available for the Broadway revival of Moss Hart and George S. Kaufman’s You Can’t Take It With You, starring Tony winner James Earl Jones and Tony nominee Kristine Nielsen. Directed by Scott Ellis, performances of the Pulitzer Prize-winning drama will begin on August 26. Opening night is set for September 28 at the Longacre Theatre. You Can’t Take It With You introduces audiences to the freethinking Sycamore family and the mayhem that ensues when their daughter’s fiancé brings his conservative, straight-laced parents to dinner on the wrong night. The show debuted at the Booth Theatre in 1936 and was last revived on Broadway in 1983. Jason Robert Brown, who took home two Tonys on June 8 for the score and orchestrations of The Bridges of Madison County, will write original music for the production. Further details, including additional casting and a complete creative team, will be announced at a later date. Kristine Nielsen Show Closed This production ended its run on Feb. 22, 2015 You Can’t Take It With Youcenter_img View Comments Star Files James Earl Jones Related Showslast_img read more

Bradley Cooper & Lady Gaga Set for A Star Is Born

first_imgBradley Cooper & Lady Gaga(Photos: Bruce Glikas – Jason Merritt/Getty Images) It’s official! Tony and Oscar nominee Bradley Cooper will direct and appear in A Star Is Born…opposite Lady Gaga. According to Deadline, production on the Warner Bros project will start early next year in California.The long-in-the-works remake had at one point Clint Eastwood to helm and Beyoncé attached to star. Gaga will pen new music for the film.A Star Is Born first began life as a 1937 film starring Janet Gaynor as a farmgirl-turned-starlet, and Fredric March as an aging movie star. The first musical remake came out in 1954 starring Judy Garland. A second remake was made in 1976 starring Barbra Streisand and featuring the Academy Award-winning song “Evergreen.”Fall in love with Garland’s version of “The Man That Got Away” all over again below! View Commentslast_img read more

15 Orchid beauty

first_imgThe best thing you can do for your orchid, Thomas said, is to find out which type it is and follow the guidelines for caring for that particular kind.Most people have brief introductions to orchids — in a corsage, for instance. Thomas made a much more intimate acquaintance, first seeing their beauty while shoveling horse manure in a commercial greenhouse.As unpleasant as that might seem, Thomas said he learned a valuable lesson there. “Soil is the most important factor when caring for an orchid,” he said.The ideal soil characteristics vary with the type of orchid. “Phalaenopsids require evenly moist conditions for growing,” Thomas said. “Therefore, a heavy soil is ideal, something high in organic matter like peat moss.”Problem with potsOne problem with ornamental pots, he said, is that there’s little or no drainage, which hurts an orchid’s roots because of the lack of air.Thomas addresses the problem by filling a larger pot with 2 inches of gravel, placing the plant atop the gravel layer and then surrounding the plant with moss. This allows the surplus water to drain out into the gravel layer, leaving the roots with ample oxygen.On the other hand, cattleyas need completely different growing conditions. These flowers are conventionally used to growing on trees with very little soil. So they grow best in drier soils that allow for exposure to air, such as gravel mixed with pine or fir bark.”The conditions used to grow phalaenopsids would kill cattleyas in a few weeks,” Thomas said.Easy does itSoils aside, phalaenopsids and cattleyas both prefer very dilute fertility levels.”Use an eighth of the recommended rate for houseplants,” Thomas said. “Orchids in the jungle are never fertilized, so they’re not able to deal with a high dose of fertility. It kills the roots.”You can tell when your orchid needs water by sticking your little finger into the soil, Thomas said. If it feels dry, give the plant a little water.”In the summertime, orchids will do great outside in the shade,” Thomas said. “Never put orchids in direct sunlight.”For more information, visit the American Orchid Society at www.orchidweb.org/aos.(Jamie Hamblin is a student writer with the University of Georgia College of Agricultural and Environmental Sciences.) Volume XXXIINumber 1Page 15 By Jamie HamblinUniversity of GeorgiaWhether it’s Grandmother’s 75th birthday or Christmas Eve, Aunt Joyce, a florist, brings boxes overflowing with orchids for the host home. Everyone raves over their brilliant splashes of color. But by the next family gathering, Aunt Joyce has to save the day again with a fresh supply. Phalaenopsids have large flowers with moth-like patterns. They can bloom most of the year.Dendrobiums, while they look similar, shed their blooms in fall and winter.Cattleyas have large, colorful blooms and are commonly known as “the corsage orchid.” Orchids can live a long time, says Paul Thomas, a Cooperative Extension horticulturist and floriculture professor with the University of Georgia College of Agricultural and Environmental Sciences.Most household orchids, however, last only six months because they don’t get proper care, he said.”Today, my mother has orchids living happily in her kitchen that I gave her in 1974,” Thomas said. “They really do live a long time once you learn how to grow them.”Orchid boomFortunately, science has made it possible for us to enjoy exotic plants in our homes at relatively little cost. And with proper care, they can thrive there for a lifetime.”Because of recent advances in tissue culture techniques, botanists can easily grow 10,000 orchids from a single plant,” Thomas said.Now, countries like Taiwan and the Philippines profit by exporting millions of their cloned native flowers annually. Georgians today can enjoy the exotic plants by buying orchids from local nurseries or even supermarkets.Orchids commonly found on the market, Thomas said, can be categorized into three general groups:last_img read more

NCUA excluded from proposed systemic risk panel

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Its lack of a financial stability mandate under the Dodd-Frank Act has kept NCUA out of a proposal for a new Systemic Issues Committee released by a public policy group headed by former Federal Reserve Chairman Paul Volcker.This proposal and others are contained in The Volcker Alliance’s report, “Reshaping the Financial Regulatory System.” The report presents numerous recommendations for reorganizing the federal financial regulatory system, but these do not suggest any changes for NCUA.The report suggests that a new SIC be established by the Financial Stability Oversight Council and assume authority to designate “systemically important financial institutions.” The Fed would write rules addressing any SIFI activities or practices that pose a threat to systemic stability; such rules would be implemented by a new Prudential Supervisory Authority.Like the NCUA chair, the Treasury secretary would be excluded from the new SIC. The Treasury secretary is left out to maintain its independence. As to NCUA’s exclusion, report says, “The NCUA does not have a financial stability mandate or supervisory or regulatory authority over any financial institution requiring enhanced prudential standards necessary for maintaining financial stability.” continue reading »last_img read more

Executing upon the credit union value proposition

first_img 39SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mike Higgins Mike Higgins is a partner at Mike Higgins & Associates, Inc. who has authored Filene research papers on measuring and managing credit union performance. His firm consults with credit unions … Web: www.mhaplanningforsuccess.com Details Mike Higgins is a performance management consultant to the financial services industry, a Filene Applied Research Advisor, a Pro-Con Board Governance Institute faculty member and founding investor in a top 10% performing community bank. He can be reached at 913.488.4506 or [email protected] Productivity. If you have taken the time to read this far, you are in for a hidden gem. It’s obvious that the more productive the credit union, the more tangible benefit created for members. A credit union with a lower cost of operations, extracts less from its members to cover its expenses, and therefore has more left over to provide better pricing – a tangible economic benefit – and fulfills the member focused strategic priorities of “recognize employees” and “do good.”Unfortunately, productivity is poorly measured. The two most common productivity metrics, expense as a percentage of assets and efficiency ratio, are horribly flawed because they encourage the most inefficient deployment of member net worth and reward extraction of profit from members.The expense to asset ratio encourages asset growth faster than expense growth. What’s the fastest way to grow assets, outside of merging? It’s by offering the highest rate possible on the least desirable funding source (certificates and IRAs). What are the balance sheet items that take the least amount of activity to support? Certificates, IRAs and investments. So, this is no measure of productivity. In fact, this measure penalizes those credit unions that are thinking “outside the box” and looking at alternative sources of revenue that do not require assets. If you have lines of business such as wealth management, insurance, etc. or add-on products such as identify theft protection or GAP then you have expenses associated with those aspects of operations. The expense to asset ratio penalizes the credit union because it recognizes the expense, but ignores the revenue, even when the lines of business or products are highly profitable.The efficiency ratio (non-interest expense as a percentage of net revenue) while extremely important to banks, it not member friendly. It encourages maximization of profit taking from members due to the net interest income and non-interest income components of net revenue. In addition, it is sensitive to fluctuations in interest rates. A credit union today can truly be more productive today than it was three years ago, but because of changes in interest rates, the efficiency ratio would incorrectly indicate otherwise.A better measure of productivity is net operating expense as a percentage of activity balance. Net operating expense is total non-interest expense less non-interest income. By netting out the revenue from the expense incurred to generate the revenue, we have a better picture of the “net” cost of operations. That is the top number in the ratio. The bottom number in the ratio is comprised of the balance sheet categories which require the most activity to support, namely loans, drafts and regular shares. It excludes the limited activity categories such as certificates, IRAs, money markets and investments. The ratio produces a dollar on dollar measure that cannot be “padded” with low activity balances and is insensitive to interest rates.Provision. Loan loss provision expense is a function of two items. Net charge-offs and the size of the self-insurance fund the credit union must hold against losses in future periods (loan loss reserve on the balance sheet). The more effectively the credit union manages these two areas, the lower the provision for loan loss expense. Risk-based lending may result in higher levels of loan loss provision expense, but it should be offset by higher yield on loans. If that is not the case, then you have members subsidizing losses instead of receiving some form of economic benefit (unless higher levels of credit losses is part of your “do good” strategic priorities).Pricing. The ultimate value proposition for any consumer is the economic value proposition. If you don’t believe me, drive by a Wal*Mart at some off hour of the day or night and notice how full the parking lot is. People don’t go to Wal*Mart to window shop. They go there for low prices. The extent to which you succeed at product mix, productivity and provision, determines how much of a value proposition you can deliver in terms of lower loan yields and higher dividend rates on the same products your competitors offer. The other pricing item is surplus funds yield. The rate of return on assets that are not loans and not on a depreciation schedule.A Self-Governance ScorecardIt is easy to develop a scorecard to monitor performance in these areas as they correlate directly with the member value proposition – maintain the appropriate level of member net worth, effective and efficient use of member net worth via product mix, operating in a productive manner, management of provision for loan loss expense, and the ultimate value proposition, pricing.Such a scorecard will resonate with the board of directors, executives, staff and credit union members because it includes a balanced and robust set of measures that drive toward member focused priorities – sustain the entity while creating tangible economic value for members, recognize the role employees play in making success happen, and impact the world outside of the credit union.For each measure, develop a control chart. A control chart is a simple line chart with a minimum and a maximum value. These values can be established using peer percentiles. For example, the minimum level of acceptable productivity may be set at the 50th percentile (perform at average or better) and the maximum at the 85th percentile (to avoid employee burnout). Performance against the standard is plotted on a periodic basis (monthly, bi-monthly or quarterly). If performance falls outside of the minimum or maximum range, the management team should provide a mitigation plan to move the credit union back within the acceptable range, or the minimum and maximum ranges should be reviewed and updated.The key when developing the ranges is to make sure the sum of the minimum acceptable ranges do not result in the credit union producing an unacceptable rate of return. For example, one might set up the ranges, be within tolerance in each area, and find it is making an unacceptable return on assets. In such an instance, it is where the ranges were set that is the problem, not the measures. Fortunately, it is possible to compute the return on assets assuming each measure is at the lowest point of acceptability to make sure this does not happen. Here is a recap of the measures for the scorecard:Net Worth RatioLoan to Asset RatioRelationship Share (draft, regular) to Asset RatioNon-Interest Income to Asset RatioLoan Yield (lower is better for member value)Surplus Funds YieldCost of Funds (higher dividend rates are better for member value)Net Charge-Offs as a Percentage of Loan BalanceLoan Loss Reserve as a Multiple of Net Charge-OffsNet Operating Expense to Activity Balance RatioBy using a little algebra, combining the minimum acceptable range on each of these measures produces a return on assets figure. That minimum return on assets figure, multiplied by the target net worth ratio, will tell you how much asset growth the credit union can support. If your appetite for asset growth is greater than the minimum return on assets, then you need to go back and revise the targets.The problem with most “blue sky” strategy sessions is they fail to recognize the fact that you operate in a capital constrained industry. You don’t have unlimited access to capital to grow an infinite amount. Because of that, you don’t have unlimited resources to go and “get what you want” from the marketplace.The benefit of this set of balanced self-governance measures is that they tell a story. These are not ten independent measures, they are ten interconnected measures, which if managed within tolerance, will produce a result that will sustain the entity and create value for members at the same time. Start with this set of guidelines, and then devise forward strategies to work within each, and you will literally have a roadmap to success. As one of the board chairpersons that I work with said, “It lets me know that everything is going to be OK.”center_img The mission, vision, purpose or (insert your term here) statement at most credit unions includes some verbiage around creating value for members. Read literature about the advantages of credit unions, and you will see the words member-focused or member-owned. Clearly the concepts around value and operating as a cooperative are differentiators. While the spirit of these concepts is well intentioned, the execution and measurement of success is nebulous and difficult.How can a management team prove they are operating in a value-based and cooperative manner?How can the board of directors ensure the credit union is fulfilling its value-based and cooperative beliefs?How do members know if they are getting a “good deal” for what they have invested in the credit union (i.e., member capital and bankrolling the cost of operations)?Traditional and widely used financial metrics emphasize the wrong things (profit) and objectives such as member satisfaction, customer intimacy, member-based solutions and product innovation are easy to say, but harder to prove that any real differentiation exists.Member Focused Strategic PrioritiesA good place to start in terms of measuring the fulfillment of the credit union ethos is by establishing a series of strategic priorities. The term “priorities” is selected carefully and for reason. There needs to be an order of importance established. Here is an example:Sustain the Entity. The credit union must operate in a safe and sound manner. Failing to meet this most basic of priorities means the credit union will cease to exist. Furthermore, if you cannot accomplish this objective, the remaining priorities cannot be fulfilled. This is similar the bottom layer on Maslow’s Hierarchy of Needs. Without food, water, shelter and sleep, it’s hard to move on to the higher order items.Create Value for Members. This sounds vague but can actually be measured. How to measure it will be addressed in the next section.Recognize Employees. Whether it be monetary, psychological, intrinsic or extrinsic, high performing employees are what make a high performing credit union. Regardless of asset size, personnel related expense is about half of all operating cost. The other half is effectively fixed (premise related, operations, regulation and compliance). People are what drive the success of the organization, not the depreciation schedule on a building or piece of equipment.Do Good. The mission statement for many credit unions expands well outside of serving only its members. It might include community outreach, the support of a specific charity or philanthropy, service to others — both domestic and abroad. The degree to which you can execute upon “do good” is based upon how well the first three priorities are performed.Defining, Targeting and Measuring Member ValueFrom the perspective of creating tangible economic value for members — defining, targeting and measuring performance can be summed up as “Net Worth and the Four P’s”. This set of measures provides focus, fulfills the credit union ethos and supports a hierarchy of member focused strategic priorities.Net Worth. Net worth is cumulative profit extracted from members since the inception of the credit union. It should really be referred to as member net worth (always three words instead of two). It’s the cumulative member investment in the credit union necessary to realize the benefits of its products and services, and the manner in which they are delivered. Because it is member net worth, accumulating more than is necessary is not acting in a fiduciary manner. Every credit union should establish a target minimum and maximum net worth ratio. Operating the credit union too far below the minimum may put the priority of “sustain the entity” in jeopardy, while operating too far in excess of the maximum is overcharging members for the products and services provided.Product Mix. Because a minimum amount of net worth must be maintained for regulatory purposes, the credit union should be good stewards of the profit extracted from its members. Focus on asset growth is misguided because it carries a hidden tax. Assuming a target 10% net worth ratio, for every $10 million dollars in asset growth, members pay a 10% tax, or $1 million dollars, to maintain the target net worth ratio. The focus should be on leveraging net worth, not growing assets for the sake of growth.Let’s put this in more personal terms. If you hire an investment advisor, and they take your net worth and invest it and make a below average rate of return, you are not going to be happy. If you have a strategy session with the advisor to discuss ways to increase your return and the advisor says, “If you give me more to invest, I can make you more money” then you should probably fire the advisor. The right discussion to be having is how assets are being deployed into which stocks, bonds and mutual funds – not how to take more money and make the same below average rate of return.Unfortunately, that’s what credit unions do when they fixate on asset growth. They are taking more dollars from members (the net worth tax) and not investing it any differently, thereby making the same poor rate of return. The right discussion to be having is how can we take member net worth and deploy it the most effectively and efficiently. There are three measures that can be used to address this:Loan to Asset Ratio. How much of the balance sheet is earning the higher loan yield instead of the lower investment (or overnight funds) rate of return? All asset growth starts with liability growth. Growing assets only to place those funds in low yield investments is not a good use of member net worth.Relationship Share to Asset Ratio. How much of our funding sources are of the lower cost, longer lived, less interest rate risk sensitive variety? The larger this figure is, the more it helps “sustain the entity.” It is also a widely used indicator of primary financial provider (PFP) status.Non-Interest Income to Asset Ratio. How much of our income comes from capital independent sources? Most non-interest income revenue streams have no regulatory net worth requirement. If the credit union can provide a wide array of non-interest income products and services that members want, everyone wins and you avoid the asset growth tax. It’s the most efficient use of member net worth because it does not require net worth.last_img read more

Lawsuit filed after CEO’s death

first_img continue reading » Three hours after County Educators Federal Credit Union President/CEO Glenn South died at a New York City hospital on March 30, 2017, someone allegedly deleted documents from the executive’s desktop computer in his Roselle Park, N.J., office.When this allegation surfaced in November 2017, Layne Huttenberger, who was appointed the new CEO just three months earlier, hired a law firm to investigate. He also informed NCUA Examiner Keith Olsen about the security breach.Judy Pinho, who was then CEFCU’s COO and previously served as South’s administrative assistant, made this accusation and alleged someone submitted forged beneficiary documents after South’s death that resulted in benefits being paid to individuals who were not legally entitled to the possible payments of millions of dollars. That led Huttenberger to hire another law firm to look into Pinho’s allegations on the morning of Friday, Dec. 1.By that afternoon, Huttenberger was fired and Pinho was named interim CEO. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

OnePlus 5, 5T Get Oxygen OS 10.0.1 Update With Camera Improvements and September 2020 Android Security Patch

first_imgFor the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. Veer Arjun Singh Veer Arjun Singh is Deputy Editor, News at Gadgets 360. He has written many in-depth features on technology, healthcare, hospitality, and education in the last seven years, besides reviewing latest gadgets across categories. He has also profiled CXOs, entrepreneurs, social workers, lawyers, chefs, and musicians. You can find him as @arjunwadia on Twitter or email him at [email protected] with tips, suggestions, and general observations.More The changelog detailed along with the post mentions many system fixes — including the ones reportedly introduced by the last update — with the major ones being an abnormal call recording issue and a problem with alarms getting deactivated when the phone was powered off. As mentioned, the update brings the September 2020 Android security patch to the OnePlus 5 and 5T, but updates the GMS package to August 2020.Among the major improvements that the Oxygen OS 10.0.1 brings to the aeging OnePlus 5 and 5T is electronic image stabilisation that is known to improve camera capabilities by reducing the chances of blurred pictures. The OnePlus 5T will also get the option to enable the Android 10 back gesture that works by swiping up from the bottom of the screen.Is OnePlus 8T the best ‘value flagship’ of 2020? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.- Advertisement – OnePlus 5 and 5T will be getting a new Oxygen OS 10.0.1 update that brings several bug fixes to the Android 10-based Oxygen OS 10 rolled out for the devices earlier. OnePlus had acknowledged problems with the build of the Oxygen OS 10 after users reported several issues. The company had assured that the product teams were working on a fix “at the highest priority”. The Android 10 update had come to the OnePlus 5 and 5T — launched in 2017 — in May this year, which was much later than expected. The new update claims to fix many system bugs and bring camera improvements along with the September 2020 Android Security Patch.The news of the new update was shared via a post on the OnePlus community page created for the OnePlus 5 series. The post says that the update is being rolled out in a staged manner to make sure it does not have any critical bugs. It says that only a select few users will receive the update today with the rest of them getting it after a few days. It also clarified that using a VPN won’t help in getting it sooner as the update is not region-specific.OnePlus 5, 5T Oxygen OS 10.0.1 update changelog- Advertisement –last_img read more

The army’s salvation

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img