Monthly Archives: February 2017

General Electric: Making Progress, A Debt And Payout Ratio Follow-Up – Seeking Alpha

Posted: February 26, 2017 at 11:08 pm

General Electric (NYSE:GE) recently released its 2016 10-K so I wanted to spend some time discussing the metrics that I first covered in "GE: The 2 Key Metrics To Monitor in 2016" (published in December 2015). In that article, I explained why it would be important for investors to monitor GE's debt balance and payout ratio while the storied company transitions from a misunderstood conglomerate to a more industrial-focused company.

Within this article, I will review these two metrics for full-year 2016 in order to determine how well GE's management team was able to re-position the company over the last four quarters.

The Debt Balance: Where Does The Company Stand?

GE's financing arm, GE Capital, used to account for ~50% of the company's earnings and this resulted in the market viewing (and valuing) the industrial conglomerate more like a financial institution so Mr. Jeffrey Immelt, GE Chairman & CEO, made the game-changing decision to sell off a majority of the financing assets in order to return the company to its industrial roots. The plan was dubbed "A simpler, more valuable GE".

Financing operations are a highly leveraged business so GE consistently had an oversized debt balance, which increased the company's risk profile. Therefore, I have been monitoring GE's debt balance since mid-2015 in order to stay abreast of how well the management team has been able to de-risk the company's balance sheet.

Below is an excerpt of the Statement of Financial Position that was taken from the 2016 10-K. The line items that I will focus on within this article are highlighted in red.

The table below was created with data from the 2016 and 2015 10-Ks, and the balances are broken out between GE (all affiliated companies except GE Capital) and GE Capital.

(Sources: 2016 10-K and 2015 10-K; table created by W.G. Investment Research LLC)

* - Total debt balance in the table only represents the company's short-term and long-term borrowings for the respective period-ends. See linked reports for additional liabilities (e.g. accounts payable, dividends payable, etc.)

The biggest takeaway from the table, in my opinion, is that GE's consolidated debt balance is down by ~$185b, or ~50%, since 2014. Yes, industrial GE currently has a higher debt balance ($16b in 2014 vs $79b in 2016) but this is a necessary evil that management will have to contend with as the company continues to shift its focus more towards the industrial businesses and the financing Verticals. Another important takeaway is the fact that GE Capital still makes up ~60% of the consolidated debt balance so, in my mind, there is an opportunity to further reduce the company's leverage as the financing assets are sold over the next two plus years.

The trending of GE's consolidated debt balance shows that management has made significant progress in reducing the company's financial leverage in a short period of time, but I do believe that more work needs to be done. As a long-term investor, it is encouraging to see GE's focus shift more towards its industrial business because a purer play industrial company will eventually warrant a richer valuation once the market is sold on the company's transition.

Payout Ratio

Before I touch on GE's payout ratio, I wanted to first show the progress that has been made to reduce the company's share count.

GE Average Diluted Shares Outstanding (Quarterly) data by YCharts

GE's share count has declined by over 1b shares, or over 10%, in three short years. The company has had to sell off financing assets to fund some of the buybacks but the management team has already been able to make up for the lost earnings.

GE Net Income (Quarterly) data by YCharts

(Full Disclosure: the 2015 earnings were impacted by the "one-time" charges related to the GE Capital asset sales)

Therefore, not only is GE's share count down significantly since 2014 but the company has also already been able to replace most of the lost earnings and the earnings are now largely coming from the industrial businesses.

GE maintain a $0.23 quarterly dividend throughout 2016 so the company paid out ~60% of its operating earnings. Management increased the quarterly dividend by $0.01, or 4%, in December 2016 so the company is projected to also have an ~60% payout ratio in 2017 (based on the low-end of the forward operating earnings estimate). Mr. Immelt and company wants GE's payout ratio to be between 45-50% so investors should start to bake in the fact that the company's dividend will likely only slowly grow through 2018. However, looking out past 2018, I believe that the shrinking share count will allow for GE to jump back into dividend growth mode, especially if the restructuring is complete.

Bottom Line

The management team is making great progress in reducing GE's debt balance and share count, but investors should not expect for substantial dividend raises anytime soon. In addition, many people in the financial community, including myself, believe that GE will soon be taking on more debt (read about this topic here) but I still do not believe that the company's financial leverage should be viewed as a significant concern, at least not yet.

GE shares are trading at what is widely viewed as a "fair" valuation, but, in my opinion, this company has the potential to greatly improve earnings over the next decade. Management already re-affirmed the 2018 EPS estimate of $2.00 plus, so based on this estimate GE shares still have room to run. Moreover, GE currently pays an above-average dividend and the company has several significant catalysts in place - Alstom integration, Baker Hughes (NYSE:BHI) merger, Industrial Internet Of Things (IIoT) growth - that have the potential to create a great deal of shareholder value in the years ahead. As such, any significant dips in GE's stock price should be viewed as long-term buying opportunities.

Note: I will be diving deeper into GE's 2016 10-K over the next few weeks so please let me know if you have a topic that you would like covered.

If you found this article to be informative and would like to hear more about this company, or any other company that I analyze, please consider hitting the "Follow" button above.

Disclaimer: This article is not a recommendation to buy or sell any stock mentioned. These are only my personal opinions. Every investor must do his/her own due diligence before making any investment decision.

Disclosure: I am/we are long GE.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Special report details progress in city and region – Times Record News – Times Record News

Posted: at 11:08 pm

Bridget Knight , Wichita Falls 7:45 a.m. CT Feb. 26, 2017

Construction is in full swing at the Career Education Center on Hatton Road. The $28 million project will allow the Wichita Falls ISD to provide skills training on 25 different career paths such as culinary arts, auto mecahnics and welding.(Photo: Torin Halsey/Times Record News)Buy Photo

Today, the Times Record News releasesits "Progress: Winds of Change" special report, underlining the significant advances made by our government, schools, businesses and people during the past year.

Change is important throughout our nation, most notably at the top of our government. Local government hasseen a changing of the guard as well, with new faces in the mayor's office and on the city council, school board and county commissioners court.

In downtown Wichita Falls, change is marked by the pounding of hammers, as a new generation of entrepreneurs remake old buildings as gourmet eateries, vintage retail exchanges and artistic spaces. A slew of new events are making sure residents have reason to venture to the city center to see the growth. Beyond the bordersof the city, windmills are rising at a ferocious pace, fueling hopes for renewable energy while worrying those in charge of aviation and weather radar.

Kathryn Hager displays some of her original Wichita Falls and Texas t-shirt designs at her store, Little h Creative, at 822 Indiana. Hager also offers work from local artists and a loft space venue for parties, events and craft parties. (Photo: Torin Halsey/Times Record News)

Our schools and universities are charging forward as well. Wichita Falls ISD is excitedly awaiting the completion of its new career education center, which will put training for in-demand career fields within reach of high school students. For college-bound students, the district is adding more dual-credit classes, and for younger students, the conversion of the city's three junior highs to middle schools is now complete.

Midwestern State University, like WFISD, has been in the midst of a building boom, with a futuristic dorm, re-envisioned dining experiences and more water efficient sports fields now in place. A new satellite campus in Flower Mound and continued on-campus construction will keep the university busy into the future.

Graham decided to build an entirely new wastewater treatment plant, noting that the dilapidated city plant, seen here, could suffer a major failure at any time.(Photo: Contributed photo)

Steady growth is not limited to Wichita Falls institutions, however. Neighboring towns like Henrietta are seeing unheard-of spurts of growth with new apartment complexes, travel centers, roads and municipal complexes. Many cities, spurred by problems uncovered during the drought, are reworking or replacing elements of their municipal water treatment and distribution systems. Others are pointing with pride to projects built on can-do community spirit, like Olney's new community walking trail and park upgrades.

North Texas has plenty of progress to be proud of this year. The Winds of Change are blowing in our favor.

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The Essential Animation Charms of ‘My Life as a Zucchini’ and ‘The Red Turtle’ – Film School Rejects

Posted: at 11:06 pm

If you have young children and arent a professional movie viewer, chances are youre only well-acquainted with this years Oscar nominees for Best Animated Feature. And even then, youve probably still only seen three of the contenders, the two Disney productions, Zootopia and Moana, and maybe the stop motion adventure Kubo and the Two Strings. That last one may even have been a little too scary for your kids. As for the other two, My Life as a Zucchini and The Red Turtle, theyre foreign-made movies that arent easy family fare, and they havent been widely available.

Until now. Possibly. Depending on where you live. This weekend, The Red Turtle is making its way to theaters beyond the nations major cities, though its still a relatively limited number of locations. Also this Friday, which just so happens to be the start of Oscar weekend, My Life as a Zucchini opens in New York City and Los Angeles, kicking off its own rollout across the rest of the country through March. Neither will win the Academy Award, but whether youre able to see them before Sundays show or only afterward, they must not be dismissed or forgotten about as also-rans.

Its hard to argue that either of them deserve the Oscar over the three mainstream American movies, because theyre just so different from the usual anthropomorphic animal stories and singing princess fairy tales and more calculated yet less soulful stop motion efforts. It doesnt matter which takes the prize, as together the five films offer a wonderful range of animation delights. And My Life as a Zucchini and The Red Turtle represent the most distinctly different achievements of the bunch. With the former, though, you just need to be sure you see the right version.

My Life as a Zucchini is a coming-of-age movie, directed by Claude Barras based on the 2002 French novel Autobiographie dune Courgette, about a kid nicknamed Zucchini who accidentally kills his alcoholic mother. He winds up in a small foster home, finding a kind of family there among the other abandoned and orphaned children and their caretakers. Although the new movie version has been sanitized somewhat from the book, which isnt exactly for young readers, the story as well as some of the themes and visuals are most appropriate for viewers aged in the double digits.

Plus, to best appreciate My Life as a Zucchini, youll want to see the original French-language version, and yes that means youll want the subtitled rather than the dubbed release. Fortunately, most theaters will be showing both versions. Heres what you get with the original that you dont get with the dubbed incarnation: the child actors who voice the children characters (including Gaspard Schlatter as Zucchini) have a natural, almost improvisational quality to their speech, the result of Barras not making them memorize their dialogue so much as speak the lines in their own words.

That approach really makes the film, fitting well with the crude yet cute character design. The voice acting in the dubbed version (which includes famous adults like Nick Offerman and Ellen Page, as well as child actors who sound like veteran professionals in spite of their age, including Erick Abbate as Zucchini), has a more conventional, polished sound that feels overproduced and not at all right for the story. Knowingly emphasizing its voice work, My Life as a Zucchini also has a bonus scene during the end credits depicting, in animation, Schlatters casting session (the dubbed version includes the scene intact with Schlatters voice, subtitled, which doesnt make much sense after watching with Abbate voicing the role).

As for the rest of the movie, its fine, often very sweet, and it handles the heavy themes of death, drug abuse, child abuse, and more very well from the perspectives of the children. I do wish My Life as a Zucchini was better focalized with regards to it being Zucchinis story, as the title claims and as the bits of voiceover narration adhere to; for a while its much more concentrated on another one of the orphans. But otherwise theres nothing to criticize thats not wholly subjective and a matter of my personal dislike of the look of some of the characters, specifically their scratchy red noses.

The Red Turtle is a little easier on the whole family, as theres almost no dialogue, and what little there isa few utterances of hey!requires no English-language version. No subtitling, no dubbing. Its a marvelously visual film, though its possibly too slow for younger children anyway. Its not a kid movie nor an adult movie. Its not for any audience in particular other than one that likes to be enchanted by visual storytelling and basic fairy tale and mythology plots. The story concerns a castaway who one day encounters a large sea turtle that magically changes the course of his desert-island-dwelling life.

Directed and co-written by Dutch animator Michael Dudok de Wit (a previous Oscar winner for his 2000 short, Father and Daughter), The Red Turtle has its own issues, but theyre minor and Im nitpicking to address them. As much as I love that the film is dialogue-free, that actually becomes somewhat implausible for the story in the latter half. The first part is also much more exciting in its depiction of the adventurous survivalism of the stranded man. And there are a lot of questions that arise about where the story goes that cant be answered because theres nobody to explain the details or the characters motives.

Yet every single shot in The Red Turtle is perfect, especially because of the intricate and beautifully imagined backdrops, and in terms of just what is on screen, the story action is directed faultlessly. While theres not always the greatest emotional connection to the characters, between them or for the audience, the film is occasionally pretty affecting for something of its simple 2D hand-drawn style. We dont get many films of any format so lacking in their dependence on dialogue these days, and its essential that we see more like this and the past-nominated works by Sylvain Chomet.

The essential charms of My Life as a Zucchini and The Red Turtle are contrasting components. The former is worth seeing for its voice work and what it does freely with its dialogue, while the latter is a must-see feature because of its lack of voice work (and coming from Studio Ghibli, whose films tend to get distracting celebrity-filled dubs, thats really notable) and what it does freely with its imagery, including fantastic dream sequences. They face strong mainstream competition at the Oscars this year, but hopefully they at least benefit in the notice of being nominated.

See them both once theyre playing near you.

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Outcry over Dalai Lama threatens free speech – The Daily Cardinal

Posted: at 11:03 pm

The Dalai Lama has been criticized by the Chinese government and Chinese students in the United States.

University of California-San Diegos decision to invite Dalai Lama for commencement is troubling, while the Chinese protesters opposed Free Speech and branded their blind patriotism

On Feb. 2, UC-San Diego made the official announcement that His Holiness the 14th Dalai Lama, a well-known advocate of Tibetan independence from the Peoples Republic of China, will be speaking at the commencement ceremony. Waves of shock and anger swept through the Chinese international student communities in UCSD, and soon, Chinese international student communities across the US. A fierce debate ensued between the supporters and critics of the Dalai Lama, with much vitriol. As a Chinese international student myself, I feel obliged to share some of my thoughts on the controversy. But before that, I want to clarify that this article does not concern itself with the historical aspects of the legitimacy of Peoples Republic of Chinas territorial claim in Tibet, the complexity of which is only to be resolved through collective efforts.

The Dalai Lama has been a well-respected person across the political spectrum in the west, though he is not without critics. Christopher Hichens, in his 1998 article on the Dalai Lama His Material Holiness, wrote Chinas foul conduct in an occupied land, combined with a Hollywood cult that almost exceeds the power of Scientology, has fused with weightless Maharishi and Bhagwan-type babble to create an image of an idealized Tibet and of a saintly god-king. Indeed, the Dalai Lama, and the people who met with him and praise him, have been in a decades-long, cynical and opportunistic symbiosis of realpolitik, with a distinctive flavor of orientalism.

The Dalai Lama has been supportive of the assembling of thermonuclear arsenal by India in the 1990s, he has made the remark that any women successor to him has to be attractive, and he has not only stayed silent on former President Bushs illegitimate invasions of Afghanistan and Iraq, but said that he loved Bush. Countless incidents have lead people who had faith in liberal principles to doubt the Dalai Lamas commitment to his ideals, let alone his recent statement that he had no worries about thenpPresident-elect Donald Trump.

Maybe its my poor grasp of the Buddhist doctrine of inner peace, but I am very worried, as a foreigner in the US, about Trump (though that is another story). That is why the decision of UCSD to invite the Dalai Lama for a commencement speech is troubling. As a renowned institution in public education, UCSD should cherish genuine secular and liberal values, inviting people who are sincerely devoted to making the world a better place rather than shrewd political opportunists.

Even though UCSDs decision raised questions, the reaction by Chinese international student communities is a shameful one. One day after the announcement by UCSD, the Chinese Students and Scholars Association at UCSD published a statement on WeChat denouncing the decision, and on its thumbnail it reads Whoever tries to sever my motherland must be destroyed regardless of propinquity (the original is in Chinese, and the translation is literal). The article tells the Chinese international students at UCSD to remain calm, and wait for and listen to the unified directives issued by the Chinese Embassy. The article also described the Dalai Lama as devoted to sabotaging the territorial integrity and ethnic solidarity of our mother country. In the end, the article expresses the determination of CSSA to take strong measures to protest the speech by the Dalai Lama.

This incident is just an add-on to a series of anti-free speech outbursts on UC campuses. Two years ago, students at Berkeley tried to remove the political polemicist Bill Maher from the commencement speech, and in early February prevented right-wing political commentator Milo Yiannopoulos from giving a speech. However, this time the protesters are motivated by a far more invidious sentiment than political correctnessblind patriotism.

The claim of the Dalai Lamas intention to sabotage racial harmony is highly dubious. It makes the strong assumption that there is an already established racial harmony, which requires strong evidence. But this is irrelevant here, as what is at stake is the core of liberal democracy: free speech. Free speech, in its broad sense, consists of both the tolerance for the right of others to speak, and the independence with which we think and speak. The whims of the Chinese Embassy and government should not dictate what Chinese international students think, and what Chinese international students think should not interfere with whether or not the Dalai Lama speaks at commencement.

Philosopher Karl Popper wrote in his famous The Open Society and its Enemies the conflict between rationalism and irrationalism has become the most important intellectual, and perhaps even moral, issue of our time. Unfortunately, what Popper has said during the carnage of the Second World War is still true, if not truer, today. The most efficient way to promote rational thinking is by exchanging ideas, and the best way to expose lies is by having people utter them. To my fellow Chinese students: think independently whether you agree with the Dalai Lama or not, and most importantly, let him talk!

Fact is that to which there is no alternative. And facts can only be respected if we continue to champion secular and liberal values in university campuses, be open to new ideas, and dare to be challenged.

Runkun is a junior majoring in philosophy. Please send all comments, questions and concerns to opinion@dailycardinal.com.

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The Night Berkeley Betrayed The Free Speech Movement – Breitbart

Posted: at 11:01 pm

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In 1964, Berkeley student Mario Savio addressed his peers in a speech about the importance of the free and open discussion on college campuses. In his address, Savio argued that the university must return to its intended function where students are invited to explore all ideas both radical and mainstream freely and without fear of social or academic repercussion.

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Its been said, that you know weve been revolutionaries, and all this sort of thing uh in a way thats true. Weve gone back to a traditional view of the university. The traditional view of the university is a community of scholars of faculty and students get together who um you know, with complete honesty who bring the hard light of free inquiry to bear upon important matters in the sciences but also in the social sciences the question of just what ought to be not just what is.

Before discovering the work that the Berkeley free speech activists did under Savio in the 1960s, MILO inspired me to write a manifesto for college students who, in 2016, desired a similar return to form for American universities. Interestingly, a lot of the language in my manifesto echoed the sentiment offered by Savio over 50 years ago.

Savio directly called for a return to the universitys original function; a place where scholars of all political persuasions can come together and participate in freeinquiry. In my early 2016 rally cry to my conservative and libertarian peers, I argued for something very similar.

The tides are changing on the American college campus. Authoritarian administrators and faculty members and pearl-clutching campus social justice warriors are finally being challenged bya new brand of radicals poised to reclaim the American university and return it to its original function and purpose: expanding young minds.

When I first learned about Savio, I felt an instant connection to him. Aside from being 22-year-old champions of free speech and intellectual freedom on our campuses, Savio and I are both of Sicilian-American ancestry. We also both put in time as altar servers at our local Catholic churches. Despite our similarities, Savio and I diverge when it comes to personalpolitics except when it comes to free speech.

Saviojoined the socialist party as a symbolic rejection of the two-party system thatdominated the politics of not only the country but also the University of California in the 1960s. But despite our ideological differences, Savio and I sought something very similar for our campuses the return of the university to a place where students and faculty of all political persuasions are encouraged and feel welcome in expressing themselves without fear of social or academic repercussion.

Tonight, fires blazed across the same parts of the University of California, Berkeley campus from which Savio once addressed his fellow students. Attendees were attacked and left bleeding by mask-wearing thugs. Windows were smashed. A girl was pepper-sprayed.

By responding to MILOs call for no restrictions on the content of speech as Savio did so many years ago with riots and violence, the Berkeley socialists of 2017 that participated in the riots have betrayed the efforts ofthose that came before them.

Tonight, Fox 10 Phoenix anchor John Hook, during a live broadcast of the Berkeley riots, argued that MILO made his point without saying a word.

Now more than ever, we need to listen to Savios impassioned plea for a return to a university thatvalues a diversity of perspectives, keeping in mind that, tonight, some of the students who follow in the tradition of socialistic activism at UC Berkeley burned the ground on which he once spoke in the demand that the university censor speech that they found objectionable.

Tonight, Berkeley betrayed the free speech movement for which the institution is famous. The university has much work to do if it is to protect the legacy of Mario Savio and reclaim the values espoused by the Free Speech Movement of some 50 years ago.

For the rioters, engaging with MILOs call for open discussion and intellectual freedomon college campuses wouldnt be a bad start.

Tom Ciccotta is a libertarian who writes about social justice and libertarian issues for Breitbart News. You can follow him on Twitter @tciccotta or email him at tciccotta@breitbart.com

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College Campuses Have No Right to Limit Free Speech | Time.com

Posted: at 11:01 pm

The campus of the University of ChicagoLonely PlanetGetty Images/Lonely Planet Images

In grade school, I learned that debate is defined as "a discussion between people in which they express different opinions about something."

Such open discourse was historically encouraged on our college campuses. Universities exemplified intellectual discussion and debate in America. No one voiced their opinions louder than students, professors and administrators. They pushed societys limits by admitting women and people of color, and by encouraging diversity of thought amongst the college community . Historically, young people flocked to universities to learn more about the world around them, to encounter people from different backgrounds, to expand their minds and to form their own opinions.

Unfortunately, things have changed. Recently on college campuses, our open discourse has been threatened, particularly when discussing politics.

While the current presidential election represents polarizing wings of both the Democratic and Republican parties, we should be able to openly debate their policies and the direction in which they plan to take our country if elected. We should be able to discuss the abuse of power within our government and the consistent violations of our Bill of Rights. We should be able to participate in the free market of ideas. But our students are being silenced.

University campuses are now home to a plethora of speech restrictions. From sidewalk-sized free-speech zones to the criminalization of microaggressions , Americas college campuses look and feel a lot more like an authoritarian dictatorship than they do the academic hubs of the modern free world. When rolling an inflated free-speech ball around campus, students at the University of Delaware were halted by campus police for their activities. A Young Americans for Liberty leader at Fairmont State University in West Virginia was confronted by security when he was attempting to speak with other students about the ideas he believes in. A man at Clemson University was barred from praying on campus because he was outside of the free-speech zone. And a student at Blinn College in Texas abolished her campus free-speech zone in a lawsuit after administrators demanded she seek special permission to advocate for self-defense.

How have we let this happen in America, the land of the free?

Its because of what our universities have taught a generation of Americans: If you dont agree with someone, are uncomfortable with an idea, or dont find a joke funny, then their speech must be suppressed. Especially if they dont politically agree with you.

Instead of actually debating ideas that span topics from the conventional to the taboo, a generation of American students dont engage, they just get enraged . In doing so, many students believe that they have a right to literally shut other people up . This is not only a threat to the First Amendment, but also to American democracy.

In their manifestation, safe spaces and free-speech zones at public universities enable prejudice against unfavorable ideologies. Guised as progressive measures to ensure inclusion, these often unconstitutional policies exclude new and competing ideas, and are antithetical to a free academia. In excluding different ideologies, supposedly progressive campus speech codes do one thing: prevent the progression of ideas. Restrictive campus speech codes are, in fact, regressive.

With over 750 chapters nationwide at Young Americans for Liberty, we are fighting against public universities that stifle free speech. We've launched the national Fight for Free Speech campaign to reform unconstitutional speech codes and abolish these so-called free-speech zones on college campuses. By hosting events such as large free speech balls, YAL chapters across the country are petitioning their campuses to adopt the University of Chicago's principles on freedom of expression the hallmark of campus speech policies. Our members have geared up with First Amendment organizations to ensure that their free speech rights on campus are protected.

America is a land rooted in the ideas of a free society: the freedom to be who you are, to speak your mind and to innovate. By silencing our students and young people, we have started down a slippery slope. It is up to us to fight back to ensure that our First Amendment rights remain protectednot just on college campuses, but everywhere in America.

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Free Speech For People Staff – Free Speech for People

Posted: at 11:01 pm

John Bonifaz, Co-Founder and President

John Bonifaz is the Co-Founder and President of Free Speech For People. Mr. Bonifaz previously served as the Executive Director and then General Counsel of the National Voting Rights Institute, an organization he founded in 1994, and as the Legal Director of Voter Action, a national election integrity organization. Mr. Bonifaz has been at the forefront of key voting rights battles in the country for more than two decades: pioneering a series of court challenges, applying political equality principles, that have helped to redefine the campaign finance question as a basic voting rights issue of our time; initiating and leading a legal strategy for revisiting Buckley v. Valeo in the courts;leading the fight in the federal courts in Ohio for a recount of the 2004 presidential vote in that state; and prevailing in federal court in Pennsylvania on the eve of the 2008 election to ensure that Pennsylvania voters would receive emergency paper ballots when they faced long lines caused by voting machine breakdowns. In addition to his work in the field of voting rights and democracy advocacy, Mr. Bonifaz has also served as co-counsel in international human rights and environmental litigation, including litigation to hold the Chevron-Texaco oil company accountable for its widespread destruction of the Ecuadorian Amazon. Mr. Bonifaz is a 1992 cum laude graduate of Harvard Law School and a 1999 recipient of a MacArthur Foundation Fellowship.Back to top.

Oske Buckley is the Director of Administration and Finance for Free Speech For People. Ms. Buckley has served as the Administrative Assistant for Voter Action. Prior to joining Voter Action, Ms. Buckley worked as the Development Associate and Administrative Associate for the ACLU of Kansas and Western Missouri, where she managed the organizations donor database, engaged in event planning, coordinated and supervised volunteers, and carried out numerous administrative responsibilities. Ms. Buckley received her BA from Hendrix College in 2005 and MPA from Evergreen State College in 2013.Back to top.

Steve Cobble is the Senior Political Advisor for Free Speech For People. Mr Cobble is also an Assistant Fellow at the Institute for Policy Studies (IPS). Mr. Cobble is a longtime activist on both voting and campaign finance reform issues. He is a co-founder of AfterDowningStreet.org and Progressive Democrats of America, and has written for The Nation, HuffingtonPost, TomPaine.com, The Progressive, and many other magazines and newspapers. Mr. Cobble is a former Political Director and speechwriter for the National Rainbow Coalition, served as the National Delegate Coordinator for Jackson for President 88, and directed the Keep Hope Alive PAC. He has worked on electoral campaigns at every level from state legislature to mayor to Congress to Senate, and has had a serious role in seven presidential campaigns, from McGovern to Kucinich. Mr. Cobble once directed the Arca Foundation, served as a Fellow at Harvards Institute of Politics, and conducted election training workshops for the African National Congress in South Africa in 1991.Back to top.

Edward Erikson is a Communications Consultant for Free Speech For People. He is the Founder and President of Erikson Communications Group. Mr. Erikson specializes in the integration of social, earned and paid media across all platforms in order to tell stories, engage people and advance issues. He has been featured in CNN, Politico, Huffington Post, TechPresident, Bill Moyers and other outlets. He has taught courses in Political Theory, American Political Thought, Media and Politics at the University of Massachusetts, Amherst and was the recipient of the 2012/2013 Distinguished Teaching Award. He received his MA in Communication, Culture and Technology from Georgetown University.Back to top.

Ron Fein is the Legal Director for Free Speech For People.Mr. Fein previously served as Assistant Regional Counsel in the United States Environmental Protection Agencys New England office, where he received the EPAs National Gold Medal for Exceptional Service, the National Notable Achievement Award, and several other awards.Mr. Fein supervised the offices Clean Air Act practice and won several major cases, including a first-in-nation air quality permit for an offshore wind farm and a nationally recognized settlement requiring a power plant to virtually eliminate its use of a local river.Mr. Fein previously clerked for the Honorable Kermit Lipez of the United States Court of Appeals for the First Circuit and the Honorable Douglas Woodlock of the United States District Court for the District of Massachusetts. He has also worked as an independent consultant to non-profits, as deputy campaign manager of a congressional campaign, and in software development, for which he was awarded nine patents.Mr. Fein graduated Order of the Coif from Stanford Law School and summa cum laude from Harvard College.Back to top.

Jasmine Gomez is the 2016-18 Democracy Honors Fellow at Free Speech For People.

Ms. Gomez, a graduate from the Boston University Law School, served on the Journal of Science and Technology Law and has written about potential state responses to corporate Big Data surveillance. She has held a number of leadership roles at the law school, including as Co-President of the Latin American Law Student Association, Vice President of the American Constitution Society, Co-Chair for the First-Year Advisory Program at BU, and Networking Chair for OutLaw. During her leadership positions, Jasmine helped create, facilitate, and host at least 30 events at the law school and around the city of Boston. She also received the Emerging Leader Award from the Black Law Students Association.

While in law school, Jasmine interned at the Charles Hamilton Houston Institute for Race and Justice and the National Consumer Law Center, and has done pro bono work for the Mississippi Center for Justice and several Boston public schools. At the Charles Hamilton Houston Institute for Race and Justice, located in Harvard Law School, Jasmine researched and critiqued a variety of legal and policy issues that cause harm to communities of color. She examined prosecutorial misconduct and Title VI enforcement, worked on a team to create a robust website that connects nonprofits working on anti-racism work around the country, and worked with other organizations to create the first Massachusetts state-wide conference on criminal justice reform: Massachusetts and the Carceral State.Back to top.

Bri Holmes serves as Free Speech For Peoples Digital Media Strategist. She brings with her several years worth of digital campaign experience, as well as a background in producing a variety of multimedia content. She worked on President Obamas 2012 reelection campaign and with local elections, labor unions, a nonprofit biotech, the Aspen Institute and a public radio station. Ms. Holmes is driven by the ability of technology to activate and inspire new movements, and its potential to cross party lines and bring a new awareness to long standing issues. She is focused on the crossroads of social media, the arts and political action. Ms. Holmes received her BA from UC Davis in 2011.Back to top.

Brenna Kupferman is the Development Directorfor Free Speech For People. Previously, Ms. Kupferman held the position of Director of Development at GoodWeave, International. Prior to her time at GoodWeave, she spent more than 13 years at ActionAid USA, including as Director of Development, developing the organizations fundraising for work in the US and around the globe. Her development work has focused primarily on foundations and major gifts, and overall strategic planning. Ms. Kupferman received her BA from Bennington College and holds a University Certificate in Teaching English as a Second Language from Akron University.Back to top.

Aspen Webster is the Administrative and Development Assistant for Free Speech for People. Ms. Webster has worked in a variety of nonprofit organizations in operations, development, and programmatic capacities. She served as the Operations Manager for the National Network of Abortion Funds in Boston, MA, where she was responsible for database management, administrative duties, and event planning. Ms. Webster is dedicated to creating a just and equitable society through legal and community efforts. She graduated summa cum laude with a BA from Tufts University in 2011. Back to top.

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Survey: Fraud-free elections, free speech, key to democracy – Concord Monitor

Posted: at 11:01 pm

A survey of U.S. political science professors a month into Donald Trumps presidency shows that fraud-free elections tops a list of 19 principles as most essential to democracy, as do free speech and a free press.

Political scientists at Dartmouth College, the University of Rochester and Yale University collaborated on the survey as part of an initiative they called Bright Line Watch. They wanted to get the experts reading on the status of democratic practices and potential threats to American democracy.

Dartmouth professor John Carey said the groups motivation was impatience with many news articles saying the sky is falling with regard to the status of American democracy since Trumps victory. He added: What were doing is not motivated by a partisan agenda; its really an intellectual agenda.

Participants were asked to rank principles on how important they are for a democratic government, and then rate them on how well they describe the United States now. Clean elections and equal voting rights were ranked as high priorities for democracy.

One principle, that elections be free from foreign influence, was regarded by the vast majority as essential or important. But less than half thought the U.S. mostly or fully meets this standard, and a number said they werent sure if it did. The results probably speak to how new and unsettling the prospect of foreign interference is for many political scientists, said Yale University professor Susan Stokes, who co-organized the survey.

My own hunch is that anxiety about this issue is related not just to reporting that there was Russian influence (in the November presidential election), but also to reports of the insidious nature of that influence that it was carried out in a highly clandestine manner through hacking, and that its true nature may never be revealed, she said.

U.S. agencies, including the FBI, have been probing Russian interference in the 2016 election. Three congressional committees are conducting separate investigations into the issue, including contacts between Russian officials and members of the Trump campaign and administration.

The principle of all votes having equal impact on election results ranked low on the priority list for democracy, probably reflecting long-standing institutions of electoral exclusion and wide socioeconomics inequalities that have been matters of concern for many years, the study said.

Rated as least essential is that politicians campaign without criticism of their opponents loyalty or patriotism.

The group surveyed 9,820 professors at 511 U.S. institutions by email Feb. 13 through 19, and received 1,571 responses. The survey sample was compiled from a list of U.S. institutions represented in the online program of the 2016 meeting of the American Political Science Association conference.

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A Look at Fordham’s Freedom of Speech Policies | Fordham Observer – Fordham Observer

Posted: at 10:59 pm

By STEPHAN KOZUBNews Co-Editor

When it comes to college campuses, freedom of expression can be particularly difficult to navigate. At Fordham, there is a Demonstration Policy, a Speakers Policy, a policy pertaining to Bias Related Incidents and/or Hate Crimes, a Distribution of Literature Policy and a Publicity and Posting Policy.

By its very nature, the University is a place where ideas and opinions are formulated and exchanged, the universitys policy on dissent reads. Each member of the University has a right to freely express his or her positions and to work for their acceptance whether he/she assents to or dissents from existing situations in the University or society.

The following statement in the policy, however, sets the tone for the policies overall.

To insure that freedom is maintained, expressions of assent or dissent cannot be permitted to infringe on the rights of the members of the University community or the community itself not only their freedom to express positions, but their freedom to engage in other legitimate activities, the Demonstration Policy reads. Actual or threatened coercion or violence are abhorrent in a University because they can destroy those rights and freedoms which are necessary for the existence of the University.

That philosophy is present in the Demonstration Policy. Approved demonstrations are allowed to proceed, as long as they do not hinder entrances, exits, passageways and the normal flow of pedestrian or vehicular traffic, do not create a disruptive amount of noise, employ force or violence or constitute an immediate threat of force or violence, disrupt the universitys normal functions, or fail to fulfill the responsibilities of organizers and participators outlined in the policy.

In order to hold a demonstration, students must schedule a meeting with the Dean of Students, who will meet with the organizer(s) within one business day, according to the policy. The demonstration cannot be scheduled any less than 2 business days after the meeting. The Demonstrations FAQ page, however, states that in some cases, the Dean can work with groups on even more rapid turnaround.

The page also states that a request to use space at Fordham for a protest or a demonstration has never been turned down based on the viewpoint or content of the protesters/demonstration.

The purpose of that meeting is to get a sense of their parameters, what theyre looking to do, with a focus on time, place and manner and impact on the rest of the university community, Dean of Students Keith Eldredge explained. So from that conversation, then I go to the space planners on campus, the folks that oversee reservations for the outside plaza or if somebody wants to do something in a classroom or meeting room.

He explained that in situations where students want to protest an event on campus, they would try to find a way to make it work. Were not going to put you in the multipurpose room in 140 for an event thats happening in the atrium, he said. That doesnt make any sense. But where could you reasonably be thats going to allow the event to continue in the way that its designed, but also give you the presence for what you want to have?

The consequences of violating the Demonstration Policy vary, according to Eldredge.

Generally, and I would say this for many violations, a first time offense with no mitigating factors is going to get a low level sanction, he said. Among the possible sanctions are a written warning, Residential Life Probation or Student Life Probation.

As outlined on the universitys website, a Residential Life Probation constitutes a warning that future violations of the residence hall regulations or University Code of Conduct will result in dismissal from the residence halls and that residents on probation at the time of the housing lottery will automatically be placed in overflow housing unless notified that this condition of Residential Life Probation is waived by a hearing officer. Under Student Life Probation, a commuting student is warned that future violations of the University Code of

Conduct or residence hall regulations on or off-campus may result in further and more serious sanctions, including University Disciplinary Probation.

Eldredge said, however, that if a demonstration engages in harassing behavior towards the community or does things like block the entranceway or goes into classrooms and disrupts the academic business of the campus, that would warrant a higher level of sanctions versus a demonstration thats simply unregistered.

The Speakers Policy is broader, with the three main prohibitions being that speakers cannot threaten to endanger the safety of any member(s) of the University community, pose a threat to the physical facilities, or obstruct or disrupt the normal functions of the University. It adds that expression that is indecent or is grossly obscene or grossly offensive on matters such as race, ethnicity, religion, gender, or sexual preference is inconsistent with accepted norms of conduct at the University and that obviously, and in all events, the use of the University forum shall not imply acceptance or endorsement by the University of the views expressed.

Fordham ran into its own issues with controversial speakers back in 2012, when the College Republicans tentatively booked Ann Coulter to speak at the university.

To say that I am disappointed with the judgment and maturity of the College Republicans, however, would be a tremendous understatement, University President Rev. Joseph M. McShane, S.J., said in a statement to the College Republicans at the time. There are many people who can speak to the conservative point of view with integrity and conviction, but Ms. Coulter is not among them. Her rhetoric is often hateful and needlessly provocativemore heat than lightand her message is aimed squarely at the darker side of our nature.

McShane preceded this statement, however, with Student groups are allowed, and encouraged, to invite speakers who represent diverse, and sometimes unpopular, points of view, in keeping with the canons of academic freedom. Accordingly, the University will not block the College Republicans from hosting their speaker of choice on campus.

The College Republicans cancelled the event, a decision which McShane commended in a later statement.

Eldredge said that the policy of the university is to try to give pretty wide latitude when it comes to speakers and their points of view, unless it gets into that area of violence, danger, or safety issues as outlined in the policy.

Regarding Posting and Publicity, the United Student Government (USG) is working on establishing a Community Posting board on the garden level of the 140 W. building. Previously in place outside of Student Affairs old office in the Lowenstein building, the board offers students not affiliated with clubs and official entities at the university a space to post flyers with Student Affairs approval.

Regarding preserving freedom of expression and safety on campus, Eldredge said that I think a big piece of my job is focused on the safety and well-being of students.

I think if students dont have the basic levels of safety taken care of, we cant get to those other issues, and so safety has to be paramount, he said. And that cuts across not just speakers on campus or demonstrations, but a lot of the work we do related to student discipline, our alcohol policy, our approach to the amnesty policy for alcohol issues and our approach to sexual assault. And so thats got to be present.

He elaborated, however, that he thinks we need to be careful that we dont use that as an excuse to stifle the free exchange of ideas, because it is an academic institution and thats part of what students should get in an academic institutionto be exposed to different ideas, to hear new things, to have their own beliefs challenged in an appropriate way so that theres dialogue and conversation and not just simply everybody repeating the same thing. So we have to have that opportunity for free speech, knowing that that safety is there on a foundational level.

Full text of Fordhams policies regarding freedom of expression can be found on the universitys website.

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Important to preserve the essence of yoga: PM Narendra Modi – Economic Times

Posted: at 10:58 pm

COIMBATORE: Calling people to embrace the age-old practice of Yoga, Prime Minister Narendra Modi has said rejecting an idea because it is ancient could be "potentially harmful".

The Prime Minister, who recently unveiled a 112-foot statue of Adiyogi, Lord Shiva, on the occasion of Mahashivratri at the Isha foundation here, said Yoga is constantly evolving.

As a tribute to Adiyogi, he lit the sacred fire to commence the Maha Yoga Yagna across the world, under which he said,"1 million people will take an oath to teach a simple form of yoga to at least 100 people each in the coming year, and touch at least 100 million people before the next Mahashivaratri".

"Yoga is ancient yet modern, constant yet evolving, but the essence of yoga has not changed. It is important to preserve this essence," Modi said.

A brainchild of spiritual leader Jaggi Vasudev Sadhguru, the statue showcases Shiva's contribution as Adiyogi.

"It is essential that the next generations of people on this planet are seekers, not believers. As philosophies, ideology, belief systems that don't stand the test of logic and the scientific verification will naturally collapse in coming decades, you will see the longing for liberation will rise. When that longing rises, Adiyogi and the science of Yoga will become very important," Sadhguru said.

The Prime Minister also took stock of the sprawling precincts of the Isha Foundation's ashram, as he visited the 22-feet underground water body at the Suryakund that aims at the physical cleansing and balancing of the human body.

He participated in the Pancha Bhuta Aradhana by Sadhguru - a yogic process of cleansing the five elements of the human system - at the Dhyanalinga, a multi religious meditation shrine, followed by a visit to the Linga Bhairavi, a feminine shrine for physical, material and spiritual wellbeing.

The tallest bust of its kind, the height of Adiyogi's face is symbolic of the 112 possibilities he explored for human beings to reach their ultimate potential, besides scientifically representing the 112 chakras of the human system.

"For the first time in the history of humanity, Adiyogi introduced the idea that the simple laws of nature are not permanent restrictions. If one is willing to strive, one can go beyond all limitations and attain liberation, moving humanity from assumed stagnation to conscious evolution.

"But, it also has a scientific significance -- there are 112 chakras in the human system, with which you can work, to explore 112 dimensions of life. In pursuit of the divine, you don't have to look up because it is not somewhere else. Each of the 112 possibilities is a method to experience the divine within you. You just have to pick one," Sadhguru said.

The statue was designed by Sadhguru over a period of two-and-a-half years, and built over the next eight months by the foundation's in-house team, right in time for celebrating Shivratri.

Sadhguru also expressed a desire to place similar statues of Adiyogi in the other three corners of the country, "The eastern one will most likely be in Varanasi. For the north, it will be somewhere north of Delhi and for the western one, will be in Mumbai."

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