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Daily Archives: August 5, 2017
5 New Beauty Supplements That Will Help You Look and Feel Better – Vogue.com
Posted: August 5, 2017 at 6:18 am
Its 2017and while kombucha, bone broth , and medicinal mushroom tonics are currently as common as a morning latte, theres one throwback wellness staple thats making a cool comeback. A new wave of nutritional beauty supplements is taking the market by storm, targeting skin health, hair sheen, and even eye strength. And although they may rely on science-backed ingredients and high-quality extracts, they look nothing like their clinical predecessors. Instead, they arrive in sleek glossy packs that are more likely to be stocked at a discerning beauty boutiquewhere you can shop them alongside your favorite lipsticks or lash-volumizing mascarasthan the local health food store.
Everyone wants to look better faster, says New York City nutritionist Robin Barrie Kaiden, M.S., R.D. of the desire to pop a single pill that can fast-track results. And while she cautions that there is no quick fixsupplements should be part of a 360 degree approach to a healthy diet and lifestyle, and taken under the supervision of a doctorthere are research-tested ingredients that may contribute to the big picture. Here, five of our favorite supplement blends for the months ahead.
THE AGE-DEFYING SKIN FIX German molecular scientist and celebrity dermatologist Barbara Sturms Skin Food is designed specifically to combat the visible signs of skin aging, thanks to one hero ingredient. Purslane, a superfood compound developed in collaboration with doctors at the University of Miami, helps fight inflammation while activating the bodys own youth enzymes. Additional ingredients like glucosamine (which boosts hyaluronic acid production), Japanese Knotweed Root Extract (which is packed with anti-aging Resveratrol), and high-quality antioxidants round out the complex, which promotes the skins ability to maintain its best elasticity, texture and tone.
THE STRESS-BUSTING BLEND Gwyneth Paltrows buzzy line of Goop vitamins, formulated in conjunction with Clean Program founder Dr. Alejandro Junger, have cheeky names. But the ingredients in the wellness brands Why Am I So Effing Tired? formula are no joke. The mix aims to combat adrenal fatigue, increase energy levels, and diminish stress with a combination of Vitamin B, Omega 3s (derived from anchovy, sardine, and mackerel) a Viviscal nd ancient Ayurvedic herbs like bacopa, amla, and holy basil.
THE SCREEN-VISION SAVER Surfing Net-A-Porter, scheduling catch-up time with friends, and ordering dinner in a matter of minutes from your Smartphone makes for efficient multi-tasking, but it may also contribute to screen-strained vision. With the average person spending up to ten hours a day in front of a screen, opthamologists have seen a surge of complaints ranging from blurred vision to light sensitivity. In an effort to combat the damaging free radicals that lead to macular degeneration, Occugards Blutein Protection supplement combines antioxidants like lutein, which helps to filter high-energy blue light, and vitamin A to boost allover eye health. Kaiden also suggests clients turn off electronics an hour before bedtime to let the eyes rest from a day of technological stress.
THE GOOD HAIR DAY GUARANTEE The hair growth supplement Viviscal is as common backstage as lash-plumping mascara these days, thanks to legions of supermodel testimonials. Now, celebrity hairstylist Jen Atkin , whose clients include Bella Hadid and Kim Kardashian West, is launching a Hollywood-bound supplement for dry, brittle, or thinning hair. Ouais Dry Hair pack promotes shine, hydration, and prevents breakage with a mix of vitamin E, amino acids, and biotin. Arriving in a compact silver foil sheet, they're sure to fit into even the tiniest of It-Girl clutches.
THE NEW SLEEPING PILL While there are a few dietary modifications that may help you get a good nights rest , Perricone MDs Sleep Booster aims to distill sleep maximizing vitamins into a single pill. Magnesium and melatonin can promote relaxation, explains Kaiden of the supplement's key ingredients. Also in each little ampoule: Extracts of ashwagandha, an adaptogen that has shown promise in helping the body cope with anxiety.
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Bedford’s hydroelectric plant gets improvements – Lynchburg News and Advance
Posted: at 6:17 am
Over the past several years, Bedford Town Council has committed to spending millions of dollars on Bedfords hydroelectric plant, Snowden, which is located on the James River in Big Island and has been in operation since 1911.
Councilmembersagree the plant is environmentally friendly and a good source of energy for the town,and so they have committed more money to its upkeep for the next few fiscal year budgets. Prior to 2016, enough funding was allocated to the plant to keep it operational, and only small amounts were spent on capital improvements.
Once council decided to extend the life of the plant, capital spending grew to more than $1 million. Annual capital spending will stay in the $1 million range for the next few years.
To learn that we have been using this facility for 100 years to get renewable energy might surprise people, council member Bruce Johannessen said. This is really a gem that we have there.
Snowden is known as arun of riverplant, meaning it only can run when there is enough water in the river. The plant, which serves about 7,000 customers, generated about 16.8 million kilowatts in 2016.The energy generated by the plant is an amount equal to about 8 percent of the electric department's sales in fiscal year 2016.
All of the energy is clean, and it serves everyone in the towns utility service going from Big Island to about five miles south of the town of Bedford.
Its clean energy and a competitive cost supplier for energy, said John Wagner, director of the towns electric department. Those two things are important to the town.
There are numerous smallrun-of-riverhydro plants along theJames River.
For fiscal year 2018, council has budgeted$1.3 million for capital improvement projects and new equipment for the plant and $1.04 million for fiscal year 2019.
Part of those improvements included a new speed increaser that was delivered to the plant July 14. A speed increaser steps up the speed produced by the water driven in the James River.
There are two generating systems within the plant, and each has independent speed increasers. In January last year, one of the speed increasers began degrading and was unable to produce at the same capacity that it normally would, which is 2.5 megawatts.
We analyzed the system and ordered a replacement so that the unit could return to full service, Wagner said.
Theincreasercost $1 million and weighs 15 tons.
Its a low-cost energy for our customers, he said.
The costs to operate the plant are about1centper kilowatt of production. The town has contracts with other hydro resources that cost about5 centsper kilowatt.
Because much of the large equipment is located in the water, it must be maintained constantly, Wagner said.
The James River can be a nasty place to be at times, so it takes ongoing maintenance to keep the plant in running condition, he said. Currently a contractor maintains and operates the plant in conjunction with the electric department.
The contractor has one full-time senior operator and maintenancetechnicianand one part-time operator.
The electric department supplements them with skilled workers andspecializedcontractorsas needed, Wagner said. The total budget this year for the entire electric department is $22 million.
Most of the operating equipment was replaced in 1985. The key components of the plant will last another 20 to 30 years, including the speed increaser.
The town entered into a life-extension projectagreementwith Snowden.The life-extension project is part of the ongoing maintenance that will extend the useful life of the infrastructure indefinitely.
Other upcoming approved projects that are part of the towns capital improvement plan are roof and water leak repairs, upgrades to lighting and security systems, a new dump cart system that can be used to transport debris away from the plant inlet area and an upgrade of the trash rake which is used to remove debris from the turbine inlet ports.
Projects in the proposed 2019 budget include rebuilding turbines, cleaning and refurbishing a generator and drainage system and another speed increaser.The next project is to update and modernize the computer control system. Wagner said it should be online and running by the end of the year.
All of this work will be done as it fits into the budget, he said. We have to balance that against our available budget funds.
Council member Jim Vest was on the board when the plant was refurbished in 1985 and serves as the chair of the electric committee.
Its a huge investment for the town, Vest said of Snowden. When we get everything fixed, it will stabilize the cost of electricity for citizens.
We are planning on spending a lot of money in the next several years to maximize its capability and provide a clean source of energy.
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Bedford's hydroelectric plant gets improvements - Lynchburg News and Advance
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Ted Williams will be first baseball player to get ‘American Masters’ treatment – The Boston Globe
Posted: at 6:17 am
He played his last game more than five decades ago, and has been dead (or at least frozen) for 15 years, but Ted Williams is still very much alive in the minds of baseball fans.
Producers of the American Masters series announced that the Splendid Splinter will be the subject of an upcoming documentary the first baseball player to be so profiled.
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A major American cultural figure whose story has never been properly told, Ted Williams is a fitting first, Michael Kantor, American Masters series executive producer, said in a statement. This film will reveal the man behind the legendary .406 batting average: complex, misunderstood and profoundly human.
Its not exactly true that Williamss story has never been properly told. In recent years, the Hall of Famer was the subject of not one but two excellent biographies, both written by former reporters at the Boston Globe: Ted Williams: The Biography of an American Hero by Leigh Montville and Ben Bradlee Jr.s The Kid: The Immortal Life of Ted Williams.
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The American Masters doc, slated to premiere next summer on PBS in honor of Williamss centennial, is being co-produced with Major League Baseball and David Ortizs Big Papi Productions, among others. The film will look at Williamss incredible baseball career and his service as a decorated combat pilot in the Korean War. Its not clear if the doc will discuss at all the bizarre and troubling disposition of Williams after he died, when his head was removed and frozen at the Arizona-based Alcor Life Extension Foundation, which deep-freezes bodies (or just heads) in the hope that scientific advances will allow them to be revived in the future.
In addition to Williams, the new season of American Masters will feature documentaries about filmmaker Richard Linklater, artist Tyrus Wong, writer Edgar Allan Poe, and entertainer Bob Hope.
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The Fine Print on Medication Expiration Dates – Sioux City Journal
Posted: at 6:17 am
FRIDAY, Aug. 4, 2017 (HealthDay News) -- The expiration dates on over-the-counter and prescription medications seem pretty black and white, but there's some question about whether drugs last even longer.
Expiration dates typically range from 12 to 60 months after production. But manufacturers aren't required to determine how long they'll remain potent after that, enabling them to set their own expiration dates.
Testing reported in JAMA Internal Medicine showed that eight medications with 15 different active ingredients were still potent decades beyond their expiration dates.
The U.S. government's own Shelf Life Extension Program extends the dates on some drugs in federal stockpiles to save the military from the cost of replacing them. Its own study found that 90 percent of more than 100 drugs were perfectly good even 15 years after expiration.
But what about the meds in your home? A lot depends on how carefully you store them -- you probably don't do as good a job as the U.S. Army. That's why the U.S. Food and Drug Administration recommends never taking drugs beyond their expiration date -- it's just too risky. In particular, nitroglycerin, insulin and liquid antibiotics shouldn't be used after their expiration dates.
To safeguard all medications, protect them from heat, light and humidity by keeping them in a cool, dry, dark place. A steamy bathroom isn't a good environment.
Know, too, that some drugs can lose their potency more quickly than others, including aspirin. If you take aspirin for heart health, be sure to replace it as needed.
Read the U.S. Food and Drug Administration's position on the hazards of taking expired drugs, as well as safe ways to dispose of them.
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The Fine Print on Medication Expiration Dates - Sioux City Journal
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Smiles, laughter and life lessons at the fair | MSU Extension – Michigan State University Extension
Posted: at 6:17 am
Smiles, laughter and life lessons at the fair Appreciate the adults and the roles they fill at fair.
Posted on August 4, 2017 by Jennifer Weichel, Michigan State University Extension
MSU Extension educator Katie Ockert and youth exhibitor Kassidy at the Berrien County Fair. Photo by Sheila Smith, MSU Extension.
Fair is an event that requires effort on the part of countless parents, volunteers and leaders, but yields great rewards for those who can appreciate the smiles, laughter and life lessons it offers our young people. In The magic of fair, I talked about what I see when I observe youth exhibitors at fairs and the magic I feel the moment I step onto a fairgrounds. The magic is real because it is my heart and soul as a 4-H alumni, parent, volunteer and staff member. I invite you to take a moment and consider the following when you visit the next fair and look into the eyes of the adults who surround the exhibitors.
Adults serve in some important roles and these are just a few of them.
Supporter. Parents, volunteers and leaders support the exhibitors and their families as they compete and participate. They offer kind, encouraging words to help them understand defeat and be humble when they win. They celebrate success and handle defeat, processing what may be done differently to improve for the future when the time is right, not necessarily right away. Support comes is a variety of forms: a smile, an encouraging word or a handshake.
Cheerleader. They are in the stands and on the sidelines cheering on youth exhibitors, anxiously awaiting the results and watching the judge to see how they place the class. Adults need to be careful to not interfere with officials or distract members while they are competing. Coaching takes place before the event, not during the event. The best coaches know when to step back and let their players perform; exhibitors are performing their skills learned when they are in the ring or presenting their project to the judge. Give them the time to shine.
Teacher. Sometimes the teacher presents the most important lessons when they are silent and allow the student to learn for themselves. At other times, the teacher helps the student process all that has happened by listening, reflecting back and conversing with the young person. A good teacher knows to adjust their techniques to fit the situation and the student. Adjust as necessary.
Role model. Be the example. It sounds simple but it is really hard, especially when you are tired, hot, on day five of the fair, and did I mention stressed out? Be the person you were meant to bethe kids are watching! We need you to be the role model who inspires them to be their best. When you are not up to the task, take a timeout and defer to another adult. You expect the best from your members, so expect the best from yourself.
Helper. Hold the halter, carry supplies, walk alongside and fetch more projects from the car so the child can stand in line to be interviewed and judged. This is the week when some of us need to step aside and assist because it is their project, not ours. We ask what they need help with because we know they have it under control; we are simply there to be the driver and helper. The bonus is we get to take it all in and smile as we look on. This is your que to beam like a proud parent or volunteer.
You may see parents, family members, leaders and volunteers in these roles and more. You may see them display signs of being nervous, proud, overwhelmed or filled with a lot of emotion; after all, this is their childs moment in the spotlight, regardless if they are holding a rabbit, pillowcase, cake or the halter of a steer. They are waiting to hear the name of their child, the ribbon and the look on their face. They know how hard their child has worked on that project and hope the stars will align for them in this moment when the judge decides what their rating will be.
The adults are trying to find the balance between helping too much and guiding just enough. This is a delicate balance and they might not get it right the first time, so be kind and lead by example if you have the chance. Support the new fair families in your club and appreciate those who are carrying on the tradition of mentoring the next generation.
Being an adult with an exhibitor at the fair means you experience endless joy as your exhibitors exchange smiles, laughter and tools for the project area. However, you may also find that tears come easy because you are sleep deprived after the camper or tent experience, eating elephant ears, corn dogs and cotton candy, and swelling with a pride that comes from knowing you taught your members valuable skills in the last year. Skills that helped them achieve the goals they set at the beginning of the year.
Buyers who show their support for our exhibitors send an important message to our young people and help them develop skills as sellers. Learning how to approach a potential buyer, market your product and thank a buyer are important skills members learn in the process.
Superintendents, fair board members, clerks, judges and volunteers of all types help make our fairs the success they are by serving in roles that are essential to getting the projects, people, programs and shows in place. It is this teamwork and dedication that creates the magic that we enjoy as fair.
Yes, I know it is not all cotton candy and blue ribbons, but when the year is done and we step back to truly reflect, we can all admit lessons are learned. If we grow through those lessons, we look forward, set new goals and move forward.
Life is better than a box of chocolates; it is ferris wheel ride with your best friends, you just need to climb aboard. So the next time you visit a fair, think about all of the people who have made it possible and consider the lessons learned, the journeys traveled and appreciate the value for members, volunteers, leaders, parents and families.
To begin your journey in 4-H, contact yourMichigan State University Extensioncounty office and find out how you can become a 4-H member or 4-H volunteer.
This article was published by Michigan State University Extension. For more information, visit http://www.msue.msu.edu. To have a digest of information delivered straight to your email inbox, visit http://www.msue.msu.edu/newsletters. To contact an expert in your area, visit http://expert.msue.msu.edu, or call 888-MSUE4MI (888-678-3464).
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Vitamin D supplement use associated with lower risk of breast cancer – ProHealth
Posted: at 6:17 am
Reprinted with the kind permission of Life Extension.
July 24 2017.The July 2017 issue ofEnvironmental Health Perspectivespublished the finding of researchers at the National Institutes of Health of a lower risk ofbreast cancerover five years of follow-up in association with higher levels of serum vitamin D or vitamin D supplementation.
The current investigation included participants in the Sister Study, which enrolled women with no history of breast cancer who had a sister diagnosed with the disease. Serum samples from 1,611 subjects who subsequently developed breast cancer and 1,775 randomly selected participants were analyzed for 25-hydroxyvitamin D levels [25(OH)D]. Average vitamin D intake and supplement use during the year prior to enrollment were estimated from data provided by questionnaire responses.
A serum 25(OH)D level of at least 38 nanograms per milliliter (ng/mL) was associated with a 21% lower adjusted risk of developing breast cancer over follow-up in comparison with levels of 24.6 ng/mL or less. The use of a vitamin D supplement at least four times per week was associated with an 11% lower risk of the disease, which declined to a 17% lower risk among postmenopausal women.
To date, the randomized clinical trials of vitamin D supplementation have provided little evidence of benefit from supplementation, the authors remark. However, certain features, including small sample size, nonadherence, and combined treatment regimens or off-protocol supplementation made it difficult for those trials to establish causality or to identify effective dose levels. In principle, a randomized, placebo-controlled trial of vitamin D supplements alone among women who abstain from self-supplementation would be the best way to assess the effects of vitamin D on breast cancer risk.
Our results support the hypothesis that vitamin D supplementation could be effective for breast cancer prevention and may help to establish clinical benchmarks for beneficial 25(OH)D levels, they conclude.
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Mike Tomlin, Steelers Agree to Contract Extension Through 2020 – Bleacher Report
Posted: at 6:17 am
Keith Srakocic/Associated Press
The Pittsburgh Steelers announced a two-year contract extension for head coach Mike Tomlin on Friday, which will keep him with the team through at least the 2020 season.
"I am pleased to announce we have extended Mike Tomlin's contract through the 2020 season," Steelers president Art Rooney II said in a statement. "Mike continues to prove he is one of the top head coaches in the National Football League. We appreciate the leadership that Mike has provided over the last 10 seasons, and we are confident and excited to have him continue to lead our team as we focus on winning another championship."
Tomlin, 45, has been with the Steelers since 2007. He's led them to a 103-57 regular-season record and seven playoff appearances, including aSuper Bowl XLIIIchampionship.
"I truly appreciate this contract extension, and I want to thank Art Rooney II for his support as well as everyone within the organization," Tomlin said. "My first 10 years in Pittsburgh have been an amazing experience for me and my family. Im proud to call Pittsburgh home. My focus is on the upcoming season, and our goals remain the same as they always areto bring a seventh Super Bowl championship back to our city."
Tomlin is one of only three Steelers head coaches since 1969, joining Chuck Noll and Bill Cowher. If Tomlin coaches the life of the deal, he will have been in Pittsburgh 14 seasons, one short of matching Cowher's tenure. Noll spent 23 seasons roaming the Steelers sidelines.
Pittsburgh enters 2017 as the prohibitive favorite for a sixth NFC North championship under Tomlin and perhaps the best bet to unseat the New England Patriots.OddsSharklists the Steelers at 12-1 to win the Super Bowl, tied with the Oakland Raiders for the second-best figure in the AFC.
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Mike Tomlin, Steelers Agree to Contract Extension Through 2020 - Bleacher Report
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Oscars: Switzerland Selects ‘The Divine Order’ For Foreign … – Deadline
Posted: at 6:17 am
Getting its bid in early, Switzerland has selected The Divine Order to represent it in the Foreign Language Oscar race. Directed by Petra Volpe, the period drama about the fight for equal rights for women has sold more than 300,000 tickets at home. In April, it played the Tribeca Film Festival, where it won the Audience Narrative Award, the Nora Ephron Prize for Volpe, and Best Actress in an International Narrative Feature Film for Marie Leuenberger.
By accounts, Switzerland is the first to declare for Foreign Language this year. The majority of selections will roll in during early fall. Last year, Switzerland put forth Claude Barras My Life As A Zucchini which made the Foreign shortlist and then scored a Best Animated Film nomination.
The Divine Order centers on Nora, a young housewife and mother living in a quaint village with her husband and their two sons. The Swiss countryside is untouched by the major social upheavals the movement of 1968 has brought about. Noras life is not affected either; she is a quiet person who is liked by everybody until she starts to publicly fight for womens suffrage, which the men are due to vote on in a ballot on February 7, 1971.
At the Swiss Film Awards it won three prizes including Best Screenplay and Best Actress. Kino Lorber and Zeitgeist co-acquired it in the U.S. where it has an October release set.
Other international sales include Italy (Merlino Distribuzione), Germany/Austria (Alamode Film), China (DD Dream), Canada (Films We Like), Benelux (September Film), France (Version Originale), Spain (Surtsey Films), Former Yugoslavia (Discovery Film), Poland (Bomba Film) and Denmark (Filmbazar).
The film is produced by Reto Schaerli and Lukas Hobi for Zodiac Pictures, co-produced by Swiss Radio and Television and Teleclub with support from the Swiss Federal Office of Culture, Zurich Film Foundation, Canton of Aargau, Lucerne and Appenzell Ausserrhoden, Suissimage and Migros Kulturprozent. Trust Nordisk is handling international sales.
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Oscars: Switzerland Selects 'The Divine Order' For Foreign ... - Deadline
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Automation and the Voters – National Review
Posted: at 6:15 am
Too simplistic? Quite possibly, nevertheless the conclusions from some new research out of Oxford arefood for thought (my emphasis added):
A new research paper from the Oxford Martin Programme on Technology and Employment provides the first evidence that automation played a major role in voters concerns in the 2016 US Presidential Election.
The paper, Political Machinery: Automation Anxiety and the 2016 U.S. Presidential Election, authored by Dr Carl Benedikt Frey, Dr Thor Berger and Dr Chinchih Chen, all of the Oxford Martin Programme on Technology and Employment, looked at whether groups in the labour market that have lost out to automation were more likely to opt for radical political change. Pitching automation against a host of alternative explanations including workers exposure to globalization, immigration and manufacturing decline the research shows that electoral districts with a greater exposure to automation were substantially more likely to support Donald Trump in the 2016 Presidential Election.
The authors found that a 5 percentage points increase in the share of jobs in which workers have lost to automation in the past is associated with an increase in the share voting for Donald Trump in 2016 by roughly 10 percentage points.
Dr Frey, Oxford Martin Citi Fellow and Co-Director of the Oxford Martin Programme on Technology and Employment, said the data provided the first hard evidence of the impact of automation on political outcomes.
Our study suggests that automation has been the real cause of voters concern, he said. The prime victims of recent technological change want anything but the status quo. The populist rebellion in America, Europe, and elsewhere, has many causes, but workers losing out to technology is seemingly the main reason.
Its hardly the first time that I have asked this question, but what will be the political consequences as the process of technologically-driven job destruction moves further and further up the food chain, shattering the expectations of those who never thought they would be on the wrong side of creative destruction?
Speaking of which, theres this from The New Republic (again, my emphasis added):
The waning of the yuppies particular brand of ostentatious upward mobility, and the rise of its aesthetically scruffier hipster cousins, demonstrate the ongoing erosion of what Barbara and John Ehrenreich have called the professional-managerial class. The Ehrenreichs coined the term in 1977 to refer to the constellation of college-educated, white-collar, and creative workers (doctors, lawyers, journalists, artists, academics, and so forth) that hovered somewhere between the ruling class and the traditional working class. More than 30 years later, in their 2013 essay Death of a Yuppie Dream, the Ehrenreichs reported that the once-ascendant PMC was on its last legs, fractured by decades of technological advances, job outsourcing, and attacks on labor. Increasingly, its members have either peeled off to join a tier of exorbitantly compensated CEOs and supermanagers or suffered the collapse of their chosen professions, from the decline of newspaper journalism to the elimination of tenured academic jobs.
In this bleak new landscape, strivers havent disappearedthey have simply reoriented themselves around a new set of values that bolster their class position in less noticeable ways.
And they will probably continue to do, but whether they do so in a way that fits into Americas traditional free market(ish) model is an entirely different matter.
But its only 2017: Much of the article merely discusses changes in consumer choice:
This new elite is typified by the brownstone-dweller traipsing through Whole Foods with a yoga mat peeping from the top of her NPR tote.
But, it wont stop there, particularly as squeezed salaries and eroded job securitymake that trip to Whole Foods ever more daunting.
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An Ode to Automation – www.waterstechnology.com
Posted: at 6:15 am
Automation is widely discussed in the financial services sector, but it isnt exactly considered sexy anymore. Emilia says it is still the technology that has changed the industry the most.
Automation is one of those subjects people love to talk about. It doesnt elicit confused faces or cautious questions, because people generally already know what it is. Yet, it still has the greatest potential to change the financial services industry, even more than it already has. Firms may have elements of automation deployed throughout their technology stack, but there is still so much room forevolution.
A report from FIS titled The Hunt for Growth, published in June, which surveyed 1,000 buy-side and sell-side firms, shows that there is strong demand for further trade automation, better data management and focus on digitization. The findings note that 59 percent of surveyed buy-side firms anticipate highly automated trade execution in the next three years, while 53 percent of sell-side firms are planning to meet that demand. This automation is not confined to transactions but the whole trade life-cycle, including middle- and back-officeprocessing.
John Avery, director, client and industry engagement, derivatives utility at FIS, says much of this demand is around regulatory compliance and the need to cut costs. The biggest challenges firms are facing are around regulation, the global political climate and of course cost-cutting which is still in place for many in the industry, Avery says. But we see that being committed to technology, those who are best prepared to meet those challenges with technology can continue to do well. He adds that demand for automation, to reduce manual input so employees can focus on more value-added tasks, reinforces thatmessage.
Its not just down to a desire to change, of course. Regulatory reform is encouraging many firms to look at market segments in different ways, and at using resources more intelligently as a result, on a firm-wide basis rather than just in response to specific issues. Part of this is through investment in technology to further cut costs. What is interesting is that there are some firms that want to take advantage of regulatory change, Avery says. They will either de-emphasize or enter certain markets, but as long as theyre invested in technology they are confident they can leverage these changes and even free capital to invest in stronginnovations.
The FIS report shows how important automation still is for financial services. How fast and widespread automation within a company will be, however, greatly depends on their innovation strategy, and while more than half of sell-side and buy-side firms believe in the importance of automation, there are still barriers that prevent them from implementing thesesystems.
In the same way, automation is the driving force behind so many of todays much-hyped technologies. What is artificial intelligence and machine learning, but a way to automate data processing and analysis? Isnt blockchain just a way of automating all the back and forth that counterparties have to do for certaintransactions?
Automation is so widely accepted in the financial services industry, but when phrased in certain ways, can inspire fear that robots will replace people. The same people who express that fear also complain that much of the grunt work in finance is manual. If that pressure is relieved and the skilled people in all areas of the financial services industry are freed up to focus on their core work, who knows where the industry willgo?
Inspiration
This ode to automation was inspired by podcast I heard a few weeks ago, focusing on the history of the humble spreadsheet. Microsoft Excel, todays most widely-used spreadsheet program, was conceived as a means to automate and replace the manually intensive task of writing down numbers on a sheet of paper. This also shows the ephemeral nature of automation. We went from celebrating the computerized spreadsheet to figuring out ways to phase it out completely, in a few shortyears.
The definition of automation is ever-changing, evolving alongside the technology and processes it augments. In the future, its likely that todays brave new frontier of automation might seem as quaint as Excel is starting to seem today. Perhaps then, there will be odes to AI appearing in the pages of this magazine by columnists who look at what were covering today with something akin tonostalgia.
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