Daily Archives: May 14, 2021

We’ve Had Great Success Extending Life. What About Ending It? – The New Yorker

Posted: May 14, 2021 at 6:39 am

Throughout most of the seventeenth century, residents of London could buy, from street hawkers who fought one another for sales territory, a peculiar sort of newspaper. It cost a penny, sold about five or six thousand copies a week, and consisted of a single page. On one side, readers would learn how many of their neighbors had died the previous week, in each parish. On the other, readers would learn what was believed to have killed them.

Jaundice was common, as was Apoplex, an old word for a stroke, and Dropsie, which meant swelling. Other entries seemed to answer the question How did he die? with descriptionsDead in the Streets or Stilborn or Suddenlyinstead of actual causes. The deaths were usually assessed and recorded by pairs of older women, who were employed by parishes to go to the local church whenever its bell tolled a death. During one February week in 1664, these searchers, as they were known, recorded three hundred and ninety-three burials across the city. Death causes and counts ranged from Aged (thirty-two victims) and Consumption (sixty-five) to Scalded in a Brewers Mash (one).

For the same reasons that todays newspapers report coronavirus case numbers on their front pages, the London papers, known as Bills of Mortality, became particularly popular when disease swept through the city. During the 1665 plague, Samuel Pepys wrote in his diary about feeling saddened or cheered by the latest numbers from the Bills, while a contemporary named John Bell noted that the Bills allowed people to know the places which are therewith infected, to the end such places may be shunned and avoided. But most of the time, according to the London merchant John Graunt, the Bills were little more than matters of curiosity, especially if there were deaths that were rare, and extraordinary in the week current. He didnt consider this to be odd or unseemly. Death, after all, was the most basic fact of life.

Eventually, though, Graunt began to wonder if the Bills could be put to other, and greater uses. He painstakingly collected and organized decades of the death records, creating long tables of numbers. These first known tabulations of population-level health data are now widely recognized as the birth of epidemiology. Graunt pored over them. What types of death were most common? Which groups did they afflict? Why did some causes spike at certain times, while others stayed fairly constant? And, most of all, what could a lot of separate, individual deaths, taken together, tell him about the society in which they occurred? Although Graunt wanted, as he put it in a treatise, to understand the fitness of the Country for long Life, he believed that it was in its deaths that he would find answers.

In Extra Life: A Short History of Living Longer (Riverhead), Steven Johnson credits John Graunt with creating historys first life tableusing death data to predict how many years of remaining life a given person could expect. (One Dutch contemporary, a proto-actuary, took Graunts tables a bit too literally, writing confidently to his brother, You will live to until about the age of 56 and a half. And I until 55.) In fact, Graunts estimates were more of a guess than a calculation: when he wrote his treatise, in the sixteen-sixties, the Bills of Mortality didnt record peoples age at death, and they wouldnt for another half century. Yet his guesses about survival rates for different age groups turned out to be remarkably accurate in describing not just London at the time but humanity as a whole. For most of our long history as a species, our average life expectancy was capped at about thirty-five years.

Johnson calls this phenomenon the long ceiling. Analysis of ancient burial sites, of modern people living in hunter-gatherer societies, and of pre-industrial city dwellers all tell a similar story, Johnson writes: Human beings had spent ten thousand years inventing agriculture, gunpowder, double-entry accounting, perspective in painting, but these undeniable advances in collective human knowledge had failed to move the needle in one critical area.

That began to change in the eighteenth and nineteenth centuries. In what the economist Angus Deaton has named the great escape, average life expectancies broke the ceiling: what had been a very long, flat line finally rose, at first gradually and then dramatically. Between the Spanish flu of 1918 and the coronavirus pandemic of 2020, global life expectancy doubled. These developments, Johnson argues, should be printed in newspaper headlines and hawked on street corners like the old Bills of Mortality. Extra, extra: The average human has received thousands and thousands of extra days in which to live.

Johnson tries to account for those days. Which scientific or civilizational advancements should we thank for them? He groups innovations by those which have saved millions of lives (this list begins with the AIDS cocktail, anesthesia, and angioplasty), hundreds of millions of lives (here the roster goes from antibiotics to pasteurization), and, finally, billions of lives, a small but illustrious pantheon of three: artificial fertilizer, hygienic plumbing, and vaccines.

Johnson gives a hasty tour of the stories behind a few of these life-giving innovations. He explains how centuries-old practices in China, India, and the Middle East eventually inspired a vogue for smallpox variolation among the British aristocracy in the eighteenth centuryeven then, you needed an influencer to start a trend. And he returns to the same well, or, rather, pump handle, that featured in his 2006 book, The Ghost Map, about the disease detectives who investigated a cholera outbreak in the early days of germ theory. Yet he cautions that its shortsighted to think of these advancements in terms of a few brilliant geniuses having eureka moments.

Instead, the innovations that have saved the most lives are the product of piecemeal improvements, built on networks of support and inspiration, and spread by social movements. Most were not blockbuster therapies or expensive medicines but unsexy, low-tech ideas, like water chlorination or better techniques for treating dehydration. Almost none, he points out, came from profit-seeking companies. And many were just advancements in basic bureaucracythe creation of public institutions that could systematically track health data, require that drugs be tested and regulated, or enforce simple safety measures.

The most effective changes have to do with saving the lives of children. When Graunt analyzed London deaths, he estimated that, for every hundred children conceived, about 36 of them die before they be six years old. Twenty-four more died before reaching the age of sixteen, fifteen more before turning twenty-six, and so on, the rate of attrition falling slightly with each decade until perhaps but one surviveth 76. For much of human history, our early years were so stalked by disease and infection and diarrhea that between a third and a half of us never escaped our own perilous childhoods. Especially in the long years before smallpox was eradicated, Johnson writes, being a child was to forever be on the brink of death.

And the peril was universal. Before the advent of proper hygiene and effective medicine, the children of the lite died just as often and just as early as those of the poor. The rich may even have died more often, since they could pay for the treatments of the time, which generally did them more harm than good. (Readers are given grim descriptions of the illnesses of George III and his foe George Washington, both of whom were made sicker by the medical care they received, and reminded that George III became king only because the Stuart line had ended with Queen Anne, a half century earlier. Despite her wealth and power, and despite eighteen pregnancies, only one of her children survived past the age of twoand he died at age eleven.) Extra life was one thing money could not buy.

But that equality of loss would soon change. Deaton showed that the great escape was accompanied by another trend, which is now known as the great divide. In the past couple of centuries, as changing conditions increased life expectancies within wealthy nations, average life expectancies in poorer onesthe ones bearing the brunt of imperialism, resource extraction, and disease imposed by the wealthygot shorter. Eventually, average lives lengthened around the world, narrowing the gap, but they still lengthened substantially more for some people, in some places, than for others. Of all the forms of inequality, Martin Luther King, Jr., said in 1966, by which time the divide was entrenched, injustice in health is the most shocking and the most inhuman. Even in modern American cities, people born into poor neighborhoods can expect to live as many as thirty years fewer than people who are born in affluent ones across town. And that was before the covid-19 pandemic further widened our existing gaps.

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Step ‘Into The Darkness’ with the Double-Barrel Shotgun Overview – The Nerd Stash

Posted: at 6:39 am

Back in February, the VR horror shooter Into The Darkness was first announced. Since then, eager fans have been waiting patiently for further updates. In the first of several videos to come out, the developers are releasing overview videos to share the progress with Into The Darkness.

The video series will showcase various aspects of the game to come. These can range from experimenting with the physics mechanics, combat demonstrations, and the dark corners of the world.

The first video presents the powerful double-barrel shotgun. Apparently a frequent request from hungry fans, the video displays the weapon in all of its glorious usefulness. It can be utilized as a blunt weapon to knock robotic foes down, blast deadly shots from a certain critical distance, and be held as a defensive item to fend off against aggressive adversaries. The anticipation elevates for the double-barrel shotty with the rockin music to back up the action scenes.

Into The Darkness blasts the player into the near future. Humanity is attempting immortality; in other words, recent science experiments permit the process of transferring human consciousness onto machines. As Agent Frank, youre on a mission to investigate a facility that specializes in the said process, dubbed transhumanism. As fate would have it, trouble begins to stir beyond the shadows.

With a physics-based system, Into The Darkness allows the player to mess around with the games sandbox. For one thing, you can climb and hold onto a railing with one hand while the other hand can gun down an enemy. Another example is simply breaking the glass to traverse from one window to another.

Some of its VR horror shooter gameplay is similar to Stress Level Zeros experimental VR experience, BONEWORKS. Into The Darkness seems to be more fast-paced and chaotic than the previously mentioned title (think BONEWORKS with a dash, slash, and DOOM Eternal greatest action moments). Be sure to keep a lookout for the other videos to eventually release by going to the publishers (GameBoom VR) YouTube channel here.

Are you looking forward to the next overview videos from the developers? Be sure to leave a comment down below on what special items you would like to see from future videos on Into The Darkness.

C. Anthony Rivera is a content writer from the city of Chicago. His articles and reviews have been published on Gamemite, GamingBolt, and now on The Nerd Stash. And yes, deep dish pizza is the best.

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University Pushes Back on Excessive Fee Class Claims – National Association of Plan Advisors

Posted: at 6:38 am

The fiduciary defendants in a 403(b) university excessive fee suit say the plaintiffs have not only failed to make their casebut that theyve taken actions in their own account(s) that undermine their arguments.

The suit (Latasha Davis et al. v. Washington University in St. Louis et al.) was originallyfiled in June 2017by Latasha Davis and Jennifer Elliott on behalf of the plans more than 24,000 participants and beneficiaries. In October 2018,those claims were dismissedby Judge Ronnie L. White of the U.S. District Court for the Eastern District of Missouri, basically holding that the plaintiffs failed to state a claim. However, nearly a year ago,noting that, at this point, the complaint only needed to give the district court enough to infer from what is alleged that the process was flawed, the Eighth Circuit Court of Appeals breathed new life into some of the claims brought against the fiduciaries of St. Louis-based Washington Universitys $3.8 billion 403(b) plan.

And now, the defendants in that case have challenged the ability of the plaintiffs to adequately represent the interests of the plans 27,000 current and former workers.

As a reminder, the suit claimed that the defendants violated ERISA by:

The Response(s)

In response, the Washington U. defendants note (Davis et al. v. Washington University in St. Louis et al., case number 4:17-cv-01641, in the U.S. District Court for the Eastern District of Missouri) that the plaintiffs lump their disparate theories together and ask the Court to certify a class that indiscriminately includes everyone who ever participated in the Plan since April 28, 2011. Now, while that type of claim isnt all that unique, the defendants say its based on a flawed premise: that no matter what claimor injury they have personally, they can fairly and adequately represent the 27,000 current (andmany more former) Plan participants for any alleged fiduciary breach, at any time, simply becausethey sue on behalf of the Plan under ERISA 502(a)

On that point, however, they say that the plaintiffs scarcely even try, citing almost no actual evidence, relying instead on generic conclusions coupled with allegations in their SAC, referencing the plaintiffs Second Amended Complaint (SAC). And in so doing, the defendants claim that the plaintiffs offer no insight into their own circumstances, alleged injury, interests, or any other facts that would allow the Court to assess their ability to protect the rights of absent class members, as Rule 23[i]requires.

The defendants start by noting that the burden of proof on Rule 23 is on the plaintiffsand they claim the plaintiffs here have not met that burden, and then state that they have failed to demonstrate that their claims and interests align sufficiently with those of absent class members, who invested in different funds and paid different fees at different times. Specifically, they claim that no factual basis has been provided for finding they have a sufficient stake in claims related to the 100-plus investments they never held or fees they never paid. In fact, no Plaintiff invested in any Vanguard fund before June 2016, when Vanguard was removed as a Plan recordkeepermeaning no named Plaintiff paid any fee to Vanguard over that critical period. Speaking of differences, the defendants say the plaintiffs failed to meet the criteria because they are subject to unique, individualized Defenses, notably that that they had actual knowledge of an alleged breach more than three years before the case was filed (and thus outside the statute of limitations for such claims).

And finally, they state that, even if the Court certifies a class (which it should not, they comment), any such class should be limited to the funds in which the named Plaintiffs invested or their challenges to TIAAs recordkeeping fees, the only such fees any proposed class representative ever paid.

Questionable Assertions?

As for the essence of the case itself, the defendants here also challenge other assertions made: the Plans investment line-up has not remained staticthat many key factual predicates to Plaintiffs claims have changed materially over the past decade, which their Motion obscures by relying almost entirely[ii]on the SACs allegations.

That while the plaintiffs alleged excessive fees resulted from the plans retention of two recordkeepers (TIAA and Vanguard)but that that couldnt have been the case after 2016 when they consolidated to TIAA, nor to the many who joined over the past five years, who could never have paid Vanguard a recordkeeping fee. In fact, aside from the difference in services between the two, the defendants claimed that none of the Plaintiffs invested in any Vanguard fund before June 2016, meaning they never paid Vanguard any recordkeeping or investment fee, leaving absent class members who did pay such fees without any representative possessing such a claim.

As for the dizzying and confusing array of investment optionswell, while that may have been true at one point, the defendants say that in May 2018 the plan not only streamlined its menu to around 30 options, but broadened it to other fund managers. Plaintiffs proposed class thus includesmany participants who never experienced the confusing menu on which Plaintiffs claims rely, they write.

Class Claims

There were also allegations that most Vanguard options offered were retail investor class versions, which had higher fees than the institutional class productsthough they write that the plaintiffs concede the Plan always offered the lowest-cost version of all TIAA funds. However, and to their point about representation of the class, they note that no participant who invested solely in TIAA options even has a share-class claimand that includes all three Plaintiffs for most of the proposed class period... And if that wasnt enough, the defendants state that discovery has confirmed that the Plan repeatedly moved to lower-cost share classes of Vanguard funds at different times over the class period.

As for allegations about revenue sharing, the defendants state that discovery confirms that they did, in fact, cap the amount of revenue sharing payments made to recordkeepers, and that, beyond that, the Plans fee structure changed materially since 2011.

But after four years of litigation and well over 100,000 pages of documents, the defendants claim that the certification attempt is based almost entirely on the SACs allegations, and that they do not support several assertions with any citation, to the SAC or otherwise. The defendants write that the deficiencies in their arguments obscure critical differences in the claims, circumstances, and interests of the 30,000-plus individuals Plaintiffs seek to represent.

More specifically, the defendants observe that the plaintiffs collectively invested in only eight of the roughly 120 options available in the plan, that all eight were offered by TIAA (none were managed by Vanguard), and that Plaintiffs thus paid nothing to Vanguard over this period (for recordkeeping, investment management, higher-cost share-classes, or anything else)meaning the many absent class members who did invest through Vanguard lack any representative with similar claims.

After Math

Beyond that, the defendants outlined a series of behaviors by the named plaintiffs that seemed at odds with their allegations. For example, they state that long after filing this lawsuit in June 2017, Ms. Davis and Ms. Elliott each chose to continue investing in some of the same funds they claim are too expensive and should never have been offered (the CREF Stock Account). Indeed, they note that despite alleging this actively-managed variable annuity charged 1,800% more in fees than the passively-managed Vanguard Institutional Index mutual fund, Ms. Davis not only held her existing assets in the CREF Stock Account, she increased them until she left the University in 2019. As of that werent enough, they continue that Ms. Davis indisputably knew she could choose a lower-fee option if that was her preference, because she did just that, also investing in the same Vanguard Institutional Index Fund her SAC suggests as a lower-cost alternative.

Ms. Elliotts decisions are even more instructive, they continue. While the response notes that she never invested in the CREF Stock Account or TIAA Real Estate Account before filing her complaintin 2018, after filing suit, Ms. Elliott moved money into, and continues to hold, both the CREF Stock Account and TIAA Real Estate Account, and she is the only Plaintiff who ever invested in the TIAA Real Estate Account.

These individuals cannot disclaim knowledge of the supposed problems with these fundsafter June 2017, as they had signed onto a class action claiming those very funds were so badlyflawed and expensive that no reasonable fiduciary would offer them, the response explains. Any loss they incurred by investing in these funds thus resulted from their own informed decision-making, not action by Defendants. Indeed, this also calls into serious question the extent to which Defendants alleged fiduciary breaches as to these funds were the cause of losses to these Plaintiffs before the lawsuit, considering they selected them even after indisputably knowing of the supposed deficiencies.

Plaintiffs (as opposed to their attorneys[iii]), the response states, have no personal stake in such claims,meaning they lack sufficient incentive to vigorously litigate them, maximize potential recovery, orotherwise protect the rights of absent class members.

What This Means

Weve noted before that in litigation there are always (at least) two sides to every story, and that however factual those assertions may turn out to be, the initial lawsuit in any action is only one side, and one generally crafted toward a particular result.

This filing is, of course, the other side of those arguments, andas advocacy often requiresmay well be just as slanted toward the perspective of the parties defending the suit. That said, the arguments made are instructive, both as to the legal standards, the arguments in support of their application to the case, and their probative value in similar situations that you may encounter in your practice(s).

[i]Now what, you may say, is Rule 23? As it turns out, itsets forththe prerequisite standards for plaintiffs to quality to represent the interests of a broader class of similarly impacted individuals. At a high level, the plaintiffs have to establish that: (1) the class is so numerous that joinder of all members is impracticable; (2) there are questions of law or fact common to the class; (3) the claims or defenses of the representative parties are typical of the claims or defenses of the class; and (4) the representative parties will fairly and adequately protect the interests of the class.

[ii]In fairness, that actions have been taken to mitigate certain alleged wrongs wouldnt preclude an action for the period(s) of time in which they were a reality.

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Lendistry Adds Four Top Executive Trailblazers to Its Leadership Team – KPVI News 6

Posted: at 6:38 am

LOS ANGELES, May 13, 2021 /PRNewswire/ --Lendistry, a minority-led and technology-enabled small business and commercial real estate lender headquartered in a Los Angeles Opportunity Zone, announced today that its executive team is four members stronger. Lendistry prides itself on a culture of mission-fueled overachievement, and each one of these additions to its leadership team will elevate the fintech lender's ability to serve small businesses in underserved communities across the country.

Lendistry CEO, Everett K. Sands, says, "Lendistry is pleased to add these outstanding individuals to our team of rock stars!"

Heading up operations as Lendistry's new Chief Operations Officer, Scharrell Jackson has over 20 years of experience leading teams to outperform all expectations at firms including Squar Milner and more recently, BPM LLP. Jackson has a well-honed, holistic approach to operations that results in sustainable business practices, scalability, and financial profitability.

Jackson is also Founder and CEO of Leadership in Heels Women Speaker Series, through which she motivates, educates and equips women to see themselves as unapologetic leaders.

Jason Haasehas come on board as Lendistry's new Chief Financial Officer. Haase brings with him expertise in technology and financial services that spans from startups to Fortune 500 companies, with a focus on financial planning and analysis, strategic planning, and team building.

With a dynamic history of roles from Co-Founder, to CFO, to Managing Partner, Haase comes to Lendistry after serving as CFO at ePreop, now part of Provation, where he oversaw all administrative activities and supported considerable company growth.

Before joining Lendistry as its Chief Marketing Officer, Joseph Kerwin spent 18 years in B2B marketing leadership roles at Wells Fargo, in addition to overseeing all aspects of marketing at tech and fintech startups.

An in-depth knowledge of business operations and management strategies gives Kerwin a nuanced approach to communications and brand identity. Kerwin's creative approach to brand evolution in a high-performing organization is the perfect fit for Lendistry and its nonprofit partner, The Center by Lendistry.

As Lendistry's new Chief Technology Officer, Karthik Ramaswamy has over 18 years of experience driving the development of high-performance software products. Most recently, Ramaswamy served as VP of Framework Engineering and Digital Banking at American Express, then Chief Architect of Digital Platforms at JP Morgan, where he oversaw the architecture of API and data frameworks at the firm's Central Investment Bank.

As the only fintech Community Development Financial Institution, Lendistry trusts the growth and evolution of its proprietary technology to Ramaswamy's self-proclaimed maniacal attention to detail.

This vanguard of accomplished leaders is taking the helm on the Lendistry team in a time of great momentum as Lendistry rises to the challenge of helping locally-owned businesses weather the pandemic.

About Lendistry

Lendistry (Lendistry.com) is a minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. Lendistry ranks second nationwide in SBA Community Advantage lending, providing responsible financing to small business owners and their underserved communities. Lendistry is a member of the Federal Home Loan Bank of San Francisco, and is headquartered in a Los Angeles Opportunity Zone. In 2020, Lendistry provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states and was selected by the State of California to administer the California Small Business COVID-19 Relief Grant Program, which distributed grants to small businesses that lost significant revenues during the pandemic. Lendistry and its nonprofit partner organization, The Center by Lendistry, are dedicated to providing economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities.

Media Contact:

Kate Kearns

kate.kearns@lendistry.com

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Why CMOs relied more on in-house agencies in the pandemic and what is next – AdAge.com

Posted: at 6:38 am

Tapping into a remote workforce

Checkers was able to build its in-house team to 40 from 18 staffers during the last year because many are working remotely. Chambers said video conferencing tools helped with recruiting.

Its allowed us to hire amazing talent, he said. When we look at being able to hire different people, in Baltimore or Phoenix, I can hire and not worry about whether people are willing to move.

The team at Columbia Threadneedle Investments, a asset management company,was virtual throughout the pandemic and it created more confidence in remote work, according to Marc Williams, director of digital content strategy.

Even if you hadnt worked that way in the past you had to adapt pretty quickly for me, he said. Personally, I wasnt that big of a fan of working remotely but now its become second nature.

At spice marketer McCormick & Co., the internal creative and digital team produces 80% of the food brands marketing content, including digital shelf graphics, social media messaging, recipe videos and long-form storytelling on YouTube. Alia Kemet, VP of creative and digital marketing at McCormick, said that hiring people with a positive attitude and willingness to deploy multiple skills is crucial. One of the brands producers recently performed double-duty as a TikTok personality, for example, after McCormick had noticed that its TikTok content was not working and that a more human touch was needed.

TikTok content is not the same as Instagram content or Facebook content, said Kemet. The importance of authenticity and being scrappy and feeling like its from a person and not from a brand is critical. McCormick has had similar success being nimble on social media by creating ASMR content internally to meet current trends at a faster pace than it would have by outsourcing such content to an agency, Kemet said.

For Stanford Health Care, the ability of staffers to play multiple roles helped with moral, according to Corey Dill, director of marketing operations.

The lines of demarcation between roles and responsibilities disintegrated, in a good way, he said, noting that many pitched. It allowed us to leverage more people on the team and I dont think anything gave people more morale than feeling like they were helping.

Iovate Health Sciences, which sells food brands such as Hydroxycut and Muscle Tech, handles its media buying and production internally. CMO Jarrod Jordan said a key for being successful with taking media in-house is not relying on customized products. Jordan advised that brands looking to build their tech stacks internally buy off-the-shelf technologies and limit the need to continually update any customized products. The less customization a brand has, the less risk, Jordan said.

Ive seen organizations that built tech stacks with a lot of customization but as time goes by as the different types of tools evolve and they do the next release, you may find that you have an entire team thats spending weeks every month or every quarter updating their code in order to match whats changed and that becomes expensive, he said, advising brands to try to use as much as you can with off-the-shelf technologies.

Will the in-housing trend outlive the pandemic?Andrea Ruskin, in-house agency and creative marketing consultant at Blum Consulting Partners, suggested it will, sayingthe ability of the groups to create content at rapid speed built confidence and trust in the in-house model.

Marketers needed to have a certain level of trust and confidence in their in-house teams to be able to deliver with the demands of what the pandemic brought on, she said. Theyre in-house because they have an understanding of the business and business needs and what drives business forward and thats a huge advantage to the IHA.

After the years experience, Aleka Sansom, executive creative director at Vanguard, said that in-house agencies will be focused on proving the value they provide to the business beyond just speed of operation.

Looking at the value of the business were contributing to is a really important part of the overall access and measurement metrics of an in-house agency, she said.

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Nigerian government at 85% of its 1 million meter rollout plan – ESI Africa

Posted: at 6:38 am

Nigerias Federal Government has taken delivery of 656,752 prepaid meters as part of the National Mass Metering Programme (NMMP).

Under phase 0 of the Central Bank of Nigeria-funded meter rollout programme, the government of Nigeria pledged to provide one million meters to Nigerians whose bills are still based on estimation.

However, of the 656,752 prepaid meters, 305,962 have already been installed for consumers, according to the Special Adviser to the President on Infrastructure, Ahmad Zakari.

Have you read?Nigeria federal government rejects World Bank power sector report

In an interview with local media, Vanguard News Nigeria, he said: The major problem faced by the indigenous producers and Meter Asset Providers, MAPs is the pace of ramp-up of available personnel for installation. Another problem is the lack of a vital plastic component as one of the two major global suppliers (based in Germany) had shut down during the Coronavirus pandemic, resulting in pressure to the value chain.

However, disbursement has been made for 656,752 meters, with the Discos already in receipt of almost 85% of the funded meters. Based on the current trend, all Phase 0 installations should be completed by the end of June, 2021.

According to him, the nation would start its phase one and later phase two of the meter rollout plan.

Previously, the Chairman of the Nigerian Electricity Regulatory Commission, NERC, Engr. Sanusi Garba, had said in an interview with Vanguard that, the Nigerian Electricity Supply Industry, NESI, had what we call the Meter Asset Provider, MAP. That scheme was a regulation we issued in 2018 and it took effect in 2019, involving third-party businessmen.

We gave them permits, and they went to the Discos and got contracts to supply, install and maintain meters for them.

So, they are the ones that have a responsibility to install meters for every Disco in Nigeria. That system is still working as we speak.

However, what happened was that when we gave the permits to those MAPs, and then they got the contract with the Discos, each of them was given quantities of meters to supply.

Have you read?NERC intends to conclude extraordinary tariff review for 11 Discos

In our regulation, we stated that each MAP must get at least 30 per cent of his meters from a local manufacturer, because we want to encourage local production, but 70%, they can import. So, they started, some importing, others buying locally to install the meters.

Along the line, the government had a new policy, introducing an additional levy of 35 per cent import levy on imported meters, which affected the MAP because at the time we agreed on the price of meters, the levy was about 10%.

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To expand or not to expand? Houston researcher weighs in on global growth – InnovationMap

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You built your business from the ground up, patiently finding techniques and products that work, carefully crafting solid bonds with your clients. Then one day a new project, opportunity or simple request poses a question: Is it time to branch out overseas?

Of the welter of questions to consider, the first and most important involves location: not just the physical location of the prospective expansion site, but the cultural differences between a firm's home country and its new destination. Secondly, key company traits need to be considered in choosing the investment locations. Is your firm large or small? Young or old? Finally, of pivotal importance to companies outside the United States: Is your company privately held or state-owned?

In a recent paper, Rice Business professor Yan Anthea Zhang looked closely at these three variables with Yu Li of the University of International Business and Economics Business School in Beijing, China and Wei Shi of the Miami Business School at the University of Miami. What, the researchers wanted to know, was the relation of these three features and firms' location choices for their overseas investments?

To find out, Zhang and her colleagues analyzed 7,491 Chinese firms that had recently ventured into foreign markets with 9,558 overseas subsidiaries. Because China now has become the world's leading source of foreign direct investments, the sample promised to be instructive. Thanks to the large sample size, researchers could test hypotheses relating to firm size, age, ownership and the impact of geographical and cultural distance on their location choices.

After studying the elements of geographic distance and cultural distance, Zhang and her colleagues uncovered a paradox. Companies that had an advantage in tackling one dimension of distance were actually disadvantaged because of the same characteristic in another dimension.

How, exactly, did this paradox work? Larger firms, with access to more resources, can "experiment with new strategies, new products, and new markets," the researchers wrote. This large size makes geographic distance less of a concern, but it comes with a ponderous burden of its own. Company culture is directly influenced by the country of origin, Zhang wrote. Transferring that culture into a completely different environment can cause the kind of shock that could lead to failure, even with financial and physical resources to ease the geographical distance. Conversely, smaller firms may be more nimble and able to adapt to needed cultural changes but lack the resources to make true inroads in a foreign market.

A similar paradox exists for older and younger firms, Zhang wrote. A younger firm is more likely to adapt to a culturally distant country than an older firm might, even if that youth means that geographical distance is a greater logistical challenge.

State-owned firms face a similar paradox, one that comes down to the balance of resources against cultural flexibility. A company with state-generated resources may be better equipped to move a caravan people, machinery and materials to a distant new location. However, state-owned companies often typically lack the internal cultural flexibility to handle expansion to a different environment.

What does this mean for the average manager? Simply that going global demands meticulous weighing of factors. Does your firm have the practical resources to expand overseas? Does your staff have the personal flexibility and willingness to meld company culture with that of a different milieu? It's a truism that major overseas expansions require money and heavy lifting. Less obviously, managers of successful companies must thread a very fine needle: ensuring they have the material resources to get their business overseas physically, while confirming that company culture is light enough on its feet to thrive in day-to-day life in a new place.

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This article originally ran on Rice Business Wisdom and is based on research from Yan Anthea Zhang, a professor and the Fayez Sarofim Vanguard Chair of Strategy in the Jones Graduate School of Business at Rice University.

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To expand or not to expand? Houston researcher weighs in on global growth - InnovationMap

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Bahamas Government has Authority to Deny Offshore Drilling, Analysis Shows – Earthjustice

Posted: at 6:37 am

Seattle, WA

The government of The Bahamas has full legal authority to end the current threat of offshore oil drilling in its world-famous blue waters. Thats the conclusion of a legal analysis by Earthjustice, summarized in a letter to the Bahamian government today.

The legal analysis comes as the Bahamas Petroleum Company requests a three-year renewal of offshore drilling licenses. The company, which was originally granted a drilling license in 2007, drilled an exploration well this winter but failed to find recoverable oil deposits.

The terms of those licenses, as well as provisions of governing law, make clear that the Bahamian government maintains full discretion and authority to deny the drilling renewal request.

Late last year, Prime Minister Dr. Hubert Minnis expressed the governments opposition to offshore drilling in The Bahamas as Bahamas Petroleum Company started drilling its Perseverance #1 exploration well. While that well failed to find recoverable oil, the company recently applied to renew its licenses while also announcing its intent to farm out any future drilling to as-yet-determined third parties. Under the terms of the existing licenses and the governing provisions of the Petroleum Act, the government has discretion to renew the licenses for up to a three years. But nothing in the available record requires the government to grant the renewal request.

As an organization working to protect our shared oceans and transition the U.S. away from fossil fuels, we respect and appreciate the Bahamian governments expressed opposition to offshore oil drilling in these treasured waters, said Steve Mashuda, Earthjustice Managing Attorney for Oceans. Our analysis concludes that the governments authority to deny a license renewal is firmly supported by the law. We urge the government to exercise that considerable discretion and authority to protect The Bahamas irreplaceable marine environment and deny Bahamas Petroleum Companys application to renew the licenses.

The letter explains further that a denial is not only within the governments lawful authority, but is also justified by the Bahamas Petroleum Companys actions and announced intentions, and would restore The Bahamas path to meeting its international climate commitments.

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Bahamas Government has Authority to Deny Offshore Drilling, Analysis Shows - Earthjustice

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Mayflower Wind surfaces as next offshore wind farm – The Inquirer and Mirror

Posted: at 6:36 am

(May 13, 2021) Town officials and island nonprofit organizations are preparing for the first public forum on the second largescale offshore wind farm proposed south of Nantucket.

Mayflower Wind, a 1,600-megawatt project proposed on a 192-square-mile federal lease site, 20 miles south of the island, follows Vineyard Wind, which received federal approval this week.

The question is what environmental and navigational impacts the wind farm could have, and what its construction could mean for the islands designation as a national historic landmark.

Every effort should be made to reduce the visual impact, whether thats moving back the turbines, using the (aircraft detection lighting systems) lighting, or painting the turbines a certain color, Nantucket Preservation Trust executivedirector Mary Bergman said.

To read the complete story, pick up the May 13 print edition of The Inquirer and Mirror or register for the I&Ms online edition byclicking here.

Click hereto sign up for Above the Fold, The Inquirer and Mirrors twice-weekly newsletter, bringing you both the news and a slice of island life, curated with content created by Nantuckets only team of professionally-trained journalists.

For up-to-the-minute information on Nantuckets breaking news, boat and plane cancellations, weather alerts, sports and entertainment news, deals and promotions at island businesses and more, Sign up for Inquirer and Mirror text alerts.Click Here

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Mayflower Wind surfaces as next offshore wind farm - The Inquirer and Mirror

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6 ways to find an offshore development team in 2021 – Finextra

Posted: at 6:36 am

Outsourcing is the new norm for developers to build software products. The vast transformation of the remote work business model has forced businesses to switch to outsourcing. Hiring offshore developers provides businesses access to cost-efficient qualified resources.

By outsourcing the development project, companies will obtain qualified professionals, a large talent pool, the latest technology development, and quality-oriented solutions. Due to the high demand for software products, the market is booming to extend offshore development teams. Nevertheless, finding an offshore development team is challenging, although it is a responsible and crucial task.

In this article, we have listed below 6 ways which can assist in hiring offshore developers.

Let's lead off!

1. Industry Directories:

There are many online directories such as Clutch, G2, Upcity, ITFirms, Good firms in which many of the offshore companies are listed. These directories bring together software development contractors. During the search, you can delve deeper into specific areas of expertise and obtain the company that does specifically what you need.

2. Freelance Websites:

If the business project is small or the budget is too li

mited then you must look at the freelance sites. There are several online portals where you can partner with an offshore development team. You can post job requirements on freelance websites and the interested enterprise will connect you. Below listed are some of the famous freelance websites:

Both websites are the most commonly used resources to find offshore development teams. Besides, there is a rating system, to get a good understanding of their work quality. The platform handles the administration aspect of your collaboration with employees, so you can concentrate on the progress of the project.

YouTeam is an ideal tool to find candidates or teams amongst developers. The platform ensures that the applicants have evidence of competency.

This platform assists clients and engineering teams to connect and collaborate before and during the project. And it connects businesses with potential contractors. It establishes a strong bond between the partners.

The aforementioned platforms are considered the most popular and effective in terms of collaboration among client service providers.

The con of a freelance website is you have to work with intermediaries such as Toptal, Up work, which will end up increasing offshore developer rates. Or you have to sacrifice security and reliability by hiring freelancers on your own.

3. LinkedIn Network:

LinkedIn is a global platform, which is logged in by almost every professional offshore development company. The people who are in search of new talents need to know about this global platform as it is the basic yet significant headhunting tool for clients and recruiters. However, This platform is not the main resource for searching for offshore development teams, but it may be of great assistance.

Using this website, you can access the geographical situation of the enterprises. Also, you can look in for the employees' data, their experience, and even the accounts of the companies employees. While hiring offshore developers, be sure to study their previous work history and their activities.

You should look for an active and curious offshore development team because software development is not a stable field, and companies that are stagnant in outdated knowledge are never the best choice.

4. Tech Talent Marketplaces:

Despite the fact that software is said to be consuming the planet, software developers and other technological resources are still scarce. It is very difficult for major tech companies to hire the best engineers. but it has also led to more frequent use of remote working freelancers or going to offshore agencies. The problem with both solutions is how to ensure work will be high quality & hire an individual who is a good fit for your team.

To get rid of the above issues marketplace for offshore tech talent comes in rescue. Here it connects individual developers at agencies with needed companies who are looking to add one to their own development team through outsourcing. On the supply side, the marketplace features profiles of individual developers at the organizations in which it has collaborated.

The intention is to hire named individuals from the firm for a fixed period of time or the duration of a much longer project.

For the agency employee, it is possible that they would have a more consistent and potentially more exciting stream of work without having to waste time searching for and pricing the next gig. For the company outsourcing development work, they get advantages of reputed agencies in the middle between developer and company handling all the payment and disputes.

5. Get In Touch With The Tech Community:

As you are part of the larger tech community, be sure to use networking to find the right candidates. You can ask others to help either online or offline. You can make a post on social media describing your project needs and situation. Share the post with your friends who are in the same industry or field and request them to share their experiences to your benefit.

You can also use platforms such as Quora and Forums by applying search for particular keywords. In such platforms, you will get responses from many of the people and via the link, you can get in touch with the offshore development provider.

Search on Google, you will find related companies there. You can use special keywords that will take you to the best offshore development websites. Before hiring an offshore development team you should look for the previous project and ask for feedback on their performance.

6. Through Local Consultant:

There are a lot of consultants who concentrate on putting you in touch with the offshore development teams. They are experts in negotiating offshore developer rates and dealing with them. These could be useful to you, especially if you do not have experience in team management or areas related to IT.

In addition, You can attend conferences and trade fairs, where offshore development teams will be exhibiting. You can also visit technical events and make contact with the tech community. Such connections will help you gather more information about remote workforce employment.

In A Nutshell:

If you are interested in collaborating with an offshore development team, you can use the aforementioned methods to get the best team. The offshore development team will drive down your development costs and enhance the quality of your software.

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6 ways to find an offshore development team in 2021 - Finextra

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