Category Archives: Evolution

IN A RECENT conversation about business changes over the past two decades, I was asked which I thought was the most disruptive: e-commerce, digital clienteling, social media, millennial shoppers, lab-grown diamonds, personalization, responsible business practices and supply chains or industry contraction. I tried to imagine ranking them in order of impact and realized that it wasnt possible. Or rather, that it wasnt instructive. Each of these developments has been highly transformative, but none of these elements alone is responsible for the systemic industry change we have experienced.

Rather, it is the convergence of all these developments that has wrought so much change, not only in our industry but across all industries. It would be simple to summarize all this by saying technology is the big disrupter, but its not the whole truth. The big shift is that we consumers have changed as a result of technology and in the process of our own evolution, we disrupted ourselves.

Each time a new technology was released, we learned to use it. Over time, not only did our learning curves become shorter, but our expectations of what we could, even should, be able to do as a result evolved. Each time that leading online merchants introduced new selling features and technologies, each time that Google changed its algorithm to get closer to the searcher, and with every social media channel innovation, our experience and expectations of what it means to shop expanded. Add a pandemic to supercharge learning curves, expectations and social awareness, and the recipe is complete.

In my opinion, the biggest disruption of the past 10-15 years is the transformation of the behavioral dynamics of shopping and marketing. And the risk is that we get so fixated on the specific technologies of change (you need a website, you need a social media strategy, you should have technology kiosks in your store) that we miss the retail psychology of these changes.

Retailers who take the time to focus on a clearly defined target audience and who authentically attend to the psychology of that target audience will win. There will always be a place for mass retailers who sell everything to everybody and that model is dependent on price competition. But for specialty retailers and luxury goods sellers specifically the winning strategy will be to identify closely with a definable target, then create the experience thats meaningful to that target, keeping in mind the ways that shopping and buying have changed not only our behaviors, but the desires and psychology behind those behaviors.

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How the Evolution of Shopping Has Changed the Psychology of It - INSTORE MAG

Welp, it happened. I finally dipped my toes into the Harry Potter universe. Maybe its the subtle Star Wars parallels, but Im into it and want more. What else have I been missing out on?

Its my job to get them ready to go early on, Williams said. So its completely on me. And I think the better that we play, the more confidence that theyll have. Starting off the second half, we are I like to look at the positive parts of it the second half, that were playing lights-out football. And so we just want to make sure that we can move that second half into the first half, first quarter, second drive, second quarter.

Well look and see what we did in the second half and the energy that we bring, the tackling, the turnovers, all those things, make sure that they we want those things to show up in the first half.

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Getsy's Big Play Offense, Fields and Chill, Run-Game Evolution, DC Falls on the Sword, and Other Bears Bullets - bleachernation.com

PERTH (miningweekly.com) Gold miner Evolution Minings Mt Rawdon pumped hydro (MRPH) project has been declared a Coordinated Project by the Queensland governments Coordinator-General.

The MRPH project is being jointly developed by Evolution and ICA Partners to provide up to 20 GWh of renewable energy storage at a critical location in the network. The combination of an existing deep openpit, surrounded by steep hills, with known geotechnical conditions that is only 22 km from the states major transmission lines makes for a very competitive pumped hydro project, Evolution noted.

The company told shareholders on Thursday that the award of Coordinated Project status confirmed the strategic significance of the project in the state and its potential to contribute to the objectives of the recently announced Queensland Energy and Jobs Plan.

Our plan to convert Mt Rawdon into a pumped hydro renewable energy asset has the potential to create significant value to shareholders while also being a model mine closure. It demonstrates that by thinking differently we can continue to contribute to the local and state communities after mine closure and support the renewable energy transition, said Evolution executive chairpersonJake Klein.

Coordinated status is an important milestone and we look forward to progressing the Project by working with our communities, First Nation partners and the Queensland government to ensure Mt Rawdon plays a constructive role in the future of the state.

Coordinated Project designation is intended to streamline interactions with key state government departments and agencies and the project team looks forward to commencing this process. This will include the preparation of an environmental impact statement.

At the same time the project team is continuing its engagement with key stakeholders including the local communities and First Nations partners of Mt Rawdon, the Commonwealth and state governments, the North Burnett and Bundaberg Councils, and the Burnett Mary Regional Group, along with the companys own employees and contracting partners.

The feasibility study for the project is also progressing and is on track for completion by mid-2023.

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Evolution's hydro project attracts attention - Creamer Media's Mining Weekly

Back in 2012 we sat down with Tom DeLonge when he was out on the road with Blink-182 celebrating their 20th anniversary. Here he looked back chronologically on his story up until then

Nearly three decades into a gigantically successful career with Blink-182, Box Car Racer and Angels & Airwaves, Tom DeLonge has finally found his true songwriting voice.

They say Einstein died while he was still trying to figure out gravity. I think Im going to die still trying to figure out some of the things about Blink, Tom DeLonge tells TG, deep in thought as he assesses the punk trios longevity.

While DeLonge ponders how a bunch of suburban brats went on to become million-unit shifting pop-punk kings and eventually experimental rock statesmen, he may want to deconstruct the seismic shifts his own playing has undergone in two decades.

From a punk-obsessed teen concerned only with playing faster and with more distortion than anyone else, to the effects-loving, prog-influenced song- crafter that stands before us, DeLonges journey has been as surprising as it has successful.

The third of three early Blink demos, this fast and furious beauty may have been recorded in two days, but it soon had the labels knocking at DeLonge and Cos door.

Who were your influences in the early days?

It would have been strictly the Descendants. I was trying to emulate that band. Really punchy guitars, fast, simple and formulaic nursery rhyme love songs.

How about your approach, riff-wise?

My entire thing was that there is one guitar player, so Mark [Hoppus, bass] and I both tried to play as if we were two. I would do these arpeggio things and riffs that were half riff/half chords or something just to try and fill in the space.

Carousel remains a fan favourite today...

I was thinking about it the other night. I was playing it and thought, Why am I playing this? The lyrics are so bad, but I guess its nostalgic, which is cool.

The Mesa/Boogie Triple Rectifier was key to your early sound, wasnt it?

I used to use Mesa/Boogies because I thought they sounded crazy and distorted. Over time [my sound] got cleaner and cleaner, so now Im on the Vox AC30 with very little distortion. In the early-90s that kind of Mesa/Boogie sound was a key element to my kind of music. I dont know why I used them... I didnt know any better.

Now signed to MCA Records, Blink swapped some of the teen reckless abandon for pop hooks on Dude Ranch and spawned a genuine modern punk classic.

Do you think youd begun to mature as a songwriter by Dude Ranch?

Absolutely. That was the first record where we were beginning to get into mainstream, formulaic arrangements. We spent five weeks on that recording. That was a huge jump for us.

Were you also finding your feet as a guitarist in terms of sound and tones?

That was when we started getting into Marshall [JCM900] amps and the tones started going a little bigger and better. The only thing that was bad about that album was the jokes we made up on the inside of the album cover.

"I remember sitting at the Sombrero taco shop going, F**k, weve got to finish off our album cover, lets just write some jokes to these cowboy pictures. Why did we do that? We should have had better jokes for those pictures.

And Dammit was a huge hit...

That is one of the best songs weve ever written. Mark wrote that one. Thats probably the best song. Its so timeless and represents our band because its about growing up, its perfect.

In 1999, Blink-182 went stratospheric. Smash singles All The Small Things and Whats My Age Again helped Enema Of The State go on to sell more than 15 million copies, making Blink one of the biggest bands on the planet as the new millennium approached.

Was Enema Of The State another big jump?

For Enema... we spent four months recording and we had [the late punk producer] Jerry Finn producing we learned everything. We learned how to record, how to play good, he didnt let anything pass.

"There still werent any computers really, so it was all to tape and you had to play it right. We really trusted him.

How did Travis Barker joining the band effect your playing?

It was like, Now anythings possible, we can play any kind of song. Mark and I instantly played better because we were keeping up with someone who played everything perfectly so we became a lot better at that time. We were nowhere near as good as Travis, but we got better.

Another risque title and packed with sugar-fuelled pop-punk hits yup, its more of the same from Blink. It worked, though, and sold 350,000 copies in its first week alone.

There must have been huge pressure to follow Enema... with a carbon copy.

We were just trying to write songs that were better than Enema... but we werent taking any leaps and bounds creatively. There was pressure, but not too much. I mean, we wrote songs about f**king pirates and dogs.

"I remember the label came down to hear the big follow-up and those were the only songs [bonus tracks F**k A Dog and When You F**ked Grandpa] we played them. Oh my God, they lost their minds. We had this song about f**king Hitler - we changed it to 'when you f**ked grandpa, but it originally was, When you f**ked Hitler did he tell you that he loved you? They lost it.

Was this when you first began experimenting with your sound?

From a guitar point of view, the biggest deals were all of the clean tones and using all of these different chorus pedals, flangers and delays just really light, tasteful touches. But I didnt really accept pedals in my heart until later.

"I was so slow. F**k! I was just into punk-rock. I thought we were cooler than every other band. I thought punk was way cooler and we knew something other people didnt know. Now I look and think, F**k, there was a lot I didnt know!

The change begins. DeLonge and Barker strike out with a new band, discovering effects pedals, heavy riffs and... red paint.

Was this a watershed album for you?

I was getting kind of bummed out in the studio [with Blink]... Its probably my fault because I never said, but I just wanted to get in there and try things out, but you feel like you cant because the band is paying for studio time.

"Its almost like you have a canvas and all of these paints but somebody says, No, dont touch those now, weve just got to get the blue on the canvas, And you say, But theres red! No, get the blue done, maybe theyll be time for red later. And with Box Car I just wanted to do that.

That mustve been a liberating experience...

I went into Box Car Racer thinking I could do whatever I wanted and I was going to do a completely different thing using delay pedals, giant heavy guitar riffs, loops. That changed me dramatically.

Do you remember the first of those heavier riffs that you came up with?

All Systems Go. It was a big heavy riff, it sounds like [influential NY melodic hardcore band] Quicksand, it has huge guitars and was the first time Id written a really heavy riff. That was so good for me.

DeLonge brings his new Box Car Racer vibes back to Blink, creating an album that they didnt seem to have in them less gags, more experimental sounds.

It was a definite step away from your mainstream pop punk guitar sound.

Thats the time we started doing lots of weird stuff: acoustics, clean, pedals, micing techniques, everything was weird. Even doing the song All Of This with Robert Smith from The Cure, that song was really hypnotic and all acoustic, and then on I Miss You theres not one electronic instrument.

Where was your head when you were putting Angels & Airwaves together?

That was more than Box Car Racer. That wasnt me testing myself, that was redefining myself. I changed everything, I changed all of my amps, learned how to produce, how to play piano, learned all about pedals, I learned everything.

Did having a second guitarist in the band change your playing?

It was good to have those options. [With Blink] I was always stuck in this framework that it had to be certain way because we could only perform it a certain way, and people would think that were cheating or something. Thats wrong. We shouldnt have ever thought that way but I did so I stuck to such a specific template. That slowly started to change.

How did your rig change?

I went to Voxes [AC30H2] and Fender 65 Twin Reverbs together. That changed everything for me. A Mesa/Boogie is like a nuke: you plug it in and it fills up every piece of the sonic spectrum. If you use a Vox and you ring out a chord it only fills that one specific spot in the spectrum and you need other things to happen.

On their first album for eight years, Blink returned with their darkest effort to date.

What was it like making a record together after so much time away from Blink?

I think we werent unified as a band. If we were to start now wed be much more unified. Mark was in his studio in LA, I was in San Diego, everyone was so busy. Out of recording for a year, we were only in the studio as all three of us together for a total of one or two weeks.

"We only wrote songs together for three days. The rest was emails. But we accomplished it and thats the big thing. The first song I sent over was Up All Night. People say that sounds like Angels on a Blink record. Well, no thats just me.

Your influences have clearly changed since Buddha. Whose playing stands out for you now in terms of guitarists?

The Edge. He plays really simple s**t for the most part and then he adds some really progressive s**t on it and it becomes its own deal. Hes interested in writing songs and having diversity in songs and that really resonates with me.

Does that highlight the changes your sound and style have undergone?

I dont listen to punk any more, unless its right before I play. Not that I dont like it, its nostalgic. But, its for kids and it should be... its not art, its expression. I feel like you need to know art, too. Ive changed as a person, Im a new dude. Im a superhero now!

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Classic Interview: Tom DeLonge talks Blink-182 evolution "We were nowhere near as good as Travis, but we got better" - MusicRadar

Introduction

Ayman Al Zawahiri is reported to have been killed in a smooth surgical missile strike by the USA, firing two Hellfire R9X missiles on the target, and apparently without any collateral damage.

This news flash brought back the memories of the 2011 Operation Neptune Spear by the US Navy Seals that killed Osama Bin Laden, the founder of Al Qaeda. Zawahiri became the chief of this terror group after Laden was killed in 2011.

President Joe Biden has even more reasons to experience a sense of achievement in the success ofthe recent operation as he was the Vice President back then in 2011, sitting in the Situation Control Room along with the then President Barack Obama and other officials, as they all watched the Laden hunt being live telecasted from Pakistan. The tweets by Biden and Obama posted after the recent operations also point towards this bonhomie. The recent operation draws on from the experiences of the CIA and the US military strikes in West Asia, global opinions, human right concerns and lessons learnt from the 2011 strike. This article analyzes the important elements of the change in Americas targeted killing strategy since 2011.

Background

Ever since the 9/11 WTC attacks carried outin New York, Bin Laden had become the face of global terror. From a mystical figure wandering across the Hindu-Kush, he now suddenly found himself to be the most sought after terrorist in the world and his name was at the top in wanted lists of many countries. The CIA and Pentagon effectively used the 9/11 incident to enhance their budgets and capabilities, the rationale behind doing so being justified by the horrendous attack that killed over 3000 people.

The CIA launched a massive intelligence gathering campaign, combining technical surveillance with extensive human intelligence gathering even resorting to inhuman methods of interrogation. The message was clear on Americas part as they declared the so called Global War on Terror with the famous axiom in this war, you are either with us or against us.

It was quite amusing to see Barack Obama saying in his recent tweet after the successful operation that killed Zawahiri: roots of terror can be destroyed, without declaring a war on terror but that was what he effectively did during his tenure at the White House, ordering almost 10 times more drone strikes than George Bush[1].

Way back in 2011, the CIA presented their assessments and plans to Barack Obama regarding the Abottabad compound that they doubted was Ladens safe house. CIA had inputs from many sources, including an ISI officer who tipped them off about the location of this compound. The CIA and other American agencies like the NSA and NGA had even bought a safe house in Abottabad to keep 24*7 surveillance on the suspected site.

The mandate from the leadership was said to be capture or kill Osama Bin Laden[2], which became controversial later with some sections saying Laden should have been captured alive while most others being in favor of shoot-at-sight:

The Strategy:

The President was presented with multiple options like a drone strike (firing targeted missiles), a commando raid, bombing the compound by B-52 stealth bombers etc. One of the options to conduct a joint operation with Pakistan to kill Laden was ruled out , due to suspicions on Pakistans reliability. Barack Obama eventually ruled out the other options and confirmed the plan for a quiet midnight commando raid by Special Forces, who used modified Black Hawk helicopters, with mission specific arms and ammunitions. Joe Biden is said to have also advised Obama about the possible ramifications for Pakistan when the knowledge of this operation became public.

Aftermath Factor:

Possibilities of collateral damage, other civilian casualties in the area etc. were also factored in. The CIA said they were unsure if aerial bombing would work, incase there is an underground bunker lying there. Also it would have been impossible to verify if Laden was dead, since till last moment the CIA had no photograph of the white clothed man wandering in this compound, to be Bin Laden or someone else. It was only after the Navy Seals saw Laden and shot him, it was confirmed that he was dead.

On-ground Strategy:

A house intervention model of attack was followed with the Forces entering from the terrace and ground floor simultaneously, clearing out each room one by one. Laden was eventually discovered on the 3rd floor and as he tried to hide, a commando took 3 successive shots and killed him straight. A huge amount of hard drives, computers and whatever else the Seals could lay their hands on was taken away as evidence for further analysis.

Operational issues:

One of the helicopters that had crashed in the compound was blown up by explosives to avoid reverse engineering attempts on the technology by Pakistan and China, and the remaining copters were used to carry Ladens body back with the hit teams and the collected evidence. Laden was quietly buried in an unknown location in the Arabian Sea within 24 hours of the strike. During the raid other occupants of the house who came in the way of the commandoes were also shot dead[3].

Kill confirmation and identification:

Facial identification confirmed that it was Osama Bin Laden. To be doubly sure, one of the Navy Seals was made to lie down next to Ladens body -and the body length also matched (6 feet). You just blew up a $65 million helicopter and you dont have enough money to buy a tape measure?, Barack Obama is said to have remarked back then![4] .

Public knowledge of the operation:

The White House issued a statement next day, saying the President will address the nation at around 10 pm local time, but some junior officer from the Navys intelligence department leaked out the news of Ladens death at around 9.45PM. The media was quick to pick this up, while the Presidential address happened around 11pm in the night.

Global responses

Pakistan was quite embarrassed, as ithad always denied knowledge of existence of Laden on its land. Media reports mentioned that Pak allowed the Chinese to have a look at the wreckage of the damaged helicopter.

USA came in under huge criticism world over as more information about its detention centers, illegal interrogations and surveillances became public. Wikileaks and Edward Snowden also helped the world know about the CIAs excesses in trying to catch Bin Laden. This became all the more important after US announced withdrawal from Afghanistan in 2014, that stretched to 2020 due to various reasons. The global opinion had been rising against Americas double standards and selective actions on terrorism as also its tacit support to Pakistan while being fully aware of Paks support to terrorism. This became a learning point for all future special operations wherein America relied on no one else to carry out a similar strike.

The Hunt for Ayman-Al-Zawahiri:

Its interesting to note that both Laden and Zawahiri carried a 25 million dollar bounty on their heads , as announced by USA and both were killed in militaryoperations. Both were instrumental in planning the 9/11 attacks and that the leader of the violent jihadist group was in Afghanistan was not surprising: since the hard-line Islamist Taliban regained control in August, Al-Qaeda has felt more at home, analysts say. In the recent operations as well, this was an important consideration as the consequences of this operation on US-Taliban relationship was factored in, before giving the go ahead to kill Zawahiri no official bilateral relations exist as of now, so that was not so much a concern for USA.

The intelligence derived from the huge trove of information hard drives in 2011 was used effectively in tracking down Al-Qaeda members and other suspects, planning drone strikes killing terror sympathisers in Syria, Yemen, Somalia etc. since 2011. The USA could now map, identify, and link bits and pieces of information to make a careful selection of their targets. As Zawahiri assumed the top post in Al Qaeda after Laden was killed, he was quite obviously on the CIAs hit list.

As was the case in 2011, the whole complex, its structure, material, surrounding buildings etc. were studied and it was decided to attack only Zawahiri, ensuring no other civilian casualties and infrastructure damage. US officials presented the house model and a final attack plan to President Biden on July 1st 2022. Issues that may arise due to weather, structure of building, collateral risks etc. were discussed out.

The main points of departure from the 2011 case were:

This minimised the post operations risk for the USA as even the attacking weapon, time of assault and the transport vehicle were aptly chosen as per the mission requirements. Also, the operation was made public by the President of the USA himself, thereby giving no chance to other non state entities inside or outside USA to leak out the news.

Also, since just Zawahiri is said to have been eliminated there has been no counter response from human rights organisations and other sympathisers of the Al Qaeda.

The strike involved a US drone (most probably the Reaper), armed with two precision-guided Hellfire missiles (R9X version), which were launched at 6:18AM Kabul time on 31st July 2022[5] .Zawahiri was killed on the balcony an official told the western news agencies. But since then no pictures or other data confirming the death of Zawahiri has been made available in the public domain. The only reliable sources remain the official tweets, news reports and response by the Taliban government.

A normal version of HELLFIRE missile carries high explosives warheads that explode on impact and create area damage. But the R9X version deploys a series of six sharp knife-like blades from its fuselage and shreds its target but leaves nearby people and objects intact[6]. Some people describe it as a falling anvil from the sky.

This has earned it a deadly reputation by names of flying ginsu or flying ninja[7] as this missile has been used many times by US forces to kill other jihadist group leaders without hurting people around them.

It has now become the go-to weapon for targeted killings of high value targets by the USA and as is the ritual in the intelligence community, the CIA never acknowledges the airstrikes it conducts. On previous occasions also, officials in USA have admitted to conducting such strikes, but on the usage of Hellfire missile neither any official, military contractor or the manufacturer of the original Hellfire series have responded to the use of this missile. The US government has never accepted or rejected the possession of this missile in its arsenal.

Thus, the counter terrorism strategies would further evolve in coming years as new technology increasingly has an influence on tactics and strategy, making them an important influencer in planning offensive operations. This would also mitigate the concerns on human rights, innocent killings and infrastructural losses. If carried out in complete secrecy, such operations ensure almost zero accountability for the attacking side and thats how new era warfare would be potent , stealthy and anonymous.

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From Bin Laden to Al Zawahiri: The evolution of Americas Targeted Killing Strategy - Indian Defence Review

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Summary

The Playlist is a good case study with biographical flair.

Our review of the Netflix limited series The Playlist contains no significant spoilers or plot points.

Limewire. Pirate Bay. If you are a 30-something individual, you may fondly remember the days of using torrents to download your favorite and upcoming music. You were unwillingly and unknowingly part of a revolution, secretly knowing that the chances of facing any judicial charges were low. Why? Because the whole world was doing it. It was a natural resistance to paying for overpriced CDs.

Theres no denying that Spotify was one of the early players that started a legal evolutionary change. By changing our perceptions of streaming, the music industry boomed differently. Business models slowly changed, and the rise to the top of the music charts provided a different route. While we can signal the cultural shift of entertainment via the likes of Netflix, Spotify was a critical activist in music.

The Netflix limited series The Playlist gives a true story account of how Spotify came to be, case studying different players in the market that helped contribute to its rise. Each episode is as compelling as the others. Still, praise must be nodded towards the premiere chapter, following coder (and now billionaire) Daniel Ek. This seemingly ordinary man is not deterred by making millions but is painfully bored with no purpose. The opening chapter shows Daniel realizing that money is not the intended outcome, but creating something meaningful is the cornerstone of true power. Watching a man who scratches his arse and munches on snacks while casually coding in his mothers house late into the night is an eye-opener. Anyone can attain significant wealth.

The Playlist combines other high-profile figures that changed historyzoning in on the desperate but solution-craving musical label mogul Per Sundin. The series enjoys eccentric and bottomless cash entrepreneur and co-found of Spotify, Martin Lorentzon.

But The Playlist also reveals the legal and technical complexities Daniel Ek and his Spotify team found themselves enduring. With ambition came tight regulations and an abundance of red tape that felt like an impossible hill. The Netflix series truly encapsulates how legally privileged the music industry is and the trappings that came from daring to be innovative.

But its not a slap on the wrist for the music industry. If anything, the series is balanced. It makes the entrepreneurs feel as exploitative as the music executives and as aggressive as the internets dark underbelly. Bringing a balanced view in the story means the audience can stake their opinions on how the music industry evolved.

And thats it in a nutshell The Playlist is a good case study with biographical flair. It truly understands how the problem with illegal music torrents transversed into a worldwide solution. Theres always a gap in the market, and this Netflix series recognizes how it takes one average individual with a brain to conjure an idea that changes lives for better or worse.

What did you think of the Netflix limited series The Playlist? Comment below.

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The Playlist review - a fitting case study to the evolution of the music industry - Ready Steady Cut

NEW YORK--(BUSINESS WIRE)--Supply Wisdom, the leader in continuous risk intelligence and actions, today announced the latest version of its award-winning solution, Exuma, which leverages its real-time risk intelligence to automate risk actions.

With todays dynamic risk environment, companies are struggling to stay ahead of supply chain disruptions, said Atul Vashistha, founder and chairman of Supply Wisdom. We are thrilled to bring Exumas never-before-seen automation capabilities to the market. While our clients are already experiencing great results with the previous version of Supply Wisdoms solution, such as 3x greater process efficiency with 10x ROI, we are confident that the new automation features in Exuma will transform risk management team productivity, process efficiency, and disruption prevention. With Exuma, companies can now automate their entire risk management lifecycle from risk identification to risk decision and action.

Founded by experts in global sourcing and supplier management, Supply Wisdom understands how the dynamic risk environment puts inordinate pressure on teams to both identify the endless unknowns and proactively mitigate risks. Exuma is built on Supply Wisdoms award-winning continuous monitoring and real-time risk intelligence solution, which covers more risk domains than any other solution. The latest update includes customizable workflows configured to clients risk thresholds to trigger automated actions.

This advancement in risk management automation is a game changer for procurement and risk teams. Using data science applied to continuous risk management through automation frees up administrators to apply more resources to active risk management and less to administration, said Jim Routh, former chief security officer of Aetna CVS and MassMutual and Supply Wisdom board member.

With the release of Exuma, Supply Wisdom has added exciting new features that enable significant improvements in risk management process efficiency, supply chain resiliency, and disruption prevention efforts, including:

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About Supply Wisdom

Supply Wisdom is how companies can finally stay ahead of supply chain disruptions. With todays dynamic risk landscape, companies face endless unknowns in their supply chains and limited resources to act on them. From natural disasters and compliance issues to bankruptcies and cyber vulnerabilities, companies lacked a clear picture of all risks and the resources necessary for effective action.

Now Supply Wisdoms always-on monitoring solution provides the most comprehensive real-time risk intelligence and triggers automated risk actions, so companies always have a clear picture of all risks and an efficient solution for swift mitigation.

Thats why industry leaders from Financial Services, Healthcare, Pharma, Hi-Tech, Insurance, and more rely on Supply Wisdom. And its how our clients are seeing so many great results - such as 3X greater process efficiency with a 10X ROI - while experiencing fewer disruptions, resilient supply chains, and enhanced business continuity. Now its all clear

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For more information, visit http://www.supplywisdom.com and follow us at https://www.linkedin.com/company/supplywisdom

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Supply Wisdom Announces the Next Evolution in Automated Risk Management - Business Wire

This article is written and published by S&P Global Market Intelligence; a division independent from S&P Global Ratings. S&P Global Ratings does not contribute to or participate in the creation of credit scores generated by S&P Global Market Intelligence. Lowercase nomenclature is used to differentiate S&P Global Market Intelligence PD credit model scores from the credit ratings issued by S&P Global Ratings.

In this updated analysis of Uncertainties Impact Credit Risk in the European Union and the UK we further examine how companies in the European Union (EU) and the United Kingdom (UK) have fared in the complex pre- and post-pandemic environment which, more recently, have been further impacted by new challenges, ranging from stagflation to geopolitical pressures.

Figure 1 shows historical speculative default rates provided in CreditPro, our solution that provides rating transition, default and recovery rate analytics. As noted in our previous analysis, we saw a surge in speculative-grade company defaults in 2002 with the tech bubble, and in 2009 following the global financial crisis. We have since witnessed a further spike in 2020, albeit mitigated by numerous government fiscal initiatives and central bank accommodative policies enacted to support businesses.

As countries adjust to the post-pandemic new normal and central banks reduce accommodative policies, companies in specific sectors face the challenge of reducing the debt accumulated on their balance sheets and have a higher risk of default.

Figure 1: EU+UK Region and Global Trailing-12-Month Speculative Grade Default Rate

The Probability of Default (PD) Model Fundamentals measures the likelihood of default for public and private companies by assessing their financial and business strength. We calculated the median credit risk using the latest available financials to gain a mid- to long-term view of how the credit risk of different industries in the EU and UK has responded to market conditions.

In Figure 2, we examine the median PDs for the EU+UK region by industry, focusing on a range of industries/sectors that display the highest median PDs, greatest change in PDs, and lowest PDs. Airlines continued to exhibit the highest PD. The sector also exhibited the highest volatility between Q3 2020 and Q1 2022, ranging from a median PD of 8.89% to 11.52%, equivalent to a credit score of ccc+.[1] The volatility across airlines' PD can be attributed to travel restrictions that were lifted and imposed many times during that period. For instance, high vaccination rates by Summer 2021 and lifted travel restrictions led to higher demand for holiday destinations, resulting in extensive air traffic throughout summer 2021, reflected by stable PD. However, as winter came in 2021, the Omicron variant emerged. European governments-imposed new travel restrictions and forced airlines to cancel tens of thousands of flights, reflected by a spike in PD in Q1 2021. As restrictions were lifted once again, PD decreased. However, increasing jet fuel prices with labour shortages led to lower profit margins, which increased business risk, reflecting higher PD levels.

Figure 2: PD Fundamental Evolution in EU+UK by Sector

The hotels, restaurants & leisure sector experienced the biggest increase in their PD, rising from 3.96% to 6.76% (from Q3 2020 to Q1 2022), a 70% increase. Multiple waves of lockdowns, compulsory testing, bans on international travel, and most importantly, two-week quarantine upon arrival at many destinations discouraged people from traveling, severely reducing demand and driving occupancy down to 20-30% of pre-pandemic levels. This also contributed to persistent labour shortages within the UK, as this sector traditionally employs foreign workers, many of which moved abroad during the pandemic.

The retail sector exhibited the second highest PD throughout this period, increasing from 8.11% to 8.50%, driven by supply chain issues and persistent cost inflation. Higher energy prices, shortage of raw materials, and higher freight cost have significantly increased the operating costs of many retailers, thus reducing their profit margins and accelerating business risk. Although the PD increased, the retail sector did relatively well as a result of high spending by consumers and the government measures put in place, such as the Furlough Scheme.

The PD for the energy sector spiked from 6.37% to 7.68% until the first half of 2021 due to the sharp contraction in oil demand during the height of the pandemic. As the global economy recovered throughout 2021, global oil consumption increased, and prices rose consistently, subsequently reducing the PD to 7.47%.

Utilities companies maintained and lowered PD levels from 3% to 2% in 2021, as power prices in Europe rose due to higher electricity demand as the economies recovered from COVID-19. In addition, longer heating seasons in some EU Countries along with Government-imposed tax cuts and subsidies helped the utilities sector to retain strong financial performance. However, at the beginning of 2022, utility companies found themselves vulnerable, with 31 UK energy companies going bankrupt. A reduction in Russian spot sales in late 2021 led to high gas prices in Europe along with a price cap that made it hard to pass high prices onto consumers, which led to lower margins and forced companies to make losses. Therefore, the PD has risen to 3% in Q1 2022.

It would be remiss not to mention the rising uncertainty surrounding the oil and gas supply in 2022 due to geopolitical events. The Russian invasion of Ukraine has led to global, all-time high energy prices, which has negatively impacted businesses within the EU and the UK.

We should also note those sectors that did well in our analysis, such as pharmaceuticals and healthcare, that managed to see a reduction in their PD over this term, related to the successful launch and efficient distribution of COVID-19 vaccines. As the world recovered from the pandemic, the demand for non-COVID-related healthcare services also grew. The financial sector remained stable throughout 2021, with strong consolidation of M&A activities.

The transition of credit risk in the EU and UK

Comparing the fundamental PDs of the same set of public and private companies across the EU+UK and grouping them by credit score (e.g., bbb+, bbb, bbb-, etc.), provides insight into the transition of credit scores from Q4 2021 to Q1 2022 for this sample set. Figure 3 shows that the percentage of companies with aa to bb+ scores decreased in Q1 2022, while with the exception of ccc+ the percentage of companies with scores commonly classified as speculative grade at bb or below increased. The most sizeable shift was at the score level b-. This implies that, similar to our 2020 analysis, there was a continued weakening in the fundamentals across these companies, and a worsening credit quality, despite post-pandemic recovery and strong consumer spending. Moreover, within this sample of companies, there was an increase in the percentage of companies with lower credit scores by Q1 2022. This negative shift was linked to rising inflation, oil and gas prices, and supply chain issues.

Figure 3: Transition of Credit Scores Q4 2021 Q1 2022

In this PD Fundamental analysis we looked at how the credit risk of public and private companies headquartered in EU and UK has changed between 2021 and the beginning of 2022. Airlines, hotels & restaurants, and utilities are among the most affected. Other sectors such as materials, pharmaceuticals, finance, consumer durables, and healthcare were either stable or experienced moderate improvement, displaying more resilience to increasing inflation and recent supply chain shocks.

If you would like to learn more about the PD Fundamentals Model or any of our other solutions for managing and monitoring credit risk, request a call-back here.

[1] S&P Global Ratings does not contribute to or participate in the creation of credit scores generated by S&P Global Market Intelligence. Lowercase nomenclature is used to differentiate S&P Global Market Intelligence PD scores from the credit ratings used by S&P Global Ratings.

Originally posted here:

The Continued Evolution of Credit Risk in the European Union and the United Kingdom - S&P Global

FW: What key liability considerations do automotive companies need to make when evaluating product safety concerns from inception through to development and commercialisation?

Richter: When evaluating product safety concerns under German law, automotive companies must keep in mind strict liability under the Product Liability Act and fault-based producer liability in civil law, obligations under public law in accordance with the Product Safety Act and the Market Surveillance Regulation (EU) 2019/1020, and criminal liability. Manufacturers are obliged to organise their operations in such a way that, as a matter of principle, only safe products are placed on the market and, wherever a source of danger arises due to faulty manufacturing, to ensure that as far as possible this does not come to fruition. Manufacturers therefore have a duty of care both when the product is placed on the market and after it has been placed on the market. Automotive companies need to consider four categories of possible defects: design defects, manufacturing defects, instructional defects and product observation defects. In this context, the general safety expectations are of enormous importance.

Hoffmann: To meet the general safety expectations, it is essential that automotive companies at least comply with the statutory product requirements and the relevant technical standards. In particular, ISO 26262 should be mentioned here, but original equipment manufacturers (OEMs) regularly demand that their suppliers comply with this standard. However, technical standards like ISO 26262 only represent a minimum standard. Compliance with technical standards is therefore not necessarily sufficient to exclude liability. This applies, for example, if the technical development or scientific findings have gone beyond the standards or if hazards have become apparent during use of the product which have not yet been taken into account in the standards. The manufacturer is liable if the defect was recognisable and avoidable during construction. Hence, we recommend that automotive companies adopt active product safety management that goes beyond compliance with statutory product requirements and technical standards.

FW: To what extent are you seeing original equipment manufacturers (OEMs) requesting that their suppliers designate product safety representatives in order to minimise risks during the development and production process?

Richter: The requirement to appoint a product safety representative (PSR) usually comes from contractual obligations with OEMs. German OEMs began requiring appointment of a PSR throughout the supply chain several years ago. Such requirements often refer to chapter 4.3.2 of the International Automotive Task Force (IATF) 16949, which allows further customer-specific requirements for the quality management system. Since the approach has met with the approval of the German Association of the Automotive Industry (VDA), the VDA recommends the designation of a PSR in its VDA Red Volume Product Integrity, which was published for the first time in November 2018. In the latest volume, published March 2021, the VDA specifies the role as product safety and conformity representative (PSCR). According to the VDA, the aim is to create a communication network both in-house and throughout the automotive supply chain that serves to exchange early warnings and lessons learned.

Hoffmann: With this in mind, more OEMs are requesting that their suppliers designate a PSR. For example, some OEMs stipulate in their purchasing terms and conditions that, in order to ensure product safety and avoid product liability cases regarding goods, the seller must appoint a product safety officer in its company for each production location and designate this individual as the key contact in the business-to-business portal supplier database before the first delivery. Other OEMs continue to leave this to the suppliers. However, there are also suppliers that demand appointment of a PSR from their sub-suppliers. According to the quality requirements of a major German tier 1 supplier, for instance, a PSR must be available at all production sites of tier 2 suppliers that produce for the tier 1 supplier. So, the requirement to appoint a PSR is becoming increasingly significant in the automotive supply chain.

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Evolution of the automotive sector evolving safety and liability Financier Worldwide - Financier Worldwide

Beanie Feldsteins, Julie Benkos and Lea Micheles different finale costumes illustrate fatphobia on Broadway

Hello gorgeous! Lets talk about Broadway, shall we? The revival of the hit Broadway musical Funny Girl has faced a great deal of scrutiny since it opened on Broadway just six months ago. Three actresses have already played the role of leading character Fanny Brice, something that has confused fans worldwide.

Still, the most controversial change comes in the form of a red beaded dress that is worn during the finale of the show. This mid-length dress was adorned with long sparkly sleeves and a gold neckline that covered the actress cleavage. Following Beanie Feldsteins sudden exit from the show at the end of July, the costume underwent abrupt changes in the length and size of the sleeves.

TikTok user @alainanoelleo was one of the first to highlight these changes. She commented that it took no more than 3 seconds to remove the sleeves and change Fanny Brices final dress after Beanie Feldstein. You can say whatever you want about it. As a bigger-bodied person, it was noticed, felt, and noted.

Julie Benko, Feldsteins slimmer understudy, took over the role during the summer and saw her final dress transformed into a sleeveless and somewhat shorter one. This change raised some eyebrows at the time, but Benkos talent overshadowed the controversy. However, all previous suspicions were confirmed when Lea Michele stepped into the role with an even shorter, lower-cut finale dress. Like Benko, this Glee actress is notably thinner than Feldstein, so her debut in this completely new costume came as a big shock. This move ignited a debate about fatphobia on Broadway and the tendency to favor slimmer actresses.

Broadway has been asking actors to lose weight for parts for years, so the issue of fatphobia in theater is not a new topic. One recent case was that of Andr Jordan who, in an interview with the Los Angeles Times from May 2021, commented that he was asked to lose 15 to 20 pounds for his ensemble role in the musical Legally Blonde. To add insult to injury, the interview was conducted in response to a New York Times article written during the pandemic where Broadway producers claimed performers had gained weight during lockdown.

What shocked Funny Girl fans the most, however, was the contradiction between this controversy and the topic of the show. The storyline follows an imperfect showgirl who struggles to make it in a demanding industry. She has to go against social prejudices in order to gain the fame and success she always wanted. For a show that prides itself on celebrating individuality and the beauty of imperfection, these costume decisions seem confusing and contradictory.

After Beanie Feldsteins departure, she noted on her instagram that The production decided to take the show in a different direction and thus, she decided to cut her run short.

Nevertheless, there could also be a different way of looking at all of this. Though the optics are less than ideal, it is important to consider that these changes may just be a form of comfort. There has been no official confirmation as to who ordered these alterations, so whos to say it wasnt the leading ladies themselves? Often, actors work in collaboration with costume designers to create pieces they can feel comfortable in. This dynamic may be the case for the actresses in Funny Girl. This could be especially true as this was the only costume to be changed after the end of Feldsteins run. Additionally, this is not a new idea, as other productions such as Six and Hamilton are known for customizing their costumes for every actor that takes on a new role.

Another possible reason for this change is that the producers wanted to mark a new chapter in the show. After Beanie Feldsteins departure, she noted on her instagram that The production decided to take the show in a different direction and thus, she decided to cut her run short. Feldstein was heavily criticized during her time in the show, so the production may have redesigned the costume to mark a new change. Indeed, it appears this idea has worked, as Lea Micheles run has been little short of perfect, with glowing reviews all around.

The production of Funny Girl has not addressed any of these claims at this time. It is clear that these changes would send the wrong message, and I truly do believe their public relations team could have seen this coming.

Situations such as these shed light on the issue of fatphobia in Broadway and how this matter needs to be discussed. The musical theater industry prides itself on celebrating differences and the uniqueness of their characters. What we can only wish for now is that producers grant the same courtesy to the actors portraying these roles. After all, it is way more interesting to be a bagel on a plate full of onion rolls!

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Not So 'Funny Girl': The Evolution of Fanny Brice's Costume and Its Fatphobic Connotations - Fordham Observer