Category Archives: National Vanguard

Shareholder profits at the Malvern, Pa. company are being undercut by undisclosed millions in executive and staff pay raises as the company seeks to shore up its eroding value proposition.

Brooke's Note: Vanguard gets it from both sides. It got slaughtered lastyear when it launched a mobile app to boos. It also got hammered on service during the pandemic. Yet this article focuses on Vanguard, perhaps, taking the steps at modernizing its workforce that could lead to an overhaul of service and the digital experience. Still,the ways CEO Tim Buckley is channelinghis inner BF Skinnerto get better talent and better efforts out of them run smack into the other big new emphasis at Vanguard -- the cooperative "shareholder" structure. In theory -- every investor is a virtualowner. The potential conflict is that when Vanguard chiefs pay themselves princely Fortune 500 wages, those dollars are subtracted from the shareholder take, at least in the short term. Yes, that's the way of the free (and not free) enterprise world. Get over it. But it doesn't really explain why -- if it's all good -- thatVanguard declines to share information about this giant expense item with its"owners." It also makes it harder to connect dots asan owner about strategic shiftsthat seem out of Vanguardian character. Are they being made to benefit downstream shareholders or upstream shareholders? Or do they give-or-take both about the same?And why is this conflict at a company that is seemingly a paragon of investor transparency?

Vanguard'ssecretive shift to aWall Street-style business model is alarming longtime company watchers who fearits coming at the expense of"owners" who invest in its traditionallow-cost index funds.

Evidence of the shift came to light whenaninternal memosurfaced in a newsletter, disclosing a 24.2% per-share bumplast yearover the prior year in anemployee dividend-- the largest increase since 1987.Vanguard did not dispute the report.

"If the rank and file knew how much these guys got paid while they were busting their butts ..."saysDaniel Wiener, whopublishes "The IndependentAdviser" newsletter for Vanguard Investors.

"With irate owners,it might be mutiny time."

But these days,Vanguard is on defense as well as offense because companies are stealing its playbook and even its culture and ethos, saysEric Balchunas, author of the just-released book, "The Bogle Effect."

The bookcharts how legendary investor John "Jack" Bogle upended Wall Street in 1975 with hisradical idea to make investors the actual owners of his new fund company.

For years, Vanguard's philosophy was to put "owners" of its low-cost funds first and reward them through profit-sharing.

But "alot of companies are acting Vanguardian," Balchunas says. "There's a lot of Vanguard in Schwab these days. Vanguard is now as much of a concept as a company."

Vanguard's response to rising competition has been to move in the opposite direction--upmarket. Among other things, it'sbeguncourting high-net-worth investors withprivate equity and active management. See: Vanguard Group's private equity retail push gets real.

"Certainly, Vanguard has realized that it needs the stimulus of outside ideas, particularly in emerging areas of opportunity, like direct indexing. In this sense, it's moving away from the homespun, middle America ethos," saysWill Trout, director of wealth management at Livonia, Mich., consultancy Javelin Strategy and Research, via email.

Vanguard has also done its first gimmicky promotional dealwith American Express to attract high volumes of mass-affluent investors. See:Vanguard, American Express INVEST deal hits a wall--of hard numbers--shattering its supposed value amid one glaring 'fine print' disclosure-- its a huge conflict of interest for Amex

The moves, however, have raised alarmamong long-time company watchers because they suggest Vanguard is selling short its owners to compete at a higher level with Wall Street firms.

"The executive team has put growth above performance. Certainly the deal with American Express is an asset-gathering deal and not in keeping with [Vanguard's] lowest-cost mantra,"says Weiner, via email.

To make matters worse,Vanguard is hiding key data -- like operatingexpenses tied to human talent -- fromshareholders, whichis probably counterproductive,Balchunas says.

"When you close off information, people think the worst."

Unlike shareholders in public companies -- or even most private nonprofits -- Vanguard shareholders are denied access to finances, including how, and by how much, staff and top executives are compensated.

Wiener says the company has also blown a hole in the much vaunted meaning of ownership.

"Vanguard is not, and has never been, a non-profit, though much of the language [used is] around 'operating at cost' [it is] exceedingly profitable.

"If I push up salaries or bonuses ... to astronomical levels [they are] still costs. Its all in how you parse the language.

"Is a $20 million bonus a cost? I kind of believe it is," says Wiener.

Vanguard's value proposition is anchored by the VanguardPartnership Plan, whichunderscores the value of investor-ownership. Instituted in1984, the planfurther aligns "our crews interests and our clients long-term success," saysspokeswoman, Amy Lash, via email.

"The Partnership Plan is based on the value created for clients over a rolling three-year period. The performance calculation shared with crew this year was for the three-year period ended Dec. 31, 2021," she adds.

"And its been a good three years for Vanguard, with assets up about 76% over that period -- the best rate since 1999 --the Partnership Plans dividend has increased 54%," Wiener explains.

The dividend increase, from roughly $352 to $437.56,primarilyalsoreflectsVanguard's ability to control costs relative to peers in the industry, Wiener adds.

"[AUM] growth, rather than fund performance, [is] a key factor determining the dividends size. The other factor ... is the "cost savings" accrued by comparing Vanguards average operating expense ratio to industry averages."

Vanguard caps most employee bonuses except those awarded to its top brass to a level calculated based on their job grade, tenure, and the percentage rise of the dividend, according to Wiener's research.

Usually paid out between April and June, Vanguard's partnership plan once paid tenured employees up to 30% of their salary as a bonus. Yet by 2010, the company restructured its partnership, and cut payout levels, according to the Philadelphia Inquirer.

In 2015, Vanguard reclassified 2,100 staff as hourly workers, removing them from its bonus scheme, according to the Philadelphia Inquirer newspaper.

"Howdoes Vanguard fund its partnership plan if not with profits? Well, then I guess [its] not a non-profit. Its a bit circular, its perception, andopacity around it," Wienersays.

Paying top talent

"While the nuances of the Partnership Plan arent public, the overall goals of encouraging asset growth and efficiency to produce cost savings are clearly in the best interests of shareholders," saysScott Smith, director of advice relationships at Boston, Mass. consultancy Cerulli Associates, via email.

"Dont let the perfect be the enemy of the good."

The big proof pointis that Vanguard manages about 25% of industry assets but collects about 5% of total revenues.

Cecile Munoz, founder and president of U.S. Executive Search, saysVanguard can not be expected to walk on eggshells when it compensatesto attract and retain talent.

"We all know they're not a non-profit, just like the rest of Wall Street ... [but] they can operate at cost and still pay their talent top, competitive compensation," she explains via email.

"It's right and logical for a meritocracy to [match] compensation in direct correlation to the responsibility, risk, and contribution of an individuals role."

Competitive pressure

Vanguard, as Munonotes, may have little choice but to pay out fat bonuses to remain competitive, given those available on Wall Street.

"It can't afford to lag on the compensation front, particularly as it seeks to open up to the outside world, both in terms of using outside technology and in cultural terms," says Trout.

"Executive compensation is driven by competitive pressures, from which Vanguard is not immune," he says.

Goldman Sachs paid CEO David Solomon $35 million last year, and JP Morgan paid CEO Jamie Dimon $34.5 million.

Jack Bogle would have earned at least $41 million were he still running Vanguardin 2022, Wienercalculates.

Vanguard emphasizes that paying staff more results in investors getting greater 'shareholder' benefits over time.

"Vanguard says it's owned by its shareholders yet provides zero disclosure on ... how much it pays its executives, [or] what its bonuses are based on," countersWiener,chairman of RIA Adviser Investments in Newton, Mass.

"Vanguard is the prototypical aircraft carrier, a change of course takes time, and its important that all initiatives focused on reinvention be coordinated," Trout explains. See: Vanguard makes mockery of 'digital' myth by reporting $1.3 trillion after its new mobile app's panned debut.

"It's not your grandfather's Vanguard, but it's still Vanguard," saysBalchunas.

Although Vanguard no longer shares details of its payout system, Wiener uses an old share count it provided for Jack Bogle to calculate an approximate number.

Link:

Vanguard may be shorting much vaunted 'owners' of its low-cost index funds as it shifts to Wall Street-style exec-comp tactics to thwart competitors...

Photo: Saul LoebAFP/Getty Images

By Oliver Camarena

WASHINGTON, D.C. Senate Majority Leader Chuck Schumer and Senate Democrats Wednesday failed to pass, as expected, the Womens Health Protection Act which would federally enshrine a womans right to get an abortion.

This comes in the week following the Supreme Court draft opinion leak that detailed the courts decision to overturn the monumental Roe V. Wade case.

The final vote count, which saw Vice President Kamala Harris presiding, ended in 49-51, leaving Democrats short of reaching the 60 vote threshold to override a Senate filibuster. Democrat Joe Manchins no vote meant the Dems couldnt even get a simple majority.

The draft opinion also sparked protests from pro-choice advocates around the country, including in the front of the homes of conservative justicesBrett Kavanaugh and Chief Justice John Roberts.

With the Supreme Court appearing to gear up to overturn Roe V. Wade and the Senate being unable to override a Republican filibuster on the issue, at least 26 states would quickly move to ban or severely restrict a womans access to abortions across the country.

However, even though the bill never made it past the filibuster, it forced all senators to disclose, on the record, where they personally stand on the issue of abortion rightsa now hot topic issue going into the midterms.

I ask my colleagues to think carefully about their choice later this week. No more running, no more hiding. The vote will shine light on every single one of us, said Schumer on the Senate floor last Monday.

Senate Minority leader Mitch McConnell also spoke on the issue, saying a national ban on abortion could be a possibility should Republicans take control of Congress following the midterm elections.

Schumer further went on to say that McConnells comments make it perfectly clear why the game here is not about states rights. The goal has always been a national ban on abortions altogether.

The White House has also voiced its support for Schumer and Senate Democrats in passing the Womens Health Protection Act, adding that the risk is serious that Republicans could nationally outlaw abortion following a Republican victory in the midterms.

Republican Governor of Arkansas and potential 2024 presidential candidate, Asa Hutchinson, pointed out the hypocrisy of a national ban on abortion stating that it would be inconsistent with long time Republican argument of states having the power to decide where they stand on abortion rights.

If you look at a constitutional or a national standard, that goes against that thrust of the states having prerogative, Said Hutchinson, chair of the National Governors Association. And secondly, I think theres some constitutional issues of a national standard as well as to what is the authority of the Constitution to enact that.

Some Senate Democrats are already capitalizing on the issue as fuel for their campaigns going into the midterms. Sen. Maggie Hassan, D-N.H., launched a digital ad campaign to link her Republican opponents to what she calls McConnells decade-long crusade to criminalize abortion.

Ultimately, I think this is going to push a lot of people to the polls this November that may have otherwise stayed home, said Sen. Chris Murphy, D-Conn, adding, (T)hey see that this fight is coming not just in the state legislatures, but in Washington as well.

Sen. Kirsten Gillibrand, D-NY, said, We need to make sure that every single voter understands that the Republican Party and Mitch McConnell (do) not believe that their daughters, that their mothers, that their sisters have rights to make fundamental life and death decisions.

While the House of Representatives has already voted to codify Roe into federal law, the bills failure to pass the Senate leaves it without a chance to become federally enshrined in the Constitution. It is, for now, a matter to be decided by the states.

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Senate Democrats Fail to Codify Abortion Rights; Don't Have Votes to Overcome Filibuster Dem Manchin Votes with GOP - The Peoples Vanguard of Davis

A student-run rocket team from the Vanguard School in Colorado Springs may be among the nation's best.

The team is competing for the American Rocketry Challenge national championship May 14 outside Washington D.C. The club has competed in the challenge every year since 2003 and it's their 11th year in the finals.

The team has to design, build and launch a model rocket that safely carries two raw eggs to a target altitude of 835 feet, with a target flight duration of 41 44 seconds.And the students have worked so hard: 2-4 hours after school each week since August; 4-5 hours, two Saturdays each month, since November.

Theyve learned rocket design, engineering, computer simulation, and even basic sewing for parachutes.

The clubs mentor is Steven Riegel. He says, Throughout the year, they've had tremendous attitudes and commitment to improving. Even on days when the test launches didn't go as well as hoped, they pulled together to sort out the problem, find a solution, and prepare for the next round."

The competition is the aerospace and defense industrys flagship program designed to encourage more students to pursue careers in STEM. Teams are competing for $100,000 in prize money, with the winning team going to the international finals in London; the top 25 teams get invites to NASAs Student Launch workshop.

Do you know a remarkable club, program, teacher or student at your school? Email us! SchoolBuzz@KRDO.com.

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The School Buzz: Vanguard rocketry team competing for national title - KRDO

When I was growing up, there werent many black celebrities who had their natural hair out, says Priya Ahluwalia. She felt that only Eurocentric ideals of beauty were promoted, and Ahluwalias own identity was somehow not regarded as valid.

Now part of a new vanguard of British designers shaking up the fashion industry, Ahluwalia frames her work around her British, Nigerian and Indian heritage, using her collections to explore and celebrate her diverse upbringing. For spring/summer 2022, she has examined the culture of black and brown hair.

Black hair is an amazing example of artistry, tradition and beauty, says Ahluwalia. With my spring/summer 2022 collection, I wanted to show the beauty of black hair, to flip the narrative, and progress multifaceted representation of Afro-Caribbean and South Asian culture and people in general, she says.

For spring/summer 2022, Priya Alhuwalia has examined the culture of black and brown hair. Photo: Alhuwalia

To accompany the new collection, Ahluwalia has made a short film called Parts of Me. Directed by Akinola Davies Jr, it is a story of family bonds, and showcases several styles of black and brown hair.

The aim is to normalise them in the US, for example, sporting certain traditional hair styles, including locs, cornrows, twists, braids, Bantu knots and Afros, is still considered legitimate grounds for non-promotion in some corporate jobs.

Last month, the US House of Representatives voted to pass the Crown (Creating a Respectful and Open World for Natural Hair) Act, a bill that seeks to ban race-based hair discrimination in employment. The Biden administration released a statement expressing support for the act, saying: The president believes that no person should be denied the ability to obtain a job, succeed in school or the workplace, secure housing, or otherwise exercise their rights based on a hair texture or hairstyle.

Speaking about natural, non-chemically treated hair, Ahluwalia says: It is often used as the basis of discrimination, and I think its important to amplify these conversations to show how special it is and how much respect it deserves.

Fusing the vibrant colours and patterning of Nigeria with the extraordinary handwork skills of India, Alhuwalia is creating a new lexicon for British menswear. Photo Alhuwalia

Since launching her namesake label in 2018, fresh from finishing a masters in menswear at the University of Westminster, Ahluwalia has been pushing the boundaries of what menswear can be. Fusing the vibrant colours and patterning of Nigeria with the extraordinary handwork skills of India, she is creating a new lexicon for British menswear.

Despite being such a young label, Ahluwalias list of achievements is already impressive. Only months after graduating, she picked up the 2019 H&M Design Award, which supports outstanding graduates.

In January 2019, she made her debut at Paris Fashion Week, with an autumn/winter menswear collection. That same season, she collaborated with Adidas Maker Lab and, a few months later, showed at Arise Fashion Week in Lagos, Nigeria, and was chosen by the British Fashion Councils Newgen initiative, in support of her spring/summer 2020 mens collection.

In November 2019, she launched a 10-piece capsule collection with Browns of London and by March 2020, had been included on the Forbes 30 under 30 European Arts and Culture list. In April, she was named as one of the joint winners of the LVMH Prize 2020, and was then hand-picked by Alessandro Michele at Gucci to contribute a short film to GucciFest, with her project Joy launching in November.

The designer has also moved into womenswear. Photo: Alhuwalia

I think my heritage, narrative and perspective on design offers something new to the industry. I am really interested in the clothes people wear in India, Nigeria and England, and I like the nuances between them all. While they have similarities, each country has its own vibe, she says.

For spring/summer, Ahluwalia has created a co-ed collection with a strong 1970s undertone. Retro tracksuits are reimagined and are now patchworked from circular pieces, to create curved lines that wrap around the body. Knitwear also arrives as patchworked slip dresses, and even denim seems to be cut on the round. Tops and jackets are patterned to mimic hair braids and dresses are emblazoned with bold patterns, sometimes with added embroidery.

Most importantly, each piece is different to the next, something that is vital for Ahluwalia. In both the countries where I am from India and Nigeria you have a local tailor who tailors your outfit, whether its for a party or for life or whatever, and I think what is interesting about that is that everyone can be quite unique. My brand is giving that to people.

With the patchwork pieces I create, for example, none of them are the same. I am speaking to that need for individuality and having something that is unique, so you are more likely to treasure it.

Priya Ahluwalia was the 2021 recipient of theThe Queen Elizabeth II Award for British Design. Courtesy British Fashion Council

Part of that approach is the companys exclusive use of deadstock surplus fabric left over from previous seasons by fashion manufacturers. We work with deadstock materials to repurpose the old into new, exciting clothing, which not only finds new life for these materials, but also eliminates waste.

For Ahluwalia, this approach is the only credible route to take. I believe that I can be responsible with business, but still create desirable clothes that are fun and interesting to wear.

This focus on sustainability has already earned the label The Queen Elizabeth II Award for British Design, but it is more than a token gesture, Ahluwalia says. I have done a lot of research and looked into the recycling industry, so I have seen the reality of what we as humans are doing to destroy the planet. Once you have seen something like that, there isnt any way you can design without that in mind.

This commitment to repurposing deadstock opened up new possibilities for Ahluwalia last year. This included an expansion into womenswear, via a collaboration with Danish brand Ganni, on a capsule collection made from leftover fabrics. I had always known I wanted to go into womenswear, and ever since my first show, lots of people had been asking me about it. Having the support of the Ganni collaboration allowed me to do so.

Now a fixture of the brand, womenswear is instinctual for the designer. I love to design for women I actually insert myself into the design process a lot. Thinking about what my friends and I wear, and what we would want to wear to certain occasions, for example, on a date or to the club.

Ahluwalia presented its autumn/winter 2022 fashion show on the second day of London Fashion Week. AFP

Last year, Ahluwalia also won the British Fashion Council / GQ Menswear Designer Fund, which came with 150,000 ($197,960) of funding, and the designer was invited to rework Mulberrys classic Portobello tote for the brands 50th anniversary.

When Mulberry contacted her about the project, Ahluwalia jumped at the chance. Mulberry is such an iconic brand, one that I have memories of from my childhood, ever since I used to borrow my mums bag, so it was an opportunity to collaborate with a brand that is very meaningful to me.

True to form, the new bags are all made from repurposed leather scraps from Mulberrys factory. While such thinking is second nature for the designer, it is still something of a revelation for the wider industry.

As she helps redraw how fashion operates, Ahluwalia could be forgiven for crowing about her impact, yet she remains remarkable grounded. There have been so many highlights and Im so lucky to have been on such an extraordinary journey.

Updated: May 04, 2022, 1:20 PM

Excerpt from:

The Anglo-Indian-Nigerian designer at the vanguard of British fashion - The National

By Robert J. Hansen

Woodland, CA The Sacramento National Womens Political Caucus, Service Employees International Union (SEIU) Local 2015, Los Rios College Federation of Teachers, Harry S Truman Democratic Club, and Woodland Councilmember Vicky Fernandez have all recently officially said they support Rodriguezs campaign for District Attorney.

I am humbled to be endorsed by groups who represent our public servants and tirelessly fight for our community. I look forward to continuing these efforts as the next Yolo County District Attorney by prioritizing the safety of all residents, leading with integrity and transparency, and protecting the rights of workers, women, and vulnerable populations, said Rodriguez.

Adopt a Democrat, a National PAC dedicated to getting Democrats elected, said the race for Yolo DA is heating up and that incumbent Jeff Reisigs policies are regressive to criminal justice reform.

DA races are heating up with right-wing district attorneys trying everything to hold onto power, Adopt a Dem said via Twitter. In California, there are multiple races including Dem Endorsed Cynthia Rodriguez vs Independent far-right incumbent Jeff Reisig and his regressive policies.

Several current and former elected Yolo leaders like Winters Councilmembers Victoria Fernandez, Jesse Loren, and Pierre Nu, and former Woodland City Councilmember and Yuba Community College District Trustee Xavier Tafoya, have endorsed Rodriguezs campaign.

Also supporting Rodriguez are former Davis Mayors Ann Evans and Michael Corbett.

The Davis Democratic Party broke a tradition of not endorsing local campaigns with its support for Rodriguez.

Davis Democratic Club President Stephen Souza could not be reached for comment.

This breaks with years of DDC staying out of local races, to focus on elections their members were united on. Im glad their members came together to support my campaign, Rodriguez said via Twitter.

Smart Justice California, Yolo People Power, Indivisible Yolo, and the Labor Council for Latin American Advancement, Sacramento Chapter are also supporting Rodriguez.

Cynthia Rodriguez is really racking up the endorsements, Indivisible Yolo said. Its no wonder, shes the right woman for Yolo DA.

A proud daughter of farmworkers, Cynthia Rodriguez understands the importance of making sure the law protects everyone in our community. Cynthia is a powerful advocate for Yolo Countys rural Latino communities and will fight to uphold our labor laws and prosecute wage theft, Antonio De Loera, community advocate said.

Rodriguezs endorsements have come with significant campaign contributionsher campaign has raised $8,000 in the last week alone.

Her campaign has spent about $70,000 so far in this cycle with many of the campaigns contributions coming from individuals and local organizations.

Citizens for Progressive West Sacramento is the only PAC supporting Rodriguez which has spent around $10,000 on campaign signs, radio time, and other advertising through newspapers.

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Candidate for Yolo County District Attorney Cynthia Rodriguez Announced Her Growing List of Endorsements in a Press Release on Thursday - The Peoples...

By David M. GreenwaldExecutive Editor

Smart Cities Dive has a report this week, Fleeing superstar cities, tech workers are moving to mid-size and smaller cities, causing housing, traffic concerns. The report notes, After many tech workers relocated to work remotely during the pandemic, smaller cities are now grappling with rising housing prices, traffic and homelessness.

Sound familiar? Those are the exact issues we have been talking about for the last few years. Although I would argue that it preceded the pandemic and that if done correctly, it could be a positive for our community rather than a negative.

As noted in a report from Greater Sacramento Economic Council and Newmark this week, the Sacramento Region is one of the fastest growing in California and one of the most diverse in the country. Just 88 miles from the Bay Area, the regions talent pool is unmatched and investors are taking note. Over $13 billion was invested in Greater Sacramento over the last five years with roughly $4 billion invested just in 2021.

Indeed, With all this activity, business relocation and expansion projects in the region jumped 19% in the past year alone.

Overall the White Paper found the Greater Sacramento region is on a major growth trajectory as investment, population increase and expanding opportunities for talent and education go into overdrive.

What the report from GSEC shows is that this is a huge opportunity for the Sacramento Region and Davis, home of UC Davis to bring in high paying tech jobs bringing desperately needed revenue and technology transfer from UC Davis to Davis and the region.

What the Smart Cities Dive article shows is that what is happening in the Sacramento Region is part of a national trend I think accelerated rather than caused by the pandemic.

The article notes, A sizable chunk of people throughout the U.S. who have disconnected their jobs from their physical locations during the pandemic are moving away from large metro areas to mid-size and smaller cities.

Once you have people disconnecting their jobs from their locations, it gives them a lot of flexibility in where they live, said Peter Haslag, assistant professor of finance at Vanderbilt University.

Experts like Mark Muro, a senior fellow with the Brookings Institute, note that the superstar geography dominated by huge coastal metro areas is not going away,

But as we have seen there is at least enough of an exodus away from the Bay Area and Silicon Valley to start changing the dynamics.

The article notes, Between 2010 and 2019, the tech sector grew by 47% and added 1.2 million jobs, with about half the job creation occurring in eight areas: San Francisco, San Jose, California; Austin, Texas, Boston; Seattle, Los Angeles, New York City and the Washington, D.C area.

Brookings also noted cities like Atlanta, Dallas and Kansas City also added tech jobs at the rate of three percent or more.

Thats now shifted, according to Brookings, during the pandemic.

What they found is that tech jobs slowed in those core areas but accelerated in places like Philadelphia, Minneapolis, Minnesota, Cincinnati, Ohio, and Nashville, Tennessee.

Or how about the Sacramento region?

The report from GSEC noted that Sacramento Region is ideally situated close enough to the Bay Area and home of a highly educated and diverse workforce, but away from the impacted Bay Area housing market.

Greater Sacramento has seen incredible market momentum over the past five years, said GSEC President & CEO Barry Broome. Theres been a real shift in how executives across the country and world view our region. These leaders recognize that Greater Sacramento is the place to do business in California.

While areas of California and the nation have struggled, Greater Sacramentos regional economy showed incredible resilience during and after the pandemic as it continued to attract investments and make progress on significant projects

Folsoms PowerSchool, for example, saw its valuation rise to $3.5 billion following its IPO in 2021. UC Davis broke ground on Aggie Square, a $1.1 billion, 1.2 million-square-foot life science research park at its Sacramento campus, developed by Wexford Science & Technology.

In a release, GSEC noted, To spotlight this growth and further entice others to the region, GSEC is launching the Capital Momentum campaign, an initiative that will highlight groundbreaking developments and opportunities within Californias capital region. The campaign will be geared toward decision-makers and national site selectors for major companies.

Unlike other areas of California the Greater Sacramento Region has grown over the past five years and is expected to grow even more over the next five.

Peter Haslog noted that smaller metro areas are seeing population growth. He added, those moving to these areas are likely to remain there long term, as many are mid-career and raising families.

All of this lines up for places like Davis to take advantage.

In the GSEC release they noted a huge and growing innovation infrastructure, centered around the life sciences and places like Bayer CoLaborator, AgStart and Inventopia.

While the pandemic has upended things like traditional offices, GSEC found that even here, office market remained stable over the last few years, in spite of the COVID-19 pandemic. The vacancy rate was 12.1% in the first quarter of 2022. Over the past two years, the office vacancy rate fluctuated between 10.1% to 12.1% but the quarterly vacancy changes were minimal.

In addition, industrial market not only survived the pandemic but thrived during it. Among the various sectors of commercial real estate, industrial real estate is uniquely positioned for success in the wake of the pandemic.

The time is ripe for Davis and the Sacramento Region to take advantage of these opportunities.

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Commentary: Trends Are Pushing Tech, Housing Toward Sacramento Region - The Peoples Vanguard of Davis

THEUK Government has announced 2 billion ofinvestment into a set of newnuclear submarines, which will be based near Glasgow.

The investment is part of the Dreadnought programme whichwill replace the four submarines that currently provide the UKs Trident nuclear missile continuous-at-sea deterrent.

Four new UK built submarines will be introduced in the 2030s and willboasta lifespan of about 30 years -with the Ministry of Defence (MoD) saying they will be based near Glasgow "for as long as the international security situation makes it necessary.

According to the MoD, the Dreadnoughtvesselswill be the largest class of submarines ever built for the Royal Navy and one of the most complex machines ever built.

Jeremy Quin, Defence Procurement Minister, said: The Dreadnought Class will be crucial to maintaining and safeguarding our national security, with the nuclear deterrent protecting every UK citizen from the most extreme threats, every minute of every day.

READ MORE:Queen to miss state opening of Parliament

Th2billion is specifically for the first of four submarines which will move from the Barrow-in-Furness shipyard in Cumbria to the HM Naval Base Clyde (Faslane).

However, The MoD has said the contract is only an initial investment witha planned overall total of nearly 10 billion for the whole third phase of delivery.

An additional 160million contract has also been agreed upon with Raytheon UK to support training for crew members stationed in Glasgow.

So far, the design, build and deployment of the Dreadnaught programme has supported 30,000 jobs across the UK for two previous development stages, with thousands of these jobs in Scotland.

Commenting on the project's importance, Admiral Sir Ben Key, First Sea Lord, said: This investment will enable the transition from the Vanguard to Dreadnought-class submarines an enormous challenge, and one we in the Royal Navy willingly accept.

We have provided over fifty years of unbroken Continuous At Sea Deterrence and we will ensure that the Royal Navy provides the ultimate guarantee of security for the United Kingdom for the next five decades and beyond.

The introduction of the HMS Dreadnaughts is intended to maintain the Continuous at Sea Deterrence (CASD) - the UK military's longest-running operation, with at least one nuclear-armed submarine at sea since 1969.

The 10billion investment is part of a package of contracts awarded by the UK Government to BAE Systems and Rolls-Royce, who have been involved throughout the development process for the submarines.

Steve Timms, BAE Systems Submarines managing director, said: Todays funding announcement allows us to maintain the Dreadnought programmes progress and continue investing in the infrastructure and skills needed to deliver these highly complex submarines to the Royal Navy.

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UK Government announces 2 billion investment into nuclear submarines - The National

NEW YORK Last summer, Julio Carmona started the process of weaning himself off a fully remote work schedule by showing up to the office once a week.

The new hybrid schedule at his job at a state agency in Stratford, Connecticut, still enabled him to spend time cooking dinner for his family and taking his teenage daughter to basketball.

But in the next few months, hes facing the likelihood of more mandatory days in the office. And thats creating stress for the father of three.

Carmona, 37, whose father died from COVD-19 last year, worries about contracting the virus but he also ticks off a list of other anxieties: increased costs for lunch and gas, day care costs for his newborn baby, and his struggle to maintain a healthy work-life balance.

Working from home has been a lot less stressful when it comes to work-life balance, said Carmona, who works in finance at Connecticuts Department of Children and Families. You are more productive because there are a lot less distractions.

As more companies mandate a return to the office, workers must readjust to pre-pandemic rituals like long commutes, juggling child care and physically interacting with colleagues. But such routines have become more difficult two years later. Spending more time with your colleagues could increase exposure to the coronavirus, for example, while inflation has increased costs for lunch and commuting.

Among workers who were remote and have gone back at least one day a week in-person, more say things in general have gotten better than worse and that theyve been more productive rather than less, an April poll from The Associated Press-NORC Center for Public Affairs Research shows. But the level of stress for these workers is elevated.

Overall, among employed adults, the April AP-NORC poll shows 16% say they work remotely, 13% work both remotely and in-person and 72% say they work only in-person.

Thirty-nine percent of employees who had worked at home but have returned to the office say the way things are going generally has gotten better since returning in-person at the workplace, while 23% say things have gotten worse; 38% say things have stayed the same. Forty-five percent say the amount of work getting done has improved, while 18% say its worsened.

But 41% of returned workers say the amount of stress they experience has worsened; 22% say its gotten better and 37% say it hasnt changed.

Even workers who have been in person throughout the pandemic are more negative than positive about the way the pandemic has impacted their work lives. Thirty-five percent say the way things are going in general has gotten worse, while 20% say its gotten better. Fifty percent say their stress has worsened, while just 11% say its gotten better; 39% say theres no difference.

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At least half of in-person workers say balancing responsibilities, potential COVID exposure at work, their commute and social interaction are sources of stress. But fewer than a third call these major sources of stress.

People with children were more likely to report their return was having an adverse effect, some of it stemming from concerns about keeping their families safe from COVID and maintaining a better work-life balance. Most said it could help alleviate stress if their employer provided more flexible work options and workplace safety precautions from the virus. But for some workers, a physical return in any form will be hard to navigate.

A lot of people have gotten accustomed to working from home. Its been two years, said Jessica Edwards, national director of strategic alliances and development at the National Alliance on Mental Illness, a U.S.-based advocacy group. For companies, its all about prioritizing mental health and being communicative about it. They should not be afraid of asking their employees how are they really doing.

Companies like Vanguard are now expanding virtual wellness workshops that started in the early days of the pandemic or before. Theyre also expanding benefits to include meditation apps and virtual therapy. Meanwhile, Target, which hasnt set a mandatory return, is giving teams the flexibility of adjusting meeting times to earlier or later in the day to accommodate employees schedules.

A lot is at stake. Estimates show that untreated mental illness may cost companies up to $300 billion annually, largely due to impacts on productivity, absenteeism, and increases in medical and disability expenses, according to the National Alliance on Mental Illness.

Russ Glass, CEO of online mental health and wellbeing platform Headspace Health, said he has seen a fourfold spike in the use of behavioral health coaching and a fivefold spike in clinical services like therapy and psychiatric help during the pandemic compared to pre-pandemic days. With apps like Ginger and Headspace, the company serves more than 100 million people and 3,500 companies. Among the top worries: anxiety over contracting COVID-19, and struggles with work-life balance.

We havent seen it abate. That level of care has just stayed high, Glass said.

The constant wave of new virus surges hasnt helped.

Francine Yoon, a 24-year-old food scientist at Ajinomoto Health and Nutrition North America, in Itasca, Illinois, has been working mostly in person since the pandemic, including at her current job that she started last fall. Yoon said her company has helped to ease anxiety by doing things like creating huddle rooms and empty offices to create more distance for those experiencing any form of anxiety about being in close proximity to colleagues.

But moving in last year with her older parents, both in their early 60s, has led to some heightened level of anxiety because shes worried about passing on the virus to them. She said every surge of new cases creates some anxiety.

When cases are low, I feel comfortable and confident that I am OK and that I will be OK, she said. When surges occur, I cant help but become cautious.

As for Carmona, hes trying to lower his stress and is considering participating in his offices online meditation sessions. Hes also thinking of carpooling to reduce gas costs.

I am one of those people that take it day by day, he said. You have to try to keep your stress level balanced because you will run your brain into the ground thinking about things that could go haywire.

___

The AP-NORC poll of 1,085 adults was conducted April 14-18 using a sample drawn from NORCs probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 3.9 percentage points.

By ANNE DINNOCENZIO AP Business Writer

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Workers grapple with new stresses as they return to office - Tampa Bay Times

Almost six months after the death of its founder Virgil Abloh, Off-White has named Ib Kamara as its new image and art director.

In his new role, Kamara will now guide the vision and direction of the label, following Ablohs premature death in November 2021.

Kamara styled the January 2022 Virgil Abloh menswear collection for Louis Vuitton. Photo: Louis Vuitton

Born in war-torn Sierra Leone in 1990, Ibrahim Kamara moved to Gambia to escape the violence, before relocating to London at age 11. After a brief stint studying medicine at his parents' request, he switched his path, studying fashion at Westminster Kingsway College, and then Central Saint Martins.

In 2016, Kamara worked on 2026, a project that examined Black African masculinity, alongside the photographer Kristin-Lee Moolman. For the project, the pair street-cast male models in Soweto, South Africa, dressing them in clothes Kamara had found in dumpsters and upcycled into new outfits.

As part of the show Utopian Voices Here and Now, at Somerset House, it brought Kamara into contact with influential people, including Robbie Spencer, stylist and then-creative director of the magazine Dazed, who gave him his first fashion editorial.

The H&M Circular Design collection campaign, styled by Ib Kamara and photographed by Rafael Pavarotti. Photo: H&M

With a distinct visual language, Kamaras work challenges the norms of masculinity and menswear, often blurring lines with elements lifted from pan-African cultures. Along with Edward Enninful, the stylist who was appointed as editor-in-chief of British Vogue in 2017, Kamara is part of the vanguard of talented black men reshaping and reframing gender boundaries within fashion. In 2017, he worked with Stella McCartney on a series of collaborations called #StellaBy, which were shot in Nigeria by Nadine Ijewere.

In June 2018, he was appointed fashion editor at large for i-D magazine, and a little more than a year later, he was made senior fashion editor at large, while in 2019 he worked with Rihanna to launch her fashion brand, Fenty.

Kamara has also worked for the likes of Dior, Burberry and even Beyonce, and was a favourite of Virgil Abloh, who used the stylist across both of the labels he controlled.

In January 2021, Kamara was named editor-in-chief for Dazed magazine, and later that year, worked with H&M as creative advisor and stylist for its Circular Design collection. In November 2021, he received the Isabella Blow Award from the British Fashion Council for is contribution to the industry.

Kamara has taken to social media to express his gratitude for his new role at the label Abloh founded in 2012.

Virgil will forever be with us. With me. He changed the world and left an indelible mark on anyone who encountered him and beyond," Kamara wrote.

"Generous with his time, mind and creativity he saw everyone and created with all humans in mind. I am honoured to further link my ties to Off-White as their Art & Image Director and be a part of the team that will tell the rest of the story Virgil started writing for us all.

A 'Dazed' cover by Ib Kamara, featuring Harry Styles. Photo: Ib Kamara/Instagram

First launched as Pyrex Vision in Milan in 2012, Abloh's label was subversive and notable for being his first venture without his long time mentor, Kanye West. The name change came about to better reflect what Abloh described as "the grey area between black and white as the colour off-white".

Since his death at 41, rumours have been circulating about who would take over Ablohs role as menswear designer at the French house of Louis Vuitton and the creative direction of Off-White.

Scroll through the gallery below to see more of Virgil Abloh

American designer Virgil Abloh arrives at his exhibition at Doha Fire Station in Qatar's capital on November 4. The designer has died from cancer aged 41. AFP

Updated: May 09, 2022, 6:44 AM

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Who is Ib Kamara, the new Off-White art director to fill Virgil Abloh's shoes? - The National

VSN(admin) PublishedThursday, April 14, 2022 - 05:33 PM

WEST DES MOINES, Iowa --The Vanguard men's volleyball team knew there would be no Golden State Athletic Conference teams going to the semifinal round at the 2022 NAIA National Tournament, as the team watched OUAZ get upset before they took the court. But the Lions avenged the opening game loss to Campbellsville by beatingWilliam Penn in four sets 26-24 (WPU), 25-18, 25-18, and 25-17. Vanguard will end the year on a positive note and a record of 17-7, while WPU will finish 23-9 overall.

What Happened? Set 1:The Lions would get the first point off an attack error and then grabbed the next six of seven points to jump ahead 7-1 with kills fromCody Watts(JR/Clovis, CA) andKyle Anema(SR/La Mirada, CA). The Statesmen called a timeout and picked up a few points out of the gate to cut the lead in half to 8-4 but a kill fromMatthew Roussin(SR/Anaheim Hills, CA) and some mistakes by WPU put Vanguard ahead 11-4. William Penn would come back some as the first set moved along, with the squads exchanging some service aces and errors, but VU remained ahead 16-12.

The Statesmen would not go away easily in the first though, as a late 3-0 run closed down the gap to 22-20 in favor of Vanguard. WPU got the next point out atimeout and each team got one more. A timely slam from Roussin put the Lions on the brink of winning set one 24-23 but William Penn flipped the script with two-straight points to hold the advantage. Vanguard called its final timeout but an ace gave the Statesmen set one 26-24. VU hit .346 (14 K 5 E) in the period while WPU hit .318 (12 K 5 E).

Set 2: The second set was back and forth from the start, with William Penn claiming the first point. Roussin got a kill to make it 1-1 and both teams walked the score up from there. VU had a slim lead a couple of times but the Statesmen would come back, with the game eventually tied at nine-all. Roussin then destroyed two balls in a row to put the Blue and Gold ahead 11-9. With WPU making some errors, akill and two aces from Watts increased the lead to 15-11.

William Penn made some more mistakes, pushingVU to 20 points in short order. Sensing a quick end to the set, Anema threw down two kills and an ace toput the Lions ahead 23-16. The Statesmen then made two points in a row but another Anema kill and an attack error from WPU gave the Lions the second frame 25-18. The Lions hit .310 (13 K 4 E) and the Statesmen hit .259 (12 K 5 E).

Set 3: Vanguard grabbed the first two points of the second before the Statesmen got their first kill. From there though, WPU had the better of the play, working out a 10-5 lead. But Watts had a kill and a block and a big bash byChristian Nowtash(SR/Vista, CA) brought the deficit down to 13-10. An ace from Roussin, followed by an attack error, made it a one-point gap at 13-12, forcing William Penn to call a timeout. Anema nailed a kill shot from the back row out of the pause and while the Statesmen got a couple of points, VU pulled away. Anema and Watts threw down kills and an ace from #9 made William Penn call a timeout, with the Blue and Gold leading 20-17.

The Statesmen got one more point in the period but the Lions nailed the next five points to take set three 25-18, with the final tally coming on a net violation by WPU. Vanguard hit .241 (13 K 6E) while WPU hit .036 (8 K 7 E).

Set 4: The Lions picked up right where they left off in the third, running off a 6-1 run to start the set. Kills from Roussin and Watts, combined with some errors by the Statesmen allowed the hot start for Vanguard in the frame. That was thenfollowed by an ace fromBryce Thompson(SR/Los Alamitos, CA), pushing the score to 7-1. William Penn called a timeout and was able to come back some, closing the distance between the two teams to four points. However, Vanguard continued to attack, with Roussin and Anema getting kills to push the score to 15-10.

The Blue and Gold remained dominant for the remainder of the fourth, as they ran off into the sunset.Filippo Meoni(SO/Macerata, Italy) and Anema got the final few kills as Vanguard took set four 25-17. VU hit a blistering .455 (14 K 4 E) in the fourth, while William Penn hit .087 (8 K 6 E).

For the day, the Lions hit .330, with 54 kills and 19 errors. WPU hit .170, with 40 kills and 23 errors. The Lions had an edge in assists (53-40), aces (8-5), and digs (32-26). Each team ended up with six total blocks.

Anema led the team with 19 kills, hitting .324 for the match and tallying six digs. Roussin had a beastly night, with 17 kills and four errors for a .448 attack percentage. Watts had nine kills and two errorsand tied Thompson with three total blocks. Thompson had 46 assists on the night and seven digs.Cameron Way(SR/Dana Point, CA) led the squad with nine digs.

What was Said?"This final match of our season showed our competitive toughness," said Head CoachBrad Rostratter. "It also showed we have guys that love to play volleyball. I am so proud of the season and the accomplishments from this season."

Vanguard UniversityWilliam Penn University Men's Volleyball Golden State Athletic ConferenceHeart of America Athletic Conference Game Results

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Vanguard Lions Defeat Statesmen To End The Year - Victory Sports Network