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Category Archives: Progress

Progress Announces Winners of the Progress Sitefinity 2016 Website of the Year Awards – Yahoo Finance

Posted: February 28, 2017 at 6:07 am

BEDFORD, Mass.--(BUSINESS WIRE)--

Progress (PRGS) today announced winners of its annual ProgressSitefinity Website of the Year awards, which celebrate innovation and best-in-class websites developed using the Progress Sitefinity Content Management System (CMS). Since its inception in 2011, the Website of the Year awards have been recognizing websites powered by the Progress Sitefinity application for creativity, design, user experience, functionality and overall website presentation.

This year, 57 websites developed using the Sitefinity platform were recognized across 19 categories: Consumer Goods, Sports & Entertainment, Banking, Insurance, Healthcare, Manufacturing, Energy & Utilities, Transportation, Education, Construction, Services, Tourism & Hospitality, Food & Beverages, Associations, Events, Ecommerce, Multisite, Intranet and Graphic Design.

The 2016 Website of the Year winners were selected in two phases. First, an internal Progress jury shortlisted the three best websites developed using the Progress Sitefinity application in the 19 designated categories. After narrowing the field, voting was opened up to the community at large via email and social media, and the finalists with the highest number of votes were appointed the winners. With more than 7,400 votes cast, the results are as follows:

Congratulations to the winners of this years Website of the Year awards for their incredible achievements, said Anton Hristov, Director Product Marketing for Sitefinity, Progress. While thousands of organizations worldwide rely on the Sitefinity platform to personalize and optimize the customer experience across websites and devices, these awards honor the most creative and innovative organizations that deliver differentiated experiences and set the bar in their respective industries.

More information about the contest and the winners is available on theWebsite of the Year page.

Additional Resources

About Progress Progress(PRGS) is a global leaderin application development, empowering enterprises to build mission-critical business applications to succeed in an evolving business environment.With offerings spanning web, mobile and data for on-premise and cloud environments, Progress powers businesses worldwide, promoting success one application at a time. Learn aboutProgress atwww.progress.com or 1-781-280-4000.

Progress and Sitefinity are trademarks or registered trademarks of Progress Software Corporation or one of its subsidiaries or affiliates in the US and other countries. Any other trademarks contained herein are the property of their respective owners.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170228005541/en/

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Trump Speech: Republican Agenda in Congress Makes Slower Progress Than Promised – NBCNews.com

Posted: at 6:07 am

Congressional Republicans came to town with an ambitious agenda and high expectations. But as President Donald Trump prepares to deliver his first joint address to the House and Senate, that agenda has not moved as quickly as members or Trump anticipated.

The realities of governing, coupled with challenges brought on by the Trump administration, have thwarted an aggressive to-do list that focused on reversing many of the previous administration's actions.

Trump will take the podium with few legislative accomplishments. However, he is expected to tout his first month in office and promote his goals for the next year in what is expected to be a broad speech full of ideas but short on specifics.

Here's a look at where the Republican agenda stands in Congress:

With a Republican in the White House, the GOP-controlled congress was ambitious in a quick timeline to pass a repeal bill after six years of voting to do just that. But the process was dramatically slowed as some members expressed nervousness about repealing a bill without a replacement and disagreements emerged among Republicans about what a replacement should look like and how to pay for it. Now nearly two months into the session, Congress has yet to present a bill. A draft bill was leaked last week but Republican leaders caution that a new version could emerge. House Speaker Paul Ryan's latest timeline is the presentation of a bill before the full House the first full week of March - a date that is quickly approaching.

Republicans' next big agenda item is tax reform, but tensions have emerged early in the process between each body of Congress and the White House. Central to Speaker Ryan's corporate tax reform plan is something called the border adjustment tax, which taxes any product of good or part imported into the United States. Trump has signaled hesitation on the idea, calling it "too complicated," and Senate Republicans have no interest in what many say would make products more expensive for American consumers. Some have even said it would cause a trade war. The original goal for tax reform was late spring but a more likely timeline appears to be July, before the month-long August recess.

Reversing some of President Barack Obama's regulations is perhaps the biggest accomplishment for Republicans so far. Trump has already signed three measures, including one that rolls back environmental protections. The House passed additional measures that now have to be taken up by the Senate, including one that reverses the ban on allowing mentally ill people from purchasing firearms.

What President Trump wants to achieve

One of Trump's biggest priorities is infrastructure. Republicans in Congress, however, are less eager to spend a proposed trillion dollars on repairing the nation's roads and bridges. Congress hasn't addressed it and with little buy in from Congress, it could quickly be put on the back burner.

Congress is expecting an emergency funding bill this spring to begin funding Trump's wall along the Mexican border, which is expected to cost billions of dollars. Construction won't begin until the funding bill is received.

Because of Democrats' ability to slow-walk the confirmation process, Trump's cabinet is not fully in place. A handful of positions remain open and the nominee for Secretary of Labor, Andy Puzder, withdrew his name after ongoing scrutiny and concerns raised by Republicans. Because the confirmation process has been so time-consuming, the Senate has done little legislating other than putting Trump's cabinet in place.

Supreme Court nominee Neil Gorsuch is on his way to hold courtesy meetings with all the members of the Senate but he has yet to have his confirmation hearings, which are scheduled for March 20.

Allegations of Russian interference in the U.S. election and the resignation of former National Security Adviser Michael Flynn after questions about the content of phone calls with a Russian official has forced Congress to take up investigating the developments. It is an investigation that has expanded and is being looked at by at least five committees. While committees can focus on multiple issues at a time, it is using valuable resources and time and a constant story that Republicans are asked about when they'd rather be focusing their news cycle on their legislative agenda.

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NCC faces deadline for progress from accrediting agency | Newsday – Newsday

Posted: at 6:07 am

Nassau Community College faces scrutiny and judgment this week when its independent academic accreditors meet and are expected to determine whether the schools officials have made enough progress to secure the institutions future.

The Middle States Commission on Higher Education is scheduled to take action on Thursday, nearly one year after a review team placed NCC on probation for failing to show compliance with seven of 14 quality benchmarks needed to keep the college in good standing.

NCC is the largest single-campus community college in the State University of New York system. Loss of accreditation would render its 20,000 students ineligible for federal and state financial aid and hamper their employment efforts. The college would not be able to exist without its accreditation, officials have said.

Addressing the accreditation problem has taken top priority at the school, which is funded by county and state tax dollars as well as student tuition. The notice that Middle States had placed the college on warning last March raised such alarm that it defined the course of the colleges yearslong and sometimes controversial presidential search. NCCs Board of Trustees and SUNY found a new president in W. Hubert Keen, a seasoned administrator, to remedy the accreditation woes and chart the colleges future.

We will reach full compliance by the end of the fall semester 2018, Keen said in an interview last week, noting that Middle States gives institutions up to two years to correct areas of noncompliance. It has been a very large-scale effort involving everyone on campus. . . . However, what I need to point out and this is very important: Yes, in the short term we must comply and remove the probationary status, but we are setting the stage for the long-term future of the college. And that means that we need to build in solid administrative structures that will serve the college well as it goes into the future beyond the restoration of all of the standards.

Keen, 72, had been president of Farmingdale State College since 2007, and in June 2015 had announced that he planned to step down from that post at the end of the 2015-16 academic year. His selection to lead NCC came less than two months after Middle States put the school on probation.

He was endorsed by SUNY Chancellor Nancy L. Zimpher and the SUNY Board of Trustees, which holds final approval over any president installed at any one of the systems 64 campuses. With a salary of $225,000, Keen began on Aug. 1 and is NCCs first permanent president since Donald Astrab, who left in 2012 after two votes of no confidence from the colleges Academic Senate.

Among Keens first moves was to sign a separation agreement with Kenneth Saunders, a longtime NCC administrator who had been acting president of the school and a two-time finalist in its presidential searches.

Next, he supported more procedural and ethics training for the NCC Board of Trustees, a 10-member governing board with five voting members appointed by the county and four by the state, plus one student trustee.

In addition, Keen created working committees with representation from all areas of the campus faculty, administration and staff, he said. A new strategic plan for the school also is in the works, Keen said.

Leadership really does matter. SUNY worked really hard to make sure the campus was able to secure a good president, said Johanna Duncan-Poitier, SUNYs senior vice chancellor for community colleges and the education pipeline.

Duncan-Poitier has attended NCC board meetings and has offered the advice and expertise available from SUNY to reverse the Middle States probation. She was present in November when officials from Middle States came to the school for a site visit and said she speaks with Keen weekly to offer support.

The situation at Nassau was really unprecedented. This was unusual because of the number of standards that were not met. But I must say even though theres a lot to be done that they are addressing all of these responsibly and with great rigor, said Duncan-Poitier, who noted NCC is a very big campus and one that is very important to SUNY.

Several faculty leaders, who declined to be quoted because of a new NCC policy on speaking with the media, said they believe Keen has helped bring together the various stakeholders within the college.

Board Chairman Jorge Gardyn said trustees are united in the effort to support Keen and to make the changes necessary to support the mandates provided by Middle States.

The addition of Dr. Keen to the administration at Nassau Community College has been a smooth transition and provided the evolutionary changes to bring together all of the groups on campus the full-time faculty, adjunct faculty and staff with a united vision for the colleges future, Gardyn said.

Reviewers from Middle States, after a three-day visit last March, said NCC needed to hire a permanent president, prevent political intrusion, raise student enrollment and graduation rates and rebuild trust among its constituents.

For years, the college has struggled with allegations of political patronage, a lack of transparency and a vocal faculty leadership that has historically sparred with the administration on the educational and budgetary priorities of the institution.

One major deficiency that Middle States reviewers found was under the standard labeled Integrity. Failing to comply with that standard could mean the college may be called upon to show cause as to why it should not immediately lose its accreditation, according to the Middle States report adopted June 23.

That report pointed to political influences at the college and potential conflicts of interest in regard to the hiring of Kate Murray, the former Town of Hempstead supervisor who began work there Jan. 1, 2016, in a media and governmental relations job. Trustees voted in December 2015 to hire Murray at an annual salary of $151,000.

Keen said a team from Middle States, during the November site visit, assured college officials that additional training for trustees and new policies and bylaws have assured the accrediting agencys officials that progress on that standard was being made.

Murray currently is employed by the college.

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Report: Significant progress on new Antonio Brown contract – NBCSports.com

Posted: at 6:07 am


NBCSports.com
Report: Significant progress on new Antonio Brown contract
NBCSports.com
Ian Rapoport of NFL Media reports that the two sides have made significant progress toward a deal that promises to be a very lucrative one for the wideout. Rapoport adds that the goal is to have the deal wrapped up by the start of the new league year ...
Antonio Brown, Steelers Reportedly Making 'Significant Progress' on New ContractBleacher Report
Steelers reportedly making significant progress toward extending WR Antonio BrownAll 22
Brown signed to a new five-year contractSteelers.com
Steelers.com
all 222 news articles »

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Brandon Ingram steps up, and Lakers think they’ll see more progress from the rookie – Los Angeles Times

Posted: at 6:07 am

For one half of a game Sunday afternoon, the Lakers saw signs of what they want to see more often from their first-round pick, Brandon Ingram.

They saw an aggression with which Ingram doesnt always play.

Sometimes I shy away from it a little bit, Ingram said. [Sunday night] I did a good job.

Ingram had his first career 20-point game Sunday against the San Antonio Spurs. His 22 points and 10 field goals were both career highs. He hasnt been the type of player to take over games at any point this season, but that doesnt worry the Lakers. As his coaches work on his physicality, the proper way to take contact and an attacking mentality, they believe theyll see more of this from Ingram.

Hell figure it out, Lakers Coach Luke Walton said. Were very confident that, from what we see every day in practice, hes gonna be a successful player in this league. Well keep pushing him and keep putting him in positions to succeed and to fail, and hell keep figuring it out. When he gets it, hell get it.

Understanding contact, and how he can use it to his advantage, is part of the learning process for Ingram. Team executiveMagic Johnsonworked with him last week on techniques that would make things easier for him on offense. But thats also something Lakers assistant Brian Keefe, who works individually with Ingram, has helped him learn.

Its understandingto use your body, knowing when the contacts coming, knowing when you can be the player that initiates the contact to get your defender off balance, then obviously getting stronger yourself, Walton said.

Ingram is still about as thin as he was when he was drafted. During the season, hes just working on maintaining his weight. As he fills out, he could start to look physically more like Warriors star Kevin Durant.

In the meantime, he and the Lakers are working on what they can better control.

Calderon waived

The Lakers waived reserve point guard Jose Calderon on Monday, after working on a buyout with the veteran guard.

Jose wanted to play and the Lakers were going in the direction of trying to play the younger guys, which we understood, said Mark Bartelstein, Calderons agent. I am really appreciative of Magic and the Laker organization for doing this for Jose. They wanted to keep him around, felt like he was valuable for his team. [There were] some opportunities we thought might be available and Magic was great about accommodating us.

According to reports, the Golden State Warriors would like to sign Calderon if he clears waivers.

Calderon spent most of his career with the Toronto Raptors. In the seven years he played there, the Raptors made the playoffs twice, and never got out of the first round.

The Warriors, meanwhile, have the best record in the NBA. They are heavy favorites to return to the NBA Finals this season.

The Bulls traded Calderon to the Lakers in July for the final year of a four-year contract he signed with the Dallas Mavericks. Calderon, 35, was often inactive for the Lakers, unless injuries required them to play him. He played in 24 of the Lakers 60 games and started 11 times for the Lakers this season.

He hopes to play 15 years in the NBA that would mean three more seasons.

I feel really good physically, Calderon said. I think I still can help and I can play minutes. I will be a free agent this summer, too, to maybe choose a good situation. Here it was great. The wins and losses, I totally understand what theyre trying to do. Ive been here helping all these guys and its been fun. But I guess youve always got that thing inside you, I think I can still play a little bit.

UP NEXT

LAKERS VS. CHARLOTTE HORNETS

When:Tuesday, 7:30 p.m.

Where:Staples Center.

On the air:TV: Spectrum SportsNet, Spectrum Deportes; Radio: 710, 1330.

Records:Lakers19-41; Hornets 25-34.

Record vs. Hornets:0-1.

Update: The last time these teams faced each other, the Lakers built a 19-point lead only to lose the game. The Hornets have been in Los Angeles for a few days. They played the Clippers on Sunday, scoring 121 points and still losing the game.

tania.ganguli@latimes.com

Follow Tania Ganguli on Twitter@taniaganguli

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OHSU docs: Baby Fatemeh making good progress – KOIN.com

Posted: at 6:07 am


KOIN.com
OHSU docs: Baby Fatemeh making good progress
KOIN.com
PORTLAND, Ore. (KOIN) Just weeks after a 4-month-old Iranian baby arrived in Portland for treatment of a life-threatening heart problem, doctors said she is making good progress after her surgery. In a press conference, doctors said Fatemeh Reshad ...
Iranian 4-month-old girl affected by Trump's travel ban making progress after life-saving heart surgeryNew York Daily News
Iranian Baby With Heart Defect: Doctors Pleased With ProgressPatch.com

all 16 news articles »

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The 2017 Academy Awards Refused to Be #OscarsSoWhite, and That’s Progress – Glamour

Posted: at 6:07 am

February 27, 2017 2:56 pm

Like many other women in America, I settled in to watch the fashion and glamour of the 2017 Oscars with two bottles of wine, some popcorn, and plenty of chocolate. But this year the annual tradition felt different. After 2016's #OscarsSoWhite debacle, I wondered whether Academy president Cheryl Boone Isaacs' efforts to increase the diversity of award recipients would actually be fruitful. My nervous energy was reminiscent of the feelings I had while watching the election results come ina mix of anxiety and hopewith the implicit understanding that these results were going to reflect something either encouraging or disheartening about the world I live in. I know this sounds dramatic, but seriously: Try watching the Oscars with blind optimism every year, hoping against all evidence to the contrary that actors who look like you will be recognized for their stellar performances, only to be disappointed. It's hard not to become disenchanted with the entire institution. Because for me and many of the people Im rooting for, winning an Oscar is not just a gesture of appreciation; it's a symbol of social progress.

So I was pleasantly surprised when this year, the Academy refused to go down as racist. After two consecutive years of failing to even nominate any African Americans in the lead- and supporting-acting categories, the Academy switched it up and six people of color were nominated in every performer category. I guess after 88 years of overlooking actors of color, they could no longer call this obvious conspiracy a prolonged "coincidence." We werent having it.

Honestly, I was just elated to see the recognition. Denzel Washington was nominated for Best Actor; Ava Duvernay was nominated for her documentary 13th; Octavia Spencer, Viola Davis, Naomi Harris, and Ruth Negga were all nominated for their acting. Even better, many of them won. Last nights successes were a sign of hope. Mahershala Ali took home the golden statue for Best Supporting Actor, making him the first Muslim actor to receive an Oscar; the win for Best Supporting Actress (a category that was dominated by black women) went to Viola Davis; and even the epic failure of the night (that also proved to be amazing television) turned into a win for the top honor, Best Picture, to Moonlight. The stories of black, brown, and marginalized people were being recognized as important, and the dynamic performances of actors in these roles were finally being acknowledged. These successes are a by-product of diverse groups of writers and producers uniting their creative vision to provide new opportunities that didnt previously exist for actors of color.

Viola Davis said it best in her acceptance speech for the sixty-seventh Emmy Awards:

"'In my mind, I see a line. And over that line, I see green fields and lovely flowers and beautiful white women with their arms stretched out to me, over that line. But I cant seem to get over that line.' That was Harriet Tubman in the 1800s. And let me tell you something: The only thing that separates women of color from anyone else is opportunity. You cannot win an Emmy for roles that are simply not there.

Shes right. But I would argue that what's great about films like Moonlight and Fencesand what makes last nights wins even more meaningfulis not only that they included people of color, but they also told their stories within the realm of the average Americans experience, including marital issues, coming to terms with sexuality, and family conflict. This allows audiences to take a peek into the lives of others and identify their shared humanity, which is arguably arts most important goal.

So, yes, movies like Hidden Figures, with its three quick-witted mathematicians helping NASA get to the moon while battling the injustice of the Jim Crow laws, or The Help, in which a group of steadfast nannies heroically demand fair wages and treatment from their white bosses in the dangerous, segregated South, are important. But its also important to place people of color in the here and now and give those actors the opportunity to demonstrate their versatility, expose their flaws and complexity, and ultimately transcend roles based on race. Lets stop casting Middle Eastern actors as terrorists, Indians as IT specialists, or black men as gangsters.

As the Academy continues to acknowledge these stories, from the epic to the more mundane, actors of color will gain more exposure and opportunities in film. Great strides are already being made in television. Casting decisions like Kerry Washington as the well-educated fixer for a Republican candidate in Scandal and Zoe Kravitz as a bohemian step-mother in a predominantly white neighborhood in Big Little Lies push the boundaries of peoples subconscious prejudices and transform the way we think about people of color. By continuing to celebrate talented writers and directors like Issa Rae, Melina Matsoukas, Donald Glover, and Aziz Ansari, organizations that give out the awards like the Emmys, Golden Globes, and Oscars are acknowledging and reinforcing the important work of creators of color.

I've always loved television and film. I devour all kinds of storiesfrom Homeland to Girls to Veep to This Is Usbut very few of these shows reflect my lived experience. Im looking forward to a more inclusive landscape in Hollywood, one that shares the powerful and enlightening stories of people like me and not like me. Art that illuminates and humanizes others' perspectives helps create a society of people who learn to empathize before we criticize. And now, more than ever, we could all use a little of that.

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Ramos and US U-20s show progress and poise in vital win vs. Mexico – Goal.com

Posted: at 6:07 am

A week after opening the CONCACAF Championships with a loss, the U.S. under-20s delivered a win for the ages, beating Mexico in CONCACAF qualifying.

What a difference a week makes.

Tab Ramos and the U.S. Under-20 national team couldn't have begun the CONCACAF Under-20 championships in worse fashion, suffering a loss to Panama despite a man advantage, losing key midfielder Tyler Adams to an ankle injury in the process. Ramos was roundly criticized for his team's flat performance, and there were suddenly questions about whether this U.S. team would even make the Under-20 World Cup.

Mexico U-20s dealt blow by United States

One week later, Ramos is looking like a master tactician after leading that same U.S. U-20 team to a thoroughly impressive win against previously undefeated Mexico. The victory was the first by the U.S. against Mexico in the competition since 1986, when the likes of Kasey Keller and Marcelo Balboa were on the U.S. team.

The Americans succeeded in stifling Mexico with consistent high pressureand the excellent organized work of the defense. The central midfield, where the trio of Erik Palmer-Brown, Adams and Eryk Williamson stifled El Tri's ability to create through the middle, made a huge impact. That work helped limit Mexico to zero shots on goal.

Adams' return to action came as a bit of surprise after being the victim of a vicious tackle against Panama that put the rest of his tournament in serious doubt. The New York Red Bulls midfielder was key to the U.S. plan to neutralize Mexico, because his unmatched work rate was crucial to the team's ability to press and pester Mexico's playmakers.

Adams did his part, as did Williamson and Palmer-Brown, who scored the winning goal when he headed home a Brooks Lennon corner kick that a Mexico defender tried in vain to keep out.

The U.S. didn't bunker in and defend, but chose instead to press high up the field, which Mexico simply didn't have an answer for. It was a full team effort, from striker Jeremy Ebobisse to wingers Luca de la Torre and Lennon. The Americans showed a confidence and desire that was absent in the tournament-opening loss to Panama, an impressive tournament considering it was done with 10 starters who also started in the loss to Panama.

The match did the USA-Mexico rivalry proud, with plenty of chippiness and trash-talking mixed into the intense battle. The Americans never did back down, but more importantly, never fell for the cheap shots or baiting of a Mexican team that clearly grew more frustrated as the afternoon wore on.

Cameron returns for Stoke

The Mexicans were left looking far less imposing than they did in the first round of the tournament, which they plowed through with three shutout victories. They hadn't faced a defense as sturdy as the Americans, with seasoned pros Justen Glad and Tommy Redding anchoring the central defense. With the U.S. midfield doing such a good job of cutting down passing lanes and staying tight to Mexico's top attackers, El Tri simply couldn't find a rhythm, or the patience to break down the U.S.

The execution of Ramos' game plan was excellent in that it played to this U.S. team's strengths, while hiding the clear weaknesses the team has in attack. Ebobisse and De La Torre have had their ups and downs this tournament, and the reality is many of the top attacking options in the Under-20 player pool aren't available for this tournament. With that in mind, Ramos is capitalizing on what strengths this team does have, mainly in central defense and in midfield, where the U.S. has the speed, tenacity and bite to make things difficult for anybody.

Monday's win just might be enough to secure a place in the Under-20 World Cup for the Americans, depending on what Mexico does against El Salvador on Wednesday, but if El Tri rebounds as expected, the U.S. will still go into Friday's group finale against El Salvador needing a win or draw. Even though El Salvador doesn't pose the same problems Mexico does, Ramos and his team would be well served to approach that game in much the same way they approached Monday. Emphasizing defensive pressure and organization, while looking to take advantage of opportunities on corner kicks and set pieces.

That might not sound like an overly ambitious approach against a team in El Salvador that the U.S. should beat comfortably, but the ultimate goal in this tournament is to qualify for the World Cup, where the U.S. should be able to field much closer to a full-strength team, particularly in attack.

If a World Cup berth is still on the line come Friday, Ramos would be wise to stick with what worked against Mexico. Not only because the recent history of U.S. youth national team failures offer enough evidence of what overconfidence can do, but also because Ramos need only look at this past week for evidence of just how quickly and dramatically fortunes can change for a team, and a coach.

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Daily Progress sports section earns APSE ‘Grand Slam’ – The Daily Progress

Posted: at 6:07 am

The Daily Progress won Grand Slam honors at the annual Associated Press Sports Editors national writing and sections contest, which concluded on Sunday.

The Daily Progress, competing in the under-15,000 circulation division, earned top-10 recognition for its daily, Sunday and special sections as well as its web site.

The Daily Progress was one of 13 media organizations to earn Grand Slam honors in this years contest. The others were the Chicago Tribune, Dallas Morning News, Minneapolis Star-Tribune, Washington Post, Indianapolis Star, Oklahoman, Omaha World-Herald, St. Louis Post-Dispatch, Knoxville News-Sentinel, Tuscaloosa News, Opelika-Auburn News and Wyoming Tribune Eagle.

In the APSE writing competition, Daily Progress University of Virginia athletics writer Andrew Ramspacher received two top 10 honors. Ramspacher was recognized in the features category for his story on Virginia quarterback Matt Johns and his friendship with a young cancer patient, as well as in the beat writing category for his beat coverage of the Virginia football program.

The APSE awards, voted on by sports editors and journalists from across the nation during four days of judging in Lake Buena Vista, Florida, honor work published in 2016.

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TCF Financial touts progress, but investors remain cautious – Minneapolis Star Tribune

Posted: February 26, 2017 at 11:08 pm

During a meeting with big investors and analysts in New York City earlier this month, TCF Financial CEO Craig Dahl and his chief financial officer were peppered with questions about a national auto-lending portfolio that underperformed in the fourth quarter and that amounts to less than a sixth of TCF's revenue mix.

At one point, CFO Brian Maas asked if they wanted to discuss the 85 percent of business that performed well.

"The auto business is an issue," said Christopher McGratty of Keefe, Bruyette & Woods in New York last week. "It has been a growing source of their business. TCF also has the [January] lawsuit brought by the Consumer Financial Protection Bureau. [Investors] are uncertain about their future. And that's why the stock hasn't worked.

"Their old business model got upended. And Craig was instrumental in growing new businesses the last few years. What's challenging is that some of these markets can move quickly against them."

Dahl, 62, a veteran commercial lender and executive at TCF since 1998, acknowledges there is work to do.

TCF's stock price has traded mostly between $12 and $18 per share since the Great Recession of 2007-08. That's far short of the $20 to $28 range of the several years before when TCF was considered acquisition bait by larger banks as it raked in profits from fees and overdraft charges that were limited by regulators after the recession.

Former CEO Bill Cooper, who died of cancer earlier this month at 73, was the leader at TCF since arriving in 1985. He pulled off a widely admired turnaround of the failing S&L, turning it into Minnesota's third largest commercial bank. Dahl succeeded Cooper as CEO on Jan. 1, 2016 as TCF's performance improved.

Last year, TCF posted a 6.6 percent rise in earnings to $212 million on a nearly 5 percent increase in revenue to $1.4 billion. As revenue grew in recent years, Dahl restrained costs by closing about 100 of what was once 440 branches since 2012. He invested in technology to bring TCF's lagging consumer-online services to the level of competitors such as Wells Fargo, his previous employer. And Dahl grew consumer and commercial lending.

Since 2014, TCF was able to increase low-cost deposits by $5 billion, the consumer checking and other accounts it uses to finance higher-yielding loans, mortgages and credit cards.

That long-term progress has led some analysts, such as Jared Shaw of Wells Fargo Securities in New York to project the bank will "outperform" its midsize peer group and achieve a stock price of $19 to $20 this year. It closed at $17.51 Friday.

Dahl is a collaborative leader who samples opinion among a larger group before making decisions. He also has a track record of starting or running commercial lending and leasing business that have grown profitably. As CEO, he also has learned to take a longer view.

"Running the bank for today is what I was doing driving for performance in all these businesses," Dahl said. "As I moved into this [CEO] chair, it's become What are we going to do tomorrow? What are the things we are not doing today? If I'm not thinking about tomorrow who is? That's been my biggest change."

Dahl, an International Falls, Minn., native who played hockey while earning a bachelor's degree at Princeton, was nicknamed "Coach."

While finishing his degree at Princeton after his hockey eligibility expired, Dahl was asked to coach the first women's hockey team at the school. That mention caused him to smile and recall how much fun it was to coach a group of bright young athletes, something he later did as a youth coach for 20 years in the Twin Cities.

Dahl has surrounded himself with complementary players. Half of his six-person senior management team came up with Dahl through the leasing businesses. He's balanced the team with three outsiders, including new managers who joined TCF from Target, Wells Fargo and PNC Financial.

Dahl still wrestles with issues from the Cooper era, who could have sold the bank at a premium before the recession, and leaned heavily on consumer overdrafts and electronic fees.

They were curtailed by the Federal Reserve and Congress after the near-failure of the banking industry and the resultant taxpayer bailout of 2008-10.

Mairs & Power, the St. Paul investment firm that was one of TCF's largest shareholders for years, sold out its position a few years ago amid uncertainty as TCF struggled to replace lost fee revenue with the national auto-leasing business and commercial lending.

TCF's performance and stock price has improved since 2015. Dahl has proved that TCF could build revenue using a deposit-funding base that's cheaper than those of most his midmarket peer group while gaining economies by closing branches and replacing them with ATMs.

Dahl's latest challenge is a lawsuit brought in January by the federal Consumer Finance Protection Bureau (CFPB), alleging TCF since 2010 has misled customers into a service that costs a $35 fee to cover each overdraft on their accounts.

"We have to conclude that lawsuit," said Dahl, who knows it concerns investors. "We feel we're on the right side of the law."

TCF last week filed its response in federal court as part of a motion asking a federal judge to dismiss the case.

And TCF is not for sale, Dahl said.

"I wouldn't be investing if I had been told [by the board], to sell the bank," he said. "We have a clear strategy. Our performance has moved up the continuum among our 50-bank peer group."

Cooper moved TCF's longtime headquarters 20 years ago from Minneapolis. The former Republican Party chairman disliked Minneapolis DFL politicians.

After TCF's lease expired downtown in the former TCF building in 2015, he moved 1,100 employees to a new campus in Plymouth.

Dahl said last week after the Wayzata lease expires, he probably will move a couple hundred headquarters employees to Plymouth or the commercial lending offices in Minnetonka.

Dahl, unlike Cooper, avoids public politics. The one-time young DFLer from International Falls, who played on a state championship hockey team in 1972, said he's a political independent.

"I like to stick to business," Dahl said.

Originally posted here:

TCF Financial touts progress, but investors remain cautious - Minneapolis Star Tribune

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