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Trump’s 40 Wall Street sees revenue fall 11%

first_imgShare on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Occupancy was 87.3 percent as of Oct. 27, and some tenants have been offered concessions to stay on. But that may not be enough to keep certain companies in the building: After the Jan. 6 attack on the U.S. Capitol, the Girl Scouts’ New York City chapter was reportedly exploring its options to break the 15-year lease it signed in 2014.Overall, the Trump Organization’s revenue fell by 38 percent in 2020, with its hotels and golf clubs losing money due to the pandemic. (Mar-a-Lago, the company’s club in Palm Beach, Florida, was the outlier, with a revenue increase of 13 percent.)Trump’s company has more than $300 million in loans that will come due in the next few years, and several businesses have recently cut ties with the business in the wake of the Jan. 6 riot.The building at 40 Wall Street isn’t actually owned by former President Donald Trump; he merely leased it for a term of up to 200 years. The building’s actual owners are a group of obscure, wealthy Germans, a TRD investigation revealed.[Bloomberg News] — Sasha JonesContact Sasha Jones Message* Email Address* Full Name*center_img President Donald Trump and 40 Wall Street (Getty, Wikimedia Commons, iStock/Illustration by Alexis Manrodt for The Real Deal)One of former President Donald Trump’s most historically successful assets — the skyscraper at 40 Wall Street — had a rough year.Revenue at the building hit $27.7 million in the nine months through Sept. 30, according to Bloomberg News, citing loan data for the property. Looking at the annualized data, that would be the equivalent of an 11 percent drop year-over-year.And its debt service coverage ratio has declined, going from 1.67 times in 2019 to 1.24 times in 2020, signaling possible difficulties in having the cash to cover its debt. The $137 million loan on the building, which is sponsored by Donald Trump, has been on a watch list since November due to pandemic-related revenue decline.ADVERTISEMENTRead moreMeet the obscure German magnates who actually own Trump’s most valuable buildingReal estate deal prompted resignation of Trump’s longtime bankerCarl Icahn pulls plug on auction to demolish Trump casino Share via Shortlink Tags40 wall streetCommercial Real EstateDonald Trumplast_img read more

NarrativeWave and Hibernia announce two-year agreement

first_imgNew relationship to optimize oil and gas operations using advanced analytics New relationship to optimize oil and gas operations using advanced analytics. (Credit: Pete Linforth from Pixabay) Hibernia Resources, an acquisition and development company focused on the exploration, growth and production of oil and natural gas assets, and NarrativeWave, a software-as-a-service Internet of Things company, announced a two-year agreement for Hibernia to use NarrativeWave’s software in their oil and gas operations. Hibernia will use NarrativeWave’s software to optimize production and detect anomalies in the operation of their oil and gas wells.“We chose NarrativeWave for its ability to pull in real time data and enable us to use their builders to customize equations and analytics for our operational needs,” said Miles Walker, VP of Production for Hibernia. “We also see the platform being used for other applications in our business beyond the optimizing of our gas lift wells.”“We are excited and committed to the client relationship with Hibernia Resources,” said Benjamin Decio, CEO of NarrativeWave. “With today’s market conditions, the role of analytics and decision automation becomes even more critical as NarrativeWave helps our clients like Hibernia to maximize the value of their existing assets and promote more efficient operations. NarrativeWave rapidly enables Hibernia to leverage its own data to optimize performance and cost savings during this crucial time in the Oil & Gas industry.” Source: Company Press Releaselast_img read more

‘There will not be a housing crash’, predicts industry figure

first_imgHome » News » COVID-19 news » ‘There will not be a housing crash’, predicts industry figure previous nextCOVID-19 news‘There will not be a housing crash’, predicts industry figureFormer eMoov founder and now Keller Williams franchisee Russell Quirk sticks his reputational neck on the line once again.Nigel Lewis22nd May 20206 Comments10,484 Views Ignore the doom-mongering national media – we won’t see a property price crash, says Russell Quirk who’s taken the market’s temperature and reckons it’s on the road back to health.Speaking during a podcast with Chris Watkin shown exclusively to The Negotiator, the PR guru and Keller Williams franchisee also advised the industry not to accept the word of property experts – even the Bank of England – as they were often wrong.“Our market is fundamentally sound,” says Quirk. “If we’ve weathered the storm of Brexit and come through without prices dropping we’ll weather out what will hopefully be a few short months of disruption from Covid-19.”He points to financial experts such as George Osborne who warned that if we left the EU, the property market would crash and prices would drop by 18% – but prices have since gone up by 8%.“We’re seeing pent-up demand translating into more enquiries, booked viewings are rocketing. We’ll come out of this OK.”Quirk says home-owners have the cheapest money this country has ever seen and can fix a five-year mortgage as low as 2%, while there are now “bundles” of mortgage products and lenders have slashed rates in the last few days.“They anticipate we will come out of it and they want to be the lender of choice,” he explains.Other positive factors include the fact jobless figures haven’t risen as much as they did in every other recession – by an extra 12,000 in April rather than the ONS forecast of an extra 172,000 unemployed. “The furlough scheme is working to keep people in work and although I suspect the total might rise to 7% or 8%, it will then recover.”Quirk adds that the losers could be some of the corporate estate agents with their fixed overheads who are most vulnerable to market challenges, while the more agile independents can be more flexible, getting staff to work from home, or doing more lettings than sales when necessary.Watch the videocovid-19 coronavirus Russell Quirk May 22, 2020Nigel Lewis6 commentsChris Arnold, andsothestorybegan andsothestorybegan 23rd May 2020 at 6:56 pmSomeone’s been drinking the KW Kool-Aid.We’re in for a horrendous year, despite what the press say, or do not say. The winners will be the agents that manage the market, rather than those who try to artificially inflate what isn’t there. Optimism is one thing – delusional, quite another.Log in to ReplyAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 22nd May 2020 at 2:44 pmI think there will be 618,232 completions in 2020 as recorded by Land Registry as opposed to 1.2M in 2019. 50% drop.As typical residential sale cycle 20-weeks; so most of listings secured second week of July or after will not be a completion in 2020.True, most agents will have a reduced level of staff in some branches on the 1st of June, but that is only six weeks before the July cut off.And the kicker is that on the third week of March, all agents in the UK had stock levels of property at the usual seasonally low level, which without the pandemic would have swelled in size over the next 6-lockdown weeks of the pandemic. Proptech-PR.comLog in to ReplyAndrew Goldthorpe, PropertyMutual.com PropertyMutual.com 22nd May 2020 at 11:54 amI agree with Fraser and am concerned this could be a “dead cat bounce”.The effects of paying for the recovery from a widely predicted deep recession have not been calculated yet, never mind felt. Taxes are going to have to rise, families will face less disposable income and more uncertainty.Factor in a possible Brexit “crash out” and there is little doubt there are painful and uncertain economic times ahead.Log in to ReplyFraser Barron, Tristram’s Sales & Lettings Tristram’s Sales & Lettings 22nd May 2020 at 9:25 amNow I love a bit of positivity but he should probably get the figures correct here.We aren’t even technically speaking in a recession as of yet but we certainly will be come end of June.Everyone is furloughed and unemployment skyrocketed in April even with this blessing of a scheme the government put in place.A few short months of disruption due to covid-19 – yeh sure property market is bouncing back a little now we are all agreeing sales and have good viewing numbers despite the virus. However the economy dictates the housing market and I can’t see the economy in a good state in 12 months time.So yes a little bounce back for now but as unemployment continues to rise, more and more businesses continue to struggle, as even if they can open their costs are increasing due to social distancing and the demand for their services will not be like before.Log in to ReplyMurray Lee, Dreamview Estates Dreamview Estates 22nd May 2020 at 8:55 am100% agree Russell. We have been busy before lockdown and as busy after3 sales agreed in 1 week1 was even after a bidding warKeep spreading the wordLog in to ReplyMurray Lee, Dreamview Estates Dreamview Estates 22nd May 2020 at 8:51 amHave a lot of respect for your views (well apart from when you tried online agency – doomed from start) at totally agree with you hereI accept areas can be marginalised and different but we are not experiencing this at allWe have been active throughout the lock down and getting enquires throughoutWe held back 2-3 instructions and from last thursday been busy with viewings and offersWe have agreed 3 sales this week alone and 1 of those was a flat only listed last week at £30k under asking (£10k less that “hoped”)We laos were in a bidding war already on a house marketed prior lockdown with no views possible till Saturday4 views over weekend resulted in 2 offers bidding to within £15k of asking on £1,150,000So the simple facts poove the doom mongers are wrongAll power to you Russell and keep spreading the word !Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Harvard and MIT donate $500,000 to Cambridge

first_img Waste not, want not University community rallies to deal with COVID-19 crisis Law School’s Food Law and Policy Clinic steps up its efforts in time of pandemic Changes to human resources policies to run through May 28 Last week, the city of Cambridge announced an Emergency Order to use the War Memorial site for a temporary emergency shelter.“As we grapple with the enormity of this pandemic, we know that the city must provide an appropriate safe location for our homeless community to take shelter, properly isolate or self-quarantine, and stay safe. We are grateful to Harvard and MIT for recognizing the critical importance of this temporary emergency shelter and providing this instrumental funding,” said Siddiqui and DePasquale.Though hotels, university dormitories, and other housing complexes were discussed and considered, local public health officials pointed to several key variables that made the War Memorial the most fitting for public health needs. Its proximity to health care facilities, quick activation time, physical infrastructure, variety of separable spaces, and secure off street and underground drop-off access were among the most critical factors. Furthermore, the War Memorial’s existing security design is easily augmentable, utilizing a combination of private security for the interior and a dedicated team of Cambridge police officers to provide security for the surrounding community on a 24-hour basis.For more information on the temporary emergency shelter, visit the website. Harvard University and the Massachusetts Institute of Technology (MIT) have made matching donations of $250,000 each to the city of Cambridge to cover costs associated with the creation of a temporary emergency shelter at the War Memorial Recreation Center, Field House, and garage.“Since this outbreak began, residents of Cambridge have benefited from the extraordinary generosity and partnership of the city’s leading business and academic institutions,” said Cambridge Mayor Sumbul Siddiqui and City Manager Louis A. DePasquale in a joint statement announcing the $500,ooo donation.“Harvard is proud to join MIT and Cambridge leaders in supporting the city’s homeless residents and ensuring that they have access to appropriate housing, food, health care and mental health services during this unprecedented public health crisis,” said Harvard President Larry Bacow. “From emergency housing, to PPE, to research and diagnostics, the entire Harvard community is bringing our best to respond to the many and unexpected issues that the novel coronavirus has presented — and we are honored to be working along so many committed partners in this effort in Cambridge, Greater Boston, and around the world.”“In our ongoing effort to help the city of Cambridge respond to this crisis, supplying financial support to create the emergency shelter was a logical next step,” said MIT President L. Rafael Reif. “As soon as we understood the need, we knew we wanted to help — and we are pleased to partner with Harvard on this critical initiative. MIT will also continue its support of Cambridge’s nonprofits, small businesses, and residents as this crisis unfolds. The leadership of Mayor Siddiqui, City Manager DePasquale, and the City Council have been a powerful inspiration. With each passing day, it becomes more obvious that we are all interdependent, bound together as neighbors.” Harvard to help track the virus Related Administrators, professors detail many and varied ways Harvard is trying to help, including offering use of hotel by Cambridge first-responders, health care workers Harvard to guarantee workers’ pay, benefits amid coronavirus disruptions Students from Chan School are helping to boost the volunteer public health workforce last_img read more

From a care of souls to the care of bodies

first_img Online forum aims to teach how to deal with pandemic stress Kevin Cranston, M.Div. ’86, took his degree from Harvard Divinity School into the care of bodies as well as the care of souls. Today he is assistant commissioner in the Massachusetts Bureau of Public Health, and the director of the state’s Bureau of Infectious Disease and Laboratory Sciences. He and his team of epidemiologists and lab scientists are working hard tracking cases of COVID-19 and helping advise local and state officials on policies to best mitigate its spread.Cranston spoke with the Gazette about the critical and continuing need for adequate testing and about how data helps inform policy and procedures during a pandemic. He shared what he’s learned from his time as director of Massachusetts’ HIV/AIDS Bureau, and how his Divinity School experience informs his work in public health.Q&AKevin CranstonGAZETTE: What have been the main responsibilities of the Bureau of Infectious Disease and Laboratory Science during the outbreak of COVID-19 in Massachusetts?CRANSTON: Our primary roles fall into two areas. One is the epidemiologic analysis, or data tracking, of the spread of the pandemic, from the first case identified in Massachusetts of a traveler from Wuhan, China, to today, where we now have [nearly 9,000] cases diagnosed across the state [as of April 2]. The more than 50 epidemiologists who are on my team, and the more than 100 epidemiologists in total at the Massachusetts Department of Public Health, are working closely with clinicians and local health departments to help locate, and then provide advice, on individuals who have contracted the virus, as well as the need to quarantine their close contacts, in order to interrupt its spread.The other side of my bureau is represented by the State Public Health Laboratory in Jamaica Plain. Ours was the first lab in Massachusetts able to test for the virus using kits supplied to us by the Centers for Disease Control and Prevention (CDC). Up until just a couple of weeks ago, we were the only lab that was authorized and able to provide test results for COVID-19 in the state. We’re pleased to be joined by other commercial and clinical labs that are now picking up the high volume of testing that needs to be conducted.GAZETTE: It’s been widely reported that lack of tests for COVID-19 has played a large role in how fast the virus has spread in the U.S. Are we catching up, and how far do we need to go to meet demand here in Massachusetts?CRANSTON: There were certainly some hiccups in the initial allocation of test kits to state public health labs, which were the first to receive them after the CDC initiated testing for COVID-19. After a delay due to problems with one of the reagents in the tests, we were able to move forward with testing in late February. At the onset, having only state public health labs doing the testing did not come close to meeting the needs of the growing number of clinicians looking to test their patients experiencing symptoms consistent with COVID-19.We still don’t have enough tests to meet demand. We’re currently focusing much of our efforts on those environments that are particularly high risk — at health care institutions, primarily. Being able to test ill health care workers is critical if we’re going to keep them on the front lines, both for their sake and for the sake of the patients they are caring for. We need to keep doctors, nurses, EMTs, and first responders on the job as much as possible, and we need to keep them from being involved in the transmission of the virus. Clinical and commercial labs across the state continue to dramatically expand their capabilities for testing for COVID-19, and I believe that we can keep ahead of this urgent need to test in these high-risk settings. We are also ramping up efforts to perform widespread testing in settings with vulnerable populations and in congregate living environments where the virus can spread rapidly, such as in nursing homes, long-term facilities, group homes, and shelters. Having accurate data about who has the virus is of course critical in effectively limiting its spread.GAZETTE: Can you say more about how the data your office is collecting has helped influence some of the policies currently in place across the state?CRANSTON: It’s been a moving target, and that’s the nature of epidemics. In the early stages, it looked geographically focused. Going back to December, the epidemiological analysis on COVID-19 was focused on Wuhan and the surrounding province, then it expanded to countries in East Asia, and upon arrival in the state of Washington, it became an acute need to determine the extent to which the virus was in the U.S.When we had our first case in Massachusetts in a recent traveler to China, the CDC tested the individual, and we were able to advise this person on self-isolation practices, who was very compliant. Soon, as you undoubtedly know, we saw community outbreaks taking place, and in particular, our attention quickly turned to the Biogen conference.At Biogen, a large number of people began displaying symptoms of a flu-like illness days after the conference had taken place, and we became aware of two individuals who had subsequently tested positive for COVID-19 upon returning to their home countries in Europe. We began by testing close contacts to one individual, and soon it became clear that quite a large outbreak of COVID-19 in our state occurred at this conference. Once we saw cases of COVID-19 that we couldn’t track back to specific individuals, such as in Berkshire County in Western Massachusetts, we realized that we had entered into the next phase of the epidemic, which is sustained community-level transmission. Now, we are approaching widespread community transmission across the state.Each of these phases in the life of the epidemic have specific recommendations attached to them. When you have a small number of cases in a localized area, you are operating under the approach of containment, whereby you look to isolate a very small number of people and quarantine their close contacts to make sure they don’t spread the disease. But as you move into these larger environments, or into what appears to be widespread community transmission, you move into some of the strategies we’re seeing now — things like school closures, stay-at-home orders, restrictions on the size of groups, and cancellation of large events.GAZETTE: How has the data on COVID-19 been shared across Massachusetts?CRANSTON: Prior to the outbreak of this pandemic, our public health regulations said that a novel coronavirus, if it were to emerge, had to be immediately reportable. This means that a clinician who makes a diagnosis, either off a test result or a clinical diagnosis, is required to immediately pick up the phone and call the local health department. The same is true for clinicians in a hospital setting and also for laboratories that perform a test.These regulations were established based on our prior experience with SARS, and the anticipation of the arrival of MERS, which we have not yet seen in the U.S. but which we anticipated would arrive. All novel coronaviruses, because of their potential to spread rapidly and widely, and the seriousness of their infections, are mandated to be reported.On a technical level, in Massachusetts we also have electronic systems that automatically report much of this material. Virtually all of our acute care hospitals and their clinical labs, plus all of the commercial labs working in Massachusetts, whether they are located here or not, provide our department with a daily electronic feed all of positive test results for over 90 infectious diseases. In the case of COVID-19, we are receiving all positive and negative results to help determine the full extent of testing in the state.Our office sorts through over 9 million lines of laboratory data per year, which go into an electronic surveillance system known as MAVEN [Massachusetts Virtual Epidemiologic Network]. Through this system, we can analyze what’s taking place around disease events such as COVID-19, and we can communicate directly and immediately with the 351 city- and town-based independent health authorities across Massachusetts, in addition to the clinician who ordered a particular test. This is important in zeroing in on where outbreaks are happening, and in making recommendations on how to try to slow their progression.GAZETTE: Is this kind of electronic system unique to Massachusetts?CRANSTON: Massachusetts is way ahead of the game in establishing more automated, electronic, informatics-based epidemiologic systems. A number of other cities and states around the country use the MAVEN system and others use other platforms, but there are also a lot of health departments nationwide that are still reliant on telephone and paper-based systems, and manual data entry. There is still a lot of work to be done on the core public health informatics infrastructure nationwide.GAZETTE:  What kind of information sharing happens between states?CRANSTON:  State health departments are in touch all of the time. There are a number of different organizations that support us in this. For example, our Public Health Commissioner, Monica Bharel, is a member of ASTHO [the Association of State and Territorial Health Officers, and the commissioners of public health are in daily email communication and participate in frequent conference calls, often targeted to this work. [Eds. note: Bharel recently tested positive for COVID-19, and Cranston says she is recovering comfortably at home, while continuing to lead the department remotely.]Our epidemiologists are all generally members of CSTE [the Council of State and Territorial Epidemiologists], an organization which allows us to share trends and our approaches, particularly regionally. New England is made up of geographically small states, and people move around and across our boundaries all the time. Infectious diseases don’t respect geopolitical boundaries, by any means. Being aware of what’s happening in our neighboring states, and they being aware of what’s happening in Massachusetts, is critical for response preparedness.GAZETTE: Have there been any specific examples of action steps taken based on this kind of collaboration during this pandemic?CRANSTON: Particularly at the gubernatorial level, our surroundings states, including Massachusetts, are all now in full-scale states of emergency, which invoke certain powers and authorities and which have allowed for some of the dramatic actions that have been taken around social distancing. The sharing of information related to these strategies, and frankly, common expressions of frustration regarding material resources that may not be coming from the federal government, are examples of how communication across states has led to meaningful shared action as we seek to curb the spread of this pandemic.GAZETTE: You spent much of your career working to combat the HIV/AIDS pandemic, including as director of the HIV/AIDS Bureau in Massachusetts. Does this experience inform the work you are doing now with regards to COVID-19?CRANSTON: I’m old enough to remember the very beginning of the HIV/AIDS pandemic. And this is really my third pandemic in my public health career; the H1N1 pandemic certainly qualifies, too. What I’ve learned is that while each organism has its own uniqueness, people are really the same.I certainly don’t want to make facile comparisons between living with a lifelong HIV infection and the devastating impacts HIV had on entire communities, particularly before the development of effective treatments, to what we’ve seen thus far with this novel coronavirus. But there are aspects in common — this is an organism that is transmitted from human to human, which has spread rapidly due to human migration and through people’s tendency not to take new threats seriously, especially in the early days of its spread. The unjust characterizations of certain ethnicities as the source of infection around COVID-19 remind me how certain populations such as gay and bisexual men and injection drug users received the blame for the AIDS pandemic. When we react in fear, unfortunately, tendencies to castigate the other as the source of contagion can sometimes overwhelm a focus on the virus itself, and its unique biological properties.I think that the good news is, in both cases, the virus relies on human behavior to advance, and just as we saw in HIV, dramatic behavioral changes can dramatically shift the course of the pandemic in a positive way. We saw this among gay and bisexual men and injection drug users regarding HIV even before there were effective treatments.With COVID-19, we have the opportunity to make individual choices about how we interact, how much we observe stay-at-home orders, to what degree we wash our hands, to what degree we maintain a 6-foot distance between each other, and we have the chance to support one other to get the medical care and social supports that we need in order to counteract this virus. These are all lessons that we learned from HIV/AIDS. The community, at every level, can learn and activate in defense of its own health.GAZETTE: You have a master’s degree in divinity from Harvard Divinity School. How has your time at Harvard informed your career in public health, and specifically, your work in times of a pandemic?CRANSTON: I’m actually not unique in having a theological education and working in the field of public health. Public health tends to draw people of a range of different backgrounds and preparations.The HIV epidemic actually drove me in this direction. It was 1983, and there was very little at that time in terms of organized response to the disease outside of research and medicine. I was already thinking about a divinity school education at that time, but I was also thinking about how I needed to jump in and help my friends. I’m a gay man, and my friends were beginning to get sick in 1983.I had an instinct that the HIV/AIDS epidemic was not going to be a short-term reality, and that it would be better for me to get some skills to be more helpful. And that was the decision I made and I’m glad I made it. I of course did my hermeneutics and exegesis, and I studied Biblical [Koine] Greek at Harvard, but I focused particularly on program development and counseling. What I actually learned in Divinity School, though, is a rigorous way of thinking about and approaching problems. I also learned to draw from multiple traditions and from multiple disciplines in my approaches to a problem, and I learned to do so with a deep ethical framework embedded in in my work.I try to ask myself every day, are we doing all that we can do, and are we treating people in the ways they deserve to be treated as human beings? Public health has been a great field to play these commitments out, as it is essentially about social change for the improvement of the human condition. It has been a natural transition from my Divinity School education into a public health career. I truly rely on my Harvard education every day.I’m lucky to have been able to attend Harvard, and I hope those of us with Harvard educations are prepared to deploy them in our respective systems and endeavors during these deeply challenging times. There is no way to sugarcoat a pandemic. This is about all of us. The worst of it is imminent. It is not going to be a short haul. I really feel like we have to deploy our best and our brightest to address this pandemic, and to support each other, and then dig out of the social impacts COVID-19 has already caused.Interview has been lightly edited. The Daily Gazette Sign up for daily emails to get the latest Harvard news. Harvard to help track the virus Chan School session breaks down what it is, what it looks like, and ways to ease it Related From the lab to COVID front lines Students from Chan School are helping to boost the volunteer public health workforce Technology developed at Harvard provides early boost to Mass. COVID testing last_img read more

Culture Lab Innovation Fund award winners announced

first_imgThe Office of Diversity, Inclusion, and Belonging (DIB) last week announced grant winners of this year’s round grants from the Harvard Culture Lab Innovation Fund (HCLIF). The awards provide students, staff, faculty, and postdocs with funds to pursue projects advancing DIB’s goals at Harvard.The 10 awardees for fiscal year 2020, rigorously winnowed from a field of nearly 100 applicants across the University, address the needs of some of Harvard’s most vulnerable community members, including undocumented students, students with disabilities, LGBTQ community members, first-generation/low-income students, racial minorities, and marginalized genders.“With our annual investments in innovative solutions, we are helping to ensure that Harvard University will soon realize and sustain a campus culture wherein everyone can thrive,” said John Silvanus Wilson, senior adviser and strategist to President Larry Bacow. “Each of the awarded projects directly enhances the experiences of those from Harvard’s groups previously excluded or marginalized, while indirectly improving the overall campus culture. That is both long overdue and especially important during these difficult times. I am confident that these newly funded initiatives will help to measurably move Harvard University toward sustainable inclusive excellence.”The awardees include:An online race research and policy portal led by Kennedy School Professor Khalil Muhammad, whose objective is to “evaluate existing evidence-based research and publications in areas of policy, practice, and organizational change as they relate to racism, racial equity, and anti- racism so that all Harvard affiliates can quickly access high-quality research for use in the classroom, research, and curriculum development.”The undergraduate student-led Harvard H.U.B. (for Here U Belong), an interactive digital platform that uses technology and storytelling to connect undergraduate students to campus resources.A mentoring technology called SySTEMatic designed to support diversity for students, faculty, postdocs, and staff in the STEM fields.The NextGen initiative, submitted by a broad cross-functional team from various Schools and units at the University, which is a multiplatform project that aims to enhance the experience of all students who are the first in their families to pursue an undergraduate or graduate degree, including undocumented and low-income students.For fiscal year 2020, the fund sought projects using technology-driven solutions to social problems. The grants ranged from $2,000 to $25,000. Submissions were judged based upon their alignment with the goals of the Presidential Task Force Report on Inclusion and Belonging; application of inclusive design principles, innovation, and measurable impact; and how submissions aspired to the values of One Harvard.The full list of winners, and details about each of the 10 projects, can be found on the DIB website. Sherri Ann Charleston named chief diversity and inclusion officer Relatedcenter_img Diversity and higher ed expert joins Harvard from UW-Madisonlast_img read more

Duncan Macmillan’s Every Brilliant Thing Begins Previews Off-Broadway

first_img 1. Ice cream, 2. Water fights, 3. Things with stripes, 4. Christopher Walken’s voice, 5. Rollercoasters. In Every Brilliant Thing, a young boy attempts to ease his mother’s depression by creating a list of all the best things in the world—everything worth living for. Through adulthood, as the list grows, he learns the deep significance it has on his own life. View Comments The 16-week limited engagement, directed by George Perrin, will open officially on December 14. Every Brilliant Thing previously played London and Edinburgh, as well as a U.K. tour. The North American premiere of Duncan Macmillan’s Every Brilliant Thing begins previews on December 6 at the Barrow Street Theatre. Jonny Donahoe, who co-wrote the play, stars in the off-Broadway production. Related Shows Every Brilliant Thing Show Closed This production ended its run on March 29, 2015last_img read more

20 ways to improve your chances of getting a job

first_imgDid you know that whether or not you get a job offer could depend on the first few minutes of a job interview? Intangible factors, such as chemistry or establishing rapport with the interviewer, are factors difficult to control. However, there are tangible factors you can control to ace your next job interview.20 Tips on How to Prepare for an InterviewDoing well at your interview can lead to the job offer you’ve always wanted. Here are 20 interview tips you should always remember:1. Dress the PartAn impeccable appearance will boost your confidence, according to Wendy Green, corporate coach and author of “50 Things You Can Do Today to Boost Your Confidence.” Prepare your interview attire days in advance.Also, make sure your outfit is dry cleaned and ready to wear. Dress in a manner that is appropriate for the role for which you are interviewing, ensure that your hair is tidy, and clean your fingernails. Keep jewelry, visible tattoos and piercings to a minimum. continue reading » 45SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Most hedge fund index returns explained by alternative beta – Towers Watson

first_imgJames Price, investment consultant at Towers Watson, said: “There might be some alpha in an individual strategy. However, when you start to collate the hedge funds together, the overall returns take on the properties of the opportunity set they are using.”Price said the exposures to alternative betas did vary, but that approximately 60-70% of the returns could be explained by combining alternative betas.“As an asset owner, you could access those alternative betas through other means,” he said.“We tried to think very carefully about how we use this, and make sure what comes through is logistically consistent, and replicate what could have been.”The research showed that, from 1999 to 2013, a minimum of 70% of HFRI composite returns could be explained by a combination of betas.However, the paper also highlighted additional diversification benefits provided by the use of alternative beta.The use of hedge funds in pension fund portfolios has commonly been for diversification benefits.However, with hedge funds using equity, value and macro strategies, the diversification away from traditional portfolios could be overstated.The correlation between alternative beta strategies, while providing additional and cheaper returns, could also add diversification benefits, Towers Watson said.Its analysis showed the average correlation coefficient between equities and credit to be around 0.59, with 1 meaning the two assets are perfectly correlated in returns and losses.However, the use of a foreign exchange carry strategy, another alternative beta category, and momentum equities only yielded a 0.03 coefficient.Equities and volatility premium strategies have a correlation of 0.22, and equities versus a value strategy was negatively correlated at -0.22.“They have very good diversification properties,” Price said, “especially compared with equities and bonds, which investors already own in their portfolios.“It’s a way of injecting additional diversification into a portfolio. It is important to think about these risks. There is many different ways to look at the portfolio, and alternative betas is a valuable additional tool.”Towers Watson said genuine alpha was a source of uncorrelated returns and worth its weight in gold.However, pension funds should consider the fees being paid for alpha, which can be achieved through beta strategies, it said.The paper added: “Over-diversified hedge fund strategies risk moving to industry-average returns and therefore closer to the returns that can be captured with beta. This is exacerbated when funds of hedge funds are used.” More than half of returns experienced by hedge funds could be explained by factors termed as ‘alternative beta’, rather than true alpha, research shows.Analysis from Towers Watson showed that, after studying an equity long/short strategy between 1996 and 2013, 84% of the returns, on an aggregate basis, derived from beta strategies.Within a equity long/short strategy, what the firm referred to as alternative beta was defined as the premium received for the volatility of equities, the momentum of stocks and the size of the equity investment.Looking at the HFRI Composite Index, the representative index for hedge funds, 84% of the returns could be explained by a combination of bulk and alternative beta strategies, the consultancy said.last_img read more

Stock-market recovery helps lift funding levels at KLM pension funds

first_imgThe results took the year-to-date returns for the three assets classes to 9.3%, 4.8% and 4.6%, respectively.The scheme’s interest hedge resulted in 4 percentage points of return over the past three quarters.Meanwhile, the €8.1bn pension fund for KLM ground crews returned 3.1% in the third quarter and 10.2% over the first nine months of the year.Its funding rose by 0.7 percentage point to 102.4% as of the end of September.Although its official policy coverage – the twelve-month average of its funding, and the criterion for rights cuts and indexation – dropped just below the required minimum level of 104.2%, the board of the Algemeen Pensioenfonds KLM said it saw no reason for a review of its asset allocation or de-risking measures.It pointed out that it only recently abandoned its tactical asset allocation while at the same time deciding to slightly reduce its emerging-market equity allocation.Lastly, the €8.3bn Pensioenfonds Vliegend Personeel KLM reported a quarterly return of 2.6% and a year-to-date result of 7.1%.While the pilot pension fund’s coverage improved over the third quarter, its policy funding fell by 2.1 percentage points to 115.5%, 8.3 percentage points short of its required financial buffer.The airline and VNV, a union for pilots, are locked in a legal dispute over whether the employer is obligated to plug this funding shortfall.The Pensioenfonds Vliegend Personeel KLM is also preparing a lawsuit against KLM after the airline cancelled the contract as a result of the same dispute. KLM’s three largest pension funds said they have benefited from improving equity markets, stabilising oil prices and “nearly stable” interest rates over the third quarter.All three schemes – whose assets are managed by Blue Sky Group – reported rising coverage ratios on the back of quarterly returns as high as 3.5%.The €2.9bn pension fund for cabin staff posted the best quarterly result, adding that its year-to-date return stood at 10.8% as of the end of September.The Pensioenfonds KLM Cabinepersoneel’s fixed income holdings returned 1.7% over the period, while equities returned 4.8% and real estate 1.6%.last_img read more