The Chicago Journal

“Hi, I’m Hakki”: A Radiant Tale of Triumph, Resilience, and the Unconquerable Human Spirit

Edward Anderson Edward Anderson on September 5, 2023

Venture into the enchanting realm of documentaries, and you’ll uncover a trove of narratives, each a mosaic of emotions waiting to be unveiled. Amidst these hidden gems, one story gleams like a beacon, casting a resplendent light on the very essence of human existence— “Hi, I’m Hakki.” In the hands of the visionary creator, Hakki Akdeniz, this documentary transcends mere storytelling, evolving into a living testament of unyielding faith, boundless compassion, and the unwavering resolve that resides within the human soul.

A Radiant Victory: Toronto Documentary Feature & Short Film Festival 2023

The profound and moving documentary film titled “Hi, I’m Hakki” is a masterpiece that showcases the remarkable power of the human spirit. The film revolves around the life of its creator, Hakki Akdeniz, who overcomes numerous challenges with unwavering determination and self-confidence. Throughout the documentary, themes of faith, compassion, and the innate resilience of the human spirit are interwoven to create a powerful symbol of hope in a world filled with obstacles. This inspiring and uplifting experience is a must-see for anyone seeking to be motivated and inspired by the incredible potential of the human spirit.

Through “Hi, I’m Hakki,” Hakki Akdeniz aims to ignite a spark within those who grapple with their own trials, offering a lifeline of encouragement to keep moving forward, no matter the odds. The documentary also acknowledges the power of unity and collaboration, thanking the organizations and individuals who rallied behind its potent message.

The Toronto Documentary Feature & Short Film Festival 2023 has recently recognized the exceptional success of a film that has captured the hearts and minds of viewers worldwide. Titled “Hi, I’m Hakki,” this powerful story of resilience and unity has left an indelible mark on audiences, demonstrating the immense impact that storytelling can have in illuminating the path forward, even during the most challenging of times. Its ability to resonate with individuals from all walks of life makes it a truly remarkable and inspiring work of art, one that will undoubtedly continue to be celebrated for years to come.

The documentary “Hi, I’m Hakki” has captivated audiences with the story of Hakki Akdeniz’s remarkable journey. This inspiring tale has garnered top honors at the Toronto Documentary Feature & Short Film Festival 2023, and it is not hard to see why. Through Hakki’s life experiences, viewers are shown the power of resilience, faith, and the unyielding spirit of someone who dares to dream beyond limitations. 

The impact of “Hi, I’m Hakki” goes beyond the screen, as it has the potential to inspire hope and renewal in a world that craves it. This documentary serves as a shining example of the transformative power of personal stories. It takes audiences on an emotional journey, reminding them that no challenge is too great and no dream is too bold. It is a true celebration of Hakki’s legacy, and we are honored to be a part of it.

For updates and insights, follow Hakki Akdeniz on Instagram and Facebook. Immerse yourself in the soul-stirring narrative of “Hi, I’m Hakki” on YouTube, and dive deeper into the journey on the official website.

How AI Is Changing the Onboarding and Up-Skilling of Talent: A Sit-Down with Josh Irmler, Founder of Landdai

Edward Anderson Edward Anderson on September 5, 2023

Generative AI is simplifying how we approach tasks that used to take hours to do. While schools, perhaps rightly so, remain concerned about how artificial intelligence will impact the quality of a student’s work, the outlook is more positive among the nation’s  workforce, whose productivity is increasing because of the technology. To understand this new trend, we dropped in to talk with Josh Irmler, the founder of Landdai and creator of its three generative AI apps that generate onboarding sessions, organizational materials, and presentation decks through the click of a button.

“We are seeing a real shift in how HR and L&D professionals do their jobs, all because generative AI is speeding up the creation of high-quality resources for onboarding and up-skilling talent,” says Irmler. “This is exciting on several levels: first, it’s just flat-out easier for them to produce engaging materials, and second, with the extra time during their day, they can either get ahead on other projects or optimize their departments.”

This is possible, he explains, because AI solves two issues commonly experienced by content developers, professional development managers, and instructional designers: creativity and design.

“In the past, you spent hours deciding on which order slides would go in, which colors would be used, and how words would be placed on the screen – and that’s if you knew what to write, which is a challenge for many people no matter how talented they are,” Irmler says. “The result was that presentations took a lot of time to make and didn’t quite click with new employees or truly communicate a company’s values. That’s all changing with Landdai’s AI program.”

Irmler, who has an extensive background in organizational development, spotted the problems and decided to use AI to solve them. To pinpoint the solution, he first collated a large amount of HR data and then consulted with top HR leaders, L&D experts, and instructional designers to train Landdai to create and deliver high-quality content. 

“We developed three apps that break the logjam and make the creation of materials flow more smoothly: our Slide Deck Presentation Generator, which creates a complete presentation after a user chooses a template and inputs their prompt; our Training Program Creator, which generates an entire session or program after a user selects an L&D template and types in a prompt; and our Landdai GPT, which enables an HR professional to receive on-demand, customized content,” he says. “With these AI tools, users can create, personalize, and present talent development resources faster and at scale.”

His engineering team is currently working on Landdai Courses, a fourth app that will create entire training courses, including assessments, interactive up-skilling exercises, immersive content, and quizzes and evaluations. The app is scheduled to be released in September.

“The big question is where generative AI will lead these industries,” Irmler speculates. “If an employee can use Landdai’s apps to drastically reduce the time it takes them to create materials, they will be free to accomplish other tasks for their companies. That’s the power of generative AI and why you are seeing it implemented at scale across America’s workforce. It really is the future of businesses here and around the globe.”

Josh Irmler is the founder of Landdai, a B2B AI SaaS in the corporate learning and development space. Landdai uses generative AI to create customized, high-quality instructional and up-skilling materials for training coordinators, elearning developers, development directors, and instructional designers. Through AI, Landdai is on a mission to help 10 million professionals accelerate their career and become more holistically successful.

For more information about Landdai and its generative AI apps, please see https://landdai.com/promo . 

Cal Coast Companies Announce Exciting New Project at Monarch Bay, San Leandro, CA

Edward Anderson Edward Anderson on September 5, 2023

San Francisco, CA  – Cal Coast Companies, is thrilled to announce their upcoming project set to launch later this year at the San Leandro Marina Park. This integrated master planned development, a public/private partnership with the City of San Leandro, promises to transform the 52-acre area surrounding the marina, into a vibrant and inclusive community space.

After a rigorous Request for Proposal (RFP) process in 2008, the City of San Leandro selected Cal Coast as the master developer for the ambitious redevelopment project. This redevelopment endeavor will encompass a comprehensive range of facilities and amenities, including a 285-unit multi-family apartment complex, a 220-key hotel, a 7,500-square-foot conference center, 200 units of single family housing and Townhomes, three new restaurants, a new community library, a 25-acre passive public park, and almost 2 miles of public promenade. These elements will seamlessly integrate with the existing restaurants, hotel, and marine facilities to create a cohesive and inviting environment.

The San Leandro Marina Park project holds tremendous promise for the local community and the region as a whole. It is estimated that the redevelopment will generate approximately 1,660 new jobs along the shoreline, providing a significant economic boost to the area. Moreover, the project’s emphasis on public amenities, such as the expansive passive public park and the public promenade, will create recreational opportunities and contribute to the overall quality of life for residents and visitors alike.

Rich Lamphere, recognized for his expertise in commercial and mult-family construction, expressed his excitement about the project, stating, “I’m honored and appreciative to be working with Cal Coast and the City of San Leandro on this transformative and ambitious project. The integrated master planned development at San Leandro Marina Park will not only enhance the local landscape, it will also create a vibrant community space that promotes growth, economic prosperity, and a sense of belonging.”

Cal Coast, known for their commitment to sustainable and innovative developments, is eager to contribute their expertise to this landmark project. Their dedication to creating inclusive and environmentally conscious spaces, aligns perfectly with the vision for San Leandro Marina Park.

The City of San Leandro is enthusiastic about the partnership and the tremendous potential this project holds for the community. The collaboration with Cal Coast promises to bring new opportunities, jobs, and a revitalized space for residents and visitors to enjoy. 

The launch of the San Leandro Marina Park redevelopment project is eagerly anticipated, and construction is set to commence later this year, or early 2024. With its integrated master planned design, the project will undoubtedly elevate the San Leandro community, offering a diverse range of amenities and contributing to the economic prosperity of the region.

For more information and updates on the San Leandro Marina Park project, please visit https://www.sanleandro.org/655/Shoreline-Development. 

About Cal Coast Companies:
Cal Coast is a leading real estate development company focused on creating vibrant, sustainable, and community-centric projects throughout California, particularly in Los Angeles and the Bay Area. Committed to delivering high-quality projects, Cal Coast aims to foster positive change and enhance the well-being of the communities it serves.

About San Leandro Marina Park:
San Leandro Marina Park is a public/private partnership project in collaboration with the City of San Leandro, and Cal Coast Companies. The integrated master planned development aims to transform the 52-acre area surrounding the marina into a thriving community space, offering an array of amenities and fostering economic growth.

About Rich Lamphere:
Rich Lamphere is a highly respected builder known for his commitment to excellence and transformative projects. With a wealth of experience in the industry, Lamphere has built a reputation for delivering innovative and sustainable developments that create a lasting impact.

Bitcoin mining effects on environment claims gets pushback

Edward Anderson Edward Anderson on September 5, 2023

Bitcoin — Bitcoin mining has significant environmental consequences due to its energy-intensive nature. The technique requires the solution of complex mathematical problems, which takes vast amounts of computing power and, as a result, massive amounts of electricity. Miners from all over the globe compete to validate transactions and safeguard the network, which usually entails the use of fossil-fuel-based power sources, which increases greenhouse gas emissions.

Furthermore, mining equipment needs a substantial quantity of resources, including rare metals and electrical components, both of which are ecologically hazardous to extract and create. These factors add up to a significant carbon footprint, increasing concerns about climate change. Alternative energy sources must be researched, energy efficiency must be increased, and mining facilities must be converted to more sustainable mining procedures in order to lessen the environmental impact of Bitcoin mining.

Such claims, however, have stirred controversy, with one expert saying that Bitcoin mining will actually help clean up the environment.

Read also: ChatGPT already presenting a challenge for schoolwork

Urge to denounce

GreenpeaceUSA’s claims that Bitcoin mining is a major cause of pollution and harm to society were recently refuted by an ESG-focused fund manager.

GreenpeaceUSA produced a study on Tuesday encouraging Bitcoin-friendly financial institutions (including BlackRock, Fidelity, and JPMorgan) to denounce Bitcoin’s environmental consequences. Instead, they urged them to use a “cleaner protocol” code that eliminates the mining industry.

“All of these companies have connections to Bitcoin and have failed to take meaningful action to solve the problem despite making climate and sustainability pledges,” wrote GreenpeaceUSA.

Defending Bitcoin mining

Daniel Batten, co-founder of CH4 Capital, concurred. He says that Bitcoin helps, not inhibits, environmental restoration.

“There is a growing weight of evidence from those most qualified to make the assessment to suggest that Bitcoin mining helps build out the renewable grid,” Batten wrote in a formal rebuttal.

Former interim CEO of the Electric Reliability Council of Texas Brad Jones has also commented on Bitcoin’s ability to make renewable energy sources more viable, fundable, and dependable. GreenpeaceUSA’s calculations and figures used to demonstrate Bitcoin’s environmental effect, according to the co-founder of CH4 Capital, are equally inaccurate and dishonest.

GreenpeaceUSA, according to Batten, is predicated on irrational fears about the future rather than evidence. He slammed the research, accusing it of using inflammatory rhetoric. According to GreenpeaceUSA, coal is the primary motor of the mining sector. There are 41 recognized sustainably powered mining operations, according to Batten, with only one manufacturing coal-related commodities.

The fears

Bitcoin’s environmental impact is becoming a major concern because of its resource-intensive mining process. Bitcoin mining requires a significant amount of energy, resulting in a high power consumption. Unfortunately, this typically means a greater reliance on fossil fuels, which increases carbon emissions and exacerbates climate change issues. Mining technology also includes the extraction of rare metals and other resources, which puts further strain on the ecology.

Because of the combination of these traits, bitcoin mining has a large environmental impact. It is critical to study alternative energy sources, enhance energy efficiency in mining operations, and implement more ecologically friendly practices to mitigate the environmental consequences of Bitcoin’s popularity.

Mining today

Despite the fact that the co-founder of CH4 Capital provided statistics demonstrating how Bitcoin emissions have reduced over time, GreenpeaceUSA just stated that allowing Bitcoin to run its course will increase its environmental impact.

“Emissions are falling despite rising hashrate due to decimation of mining in Kazakhstan and other coal-based grids,” Batten explained.

He highlighted how, for example, miners in Texas had moved to more ecologically friendly networks. Furthermore, according to Batten, some companies have switched from coal-based standards to wind-based standards, as well as flare-gas mining, decreasing the overall net emissions of the Bitcoin network.

CH4 Capital invests in companies that plan to mine Bitcoin with pure landfill gas that would otherwise be burned and release methane into the atmosphere. As a result, their strategy supports both the environment and the bottom line.

“Our $400 million fund will have sufficient dry powder to finance the Bitcoin network, abating more emissions than it’s creating, which can end ESG FUD, the major remaining barrier for both retail and institutional adoption,” said Batten.

Reception to GreenpeaceUSA

After receiving a $5 million grant to increase awareness of the mining industry’s concerns, GreenpeaceUSA launched its campaign in 2022.

As a result, the Bitcoin community has turned against the company. Batten and Ripple backer Chris Larsen both declined to comment on their campaign.

“I’ll let people make up their own mind about the intentions of a chair of another altcoin giving a large sum of money to help an NGO attack a rival form of cryptocurrency in Bitcoin,” said Batten.

Retirement is now pricier, according to a new survey

Claire Peterson Claire Peterson on September 5, 2023

Retirement — Americans’ retirement savings needs vary depending on their lifestyle, location, and personal aspirations.

However, it is typically recommended that you aim for a retirement fund that is 70-90% of your pre-retirement income.

A $52,000 annual salary suggests a retirement savings target of $1.05 million.

This involves saving and investing wisely, as well as perhaps relying on employer-sponsored retirement plans such as 401(k)s and IRAs.

Seeking professional financial advice and reevaluating retirement goals on a regular basis can help individuals customize their savings strategy to their own circumstances.

However, several financial disasters have occurred as a result of the recent economic crisis and inflation.

As a consequence, Americans would need to save $1.27 million to qualify for a decent retirement.

Read also: Investors behavior now leaning towards regional bank stocks

The increase

According to a Northwestern Mutual poll, the typical American will need $1.27 million to retire.

The values are $1.25 million more than those found in the 2022 research.

Between February and March, the financial services firm polled 2,740 people via an online survey.

The survey found that respondents in their 50s will need more than $1.5 million to retire.

People in their 60s and 70s, on the other hand, have set a goal of less than a million dollars.

According to Akao Patel, a certified financial advisor and Northwestern Mutual asset management specialist headquartered in Chicago, it is not surprising that retirement expectations have climbed while inflation remains high.

If Americans retire at 60 and want to live beyond 100, they must plan for the following 40 years, according to Patel.

“It’s not just about your expenses, but it’s also the mentality of feeling assured that you can spend money throughout retirement,” he added.

Savings & retirement goals

Many persons of all ages stated that their current retirement savings were insufficient to meet their million-dollar objectives.

They reported an average savings of $89,300, a 3% rise over 2022.

Meanwhile, persons approaching retirement in their 50s saved a median of $110,900.

People in their 60s and 70s saved an average of $112,500 and $113,900.

According to the research, older people are modifying and minimizing their expectations about how much money they must earn to get older, and they wish to work longer hours.

According to the poll, the average American plans to work until the age of 65, which is older than the age of 64 in 2022 and 62.6 in 2021.

Boomers were also discovered to be the most likely to work until the age of 71, followed by Generation X (65), millennials (63), and Generation Z (60).

Concerns

While 44% of retirees are concerned about their health, the vast majority are concerned about their financial situation.

Cerulli Associates reports that 58% of retirees and savers are concerned about outliving their investments.

Many individuals are focused on calculating how much money they should set aside.

Winnie Sun, managing director and founding partner of Sun Group Wealth Partners, stated:

“A lot of people get so overwhelmed that the number is so big that they have to save this much by this age.”

Calculating the ‘magic number’

According to Patel, understanding one’s income needs is more important than focusing on a huge retirement target amount.

They may examine their credit card and bank statements to see where their money is going.

“By multiplying your estimated annual budget – for example, $100,000 – by a factor of 25, you may arrive at a generic lump sum you may need to cover your retirement years which, in this example, would be $2.5 million,” said Patel.

He also suggested that people cut back on their spending in order to meet their retirement commitments.

Sun, on the other hand, stated that in order to help individuals reach greater goals, she breaks them down into smaller pieces of action, such as a month-long debit or credit card ban to allow for better financial management.

“That will give them a sense of how much they’re spending,” she explained.

Sun also uses a savings test to determine a savings target for the following three months.

“If we put pressure to have them do it sooner, even when they think they’re not ready, it will help develop better patterns long term.”

Three expenses

In the words of Akao Patel, everyone has three types of expenses:

  • Mundane costs – groceries, property taxes, utilities
  • Discretionary expenses – vacation
  • Aspirational spending – anniversary trips or children’s wedding

“As you think about retirement, in an ideal world, you would have enough guaranteed zero-risk income to cover your guaranteed expenses,” he said.

Patel also advised retirees to consider looking into annuities.

People may be more willing to take risks in other areas of their portfolio if their monthly expenses are covered by guaranteed income.

Mortgage rate hit 6.9% in new report

Leah Cooper Leah Cooper on September 5, 2023

Mortgage — The economy has been in turmoil since the Covid pandemic erupted in 2020, with inflation wreaking havoc in 2022. As a result, many firms have felt the effects of the Federal Reserve’s continued efforts to contain inflation. Inflation persists, despite small respites.

One of the most evident issues in today’s economic landscape is the rise in mortgage rates.

According to statistics issued on Thursday, interest rates rose for the third week in a row. However, one critical aspect of growing rates is that it remains below 7%.

Read also: Retirement is now pricier, according to a new survey

The news

According to new Freddie Mac data released on Thursday, the 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10. It has increased over the 6.90% level released a week ago, according to the most current figures. In 2022, the 30-year fixed-rate mortgage was significantly lower, at 5.22%.

The Federal Reserve’s historic rate hike campaign has resulted in rising mortgage rates, driving down affordable housing to its weakest point in decades.

Those intending to buy a home may realize that the added cost of financing the mortgage makes it difficult on the wallet. Furthermore, homeowners who were able to obtain lower mortgage rates are now unwilling to sell their homes. As a result, prospective buyers must pick between a restricted supply and a high price.

Since the end of May, rates have been over 6.5%. The most recent average rate reached an all-time high in November.

“There is no doubt continued high rates will prolong affordability challenges longer than expected,” said Freddie Mac.

“However, upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.”

The average mortgage rate is derived from the receipt of mortgage applications from a range of lenders across the United States by Freddie Mac. Consumers with excellent credit who paid down 20% are included in the poll.

Employment and inflation data

The rate stayed high this week as the Federal Reserve announced that its July monetary policy meeting would be focused on employment and inflation data.

Markets awaited the release of July inflation data on Thursday morning, which revealed that inflation jumped to 3.2% year on year, up from 3% in June. According to the latest figures, this was the first increase in inflation since 2022. Furthermore, according to the report, housing expenditures accounted for 90% of the overall increase in inflation last month.

“July’s Consumer Price Index holds significant importance for the Fed’s upcoming decision,” said Realtor.com economist Jiayi Xu.

Xu went on to caution that the Fed’s concern about inflation persisting longer than expected may be compounded by faster price increases. The Federal Reserve will also examine the incoming August employment and inflation statistics before the next policy meeting in September.

Furthermore, according to Xu, the most recent job numbers provided inconsistent signals regarding the labor market, since fewer net new jobs were added yet the unemployment rate declined.

“While July’s jobs report itself is very unlikely to have a direct impact on the Fed’s upcoming decision, the decline to a 3.5% unemployment rate may imply that more significant slowing is needed to align with the Fed’s projected year-end rate of 4.1%,” she said.

Mortgage affordability problems persist

Borrowing costs will continue high until the Federal Reserve sends the “all clear” signal to financial markets, according to Keeping Current Matters senior economist George Ratiu.

Although the Fed is not directly accountable for mortgage interest rates, it does have considerable power. Mortgage rates, for example, track the 10-year US Treasury yield, which fluctuates in reaction to Fed activities, what they do, and how investors react.

Mortgage rates rise when Treasury yields rise, but decline when yields fall.

Mortgage rates, according to Ratiu, are presently higher than they should be in contrast to the 10-year Treasury. He also mentioned that the interest rate difference between a 30-year fixed-rate mortgage and a 10-year Treasury note is about 300 basis points. Only a few times in the previous 50 years has the quantity been seen, generally during periods of substantial inflation and economic turbulence.

“In the absence of the elevated risk premium and hewing closer to a historical average of 172 basis points, today’s 30-year fixed mortgage rate would be around 5.7%,” said Ratiu.

According to the Mortgage Bankers Association, homebuyers are still apprehensive about increasing interest rates, as seen by a drop in mortgage applications last week.

“Due to these higher rates, there was a significant pullback in mortgage application activity,” said MBA president and CEO Bob Broeksmit. “Both prospective buyers and sellers are feeling the squeeze of higher rates as well as low housing inventory, which has prompted a pronounced slowdown in activity this summer.”

Existing home sales have stayed steady, according to George Ratiu, despite real estate markets benefiting this year from more people finding jobs and earning more money.

“The challenge comes mainly from too many buyers chasing not enough available properties,” he added.

Using historical data, Ratiu discovered that mortgage rates often decline six to eight months following the end of inflation.

Investors behavior now leaning towards regional bank stocks

Leah Cooper Leah Cooper on September 5, 2023

Investors — Despite the fact that the United States is in the grip of a financial crisis, Wall Street is rushing to buy bank stocks.

The tendency shows that cheap pricing, even when triggered by the fear of an approaching collapse, entices customers to invest in a particular industry.

Early trading

In January and February, individual investors purchased more than $20,000 in First Republic Bank (FRC) shares every day.

Following the liquidation of Silicon Valley Bank on March 10, the daily average increased to $10.3 million on April 10, according to VandaTrack.

Clients of the TD Ameritrade Investment Movement Index made net purchases at First Republic Bank in March, according to the index.

Concerns about the banking system’s overall viability, as well as uninsured deposits, resulted in a more than 88% decrease in the company’s value.

Despite the fact that it is still early, the optimism has yet to bear fruit.

Upticks

The stock price of First Republic has dropped to $15, down from $115 to $145 in early 2023.

PacWest Bancorp (PACW) observed a surge in post-SVB retail net purchases of its shares to an average of $2.9 million per day, up from $0 in early 2023.

The regional bank has also suffered as a result of the current disaster.

Buyers got a good bargain, paying $9 per share for a firm that was previously valued at around $30.

The average daily net buy of the SPDR S&P Regional Banking ETF, which invests in a small number of mid-sized banks, has risen to $3.9 million.

The commerce has developed swiftly from net sales of $120,000 in the first two months of 2023.

Regional banks, on the other hand, are not the only ones who have suffered.

According to VandaTrack data, individual investors were flocking to large bank shares such as:

  • Bank of America (BAC)
  • Citi (C) Group
  • JPMorgan Chase (JPM)
  • Wells Fargo (WFCPRL)

According to TD Ameritrade, retail investor purchasing interest in the banking business has decreased by around 10% over time.

According to Marco Iachini, senior vice president of research at VandaTrack, individual investors were seeking a way to profit from the banking industry’s resurgence.

He further asserted that institutional investors, or “smart money,” were withdrawing funds from riskier regional bank stocks.

Concerns

Last week, JPMorgan CEO Jamie Dimon cautioned that the banking crisis was far from finished.

He also cautioned that the crisis’s consequences will be seen in the coming years, casting doubt on investors’ expectations for substantial increases in regional bank shares.

Iachani classed it as speculative and cautioned that it might be risky for average investors.

Retail inflows into bank equities have been strong, but have slowed since mid-March.

“That tells me retail capital isn’t here to stay,” said Iachini.

He also claimed that no major healing had yet occurred.

Instead, we’re witnessing a watered-down version of what occurred early in the epidemic, when ordinary investors backed meme stocks.

Read also: Walmart will trust automation to improve profits

Japan trading houses

Warren Buffet, the “Oracle of Omaha,” has moved his focus to Japan.

Buffet told the Japanese news site Nikkei on Tuesday that he intends to invest in Japan.

Berkshire Hathaway announced in August 2020 that it has acquired a 5% investment in the following companies:

  • Itochu
  • Marubeni
  • Mitsubishi
  • Mitsui
  • Sumitomo

In November, Buffet extended his holdings in Japanese financial “trading houses.”

Because of the immense complexity of Japanese trading firms, which have branch offices all over the world, and their involvement in the following:

  • Financing
  • Importing/exporting
  • Investing
  • Trading

Japanese businesses are likewise notoriously secretive about their operations.

On the other hand, Buffet remarked on Wednesday that he is unconcerned about the problems associated with investing in them.

“We feel that these five companies are a cross section of not only Japan, but of the world,” said the Oracle of Omaha.

“They are really so much similar to Berkshire. They own a lot of different things.”

This week, Warren Buffet intended to visit all five firms to evaluate their operations and express his support.

Buffet would also like to invest in other Japanese enterprises.

“At the moment, we only own the five trading companies,” he said.

“There are always a few I’m thinking about.”

The stock prices of the five firms increased following the interview.

Caution

On Tuesday, Chicago Fed President Austin Goolsbee addressed the collapses of Silicon Valley Bank and Signature Bank, as well as the subsequent volatility.

“At moments of financial stress like this, the right monetary policy is really caution and watchfulness and prudence,” said Goolsbee.

“And I don’t say that because I think we should stop prioritizing the fight against inflation just because the markets got upset.”

He also emphasized the importance of monetary policy beyond financial difficulties, saying:

“History has taught us that in moments of financial stress, even if they don’t escalate into a crisis, they often mean tighter credit conditions and have a material impact on the real economy in a way that the Fed absolutely needs to take into account when setting monetary policy.”

…

Scoliosis: what is it and how can you treat it?

Edward Anderson Edward Anderson on September 5, 2023

Scoliosis — Scoliosis is a condition in which the spine bends abnormally sideways, forming a C or S shape.

It can occur in children, adolescents, or adults and can be congenital, idiopathic (for unknown reasons), or associated with other diseases or injuries.

Symptoms might range from misplaced shoulders or hips to back pain and visible deformity.

A physical examination and imaging studies are utilized to make a diagnosis.

Treatment methods may include monitoring, bracing, physical therapy, exercise, pain management, or surgery, depending on the severity.

Early detection and treatment are crucial for successful scoliosis management.

How to identify scoliosis

Scoliosis can be identified by uneven shoulders or hips, asymmetry of the back, apparent deformity, or bending to one side.

As a result of the incorrect curvature of the spine, a person may have back pain or muscle imbalances.

Assume you or someone you know is experiencing any of the following symptoms.

In this case, it is vital to get medical attention from a healthcare professional who can do a physical exam and order imaging tests to confirm the diagnosis.

Controlling scoliosis and preventing consequences requires early detection and treatment.

Dangers of scoliosis

Scoliosis is not necessarily deadly, but it can have a significant impact on a person’s quality of life.

In severe situations, scoliosis can cause pain, discomfort, and deformity, leading to mental anguish, self-consciousness, and a reduced capacity to participate in physical activities.

Awkward spine curvature can also impede lung function and cause breathing issues, especially if it involves the ribs.

Furthermore, if left untreated, scoliosis can develop and expand, increasing the risk of complications.

In severe circumstances, scoliosis can induce spinal cord compression, nerve damage, and even paralysis.

As a result, early detection and treatment are crucial for avoiding development and controlling symptoms successfully.

Children and teenagers are especially vulnerable to the negative effects of scoliosis because abnormal curvature can hinder growth and development.

As a result, it is vital that parents, teachers, and healthcare professionals understand the signs and symptoms of scoliosis and seek quick medical attention if they suspect their child is suffering from it.

Read also: Uber Promotes Safe E-biking with New Trade-in Program

Letting it run undiagnosed

Scoliosis can progress and become more severe over time if left untreated.

This can result in a variety of unfavorable outcomes, including increased pain and discomfort, reduced mobility, and visible deformity.

In severe situations, scoliosis can cause spinal cord or nerve root compression, resulting in neurological symptoms such as numbness, tingling, or paralysis in the arms or legs.

Scoliosis can also impact lung function, resulting in breathing problems and decreased exercise capacity.

Misdiagnosed and untreated scoliosis can result in mental distress and a reduced quality of life over time.

As a result, it is vital to get medical attention if you suspect you or someone you know has scoliosis.

What to do when it gets bad

If you are experiencing significant discomfort as a consequence of undiscovered scoliosis, it is vital that you get medical attention from a healthcare professional as soon as possible.

Pain management approaches include over-the-counter pain relievers, physical therapy, and other conservative therapies for discomfort.

Rest, avoiding aggravating activities, and maintaining appropriate posture may all be useful.

However, it is vital to address the underlying cause of the pain by acquiring an accurate diagnosis and developing a treatment plan tailored to your specific condition.

Delaying therapy for scoliosis can result in increased discomfort and serious difficulties, therefore it is vital to get medical help as soon as possible to address the pain and manage the condition effectively.

Treatment

Treatment techniques for scoliosis vary based on the degree of curvature and may include:

  • Monitoring
  • Bracing
  • Physical therapy
  • Exercise
  • Pain management
  • Surgery

If scoliosis is detected early, conservative therapies such as physical therapy and bracing may prevent further curvature progression.

Physical therapy can help you improve your posture, increase your flexibility, and strengthen the muscles that support your spine.

Bracing can also help to stop further progression in some cases, especially in children and adolescents who are still growing.

While conservative treatments are usually used to treat scoliosis, surgery may be necessary in severe cases to correct the curvature and stabilize the spine.

Early detection and treatment are crucial for effectively treating scoliosis and preventing potential complications.

Mark Meadows Defends Actions as White House Chief of Staff Amid Indictment Allegations

Claire Peterson Claire Peterson on September 5, 2023

Exploring Meadows’ Testimony Regarding Alleged Improper Actions and Political Motivations

In a recent courtroom appearance, Mark Meadows, the former White House chief of staff under then-President Donald Trump, provided extraordinary testimony defending his actions detailed in a sweeping indictment. This indictment accuses him of participating in an alleged illegal conspiracy to overturn Trump’s 2020 election loss. Meadows asserted that the actions mentioned in the indictment were all part of his responsibilities within his role as chief of staff. This testimony occurred during the initial legal proceedings of a case that is expected to have substantial implications. The central argument of Meadows’ testimony was to advocate for moving the case from state court to federal court, a decision that U.S. District Judge Steve Jones is yet to make.

Analyzing the Impact of Claims

Meadows highlighted the challenging circumstances during the aftermath of the 2020 election, characterized by claims of widespread election fraud. He asserted that these claims diverted attention from necessary presidential duties and initiatives. Consequently, he took actions to address the allegations and determine their validity, some of which are currently under scrutiny by prosecutors. Meadows stated that he firmly believed that his actions fell within the scope of his role as chief of staff and were aligned with his responsibilities.

Context of the Case and Legal Perspectives

Fulton County District Attorney Fani Willis utilized Georgia’s racketeering law to bring forth the case against not only Meadows but also Trump and 17 others. The allegation is that they participated in a far-reaching conspiracy to unlawfully maintain Trump’s presidency after his election defeat to Democrat Joe Biden. Willis’ contention revolves around the argument that Meadows’ actions were driven by political motivations rather than being executed as part of his official duties.

A Comprehensive Legal Examination

During the courtroom proceedings, Meadows’ attorney, George J. Terwilliger III, summoned Meadows to the stand and inquired about his role as chief of staff. Terwilliger then systematically explored the acts mentioned in the indictment, seeking to establish whether Meadows considered them part of his official duties. For the majority of these actions, Meadows attested that he carried them out in line with his role as chief of staff.

Prosecution’s Challenge

During cross-examination, prosecutor Anna Cross aimed to extract insights into the federal policies advanced by Meadows’ alleged actions. While Meadows repeatedly cited the federal interest in ensuring accurate and fair elections, Cross asserted that his responses evaded her direct questions.

Divergent Legal Interpretations

Prosecutor Donald Wakeford contended that the provision allowing the transfer of a case from state to federal court exists to safeguard federal authority. He argued, however, that in this instance, there was no federal authority at stake due to the explicitly political nature of Meadows’ actions. Wakeford referred to the Hatch Act, which restricts partisan political activities by federal employees, suggesting that Meadows’ actions were potentially in violation of this law.

Anticipating the Legal Outcome

Meadows’ defense attorney, Terwilliger, maintained that a state indictment should not influence the execution of a chief of staff’s duties. He emphasized that even in the case of mistakes, a transfer to federal court should only occur if there was a demonstration of malicious intent.

As the legal proceedings continue, the implications of this case extend beyond Meadows himself. The outcome could influence the legal interpretation of the roles and actions of high-ranking government officials during contentious periods.

DraftKing to bag a win with Super Bowl’s betting scene

Claire Peterson Claire Peterson on September 5, 2023

DraftKings – Nowadays, gambling is legal in many places, especially when it includes sports.

Super Bowl LVII is conceivably the biggest event now occurring in the gambling industry.

High stakes

The American Gaming Association predicts that more than 50 million wagers totalling more than $16 billion will be placed before the Philadelphia Eagles vs. Kansas City Chiefs NFL game.

Because of the importance of the game, the following giants of the gambling industry had the possibility to bring in more customers:

  • DraftKings
  • FanDuel owner Flutter Entertainment (PDYPF)
  • MGM
  • Caesars (CZR)
  • Wynn (WYNN)

The event also had an impact on various sports betting businesses’ stock valuations, with some of their shares improving in 2023 as the market as a whole rallied.

However, a few of the shares are still recouping some of their big losses.

Stock progress

Over the past year and the previous, DraftKings experienced declines of 30% and 75%, respectively.

Barstool Sports is still owned by Caesars and Penn Entertainment (PENN), despite a 40% value decline from the prior year.

Rush Street Interactive, the parent firm of BetRivers, had a decline of more than 65% over that time.

Each business invested significantly in pricey advertising initiatives.

While Jamie Foxx has been in MGM advertising, Kevin Hart has been seen endorsing DraftKings.

Caesars has received endorsements from JB Smoove and the Manning family in television commercials.

Sportsbooks have also started to spend money on promotional initiatives like “free bets.”

Two birds and one stone

Providers of sports betting now have to use strategies that achieve two objectives at once:

  • Gain new customers
  • Restore investors’ confidence

But MGM presently has the upper hand over its competitors.

Only one physical sportsbook is staffed at its BetMGM location for the NFL game. BetMGM is a 50/50 joint venture between the major Las Vegas casino and UK gambling provider Entain.

The Phoenix Stadium relocated there in 2022, taking over the area next to State Farm Stadium, the previous home of the Chiefs and Eagles.

There is no denying that gamblers have placed wagers using mobile devices.

The CEO of BetMGM, Adam Greenblatt, emphasized that activity at the sportsbook should move quickly both before and during the game.

“We have prepared for this Super Bowl like never before, said Greenblatt.

“We are staffing up for a lot of demand.”

Read also: United Airlines among many set for a good year

Marketing opportunity

In the 17,000 square foot sportsbook next to the stadium, according to Greenblatt, there are 38 HD TVs and a sizable display wall where bettors can watch the game.

To encourage fans to wager on the game, there are 25 betting incentives.

According to Adam Greenblatt, having a real presence at the Super Bowl presents a significant marketing opportunity in a market where websites like DraftKings, FanDuel, and other bookmakers compete.

He wants people to download the BetMGM app, create an account, and place bets at the sportsbook on Sunday.

By reminding participants that MGM is a respected casino brand rather than a start-up like DraftKings, FanDuel, or Barsteel, Greenblatt emphasized the significance of marketing.

“We’re fun and sophisticated. Ocean’s Eleven. That was an MGM experience,” he said, reminding people it was the MGM Grand in the 2001 film.

“We want to be both aspirational but also accessible.”

Sports betting companies vs. casino companies

Even if there is competition, people who are new to the sector are not excessively concerned about casino operators.

Amy Howe, CEO of FanDuel, asserts that with sports betting being permitted in Ohio, Maryland, and Kansas in 2022, there will be lots of room for expansion.

“This should be the single biggest day in FanDuel’s history,” Howe said.

She said that for Super Bowl LVII, FanDuel expected 17 million bets, or more than twice as much as those made on the Super Bowl in 2022.

Howe claims that FanDuel expects the betting to attract over 500,000 new clients who will gamble on the game, particularly as more women do so.

Jason Robins, the CEO of DraftKings, thinks that bookmakers have realized they cannot continue to invest in expensive promos.

“If anything, the competition now is less intense than last year,” said Robins.

“Last year was the peak. It was somewhat irrational.”

Businesses like DraftKings used to face sanctions from Wall Street for striving to increase their market share at any costs.

“Investor tolerance for the types of undisciplined spending during the NFL season last year has waned,” said Robins. “Investors want to see a path to profitability.”

“That’s different from 2021 when customer growth was being rewarded.”

More Super Bowl LVII advertising is still anticipated from FanDuel and DraftKings.

NFL player Rob Gronkowski’s field goal for the FanDuel ad was touted the “kick of destiny,” while Kevin Hart is the subject of another DraftKings commercial.

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