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With aviation in the news, Florida Tech's Shem Malmquist offers insight and clarity
Recent news on the safety of airlines in America has detailed tragic fatalities, airplanes flipping over and some crashing into prominent city streets, which has shone a less than flattering light on what is supposed to be a safe industry. Given recent events, Florida Tech College of Aeronautics visiting assistant professor Shem Malmquist has appeared in high-profile interviews on both current and historic aviation incidents. Recently, he spoke with the Boston Globe, Rolling Stone and the news platform FedScoop to lend his insight and expertise as a pilot. Officials have repeatedly warned about a shortage of air traffic controllers. Pilots have made up for that gap by accepting visual approaches and separation from other airplanes to relieve some of the workloads off controllers, said Shem Malmquist, a pilot and visiting instructor at the Florida Institute of Technology, who teaches courses on aviation safety. He noted that was “part of the problem” with the D.C. collision. Still, flying remains safe because “pilots are overcoming the challenges in the system to prevent accidents,” Malmquist said. “Random distribution can create clusters like this. ... That doesn’t mean there’s more risk.” February 21 - Boston Globe One former pilot told FedScoop that the system can be overpopulated with notices, only some of which might be important for a pilot to understand before taking off. Still, there’s generally no automated way of sorting through these notices, which means they can be incredibly long and difficult to completely process before flights. The notices themselves are densely written and use terminology that is often not immediately discernible. An example provided by the FAA shows the notices’ unique format. Textual data can also limit the ability to modernize the NOTAM system, an FAA statement of objectives from 2023 noted. Shem Malmquist, a working pilot who also teaches at Florida Tech’s College of Aeronautics, said the entire NOTAM system “migrated from color pipe machines,” which locked in “certain abbreviations and codes” beyond their point of usefulness. “It’s really great for computers, which is kind of funny because it was created before computers,” Malmquist added. “But it’s … not really very user friendly for the way humans think.” February 21 -FedScoop Recently, Malmquist was featured on National Geographic's TV series, "Air Crash Investigation." There, he spoke about the China Eastern Airlines Flight 583 crash investigation from 1993. Looking to connect with Shem Malmquist regarding the airline industry? He's available. Click on his icon to arrange an interview today.
Data Analysis: Commercial Real Estate Troubles Threaten U.S. Banks
The U.S. banking system is on a precipice as exposures to commercial real estate grow and banks grapple with high interest rates, according to an analysis by a finance professor at Florida Atlantic University. Of the 158 largest banks, 59 in the country are facing exposures to commercial real estate greater than 300% of their total equity capital, as reported in the fourth quarter 2024 regulatory data and shown by the U.S. Banks’ Exposure to Risk from Commercial Real Estate screener. “Regulators have been putting pressure on banks to reduce their exposures. However, it’s a very difficult thing to do without sending a signal of weakness to the market and creating more problems,” said Rebel A. Cole, Ph.D., Lynn Eminent Scholar Chaired Professor of Finance in FAU’s College of Business. “To get around this, many banks are ‘extending and pretending’ by restructuring their loans.” The U.S. Banks’ Exposure to Risk from Real Estate screener, a part of the Banking Initiative at Florida Atlantic University, measures the risk to exposure from commercial real estate at the 158 largest banks in the country with more than $10 billion in total assets. Using publicly available data released quarterly from the Federal Financial Institutions Examination Council (FFIEC) Central Data Repository, Cole calculates each bank’s total CRE exposure as a percentage of the bank’s total equity. Bank regulators view any ratio over 300% as excess exposure to CRE, which puts the bank at greater risk of failure. Troubled debt restructuring for commercial construction, multifamily, owner-occupied and owner-non-occupied mortgages tripled since 2023. They reached $18 billion in the fourth quarter of 2024, up from $6 billion in Q2 2023, according to data from the FFIEC. While non-owner occupied nonfarm, non-residential accounts for more than half of these amounts, there is also serious deterioration in multifamily and commercial construction loans. “Banks choose to extend these loans, hoping interest rates might drop. While the Fed did cut rates,” Cole said. “If a loan is maturing from five years ago in today’s rate environment, rather than refinance it with today’s terms, they will restructure the loan under the same terms from five years ago for another year. This all depends on interest rates falling, which is not likely to happen this year.” Among banks of any size, 1,788 have total CRE exposures greater than 300%, up from 1,697 in Q3; 1,077 have exposures greater than 400%, up from 971 in Q3; 504 have exposures greater than 500%, up from 426 in Q3; 216 have exposures greater than 600%, up from 166 in Q3. For comparison, the aggregate industry total CRE exposure is 132% of the total, unchanged from the third quarter of 2024. Looking to know more? We can help. Rebel Cole is available to speak with media about commercial real estate and the potential threats to the American banking system, Simply click on his icon now to arrange an interview today.
Spring break could compound West Texas measles outbreak
Most Texas schools go on spring break this week, which could be a major issue compounding the ongoing measles outbreak in West Texas, said Jennifer Horney, an epidemiologist at the University of Delaware. The outbreak, which has grown to more than 200 cases and claimed the life of a child last week, is likely to continue to grow as new cases are identified in both surrounding communities as well as other states, Horney said. Horney, founding director of UD's epidemiology program, can also comment on vaccination of measles, which is one of the most highly contagious infectious diseases. • Through maintenance of vaccination coverage of greater than 90%, the U.S. was able to gain eradication status in 2000. • Although there have been sporadic cases, and even outbreaks, since then, worsening vaccine hesitancy has led to vaccination rates in some communities of 80% or lower. • According to data, of 20 outbreaks involving three or more cases reported in the last five years, 40% were in 2024. With outbreaks currently in at least nine states in the U.S., 2025 looks to be a very bad year for measles infections. Visit Horney's profile below and click on "contact" to arrange an interview.
With a trade war that sees steep tariffs on imports from China, Canada and Mexico - various industries across the continent are scrambling to figure out how to conduct cross-border business in the wake of President Trump's new policies on trade. For many industries with production lines that crisscross the border, there's concerns about how to prosper or function in the future. Among Detroit brands, GM's Chevrolet and GMC pickups, along with Stellantis's Ram, are more exposed to Trump's taxes than Ford because both build large numbers of pickups in Mexico. Ford builds its F-series pickups in the United States - but also makes some truck engines in Canada, underscoring the web of economic interdependence among the three North America trading partners. Almost no American vehicle is made from solely American parts, industry research shows. Barclays bank analysts estimate that Mexico provides up to 40% of the parts in U.S. vehicles and Canada more than 20%. Suppliers say they will have to cover some of the tariff costs and will likely see an additional hit if consumer demand weakens from rising vehicle prices. Automakers and suppliers also worry about the effects of tariffs on vehicle components that bounce across borders before reaching their final destination. Companies worry that such parts could be taxed with every border crossing, although Trump has not clarified his policy in such cases. March 05 - Reuters Industry insiders are saying companies need to adapt their strategies immediately. To become more agile, companies are increasingly turning to advanced supply chain solutions. Modern platforms provide end-to-end visibility, helping businesses map complex, inter-connected supply chains made up of multiple tiers and assess risks associated with tariffs or regulatory changes. These tools enable companies to model the financial impact of different scenarios, offering data-driven insights for supplier diversification or regional sourcing strategies. March 06- Supply Chain Management Review Despite the 30 day reprieve for automakers, companies are still waiting and figuring out how to adapt. If you're a journalist covering tariffs and the trade war and how the supply chain might be impacted, Steven Carnovale can help. Steven is a supply chain strategist specializing in interfirm networks, risk management and global sourcing/production networks. Steven is available to speak with media. Simply click on his icon now to arrange an interview today
Exploring the ripple effect: How teachers' emotions impact student engagement and learning outcomes
The classroom environment is a dynamic ecosystem where the emotional state of educators can significantly influence students' engagement and learning outcomes. In a new article published in Contemporary Educational Psychology, University of Delaware Associate Research Professor Leigh McLean offers a new tool—the Teacher Affect Coding System—for measuring teachers’ emotional expressions and studying how these expressions affect their students’ attitudes toward learning. With co-author Nathan Jones of Boston University, McLean uses this tool to gather new data showing emotional transmission between teachers and their students in fourth-grade classrooms. In the study, McLean and Jones, found that teachers displayed far more positive emotions than negative ones. But they also found that some teachers—about 10%—displayed notable amounts of negative emotions, with some showing negativity during as much as 80% of their instructional time. The students of these teachers reported reduced enjoyment and engagement in their ELA classes and reduced engagement in their math classes. Given the findings of their study, McLean and Jones make several recommendations for teacher preparation and professional learning programs. As a first step, they recommend that teacher preparation and professional learning programs share information about how negative emotions and experiences are a normal part of the teaching experience. As McLean said, “It’s okay to be frustrated!” McLean is available for interviews on the study, the tool and how teachers can help mitigate this effect. Click on her profile to contact her.
Managing cyber risk is no longer a technical necessity but also a strategic imperative in global business. As companies are more interconnected and reliant on artificial intelligence (AI), the Internet of Things, and the rest of the digital ecosystem, they are exposed to greater opportunities and risks. In this video, Senior Managing Director and cybersecurity expert Denis Calderone shares topics covered in the 2025 J.S. Held Global Risk Report focused on managing cyber risk in the year ahead. The global regulatory landscape is evolving rapidly in response to the increasing severity of cyber threats. Governments and regulatory bodies, including the U.S. Securities and Exchange Commission (SEC), the European Union (EU), and the U.S. Transportation Security Administration (TSA), have introduced cybersecurity mandates that require businesses to strengthen their defenses, improve incident reporting, and ensure compliance with new industry standards. The 2025 Global Risk Report by J.S. Held provides perspectives on these regulatory shifts, helping businesses navigate the complexities of cyber risk and compliance. The growing frequency and severity of cyberattacks are reshaping how businesses approach risk management. The J.S. Held 2025 Global Risk Report explores key issues facing business today, including: Business Interruption from Cyber Incidents: High-profile cases like Change Healthcare’s 2024 breach demonstrate how cyberattacks can halt operations, lead to regulatory scrutiny, and result in massive financial losses. Reputational and Legal Fallout: Cyber incidents can trigger lawsuits and damage a company’s reputation, often leading to prolonged trust recovery periods with customers and investors. Loss of Sensitive Data: Data breaches can expose critical information, including personal, financial, and proprietary data, amplifying risks of identity theft and fraud. Tightening Regulatory Landscape: New cybersecurity laws, such as the EU’s NIS2 Directive and Cyber Resilience Act, alongside the US SEC’s disclosure rules, demand stricter compliance from businesses in key sectors. Complexities in Cyber Insurance: Many companies lack clarity on whether their policies cover ransomware or meet legal and operational needs, leaving them exposed to potential financial risks. Ransomware Dilemmas and Legal Risks: Paying a ransom may violate international sanctions, creating additional legal complications for organizations already dealing with cyberattacks. Proactive Cybersecurity Enhancements: Companies implementing advanced cybersecurity measures like MFA, EDR, and immutable backup systems improve their defenses and reduce risks of disruption. AI-Powered Threat Detection: Artificial intelligence enables companies to identify fraud and cyberattacks faster by analyzing patterns and anomalies in real time, minimizing damage, and reducing costs. Increased Demand for Cyber Insurance: As companies across industries seek better coverage, insurers have opportunities to innovate new products, though exclusionary clauses are becoming more common. Business Continuity and Resilience: Organizations with strong cyber hygiene, incident response plans, and dependency mapping are better prepared for attacks and may benefit from reduced insurance premiums. Cybersecurity risk is just one of the five key areas analyzed in the J.S. Held 2025 Global Risk Report. Other topics include sustainability, supply chain, cryptocurrency and digital assets, AI and data regulations. If you have any questions or would like to further discuss the risks and opportunities outlined in the report, email GlobalRiskReport@jsheld.com. To connect with Denis Calderone simply click on his icon now. For any other media inquiries - contact : Kristi L. Stathis, J.S. Held +1 786 833 4864 Kristi.Stathis@JSHeld.com
Villanova Professor Sees Costs and Benefits in Corporate and Federal Return-to-Office Mandates
In early February, federal agencies submitted plans in accordance with an executive order to initiate an estimated 1 million government employees’ full-time return to their duty stations. The departments’ actions are among the latest in a series of RTO moves enacted since the start of 2025. Notably, they follow policy changes by corporate giants Amazon, AT&T and JPMorgan, who in January began requiring five days of in-person work for select staffers, with justifications ranging from strengthening culture to improving performance. With more employers expected to require in-office work in the coming months, some predict that 2025 could be the “year of the RTO mandate.” But, given the arguments from those pushing for these policies, it’s worth asking: Are these return-to-office requirements truly justified? Do they actually improve communication, strengthen teams and boost productivity, as supporters claim? According to Kyoung Yong Kim, PhD, whose research focuses on telework, strategic human capital management and employee-organization relationships, the answer is complicated—and highly circumstantial. Dr. Kim says that, by gathering coworkers around the proverbial water cooler, RTO policies can in some cases facilitate dialogue, promote teambuilding and foster organizational success. Yet, in other instances, work-from-home (WFH) arrangements can significantly boost employee morale, efficiency and output. “In a recent paper, my colleague Ijeoma Ugwuanyi [a professor at Hong Kong Metropolitan University] and I examined how social distancing initiatives, which reduce interactions among people, impact working relationships,” says Dr. Kim. “We found that they can actually help improve negative ones, at least in employees’ minds.” Analyzing data collected on 105 working relationships among 43 full-time personnel at a South Korean healthcare company, Dr. Kim and Dr. Ugwuanyi discovered that, when afforded extended WFH privileges, colleagues previously at odds were given the space necessary to reassess their outlooks and improve their dynamics—especially when the individuals involved were viewed as competent and warm. As a result, these repaired relationships generally empowered more effective collaboration in the long run. Additionally, employees with positive in-person relationships maintained a solid rapport even when geographically apart. “These findings are particularly relevant as corporate and government workers increasingly return to their offices,” says Dr. Kim. “Managers need to remember that, according to the research, employees are willing to reset negative relationships they had previously. That said, returning to the office also offers a chance to strengthen relationships and make them more positive, which is crucial since team dynamics are a key determinant of team performance.” Per Dr. Kim, in order to best position themselves for success on the RTO front, organizations need to take a measured, sympathetic approach in facilitating their in-office policies, with an eye toward mitigating negativity. They need to remain cognizant of the logistical and interpersonal challenges that could emerge in the wake of a return, address their employees’ concerns in an attentive manner and foster a “supportive climate characterized by supportive behaviors.” It’s a situation that Dr. Kim says bears parallels—perhaps somewhat counterintuitively—to the mass shift to telework that occurred during the COVID-19 pandemic. As he found in his research on that phenomenon, employees responded best to changes in their working arrangements when organizational leaders and managers took the time to explain and actively discuss the reasoning behind them, especially in mission-driven terms. “Essentially, an important implication of the findings is that, to sustain employees’ positive attitudes and behaviors, it is crucial to frame these moves in a way that highlights how working in the office benefits both employees and the organization,” says Dr. Kim. In turn, RTO-focused organizations should recognize that their words and messages have a very real impact, particularly when scrutinized by workers who may not be happy about resuming their morning commutes. “Amazon, for instance, appears to be taking a thoughtful approach by emphasizing the value of collaboration with colleagues and the enrichment of organizational culture,” says Dr. Kim. “One potential drawback, however, lies in their message about the consequences of non-compliance, specifically that failure to adhere to the in-office policy could jeopardize employees’ chances of promotion. “A more positive framing, emphasizing how such policies support professional growth as well as employees’ well-being, could enhance favorable perceptions and work behaviors.” In the event organizations remain attuned to such situations—taking their employees’ perspectives into account, actively communicating their intentions and presenting clear value propositions—Dr. Kim thinks a year of the RTO mandate could potentially be a less daunting prospect. And maybe, with time, the transition back from Zoom to the boardroom could be a beneficial one.
3D-printed lung model helps researchers study aerosol deposition in the lungs
Treating respiratory diseases is challenging. Inhalable medicines depend on delivering particles to the right lung areas, which is complicated by factors like the drug, delivery method and patient variability, or even exposure to smoke or asbestos particles. University of Delaware researchers have developed an adaptable 3D lung model to address this issue by replicating realistic breathing maneuvers and offering personalized evaluation of aerosol therapeutics. “If it's something environmental and toxic that we're worried about, knowing how far and how deep in the lung it goes is important,” said Catherine Fromen, University of Delaware Centennial Associate Professor for Excellence in Research and Education in the Department of Chemical and Biomolecular Engineering. “If it's designing a better pharmaceutical drug for asthma or a respiratory disease, knowing exactly where the inhaled aerosol lands and how deep the medicine can penetrate will predict how well that works.”that can replicate realistic breathing maneuvers and offer personalized evaluation of aerosol therapeutics under various breathing conditions. Fromen and two UD alumni have submitted a patent application on the 3D lung model invention through UD’s Office of Economic Innovation and Partnerships (OEIP), the unit responsible for managing intellectual property at UD. In a paper published in the journal Device, Fromen and her team demonstrate how their new 3D lung model can advance understanding of how inhalable medications behave in the upper airways and deeper areas of the lung. This can provide a broader picture on how to predict the effectiveness of inhalable medications in models and computer simulations for different people or age groups. The researchers detail in the paper how they built the 3D structure and what they’ve learned so far. Valuable research tool The purpose of the lung is gas exchange. In practice, the lung is often approximated as the size of a tennis court that is exchanging oxygen and carbon dioxide with the bloodstream in our bodies. This is a huge surface area, and that function is critical — if your lungs go down, you're in trouble. Fromen described this branching lung architecture like a tree that starts with a trunk and branches out into smaller and smaller limbs, ranging in size from a few centimeters in the trachea to about 100 microns (roughly the combined width of two hairs on your head) in the lung’s farthest regions. These branches create a complex network that filters aerosols as they travel through the lung. Just as tree branches end in leaves, the lung’s branches culminate in delicate, leaf-like structures called alveoli, where gases are exchanged. “Those alveoli in the deeper airways make the surface area that provides this necessary gas exchange, so you don't want environmental things getting in there where they can damage these sensitive, finer structures,” said Fromen, who has a joint appointment in biomedical engineering. Mimicking the complex structure and function of the lung in a lab setting is inherently challenging. The UD-developed 3D lung model is unique in several ways. First, the model breathes in the same cyclic motion as an actual lung. That’s key, Fromen said. The model also contains lattice structures to represent the entire volume and surface area of a lung. These lattices, made possible through 3D printing, are a critical innovation, enabling precise design to mimic the lung's filtering processes without needing to recreate its full biological complexity. “There's nothing currently out there that has both of these features,” she explained. “This means that we can look at the entire dosage of an inhaled medicine. We can look at exposure over time, and we can capture what happens when you inhale the medication and where the medicine deposits, as well as what gets exhaled as you breathe.” The testing process Testing how far an aerosol or environmental particle travels inside the 3D lung model is a multi-step process. The exposure of the model to the aerosol only takes about five minutes, but the analysis is time-consuming. The researchers add fluorescent molecules to the solution being tested to track where the particles deposit inside the model’s 150 different parts. “We wash each part and rinse away everything that deposits. The fluorescence is just a molecule in the solution. When it deposits, we know the concentration of that, so, when we rinse it out, we can measure how much fluorescence was recovered,” Fromen said. This data allows them to create a heat map of where the aerosols deposit throughout the lung model’s airways, which then can be validated against benchmarked clinical data for where such aerosols would be expected to go in a human under similar conditions. The team’s current model matches a healthy person under sitting/breathing conditions for a single aerosol size, but Fromen’s team is working to ensure the model is versatile across a much broader range of conditions. “An asthma attack, exercise, cystic fibrosis, chronic obstructive pulmonary disorder (COPD) — all those things are going to really affect where aerosols deposit. We want to make sure our model can capture those differences,” Fromen said. The ability to examine disease features like airway narrowing or mucus buildup could lead to more personalized care, such as tailored medication doses or redesigned inhalers. Currently, inhaled medicines follow a one-size-fits-all approach, but the UD-developed model offers a tool to address these issues and understand why many inhaled medicines fail clinical trials.
Slow traffic, fast food: The effects of highway congestion on fast-food consumption
Sitting in your car at 5:15 p.m. on a Tuesday, vehicles line the highway as far as the eye can see. The GPS estimates you still have 30 minutes left in traffic, and a vision of your empty fridge passes through your mind as your stomach grumbles. You are faced with a decision: stop at the grocery store to buy ingredients to make dinner or follow one of the many fast-food beacons illuminated beyond the exit sign. According to new research from Panka Bencsik, Assistant Professor of Medicine, Health, and Society, Vanderbilt University, on days when highways are more congested, particularly during weekday afternoon rush hour, people are more likely to choose the fast-food option. Bencsik worked in collaboration with researchers at the University of Pittsburgh and the University of Illinois Urbana-Champaign to analyze the causal effect of time lost on food choice in Los Angeles County. The team analyzed smartphone GPS data from 2017 to 2019 to track foot traffic to restaurants and grocery stores during periods of heavy traffic congestion. “These results are concerning from a public health standpoint,” Bencsik said. “Fast food tends to be higher in fat, sodium, and energy density, and lower in whole grains, fruits, vegetables, and nutrients than food consumed at home. The time commuters spend in congested traffic has substantial implications for eating habits and potentially caloric intake.” Prior research estimates that people consume about 134 more calories per meal when they eat elsewhere versus eating at home. Bencsik said looking at that combined with the results of this study, which also suggests a decrease in visiting supermarkets, likely leads to unhealthier eating habits as a result of traffic congestion. Bencsik said the results of the study also do not suggest that people are swapping their planned “take out day” for the day with more traffic, but they are instead choosing to visit fast-food restaurants more in total. “Increased consumption of fast food due to traffic congestion during peak travel times potentially plays a role in the rise in obesity, heart failure, and diabetes among Americans, given that fast food is typically less healthy than other options,” Bencsik said. “Our results suggest that policies aimed at reducing time spent commuting by car could help battle unhealthy eating habits. For example, improving infrastructure to mitigate traffic congestion, or expanding and speeding up public transport, could reduce fast-food dependency. Increasing work-from-home opportunities and reducing the number of days workers go into work could also have a meaningful impact.” The full paper, "Slow traffic, fast food: The effects of time lost on food store choice," is published in the Journal of Urban Economics.
J.S. Held Experts Examine Crypto’s Pitfalls and Potential
The global cryptocurrency market has surged to a staggering USD 3.4 trillion. However, alongside this rapid expansion, significant challenges and risks continue to emerge. The J.S. Held 2025 Global Risk Report examines the evolving landscape of crypto and digital assets, highlighting both the potential and the pitfalls of this dynamic sector. The explosion of cryptocurrency adoption across industries—from gaming to decentralized finance (DeFi)—has led to increased regulatory scrutiny and security concerns. With the expected growth in the number of users to exceed 107.3 million in the market by 2025, every sector is looking at what crypto and this blockchain technology can do to transform their business. Even the gaming industry has entered the crypto space with bridging services offering “Play-to-Earn” (P2E) games. While anonymity remains a key feature in both the risk and success of cryptocurrency, the concept of “Know Your Customer” on centralized platforms is still required but continues to evolve because not all anonymity is evil. Despite regulatory, environmental, geopolitical, and other business risks, the J.S. Held 2025 Global Risk Report reveals how the crypto industry continues to evolve, offering new opportunities for businesses and investors around: Enhanced Transparency & Security Regulatory Clarity Education & Compliance Digital Identity Solutions “With regulatory frameworks tightening globally—from the European Union’s Markets in Crypto-Assets (MiCA) law to China’s outright ban—the future of crypto remains at a critical inflection point,” observes J.P. Brennan, Global Head of Fintech, Payments, Crypto Compliance and Investigations at J.S. Held. “As the industry matures, the balance between risk mitigation and innovation will shape the next phase of digital asset adoption,” J.P. Brennan adds. J.P. Brennan examines the crypto risks and opportunities outlined in the 2025 J.S. Held Global Risk Report in this video: Cryptocurrency and digital asset risk is just one of the five key areas analyzed in the J.S. Held 2025 Global Risk Report. Other topics include sustainability, supply chain, Artificial Intelligence (AI) and data regulations, and managing cyber risk. If you have any questions or would like to further discuss the risks and opportunities outlined in the report, please email GlobalRiskReport@jsheld.com. To connect with J.P. Brennan, simply click on his icon now. For any other media inquiries - contact : Kristi L. Stathis, J.S. Held +1 786 833 4864 Kristi.Stathis@JSHeld.com
