Experts Matter. Find Yours.
Connect for media, speaking, professional opportunities & more.
Is the U.S. banking system on the edge of collapse? Our #expert can explain
The recent bailout of First Foundation Inc, parent of First Foundation Bank, by a group of investors has reignited concerns about the stability of the U.S. banking system, specifically banks exposed to debt in the commercial real estate market teetering on the verge of collapse. First Foundation Bank reported more than $6 billion in commercial real estate mortgages on its financial statements for the first quarter of the year, equal to almost six times its equity capital and almost half of its $13.6 billion in total assets. Bank regulators consider any exposure greater than three times equity to be excessive. An analysis by Rebel Cole, Ph.D., Lynn Eminent Scholar Chaired Professor of Finance in the College of Business at Florida Atlantic University, previously found that the First Foundation Bank was fourth highest among the largest banks in the nation in terms of its exposure to commercial real estate debt. It’s likely that other banks are also at similar risk: among banks with more than $10 billion in total assets, there are 67 that exceed this 300% concentration ratio, Cole’s analysis showed. Among the approximately 4,600 banks of any size, Cole reports that 1,871 have total CRE exposures greater than 300%, 1,112 have exposures greater than 400%, 551 have exposures greater than 500%, and 243 have exposures greater than 600%. Cole is available for expert commentary on the stability of the U.S. banking system, other banks at risk due to their CRE exposure, and investor confidence.
Cosmetic or Drug? The FDA's Classification of Sunscreen Limits Which Products Hit US Shelves
As stifling rays of sunshine beat down across the United States, it’s the time of year citizens flock to the store to load up on sun protection. It’s also the time of year consumers and media raise the annual question of why Europe is able to market sunscreen that contains more potentially effective ingredients, but the U.S. isn’t. The answer is not related to sunscreen or its ingredients, but rather how the country’s regulatory body – The Food and Drug Administration (FDA) – legally operates. “In order for the FDA to legally regulate products, those products are given classifying labels,” said Ana Santos Rutschman, a professor of law at Villanova University who studies health law. “A toothbrush, for instance, is labeled a medical device. That’s because it has to fit in one of the sources of authority of the FDA and the FDA, per the law, regulates drugs or medical devices.” Here is where it gets tricky. The FDA does not have to approve cosmetics, aside from certain color additives, before those products go to market. In the European Union’s European Medicines Agency (EMA), sunscreen is labeled as a cosmetic. Many other countries also classify it as such. In the U.S., however, sunscreen is labeled a drug because it has a therapeutic effect, and thus falls under the authority of the FDA. To make the classification system even more convoluted, some items are labeled as both a cosmetic and drug by the FDA. Shampoo, for instance, is inherently cosmetic. “But if it’s anti-dandruff shampoo, then it’s also a pharmaceutical,” said Santos Rutschman. “It’s super common for this to happen with a lot of products that you and I would not think are classified as drugs. It’s very natural under the regulatory regime that we have, but then it is very hard to bring anything to market – harder than other countries.” Case in point, sunscreen used in the EU that contains ingredients which may be more effective against certain types of ultraviolet rays cannot simply just come to market in the U.S. “If sunscreen fits the definition of a drug, then it must meet drug requirements,” said Santos Rutschman. “If you want a new drug to enter the U.S., you have to show efficacy and safety. But in order to do that, there must be clinical trials, and if those trials happened elsewhere, they would not conform to our domestic protocols. “Even if another country performed their own clinical trials, the odds the FDA would utilize the data are not incredibly high. If you think another country recognizes something we should, based on their data, then immediately this is going to raise questions of why we are deferring to a foreign regulator.” The FDA could go through the process of approving ingredients in question – and has indicated it will do so – but it’s a complicated process, and there is “also a matter of risk,” according to Santos Rutschman. “The FDA has always been less risk averse than its counterparts in Europe. I understand the market concerns, but this seems about right from a regulatory perspective… We aren’t talking about a specific drug that people need and cannot access. Sunscreen is available for the average American to purchase.” Barring an overhaul to the regulatory system in the U.S. to include an agency for cosmetics – an idea some argue has merit, but Santos Rutschman described as “not feasible” with the available funding – the only way Europe’s sunscreen would be available for Americans to purchase is if the FDA moved forward in regulating the ingredients. And that will continue to take time. “The FDA has never moved quickly on anything,” said Santos Rutschman. “It just can't.”
It's National Play Outside Day tomorrow - How Important is this for kids? Our experts can help
In an era where technology and screen time increasingly dominate children's daily lives, the importance of physical activity for kids stands out as a critical issue. Physical activity is not only vital for the overall health and well-being of children, but it also plays a significant role in their physical, emotional, and social development. This topic is newsworthy due to rising concerns about childhood obesity, mental health issues, and the long-term health impacts of sedentary lifestyles. Moreover, promoting physical activity in children addresses broader societal issues such as healthcare costs, educational outcomes, and community well-being. Key story angles for journalists could include: Health Benefits: Exploring how regular physical activity helps prevent childhood obesity, strengthens the immune system, and reduces the risk of chronic diseases such as diabetes and heart conditions. Mental Health and Well-being: Highlighting the positive effects of exercise on children's mental health, including reducing anxiety and depression, improving mood, and enhancing cognitive function. Educational Impact: Investigating the correlation between physical activity and academic performance, including improved concentration, better behavior in school, and enhanced learning outcomes. Community Programs: Covering local and national initiatives aimed at increasing physical activity among children, such as after-school sports programs, community fitness events, and partnerships with schools. Parental and Educator Roles: Discussing the importance of parents and educators in encouraging and facilitating physical activity, including tips for integrating exercise into daily routines and creating supportive environments. Overcoming Barriers: Addressing challenges that prevent children from being active, such as lack of safe play spaces, financial constraints, and limited access to recreational facilities, and highlighting solutions and success stories. By focusing on the importance of physical activity for kids, journalists can shed light on an issue that affects the future health and happiness of the next generation, while providing valuable information and inspiration to parents, educators, and policymakers. Connect with an expert about the Importance Physical Activity : To search our full list of experts visit www.expertfile.com Photo credit: Annie Spratt
AI Art: What Should Fair Compensation Look Like?
New research from Goizueta’s David Schweidel looks at questions of compensation to human artists when images based on their work are generated via artificial intelligence. Artificial intelligence is making art. That is to say, compelling artistic creations based on thousands of years of art production may now be just a few text prompts away. And it’s all thanks to generative AI trained on internet images. You don’t need Picasso’s skillset to create something in his style. You just need an AI-powered image generator like DALL-E 3 (created by OpenAI), Midjourney, or Stable Diffusion. If you haven’t tried one of these programs yet, you really should (free or beta versions make this a low-risk proposal). For example, you might use your phone to snap a photo of your child’s latest masterpiece from school. Then, you might ask DALL-E to render it in the swirling style of Vincent Van Gogh. A color printout of that might jazz up your refrigerator door for the better. Intellectual Property in the Age of AI Now, what if you wanted to sell your AI-generated art on a t-shirt or poster? Or what if you wanted to create a surefire logo for your business? What are the intellectual property (IP) implications at work? Take the case of a 35-year-old Polish artist named Greg Rutkowski. Rutkowski has reportedly been included in more AI-image prompts than Pablo Picasso, Leonardo da Vinci, or Van Gogh. As a professional digital artist, Rutkowski makes his living creating striking images of dragons and battles in his signature fantasy style. That is, unless they are generated by AI, in which case he doesn’t. “They say imitation is the sincerest form of flattery. But what about the case of a working artist? What if someone is potentially not receiving payment because people can easily copy his style with generative AI?” That’s the question David Schweidel, Rebecca Cheney McGreevy Endowed Chair and professor of marketing at Goizueta Business School is asking. Flattery won’t pay the bills. “We realized early on that IP is a huge issue when it comes to all forms of generative AI,” Schweidel says. “We have to resolve such issues to unlock AI’s potential.” Schweidel’s latest working paper is titled “Generative AI and Artists: Consumer Preferences for Style and Fair Compensation.” It is coauthored with professors Jason Bell, Jeff Dotson, and Wen Wang (of University of Oxford, Brigham Young University, and University of Maryland, respectively). In this paper, the four researchers analyze a series of experiments with consumers’ prompts and preferences using Midjourney and Stable Diffusion. The results lead to some practical advice and insights that could benefit artists and AI’s business users alike. Real Compensation for AI Work? In their research, to see if compensating artists for AI creations was a viable option, the coauthors wanted to see if three basic conditions were met: – Are artists’ names frequently used in generative AI prompts? – Do consumers prefer the results of prompts that cite artists’ names? – Are consumers willing to pay more for an AI-generated product that was created citing some artists’ names? Crunching the data, they found the same answer to all three questions: yes. More specifically, the coauthors turned to a dataset that contains millions of “text-to-image” prompts from Stable Diffusion. In this large dataset, the researchers found that living and deceased artists were frequently mentioned by name. (For the curious, the top three mentioned in this database were: Rutkowski, artgerm [another contemporary artist, born in Hong Kong, residing in Singapore] and Alphonse Mucha [a popular Czech Art Nouveau artist who died in 1939].) Given that AI users are likely to use artists’ names in their text prompts, the team also conducted experiments to gauge how the results were perceived. Using deep learning models, they found that including an artist’s name in a prompt systematically improves the output’s aesthetic quality and likeability. The Impact of Artist Compensation on Perceived Worth Next, the researchers studied consumers’ willingness to pay in various circumstances. The researchers used Midjourney with the following dynamic prompt: “Create a picture of ⟨subject⟩ in the style of ⟨artist⟩”. The subjects chosen were the advertising creation known as the Most Interesting Man in the World, the fictional candy tycoon Willy Wonka, and the deceased TV painting instructor Bob Ross (Why not?). The artists cited were Ansel Adams, Frida Kahlo, Alphonse Mucha and Sinichiro Wantabe. The team repeated the experiment with and without artists in various configurations of subjects and styles to find statistically significant patterns. In some, consumers were asked to consider buying t-shirts or wall art. In short, the series of experiments revealed that consumers saw more value in an image when they understood that the artist associated with it would be compensated. Here’s a sample of imagery AI generated using three subjects names “in the style of Alphonse Mucha.” Source: Midjourney cited in http://dx.doi.org/10.2139/ssrn.4428509 “I was honestly a bit surprised that people were willing to pay more for a product if they knew the artist would get compensated,” Schweidel explains. “In short, the pay-per-use model really resonates with consumers.” In fact, consumers preferred pay-per-use over a model in which artists received a flat fee in return for being included in AI training data. That is to say, royalties seem like a fairer way to reward the most popular artists in AI. Of course, there’s still much more work to be done to figure out the right amount to pay in each possible case. What Can We Draw From This? We’re still in the early days of generative AI, and IP issues abound. Notably, the New York Times announced in December that it is suing OpenAI (the creator of ChatGPT) and Microsoft for copyright infringement. Millions of New York Times articles have been used to train generative AI to inform and improve it. “The lawsuit by the New York Times could feasibly result in a ruling that these models were built on tainted data. Where would that leave us?” asks Schweidel. "One thing is clear: we must work to resolve compensation and IP issues. Our research shows that consumers respond positively to fair compensation models. That’s a path for companies to legally leverage these technologies while benefiting creators." David Schweidel To adopt generative AI responsibly in the future, businesses should consider three things. First, they should communicate to consumers when artists’ styles are used. Second, they should compensate contributing artists. And third, they should convey these practices to consumers. “And our research indicates that consumers will feel better about that: it’s ethical.” AI is quickly becoming a topic of regulators, lawmakers and journalists and if you're looking to know more - let us help. David A. Schweidel, Professor of Marketing, Goizueta Business School at Emory University To connect with David to arrange an interview - simply click his icon now.
A new study conducted by CAA Manitoba (CAA MB) shows that 59 per cent of Manitoba drivers have witnessed a close-call collision or distracted driving traffic violation. For many Manitobans, these close calls are fueling safety concerns, as 89 per cent of drivers in the province feel somewhat or very concerned about distracted driving. “Distracted driving is the leading contributing factor in fatal motor vehicle collisions in Manitoba,” says Ewald Friesen, manager of government and community relations at CAA Manitoba. “By raising awareness of the risks of distracted driving, we hope to do our part to save lives and increase safety." Distracted driving has a direct impact on road safety Manitoba’s ban on using hand-held devices while driving has been in effect since July 2010. However, distracted driving caused by technology continues to be a concern across the province. The survey found that 60 per cent of Manitoba drivers have been behind a driver in another vehicle who missed a traffic light change because that driver was distracted. “Safe driving requires focus and concentration. It is always best to set up your navigation system and send your text messages before driving,” says Friesen, “Using this technology while driving is simply not worth the risk of potential charges and the danger it poses to both the driver and others on the road.” The survey also found that 51 per cent of Manitoba drivers stated that they had met the criteria for being distracted drivers in the past, with three per cent admitting to having been charged. While there can be many distractions on the road, the top five most concerning distractions for those surveyed are: 1. Holding a mobile device 2. Watching TV 3. Making a video call 4. Grooming 5. Wearing headphones or earbuds “It is always best to send your text messages and make your video calls before driving,” says Friesen, “Engaging in these behaviours is not only illegal, but they put the life of the driver and those around them at risk.” Manitobans believe fines, penalties and public education remain the most effective methods to combat distracted driving According to Manitoba Public Insurance (MPI), using a mobile device while driving is illegal. If ignored, this can result in a $672 fine and possible license suspension. The survey also found that 57 per cent of Manitoba drivers support increasing fines and penalties for distracted driving convictions. For more information, please visit https://www.caamanitoba.com/distracted The online survey was conducted by DIG Insights from January 22 to February 5, 2024, with 506 Manitoba drivers aged 18 and older. Based on the sample size of n=506 and with a confidence level of 95 per cent, the margin of error for this research is +/- 3%.)
A new study conducted by CAA South Central Ontario (CAA SCO) shows that over half of Ontario drivers (66 per cent) have witnessed a close-call collision or traffic violation caused by distracted driving. For many Ontarians, those close calls are fueling safety concerns. Ninety-one per cent of drivers in the province feel somewhat or very concerned about distracted driving, a number that remains unchanged from 2023. “Distracted driving continues to be a leading factor in collisions on highways and city roads,” says Michael Stewart, community relations consultant for CAA SCO. “We continue to raise awareness of the risks associated with using your mobile device or in-vehicle technology while driving.” Distracted driving has a direct impact on road safety Ontario’s ban on using hand-held devices while driving has been in effect since October 2009. Despite this ban, distracted driving is still a common sight on our roads. The survey found that 63 per cent of Ontario Drivers have been behind a driver in another vehicle who missed a traffic light change because that driver was distracted. "It takes only a split second of inattention to cause a close call or even a tragic collision. Staying focused behind the wheel is not just a personal responsibility but a crucial act of safety for everyone on the road,” adds Stewart. The survey also found that 42 per cent of Ontario drivers stated that they had met the criteria for being distracted drivers in the past, with two per cent admitting to having been charged. While there can be many distractions on the road, the top five most concerning distractions for those surveyed are: 1. Holding a mobile device 2. Watching TV 3. Making a video call 4. Grooming 5. Typing a destination into a GPS or navigation app “Safe driving requires focus and concentration. It is always best to set up your navigation system and send your text messages before driving,” says Stewart, “Using this technology while driving is simply not worth the risk of potential charges and the danger it poses to both the driver and others on the road.” Ontarians believe fines and penalties remain the most effective methods to combat distracted driving Ontario drivers can face a minimum fine of $615 up to $1,000, three demerit points and a three-day licence suspension for their first conviction of distracted driving. According to survey data, 60 per cent of drivers support increasing fines and penalties for distracted driving convictions – however, only 32 per cent were aware of all the penalties that come with your first conviction. “As we continue to see a trend in these behaviours behind the wheel, we understand the public’s concern and desire for stronger repercussions,” says Stewart. “CAA SCO will continue to advocate for road safety through education and community member insights to help us create safer roads for all.” For more information, please visit www.caasco.com/distracted DIG Insights conducted the survey from January 22 to February 5, 2024, as a follow-up to research to previous CAA reports. The online survey was conducted with 1,513 Ontario drivers aged 18 and older. Based on the sample size of n=1,513 and with a confidence level of 95%, the margin of error for this research is +/- 2%.)
First in Delaware to Offer MR-Guided Ultrasound for Treatment of Essential and Parkinson’s Tremor
Revolutionary technology gives patients immediate relief from debilitating tremors without the need for invasive surgery. ChristianaCare is the first health care provider in Delaware to offer FDA-approved focused ultrasound treatment for people suffering from essential tremor and Parkinson’s disease. The new option – called MR-guided focused ultrasound – uses sound wave energy to destroy precise areas of brain tissue that is the source of the tremor. No surgical incision or anesthesia is necessary, and many patients experience immediate and significant reduction in tremors, which can make daily activities challenging. Dr. Martello explains that the procedure involves the use of high-frequency sound waves directed with pinpoint precision by magnetic resonance imaging to ablate, or burn, the focal point deep within the brain that is causing tremors. “This minimally invasive technology dramatically improves the lives of patients with essential tremor and tremor-dominant Parkinson’s who haven’t fully responded to traditional treatments,’’ said Justin Martello, M.D., director of the Parkinson’s and Movement Disorders Programs, and Focused Ultrasound Program at ChristianaCare. What is tremor? Tremor is a neurological condition that includes involuntary shaking or trembling movements in one or more parts of the body. It most commonly affects the hands and can make daily tasks such as writing, eating and using a computer or phone extremely difficult. Tremor affects approximately 1% of the population overall and 5% of adults age 60+. It is expected to increasingly impact Delawareans as the state’s population ages. Essential tremor is the most common type of tremor. It can occur at any age but is most common in older adults. Tremor is also the most well-known symptom of Parkinson’s disease. An estimated 1.5 million Americans suffer from Parkinson’s disease, a progressive neurodegenerative disease that affects movement and can also affect speech, balance and cognitive function. A newer, better option for patients who don’t respond to medications The procedure of MR-guided focused ultrasound involves the use of high-frequency sound waves directed with pinpoint precision by magnetic resonance imaging to ablate, or burn, the focal point deep within the brain that is causing tremors. Patients are fitted with a frame affixed to a specialized helmet that combines the focused energy of more than 1,000 high-frequency sonic beams directed through the skull. The treatment does not require cutting through the skull, or radiation, as in gamma knife technology. “Today, there are basically three options for managing tremor,” said Pulak Ray, M.D., of Delaware Neurosurgical Group and associate director of the Focused Ultrasound program. “The first is medication, which is effective and affordable for many patients, but its effectiveness tends to diminish over time. The second is deep-brain stimulation, which is the most invasive and costly treatment option. The newest is MR-guided ultrasound, which tends to be the preferable option for most patients who do not respond well to medication, because it is a simple, non-invasive outpatient procedure that is highly effective, safe and produces instant results.” Benefits of MR-guided Focused Ultrasound MR-guided focused ultrasound reduces tremor immediately, with shorter recovery time, lower risk of side effects and lower associated health care expenses compared to surgical alternatives. This treatment dramatically improves patient experience and quality of life for people with Parkinson’s disease or essential tremor. For many patients, MR-guided ultrasound reduces their dependence on caregivers to assist with activities of daily living. Candidates must first undergo a CT scan to ensure a skull density sufficiently thick to accommodate the procedure. The patient is awake during the procedure and situated within an MRI machine for real-time imaging of the brain. The physician tests the precise location by heating the area, then ensuring the patient is able to control tremors by tracing lines on a spirograph. At that point, the physician then permanently ablates the focal point, usually a sphere a few millimeters in length. “Our team is very excited to bring this technology to Delaware and to open up access to potentially life-changing treatment that until now has required long wait times and significant travel for patients,” said Kim Gannon, M.D., Ph.D., medical director of the comprehensive stroke program and physician executive of Neuroscience Service Line at ChristianaCare. “Many tremor patients have suffered for years or even decades with this debilitating and progressive condition and helping them live a more active and independent lifestyle is extremely rewarding.” MR-guided focused ultrasound is covered by Medicare and most insurance plans.
The EPA Cracks Down on "Forever Chemicals" in Drinking Water
For many years, toxic per- and polyfluoroalkyl substances (PFAS) have contaminated drinking water supplies across the United States. But in April, the Environmental Protection Agency (EPA) announced major steps to rein in these stubborn "forever chemicals." In a groundbreaking move, the EPA set strict new limits on six types of PFAS that are currently present in drinking water. Permitted levels of these chemicals are now close to zero, as water suppliers will be required to reduce them to the lowest level that can possibly be measured. These are the first-ever nationwide drinking water regulations for PFAS issued by the federal government. "The EPA is asking water companies to try to get PFAS levels to zero because there's no safe level. It's very difficult to test below four parts per trillion with the equipment and the testing mechanisms we have right now, so the levels will be reduced as much as they possibly can," said Laura Anderko, PhD, co-director of the Mid-Atlantic Center for Children's Health and the Environment at Villanova University's M. Louise Fitzpatrick College of Nursing. So, what's driving this urgency to minimize exposure to PFAS? Our children's health is one big reason. As Dr. Anderko explains, "Children are more susceptible and vulnerable to the health impacts of PFAS because their bodies are still growing. Some of the health issues resulting from PFAS exposure are high cholesterol and a decrease in infant growth and fetal growth—so much so that there's a tendency towards low birth weight." Adults aren't spared either. PFAS has been linked to health issues including kidney cancer, liver problems and reduced antibody response from vaccines. For pregnant women, PFAS can increase the risk of high blood pressure. "These chemicals do impact pretty much every organ system of the body," Dr. Anderko said. With many different PFAS compounds used in products from fast food packaging to Band-Aids to carpeting, avoiding exposure to them can be difficult. Dr. Anderko's advice to reduce exposure is to educate yourself on what products contain PFAS and purchase alternative options when possible. She also cautions against relying solely on bottled water, which isn't necessarily safer than tap water. "We have this idea that bottled water is safe because it's packaged, but a lot of times that water is not tested, and we know for a fact that bottled water is filled with microplastics," she said. "You're better off not relying on bottled water unless you absolutely have to." Per Dr. Anderko, in the United States, chemicals can be inserted into some products without stringent testing for human health effects beforehand, so the EPA's new PFAS limits represent a major step toward putting human health first. While there is still a long road ahead to completely eliminate PFAS from our daily lives, these new regulations signal a welcome shift toward protecting public health in our country.
Recent Expert Placement: GOP-Led LI Towns Challenge Moving Elections to Even-Numbered Years
Lawrence Levy, associate vice president and executive dean of the National Center for Suburban Studies, spoke to Newsday about five GOP-led towns in Nassau and Suffolk that are challenging a new state law to move most local elections to even-numbered years. Levy called the law “a mixed bag” for political parties and candidates. He said the candidate at the top of the ticket could impact many of the results. “There is the risk that local issues will be drowned out … but it’s also an opportunity for a lot of people, who never bothered to pay attention to local races, to maybe do so if they don’t want to click a lever for just any old person without knowing something,” he said. Lawrence Levy is the Executive Dean of the National Center for Suburban Studies at Hofstra University. He's available to speak with media - simply click on his icon now to arrange an interview today.
Those flying spiders are harmless; don't tell that to arachnophobes
A breed of flying arachnids known as Joro spiders are headed to the northeast this summer, specifically Pennsylvania, New Jersey and Delaware. Experts say there's nothing to fear, but that doesn't make them any less scary to those who have an issue with the eight-legged bug eaters. Two University of Delaware experts can provide insight and (some) comfort regarding any potential risk to humans. Brian Kunkel, an expert in landscape and household insects and entomology for ornamentals with UD's Cooperative Extension, confirmed the yellow and black spider will be making its arrival in the Tri-State area but said it isn't likely to be noticed until the fall, when it grows to visible size. Regardless, there is no need to be concerned. In the unlikely event that it bites, you would feel something akin to a bee sting, Kunkel said. Doug Tallamy, professor of entomology and wildlife ecology, confirmed the spiders are on the way but echoed Kunkel's assessment that there is nothing to be worried about. To set up an interview with Kunkel, send an email to mediarelations@udel.edu. If interested in an interview with Tallamy, visit his profile and click on the contact button.
