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Experts in the media - Will Facebook, Google take over blockchain?
Banking and big tech are going ‘all-in’ on blockchain initiatives – and it is getting a lot of attention from investors, regulators and the industry. In an announcement this week, Facebook stated it was moving full speed ahead with its cryptocurrency ‘Libra”. With this announcement, Facebook isn’t just moving into the cryptocurrency space—it’s also setting itself up as a financial services company. Unlike many other cryptocurrencies, Libra will be specifically designed for use as a payment medium, rather than a speculative asset. Bitcoin, Ethereum, and other digital currencies are generally difficult to transfer back and forth for everyday payments, partly because the price of the tokens is based primarily on market demand. The value thus fluctuates dramatically. If it works, Libra should be much less volatile since it will be pegged to traditional financial assets, including a raft of government-issued currencies. Slate, June 18, 2019 Recently, Dr. Eric Overby, associate professor of information technology at Georgia Tech's Scheller College of Business was interviewed by Blockchain Tech News to get his perspective on what to expect now that Google and Facebook are adopting blockchain as part of their platforms. The interview is attached below. Eric Overby's research focuses on the transition from physical to electronic modes of interaction and its effect on market efficiency. Eric is available to speak to media regarding blockchain or any other technology related topics – simply click on his icon to arrange an interview.
What will a ban on single-use plastic mean for small businesses in Canada?
Being environmentally friendly has become a popular trend. Climate change is occurring, and news stories of wasteful plastics clogging our waterways are becoming more frequent, making the battle against plastic waste an election issue. Earlier this month, Prime Minister Trudeau announced a ban on single-use plastics by 2021 that will likely include straws, plastic cups, food wrapping and grocery bags. It's evident, being environmentally friendly is in everyone's best interest, but business owners are concerned about what costs will arise as a result. Companies use plastics cups, lids and straws for take-out, plastic wrap as a significant part in food safety and freshness, and plastic bags for clients to transport purchases home. Even though these plastics are environmentally harming, some still see them as essential. There are more than 1.1 million small businesses in Canada, and most of them will have to adapt or adjust to: How will this impact their bottom-line? How slim are the margins already for most small retailers? Are incentives for businesses required before implementing this new policy? These are some of the critical questions to ask. If your small business will be affected, contact one of our experts to help. James Brutto, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of accounting, auditing, finance and entrepreneurship. Contact James to arrange an appointment regarding this topic by clicking the contact button below. Sources:
Up, Down or Steady – What do Interest Rates Really Mean for Our Economy?
The heat was on Federal Reserve Chairman Jerome Powell this week to lower interest rates coming out of the June meetings of the Fed. He was under scrutiny from President Trump and others who share a growing worry that America’s economy could be slowing down and potentially turning toward recession. An option that is neither appetizing for investors, the business community or politicians looking for positive messaging as an election looms in 2020. Powell held the rates steady but there is massive speculation this will be for the last time and that rates will begin to be cut as of the next meeting of the Federal Reserve. There are a lot of questions about interest rates and the economy: How do rates encourage or dissuade investment and business? How much of a rate cut will it take to impact the economy? Do interest rates and the dollar go up and down in tandem? And how independent is the Fed and who influences these decisions? If you are covering, we can help. Jeff Haymond, Ph.D. is Dean, School of Business Administration at Cedarville and is an expert in finance and trade. Bert Wheeler, Ph.D. specializes in macroeconomics, international trade, economic development, and econometrics. Jeff and Bert are both available to speak to media regarding the current trade war with China – simply click on either expert’s icon to arrange an interview.
Why it just makes ‘cents’ to know your financial ABCs early in life – let our expert explain.
Managing money, understanding interest and how to avoid debt – all these elements make up some of the very basics of financial literacy. However, despite a humming economy and record low unemployment, more and more Americans are falling deeper into debt. Just recently, CBS News reported that roughly 4 in 10 Americans can’t cover an unexpected bill of 400 dollars. Something desperately needs to be done about not just how we are handling our money – but when we are taught the how banking, money and personal finances work. It’s a topic of concern and one that is gaining traction. Showbiz moguls Will Smith and Nas invested in a financial literacy app for teens (see attached article). The issue is finally on the radar of leaders in Washington and throughout the country as well, with 19 states now requiring financial education to graduate, according to the Council for Economic Education, up from 13 in 2011. Can these efforts make a real impact and reverse the tide of financial illiteracy? How did America get to this point? Is this about our spending habits and access to credit or a lack of education? And if we don’t correct the curse – what could it mean for our economy? There are a lot of questions and that’s where our experts can help! Professor Jonathan Clarke is an award-winning teacher and researcher in the fields of investment banking, finance and analysis. Clarke created a personal finance course that is offered to all Georgia Tech students that provides the importance of budgeting, basics of credit, as well as more advanced financial topics such as investing and trading. He’s an expert in the field and is available to speak with media about economics and the importance of financial literacy – simply click on his icon to arrange an interview. He has also developed a one-week summer course for high school students – Wall Street on West Peachtree and annually assists the Boy Scouts with obtaining their finance badge.
College readiness: Why it’s time to turn the page on one-off developmental courses
With summer officially here, millions of recent high school graduates and adult learners alike are preparing for college this fall. Unfortunately, a large percentage of them need developmental courses in order to advance, and many of those students will drop out within their first year—victims of a college preparedness approach that is generally not working. While it is true that education provides one of the surest pathways to a better life, millions of individuals do not have the academic background, confidence, mindset, and study habits to succeed in postsecondary programs and achieve their career dreams. Underprepared students face serious hurdles when attempting to enroll in college, and often struggle with one or more of the following: Poor self-image, lack of confidence (and overconfidence), and undeveloped study skills Weak math skills and math phobia Poor writing/language skills Lack of preparation for rigorous reading of texts, analytical thinking, and problem-solving Despite the poor track record, an estimated $7 billion is spent annually on traditional remedial education by students and institutions. According to research, 68 percent of community college students and 40 percent of public four-year college students take at least one developmental course, and among them less than 10 percent of two-year students graduate within three years, and only 35 percent of four-year students graduate within six years. Solutions exist, according Pat Partridge, president of WGU Academy—an independent nonprofit entity established by Western Governors University (WGU) to help solve the growing college-readiness gap. He suggests that for college readiness to be effective, programs must incorporate noncognitive personal competencies. “The Academy’s approach is based on the premise that to make college-readiness effective we must address the whole person rather than just getting them through one-off math or English courses to satisfy admissions requirements. Our two-pronged approach to preparing students—focused on academic coursework and noncognitive personal skills—is challenging traditional thinking paradigms that are not working well. The program is designed to be transformative for students who need confidence and persistence, social and emotional learning skills, and customized support to position them for long-term academic and career success.” Studies show that students and families pay an extra $3,000 on skills and content they should have learned in high school—a hefty price for courses that typically offer no transferable credits. Partridge suggests that programs like Academy—which uses an online, competency-based learning model similar to WGU’s—can change that by offering a scalable, replicable solution. WGU Academy students pay $150 per month, and most enrollees should finish the program in three to four months, or even less—making it a low-cost, low-risk solution. And the courses are ACE (American Council on Education) recommended, which hundreds of colleges and universities recognize. “The challenge is far larger than WGU alone can tackle, which is why Academy is designed to help serve hundreds of thousands of individuals who are not likely to attend WGU” Partridge noted. “We look forward to working with other entities that share the same mission to help individuals succeed in college and their careers—both recent high school grads and adults—by boosting completion rates.” WGU Academy’s first partnership is with tnAchieves in support of Tennessee’s flagship scholarship program that allows any resident without a postsecondary certification to attend community college tuition-free. WGU Academy, which launched May 1, 2019, already has more than 600 enrolled students. To speak with Partridge, contact WGU Academy’s PR Business Partner, Matt Griffin, at matt.griffin@wgu.edu or (615) 472-6056.
There’s no question about it – our planet has a problem with plastic. Though simple, cheap, convenient and often necessary, the reality is single use and non-reusable plastics like straws, plastic bags, wrapping and most containers are causing problems. There’s no hiding or ignoring the evidence – plastic is everywhere from landfills, to our rivers and streams and even occupying its own land mass in the ocean. Recently Canada proposed a ban on single use plastics to come in to effect in 2021. The country joined the likes of France, Germany, Italy, the U.K. and the European Union who are all implementing similar policies. The United States, however – has not. Here are some facts from the Center for Biological Diversity. Americans use 100 billion plastic bags a year, which require 12 million barrels of oil to manufacture. The average American family takes home almost 1,500 plastic shopping bags a year. According to Waste Management, only 1 percent of plastic bags are returned for recycling. That means that the average family only recycles 15 bags a year; the rest ends up in landfills as litter. Up to 80 percent of ocean plastic pollution enters the ocean from land. 100,000 marine animals are killed by plastic bags annually. One in three leatherback sea turtles have been found with plastic in their stomachs. Plastic bags are used for an average of 12 minutes. It takes 500 (or more) years for a plastic bag to degrade in a landfill. Unfortunately, the bags don't break down completely but instead photo-degrade, becoming microplastics that absorb toxins and continue to pollute the environment There is no doubt plastic is a serious problem in America – but will the country join in? What will it take from an industry point of view? Will costs outweigh the benefit? Is this a matter of regulation and do Americans have the appetite to make this a political issue? There are a lot of questions and that’s where our experts can help. Dr. Beril Toktay is Professor of Operations Management, Brady Family Chairholder and ADVANCE Professor at Georgia Tech’s Scheller College of Business. She’s the founding Faculty Director of the Ray C. Anderson Center for Sustainable Business. She’s an expert in the areas of sustainable operations and supply chain management, with a special focus on the circular economy. Beril is available to speak about this issue with media – simply click on her icon to arrange an interview.
The world is watching and teams from all corners of the globe have descended on France for the 2019 Women’s World Cup. FIFA is making money hand over fist – but when it comes to funding and prizes between men and women – FIFA is coming up seriously short. In fact, men receive almost 10 times more money in prizes than women. Here’s a snapshot of the overall purse: $US400 million - what FIFA paid in prize money for the 2018 men's World Cup. $US30 million - what it's proposing to give teams at the 2019 Women's World Cup. It’s a stark difference – but why? Is this a matter of what the market can bare? Why do the women make only a fraction of their male counterparts? Is FIFA obligated to help develop women’s soccer? Or, does this system need to change and how does that happen? That’s where our experts can help. Professor Andrew Wonders joined the faculty of the School of Business Administration in 2013 following a 13-year career in the sport industry. His past experience includes working for Olympic organizing committees in Sydney and Salt Lake City and for the host broadcaster for the 2002 World Cup. Andrew is available to speak to this issue with media, simply click on his icon to arrange an interview today.
Do small businesses need to worry about the Canada Training Benefit?
The recent federal budget was supposed to be good news. The Canada Training Benefit would give workers money to help pay for training, provide income support during training, and offer job protection so that workers can take the time they need to keep their skills relevant and in-demand. Seems simple, but when you look deeper at the details – there may be some serious risks to small businesses in Canada. "Canada's skilled labour shortage is getting worse, and small firms are the hardest hit," CFIB president Dan Kelly. "Providing a training benefit to workers is a positive step, but the needs of employers need to be factored into the equation." Employers would be required to provide leave and job-protection to employees regardless of the type of training an employee wishes to pursue, such as Latin classes or interpretive dance. The program, well-intentioned, will have an impact on small businesses in Ontario and across Canada with a lot of scenarios and aspects to consider! We have an expert who can help. Corey Houle, Principal at Freelandt Caldwell Reilly LLP, is an expert in the areas of small business strategy. Contact Corey to arrange an appointment regarding this topic by clicking the contact button below. Sources:
New book reveals how to successfully navigate the uncertainties that sink most startups
INDIANAPOLIS – Research shows that the majority of startups fail. Even more never get off the ground. So how do you avoid the pitfalls that come with navigating the uncertainties of a startup? A new book entitled The Titanic Effect: Successfully Navigating the Uncertainties that Sink Most Startups, guides early-stage startups and their supporters through the challenges they will encounter as they begin building their venture. Startups are inherently uncertain. Decisions have to be made with incomplete information. These decisions result in unanticipated consequences –- problems that lurk beneath the surface. The book draws on lessons learned from the Titanic, which sunk in 1912 not only because it hit an iceberg, but because of a number of decisions that interacted to create one of the largest maritime disasters. A series of trade-offs and choices in the design, building and operating of the Titanic magnified the catastrophic consequences. Co-authors M. Kim Saxton, clinical professor of marketing at the IU Kelley School of Business, Todd Saxton, associate professor of entrepreneurship and strategy at the IU Kelley School of Business, along with serial entrepreneur Michael Cloran, who has founded multiple startups, leverage decades of startup experience to reveal the often-overlooked human, marketing and technical “hidden debts” that sink startups, while drawing parallels to little known parts of the original Titanic story. “The idea for this book came from a conversation about ‘technical debt,’ often used in a software development context, in which shortcuts taken early in a startup’s life limit potential later,” said Todd Saxton. “But this challenge isn’t unique to product development; it applies to other domains as well. That led us to broaden the idea to a more holistic one—That we call in our book ‘hidden debt,’ or debts that are beneath the surface but can limit growth or sink even the most promising startup.” “Most books about entrepreneurship and startups are ‘how-to’s,’ detailing all the things you have to do to succeed when creating your own venture. Our book tells you what not to do, and it shows you how to identify the potential issues that could keep you from being successful,” said Michael Cloran. The Titanic Effect explains that taking on these hidden debts is inevitable, but startups must be careful to recognize that debt and take steps to mitigate the risks. “Over our more than 20 years of working with student, alumni and venture community startups—and helping launch and investing in them as well--we have seen the same patterns of mistakes repeated over and over again,” explained Kim Saxton. “We made a list of the most common startup mistakes, and that’s the main focus of this book. Our goal is to bring these so-called ‘icebergs’—or ‘debt-bergs,’ as we call them—out of hiding. Debt is not necessarily bad as long as you recognize, measure and manage it.” “Entrepreneurs make a lot of decisions under uncertainty, and often, they don’t fully understand the consequences of those decisions,” Saxton added. “Each decision has the potential to either enable – or hamper – future potential. At best, the wrong decision could limit how the startup can grow. At worst, it could cause ventures to sink.” The Titanic Effect is available as an e-book and will be available June 2019 in print. For more information, head to the book’s website here.
Covering World No Tobacco Day – Let our experts help!
May 31 is the WHO’s World No Tobacco Day. And despite all the awareness campaigns, education and advice – people are still lighting up. In fact, according to the CDC: More than 16 million Americans are living with a disease caused by smoking. Cigarette smoking is responsible for more than 480,000 deaths per year in the United States, including more than 41,000 deaths resulting from second-hand smoke exposure. This is about one in five deaths annually, or 1,300 deaths every day. On average, smokers die 10 years earlier than non-smokers. If smoking continues at the current rate among U.S. youth, 5.6 million of today’s Americans younger than 18 years of age are expected to die prematurely from a smoking-related illness. This represents about one in every 13 Americans aged 17 years or younger who are alive today. With marketing toward youth increasing and e-cigarettes and vaping now a part of the mainstream – is the fight against big tobacco becoming even harder? There’s a lot there to cover and that’s where our experts can help. Dr. Martha Tingen is a behavioral nurse scientist targeting prevention of tobacco use in children. She is available to speak with media any time – simply click on her icon to arrange an interview.
