High-throughput satellite (HTS) services will enable growth in the overall satellite communications market despite a rapid decline in traditional fixed satellite capacity sales over the next 10 years, according to Euroconsult.According to the satellite research group, annual regular capacity revenues will decline by US$2 billion (€1.67 billion) over the forecast period, thanks to intense downward pressure on prices. However, the overall satellite communications market is expected to grow to US$15.3 billion by 2026, driven by uptake of HTS services.With traditional wholesale capacity set to become a commodity, satellite operators are expected to focus on becoming maagned service providers to get closer to their end customers. Growth in satellite TV distribution will continue to emerging markets, alongside government programs for rural connectivity, enterprise networks and cellular backhaul.In more mature markets, some historical businesses will erode, potentially including TV distribution, according to Euroconsult. In the meantime, new growth opportunities for mobility, broadband access and wireless network extension should be enabled by new satellite solutions.“The last two years have confirmed the appeal of HTS for several user segments through the signing of capacity contracts and the endorsement of broadband LEO constellation projects by companies such as SoftBank,” said Pacome Revillon, CEO of Euroconsult and editor of the report.“The leasing of larger capacity volumes will however be at the expense of lower pricing, also in a context of heightening competition. HTS market revenues should increase significantly over the coming decade to more than 50% of FSS market revenues by 2026. Moving forward, HTS systems will represent a driving force for data segments, with regular wide-beam capacity continuing to occupy a complementary role. This regular capacity will remain key to the TV broadcasting business.”
The South African government’s communications department has set a deadline of March 31 for registration to receive subsidised digital-terrestrial set-top boxes in the North West and Free State provinces.Families earning below ZAR3,200 (€189) qualify to receive the government-subsidised decoders. Qualifying households can register at their nearest Post Office.Communications department officials are currently taking registrations and supervising installations of decoders in the two provinces.The South African government has committed to switching off analogue TV in June next year, following a long and difficult digital transition process that has seen multiple delays.Mmamoloko Kubayi-NgubaneDigital switchover was finally initiated in the Northern Cape region at the end of 2016, after a year of dual-illumination of digital and analogue signals. The process had been plagued by multiple controversies including a battle between the government and commercial broadcaster E.tv over whether signals should be encrypted. The commercial broadcaster wanted to ensure that signals – particularly HDTV signals – were encrypted, which was opposed by the government and other broadcasters.The country’s Constitutional Court ruled in June last year that government-subsidised set-top boxes should not be encrypted.In other South African news, pay TV operator Multichoice has confirmed it will remove news channel Africa News Network 7 from the DSTV bouquet when its contract expires in August.The move follows a MultiChoice investigation over alleged wrongdoing related to its contract with ANN7, which was owned until earlier this year by the controversial Gupta family.“I wish to express my disappointment that the viewers of DSTV will not have access to the diversity of voices that ANN7 has also contributed to the country’s media landscape. However there is a lesson to be learned going forward in that, as government we need to look at how our current policies are structured in relation to increasing diversity of media ownership,” said communications minister Mmamoloko Kubayi-Ngubane.
Subscribers to Deutsche Telekom’s Magenta TV service now have a access to the full range of 4K UHD TV programmes offered by commercial broadcaster RTL.The launch of RTL UHD on Magenta TV will bring additional sports, series and movies in the format to Telekom’s subscribers, kicking off with the run-up to and broadcast of yesterday’s Formula 1 Grand Prix from Abu Dhabi.The RTL UHD offering will include all football matches aired on RTL next year including selected UEFA Europa League matches.Entertainment available in 4K UHD will include RTL drama Sankt Maik.Magenta TV’s UHD offering currently includes on-demand services Videoload, Netflix, Amazon Prime Video and YouTube as well as content from Sky. To receive 4K UHD TV, customers must have signed up to a MagentaZuhause plan that in includes 100Mbps downstream internet access.“We are delighted with this cooperation with RTL MedienGruppe. We are offering our customers even more UHD entertainment. This is how we live up to the claim to provide our customers with the best TV experience,” said Deutsche Telekom head of TV Wolfgang Elsäßer.Last month Deutsche Telekom revamped its domestic TV service, changing its name from Entertain TV to Magenta TV and introducing a new user interface and more on-demand content.
Ginx Esports TV has adopted the Zixi Platform for broadcast-quality delivery over IP of its global live Esports coverage.Ginx’s content is produced and recorded at its studios in London and distributed throughout the world in more than 10 languages. The broadcaster offers linear channels to the UK, France, South Africa, USA, Canada and claims to be available in more than 55 million homes across the world.“As a linear channel, distribution is a key ingredient. Without getting to the head ends of pay TV platforms our business model wouldn’t work,” said Sebastian Gomez, head of technical operations at Ginx Esports TV.“Our distribution used to be managed externally and done via satellite, but moving to Zixi has allowed us to have a very cost effective distribution system that can be managed in-house – it has given us independence and control of all our feeds.”Zixi’s director of international sales, Michael Poppler, said: “Esports is growing at an unprecedented rate, and the audiences are very demanding in terms of the viewing experience, so a poor-quality feed is not an option. With the Zixi Platform, Ginx Esports TV can rely on secure, broadcast quality delivery of its content around the world, 24/7.”Zixi provides a cloud-based and on-premise software platform that enables video delivery over IP.
Comcast this week came good on its promise of a bid for Sky, throwing a spanner in the works of 21st Century Fox’s moves to consolidate the pay TV operator ahead of its own acquisition by Disney.The £22 billion (€25 billion) bid means it is now far from clear how Fox’s plans will pan out. Fox will be under pressure to up its bid for the UK-based pay TV operator, and it seems likely that it will do so, because Sky is a keystone of Disney’s ambition to build an international business spanning content creation and distribution that will give it the scale to compete head-to-head with big tech players converging on the coveted media space.Fox now faces uncertainty on two fronts. It is still not cleared to complete its acquisition of Sky, which the UK Competition and Markets Authority is investigating on grounds of whether it will compromise media plurality. There is still plenty of political opposition to a deal, and it is still the case that the CMA’s provisional finding was that the deal s not in the public interest. That has led Fox to offer to either sell Sky News or bring about a legal separation and ring-fencing of the channel.Fox said that both proposals “comprehensively address any plurality concerns the CMA may have” and would guarantee Sky News’ future and editorial independence.Interestingly, the fate of Sky News figured prominently in Comcast CEO Brian Roberts’ remarks about how Sky fitted into Comcast’s wider strategy to UK investors. He said that Comcast would “fully maintain” Sky News’ “strong track record for high-quality editorial and journalistic independence”.Speaking separately to US investors and analyst, Comcast finance chief Michael Cavanagh said that the deal was “not trying to solve for just being international for the sake of being international” and emphasised that Comcast was “not striving for diversification internationally just for its own sake”. The attraction of the deal was Sky’s specific value and performance, he said.When Comcast initially indicated it would bid for Sky in February, ahead of the firm offer that was announced this week, there was much speculation about the US cable giant’s intentions, particularly in view of the fact that it was known to have previously made a move to acquire 21st Century Fox itself , a move that was rejected by Fox, supposedly on the grounds that it was less likely to be successfully executed than Disney bid.The firming up of the offer indicates that Comcast is serious, but it remains the case that one major effect is to discomfit both Fox and Disney.Fox and Disney are now likely to be locked in discussion about how to proceed. If Fox raises its bid for Sky, that will have an impact on the terms of Disney’s bid for Fox. If Comcast succeeds in acquiring the bulk of Sky’s shares – but not Fox’s 39% – the value of Fox to Disney is diminished significantly.If Comcast succeeds in its bid and an amended Disney-Fox deal is completed, the scene would be set for Sky to emerge as an uncomfortable Disney-Comcast JV – a situation that would be unlikely to persist for the long term. Disney could offer to acquire Comcast’s stake at a premium and for Comcast to sell, or vice versa.The stakes for both companies are high – but particularly for Disney. Another scenario could be for Disney to bid separately for Sky ahead of completing an amended Fox deal, but it will be wary about getting into a bidding war. The most likely scenario remains a counter-bid by Fox, backed by Disney. Whatever the outcome, it seems that Fox and Disney are likely to have to cough up quite a bit extra to realise their dream.
Toronto-based enterprise software solutions firm Enghouse Systems has completed its acquisition of Espial Group.Espial provides video service providers (VSPs) with a cloud-based software platform for their video and entertainment services. The company’s software is in millions of operator-managed set-top boxes internationally.In a statement, Enghouse said that Espial “enables VSPs to bring to market new IP and app-based video services quickly, while providing them with continuous innovation and valuable insights”. Espial’s SaaS video platform includes scalable cloud-based server and client software for AndroidTV and Reference Design Kit based set-top boxes and apps for a variety of consumer goods and services. These include mobile phones, tablets and streaming services like Smart TV, AndroidTV, Roku, FireTV and AppleTV. Espial also offers VSPs and device manufacturers its software components and professional services as a solution for on-premise network deployments.Stephen Sadler, chairman and CEO of Enghouse, said: “Espial’s TV as a service suite of applications adds a new media and content offering to our Enghouse Networks telecommunications service provider portfolio, enabling our global customers to deliver emerging, next generation IP and 5G network subscriber services.“We are pleased to welcome Espial’s customers, employees and partners to our organisation.”
Councillor Hassan said: “I welcome the recovery of these cars.“There have been a number of problems highlighted in recent weeks in regards to the theft and burning of cars, run-arounds, death riding.“All of this is having a negative impact on the local community at a time when so much positive work is happening in the districts. ShareTweet Sinn Fein Cllr Tony HassanSINN Féin Councillor Tony Hassan has welcomed the news that the PSNI have recovered two cars stolen in the Culmore area of Derry.The operation involved the assistance of An Garda Siochana in Donegal.There has been ongoing problems with car crime and anti-social behaviour across Derry. “I would urge anyone who has information on those involved in such criminality to bring it forward.”HASSAN WELCOMES RECOVERY OF STOLEN CARS IN CULMORE was last modified: July 25th, 2016 by John2John2 Tags: COUNCILLOR TONY HASSANHASSAN WELCOMES RECOVERY OF STOLEN CARS IN CULMORESinn Fein
“He was the kindest person, he was never spiteful, judgemental or rude. He had banter for days and I still can’t even believe I will never hear that loud laugh or see that Cheshire cat smile again that made whatever worry I had on my mind dissolve.” Heartbroken: Katy B.Headline act Katy B has pulled out of tomorrow night’s MTV Crashes Derry gig following the death of her brother.On its official twitter account, MTV said: “Due to a family bereavement, @KatyB has had to cancel her performance at #MTVCrashes Derry.”The music channel added AfroJack, Professor Green and MNEK would still perform at the Ebrington venue. It is unclear whether Katy B will be replaced.The pop star has cancelled all appearances for the forseeable future following the death of her brother, Andrew.Katy B, whose real name is Kathleen Anne Brien, took to Instagram to pay tribute to her only brother.She said: “This morning, the most beautiful soul I ever knew passed away. He had a cardiac arrest and his heart stopped. I am still in total and utter shock. My one and only brother Andrew Brien did not deserve to die this young. ShareTweet KATY B PULLS OUT OF MTV CRASHES DERRY: STAR HEARTBROKEN FOLLOWING DEATH OF BROTHER was last modified: September 18th, 2014 by stephenstephen Tags: bbrothercancelscrashesdeathDerrykatymtv
Next PostTrump urges supporters to vote in wake of Kavanaugh hearing Tumblr Daniella Hankey Mail Cabell County has more than 200 confirmed cases. It had not had a diagnosed case in the past five years, but at its peak averaged 20 new cases per week through July. Linkedin Twitter Google+ Pinterest HUNTINGTON, W.Va. (AP) — A health department says a West Virginia county’s hepatitis A outbreak appears to be past its peak. Home NewsWatch Health County’s hepatitis A outbreak appears to be past its peak Facebook Previous PostTwo casinos in West Virginia delay launching sports betting HealthNewsWatchState News County’s hepatitis A outbreak appears to be past its peak By Daniella HankeySep 30, 2018, 08:11 am 362 0 Dr. Michael Kilkenny with the Cabell-Huntington Health Department said the peak of the epidemic occurred in July and has been gradually reducing.The decline gives no indication of when the number of new hepatitis A cases will return to more typical levels, he said.
In This Issue. * Dollar rally fades to being the week. * RBA meets tonight, and ECB on Thursday. * U.S. Eurozone & Canadian manufacturing jumps! * Chuck begins to list reasons for Gold. And, Now, Today’s Pfennig For Your Thoughts! China Gains 17% Of Global Trade in Renminbi! Good day. And a Marvelous Monday to you! Well, my beloved Missouri Tigers got back on the winning tracks on Saturday, but the Rams found a way to lose once again. UGH! The weather here in St. Louis was chilly but sunny, and the sun is a rarity in November, with steel gray days the norm, so we had a treat! It warmed up enough for me to fire up the Big Green Egg yesterday, so that always puts me in a good mood! The dollar rally that was well in place on Friday, carried out through the end of the week. The dollar rally began with the FOMC so-called hawkish statement, then received some support from the weak inflation data from the Eurozone, and then a stronger than expected ISM Manufacturing Index. So, let’s start there, and begin to work our way through everything today. Well, it appears that China wasn’t the only country to print a stronger ISM (manufacturing ) Index. The U.S. came in stronger than expected at 56.4, and Canada came in stronger than expected too at 55.6. First the U.S. the ISM was boosted by resilient motor vehicle sales (cars had to be built!) and the recovery in housing (things for the homes have to be manufactured!) So, that was good. the other thing to think about, was that obviously, the disruptions in Washington D.C. didn’t slow down the country’s manufacturing! And let’s not forget that the dollar HAD been on the slippery slope from August until last week, so the weaker dollar sure played a big part of the manufacturing recovery, for exports of those goods were more competitive, price wise. Canada’s Manufacturing Index hit its highest level in two and one-half years! All 5 components to the index contributed to the improvement in October. So, it appears that the global economy is manufacturing at a strong pace, but then, the three we’ve talked about in the past week, have all had their currencies either weakened recently, or held back like in the case of China. This morning, the currencies appear to be attempting to rebound, with the Big Dog euro in the lead, and the usual suspects following in line behind the Big Dog. The euro received a boost after hitting a 6-week low on Friday, from a stronger than expected Manufacturing report for the Eurozone. The European Central Bank (ECB) will meet this week (Thursday), and while I don’t expect any rate move from the ECB, I do expect them to mention the strong euro (obviously not as strong as early last week!) , and the weak inflation data. That will crack open the door to a rate cut either before the end of the year, or early next year, and any cracking open of the rate cut door, will not help the euro, folks. So, for the euro’s sake, I hope that ECB President, Draghi, declines from cracking open any doors! The Reserve Bank of Australia (RBA) will also meet this week, actually tonight. The RBA will go into the meeting knowing that September Retail Sales printed much better than expected, coming in at +.8% (+.4% was expected), and that last week Consumer Confidence was very strong. I would have to think that pushes the rate cut fears that have been tugging at the Aussie dollar (A$) every time the currency pushes higher. So, as I’ve said many times in the past. I don’t expect the RBA to cut rates any more in this rate cut cycle. But you won’t hear the RBA mutter those words or even dare to put them in writing, for that would be giving a green light to the markets to mark up the A$, which is something the RBA is fearful of, which is why they live with house prices rising 1.9% in the 3rd QTR, and refuse to hike rates. Heading North from Australia, the Chinese continued to weaken the renminbi overnight, the Gov’t here is really attempting to show the markets who’s in charge of pushing the renminbi / yuan envelope. Hey! They might as well do it while they can, for when they drop their pet to a basket of currencies and allow the renminbi / yuan to float, they’ll no longer have a “fixing” each day to set the currency’s level. Then they’ll have to resort to what’s called a “dirty float”, which is what the rest of the world’s central banks use to verbally and monetary policy direct their respective currency’s value. But in the end the markets choose the value. Speaking of China. You know. It wasn’t that long ago that China’s percent of global trade in renminbi was zero. But get this, you know all those currency swap agreements that I’ve been talking about for the past 4 years? Well, they generated 17% of the global trade last year! That’s right folks, 17% of the global trade is now done in renminbi! Now, do those swap agreements begin to turn the light bulb over your head now that you hear that? And that percentage will only grow, as more trade partners have signed swap agreements in the past few months! 17% of global trade in renminbi. That’s 17% less global trade in U.S. dollars, folks. That also means its 17% less U.S. dollar reserves that Central Banks need to hold. And why has the renminbi / yuan grown so quickly? Ahhh grasshopper, it’s all about the U.S. accumulation of massive debt, and what they’ll have to eventually do to correct their mess. The Debt is the problem, as I’ve explained here for many years, and instead of getting better, it has only gotten worse. That’s why I was glad to see a Fed Head, and one that will be voting member next year, speak up about the debt, and what it’s doing to us. Here’s Dallas Fed Reserve president, Richard Fisher. “I’m not a proponent of increasing government spending without restraint. The excessively over-indebted U.S. Gov’t has, as mentioned, been hog-tied, prevented from providing stimulus. It has thus played a counter-cyclical, suppressive role. We have a government that hasn’t been able to agree on a budget in five years; that has historically, under both Republican and Democrat presidents and congresses, spent money and committed itself to fund long-term programs without devising revenue streams to cover the current costs or fund future liabilities.” Chuck again. WOW! Now, that’s what a U.S. Fed Head should sound like! Instead we get the usual “Fed speak”. Which doesn’t do any of us any good, for they say two things at once, and then come back later and say, “see I told you”. What? Well, Gold didn’t have a good end of the week, after the FOMC meeting last Wednesday, but that didn’t stop the shiny metal from putting in a strong performance for the latter part of the month of October after hitting a low of $1,251 on October 15. I always stop to think about Gold’s value, even at home folks. And whenever I do, my mind begins racing with all sorts of reasons why Gold should continue to climb.. Let’s start with the 47.6 million Americans that represent 23.1 million households on food stamps. The bill for this will amount to $63.4 Billion. Who’s going to pay for that? Or do we just go deeper into debt? Yes, I told you a couple of weeks ago that there was going to be a cut to the monthly amount in the Food Stamps program, that would kick in on November 1st. But, that will only cut $5 Billion from the program next year, and remember, the Gov’t is still recruiting people to sign up for the program! But let’s not dwell on this too long, for it gets depressing. Instead, let’s skip over the 3 rounds of Quantitative Easing (QE). Sure, the Gov’t printing money for 4 years hasn’t produced runaway inflation as most would have thought we would have seen by now, but remember, the velocity of money is nonexistent right now. When banks begin to let go of the reins holding back the velocity of money. they’ll be no holding back runaway inflation! And let’s not forget about those $127 Trillion, of Unfunded Liabilities, that professor Lawrence Kotlikoff says is really $222 Trillion today. And, that 10,000 Baby Boomers will retire today, and tomorrow, and the next day, and every day for the next 18 years! What will that Unfunded Liabilities # be, let’s say in 10 years? OMG! And then the number one reason to own Gold, in my opinion, is the store of wealth. Enough said! The U.S. data cupboard takes a breather this week, and backs off the plethora of data that it has printed lately. There won’t be much in the way of market moving data this week, with Leading Indicators and 3rd QTR estimate of GDP sprinkled in throughout the week, so the markets will have to depend on the Central Bank statements for direction. For What It’s Worth. I have something for you today, from my friend, Bill Bonner. On Friday, I received friend Bill Bonner’s daily letter. His new letter is now called: Diary of a Rogue Economist where you can find his entire letter: http://www.bonnerandpartners.com/category/dre/ I found something that he said on Friday to play well in the sandbox with what I’m always telling you, so you know me, I think it to be important to hear these things from more than one individual. (even though that one individual is honest, trust worthy, all-American boy like me! HAHAHAHA!) Here’s Bill, who earlier in his letter said what I had said on Friday, about how the markets are back to the tapering thought, but he doesn’t believe the markets are correct here. “As to real demand – what you get from increases in real wealth and real prosperity – the Fed knows nothing. except that it can’t help. The Fed is not stimulating a recovery. But it is simulating one – with phony demand coming from phony asset prices based on phony low interest rates. And now it can’t take off the mask. Because then all the disguises, false beards, and fraudulent get-ups would have to come off too – like the day after Halloween. Then we’d see things for what they really are. Then we would realize that much of our stock values, our standards of living, our earnings and our balance sheets are all based on a lie – the lie of constantly expanding credit. Since the early 1980s, credit growth has been increasing roughly twice as fast as US economic growth in real (inflation-adjusted) terms. That’s when everyone came to believe that “deficits don’t matter.” But deficits do matter. Because when you increase your debt faster than your income for 30 years, you end up with a lot more debt than income. You also find yourself at a dead end. Your economy has come to depend on something that can’t continue. You can’t run up your debt levels forever. Eventually, forever comes. And then the masks drop . the beards fall to the ground . and the costumes come off. In short, our economy is living on borrowed money and borrowed time. When the Fed stops suppressing interest rates, its time will be up.” – Bill Bonner Chuck again. Telling it like it is. Aaron Neville style. That’s Bill Bonner! To recap. The dollar rally that began with the FOMC statement last Wednesday, carried through to the end of the week, but appears to be slipping this morning, with the euro leading the pack after a stronger than expected Manufacturing report from the Eurozone. The ECB will meet this Thursday, no rate move is expected, but Draghi could begin to lay the tracks for one later. The RBA will meet tonight, again, no rate move is expected, but the statement could prove to be difficult for the A$. China gains 17% of global trade in renminbi in the last year. Now do you begin to get the picture of what those currency swap agreements are doing? Currencies today 11/4/13. American Style: A$ .9505, kiwi .8310, C$ .9610, euro 1.3510, sterling 1.5975, Swiss $1.0965, . European Style: rand 10.1775, krone 5.9390, SEK 6.4920, forint 218.85, zloty 3.0920, koruna 19.1225, RUB 32.43, yen 98.65, sing 1.2430, HKD 7.7525, INR 61.72, China 6.1382, pesos 13.01, BRL 2.2465, Dollar Index 80.59, Oil $94.74, 10-year 2.61%, Silver $21.83, Platinum $1,456.38, Palladium $743.53 (did you read Tim Smith’s Sunday Pfennig on Palladium?) and Gold. $1.318.25 That’s it for today. Well, my first weekend without Cardinals baseball since last March, was sure missing something! Our Blues split a pair of games on the road this weekend, they’re off to a good start, let’s hope they can build on it this year. Little Braden Charles spent the night with us Saturday night, and watched the Mizzou Tigers game with me. He kept calling it baseball though, so I’m not sure how much he really watched! My stomach finally quit bothering me yesterday, let’s hope that continues a couple of more days! I was doing some writing on Saturday morning for an upcoming project. I was reflecting on a lot of things, and started to become depressed, so I stopped! So, you can look forward to reading that at some point in the future! HA! NOT! You and me, dear reader! We’re like the song that’s playing on the IPod right now. The Turtles singing: Happy Together! Now, go out and have a Marvelous Monday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837
In This Issue. * Tensions in Yemen worry markets. * Higher oil supports commodity currencies. * Bullard suggests it is time to start ‘normalizing’ rates. * Gold posts the longest winning streak in over a year. And Now. Today’s A Pfennig For Your Thoughts. Saudi bombing in Yemen has markets worried. We will again start todays Pfennig off with some thoughts from the big boss Frank Trotter: Saint Louis, Missouri – Now that my wandering has turned from physical to virtual I spent some time over in Germany this afternoon courtesy of Der Spiegel’s online international edition. Along with 31 other publications worldwide it’s a site I have set up to open each morning as I turn on the computer. Over the day in dribs and drabs I get to scan each one and either close quickly or dig deep. It seems that in Europe less fortunate countries are starting to use the politically charged term “Fourth Reich” when describing Germany1. It is of course crying over spilled milk since Germany has been successful and has money while the others spent theirs in the 2000’s without a plan for repayment, but like many false statements by politicians it has the potential to gain traction and become a rallying cry that changes the course of action. Just think our own government placing 100% of the Great Recession blame on mortgage lending alone. Clicking though some links brought me to an interview with Thomas Piketty2. I haven’t found common cause with him yet in any of his writings and today was no different. Discussing Greece he suggested that a response to the debt troubles of countries like Greece should be collective and was asked: “So others should now pay for the decades of mismanagement by governments in Athens?” He responded: “It’s time for us to think about the young generation of Europeans. For many of them, it is extremely difficult to find work at all. Should we tell them: “Sorry, but your parents and grandparents are the reason you can’t find a job?” Do we really want a European model of cross-generational collective punishment?” Around here in the Pfenning we have railed for years that debts incurred today will be a loadstone for future generations. Perhaps Thomas has shown me the light – it’s really about the youth so there’s no real need to pay off the debt you incurred, just get someone else to do so. Having been inundated with a similar argument from the Argentinian government suggesting that prior debts do not have to be repaid, and of course seeing that play out during the mortgage crisis – they forced me to borrow – I have tired of the populist approach. The math just doesn’t work when the debt gets to some magical and so far undetermined level. But when the magic line is breached then as firms found in 2008: Liquidity only matters when it’s the only thing that matters. Thanks to Frank for kicking off today’s Pfennig. Bombing runs in Yemen conducted by the Saudi air force overnight are dominating the markets today. With bombs dropping in Yemen investors pulled away from the global equity markets and sought out traditional safe havens. The Japanese yen moved higher, US treasuries rallied, and gold continued to climb. At this point I think this is just a knee-jerk reaction to the increased middle east tensions, and not necessarily a longer term pattern, but the war in Yemen which really looks like a conflict between Saudi Arabia and Iran is certainly pushing oil prices higher. Two of the top performing currencies are the ‘safe havens’ of the Swiss franc and Japanese yen. It is interesting to see the Swiss franc being sought out as a safe haven again now that the SNB dropped its peg to the euro. Crude oil surged above $50 yesterday and reached a high of $52.50 in overnight trading before settling in at just above $51 where it sits now. The increase in oil prices helped boost the commodity currencies of Canada, Norway and the Russia to nice gains this morning. The top performing currency this morning is the Canadian dollar which is up .78% vs. the US$. The Norwegian krone is the 4th best performer today, behind the CAD, CHF, and JPY. It is a bit surprising that the dollar is not seeing any ‘safe haven’ buying this morning. Sentiment has truly shifted for the dollar – with the bears finally emerging from their long hibernation. We continue to see all of the ‘long dollar’ positions reversing as more and more investors are reversing their bets on a June rate rise by the FOMC. St. Louis Fed Head Bullard was speaking in Frankfurt today and suggested that now may be a good time for the Fed to start ‘normalizing’ US monetary policy (fedspeak for interest rate increases). Bullard said “Now may be a good time to begin normalizing US monetary policy so that it is set appropriately for an improving economy over the next two years.” Bullard has always been seen as one of the more hawkish Fed Presidents, so it doesn’t necessarily surprise me that he is still pushing for the Fed to make their first move sooner rather than later. But he also pointed out the obvious during his speech in Frankfurt, “Even with some normalization, monetary policy will remain exceptionally accommodative.” Yesterday’s durable goods numbers released here in the US came in much weaker than expected, dropping 1.4% during February vs. an expectation of a .2% increase. January’s durable goods number was also revised lower to 2% vs. the original report of a 2.8% increase. Today we will see the weekly jobs data which is expected to show another 290k reading of initial jobless claims. We will also see the Markit US PMI Composite and Services numbers along with the KC Fed Manufacturing activity. A lot of data but nothing that should be ‘market moving’ here. I think the next real focus for investors is still a week away as we will see the monthly labor market report next Friday. The Fed has said they will be data dependent – with a sharp focus on wages and a recovery in the labor markets. Investors are going to be using the labor report to determine the timing of the first fed move. A strong labor report next Friday with good wage growth will cause a dollar rally as investors will pull their rate expectations back toward June. A weak jobs report will have the opposite effect, and further the recent dollar weakness. As I suggested yesterday, gold has now completed its best run since January of last year with six straight days of gains. Gold moved solidly above the big number of $1,200 and continues to move higher in early morning trading. The precious metals have benefitted from the weaker dollar and also saw their share of ‘safe haven’ buying overnight with the increased tensions in the middle east. Gold is also higher due to worries over a possible Greek exit as negotiations continue to drag out in the Eurozone. Silver has also seen a nice move and is trading above $17 again. Currencies today 3/26/15. American Style: A$ .7868, kiwi .7636, C$ .8052 euro 1.0997, sterling 1.4924, Swiss $ 1.0495. European Style: rand 11.869, krone 7.7883, SEK 8.48, forint 272.25, zloty 3.7059, koruna 24.908, RUB 56.565, yen 118.75, sing 1.3644, HKD 7.7539, INR 62.6486, China 6.1375, pesos 14.9816, BRL 3.1919., Dollar Index 96.552, Oil $50.86, 10-year 1.90%, Silver $17.08, Platinum $1,155.48, Palladium $767.38, and Gold. $1,208.50 Cold rain continues here in St. Louis, and after ‘shorts-weather’ last weekend I hear we could be in for some snow flurries in the next few days. Welcome to spring in St. Louis! We had a productive visit from our legal experts the past few days – working toward streamlining some of the required documents we send out to our WM clients. Hopefully Barry made it home safe last night, I’ll know in a few minutes as he is also the one who is responsible for reviewing the Pfennig. Mike will have the conn on the Pfennig tomorrow, as I have ‘swim class’. I swim down in Chuck’s hometown – and pass a plaque which bears Chuck’s name on my way into the Fenton RecPlex (Chuck was part of his town’s government when this nice recreation complex was built). Ok, time to get this out the door. I hope everyone has a good Thursday, and thanks for reading the Pfennig! Footnotes from Frank’s section: 1 – “’The Fourth Reich’: What Some Europeans See When They Look at Germany”, Der Spiegel Online, 25-March-2015, http://www.spiegel.de/international/germany/german-power-in-the-age-of-the-euro-crisis-a-1024714.html . 2 – “Thomas Piketty on the Euro Zone: ‘We Have Created a Monster’”, Der Spiegel Online, 10-March-2015, http://www.spiegel.de/international/europe/thomas-piketty-interview-about-the-european-financial-crisis-a-1022629.html. Chris Gaffney, CFA President EverBank World Markets
Tuscaloosa’s Children Hands-On Museum focused on Mother’s Day this weekend as they allowed kids to come by and make something special for their moms.There was a craft table where boys and girls created and decorated cards. CHOM offered an educational matching game, too, where kids pair animal moms with their young.But, maybe the most fun was a “What Do You Know About Your Mother?” game.“Some of the questions are like, ‘What’s your mom’s favorite thing to do, place to go, thing to eat or to drink?’” Kimberly Crabbe, who works at CHOM, said. “And, we get some really funny, funny stuff. Like, ‘My mom’s favorite place to go is Walmart,’ or ‘grocery shopping,’ or you know, ‘My mom’s favorite drink is something a little risky.’ “
GLENEAGLES, Scotland — Tom Watson walked over to congratulate Jamie Donaldson for the shot of his life, a shot that ended the Ryder Cup.He walked up the 15th fairway at Gleneagles with his arm around European captain Paul McGinley even before the final match was conceded to secure another win for Europe.Europe left no doubt who had the best team, if not the best players.This Ryder Cup provided a real surprise — but only after it was over. The strongest opponent Watson faced might have been one of his own players.Just as the European party was getting started, Phil Mickelson took a not-so-subtle dig at Watson — with the U.S. captain just six seats away on the dais — by questioning why the Americans have strayed from a winning formula in which the players were more involved.Mickelson praised Paul Azinger’s captaincy in 2008 — the only U.S. victory in the last 15 years — for creating a “pod” system in which players felt invested in every aspect of the team.“Nobody here was in any decision,” Mickelson said, which no doubt included Watson’s decision to bench Lefty for both sessions on Sept. 27 when Europe built a lead that was too much for this American team to overcome.Watson stared blankly as Mickelson spoke. When asked to respond, he was just as even in speech as Mickelson was in the back-handed criticism.“I had a different philosophy as far as being a captain of this team,” Watson said. “It takes 12 players to win. It’s not pods. It’s 12 players.”Watson said there would be room for second-guessing — every losing captain goes through that. “The bottom line is they kicked our butts,” Watson said.Even amid the American bickering, there was no doubting that.The score — Europe 16 1/2, United States 11 1/2 — was reflective of that. And so was the way Europe completed its eighth Ryder Cup victory over the last 10 times.It began with Rory McIlroy, the best player in the world producing a brand of golf that showed clearly why he won the last two majors. He was 6-under par in his opening six holes to build a 5-up lead over Rickie Fowler, the first point for Europe.Whatever hopes the Americans had building momentum was put to rest by Graeme McDowell and Justin Rose, both of whom overcame big deficits with rallies that made the outcome inevitable.And then there was Donaldson, the 38-year-old Ryder Cup rookie for Wales. Donaldson secured a tie when he was 4 up with four holes to play against Keegan Bradley.And then he gave this European performance the finish it deserved. Donaldson hit 9-iron from 146 yards onto the green at No. 15, and the ball kept rolling toward the flag until it settled about 18 inches away.Watson knew it was over and shook hands with Donaldson. Bradley walked onto the front of the green, saw the ball next to the hole and removed his cap. It was over.“It came down to me to close it out,” Donaldson said. “But it’s all about the team.”The PGA of America brought Watson back as captain — at 65, the oldest in Ryder Cup history — hopeful that he could repeat some history of his own. Watson was the last U.S. captain to win a Ryder Cup on European soil.That one ended with Davis Love III — in his first Ryder Cup — clinching the cup for the Americans by raising his hands in the air. This one ended badly for the Americans, in a conference room instead of on the course.Watson said he had a pit in his stomach watching the Americans blow a 10-6 lead at Medinah two years ago. The difference as captain?“Not a damn thing,” he said. “It hurts.”McGinley talked all week about a template of European success. The message was to embrace their role as the favorites, and to be proud that they had earned it. And the final instruction was to avoid complacency. Europe won the Sunday singles session for the second straight Ryder Cup.“I didn’t execute the plan. All these guys sitting at this table did,” McGinley said with the 17-inch trophy on display. “I know how difficult it is to play in a Ryder Cup. I know when your heart is jumping out of your chest how incredibly excited and nervous you are. But we relish this challenge. We did it with a smile on our face, which is so important. And we did everybody proud.”The Americans had a few bright spots. Patrick Reed led a solid debut of the three rookies, who accounted for about 45 percent of their team’s points.As For Europe?Watson had singled out Ian Poulter as the European with the best record and the man to beat. Poulter wound up playing only three matches and he didn’t win any of them, settling for two halves. But it wasn’t about Poulter. It was about Europe. What a team.(DOUG FERGUSON, AP Golf Writer)TweetPinShare0 Shares
PORTLAND, Oregon — Golden State’s Stephen Curry returned from a sprained right knee to score an NBA-record 17 points in overtime, finishing with 40 as the Warriors won 132-125 at Portland on May 9 to take a 3-1 lead in their second-round playoff series.The day’s other game also went to overtime, with Miami downing Toronto to square that series at two games apiece.Curry, playing for the first time since he was injured in the first-round series against Houston, was rusty for three quarters but sensational in the closing stages as the Warriors came from 16 points down to force overtime.Originally expected to play about 25 minutes off the bench, Curry picked up a heavier workload in the second half after Shaun Livingston, who had been starting in his absence, was ejected in the second quarter after arguing a call and picking up two technical fouls.His victorious return came hours after a person with knowledge of the award told The Associated Press that Curry would repeat as NBA MVP, with the announcement coming as early as May 10.The Warriors can win the series May 11 at home in Game 5.Damian Lillard finished with 36 points and 10 assists for Portland.Curry’s fast-break layup gave the defending NBA champions a 120-118 lead with 2:21 left in the extra period, and he followed with a 3-pointer.Harrison Barnes’ layup extended the lead to 125-118 and Portland couldn’t catch up. Klay Thompson finished with 23.In the fourth quarter, Draymond Green dunked to keep Golden State within 109-108. Mason Plumlee’s finger-roll layup extended Portland’s margin but Barnes tied it with a 3-pointer for Golden State with 51 seconds left, and both Lillard and Curry missed to force the OT.Curry led the Warriors to an NBA-record 73 wins in the regular season, a year after leading the team to its first NBA championship in 40 years. He averaged just over 30 points per game this season.The Blazers started strongly and led 16-2 when Curry came off the bench with 5:56 left in the first quarter.Portland led 67-57 at halftime, scoring a franchise playoff-record 41 points in the second quarter alone.Miami’s Dwyane Wade saved the Heat in regulation, then finished off overtime with an emphatic dunk as the hosts beat Toronto 94-87 on May 9 to tie their NBA second-round playoff series at 2-2.Wade scored 30 points and Goran Dragic had a huge three-point play with 22.4 seconds left in overtime.Dragic and Joe Johnson each scored 15 for the Heat, who rallied from a nine-point deficit in the fourth quarter. Game 5 is in Toronto on May 11.Terrence Ross and Cory Joseph each scored 14 for Toronto, which shot 39 percent. Bismack Biyombo and DeMarre Carroll added 13 apiece, while starting guards DeMar DeRozan and Kyle Lowry combined for 19 points on 6-for-28 shooting.Miami was down 77-68 midway through the fourth quarter, and still trailed 79-72 with 5 minutes left.Wade scored the next five points for Miami, getting the Heat within 79-77. The deficit was still two when Toronto’s Lowry fouled out with 1:58 left. The Heat finally got the equalizer with 12.6 seconds left.Joseph missed a jumper to end regulation and the Raptors scored a mere four points in the extra session.Wade tried a scoop shot from the right side of the lane in overtime. The ball bounced on the rim a few times, and stayed there, resulting in a jump ball that Toronto won with 58 seconds remaining. DeRozan scored on that possession to get Toronto within two, but the Raptors wouldn’t score again.TweetPinShare0 Shares
Karim Ansarifard scored twice on his European competition debut to give Olympiakos the boost it needed to see off host Osmanlispor with a 3-0 score in Ankara and advance to the last 16 of the Europa League on Thursday.With the first leg in Piraeus having ended goalless a week earlier, Olympiakos had to score away from home to advance to the next round of the competition, and did so three times in the second half in Turkey despite the tricky pitch.The first half was actually quite poor for Olympiakos, with the hosts having several occasions to open the score; however their finishing touch let them down time and again. The Reds committed several defensive errors and were lucky not to pay for them.Yet barely two minutes after the interval Seba took a corner, Alberto Botia tried a swerving header and Ansarifard tucked the ball in from close range for a dream debut in Europe with the Olympiakos jersey. The Iranian striker only got a place in the starting line-up because Brown Ideye appears destined for China.The goal turned the game on its head as the Turks clearly lacked the necessary experience – being at their first ever European campaign – to bounce back from this setback at home.Olympiakos started missing chances until the 70th minute when substitute Thanassis Androutsos tried a parallel cross to find Tarik Elyounoussi in the box and the Norwegian international headed the ball home for 2-0.The Turkish defense had crumbled and three minutes from time Ansarifard scored his second of the night heading the ball in after Osmanlispor keeper Zydrunas Karcemarskas had saved a Seba shot.The result is also preserving the job of manager Paulo Bento, as the Portuguese’s position had become somewhat precarious after the goalless draws with Osmnanlispor and Atromitos at home and the loss to AEK away last Sunday. The irony is that Bento’s job is safe thanks to a player he had chosen to keep out of the squad and resorted to using on Thursday due to Ideye’s departure.Notably the Osmanlispor fans surprised the Greeks with a banner that read “Dear neighbor, friendship will win” in Greek, English and Turkish.Olympiakos is joined in the last 16 of the Europa League by Cypriot champion APOEL, that defeated Athletic Bilbao 2-0 in Nicosia on Thursday and 4-3 on aggregate.Source: KathimeriniTweetPinShare0 Shares
HERAKLION, Crete – Former Greece’s national team coach (2001-2010) visited primary schools in Heraklion Creete on Tuesday.Rehhagel visited Crete in the context of the friendly football game between Barcelona veterans and Greek national team veterans, which will be held on Thursday 8 June at 18:30 at the municipality Stadium of Mytilene.Rehhagel has been the nation’s most successful footballing era – during his coaching period, the Greek team won the 2004 European Championship and qualified for the 2010 World Cup, their second ever World Cup finals participation.Otto Rehhagel visits Cretan primary schools on Tuesday, June 6, 2017. Photo: Eurokinissi SportsOtto Rehhagel visits Cretan primary schools on Tuesday, June 6, 2017. Photo: Eurokinissi SportsOtto Rehhagel visits Cretan primary schools on Tuesday, June 6, 2017. Photo: Eurokinissi SportsOtto Rehhagel visits Cretan primary schools on Tuesday, June 6, 2017. Photo: Eurokinissi SportsOtto Rehhagel visits Cretan primary schools on Tuesday, June 6, 2017. Photo: Eurokinissi SportsTweetPinShare33 Shares
ST. PETERSBURG, Russia (AP) — From his thigh to his foot to the back of the net, Lionel Messi finally scored a goal at this year’s World Cup.The exquisite strike from the Argentina great sparked the first of several celebrations from an animated Diego Maradona, who screamed, shouted and made obscene gestures — and raised concerns for his health.Argentina staved off elimination with a 2-1 victory over Nigeria on Tuesday, getting a late goal from Marcos Rojo. Maradona showed both middle fingers to the crowd after the 86th-minute winner.A short time later, videos posted on social media showed Maradona needing help out of the stands and into an adjoining luxury box at the stadium. He appeared to have his eyes closed and a later photo showed a pair of paramedics attending to him.There was no immediate information on his health, but about two hours later he was photographed smiling at an airport. Another photo posted on Twitter appeared to show him sitting on a plane.Messi’s goal — his 65th for Argentina — was surely enough to impress even Maradona.Argentina’s Lionel Messi, front competes for the ball during the group D match between Argentina and Nigeria at the 2018 soccer World Cup in the St. Petersburg Stadium in St. Petersburg, Russia, Tuesday, June 26, 2018. (AP Photo/Dmitri Lovetsky)From a long pass over the defense by Ever Banega, Messi caressed the ball with his left thigh, took another touch with his left foot, and then delivered a smooth right-footed finish into the corner.Messi fell to his knees and pointed his fingers upward in celebration. At the same time, Maradona crossed his arms with his hands on his shoulders and looked to the sky.“I knew that God is with us,” Messi said, “and he wouldn’t let us get eliminated.”Messi, who later hit the post off a free kick, and Banega controlled the game in the first half. Rojo finished it off in the second by cushioning a volley with his right foot into the bottom corner and ensuring Messi’s quest for a first World Cup title continued.Argentina will play France in the last 16 in Kazan on Saturday. If Argentines win and Portugal beats Uruguay on Saturday, Messi would face Cristiano Ronaldo in the quarterfinals.Without that late goal from Rojo, the 31-year-old Messi might have retired from international soccer for a second time — and for good this time.Instead, it was Messi who was at the center of the celebrations. His teammates formed a circle around him while striker Gonzalo Higuain cried nearby. Messi then clenched his fist as he turned toward the Argentina fans.“He’s above everybody else,” Argentina coach Jorge Sampaoli said. “The most important thing for Leo is his human side. He cries. He suffers. He’s happy when Argentina wins. I know him.“Many people say Leo does not enjoy playing for Argentina, but I do not agree. He enjoys and suffers like all the other players and that makes him even bigger.”Argentina’s Lionel Messi reacts after the opening goal of Nigeria during the group D match between Argentina and Nigeria, at the 2018 soccer World Cup in the St. Petersburg Stadium in St. Petersburg, Russia, Tuesday, June 26, 2018. (AP Photo/Petr David Josek)Before Rojo’s goal, Nigeria had been only a few minutes from qualifying for the last 16 for the fourth time.Javier Mascherano gave away a penalty with a pull on Leon Balogun at a 49th-minute corner. Victor Moses converted — and marked the goal with a somersault — to put Nigeria back in control of the race for second place in the group.Argentina was facing finishing a World Cup without a win for the first time since 1934, but instead the team is headed to the knockout stage.“This is Messi,” Nigeria coach Gernot Rohr said with a shrug.GROUP DYNAMICSMinutes away from advancing to the knockout stage, Nigeria ended up third in the group — ahead of Iceland but a point behind Argentina.Argentina has four days to prepare for its last 16 match against France. It is the first game of the knockout stage.KEY TO SUCCESSMessi delivered his best performance of the tournament, with his goal allowing Argentina to take early control of the game.Argentina’s Lionel Messi reacts after the opening goal of Nigeria during the group D match between Argentina and Nigeria, at the 2018 soccer World Cup in the St. Petersburg Stadium in St. Petersburg, Russia, Tuesday, June 26, 2018. (AP Photo/Petr David Josek)Yet the standout player might have been Banega, who was recalled to midfield after being on the bench for the first two games and impressed with his work rate and range of passing.SERIOUS STATSMessi joined Maradona and Gabriel Batistuta as the only Argentina players to have scored in three different World Cups. He has also now scored as a teenager, in his 20s and in his 30s at a World Cup.—By STEVE DOUGLAS , AP Sports WriterTweetPinShare0 Shares
MIAMI — Come Thursday, Dwyane Wade will have no games left.That is the reality, like it or not. After 16 seasons as an NBA player, after three championships, an almost-annual spot in the All-Star Game, a scoring title, three franchises, four children, an Olympic gold medal and 161 teammates, the end is here.On Tuesday, Wade was playing his final regular-season home game when the Miami Heat hosted the Philadelphia 76ers — with Wade in the starting lineup for the first time all season. On Wednesday, it’ll be a game at Brooklyn to end the season. The Heat started Tuesday with a slim playoff chance, which ended when Detroit beat Memphis.“I gave this game everything I had,” Wade said. “And I have appreciated every bit of it.”Established 2003. pic.twitter.com/XQqJRVV4HI— Miami HEAT (@MiamiHEAT) April 10, 2019So Tuesday was the farewell in Miami for Wade. It was the 576th and final time he played at AmericanAirlines Arena, all but one of those coming in a Heat uniform.“It’s been incredible. It’s been amazing,” Wade said. “A lot of people in that arena have watched me grow, have watched me be imperfect, have watched me make a lot of mistakes in life, as well as watched me blossom and watched me do amazing things, great things. I’m thankful for it.”The game didn’t tip off until 7:50 p.m. Tributes started in the morning.Miami Heat guard Dwyane Wade tosses a basketball before a game against the Philadelphia 76ers, Tuesday, April 9, 2019, in Miami. Wade is playing his final home regular season game before retiring at the end of the season.(AP Photo/Lynne Sladky)A Budweiser video showed Wade getting gifts from people — his mother, Jolinda Wade, and others including Andrea Ghersi, the sister of slain teen Joaquin “Guac” Oliver — in a nod to the way he’s exchanged jerseys with fellow players all season. Gatorade aired a video starring John Legend , who sang a tribute to Wade’s No. 3. Heat President Pat Riley wrote a letter to Wade published in the game program, saying Wade will be loved “forever and for always.”Ghersi gave Wade her brother’s jersey in the video, which was taped last week. The jersey — No. 3, of course — came with words scrawled in marker: “Please don’t forget my brother.”There was a pregame series of events inside the arena. Wade addressed the crowd, thanking every teammate — even ones no longer on this season’s roster — by name. Wade’s children were there. Students from Marjory Stoneman Douglas High, where the Feb. 14, 2018, massacre left 17 dead, performed the national anthem. It was fitting that the kids from MSD were there; the tragedy touched Wade deeply and Oliver, one of the victims, was buried in a Wade jersey.The end of the anthem was drowned out by cheers. Wade’s face appeared on the video screens. The fans roared.“Noooooooo,” Wade said. “Y’all are not about to make me cry before this game.”???@DwyaneWade knocks down four 4th quarter threes to get to 30 PTS! #HEATCulture #OneLastDance pic.twitter.com/eJyocErmbA— NBA (@NBA) April 10, 2019His wife Gabrielle Union-Wade, Heat coach Erik Spoelstra, former Heat greats Shaquille O’Neal and LeBron James, Heat teammate Udonis Haslem and Riley narrated a 5-minute pregame video. Hardly anyone was sitting. Even the 76ers stayed on the floor and watched, looking up the whole time. Zaire Wade, his oldest son, introduced his dad in the same way that his father taped his famous “From Robbins, Illinois” commercial nearly 15 years ago.“This city will always be proud to rep your name across our backs,” Riley said.Former President Barack Obama — like Wade, a proud Chicagoan — sent a taped message as well, playing during the first timeout.“I hope that the next phase of your life is just as fulfilling and just as spectacular as this one has been,” Obama said.Wade “L3GACY” shirts were given to fans, some of whom spent thousands of dollars for their seats. They got Wade commemorative lanyards. They bought Wade apparel. Some arena workers asked if they could be excused from wearing the usual game-night garb and don Wade jerseys instead. Fans flew in from as far as Australia and China. NBA Commissioner Adam Silver sent his regards in a video.There also was a game, which seemed ancillary. The first shot? A dunk, by Wade. The decision for him to start was made by him and Spoelstra about six hours before gametime. The reason? They wanted that moment, one more time.“I don’t want this to end,” said Spoelstra, who arrived for work Tuesday wearing a shirt with a photo of the scene that followed Wade’s game-winning shot against Golden State emblazoned across his chest. “I’m literally having more fun this year and last year than in any of the other years with Dwyane.”They are the same in so many ways, Wade and Spoelstra. Both came to the Heat as unsure young men. Both have three championship rings now. Both are likely for the Basketball Hall of Fame. When Spoelstra was promoted to head coach in April 2008, he was unsure if he’d be able to handle the job — until he met with Wade a few months later and got pumped full of confidence.“That’s what great players do,” Spoelstra said. “You talk about Hall of Fame players, they make the other players around them better. Well, great, Hall of Fame, superstar players also make their coaches better. And that’s what Dwyane did.”Wade is beloved in Miami, of course, for obvious reasons. Beloved in Chicago, too, his hometown. Beloved in Milwaukee, where he took Marquette to a Final Four in 2003.And this farewell tour — the “One Last Dance” — is a league-wide victory lap for someone NBA players rave about.“A legend,” Toronto’s Kyle Lowry said.“Still amazing,” Dallas’ Luka Doncic said.“My idol,” Washington’s Bradley Beal said.“A leader,” Detroit’s Wayne Ellington said.“True winner,” Phoenix’s Devin Booker said.Wade isn’t 2008 Wade, or Big 3-era Wade, or NBA Finals MVP Wade anymore. But he’s still superb, and with a flair for the dramatic — such as the buzzer-beater to top Golden State a few weeks ago. He’s been the best Heat player all season. It’s hard to imagine how Miami will replace him, because he is going to be clearly missed.But that’s also part of the reason why this season is his last. Wade didn’t want to go out as a shell of his former self. He wanted to leave the stage with the fans clamoring for more, and that is precisely what has occurred.“That’s the sweet part of it, seeing him be able to go off on his own terms, saying when he’s done,” James said. “Nobody forced him out or did anything of that nature. He’s able just to hang it up when he was ready to hang it up and be at peace with it all.”By: Tim Reynolds, AP Basketball WriterTweetPinShare0 Shares
What’s the link between war and religion? Does living through the traumas of conflict make people more religious – or turn them against religion?Those age-old questions are probed in two studies.”War Increases Religiosity” appears in Nature: Human Behavior. A team led by Joseph Henrich, chairman of the Department of Human Evolutionary Biology of Harvard University, analyzed interview responses from 1,709 individuals in 71 villages in three countries that had suffered prolonged, brutal internal conflicts that did not revolve around religious or ethnic differences: Sierra Leone’s civil war, 1991-2002; the Lord’s Resistance Army insurgency in Uganda, 1986-2006; and Tajikistan’s civil war and continuing political violence.The data showed that people who had been more intensely affected by the violence of war were more likely to join or participate in religious groups and practice religious rituals. The data, collected in 2010 and 2011, came from previously published work by other researchers.The more profound the impact of war on an individual — such as the death, injury or abduction of a household member — the greater the likelihood grew of that person turning to religion. By contrast, those who had been less affected by the impact of war were also less likely to join a a religious group. The statistical breakdown showed that for those in Sierra Leone, greater exposure to war made it 12% more likely individuals would turn to religion; 14% more for those in Uganda; and 41% more for Tajikstan.Even as years passed, Henrich’s latest study found that religious practice continued to play a significant role in the lives of many of those surveyed. “These effects on religiosity persist even 5, 8 and 13 years post-conflict,” according to the study. The effects held true whether those surveyed were Muslim or Christian.So what does that mean in terms of day-to-day behavior? In Henrich’s previous work, he had found that religion led people to be more “prosocial” — that is, more supportive, cooperative and generous — but in a particular way. “When people hear the word cooperation, they interpret that positively,” he said. But his study showed a “more narrow” type of cooperation that only included people in one’s own group or village while excluding outsiders. As Henrich put it, “When I’m hit by a shock, what should I do? Who should I turn to? The groups you’re already in become tighter, and you’re less interested in reaching out to those who are not” in your in-group.The positive side is that such cooperation could lead to nation building. But the danger, Henrich says, is that these ingredients can alternatively lead to what he calls a “negative feedback loop.” In that scenario, these already tightly knit religious groups could, in the event of an attack or if they fear one is imminent, band together to fight off other groups and defend their own religious beliefs.And that’s the mixed message from the study’s findings. Even though the groups studied by Henrich and his colleagues had not initially experienced a war with a religious element baked in, they could have a religious awakening in the aftermath that could foster “parochial cooperation” – but could also “catalyze ongoing cycles of violent conflict.”Henrich echoes the conclusions of an earlier research study, published in 2016, by psychology professors Hongfei Du of Guangzhou University and Peilian Chi of the University of Macau. They also found that the greater exposure to war, the more likely people are to become more religious, belong to religious groups and participate in religious rituals. That was their takeaway after analyzing responses from 82,772 individuals in 57 countries contained in the 2010 World Values Survey.In a post-war environment, religion can serve as a psychological buffer against worry about future conflicts, they write — and can also help people achieve a strong sense of belonging to a group.And yet, Du wrote in his email to NPR, some research has shown that a different factor could tip the cycle toward peacemaking instead: whether the religious leaders hold and emphasize compassionate values rather than promote violent solutions to conflicts. It’s an idea that was crystallized in a quote from Gandhi: “The need of the moment is not one religion, but mutual respect and tolerance of the devotees of the different religions.”Diane Cole writes for many publications, including The Wall Street Journal and The Jewish Week, and is book columnist for The Psychotherapy Networker. She is the author of the memoir After Great Pain: A New Life Emerges. Her website is dianejcole.com. Copyright 2019 NPR. To see more, visit https://www.npr.org.
ScheerMenomonee Falls-based Power Products LLC has acquired O’Fallon, Missouri-based King Innovation from owner Herb King for an undisclosed price. The transaction closed May 22.ScheerPower Products manufactures and supplies electrical products for construction and maintenance, recreational marine and specialty vehicles, industrial power and transportation. It has about 500 employees worldwide.King Innovation, founded in 1988, is a global manufacturer of construction grade products for irrigation, electrical, gas utility and landscape lighting applications. It will be integrated with Power Products’ electrical construction and maintenance division, and will continue to conduct manufacturing, R&D and customer support from O’Fallon, led by president Frank Vlasaty. King’s 60 employees and management will join Power Products, but chief executive officer Herb King will exit the firm after his sale of 100 percent of the business, said David Wiesemann, vice president of product development and marketing at Power Products. The King Innovation branding will be retained.With the acquisition, Power Products expands its electrical product offerings and gives it access to new channels of distribution. For example, King has a strong presence in the irrigation and landscape lighting channels, where Power Products would have cross-selling opportunities, Wiesemann said. “The acquisition of King provides us with a broad offering of innovative and proprietary products and supports our strategic initiative to grow rapidly in the electrical channel and expand into adjacent channels,” said David Scheer, chief executive officer of Power Products.“King’s full line of DryConn waterproof and dry location connectors and other products for the contractor and DIY markets will benefit greatly from Power Products’ broad channel access,” King said. “By combining resources of both companies to accelerate innovative new product development, I am very excited about future growth opportunities for King.” Get our email updatesBizTimes DailyManufacturing WeeklyNonprofit WeeklyReal Estate WeeklySaturday Top 10Wisconsin Morning Headlines Subscribe