Category: Co-location

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Co-location

Driver rescued from heavy snow east of Prineville by Crook Co … – Central Oregon Daily

Crook County Search and Rescue helped rescue a Redmond-area man Tuesday whose vehicle was trapped in heavy snow. They say its a reminder to know the conditions and to be prepared.

Here is the release from the Crook County Sheriffs Office.

On January 17th, 2023, Crook County Search and Rescue (SAR) responded to a 911 call of a stranded motorist in the area of Big Summit Prairie.

Due to limited cell service, the stranded motorist was able to text 911 with a generalized location.

Utilizing GPS data, SAR members determined a possible location as Ochocos National Forest in the area of United Sates Forest Service Road (USFR) 42 and USFR Spur Road 4215 a rural area Northeast of Prineville.

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Due to the known snowpack in the area ten total SAR personnel responded to the call.

Utilizing specialized vehicles to include snowmobiles and a specialized tracked side by side.

The male subject was located with his vehicle uninjured. It was determined the male subject had become stuck in the heavy snow accumulation.

The male subject was provided transport back to the Prineville area and then was transported back to his residence in the Redmond area.

Crook County SAR would like to remind everyone that whenever you are traveling, especially in the mountains, to let someone know where you are going, when you will be back, and stick to your plan. Please take adequate food, water and warm clothing in case you get stuck, regardless of the road conditions.

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Driver rescued from heavy snow east of Prineville by Crook Co ... - Central Oregon Daily

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Construction set to begin on Stanford Graduate School of … – Stanford University News

Stanfords progress toward the ambitious goal of transforming learning at the university and beyond will gain momentum this winter as construction begins on the new home for Stanford Graduate School of Education (GSE) and the Stanford Accelerator for Learning, a central initiative of the Stanford Vision. Located near Stanfords Main Quad, the renovated GSE will bring the schools faculty, students, and staff together in one location for the first time.

Go to the web site to view the video.

Video by Stanford GSE

The new home for the Stanford Graduate School of Education will gather faculty, students, and staff into a central location. The interdisciplinary hub will serve as a prototype for learning spaces for the university and across the globe.

Philanthropic support for the new GSE facilities includes lead gifts from longtime donors Angela Nomellini, 75, and husband Ken Olivier, 74, and Tricia and Jeff Raikes, 80, as well as other generous donors.

The science of learning is an area of rapid discovery, with promising opportunities to achieve equitable, accessible, and effective learning for all, said Stanford President Marc Tessier-Lavigne. Contemporary, centralized facilities will be vital to enabling the GSE to accelerate the creation and dissemination of solutions for urgent challenges facing learners in every community. I am deeply grateful for the extraordinary generosity of all the donors who have stepped forward to help realize this vision.

The GSE will emerge from the complete renovation of the historic Education Building at 485 Lasuen Mall and the construction of a new building at 505 Lasuen Mall that will complement the current Education Building. Completing the school is a third, historic building: the Barnum Center for Family and Community Partnerships, which over time has housed the universitys candy store, career center, and bookstore. This building will remain and retain the Barnum family name.

A courtyard connecting the new Stanford Graduate School of Education will include an outdoor classroom and the Mary Bell Floyd Memorial Garden, designed to be in bloom all year. (Image credit: Courtesy William Rawn Associates + CAW Architects)

Together, the buildings will feature more than 150,000 square feet of universally designed teaching, convening, conference, and community spaces, providing ample opportunities to experiment and leverage the latest technologies and approaches to advance learning. The three buildings will be connected by a 13,500-square-foot courtyard that is expected to become a signature space on campus with unique features, including the Mary Bell Floyd Memorial Garden, an outdoor classroom and garden designed to be in bloom all year long. Construction is expected to take about two and a half years to complete.

This is an exciting milestone in our journey to create a space worthy of the work we do preparing teachers and education leaders, conducting research, and partnering with schools and other education-focused organizations, said Dan Schwartz, dean of Stanford Graduate School of Education and the Nomellini & Olivier Professor in Educational Technology. This unprecedented goal could not have been reached without these early and generous commitments. Together, we are creating something very special for our community and learners everywhere.

A well-educated citizenry is vital for a successful democracy; therefore, everyone must have access to a high-quality education, said Angela Nomellini, who is a member and former chair of the GSE Advisory Council. We believe that the Graduate School of Education is well positioned, as part of a purposeful university, to make great strides in ensuring that everyone, regardless of background and challenges, can receive a quality education. Our investment in the new GSE buildings reflects our faith in Stanfords ability to transform learning and our belief in the importance of its mission.

Tricia Raikes, a member of the GSE Advisory Council and the Undergraduate Cabinet, said the complexity of our times requires fresh, interdisciplinary approaches to learning.

It will be critical for us to use an inclusive and equity-centered lens as we prepare leaders to solve our biggest challenges. Stanford has hubs for technology, medicine, business, and the environment, but the power of learning transcends all these fields, Raikes said. This new learning hub will house and cultivate expertise crucial to all disciplines. Because education and learning have never been more important, establishing this new home makes a bold statement that transforming learning is key to Stanford achieving its core priorities. We are thrilled to be a part of the universitys vision for the future of learning.

The GSE is the base for the Stanford Accelerator for Learning, which supports cross-disciplinary research and design aimed at creating equitable learning solutions that help all learners thrive. Led by Schwartz, who also serves as the Halper Family Stanford Accelerator for Learning Faculty Director, the accelerator plays an important role in expanding Stanfords impact by connecting communities, organizations, and institutions across the globe to knowledge and solutions around education and learning generated through the university and its partners.

The universitys investments in the Stanford Accelerator for Learning and the GSE are driven by the understanding that high-quality educational experiences are transformational and the need for new ideas is urgent.

Why are education and learning so important? said Schwartz. They are correlated with every single positive outcome lifespan, health, income, civic engagement, democracy, and happiness.

While situated in the GSE, the accelerator harnesses the strengths of each Stanford school to improve outcomes for every kind of learner at any stage of learning, including early childhood, neurodiverse, historically marginalized, workforce, and online learners.

Fueled by new advances and discoveries in brain and learning sciences, data, and technology, the Stanford Accelerator for Learning distinguishes itself in three ways: It focuses on the real challenges that learners face; it merges the science of learning with the design of learning experiences to create solutions that effectively address those challenges; and it includes dissemination and partnerships in the research strategy to ensure solutions get into the hands of practitioners and learners outside of Stanford.

For example, the new Stanford Center on Early Childhood an integral component of the accelerator will bring together researchers, pediatricians, students, educators, and others working on issues facing our youngest learners.

The renovated facilities will usher in a new era for the school, finally co-locating its faculty, students, and staff. In addition to building community, the space will provide a hub for interdisciplinary collaboration, facilitate contemporary teaching and research, and offer a model for learning spaces at the university and across the globe.

To maximize its impact, the GSEs work must reflect the challenges and systems that learners and their families navigate. For instance, when it comes to learning differences and the future of special education or early childhood learning and development, partnerships between the GSE and other Stanford schools like the School of Medicine are critical in meeting learners where they are.

A common thread in medicine and education is that we work to improve the human condition, said Lloyd Minor, the Carl and Elizabeth Naumann Professor and Dean of the School of Medicine. We are natural collaborators. The accelerator and the new GSE will facilitate meaningful partnerships and really enhance our ability to co-create solutions.

Angela Nomellini and Ken Olivier have a long history of supporting the GSE as well as many other Stanford students, faculty, and programs across campus. In addition to her service on the GSE Advisory Council, Nomellini previously served on the Stanford Athletic Board, the GSE New Building Task Force, the Stanford Challenge Leadership Council, and the advisory board of the Stanford Initiative on Improving K12 Education. She was awarded the Stanford Medal in 2016 for her decades of distinguished volunteer service to the university. Olivier, who is past chair and CEO of San Francisco asset management firm Dodge & Cox, currently serves on the Stanford Board of Trustees and the advisory boards of the Freeman Spogli Institute for International Studies (FSI) and the Stanford Institute for Economic Policy Research (SIEPR); previously, he served as a member of the Stanford Management Companys board of directors. Their philanthropy has established professorships in international studies and educational technology, and an athletics scholarship, and provided support for FSI, SIEPR, Stanford Athletics, the School of Medicine, the Hoover Institution, and the Knight-Hennessy Scholars Program.

Tricia and Jeff Raikes are also longtime Stanford supporters and active university citizens. In addition to serving on the GSE Advisory Council, Tricia Raikes is a member of the Undergraduate Cabinet and previously served as a member of the Stanford Challenge Leadership Council. Outside of Stanford, she is a member of the Seattle Advisors Group and previously led Creative Services at Microsoft. Jeff Raikes, former CEO of the Bill & Melinda Gates Foundation, has served as a member and chair of the Stanford Board of Trustees. He is also a former member of the Hoover Institution Board of Overseers, the Stanford Challenge Leadership Council, and the Presidential Search Committee. The couple co-founded the Raikes Foundation, which focuses on empowering youth and creating a just and inclusive society. Together with their foundation, the Raikeses philanthropy has supported the Knight-Hennessy Scholars Program, established an undergraduate scholarship, invested in Stanford Athletics, and supported research into successful college transitions and equitable learning environments.

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Construction set to begin on Stanford Graduate School of ... - Stanford University News

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America could learn a thing or two from Germany if it wants to figure out how to solve its manufacturing labor shortage – Fortune

Supply chaindisruptionsduring COVID-19 brought to light how interdependent nations are when it comes to manufacturing. The inability of the U.S. to produce such needed goods as test kits and personal protective equipment during the pandemic revealed ourvulnerabilities as a nation.Chinas rise as a global production superpowerhas further underscored the weaknesses of American manufacturing.

In addition to fixing supply chain disruptions, bringing manufacturing back to the U.S. will benefit national security.Advanced computer chips, for example, are disproportionately made by a single firm, theTaiwan Semiconductor Manufacturing Co. These microchips are critical to smartphones, medical devices and self-driving cars, as well as military technology. TSMC, from aU.S. national security perspective, is located too close to China. Taiwans proximity to China makes it vulnerable because the Chinese governmentthreatens to use forceto unify Taiwan with the mainland.

My researchand thatof othersexamines how the lack of manufacturing competitiveness in the U.S. leaves the U.S. vulnerable to shortages of critical goods during times of geopolitical disruption and global competition. The strategies the U.S. employs in bringing back manufacturing, along with innovative practices, will be key to ensure national security.

President Joe Biden has signed two bills that propose to rebuild American manufacturing. TheCHIPS and Science Act of 2022will provideUS$52.7 billionfor American semiconductor research, development, manufacturing and workforce development.

TheInflation Reduction Act of 2022will invest$369 billionto promote a clean energy economy, in part by offering generous incentives for U.S.-made electric cars.

Training workers for new advanced manufacturing is another key factor in strengthening a sector that has become increasingly reliant on technology. In fact, while the number of jobs in American manufacturing fell by 25% after 2000, manufacturingoutput did not decline. Still, American manufacturing isfacing a massive shortage of labor, especially among those workers withskillsneeded to power a new generation of manufacturing.

This need to train a new group of skilled workers explains why federal funds in theCHIPS Actare set aside for workforce development. Complementing federal legislation are programs such asAmericas Cutting Edge, a national initiative that provides free online and in-person training designed to meet the growing need in the U.S. machining and machine tool industry for skilled operators, engineers and designers.

It is impractical to bring all manufacturing back to the U.S. Offshoring is often less expensive. But research shows that certain types of in-country manufacturing can not only help secure national security but also spark innovation.

When research and development are conducted close to where the goods are physically made, this proximitycan increase the likelihoodof collaboration between these two activities. Collaboration can lead togreater efficiencies.

Product development can benefit as well.New researchdemonstrates that U.S. firms that located their manufacturing and R&D physically close to each other generated morepatentsthan firms that did not.

Even so, the contribution of U.S. manufacturing firms to innovationdeclined greatlybetween 1977 and 2016. Thats because the benefits of locating manufacturing and R&D close to each other depends on the nature of the manufacturing itself,researchers have found.

For instance, the design of new drugs often requires manufacturing facilities to be located nearby. In that respect,co-locating manufacturing and research and developmentmakes sense. This can be true for semiconductors as well. World-class chip manufacturers in Taiwan, such as TSMC, are located alongside agrowing chip design industry, which permits designers to prototype and test new ideas quickly.

The U.S. and other countries are betting on the same potential benefits from co-location. For instance, to minimize the dependence on TSMC and, more generally, on foreign sources for chips, the European Union is spending43 billion euros, while Japan is encouraging chip manufacturing at home with a$6.8 billioninvestment.

In a2011 op-ed, I argued that while federal legislation to promote U.S. manufacturing could succeed in bringing more manufacturing back to the U.S., there was no guarantee that large numbers of jobs would be created a key point made by those seeking to promote manufacturing.

Governments are generally poor at pickingwinning technologies and industries.Governmental mistakesin picking supposedly winning industries or sectors have, generally, led to a great deal ofwasteof taxpayer dollars.

In fact, market forces and informed company decisions should, I believe, play alarger role picking winnersthan federal investment. Where that investment comes from, what it supports and how much money is needed are critical questions.

If firms choose to relocate their companies to benefit from the synergy of R&D, then they must be able to attract the best human resource talent available. This is where U.S. investment can help build amore skilled workforce.

As pointed out by the economistGary Pisano, many policymakers in the U.S. have long believed that manufacturing is an attractive sector for people with less education and training. Therefore, as a nation, we have not devotedmany resourcesto train people with specialized skills in manufacturing.

This approach stands in stark contrast to theapproach followed in Germany. There, practical work is valued by employers and employees and hence apprenticeship programs areroutinely usedto train workers who are well qualified to work in the manufacturing sector. While the U.S. approach is changing with recently announced investment by the White House through the CHIPS and the Inflation Reduction acts, more is needed.

It is my belief that if the U.S. is to remain an economic powerhouse, then corporations should not separate their workforce, sending cost-saving manufacturing offshore while retaining the innovators. Corporations likeApplehave sent nearly all of their production offshore, retaining only the most skilled parts of the supply chain involving activities like R&D.

Instead, the U.S. needs to financially support firms wishing to bring manufacturing back by making it easier for such firms to find qualified manufacturing workers at home and close to innovators when practical. This effort will bolster the U.S.s ability to be self-sufficient, innovative and secure in times of geopolitical conflicts.

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America could learn a thing or two from Germany if it wants to figure out how to solve its manufacturing labor shortage - Fortune

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Foxtrot food delivery service and store to open 4 locations in Austin – Axios

A mural on the wall of the new Foxtrot location by Annie and South First streets. Photo: Asher Price/Axios

Workers are putting finishing touches on the South First Street location of Foxtrot, a food pick-up and delivery service.

The big picture: The Chicago chain, which sells ice cream, wine, sandwiches and breakfast tacos announced last year that it's opening at least three spots in Austin.

Of note: Company co-founder Taylor Bloom studied computer science at the University of Texas.

The bottom line: In keeping with Austin's trendiness, the proliferation of hipster convenience stores from Quickie Pickie to Tiny Grocer to Royal Blue Groceries point to the appeal of locally sourced, curated products, and the willingness to spend money for them.

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Two months after tragedy, Club Q owner says club will re-open this year – KOAA News 5

COLORADO SPRINGS Today marks two months since the shooting at Club Q, which took the lives of five victims.

Today, the founder and co-owner of Club Q told News5, that within weeks of the tragedy, they knew the club would re-open one day at the same location. The only surviving bartender from that night also said its community will be back stronger than before.

Michael Anderson, 25 years old, was at Club Q on the night of the shooting. Now hes turning his experience into helping the club rebuild.

I want to take this experience that wasn't positive in any way, and turn it into something that is positive and important, said Anderson.

Anderson is now on the administrative team at Club Q, which formed last month to help the club rebuild. The team includes survivors, victims, employees and the co-owner and founder, Matthew Haynes.

It became very apparent about two weeks after the incident that we were getting so much mail, so many calls, so many people personally coming up, saying, please, please, please make sure that the Club Q comes back, said Haynes.

Haynes said itll be a new space, with new layouts and new designs. They'll also strengthen security measures.

We do have security concerns, none of us can ever go through, or want to go through this again, said Haynes. So there are some certain design elements that that are being brought in for additional security for the club for years to come.

There will also be a memorial to remember and honor the five victims who lost their lives. Anderson added he doesnt want the victims names and legacies to be forgotten.

I think what really has pushed me to this direction of action and advocacy and working on these big projects is the fact that I know it's in their honor, and it's in their legacy, that these these projects will be successful, said Anderson.

The building remains quiet, with a memorial of messages, cards, flowers and photos of the victims still on display. Its a reminder of what happened, but for Anderson, an opportunity to heal and reflect whenever he visits.

It was really healing for me to go back into somewhere that the last time I went, I was running out for my the safety of my own life, said Anderson.

Club Q is not letting five minutes of violence overshadow the 21 years of being a safe space for the community. But now, moving forward, the team is looking forward to rewriting the next chapter.

We have been knocked down, but we are resilient and we are strong, said Anderson. What's really important is for the community to have our space back, and our our club, and our home back.

Its a very important place for the last 20 years, and more importantly than that, we feel so strongly that hate cannot win, it just cannot win, said Haynes.

Haynes said he hopes Club Q will reopen by the end of the year.

For more information or updates about Club Q and its recovery, click here.____

Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.

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Two months after tragedy, Club Q owner says club will re-open this year - KOAA News 5

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Q&A: Emmy Fink, co-host of ‘John McGivern’s Main Streets’ – PBS Wisconsin

January 18, 2023 Alyssa Beno

PBS Wisconsin celebrates the return to public television of two beloved Wisconsin television hosts John McGivern and Emmy Fink with this months premiere of John McGiverns Main Streets.

In the series, actor, comedian and television host John McGivern travels the Upper Midwest to celebrate the people who live there and the unique attractions, history and businesses of each community. New this season is the addition of co-hostEmmy Fink, former host ofDiscover Wisconsin and a contributor to Outdoor Wisconsin.

Ahead of the season premiere, PBS Wisconsin spoke with Fink about joining as co-host for the series second season, her favorite memories and what its like to work with John McGivern.

John McGiverns Main Streetspremieres 7 p.m. Thursday, Jan. 19 on PBS Wisconsin and on the free PBS Video App.

John McGivern and Emmy Fink, with special guest Clarence Fink.

PBS Wisconsin: How did you get involved with the new season?

Emmy Fink:Lois (Maurer, producer) had called me out of the blue she explained to me what they had been up to since stopping Around the Corner with John McGivern and since starting this new endeavor. I had seen a couple of the shows. This was January or February, a year ago. She asked, What do you have going on this summer? Do you some availability because this is going to be kind of a big deal. At the time I was two months pregnant with our third baby, and Im like, Oh, yeah. Theres this one thing that is going to have to be figured out. She was like, You know, if youre game, well work with you and well just do what we can. I was like, Hey, if you guys are going to be flexible with me, well make this work. Whatever we need to do. It all started from there. I went in for the first couple meetings and like you kind of feel with John, even as a viewer, everybody is like, I would be friends with John McGivern. Its how it feels sitting in a conference room across the table from him. In the first few minutes, I was like, I love this guy. I loved this guy watching him on TV, but now I really love this guy.

I had never met John, but I loved their show and knew what they did, and I felt like I knew all about them just from watching them. It was really a call out of nowhere, of, we know similar people and we know of you. Is this something that youd be interested in? I had spent four years with Discover Wisconsin, so they knew that I had been involved in Wisconsin tourism, much like Around the Corner.

PBS Wisconsin: Did you have a specific role to play as the new co-host?

Fink:One thing that I didnt realize from watching these shows was how much memorization John had to do. Hes shooting these episodes back to back. He goes somewhere, hes there for three or four days, then hell have a few days off, then hes back on the road again. So, you only have a two- or three-day window to get really confident with all the lines for your next show. He had said that he definitely felt that from season one, and that that was really the whole hope behind adding someone is that somebody could take some of this memorization and content, especially historical facts, which is something that I really talk about in season two.

A lot of what John does, hes so good at taking an idea and having the basis, I need to say A, B and C, and putting that into his own words and ad libbing it. Its a true talent, thats one of his strengths. Historical facts are a little bit different. You have to have a lot of this has to be included and it goes in this order, but we still want to make it fun. So by me taking that over, and theres about four history pieces in every episode, so I took those over for him, which kind of allowed him to just be John McGivern and just go and do the fun stuff. Then we tag team the trivia because we do about two or three trivia teases in and out of the breaks. So hell ask the trivia question, and I come in with the trivia answer. Its really fun, and we do a lot of the open and the closes together if were there at the same time.

PBS Wisconsin: How did your experience filming change through the season?

Fink: We shot some of the episodes here at my house, we shot locally around the area, and they just made it work. I still am in every show, and Im just not on location for every show. Im on location at the beginning of the season, and then Im back on location at the end of the season so pre-baby, post-baby and then our son is in a few of the episodes with us because about three weeks after we had him, the crew came and we shot some episodes here at my house. And then he was three weeks old and we shot in Iowa City, and my husband and I and our three kids packed up and thought, well, were going to see how he does in the car for four hours. Being a third-time mom, there were a lot of new things to figure out on the fly that I tell my husband now, I am stronger because of this. I can do almost anything now after going back to work after three weeks and feeling like Im somewhat myself. It was a really good growth opportunity.

PBS Wisconsin: What is the most interesting historical fact you learned from the season?

Fink: I would probably say De Pere. I had done some filming in Green Bay during my time with both Outdoor Wisconsin and Discover Wisconsin, but this time we really focused on De Pere. Theres a lot of history behind St. Norbert College, and its the only school district in the state that has two school districts in one city. We were able to play up the historical side of the rivalry between these two high schools going all the way back to the 1920s.

The producer and I sat down, and we had a pretty long phone conversation with one of the De Pere historians, and when you give somebody an outlet to talk about something that they love, it was so cool. This historian was at least 70 years old, and he was so excited to share these memories that he had of these two teams playing each other. It ended up, they got into such a fight that they lit the bridge going over the Fox River, they lit the bridge on fire! There was a huge rivalry between these two high schools, and they wouldnt allow them to play each other anymore. Decades later it changed, but its just funny. The fans stormed the field, so we actually got to film that right on one of the football fields at one of the De Pere high schools. Its neat, all those stories go so far back. Its still a big rivalry, but to think of starting a bridge on fire because of a high school game. Wow.

PBS Wisconsin: What is your most memorable moment from filming the season?

Fink: Our very first show at Lincoln Square was obviously memorable because it was the first one. We were planning on filming the open to the show in this old German restaurant called Himmels. So I had called the owner to the restaurant, and part of my job was to figure out in each episode where I could bring a prop or two into the show and have it be funny or relatable. Theres huge German roots in the Lincoln Square neighborhood. So I was like, lets do something like, should I show up in a European type outfit? Then I went back to, everybody who goes to a beer garden has had the great, big, huge German pretzel. I was like, lets do something with that. I call and we get this all lined up, theyre going to have a German pretzel for us. So we walk in and John and I look up in this restaurant and this woman had probably 15 to 18 huge German pretzels sitting on the counter that had just been pulled out of her open fire. And Im like, Oh my gosh, hopefully I made it clear to her that we only needed one pretzel. She was like, Oh no, of course. I didnt know if you would do one take and then break off a piece, and then you would need another pretzel that didnt look like you had eaten it. I thought, that was really, really smart. We got done and I was like, Well, hopefully youll be able to serve these or somebody will be able to eat them. And she goes, These arent even on our menu! Theyre not on your menu?! We had called and said, Do you think you could make us a couple German pretzels? just assuming this was on their menu. It was so sweet the lengths people will go when we come into town just to have everything work out so well for us, and the kindness that people show and that was my very first episode. I looked at John and Im like, You really are a celebrity because people just want to make sure this is absolutely perfect for you. It was so much fun. Ill never forget this lady at Himmels.

PBS Wisconsin: What do you think it is that makes you and John work so well together?

Fink: I have admired him for so many years watching him, so I have a slight infatuation with him. I just think hes so funny, and I feel like the best gift a host can show is when you watch them, you think, Oh my gosh, I want to be their friend, or I feel like Im their friend. When I showed up in Lincoln Square and we were going to film together for the first time, I just felt like I was meeting my friend John for a fun stroll around Chicago. Thats the true gift that he brings to me. He really puts me at ease, and I didnt know that he would make me feel that way. Hes so good at this and hes so relaxed, but that really resonated when I was trying to come up with my lines. When we do our opens together and hes got his part and Ive got my part and youre walking and youre trying to get your cadence of your walk down, all these things have to flow and there has to be chemistry, and several people have asked me that. Im like, gosh, its kind of like youre dating. You get home and youre like, I hope he liked me as much as I liked him! Because I loved him and he was great, and this is going to be wonderful.

John McGivern Made in Wisconsin John McGivern's Main Streets Emmy Fink

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Retro Fitness Moves into Texas with Opening of First Clubs in Its … – Club Industry

Retro Fitness Moves into Texas with Opening of First Clubs in Its ...  Club Industry

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Rise of the machines: HFTs tighten grip, make a killing on the Street as F&O volumes explode – Moneycontrol

Stories of seasoned investors and rookie traders making a fortune in the post-COVID bull run are now part of market lore. A lesser known story is the growing dominance of new-age tradingcompanies that have been quietly scooping up small gains, and by doing just that consistently, minute after minute, growing their profit manifold over the past 4-5 years.

These are high frequency trading firms or algo firms in market lingo that use complex algorithms and powerful computers to execute trades at lightning speeds. National Stock Exchange (NSE) data for December shows that trades by these firms accounted for 54 percent of the total trades on the exchange. On the BSE, the figure is 41 percent.

The numbers indicate a significant change in the balance of power on Dalal Street, where computer and mathematics whiz kids in their early 30s with limited understanding of the markets and companies are competing on an equal footing with more established banners. And, the numbers show the new kids on the block are scoring big.

The players

The names Graviton Research Capital, Alphagrep Securities, APT Portfolio, NK Research, Quadeye Securities, Dolat Algotech, Tower Research India, and iRage Broking may not ring a bell for most. They are the Big Daddies of the rarefied world of algorithmic trading, where transactions and investment decisions are driven by a potent combination of mathematics, statistics and cutting-edge technology.

From the annual reports sourced by Moneycontrol, QE Securities (part of Quadeye group), Graviton Research and Tower Research India appear to dominate the field. QE Securities net profit soared from a mere Rs 33 crore to Rs 353 crore between FY19 and FY21. Turnover jumped sixfold from around Rs 16,000 crore to over Rs 96,000 crore. Numbers for FY22 were not available.

At Gurgaon headquartered Graviton, net profit grew over six-fold from Rs 55 crore to Rs 329 crore between FY17 and FY21. A similar spike was seen in revenues, which surged from Rs 202 crore to Rs 1257 crore during that period. Breaking down the net profit based on trading days during the year, Gravitons algorithms cranked out Rs 20 lakh every minute during trading hours of the raging bull market in FY21. The outfit, founded by IIT Delhi graduates Nishil Gupta and Ankit Gupta in 2014, is present in the international markets as well. Numbers for FY22 were not available on the MCA website.

Growth at Tower Research India, the local arm of US-based Tower Research, has been even more spectacular, with consolidated net profit surging from Rs 0.5 crore in FY17 to Rs 334 crore by FY21. Consolidated revenues during this period rose around fourfold from Rs 407 crore to Rs 1781 crore.

Alphagrep, among the few HFT firms have to disclosed its FY22 numbers, saw its net profit explode from less than Rs 3 crore to Rs 207 crore in five years, as revenues rose from under Rs 50 crore to nearly Rs 800 crore. The company founded by Mohit Mutreja and Prashant Mittal in 2009, also has operations in London, Singapore and Hong Kong.

NK Securities Research, founded by Faraz Khan and Sudhanshu Narang, reported an almost threefold jump in net profit to Rs 162 crore in FY22 from about Rs 50 crore in FY21. Revenue for FY22 leapt by as much to Rs 839 crore.

Among listed companies, Dolat Algotechs net profit rocketed to Rs 167 crore in FY22 from Rs 1 crore in FY17, although revenue just about tripled.

Algoquant Fintech, which was recently bought out by the promoters of OPG Securities, is the only other listed player in the HFT space. Algoquant, which had been operationally lossmaking before the takeover, has been steadily improving its fortunes since late 2021. It reported a net profit of Rs 2.87 crore for the quarter ended September 2022.

Business model

So what exactly are HFT firms and how do they make so much money?

For starters, while HFT firms are commonly referred to as algo trading firms, there is a subtle difference. Algo trading, as the name suggests, involves the use of algorithms to make trading decisions and execute trades. HFT is algo trading at its core, but involves the use of powerful technology to execute trades at extremely high speeds, flipping positions in milliseconds. You can say it is algo on steroids.

For example, a basic algo for trading in the Nifty index would be to buy the Nifty if the 50-day moving average rises above the 200-day moving average and sell when the 50-DMA drops below the 200-DMA. A more complex algo will have multiple rules built into it.

The HFT version of this Nifty strategy would be to repeatedly buy and sell or sell and buy the Nifty index for very small difference, say 2 points, by predicting which way the index is likely to move. HFT algos try to predict price moves by identifying patterns in historical data, analysing order books and other market data to spot behavioural patterns of traders and other algos, and in some cases, even analysing news articles and social media posts.

Speed is crucial for the success of an HFT strategy, which is why they place their servers in the premises where the stock exchanges servers are housed. This arrangement, known as co-location, allows HFT firms to access stock prices a split second ahead of the rest of the investing public.

However, execution speed is not a determining factor for the success of an algorithmic strategy, as it primarily depends on certain conditions being met, which do not change every second, like order book and liquidity.

Most algo firms use a mix of HFT and non-HFT strategies, experts said.

F&O booster

HFTs mainly operate in the futures and options (F&O) segment because the derivatives market is more liquid, allowing entry and exit at a faster rate with minimal impact on prices. Besides, the F&O market offers higher leverage than cash markets, meaning traders can take up a larger position with less capital.

The explosive growth in F&O volumes on the NSE after COVID turned out to be manna from heaven for HFTs, which were already becoming a major force in the stock market. The nominal average daily turnover value in the NSEs F&O segment was Rs 14 lakh crore in FY20. That almost doubled the following year as a wave of newbie traders stampeded into the market, enthralled by the precipitous fall and equally dramatic rebound between March and April 2020.

Since then, F&O turnover has risen every year. For FY23 so far, the average daily turnover value is about Rs 130 lakh crore, almost 10 times higher than the pre-COVID level. In comparison, the average daily cash market turnover has just about doubled from pre-COVID levels. Even at its peak in October 2021, the cash market turnover was a shade below three times the pre-COVID levels.

There were many factors driving the F&O frenzy. Since the market was rising pretty much one way for almost 18 months, an overwhelming majority of amateur traders made easy money, first by trading in stocks, then in options contracts.

Smarter option

These people quickly figured out that they could multiply their money faster through options trades since they had to put up less capital upfront by way of margins compared to what they had to fork out for cash market trades, said an expert. They would buy call options on the cheap and make good money on those. And those who sold put options thought they had hit a risk-free stream of income since the market was not falling much.

Sensing an opportunity stemming from this ballooning of interest in F&Os, self-proclaimed F&O experts arrived on the scene, claiming to have made super profits themselves and offering to share the secret sauce for a price. These gurus, or furus (fake gurus) as they mostly turned out to be, became role models for thousands of youngsters who eagerly signed up for exorbitantly priced training workshops, hoping to make millions by trading options.

And then there were software developers who went around hawking algo strategies to wealthy traders with the promise of market-beating returns.

Majority of these so-called algo strategies were nothing but a set of standard rules for executing trades; they would work sometimes, but results were largely patchy, the expert said. And these low-level algos ended up becoming lunch for the far sophisticated algos that the HFTs had unleashed into the system.

Since the HFT algos were primed to identify patterns, they could easily outsmart any other algo that left a trail. There are jokes in HFT circles about certain employees owing their annual bonuses to some of the basic algos deployed by HNIs, the expert said.

The crew

Check out the careers section of any HFT and you will hardly find openings for analysts specialising in a particular sector. The demand is mainly for IIT-trained hardware engineers, software developers and quantitative analysts.

Quants, as quantitative analysts are called, are specialists who apply mathematical and statistical methods to develop financial and risk management models.

Quants and coders (software developers) are the two main pillars of any algo trading firm. The ratio of quants to coders will depend on the strategy of the firm, said a person familiar with the workings of such firms. Once the quant has developed a model by researching data and identifying patterns, the coder needs to create the software for running it. If the firm specialises in HFT, then there will be more coders than quants. If the firm is more into non-HFT algos, it will have more quants in the team than coders.

The models and technology need to be refined constantly to stay ahead of competition, the person said.

Think of it as changing the tyres of a Formula One car in a race, the person said. You are competing with rival algos as smart or even smarter than yours. If you can detect their vulnerabilities, they can spot yours.

Unlike research analysts at traditional broking firms and fund managers at mutual funds or portfolio management services who make headlines for calling multibagger stocks, the stars at HFTs are largely unheard of, given the highly technical nature of their work and the secretive nature of algo trading.

The websites of most HFTs rarely give details of their key employees, other than a passing reference to the founders, if at all. But annual bonuses are said to be handsome, easily topping a couple of crores for the best performers.

Below the radar

And for all their success, the founders of algo trading firms have chosen to stay away from the limelight. You wont find glowing profiles about them in the press, or any mention of their fancy acquisitions on page 3.

A controversy over the NSEs co-location server facility could be one reason these investors like to keep it quiet, people in this field said. The highly publicised case involved some trading members exploiting loopholes in the NSEs co-location rules and profiting by getting access to stock prices ahead of other members.

Former NSE MD and CEOs Ravi Narain and Chitra Ramkrishna are in jail on charges related to the case. Also behind bars is Sanjay Gupta, the promoter of OPG Securities, alleged to be one of the major beneficiaries of the violations.

When you say algo trading, the first thing that comes to mind is the NSE co-location controversy, said a source. The general perception is that algo firms have an unfair advantage over the rest of the market. But then most people dont understand what algo firms actually do.

Founders dont need the publicity because the majority of them, if not all, are neither looking to add clients or attract capital, said another person. Secondly, unlike value investors or technical analysts, you cant talk about your trading strategies. Also, you cannot deploy a whole lot of capital in algo trading even if you had it it is not like buying huge blocks of stocks and then waiting for the price to appreciate.

HFTs globally have been at the centre of fierce debates, with critics drawing attention to the systemic risks they pose. There have been instances of flash crashes globally as well as in India because of algos going haywire.

Besides, algo trading firms are accused of increasing volatility and gaining at the expense of ordinary investors and even long-term institutional investors such as mutual funds, insurance and pension funds, which are not into high-frequency trading.

On their part, algo trading firms argue that they improve market efficiency by providing liquidity which would otherwise not be there. One common HFT strategy is to provide two-way quotes (placing simultaneous buy and sell orders, and pocketing the difference), thereby acting as a market maker.

They are a necessary evil, said a high-volume trader. Back in the days of open outcry, it was the jobber who would provide liquidity by temporarily taking on the risk. Today, algo trading firms play that role.

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Rise of the machines: HFTs tighten grip, make a killing on the Street as F&O volumes explode - Moneycontrol

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Bard & Baker expanding Troy cafe, closing Albany location – Times Union

TROY The 4-year-old Bard & Baker Board Game Cafe, located downtown on the ground floor of The News apartment building, will expand in the coming months by taking over an adjoining commercial space and will close a satellite location that opened in Albany's Pine Hill neighborhood in July 2021.

The expansion, into what until the end of December was the Pause Gallery, will add seating for approximately 30 more people and create a dedicated room for hosting events, which Bard & Baker's current configuration lacks. The announcement was made Tuesdaymorning by co-owners Charlotte Guyton and Bryan Connor.

"Our original vision for Bard & Baker included a private, bookable event space, so we are very grateful for the opportunity to see our fully realized dream and vision come to life in this expanded space," Guyton said in a statement.

The debut of the expanded Bard & Baker is projected for the spring, the owners said. A closing date for the Albany cafe, located next to the Madison Theatre, has not been finalized, they said. All Albany staffers will be offered positions in Troy, they said, adding that announcements will be made on social media in the coming months about the sale of equipment and board games from the Albany location.

It is being closed to allow owners and staff to concentrate on operating the original cafe in Troy, Guyton said.

"These are always difficult decisions, and there was a lot of discussion with our management team and one another around it," she said. "However, we are confident it will allow us to better focus on the growth of operations at Bard & Baker Troy moving forward."

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Bard & Baker expanding Troy cafe, closing Albany location - Times Union

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Zellers is making a comeback in Canada this spring. Here are the locations – Global News

Zellers, anostalgic discount brand, has unveiled the first 25 locations across Canada for its retail comeback.

Hudsons Bay Co. first announced plans to revive the Zellers brand in August of last year. The brand will return as an e-commerce site and as an in-store experience in select Hudsons Bay stores across the country.

The Zellers department store was founded in 1931 and acquired by HBC in 1978. It operated as the discount division of its flagship Hudsons Bay department stores, with the slogan Where the lowest price is the law.

In 2011, HBC announced plans to sell the majority of its remaining Zellers leases to Target Corp., closing most stores by 2013.

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0:21Zellers makes a comeback, but will it last?

Zellers return comes as high inflation and higher interest rates stretch Canadian household budgets.

The timeline on the Zellers comeback is still fuzzy, with a press release from HBC signalling the experiences would start to roll out in the spring. Global News reached out to HBC on Wednesday but spokespeople said they could not provide a more specific timeline.

Zealous Zellers shoppers can sign up on the companys website for updates on the e-commerce rollout, which will coincide with the in-store retail launch.

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5:32Throwback culture and nostalgia making a major splash

Here are the first 25 locations where you can find a Zellers in the months to come:

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British Columbia

Alberta

1:45Zellers concept store to open inside Hudsons Bay at Kingsway Mall in Edmonton

Saskatchewan

Manitoba

Ontario

Quebec

Nova Scotia

with files from The Canadian Press

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2:13Out of pocket: Inflation forces B.C. mother to give up retirement saving

© 2023 Global News, a division of Corus Entertainment Inc.

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Zellers is making a comeback in Canada this spring. Here are the locations - Global News

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