June 10, 2020 9 min read

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Curiosity drives innovation. It is an impulse to pursue a thought, find a solution, seek new possibilities or keep on a path to see whats around the next bend. Driven largely by Elon Musks relentless pursuit of curiosity, SpaceX just became the first private company to send people in a spacecraft to the International Space Station and is on a path to making space tourism a reality in our lifetimes.

According to Mario Livio, an astrophysicist, and author of the book Why?there are two types of curiosity. During a 2017 podcast appearance forKnowledge@Wharton, Livio stated,There is perceptual curiosity. Thats the curiosity we feel when something surprises us or when something doesnt agree with what we know or think we know. That is felt as an unpleasant state....On the other hand, there is epistemic curiosity, which is a pleasurable state associated with an anticipation of reward. Thats our level of knowledge. Thats what drives all scientific research. It drives many artworks. It drives education and things like that.

No less than Albert Einstein once similarly, succinctly remarked,"I have no special talents. I am only passionately curious."

Curiosity has been a driving force for Ben Lamm, CEO and founder ofHypergiant, throughout his career, leading to massive success across multiple diverse disciplines.

As a child, Lamm traveled frequently to Africa with his family, and at an early age, he saw the stark contrast between life on that continent versus suburban Texas, where he grew up. He saw that the world operated in a multitude of ways and that within those differences, opportunities lay. This led him to question things that most people accepted, even his own thoughts and assumptions.

Self-exploration and questioning are part of perceptual curiosity, something many of us lose as we grow more stable and confident with our life decisions. Yet for Lamm, that self-exploration led to early successes in the form of personal growth.He became a better student, a better friendand a better hustler.

Now, five companies in, Lamm is on to his most ambitious startup yet with Hypergiant, a modern-day Stark Industries servicing the space-company industry with advanced AI, autonomous satellite command and control systems, Intergalactic internet, an Iron Man-inspired space helmet, an AI-powered bioreactor that converts CO2 into algaeand more.

For most people, these innovations sound straight out of a sci-fi movie, but with a tagline like Tomorrowing Today"and a leader like Lamm at the helm, these innovations are natural outcomes that come from a culture that encourages a passionate pursuit of curiosity in all areas of life and work.

Shoshin, also known as beginners mind, is a concept that comes from Zen Buddhism and refers to having a lack of preconceptions about a subject. That openness to new concepts is something children have naturally. Children exude curiosity in everything they do; they are the perfect embodiment of beginners mind because they are not yet corrupted with prejudice, assumptions or a historical framework that dilutes what they are observing.

Practicing beginners mind also means that even when we know enough on a topic to be considered an expert, we are constantly learning new things, and at any point, those learnings could create a tidal shift in what we believe.

Lamm practices Shoshin with all the subjects he pursues, learning by being as deeply curious as a wayward child, asking, Why?The question of why is always a focus, whether that is why a business decision makes sense, why there isnt a regulation in place or why is there a need for a certain tool. Asking those questions is one of Lamms keys to cultivating an attitude of beginning over and over.

Experiencing a vast array of cultures and customs around the world gave Lamm the gift of seeing things differently from the rest and an instinctual ability to spot market opportunities. Lamm believes it is important to look at diverse customs, cultures and ideas in order to ensure you are seeing multiple sides to every situation and spotting opportunities where others have not.

As someone with a natural inclination to question the norm, entrepreneurship for Lamm was not just a path, it was his destiny. As he puts it, I truly believe entrepreneurs are born and not made. I was always destined to be an entrepreneur. Lamm was fired from every job he had in high school and launched his first company with his college professor as a junior in college. Now on his fifth startup following four successful exits with three of those companies being sold to publicly traded companies, its safe to say entrepreneurship is in Lamms blood.

While Lamms career path may look erratic, his commitment to a path of curiosity and fluid thinking means he is constantly shiftinghis observations aboutthe worldand how he works in it. Every time I create my career anew," he explains, "Im doing it as someone who is peering out to the world as a beginner and again asking how I want to see the world. I often say one of my superpowers is admitting what I don't know, which is weird in this world. I am fine with saying I don't know or don't understand something with the goal to be open and continue to learn.

That vulnerability allows Lamm to be open to new insights and to be taught by his peers, employees, experts, friendsand the world on a variety of topics. Lamm practices being a beginner by never being afraid to begin again, and with an openness to being shown other ways. This manifests itself through another tenet of Buddhism that Lamm embodies, which is the lack of a possessive attachment to any of his ideas.

He recalls a line from the movie Heat, which he saw as a kid, in which Robert De Niro waxes poetic about what to do when the pressure gets too hot: You should be able to walk away from anything in less than 30 seconds if you feel the heat coming on.

Lamms not running from the law, and the mafia isnt turning the heat up on him, but his practice of non-attachment by way of not forming ties too deeply with any idea means that he can shift his thinking when presented with overwhelming evidence that contradicts what he believes to be true. The ability to accept ones own fallibility thatcomes with a curious mind also propagates a spirit of courage and fearlessness.

With age and wisdom comes a belief of having figured things out. That sense of security tends to reduce our curiosity about how things work. Curiosity is in part a biological response to fear. Having a willingness to ask about things you dont know or fully understand can be an act of courage. For Lamm, that fear drives him to look deeper for answers, to push into those areas of discomfortand willingly engage in difficult conversations.

To cultivate a curious mindset is to live with a comfortable amount of fear," he offers."I believe curiosity lives somewhere between fear and wonder.

Lamms ability to live in fear and wonder and balance his perceptual and epistemic curiosity is a a powerful tool for an entrepreneur, and he credits it as being the single most important aspect of his career success.

Lamm can dive deep into ancient aliens one day and into cutting-edge nanoscience research the next. Hell spend an entire day learning about NASAs plans for lunar living and the next day all about rewilding theory in Scotland. Knowing a lot about a lot of subjects helps to spike his curiosity further. He can then ask questions like: How can we cultivate within lunar bases a sense of the wild worlds around us? How can we use nanotechnology to challenge the idea of ancient aliens?

His insatiable curiosity means he never stops learning and consuming new ideas. Lamm believes you should pull inspiration from as many sources as you can. His search for knowledge never satisfied, he avidly consumes documentaries, science fiction moviesand non-fiction as well as art, philosophy, music and pop culture. Some of the visionaries Lamm is particularly drawn to include people like Matti Suuronen, who built the Futuro houses, and photographers like David Yarrow, who creates intricate worlds.

Im really drawn toan aesthetic perspective," Lamm confirms.I find Kanye [West]s work to be interesting and astounding in its diversity and drive. And, yet, I also am really drawn to the work of people like Livio. who is examining how and why humanity works.

While there is no doubt that curiosity is a driving force for Lamm, he clearly knows he can not come up with all the ideas needed to build a successful company. For Lamm,cultivating curiosity in the workplace is the most important thing. He relies on a team of people around him who are also smart, curious people capable of bringing new insights to the world. To cultivate that curiosity, Lamm actively encourages people to engage in and pursue outside passions. Hypergiant frequently brings in a lot of speakers, thinkers and activities into the workplace and doubles down on culture. The idea is to create a soup of ideas, stories, beliefsand insights that will naturally spur people to be curious about why and how these ideas impact their work. Creating an open-floor plan for ideas, the company pushes a variety of things into the ether of its culture, with the knowledge that the intersection of those ideas will result in novelty.

Lamm'slifetime of curiosity and openness to receiving inspiration and new ideas from any source, along with theability to be a vulnerable and empathetic leader, has fueld his success in bringing the future to today. Where will your curiosity take you?

Excerpt from:
Cultivating Curiosity Is What Drives Innovation - Entrepreneur

Jimmy Haslam has an exact formula for a productive day.

The billionaire investor is the CEO of the the Pilot Company (which operates Pilot Flying J, North America's biggest truck-stop chain), and he's also the co-owner of the Cleveland Browns football team.

Haslam gave Business Insider an exclusive rundown of how he sets up his day for success.

Like Haslam, many leaders have long touted the success of having a precise schedule. Research also backs this up.

A study co-authored by the University of Chicago shows that having a regimented schedule actually increases productivity. Rameet Chawla, founder of the mobile design and development company Fueled, told Entrepreneur that having a consistent schedule allows him to prioritize his tasks and maximize the amount of work he gets done.

Here's how Haslam spends his days.

5:45 a.m. He begins his day and reviews various petroleum margins that come out around midnight the previous evening.

6 a.m. Haslam reviews morning sales reports, then checks and responds to emails and voice messages.

6:45 or 7 a.m. The CEO takes part it regular morning workouts.

Having a morning workout has proven benefits. A study from the University of North Carolina found that exercise is a great way to boost cortisol, which makes you feel more awake in the morning.

This is a common practice among successful leaders, too. Steve Reinemund, the former chairman and CEO of PepsiCo, runs four miles on the treadmill a little after 5 a.m.

8 a.m. - Haslam begins his workday for the Pilot Company and Cleveland Browns.

The start of Haslam's busy week is reserved for the Cleveland Browns. Haslam has owned the NFL team since 2012.

While Haslam's schedule varies from week to week, he often sets aside two days specifically for the football team. During that time, he schedules meetings and discusses the business side of the Browns. This includes calls with operations, sales, and finance teams.

Haslam begins his workday on these days with various meetings and calls with senior leadership. The meetings are either with finance, operations, or human resources.

By about midday, Haslam catches up on emails and voice messages. Next, he takes time to plan out his future schedule. He sets aside a day or two for visiting Pilot Flying J site and for looking at real estate for future truck stops.

After this, he will schedule calls with the Cleveland Browns' senior leadership. At the end of the day, he finishes going through emails and voice messages.

Haslam and his wife, Dee, have three adult children and six grandchildren.

Usually, Haslam uses the weekends to decompress. This means taking a walk or spending time with his grandkids.

Haslam wants employees to take this advice as well. While working remotely, the company is restricting meetings and calls from 5 to 7 p.m., USA Today reports. Therefore, workers can spend time with their families.

"We talked about it was going to be a marathon, not a sprint," Haslam told USA Today. "We talked about taking care of yourself."

Read more from the original source:
How Jimmy Haslam manages Pilot Flying J and the Cleveland Browns - Business Insider

HONG KONG/NEW YORK (Reuters) - Who needs expensive lunches at glitzy hotels and fancy restaurants to court investors for bond deals or the sale of new shares on the stock exchange?

FILE PHOTO: A man wears mask to prevent a new coronavirus outbreak as he uses his mobile, with skyline in the background of Hong Kong, China, January 29, 2020. REUTERS/Tyrone Siu/File Photo

In a world governed by quarantine and social distancing rules, even lead managers on multi-billion-dollar deals have had to curtail travel and drop the personal touch in favour of video conferences and phone calls to woo potential investors.

Warner Music Group WMG.O is one of more than a dozen companies that launched initial public offerings in the aftermath of the COVID-19 pandemic and saw their shares soar on the first day trading.

The wear from a virtual roadshow is much less than the wear and tear on the old normal roadshow. I was pleasantly surprised, Warner Music Groups chief executive, Stephen Cooper, said in an interview following his companys IPO this week.

Payments technology firm Shift4 Payments FOUR.N, whose IPO this week priced above its target range, spoke with around 300 investors over video calls during the roadshow, CEO Jared Isaacman said.

The bankers have gotten incredibly efficient with the Zoom video calls, Isaacman said.

Some investors were also happy with the switch, because they saved time travelling to meetings with companies and their IPO advisers.

When you meet face-to-face, you have to get everyone together into the lift, some people need to get their Starbucks that one hour turns into one-and-a-half hours, said Khiem Do, head of Greater China investments at Barings in Hong Kong.

All over the world, companies and their advisers have given up on the traditional multi-city investor roadshow - lasting up to two weeks - in favour of virtual sessions with investors that only last a few days.

So far the change has worked. U.S. IPOs excluding those of special purpose acquisition companies have yielded average gains of 35%, according to data firm IPOScoop. The S&P 500 Index has risen only around 6.6% in that period.

In New York City you would normally do six or seven one-on-one meetings plus a group event. Boston is about the same. Now you can do at least nine in a day with no travel time, said Taylor Wright, co-head of U.S. equity capital markets at Barclays Plc (BARC.L).

However, Wright and other bankers interviewed by Reuters questioned whether virtual roadshows will completely replace physical gatherings when the pandemic subsides.

Some bankers said many companies behind the IPOs of the last few weeks had warmed up investors in person before the pandemic, and younger companies may not be able to court investors only virtually.

For example, coffee producer JDE Peets JDEP.AS IPO raised 2.25 billion euros ($2.50 billion) in Amsterdam last week, in Europes biggest flotation of the year with a virtual roadshow that lasted just three days. It only managed to do so because the company and its advisers had already met in person with many potential investors, bankers on the deal said.

JDE Peets did not immediately respond to a request for comment outside business hours.

If roadshows cannot carry on, I feel some investors wont be willing to invest as happily, said Zhenro Propertiess chief financial officer, Kenny Chan, speaking in mid-May as the company raised $200 million via online roadshows in Asias first junk-rated bond for almost two months.

Many bankers and executives said they missed the social interaction, as well as the ability to ask questions quietly after in-person meetings.

Moreover, many of the IPOs that were successful in the last few weeks, including business intelligence platform ZoomInfo Technologies Inc ZI.O and insurance policy comparison website SelectQuote Inc SLQT.N, were of well-established companies. Some IPO advisers cautioned that some startups and young less-known companies will struggle to pique investors interest without wooing them in person.

Gathering in a hotel ballroom and listening to a roadshow presentation is just a different dynamic and vibrancy, said Jocelyn Arel, a partner at law firm Goodwin Procters corporate and technology companies group. I think its harder for startups, as theyre still trying to network remotely through video.

Reporting by Scott Murdoch in Hong Jong and Joshua Franklin in New York; Additional reporting by Noah Sin in Hong Kong, Clara Denina in London, and Rebecca Spalding and Krystal Hu in New York; Editing by Jennifer Hughes, Greg Roumeliotis and Leslie Adler

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Virtual certainty? Bankers ask if success of remote roadshows will last - Reuters

The below is a press release from the office of King County Executive Dow Constantine. The Auburn Examiner has not independently verified its contents and encourages our readers to personally verify any information they find may be overly biased or questionable. The publication of this press release does not indicate an endorsement of its contents.

A plan drafted by King County Executive Dow Constantine, King County Council Chair Claudia Balducci, and King County Board of Health Chair Joe McDermott and approved today by state Department of Health Secretary John Wiesman immediately allows limited and modified openings for a wide range of businesses, recreation, and personal activities in King County.

Businesses are required to follow the state Department of Healths specificguidancebut must adjust their occupancy to the levels identified below. The State defines an establishments capacity as the fire code. The intent is to limit business operations to a level that allows for social distancing. Additionally, businesses in retail, professional services, and real estate must take steps to reduce indoor operations to thirty minutes. This is not meant to be timed to the second no one is expected to have a stopwatch but customers should be informed why it is important to limit close interactions.

Here is an overview of whats happening in key sectors across King County:

Restaurants Outdoor dining activities is allowed at 50 percent of capacity with all tables and chairs maintaining 6 feet of distance, though additional seating will be allowed provided it follows Public Health Seattle & King Countys best practices. Restaurants will also need to go through the normal process within their city or King County if the establishment is located within unincorporated King County to seek approval to expand outdoor seating. Indoor dining services may operate at 25 percent of capacity, provided such tables and chairs are more than 6 feet away from each other.

In-store retail All non-essential retail activities may operate but an establishments occupancy may not be not be higher than 15 percent of capacity. Businesses are directed to provide signage encouraging indoor visits to less than 30 minutes, with face-to-face interactions limited to 30 minutes. Essential retail activities may continue to operate according to the existing state regulations.

Personal services: Cosmetologists, Hairstylists, Barbers, Estheticians, Master Estheticians, Manicurists, Nail Salon Workers, Electrologists, Permanent Makeup Artists, Tattoo Artists, Cosmetology Schools and Esthetics Schools All activities may operate but the number of clients served will be limited to no more than 25 percent of capacity or one person if it is a single bed/chair studio.

Professional services: Accountants, architects, attorneys, engineers, financial advisors, information technologists, insurance agents, tax preparers, and other office-based occupations that are typically serving a client base All activities allowed but an establishments occupancy should not be higher than 25 percent of capacity. Businesses are directed to provide signage encouraging indoor visits to be less than 30 minutes, with face to face interactions limited to 30 minutes.

Construction All construction, including those activities for which social distancing may not be maintained and the start of new construction projects, is authorized to resume.

This important step in our COVID-19 response reflects all the sacrifice and hard work that our community has put into fighting this disease. The success of this guidance depends on business owners and community members embracing public health best practices, and understanding that one size doesnt fit all, said Executive Constantine. By opening our economy carefully and deliberately, we make sure to stay healthy and continue down the path to full recovery.

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This important step in our COVID-19 response reflects all the sacrifice and hard work that our community has put into fighting this disease. The success of this guidance depends on business owners and community members embracing public health best practices, and understanding that one size doesnt fit all. By opening our economy carefully and deliberately, we make sure to stay healthy and continue down the path to full recovery. Dow Constantine, King County Executive

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King County to Allow Limited Openings of Businesses, Recreation, and Personal... - Auburn Examiner

Usually, I love the summer.

As a college professor and department chair, normally Im done teaching by June, and my time is taken up by scholarly and administrative duties: Doing research, advising doctoral students, staffing classes for the fall. As a professional musician, I also typically take advantage of the summer to do things I cant make as much time for when school is in session: Playing at festivals, getting into the recording studio, and writing new material. And, as a father of two school-aged children, the best part of my summer usually involves doing stuff with them: Swimming, traveling, playing video games.

Those of us who study social media professionally noticed a while back that these kinds of uncomfortable spillovers are hard to avoid on apps like Facebook. We even have a name for it: context collapse.

This summer is different. Its not that Im missing out on most of my favorite activities; its just that, thanks to COVID-19, theyre all mashed up together. Its kind of like being on Facebook FB, +1.98%, all day, every day. And I dont mean that in a good way.

Have you ever had the experience of posting something on social media related one aspect of your life, only to have it spill over into another? Has your boss ever liked a risqu photo of you and your friends out at a nightclub? Have your parents ever posted baby pictures of you that you wish had stayed in a dusty photo album on their shelves? Have you ever gotten into a political argument with an old high school acquaintance you have little in common with? Of course you have. Stuff like that happens to everyone.

Those of us who study social media professionally noticed a while back that these kinds of uncomfortable spillovers are hard to avoid on apps like Facebook. We even have a name for it: context collapse.

In real life, we go to different places to do different things, and to be different people. When Im on campus, Im Professor Sinnreich. When Im on a festival stage, Im The Bass Player. And when Im doing a cannonball into a swimming pool, Im just plain Dad. But on Facebook, its hard to be different people, because everyones in the same place. Our different networks get all mixed up together, which means our different identities do, too. So we have to juggle, and come up with ways to be all things to all people, all the time. Its exhausting.

Thats one of many reasons I quit Facebook a few years ago; their willing role in amplifying racial hatred and social discord was another.

Im kind of half-assing everything right now, and thats because of context collapse. I cant focus entirely on my doctoral students challenges with their dissertations when my kids need help logging in to their own classes.

(Facebook says, We do not allow hate speech on Facebook because it creates an environment of intimidation and exclusion, and in some cases, may promote real-world violence. However critics of the social media-site have said its become virtually impossible to police. Last month, Facebook CEO Mark Zuckerberg told Fox News. I just believe strongly that Facebook shouldnt be the arbiter of truth of everything that people say online. Private companies probably shouldnt be, especially these platform companies, shouldnt be in the position of doing that.)

But now Im getting uncomfortable flashbacks to my social-media days, because context collapse has come to my real life.

Like much of the world, Ive spent the past three months largely cooped up in my own home with my family, self-isolating to help stop the spread of COVID-19. This has meant shifting all my professional obligations to remote work. I taught the second half of Spring semester entirely online, and so did my wife, who teaches in an after-school music program. My kids, of course, have been home as well, taking their classes online, often at the same time as my wife and I were teaching. Ive also served on hiring committees and advisory councils, participated in research conferences and mentor sessions, and even helped to launch a new masters program, all via Zoom ZM, -1.30% or Google Hangouts GOOG, +1.85% or Skype MSFT, +2.34%, from the relative safety and security of my own home.

Ive also been busy in my creative life. My wife and I have done a series of concerts, recording 30 quarantunes from our home studio and sharing them via Instagram and YouTube GOOGL, +1.81% (yes, Im aware that Facebook owns Instagram its my wifes account, not mine). Weve played livestreamed sets in several online music festivals. And Ive even collaborated on recordings with friends as far away as Seoul, and as close as down the street. Ive also been working on a novel collaboratively with my sister, a historian and author who lives about three thousand miles away.

I have to accomplish all of these different tasks, be all these different people, at the same time, in the same place. I was no good at it on Facebook, and, as it turns out, Im no good at it in real life, either.

Most importantly, Ive gotten to spend quality time with my kids. Weve gone on hikes in local nature preserves (wearing masks and gloves). Weve done a lot of cooking and baking together. Weve played a lot of Animal Crossing. Technically, Im even on vacation this week. I havent checked email, logged into Twitter TWTR, +3.41%, or read the news, in five whole days probably a record for me.

But to be honest, Im kind of half-assing everything right now, and thats because of context collapse. I cant focus entirely on my doctoral students challenges with their dissertations when my kids need help logging in to their own classes. I cant practice my bass when Im getting pulled into a last-minute emergency Zoom meeting. I cant adequately review a journal article when the garden is desperately in need of weeding. And Ive learned the hard way I cant tell my kids Im taking a week off from work and then sit down at my laptop and hammer out a chapter of my novel. I have to accomplish all of these different tasks, be all these different people, at the same time, in the same place. I was no good at it on Facebook, and, as it turns out, Im no good at it in real life, either.

Obviously, in the grand scheme of things, these are small problems. Lucky problems. My brother survived COVID-19 unscathed, and the rest of my family has remained thankfully uninfected. I have the relative job security of a tenured professorship at a time when tens of millions of Americans have lost their jobs. And I live in a happily integrated multi-ethnic neighborhood and household at a time when our nation is being torn apart by racist violence and racial strife. And, as my wife said when I explained the premise of this article to her, Welcome to the challenge of being a mom.

I have to accomplish all of these different tasks, be all these different people, at the same time, in the same place. I was no good at it on Facebook, and, as it turns out, Im no good at it in real life, either.

So I guess my inability to navigate context collapse is, in a way, really a reflection of my own privilege. Ive been lucky to have the space to be different things to different people. Lucky to have a private office on a beautiful college campus. Lucky to have a job that affords me the time and freedom to play at festivals. Lucky to have a home with room for a music studio and a garden. Lucky to have the freedom to quit Facebook without serious repercussions for my social or professional life.

In a way, then, COVID-19 is a blessing as well as a curse. By collapsing my context and taking away the infrastructure that allowed me to pursue the different aspects of my life in parallel, its revealed to me how much of my personal success and happiness has depended on that infrastructure, how rare it is, and how ill equipped I am to live my life without it. Its a rude awakening, but a necessary one for me, and, I think, for all of us.

We still dont know whether or when things will ever return to normal. Whether well develop a vaccine or a cure for COVID-19. Whether all the lost jobs will return, whether music festivals will start up again, whether theaters and restaurants and college campuses will reopen and resume business as usual. But I know one thing for sure: I wont be going back to the way I was before the pandemic. Now that I recognize the privilege inherent in keeping my life tidily compartmentalized, I dont want anything to do with it. Better to live an integrated, haphazard life as a half-ass than to live luxuriously in pieces as a total ass.

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I recognize the privilege inherent in keeping my life tidily compartmentalized: How quarantine made me reevaluate my life - MarketWatch

As lawmakers debate the extent of further government intervention for another federal spending package, the pandemic continues slamming people's livelihoods and throwing millions into a world of uncertainty.

Over 40 million Americans have filed for unemployment in the last three months, which has sent the jobless rate soaring to nearly 15% as of last month. That trend came as businesses closed their doors to keep the coronavirus from spreading, forcing a wave of furloughs and job losses in the work force.

The federal government initiated new programs aimed at mitigating the fallout, mainly through a $600 boost in weekly unemployment benefits and a one-time $1,200 stimulus check for millions of Americans under the CARES Act in March.

Read more:'Embrace the coming crash': A notorious market bear who called the dot-com bust warns big tech stocks are on the verge of succumbing to the economy's downturn

On Friday, the Commerce Department released data showing that personal incomes surged over 10% as consumer spending plunged 13%, the steepest drop ever recorded due to lockdowns keeping Americans at home. Many people also scaled back their spending as they were either furloughed or laid off.

But a stunning chart below illustrates the effectiveness of federal aid in significantly boosting household incomes during a period of severe economic contraction and reduced consumer spending.

The savings rate also skyrocketed 33% as a share of personal disposable income in May, a record high, according to the data. It's up from around 13% in March.

What the data relays is the continued effect of the lockdown in April, given that consumption fell nearly 14% as shown in the chart above. It indicated that Americans held onto their money since many businesses remained closed and stayed home to comply with public health guidelines.

Joseph Brusuelas, chief economist for RSM, said government aid was a critical element in salvaging incomes.

"Lost jobs and income thus far have been partially offset by the $1,200 aid check sent to most citizens and the extra $600 per week distributed to those put out of work due to the pandemic," he wrote in a Friday blog post. "In fact, that is the reason why personal disposable income inside the data has not completely collapsed."

Troy Ludtka, an economist at Natixis CIB Americas, a corporate and investment banking firm, said the development marked a victory for ambitious federal programs designed to aid struggling people.

"This is an unambiguous triumph of countercyclical government spending, which will save the U.S. economy a heap of trouble in the medium to long term," Ludtka told The New York Times.

Still, experts say the trend is likely to be short-lived as there are no additional stimulus checks planned and the ramped-up unemployment payments are set to expire on July 31 without further legislation.

Read more: BANK OF AMERICA: Buy these 13 under-the-radar tech stocks poised to outperform amid flaring China tensions and lasting pandemic damage

Economists are expecting a rebound in spending as states gradually scale back lockdowns and businesses begin to reopen, causing people to amplify their consumption.

But there's little prospect of a quick economic recovery, and economists forecast it will take a year or more for personal spending to reach pre-pandemic levels, Bloomberg reported.

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One stunning chart shows the success of federal aid in helping financially struggling ho... - Business Insider - Business Insider

Twenty years ago, John Junior was looking through the mirror at their reflection as they put on their mum's makeup and clothes.

When she caught John in the act and asked them what was happening, they simply told her that it felt normal to them.

John, who is genderfluid and uses the pronouns they/them, says that memories like these can now be looked back on as crucial stepping stones in their life journey but they didnt see it that way at the time.

Ive been confused about my gender identity since I was eleven, John tells the Manchester Evening News.

I wanted a sex change when I was an early teenager. I felt like I was living in the wrong body, and I still to this day feel more female than male inside.

John, 31, has Klinefelter syndrome, which means they were born with an extra X female chromosome, while they were also diagnosed with borderline personality disorder in August last year.

They say they have been bullied and suffered emotional, physical and sexual abuse since a young age.

On one occasion, they said they had a boiling hot kettle poured on them when they came home late.

I was constantly being put down and told nobody wanted me, John recalls.

I was told everyone hated me, and I was punched and kicked about a lot. I kept that to myself for a very long time.

I found it was just easier to lock up how I really felt and pretend my life was fine, but I eventually realised that locking up how I felt only added more stress and made my mental health worse.

In March 2018, John's dad passed away. John attempted to take their own life three days later after feeling they no longer had anyone to turn to.

At the time, John also weighed 27 stone and had severe depression and anxiety.

Being overweight was so damaging to my mental state, John says.

My dad was the one who helped me start to lose weight. All of a sudden, he wasnt there to help me with that.

Having already joined a Slimming World group in Wilmslow, John decided to keep at it to ensure their dads efforts werent in vain. Theyve since lost five stone.

It was during this time that John decided they needed to seriously consider how to turn their life around.

Despite feeling so low and upset, they came up with the idea of a project called John and Charlie's Journey.

Joined by a fluffy sidekick in the form of a cuddly duck called Charlie, John felt more comfortable with talking about their mental health and realised it could be used in a positive way to help others.

The aim is to raise awareness and to end the stigma surrounding mental health problems, John explains.

I want to get people talking about how they feel without feeling worried, judged or stigmatised.

Since November, John and Charlie have travelled across the country and share their personal experiences with mental health in order to help and inspire others.

They recently joined an abuse survivor to deliver a powerful message on domestic violence during the lockdown.

"Charlie sparks curiosity for people to come and talk to me, they say.

We take photos and do funny videos to lighten the mood, it's a great feeling to be able to lift someone's spirits when they're feeling low or alone.

I dont want others to experience what I did where I had nobody to turn to, felt all alone, scared and worried.

People have hope because me and Charlie are going to move mountains, we are bringing change to end the stigma.

Its going to be a challenge but I have passion and nothing beats that.

They have also been joined on their journey with some very special friends.

They were recently invited to the Boyzlife tour by Keith Duffy from Boyzone and Brian Mcfadden from Westlife.

Halfway through one of the shows, they were invited on stage and asked to share their story with the audience.

John and Charlie have also been working with Real Housewives of Cheshire star Tanya Bardsley at her Wellness Hub & Boutique.

I feel like I have a second chance in life, John says.

I have purpose and passion. We want to end the silence and we will.

But, John admits that recent events have been tough for them to cope with.

They have not left the house in over 55 days due to their OCD and fears over germ contamination.

I see people going out and I wish I could but, for me, its not as simple as just putting gloves on or wearing a mask, they say.

I am physically petrified of going out, my anxiety is very high and I have been having trouble sleeping.

However, John says they have been able to find some focus through using the Samaritans latest self-help app.

It features a mood tracker and recommends coping methods based on how the user is feeling.

It can just help you empty those thoughts that are clogging up your brain, John says of the app.

Its a relief to see them written down and on the page and helps take some of the weight off your shoulders.

John says the ultimate goal is to open centres across the UK, with the first one being in his hometown of Wilmslow.

They say the centres would provide mental health support, alongside therapy services and mental health awareness courses.

I used to believe it was just me with problems, they say.

But I realised people hide how they feel because they dont want to be judged.

I discovered that when one person talks, others will usually follow.

Its okay to not be okay, so lets end the silence together and talk.

You can follow John and Charlie's Journey on their website here.

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How John and Charlie are turning mental health trauma into personal success - Manchester Evening News

To the Shawnee Mission Community,

We are facing a challenge that tests our character. Across the country and our community, there is deep pain over the killing of George Floyd. We are seeing an outcry of grief and anger as our neighbors and families gather to speak out against injustice. Sadly, this and other recent events serve as stark reminders that we still have much work to do to address systemic racism, inequities, and disparities that exist in our country.

Why do these unjustified acts of atrocity continue to happen? That question and many others weigh heavily on our hearts. Similar incidents have happened repeatedly across the country, and many of our students and families are experiencing these events as repeated and on-going trauma. This is not who we aspire to be, these are not the values we profess, and we must all figure out together how to make these killings stop. It wont be easy; we have a lot of history and pain to overcome.

Our community highlighted the importance of addressing equity in our strategic plan and provided specific direction for actions that need to be taken. Putting the plan into action, we are training every staff member in cultural proficiency. We will continue our work to hire a more diverse workforce, including our grow our own initiative to help train the next generation of educators from within our diverse student body. We will also continue to publicly report our data, so that together we can monitor our progress on ensuring that each student has a personalized learning plan that prepares them to be college and career ready, with the personal skills they need for life success.

Part of systemic racism is the promotion of a narrative that some children are more capable than others, and that a childs abilities correlates with the color of their skin. Often, that belief is not a conscious one, but historically, it has been implicit in structures and actions. However, going forward, it is critical that our attitudes and actions provide hope and opportunity for every child.

At SMSD we are committed to making our world a better place for each and every student. We will be relentless in pursuit of our Districts mission, to ensure students can construct a foundation of success that is distinguished by an inclusive culture, an engaged community, and robust opportunities to challenge learners to achieve their full potential. Striving to fulfill this promise to each and every student must always be our goal.

We appreciate the partnership we have with our families and community in Shawnee Mission. The work in front of us is important, and together, we can make a difference. Thank you for being a great community that cares about each and every child.

Sincerely, Dr. Mike Fulton, Superintendent Heather Ousley, President, SMSD Board of Education Mary Sinclair, Vice-President Jamie Borgman Sara Goodburn Laura Guy Jessica Hembree Brad Stratton

Continue reading here:
SMSD News: Letter to the community - Shawnee Mission Post

The personal savings rate -- the amount people are saving as a percentage of their disposable income -- skyrocketed to 33% in April. It had been around 8% for months, but then ticked up to 13% in March before surging in April, according to new data from the US Bureau of Economic Analysis. This is by far the highest savings rate recorded since BEA started tracking it in 1959.

The accumulation of cash is largely due to the pandemic, which has made people cautious about their health and their finances and has kept many from their routine spending habits, said Ken Tumin, a banking expert at DepositAccounts.com, a bank account comparison site.

Here's what you need to consider when looking for a place to store your emergency savings.

That's not much of a return. But, for many savers in this ultra low-rate envrionment, the benefit traditional savings accounts do offer is convenience.

While both traditional and online savings accounts are FDIC insured, the accessibility to branches at traditional banks makes it easier to do things like deposit cash -- something that's more difficult to do with online savings accounts.

But the big banks do tend to charge higher monthly fees.

And those fees can add up, said Steven Chau, certified financial planner with Know Your Worth Financial of Tempe, Arizona.

"The difference in interest rates in this environment are not going to outweigh the cost of a few fees," said Chau.

"They are FDIC insured and you can keep your existing checking account," he said.

"Rates are above 1% now, but online savings account rates are falling," said Tumin. "I wouldn't be surprised if they fall to 1%."

At 1%, if you deposit $10,000, that's the difference between earning $100 a year if the rate remained unchanged at an online bank versus $1 at the end of the year from a traditional savings account offering 0.01%.

"This isn't a great return, but it's better than nothing for funds that need to stay liquid for any needs that might arise," said Ryan Watermiller, certified financial planner at Ankeny Financial Planning in Iowa.

Just be sure to read the fine print: Some online accounts charge a fee if you have not made a deposit or withdrawal within a certain number of months or if the balance drops below a specified amount. And there are some accounts that function like certificate of deposits by charging a penalty for closing the account before a specified amount of time.

CDs: Another safe place to put your money is a certificate of deposit, or CD. It's similar to a savings account since it's federally insured, but you agree to leave your money there for a period of time, such as six months, a year, five years or even longer. Typically, you earn more interest the longer your money is deposited.

But, as with savings accounts, the interest isn't much.

"Because CD rates have fallen so much, it isn't a good time to lock in right now," said Tumin. "There are now several online banks that cut their 5-year CD rates so low, they're lower than their savings account rates."

But, he said, if you have a CD ladder already going, in which maturing CDs are rolled over to new CDs, stick with it.

However, before automatically rolling over with your current bank, shop around, he said.

"Even online banks have been cutting CD rates to all time lows, but not all of them," he said. "Your bank may be one that is cutting rates and you may get a better rate elsewhere. Look around. You don't want to lock into a very low rate if you can find something better."

Money market accounts: Money market accounts, which generally earn higher rates than savings accounts, may allow for check-writing or debit cards and can require a higher minimum deposit.

But there may be some fees involved. Some money market accounts may have monthly fees, inactive account fees or other fees for not adhering to specifications by the bank.

High-yield checking accounts: High-yield checking accounts, sometimes called reward checking accounts, are usually offered by community banks or credit unions and offer rewards for meeting specific account requirements.

Most have no fees, but you do need to meet the requirements in order to earn the high interest rate.

"Reward checking accounts can at least provide a way to earn some interest right now in an environment where rates are low and will remain low for some time," said Tumin.

Read this article:
People are saving more than ever. Here's where to stash your cash - CNN

B.C. provincial health officer Dr. Bonnie Henry listens during a press conference in Vancouver on March 14, 2020.

DARRYL DYCK/The Canadian Press

Carey Doberstein is an assistant professor of political science at UBC and the author of Distributed Democracy: Health Care Governance in Ontario.

There is no doubt that British Columbia has managed to contain the COVID-19 pandemic better than Ontario and Quebec. At the end of February, B.C. had more cases than either of those two provinces. But since then, the province has managed to contain the outbreak such that its per-capita metrics are much closer to that of the smaller seven provinces. Among jurisdictions with more than 5 million people, it now has the lowest death rate in North America and Europe.

For some, this success can been ascribed to luck or circumstance. In particular, experts have associated province-by-province outcomes with the different timings of spring breaks, as well as the proximity and frequency of connections to New York, the epicenter of the outbreak in the United States in the first months.

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What is the reopening plan in my province? A guide

These circumstantial factors surely explain part of the patterns of spread in the early days. But we must not ignore the extent to which the particularities of health care governance in each province have shaped the trajectory of the virus in the subsequent weeks.

While governments in B.C., Ontario and Quebec have all managed this crisis well at the political level, it is not their partisan characteristics that are important here. Rather, it is how individual provinces have set up their health authorities and the manner in which they have structured the integration of core parts of the health system, such as primary care, hospitals and labs, that is going to be key to a comprehensive post-pandemic evaluation of their performance.

When observed from the perspective of a patients ability to receive essential medical care, the provinces often do not appear all that different. Yet when one peels back the outer layer, revealing the nuts and bolts of health care governance across Canada, we see considerable variation in how individual provinces have structured where authority is held, who makes those decisions, and how various parts of the health care sector (e.g. primary care, hospitals, labs, long-term care and mental health) are linked or not.

Some provinces have a single province-wide health authority, such as Alberta Health Services; others have a few regional bodies, such as B.C.'s five, co-ordinated by one overarching province-wide agency. Others have dozens or many more localized authorities (Ontario and Quebec).

This variation is the result of the debate around whether health care governance ought to be centralized or decentralized. That has never been settled among health-policy scholars, with no clear performance superiority established from either model. It is complicated because community and personal health are complicated. There are trade-offs at each point along the spectrum with respect to democratic accountability, responsiveness, service integration and efficiency.

Yet when a pandemic hits, we want a health system that functions as an integrated system though not necessarily a centralized one with information systems linked across various institutions and service providers. On this measure in particular, Ontario and Quebec have long faced challenges. Quebec has numerous nested layers of health authorities at the local level, with some amount of historically preserved autonomy and independence from each other. Ontario is challenged as a result of the dismantling of Local Health Integration Networks (LHINs), which began at roughly the same time the pandemic hit, forcing it into an awkward place at a crucial moment.

In British Columbia, critical integration work among the five regional health authorities is coordinated by the Provincial Health Services Authority (PHSA), as well as associated agencies that deliver some critical programs and services province-wide, including managing supply chains, public-health policy guidance, aggressive contact tracing and laboratory services. These configurations have existed for some time in response to previous disease outbreaks. Additionally, many of B.C.s long-term care homes are operated by the health authorities and are all linked to some degree. All of this is led by Dr. Bonnie Henry, an experienced provincial health officer whose decisive orders could be acted upon immediately thanks to the highly co-ordinated system.

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By contrast, Ontario and Quebec are comparatively less integrated with respect to partnerships, services and administration in such crucial realms as long-term care. As a result, parts of those provinces have responded well, while other hot spots appear to be losing ground. Evidence is piling up that health-officer orders in Ontario and Quebec have not had the authoritative weight and seamless implementation as those issued in B.C.

Such provincial variations are a feature, not a bug, of Canadian federalism. A comprehensive examination of the individual responses will provide us lessons for future health crises that can then be implemented with local precision and sustained public engagement, much as B.C. learned and led after HIV, SARS and H1N1. Once the COVID-19 pandemic recedes, we should not ignore any potential factors that explain why some provinces fared better than others and health-system governance needs to be part of that conversation.

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Governance, not government, might be a better measure of provinces pandemic success - The Globe and Mail