News Article | May 12, 2017
Despite all the negativity the local economy has faced since the Cabinet reshuffle in March, it is still not being reflected in the rand, which could indicate that emerging markets are “not as fragile” as they used to be, which bodes well for future investment. Speaking at a breakfast meeting in Sandton on Friday, Bureau for Economic Research (BER) senior economist Hugo Pienaar explained that the current account deficit, which had seen “nice improvement since 2013”, meant that South Africa’s external financing requirements was lower than before, pointing to the country needing less foreign capital at this stage. “We’ve seen a continuation of that this year – we actually went into surplus on this trade balance,” said Pienaar, adding that over the last couple of months, the country had experienced big inflows into its equity markets. Paired with bond inflows, it indicated that South Africa was, in fact, still receiving capital. However, Pienaar highlighted that most of these inflows came on the back of stronger commodity prices, such as for iron-ore and coal, which have already flattened out. “Already, there is a bit of concern of whether this improvement in the current account will be sustainable,” he noted. Meanwhile, he said the biggest concern was State-owned enterprises (SoEs). “Will there be increased guarantees for these entities? The biggest fallout from the junk status so far is that SoEs are no longer in a position for lending,” he noted. Pienaar added that the BER’s assumption about the rand is that it will be weaker by the end of the year than at present. “Before the downgrade, the market was moving towards pricing in interest rate cuts towards the second half of the year, but we think that is off the table. It is highly unlikely in an environment where there are concerns about fiscal policy,” he said.
News Article | May 11, 2017
By: Megan van Wyngaardt Despite all the negativity the local economy has faced since the Cabinet reshuffle in March, it is still not being reflected in the rand, which could indicate that emerging markets are “not as fragile” as they used to be, which bodes well for future investment. Speaking at a breakfast meeting in Sandton on Friday, Bureau for Economic Research (BER) senior economist Hugo Pienaar explained that the current account deficit, which had seen “nice improvement since 2013”, meant that South Africa’s external financing requirements was lower than before, pointing to the country needing less foreign capital at this stage. →
News Article | May 24, 2017
Of employees who receive vacation/paid time off, nine out of 10 (91 percent) report taking at least some time off in the last 12 months, up from 85 percent in 2014. Over the same time period, 23 percent reported taking 100 percent of their eligible time off, while another 23 percent of employees reported taking 25 percent or less of their eligible time off (both down two percentage points from 25 percent in 2014). Nine percent reported taking no vacation or paid time off at all. Despite slightly more employees taking vacation time overall, it doesn't necessarily mean more are getting away from work. Fewer employees who take vacation/paid time off report being able to completely "check out" while they are on vacation (54 percent in 2017, down from 63 percent in 2014) and more than one quarter (27 percent) are expected to stay aware of work issues and jump in if things need their attention while they are away, up from 20 percent in 2014. More than one in ten (12 percent) employees who take vacation/paid time off are expected to be reachable, deliver work and/or participate in conference calls etc. while on vacation (compared to 9 percent in 2014). Given these expectations, it may be no surprise that many employees remain in contact with colleagues and managers while using paid time off. While on vacation, 29 percent of employees who took vacation/time off from work in the past 12 months report being contacted by a co-worker (up from 24 percent in 2014) about a work-related matter, and one in four (25 percent) report being contacted by their boss (up from 20 percent in 2014). Work is also on Americans' minds more even when they are on vacation, as 23 percent of employees who took vacation/time off from work in the past 12 months said they had a difficult time not thinking about work while on vacation (up from 17 percent in 2014). Fourteen percent also said a family member complained that they were working while on vacation (up from 9 percent in 2014). However, not all employees who used vacation time actually intended to take a vacation. More than one in ten (12 percent) employees used their paid time off in the past 12 months to interview for another job. Of those who reported working while on vacation, the top reasons they said they do so are because they fear getting behind (34 percent), no one else at their company can do the work while they're out (30 percent), they are completely dedicated to their company (22 percent), and they feel they can never be disconnected (21 percent). "We are seeing a push and pull situation when it comes to employees taking vacation and paid time off, in which people attempt to step away from the office for a break from work, but technology is keeping them connected with the swipe of a finger," said Carmel Galvin, Glassdoor chief human resources officer. "While taking a vacation may make employees temporarily feel behind, they should realize that stepping away from work and fully disconnecting carries a ripple effect of benefits. It allows employees to return to work feeling more productive, creative, recharged and reenergized. In turn, employers should consider what a vacation really means - to actually vacate work - and how they can support employees to find true rest and relaxation to avoid burnout and turnover within their organizations." To help employees and employers ensure a healthy work-life balance, Glassdoor has compiled a variety of recent posts with relevant data and helpful tips: 25 Highest Rated Companies for Vacation & Paid Time Off How to Talk to Your Manager About Your Work-Life Balance 7 Ways To Manage Employee Time Off How Soon Should You Put in for Holiday Vacation? Effectively Managing Employee Paid Time Off More Data, Images & Interviews For more data, including breakdowns of survey results by age, gender and location, an image of survey results, and/or to speak with a Glassdoor spokesperson, please contact: firstname.lastname@example.org. Methodology The 2017 survey was conducted online within the United States by Harris Poll on behalf of Glassdoor from March 30 - April 3, 2017 among 2,224 U.S. adults ages 18 and older, among which 1,209 are employed, 852 receive vacation/paid time off, and 771 took vacation/paid time off in the past 12 months. The 2015 survey was conducted in March 12-14, 2014 among 2,022 U.S. adults ages 18 and older, among which 1,089 were employed, 736 received vacation/paid time off, and 623 took vacation/paid time off in the past 12 months. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact email@example.com. About Glassdoor Glassdoor is one of the largest and fastest growing job sites in the world today. Set apart by the tens of millions of reviews and insights provided by employees and candidates, Glassdoor combines all the jobs with this valuable data to make it easy for people to find a job that is uniquely right for them. As a result, Glassdoor helps employers hire truly informed candidates at scale through effective recruiting solutions like job advertising and employer branding products. Launched in 2008, Glassdoor now has reviews and insights for approximately 700,000 companies in more than 190 countries. For labor market trends and analysis, visit Glassdoor Economic Research. For company news and career advice and tips, visit the Glassdoor Blog and for employer-related news and insights to help employers hire, visit the Glassdoor for Employers Blog. Visit Glassdoor.com or download our apps on iOS and Android platforms. "Glassdoor" and logo are proprietary trademarks of Glassdoor, Inc. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/glassdoor-survey-finds-americans-forfeit-half-of-their-earned-vacationpaid-time-off-300461909.html
News Article | May 23, 2017
ORLANDO--(BUSINESS WIRE)--Organizations that harness the full potential of their people will drive business success that will power the future of work. According to a recent Oxford Economic Research study, executives who supported virtual work and mobile business strategies outperformed their peers across a wide range of business metrics, including higher revenue growth and profits, reduced expenses, increased employee retention and better customer satisfaction.1 To help businesses drive transformational performance and greater employee engagement, Citrix is announcing new secure digital workspace offerings at Citrix Synergy that will power the future of work, enabling customers to reimagine where and how work happens – and what connected ‘things’ are involved. New Citrix innovations include enhanced user experience capabilities in a unified, secure digital workspace; new mobile, software-defined networking and analytics services in the Citrix Cloud and advanced document workflows. In addition, Citrix is introducing a new intelligent security framework geared to secure and simplify access and control of the apps and data people need to work. “The industry continues its rapid shift toward cloud and mobile-first strategies to boost workforce productivity and drive end user satisfaction. In fact, recent IDC research shows that in 2019 enterprises will spend $2.1 trillion on technology and services to implement and manage digital transformation initiatives,” said Robert Young, research director, IT Service Management and Client Virtualization Software, IDC. “To help drive customer success in the future of work, Citrix has an opportunity to create exceptional end user experiences while providing IT with empowering tools to drive change, processes and policies.” Gartner says organizations currently using cloud services indicate they are allocating 40 percent of their IT budget to cloud-related spending (including cloud-related services). Seventy-eight percent of these organizations plan to increase their spending on cloud through 2017.2 This proliferation of cloud technologies is frustrating end users that must navigate multiple cloud services, apps, and data sources as well as disparate access methods and credentials. Meanwhile, shadow IT increases these challenges by adding even more unsanctioned apps and tools. This, in turn, increases service complexity and the risk of security breaches as users circumvent IT standards. To fuel productivity, Citrix is introducing an enhanced secure digital workspace user experience, which unifies access and management of mobile, SaaS, web and Windows apps and documents, and consolidates access, control and workflows in one, easy-to-use solution. With a single sign-on using any federated identity, employees gain simple, secure access to a seamless, consistent experience on any device. Unlike other solutions, the Citrix secure digital workspace is designed to be contextual, ensuring employees have the optimal balance of security, productivity and performance based on location, device, identity and other analytics. The new workspace experience is also the only solution to include advanced content collaboration, information rights management and business workflow capabilities. From directly within the secure digital workspace, users can create, edit and collaborate on Office 365 online documents. They can then initiate a custom workflow and approval process with colleagues – all without leaving the workspace, and without having to re-authenticate as they switch between SaaS applications. As organizations plan for their future, security continues to be a top priority. A recent global survey focused on security and IT professional found that 73 percent say data management, 76 percent say configuration management and 72 percent say app management are the keys to reducing the security risk over the next two years in building a new IT infrastructure.3 The expanding and changing enterprise security perimeter – with new endpoints, locations, data sources, networks and clouds – is creating the need for more intelligence in orchestrating security policies across this new security perimeter. In addition, IT organizations need the ability to enforce those policies. Citrix addresses these evolving security needs with a new and unique approach that’s built around the reality of how people work. This approach provides expanded controls to form the basis for a new software-defined perimeter of the digital workspace, and complements other layers of defense in a multi-layer approach to security. In addition, to provide security-focused offerings to help Citrix customers better protect their Citrix environments, Citrix Consulting Services is formalizing a Security Practice. Today, Citrix is unveiling Citrix Analytics, a new, holistic security and behavior analytics offering that extends the capabilities of the proven Citrix NetScaler Management and Analytics System (MAS) with new behavior detection, insights, and proactive risk resolution capabilities. This new offering leverages machine learning. The new security solution analyzes data sets across the Citrix product portfolio – XenApp/XenDesktop, XenMobile, ShareFile, NetScaler and leverages machine learning algorithms and application behavior anomaly detection technology to enable IT organizations to find and quickly troubleshoot application infrastructure performance issues. Meeting Customers Wherever They Are on Their Cloud Adoption Journey Citrix Cloud continues to provide the cloud-based management plane across all Citrix technologies, integrating them with a simple, consistent administrative experience. This empowers customers to easily combine the applications, data and tools needed to work from the cloud and deliver them to people anywhere in secure, personalized and contextually relevant ways. Because Citrix Cloud is designed to manage multi-cloud environments, customers who use it for virtual apps, desktops and data can place their workloads on any public or hybrid cloud, or on any on-premises virtualized environment. Citrix has accelerated innovation in the cloud, with the introduction of new services, features and capabilities to build out this powerful workspace delivery model. These services include XenApp Essentials and XenDesktop Essentials that are native to Microsoft Azure, but managed from Citrix Cloud. Additional Citrix Cloud services include XenMobile device management and app management and NetScaler Gateway Service, allowing customers to create a gateway-in-the-cloud, speeding and simplifying implementation. In addition, Citrix Cloud offers integration with Azure Active Directory for administrators, internet of things (IoT) capabilities, and other new services in our labs area. Customers, like ÅF, are creating secure digital workspaces through Citrix Cloud. ÅF was founded in 1895 as The Southern Swedish Steam Generator Association and has been at the forefront of engineering, energy, and industrial design ever since. The firm has recently revealed how it uses gaming engine and virtual reality software to create 3-D, walk-through visualizations for clients on building and infrastructure projects. “By adopting a Citrix Cloud solution running workloads on Microsoft Azure, we have created a new way of working at ÅF. This solution gives us the agility we need to respond to business needs, whether giving our engineers remote access to using resource-intensive applications like CAD, or integrating the acquisition of a specialist consulting firm,” said Mattias Jadesköld, innovation team leader, ÅF. “With Citrix Cloud, we have created the collaborative workplace that enables our employees to work freely from anywhere on any device.” “To be efficient and successful, organizations need to provide their people with a simple, unified and consistent user experience on any device with intelligent security that’s designed to deliver the workspace of the future,” said PJ Hough, senior vice president, product, Citrix. “To protect and sustain business operations, enterprises need powerful new security analytics that predict potential risks and enable managers to proactively address them. Today, we are introducing new products and services that our customers can use to embrace the future of work, increase productivity and tap into the latent potential of their workforces.” Citrix (NASDAQ:CTXS) aims to power a world where people, organizations and things are securely connected and accessible to make the extraordinary possible. We help customers reimagine the future of work by providing the most comprehensive secure digital workspace that unifies the apps, data and services people need to be productive, and simplifies IT’s ability to adopt and manage complex cloud environments. With 2016 annual revenue of $3.42 billion, Citrix solutions are in use by more than 400,000 organizations including 99 percent of the Fortune 100 and 98 percent of the Fortune 500. This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the impact of the global economy and uncertainty in the IT spending environment, revenue growth and recognition of revenue, products and services, their development and distribution, product demand and pipeline, economic and competitive factors, the Company's key strategic relationships, acquisition and related integration risks as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. The development, release and timing of any features or functionality described for our products remains at our sole discretion and is subject to change without notice or consultation. The information provided is for informational purposes only and is not a commitment, promise or legal obligation to deliver any material, code or functionality and should not be relied upon in making purchasing decisions or incorporated into any contract. © 2017 Citrix Systems, Inc. All rights reserved. Citrix, ShareFile, NetScaler, XenApp and XenDesktop are trademarks of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owners. 3 The Need for a New IT Security Architecture: Ponemon Institute, 2017
News Article | April 13, 2017
NEWPORT BEACH, Calif., April 13, 2017 (GLOBE NEWSWIRE) -- Demand for temporary workers in the United States is expected to increase 3.6% on a seasonally adjusted basis for the 2017 second quarter, when compared with the same period in 2016, according to the Palmer Forecast™, released today. The Palmer Forecast™ indicated a 2.9% increase in temporary help for the just ended 2017 first quarter. Actual results from the Bureau of Labor Statistics (BLS) came ahead of forecast at 3.5% with 10,500 net new temp help jobs added in March and 34.500 for the quarter. “2017 first quarter marks the 29th consecutive quarter of year-over-year increases in demand for temporary workers, and our forecast for the second quarter predicts a similar rate of growth,” said Greg Palmer, founder and managing director of G. Palmer & Associates, an Orange County, California-based human capital advisory firm that specializes in workforce solutions. “The data shows that temp help as a percentage of new job growth remained constant in Q1 while wages were up nearly 2.7%.” According to updated data from BLS, 32,000 temp jobs were added in 2016, an average of 2,600 per month, versus 97,000 temporary jobs in 2015, an average of 8,000 per month. In 2014, the agency reported a total of 162,000 new temp jobs, preceded by 139,000 added temp jobs in 2013, and 142,000 temp jobs in 2012. The Labor Department also reported that a net of 98,000 seasonally adjusted non-farm jobs were added in March 2017, which was less than consensus expectations of 180,000. The trailing three-month average decreased slightly to 178,000, compared to the 12-month average of 182,000. The key job categories of growth and declines are as follows: U.S. employment trends are underpinned by near all-time lows in the labor participation rate. In March 2017, the participation rate remained soft at 63%, with 90,000 workers dropping out of the workforce, and the commonly referred to unemployment rate, U3, ticked down slightly to 4.5%. As reported by BLS, for the same period, the rate of unemployment for workers with college degrees decreased 10bps to 2.5% from February, and the unemployment rate for workers with less than a high school education decreased 110bps to 6.8%. The U6 unemployment rate, which tracks those who are unemployed, as well as those who are underemployed and are working part-time for economic reasons, was down 10bps at 8.9%. The U6 rate is considered the rate that most broadly depicts those most affected by the downturn and measures the rate of discouraged workers. “One of the most revealing indictors to watch is the temp help penetration rate, which is significant because it measures temp help as a percentage of total employment. In March 2017, the penetration remained at near all-time highs, at 2.05% of the total labor market versus a low of 1.34% in June 2009,” Palmer said. The next few quarters… With the election behind us, there appears to be optimism in the jobs market regarding lower corporate tax rates and less government regulation, indicating more anticipated jobs in 2017. However, employers still are reporting difficulty in filling vacancies, with nearly 6 million jobs going unfilled monthly. The key skill areas most severely impacted are those in health care, information technology, skilled trades and those positions that require high degrees of math and science. As of Q4 2016, the 10 most difficult positions to fill reported by the American Staffing Association are as follows: Physician assistants, obstetricians and gynecologists, and nurse practitioners moved into the top 10 list of hardest-to-fill positions. Health care continues to dominate the list with eight of the 10 most difficult-to-fill occupations falling within that sector. The rankings are based on CareerBuilder supply and demand data. About the Palmer Forecast™ The Palmer Forecast™ is based, in part, on BLS and other key indicators. The model was initially developed by the A. Gary Anderson Center for Economic Research at Chapman University and serves as an indicator of economic activity. Companies that employ temporary staff use the forecast as a guide to navigate through fluctuating economic conditions in managing their workforce to meet business demands. About G. Palmer & Associates G. Palmer & Associates, founded in 2006, provides advisory services in the human capital sector. Founder Greg Palmer has served on the board of the American Staffing Association and was president and chief executive officer of RemedyTemp, Inc., one of the nation’s largest temporary staffing companies, prior to its sale in June 2006. For more information, visit www.GPalmerandAssociates.com.
News Article | January 25, 2017
Project Expected to Generate 1,287 Full-Time Equivalent Construction Jobs and 699 Full-Time Equivalent Permanent Jobs Upon Opening Completed Project Estimated to Increase State and Local Tax Revenue by $4.6 Million Annually NASHVILLE, Tenn., Jan. 25, 2017 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE:RHP), a lodging real estate investment trust ("REIT") specializing in group-oriented, destination hotel assets in urban and resort markets, today announced plans for a proposed $90 million investment to create SoundWaves, a luxury indoor/outdoor waterpark, adjacent to Gaylord Opryland Resort & Convention Center in Nashville, Tenn. The proposed project includes nearly 111,000 square feet of upscale indoor water attractions and activities over three levels and another 106,000 square feet of outdoor water amenities. The Company retained renowned hospitality design firm Blur Workshop to develop the concept for the project, which will have dedicated indoor and outdoor recreation zones for adults, young children and families, as well as dining options and private cabana rentals. Adult guests will have exclusive access to adults-only indoor and outdoor pools, bars and lounging areas throughout the complex. The indoor attractions will be enclosed under a soaring atrium, a hallmark of the Gaylord Hotels brand, and surrounded by lush, tropical landscaping. Year-round indoor attractions include an indoor slide tower with slides ranging from 32-to-46-feet tall, a double flow rider, rapid and lazy rivers, an activity pool with rock climbing and more features to be announced as the project progresses. Seasonal outdoor features include a 315,000 gallon wave pool with a giant LED movie screen, a 45.5-foot slide tower, an adults-only pool and a kids pool with a multi-level play structure. Colin Reed, chairman and chief executive officer of Ryman Hospitality Properties, said, “Gaylord Opryland has been a driving force for convention and leisure travel to the Nashville market for decades. We view this project as a tremendous opportunity to further cement Nashville’s must-visit status with a one-of-a-kind amenity that will appeal to group customers while also serving as a major demand inducer for families and adult leisure guests looking for upscale recreation options. We believe this project will drive increased outside-the-room spending and additional points of premium-rated transient occupancy by enticing visitors to extend their stay in Nashville.” Tentatively slated to open in fall 2018, the SoundWaves project is estimated to generate significant economic impact for Metro Nashville and the State of Tennessee, according to an economic impact study conducted by Dr. William F. Fox at the University of Tennessee’s Boyd Center for Business and Economic Research. The study estimated that the proposed SoundWaves project will generate 1,287 full-time equivalent temporary jobs, $185 million in economic impact and a one-time increase of $8.4 million in state and local taxes during its planned 20-month construction phase. According to the study, once the proposed project is operational, SoundWaves is expected to produce a total, annual economic output of $57.1 million, create 699 full-time equivalent jobs and increase state and local tax revenue by $4.6 million annually. These figures are in addition to Gaylord Opryland’s current estimated annual impact to the Tennessee economy of $866.5 million and $70.7 million in state and local tax revenue (based on 2015 tax data). “Our city is fortunate to have a vibrant tourism and hospitality industry that creates quality jobs for residents and generates tax revenues that fund schools and other essential services,” said Nashville Mayor Megan Barry. “Continued investment in all areas of the city, such as the project Ryman Hospitality Properties is planning, is vital to our success as a welcoming city for tourists as well as an ideal place to live, work and play. This park, once completed, will not only create jobs and generate revenue at the Gaylord Opryland Resort & Convention Center but also will enhance and benefit the Donelson economy, especially along the Music Valley corridor.” The proposed project’s $90 million cost will be funded with cash on hand and borrowings under the Company’s credit facility. The Company has requested that The Metropolitan Government of Nashville and Davidson County establish a payment in lieu of taxes, or PILOT, arrangement under which the real property taxes of the Gaylord Opryland Resort will, following the 2017 property tax reassessment, be capped at that new level for eight years. The Company also has requested that Metro Nashville extend the existing appropriation of the one percent hotel occupancy tax generated solely by the Gaylord Opryland Resort, established in 2010 for use in the Grand Ole Opry House flood repair and remediation efforts, for an additional six years to reimburse the Company for additional unreimbursed costs associated with these flood remediation efforts. Reed continued, “As the second largest property taxpayer in Davidson County, the agreement we are seeking with Metro Nashville would afford our Company a measure of predictability with regards to future tax obligations on our Opryland parcel as well as the opportunity to, over time, offset some of our initial, upfront investment. The structure we are proposing makes it possible for us to make this significant $90 million capital investment in the Nashville area that will produce new jobs and generate substantial additional tax revenue for our state and local government.” The Company has also proposed that it donate to Metro Nashville a parcel of land with direct access to the Cumberland River for use in the East Bank Greenway system as a launching area for personal watercraft and other water activities. “This proposed land donation will provide a key access point to the Cumberland River for the Donelson community and all Nashville residents and visitors,” said District 15 Metro Nashville Council Member Jeff Syracuse. “This access is something Metro Parks and Ryman Hospitality Properties have wanted to make available to the public for some time, and I am thrilled that Ryman Hospitality Properties intends to make this donation for neighbors to enjoy as part of their continued investment in the Donelson area.” About Ryman Hospitality Properties, Inc. Ryman Hospitality Properties, Inc. (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 7,811 rooms that are managed by lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington, DC at National Harbor, a 192-room hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; and 650 AM WSM, the Opry’s radio home. For additional information about Ryman Hospitality Properties, visit www.rymanhp.com. Cautionary Note Regarding Forward-Looking Statements This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of our business, estimated capital expenditures. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and its Quarterly Reports on Form 10-Q and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
News Article | November 10, 2016
BEER-SHEVA, Israel, Nov. 10, 2016 - Male athletes are far more likely to choke under pressure than their female counterparts, according to researchers at Ben-Gurion University of the Negev (BGU) as part of a study of men's and women's Grand Slam Tennis tournament play. Their paper, Choking Under Pressure and Gender, examined these high-level athletic competitions, describing them as "a unique setting in which two professionals compete in a real-life contest with high monetary rewards," to assess how both men and women respond to competitive pressure in comparable situations. "Our research showed that men consistently choke under competitive pressure, but with regard to women the results are mixed," says Dr. Mosi Rosenboim of BGU's Department of Management. "However, even if women show a drop in performance in the more crucial stages of the match, it is still about 50 percent less than that of men." "The purpose of this study is to shed additional light on how men and women respond to competitive pressure and use its conclusions to better understand the labor market," says Dr. Danny Cohen-Zada of BGU's Department of Economics. "For example, our findings do not support the existing hypothesis that men earn more than women in similar jobs because they respond better than women to pressure." "For this purpose, we use game-level tennis data on all the first sets of all four Grand Slam tournaments in 2010 and examine, within each tennis match, whether and how much each gender deteriorates or improves at crucial stages of the match," says Dr. Cohen-Zada. "The analysis is based on 4,127 women's and 4,153 men's tennis games." The study does, however, explain that caution should be exercised in applying its findings directly to the labor market. "For one thing, while we analyzed how female tennis players respond to pressure in a contest that is homogeneous with regard to gender, in the labor market women are required to respond to competitive pressure in a different setting where, for example, they compete with men," says paper co-author Dr. Alex Krumer, of the Swiss Institute for Empirical Economic Research at the University of St. Gallen. "In addition, tennis players may have different preferences and characteristics that may not necessarily make them a representative subject. Nonetheless, the fact that we have uncovered such robust evidence that women can respond better than men to competitive pressure calls for further investigation in other real-life tournament settings." According to the researchers, stress influenced by an onset of heightened cortisol levels is one of the possible culprits, and cite other researchers' sports-centric studies that have already shown that high amounts of cortisol correlate with poor second serves in tennis and worse golf performance. "This literature indicates that in response to achievement challenges, cortisol levels increase more rapidly among men than among women, and that high levels can harm the mind's critical abilities," says paper co-author Dr. Offer Moshe Shapir of the Center for Business Education and Research at NYU Shanghai. About American Associates, Ben-Gurion University of the Negev American Associates, Ben-Gurion University of the Negev (AABGU) plays a vital role in sustaining David Ben-Gurion's vision: creating a world-class institution of education and research in the Israeli desert, nurturing the Negev community and sharing the University's expertise locally and around the globe. As Ben-Gurion University of the Negev (BGU) looks ahead to turning 50 in 2020, AABGU imagines a future that goes beyond the walls of academia. It is a future where BGU invents a new world and inspires a vision for a stronger Israel and its next generation of leaders. Together with supporters, AABGU will help the University foster excellence in teaching, research and outreach to the communities of the Negev for the next 50 years and beyond. Visit vision.aabgu.org to learn more. AABGU, headquartered in Manhattan, has nine regional offices throughout the United States. For more information, https:/ .
News Article | March 1, 2017
BEER-SHEVA, Israel...March 1, 2017 - Research conducted at Ben-Gurion University of the Negev (BGU) has determined that psychological momentum significantly affects performance among men but not among women, which may account for exaggerated risk-taking in financial and business endeavors among males. Psychological momentum is defined as a state-of-mind where an individual or a team feels things are going unstoppably their way and is known to be caused, among other factors, by shifts in testosterone levels. The study, "Psychological Momentum and Gender," is published in the March volume of the Journal of Economic Behavior & Organization. According to Dr. Danny Cohen-Zada, a lecturer in the BGU Department of Economics, "The purpose of our study was twofold: to estimate the causal effect of psychological momentum on performance in real tournament settings, and to examine whether there are any gender differences in the corresponding response." The researchers analyzed two different samples of men's and women's judo competitions from 2009 to 2013. In the first, they looked at the bronze medal fights of each tournament. While competitors in this fight won the same number of total bouts, some had won their most recent bout while others did not. Those who reached the bronze medal fight following a win have a potential momentum advantage. The authors examined this unique setting to determine whether the contestants with the momentum advantage had a higher probability to win the fight. "Our results showed that based on a cross-section analysis of 106 men's and 111 women's fights from eight major annual judo events, having a psychological momentum advantage significantly increases the winning probability in men's contests but not in women's," says Dr. Alex Krumer of the Swiss Institute for Empirical Economic Research (SEW), University of St. Gallen, Switzerland. In the second part of the study, based on the head-to-head history of the pairs from the first sample and analyzing 225 men's and 231 women's fights, the researchers obtained similar results by analyzing how the performance of the same pair of judokas (judo experts) is affected by varied momentum statuses in different tournaments. As expected, the results of these specifications indicate that the psychological momentum effect exists among men, but not among women. The researchers believe that their findings have implications for business. "We can connect our findings to the effect of psychological momentum in financial markets of which 90 percent are men," says Dr. Ze'ev Shtudiner from the Department of Economics and Business Administration, Ariel University, Israel. Drs. Krumer and Shtudiner earned their doctoral degrees in economics from BGU. "Such an effect may lead male traders, driven by an increase in testosterone due to a successful investment, to take exaggerated risks, which, in turn, create price bubbles," says Dr. Shtudiner. "By increasing the number of women in financial markets, it may be possible to stabilize these markets since women have less dramatic shifts in testosterone levels, which can make them less prone to the momentum effect. This argument is consistent with our results that momentum effects are generated only among men, since it is only among them that testosterone levels increase after success." According to Dr. Krumer, "An increased frequency of positive feedback from managers after successful actions may turn into a positive psychological momentum and thus increase productivity. Similarly, managers should exert efforts to reduce the influence of unsuccessful actions of their workers to avoid productivity losses." Given these findings, Dr. Cohen-Zada believes additional research would be beneficial focusing on the role of psychological effects on performance in male-dominated positions, such as stockbrokers, high-profile managers, politicians, and military commanders. About American Associates, Ben-Gurion University of the Negev American Associates, Ben-Gurion University of the Negev (AABGU) plays a vital role in sustaining David Ben-Gurion's vision: creating a world-class institution of education and research in the Israeli desert, nurturing the Negev community and sharing the University's expertise locally and around the globe. As Ben-Gurion University of the Negev (BGU) looks ahead to turning 50 in 2020, AABGU imagines a future that goes beyond the walls of academia. It is a future where BGU invents a new world and inspires a vision for a stronger Israel and its next generation of leaders. Together with supporters, AABGU will help the University foster excellence in teaching, research and outreach to the communities of the Negev for the next 50 years and beyond. Visit vision.aabgu.org to learn more. AABGU, which is headquartered in Manhattan, has nine regional offices throughout the United States. For more information, visit http://www.
News Article | February 15, 2017
MILL VALLEY, Calif., Feb. 15, 2017 /PRNewswire/ -- A new study, Why Do Workers Quit?, conducted by Glassdoor Economic Research, finds employees that stagnate in a job too long are more likely to leave their employers rather than move to a new role within the company. The economic research...
News Article | December 7, 2016
Sendero, a Dallas-based management consulting firm, has been honored with a Glassdoor Employees’ Choice Award, recognizing the Best Places to Work in 2017. Sendero ranked #9 on the Small/Medium Businesses list, which includes businesses with 1,000 or fewer employees. “We are thrilled to be recognized by Glassdoor with this national award,” said Bret Farrar, Sendero CEO and founder. “This honor would not be possible without our incredible people, who’ve played a major role in crafting our unique and strong company culture.” On Glassdoor, current and former employees of companies worldwide can share insights and opinions about their work environments by sharing a company review, designed to capture a genuine and authentic inside look at what it’s like to work at particular jobs and companies. When sharing a company review on Glassdoor, employees are asked to rate their satisfaction with the company overall, and key workplace factors like career opportunities, compensation, benefits, work/life balance, senior management, as well as culture and values. In addition, employees are asked to describe the best reasons to work at their companies as well as any downsides. Sendero’s annual Glassdoor rating was a 4.8 out of 5.0 – one of the highest ranks on the site. The Best Places to Work are determined using company reviews shared by U.S. based employees between November 2, 2015 and October 30, 2016. To be considered for the U.S. SMB category, a company must have less than 1,000 employees and have received at least 25 company reviews from U.S.-based employees during the period of eligibility. The final list is compiled based on Glassdoor’s proprietary algorithm, and takes into account quantity, quality and consistency of reviews. The complete list of the Glassdoor Best Places to Work in 2017: http://www.glassdoor.com/Best-Places-to-Work-LST_KQ0,19.htm. About Sendero: Sendero, a management consulting firm renowned for its culture and people, provides expertise delivering strategic planning, technology enablement, organizational effectiveness, and analytics solutions across multiple industries. Sendero helps businesses grow and thrive by bringing deep capabilities, driving alignment among stakeholders, and executing critical initiatives. To learn more about Sendero, visit our website. Sendero media contact: For more information, please contact Ruth Farrar at 972-388-5760. About Glassdoor: Glassdoor is the world’s most transparent jobs and recruiting marketplace that is changing how people search for jobs and how companies recruit top talent. Glassdoor combines job listings with anonymous reviews, ratings and salary data to help people find a job and company they love. This level of transparency, in turn, helps employers attract the right candidates for their company and culture at a fraction of the cost of other channels. Glassdoor offers employers job advertising, job posting and employer branding solutions in addition to robust talent analytics. Launched in 2008, Glassdoor has job listings and data for more than 600,000 employers in 190 countries and is available on iOS and Android platforms. For labor market trends and analysis, visit Glassdoor Economic Research. For career advice and job-related news and tips, visit the Glassdoor Blog. Glassdoor® is a registered trademark of Glassdoor, Inc.