News Article | February 21, 2017
The National Museum of the American Sailor Foundation (NMASF) has announced that Captain James A. Lovell, U.S. Navy (retired), who commanded the Apollo 13 manned moon mission, has joined the Foundation’s board of directors. NMASF is working to create the only museum dedicated exclusively to the enlisted sailor. "I am joining the board because it is time to honor the American Sailor. The enlisted sailor does much of the work in the U.S. Navy and is sometimes overlooked,” says Captain Lovell. “It is appropriate that the museum be placed next to Recruit Training Command Great Lakes, which is the only boot camp the Navy has today.” The new 40,000-square-foot museum will be immediately adjacent to the Recruit Training Command where approximately 38,000 men and women each year spend nine weeks of basic training. It will be located within the Sheridan Crossing Cultural, Hospitality and Entertainment District in the City of North Chicago. "Captain Lovell is an American Hero, and we are honored that he has agreed to join our board to make the National Museum of the American Sailor a reality," says Ken Tucker, board president. Lovell commanded Apollo 13--the third lunar landing mission. Two hundred thousand miles from earth an explosion on the spacecraft forced him to bring home the crippled spacecraft and its crew, successfully. Lovell believes that the museum can be used to educate younger citizens about the many benefits of the Navy and incorporate STEM education in real life situations. “The Navy is a good beginning for young people,” says Captain Lovell. “It helps them become confident, responsible, technologically adept, and is an incentive for kids to follow a STEM (Science, Technology Engineering, Mathematics) education. And you can see the world.” Born in Cleveland, Ohio, on March 25, 1928, Captain Lovell grew up captivated by flight. “I grew up in the 1930s, and Charles Lindbergh was my hero,” Captain Lovell recalls. “And my uncle graduated from the Naval Academy and was an early naval aviator who flew in World War I. I’d listen to his stories when he’d visit and was fascinated by his aviation experience.” Lovell joined the Reserve Officer Training Corps (ROTC) at the University of Wisconsin where he was accepted in the Naval Aviation Holloway Plan after graduating high school. He reported for pre-flight training at Pensacola, Florida. He received an appointment to the Naval Academy in 1948 and after graduation, Captain Lovell returned to Pensacola for flight training in September 1952. Upon completion of his flight training, his first assignment was to Moffett Field California. In January 1958 Captain Lovell entered Navy Test Pilot School at Patuxent River Maryland. He finished first in his class and after graduation became the Project Manager for the Navy’s F4H jets. In October 1962, Jim Lovell was selected as one of the second group of astronauts to the National Aeronautic and Space Administration (NASA). During the next eleven years he made four space flights and was back up on three more. On Gemini 7 with Frank Borman they set the world space flight endurance record; participated in the first rendezvous with Gemini 6 and conducted 21 medical experiments. As Commander of Gemini 12, he and Buzz Aldrin perfected spacecraft docking techniques and developed Extra Vehicular Activity (EVA) procedures necessary for the later flights of the Apollo program. Captain Lovell was navigator on the historic Apollo 8 mission - man’s first flight to the moon. He was the first Naval Officer to reach the moon and successfully evaluated the navigation system while looking for suitable landing sites for future missions. His final space flight was Apollo 13. He was the first person to fly to the moon a second time. In 1994, Lovell and Jeff Kluger wrote “Lost Moon”, the story of the courageous mission of Apollo 13. In 1995, the film version of the bestseller, “Apollo 13” was released to rave reviews In total, Captain Lovell saw a total of 269 sunrises in space and logged over 715 hours. He retired from the U.S. Navy in 1973 and spent the next 18 years in private industry, retiring in 1991. He and his wife Marilyn raised four children. To learn more visit http://www.NMASF.org or go to Facebook at https://www.facebook.com/nmasf.
News Article | February 15, 2017
The National Museum of the American Sailor Foundation (NMASF) appointed Captain James A. Lovell, U.S. Navy (retired) and former NASA astronaut, to its board of directors. NMASF is working to create the only museum dedicated exclusively to the enlisted sailor. "I am joining the board because it is time to honor the American Sailor. The enlisted sailor does much of the work in the U.S. Navy and is sometimes overlooked,” says Captain Lovell. “It is appropriate that the museum be placed next to Recruit Training Command Great Lakes, which is the only boot camp the Navy has today.” The new 40,000-square-foot museum will be immediately adjacent to the Recruit Training Command where approximately 38,000 men and women each year spend nine weeks of basic training. It will be located within the Sheridan Crossing Cultural, Hospitality and Entertainment District in the City of North Chicago. "Captain Lovell is an American Hero, and we are honored that he has agreed to join our board to make the National Museum of the American Sailor a reality," says Ken Tucker, board president. Lovell believes that the museum can be used to educate younger citizens about the many benefits of the Navy and incorporate STEM education in real life situations. “The Navy is a good beginning for young people,” says Captain Lovell. “It helps them become confident, responsible, technologically adept, and is an incentive for kids to follow a STEM (Science, Technology Engineering, Mathematics) education. And you can see the world.” Born in Cleveland, Ohio, on March 25, 1928, Captain Lovell grew up captivated by flight. “I grew up in the 1930s, and Charles Lindbergh was my hero,” Captain Lovell recalls. “And my uncle graduated from the Naval Academy and was an early naval aviator who flew in World War I. I’d listen to his stories when he’d visit and was fascinated by his aviation experience.” Lovell joined the Reserve Officer Training Corps (ROTC) at the University of Wisconsin where he was accepted in the Naval Aviation Holloway Plan after graduating high school. He reported for pre-flight training at Pensacola, Florida. He received an appointment to the Naval Academy in 1948 and after graduation, Captain Lovell returned to Pensacola for flight training in September 1952. Upon completion of his flight training, his first assignment was to Moffett Field California. In January 1958 Captain Lovell entered Navy Test Pilot School at Patuxent River Maryland. He finished first in his class and after graduation became the Project Manager for the Navy’s F4H jets. In October 1962, Jim Lovell was selected as one of the second group of astronauts to the National Aeronautic and Space Administration (NASA). During the next eleven years he made four space flights and was back up on three more. On Gemini 7 with Frank Borman they set the world space flight endurance record; participated in the first rendezvous with Gemini 6 and conducted 21 medical experiments. As Commander of Gemini 12, he and Buzz Aldrin perfected spacecraft docking techniques and developed Extra Vehicular Activity (EVA) procedures necessary for the later flights of the Apollo program. Captain Lovell was navigator on the historic Apollo 8 mission - man’s first flight to the moon. He was the first Naval Officer to reach the moon and successfully evaluated the navigation system while looking for suitable landing sites for future missions. Lovell’s last flight was Apollo 13--the third lunar landing mission. He was the first person to fly to the moon a second time. Two hundred thousand miles from earth an explosion on the spacecraft forced him to bring home the crippled spacecraft, successfully. During this crisis he established the absolute altitude record of 148,655 miles. In total, Captain Lovell saw a total of 269 sunrises in space and logged over 715 hours. He retired from the U.S. Navy in 1973 and spent the next 18 years in private industry, retiring in 1991. He and his wife Marilyn raised four children. In 1994, Lovell and Jeff Kluger wrote “Lost Moon”, the story of the courageous mission of Apollo 13. In 1995, the film version of the bestseller, “Apollo 13” was released to rave reviews The National Museum of the American Sailor Foundation is the official 501(c)(3) corporation established to implement development of the Museum. The NMASF will undertake the formal design, fundraising, construction, and ongoing operation of the National Museum of the American Sailor. Upon completion of construction, the NMASF will continue its mission and assist with ongoing operations and where necessary future fundraising initiatives in support of the Museum. To learn more visit http://www.NMASF.org or go to Facebook at https://www.facebook.com/nmasf.
News Article | November 2, 2016
DALLAS, TX--(Marketwired - November 02, 2016) - The Board of Trustees, Faculty, Staff, Students, and Alumni of Parker University are pleased to announce and celebrate the inauguration of their new president, William E. Morgan, DC. As the seventh president of Parker University, Dr. Morgan will begin his term presiding over an expanding roster of both programs and students as Parker University pursues its mission of comprehensive education dedicated to research, service, and education. The inauguration was held at 1:30pm on the Parker University main campus in Dallas, Texas at the Standard Process Student Activity Center on October 7, 2016. General Walter E. Boomer was present as a special guest of the president, who invited him to make a special presentation on his behalf. General Boomer is a retired four-star general and assistant commandant of the United States Marine Corps and a business executive. He led all Marines in Operations Desert Shield and Desert Storm during the Gulf War. He later served as the Chairman and CEO of Rogers Corporation, retiring in 2004. He is the current lead director of Baxter International. General Boomer is a 1960 graduate of Duke University; he later earned a master's degree from American University. In 1998, Dr. Morgan was chosen to establish the first chiropractic clinic at the National Naval Medical Center in Bethesda, Maryland, which later became Walter Reed National Military Medical Center. In 2015, Walter Reed recognized Dr. Morgan with its highest honor for clinical excellence, the Master Clinician's Award. During the last 18 years at the military's most prestigious medical centers, he practiced in an integrative setting providing chiropractic care to the injured troops returning from the wars in Iraq and Afghanistan. In a note to the Parker Board Chair from Admiral Mike Mullen, USN (retired) 17th Chairman of the Joint Chiefs of Staff, he remarks, "I am writing to express my warmest congratulations on your selection of Dr. Bill Morgan as the next president of Parker University. You simply could not have made a better choice. I have known Bill as a matchless student and practitioner of his profession over the past 13 years. He has had an enormous positive impact on thousands of lives. This impact has been that much more significant during over a decade of war where he has innovated and been on the leading edge of chiropractic practice in sometimes overwhelming circumstances. Bill is personable, studied, and dedicated beyond the call. You truly will be blessed in his service and we will miss him immensely here in Bethesda." Dr. Morgan was appointed as the Chiropractic Consultant to the Office of Attending Physician (OAP) at the U.S. Capitol in 2000. At the OAP, doctors of many specialties care for members of Congress and the Supreme Court. Since 2007, Dr. Morgan has served as the Chiropractic Consultant to the White House. He was appointed chiropractor for the United States Naval Academy football team in 2009. Parker University's Chairman of the Board, Oliver "Bud" Smith, Jr. DC, said "The Board of Trustees selected Dr. Morgan based on his depth of experience as a doctor of chiropractic, alongside his continued involvement in almost every aspect of the profession, including but not limited to his ability to integrate chiropractic into mainstream health care," states Dr. Smith. He continues, "Dr. Morgan's comprehensive skill-set will certainly lead Parker University students, faculty and alumni toward a successful future, and we are honored to appoint him as our President." In 1985, Dr. Morgan received his Doctorate of Chiropractic from Palmer College of Chiropractic - West Campus and soon after, married fellow Palmer graduate, Clare Pelkey. They practiced for 13 years in California. He has completed a 2,000 hour fellowship program in Integrated Medicine. Since 2006, Dr. Morgan has served on the Board of Trustees for Palmer College of Chiropractic. He is also a Diplomate of the American Academy of Pain Management and holds adjunct faculty positions at F. Edward Hébert School of Medicine, Uniformed Services University of the Health Sciences and New York Chiropractic College. Additionally, Dr. Morgan has served as a consultant for the U.S. Department of Veterans Affairs (VA), helping to implement the VA's chiropractic benefit and advocate for chiropractic research. In 2011, Dr. Morgan was appointed to the United States Navy Musculoskeletal Continuum of Care Advisory Board -- an entity created to address the prevalent injuries sustained by U.S. Armed Forces Personnel during active-duty operations. Dr. Morgan also served on the Spine Subcommittee, which helps develop care algorithms for treating spinal conditions and determining the future of musculoskeletal management in the U.S. Armed Forces. Dr. Morgan has a long history of serving in military health care. Joining the Navy at 17, he served with an elite Marine Recon company as a hospital corpsman. While in the Navy, he was qualified in parachuting, military diving, submarine insertion, jungle warfare, combat swimming, explosives, mountaineering, winter warfare and Arctic survival. Additionally, he attended anti-terrorist training at the FBI Academy. After leaving active military service and transferring to the Navy Reserves, Dr. Morgan began his educational journey to becoming a doctor of chiropractic. While at Palmer College of Chiropractic, he transferred to a Naval Special Warfare platoon as the unit's primary hospital corpsman. He was sent to Special Operations Technician training to learn the principles of dive medicine. For the next eight years, he served as a dive medicine corpsman/combat swimmer for a platoon of Navy frogmen in Navy Special Warfare Unit One. Excited about his new position, Dr. Morgan states, "Dr. Jim Parker created a chiropractic college in 1982 with a unique spirit, adhering to the rich philosophy, art and emerging science of his profession and with a strong mission. As the new President of Parker University, it is my goal to work toward continuing Dr. Parker's vision for the university, with special emphasis on his passion for education, entrepreneurship, healing, self-actualization and personal responsibility. Dr. Jim Parker's focus on service is epitomized in my favorite Albert Schweitzer quote, 'I don't know what your destiny will be, but one thing I know: The only ones among you who will be really happy are those who will have sought and found how to serve.'" In 2011, Parker achieved University status, paving the way for new health care degree programs that expand students' scope of knowledge and provide additional opportunities for Parker graduates to serve more people around the world. Parker University equips its graduates in health sciences, technology, business, and education communities to establish trends in health care and wellness through its certificate, associates, bachelors, masters, and doctoral degrees. Parker University provides an innovative, learning-centered experience for students through a comprehensive curriculum, highly respected faculty, and family-oriented environment. Dallas-based Parker University, formerly known as Parker College of Chiropractic, is one of the world's leading educators of health care professionals. Founded in 1982, this private, nonprofit, educational institution prepares men and women to become doctors of chiropractic and other leaders in health care-related professions. Parker University offers 12 different degree programs as well as continuing education specializations and certifications. Parker University also includes the Parker Research Institute, which provides sound, scientific evidence supporting health and wellness; two chiropractic wellness clinics in the Dallas-Fort Worth Metroplex; Parker Seminars, the largest chiropractic seminar organization in the world, and Parker SHARE Products that provide innovative, high quality products, and current information on chiropractic wellness. For additional information about Parker University, visit the website at www.parker.edu.
News Article | February 15, 2017
ThinkGenetic, Inc. is pleased to announce the election of two new members to the ThinkGenetic Board of Directors. New board members include Theodore (Ted) T. Pasquarello of Sudbury, Massachusetts and Gary Butter of Short Hills, NJ. Ted is the Founder and Former President and Chief Executive Officer of Chiswick Trading, Inc., and a former Advisor to Guaranty First Bank. He is the Managing Member of Paris Trust LLC and currently serves on the Boards of UV Tech Systems, and Peddock Capital Advisors (a private wealth management firm). Also, Ted is a Governing Trustee at the Dana Farber Cancer Institute, as well as a member of their Science Committee. In addition, Ted is a current member of Boynton Angels, Inc. Gary is a graduate of the United States Naval Academy where he was a classmate of ThinkGenetic co-founder Len Barker. After graduating with a degree in Electrical Engineering, Gary entered the Navy nuclear power program where he served on a fast attack submarine. He remained in the Navy reserves after his five years of active duty and retired from the reserves as a Navy Captain after 24 years of service. After his active duty time Gary attended law school at NYU and then worked for the law firm Baker Botts LLP in Manhattan as a patent attorney for more than 20 years before joining Google as a corporate patent attorney in 2012. “I am pleased to welcome Ted and Gary as new Board members,” said Dave Jacob, CEO of ThinkGenetic, Inc. “These individuals bring a wealth of experience and expertise and will be tremendous assets to our organization as we further our mission of providing reliable information online to those living with genetic conditions.” The ThinkGenetic Board of Directors is comprised of individuals from the medical, business, academic communities. It is the Board’s responsibility to provide counsel and guidance in the direction and operation of the organization as well as raise awareness of ThinkGenetic.
News Article | February 28, 2017
JENKS, Okla.--(BUSINESS WIRE)--Gateway Mortgage Group, a privately held mortgage company offering originations, servicing and correspondent lending, has announced the appointment of Rob Hunt as Chief Administrative Officer. In this role, Rob will have executive oversight of finance and accounting, human resources, information technology, and the legal and compliance teams. After graduating from the US Naval Academy, Mr. Hunt served in the US Navy first as a Naval Aviator and then as an Intelligence Analyst. During that time, he obtained the rank of Lieutenant Commander and was also recognized for his leadership and accomplishments with several medals, including a Navy Commendation medal. During his time in the private sector, Mr. Hunt has successfully built and managed cross-functional teams that focus on delivering brand-defining experiences within the financial services industry for both large and start-up sized companies like Capital One and Heritage Union, LLC. “As Gateway reflects on its growth and success for 2016, it is imperative we maintain a strategic eye on the future and how we accomplish our next set of goals,” said Kevin Stitt, CEO of Gateway Mortgage Group. “This is an exciting time at Gateway and we are thrilled to have Rob join our executive leadership team, his experience and abilities are perfectly aligned with our strategic growth plans.” Gateway ended 2016 with nearly $5 billion in mortgage originations, a loan servicing portfolio in excess of $11 billion, 130+ locations and 1,000 team members nationwide. The company recently expanded its licensing footprint in states like Idaho, Nevada, Washington, Utah, Oregon and Arizona. “It was easy to notice Gateway’s track record, but the company is also driven by a set of core values and a culture that is highly appealing,” said Hunt. “Gateway is in the midst of an exciting period of extended growth, and I am looking forward to working with an accomplished set of senior executives to further the company’s success,” he added. After leaving the Navy, Hunt earned his MBA in Finance at the University of Maryland, College Park. Founded in 2000, Oklahoma-based Gateway Mortgage Group LLC is a complete end-to-end mortgage banking firm that specializes in originations, servicing and correspondent lending. The company services more than $12.0 billion in residential mortgages. For more information about Gateway, visit www.GatewayLoan.com.
News Article | February 15, 2017
Police and other emergency personnel train constantly for big disasters. But when the truly unthinkable happens this may not be enough 22 July 2011: A terrorist attack in the government quarter has crippled Oslo, and reports of shooting on the island of Utøya are coming in. Desperate youths have already started swimming, and many of them are picked up by individuals in small boats. The first police patrol arrives at the Utvika ferry dock opposite the island 44 minutes after the perpetrator landed on the island. The patrol has been ordered to observe, and decides to wait for an emergency squad that they believe to be heading in by helicopter. The police officers only arrive on Utøya 33 minutes later. At least 20 people are killed during the last quarter hour of the massacre on the island. It was the deadliest attack on Norwegian soil after WWII; in the end, 77 people died. Should police have violated the order? Police received sharp criticism in the 22 July Commission report, which came out a year after the terrorist attacks. According to the Commission, the police officers who first arrived at Utvika should have immediately acted on their own, despite the fact that they had been ordered to observe what was happening. "Police were strongly criticized in the report, but according to their existing procedures they actually did everything correctly," says Endre Sjøvold, an associate professor at the Norwegian University of Science and Technology's (NTNU) Department of Industrial Economics and Technology Management. "In retrospect," he says, "we can see that maybe the police should allow their operational units greater autonomy in complex situations like this." Sjøvold has studied team dynamics and group processes for several decades, and over the past three years he has led the Innovative Teams project, which deals with managing operational situations where uncertainty predominates, and where the consequences could be great if something fails. He stresses that he has not studied the police conduct in the 2011 Norway attacks, but those attacks are good examples of issues that the project concerns itself with. One of the results of the project is Norway's - and Europe's - first ICT-based educational program for operational leadership that incorporates the automated collection of interaction data. The program is geared to businesses where crises could have enormous social consequences - such as the Armed Forces and oil and power companies. The initiative's continuing education and training offerings at NTNU are being established in collaboration with the Norwegian Agency for Digital Learning in Higher Education (Norgesuniversitetet), starting in 2017. Sjøvold's research shows that traditional emergency work emphasizes fixed procedures and strong leadership, as is typically exemplified by the police force. People who do not know each other can form an effective crisis team since they know what to do and have their regular roles. The team leader has final authority. "This may involve breaking certain procedures, if they get in the way of solving the task at hand." This kind of emergency team can be trained, enabling each employee to know exactly what he or she will do when a situation arises. Team members follow orders and concentrate on their specific task, which reduces stress. This approach works in most emergency situations - but not when the unthinkable happens, as in the 2011 Norway attacks, when chaos and unpredictability reigned and everything was turned upside down. That's when the rigidity of traditional crisis management needs to be set aside. But how do you get police patrols to break an order or change a procedure and do something completely different than the team leader has instructed them to do? "After 22 July, the police were criticized and the hospital received kudos," Sjøvold said. "But the police had faced a new and quite foreign situation, whereas the hospital was operating under more familiar conditions. Although the scale [of events] was bigger for the hospital, too, procedures were the same. Seen this way, I would say police were criticized a bit unfairly." He points out that as the international security paradigm has evolved in recent years, so have the views on what constitutes effective operational leadership. Traditional practices have focused on safety procedures and regulations on the one hand and teamwork and communication on the other. Despite disagreement about what is most important, it has become evident that neither rules nor communication training alone are sufficient, Sjøvold says. Evaluations of past events indicate that the scale of the disasters could have been reduced if the ability to make decisions locally had been greater. Sjøvold adds that the increased use of advanced technology and virtual communication reinforces the need for more integrated training and flexible protocols. Offshore oil installations and structures that are managed through computer systems by land-based personnel are one example where this is needed. Local decision making can help limit the scale of disasters Evaluations of past events show that the scale of many disasters could have been reduced if local decision-making power had been greater - that is, if the part of the team that was closest to the situation had been involved in a different way. For a response to be effective, team members and leaders need to be able to read the situation correctly and act in accordance with the intent of the assignment. According to Sjøvold, this may involve violating existing procedures, if they are a hindrance to solving the mission. "If we believe that only one type of team dynamics works in all situations, we'll end up with teams that aren't able to solve the most critical tasks," he says. Gulf of Mexico, 20 April 2010: Everything was working as expected on Deepwater Horizon, the drilling rig that had recently been heralded for its safety systems. Suddenly an oil and gas blowout caused a huge explosion and fire on the rig, killing 11 workers. Two days later, the rig sank and triggered the largest oil spill in American history. The subsequent investigation revealed considerable uncertainty around crew authority and roles, although these were clearly defined in the written procedures. Kenneth Stålsett wrote his doctoral dissertation on teams and team dynamics in changing and uncertain settings, as part of NTNU's Innovative Teams project. His doctoral work included a study of the oil industry, where he looked at switching between routine and crisis operations. Stålsett has also conducted several studies on interactions, group dynamics and leadership in the Royal Norwegian Naval Academy operations. Paradoxically, authoritarian leadership with centralized decision making is considered "military," even though the Norwegian Armed Forces introduced decentralized leadership in the early 1990s. So the military's approach, which bases leadership on operational context, is not anything new. Stålsett points out that several other industries, like the oil industry, also practice this form of leadership to some degree, but they tend to revert to a "command and control" management style when a crisis situation arises. "For example," he says, "we find that when the alarm goes off on an oil platform, employees are put under extreme mental and physical stress and instinctively follow what they're trained to do. In that case, it's drill and practice that prevails, and that in turn makes it difficult to adapt to new and changing situations." Stålsett stresses that training in breaking out of routines is also needed for these kinds of operations. "That's when something you've never trained for actually happens, and you have to mobilize the power of all the team members, not just the strong leader. You can't see the leader as an isolated entity. To have a good leader, all the team players need to assist and take on their share of leadership. This is exactly what the special forces and the Naval Academy do so well," he says. A good emergency response team therefore has to be able to change group dynamics when the situation demands it. A team that is just drilled in routines won't develop this capability. "Most of the time we're used to being in groups with strong leaders, so this isn't necessarily easy to unlearn. In some cases it isn't the group leader who has the most influence. Influence sometimes coincides with social patterns rather than a formal title," Stålsett adds. So how does one train for this more distributive leadership approach? It requires a team that works together to dare to ask questions and gives constructive criticism, according to Stålsett. This doesn't just apply to the oil industry and the military. Imagine a regular meeting room with a project group or staff members. It's usually the people who speak the loudest who get their way. "Expertise is highly valued, and as a rule one is expected to go along with the expert in a field. Experts tend to be right, but we can arrive at a better solution when we manage to add nuances. And experts aren't always right either, so we have to be able to challenge each other in an objective manner. Innovative solutions emerge when different areas of knowledge are brought together and combined," says Stålsett. Kenneth Stålsett, Endre Sjøvold and Trond Rikard Olsen (2016) From routine to uncertainty: Leading adaptable teams within integrated operations. Scandinavian Psychologist, 3, e20.
News Article | February 22, 2017
MINNEAPOLIS, MN--(Marketwired - February 22, 2017) - Quadion LLC, d/b/a Minnesota Rubber & Plastics ("MR&P" or the "Company"), a global technology manufacturer of integrated product solutions focused on critical applications in demanding environments, is pleased to announce that Jay Ward has joined the Company as Chief Executive Officer. Ward brings more than 25 years of leadership experience in the diversified industrials market to MR&P. Ward stated, "I'm thrilled to be joining a high performing team that possesses unique technology and serves many growing end-markets. MR&P has a fantastic reputation in its served markets and it is exciting to lead a team that is energized to grow through bringing value added products to our customers." Ward joins MR&P after 18 years of working for Donaldson Company, a $2.4 billion global manufacturer of filtration systems. His most recent role was Senior Vice President, Industrial Products, where he led eight global businesses with P&L responsibility serving end-markets ranging from the electronics industry to power generation and oil & gas. Prior to his role with the Industrial Products division, Ward worked as Senior Vice President for Engine Products, a $1.5 billion division of Donaldson that serves off-road and on-road vehicle markets, including engine manufacturers, aviation and defense customers and a global independent distributor network. Ward also lived in Belgium in the Vice President, Europe/Middle East role where he had full P&L responsibility and directed a team of 3,000+ employees. Other career highlights include working for several manufacturing companies in the chemical, semi-conductor, and industrial markets as well as serving as a Commissioned Officer for the United States Navy after graduating from the United States Naval Academy. As CEO, Ward will leverage his strong technical, international, and commercial skills to advance the company's growth strategy. MR&P is owned by Norwest Equity Partners (NEP), a middle market equity investment firm based in Minneapolis. Andrew Cantwell, NEP Partner and MR&P board member, stated, "We are thrilled to have Jay on board. He is a results-oriented executive who is not only a champion of customer-focused culture but meticulously focused on driving both top and bottom line performance and continuous improvement. He is a trusted, seasoned industrial industry leader with proven success of leading large teams across multiple geographies and a steadfast dedication to optimizing results that bring a company's growth strategies to life." John Hale, MR&P Chairman, stated, "The Board of Managers are pleased to have Jay leading the outstanding team at Minnesota Rubber and guiding the next phase of growth for the Company." Since 1945, MR&P has built a global reputation for its ability to design, develop, compound and engineer materials, components and assemblies for technically demanding applications. Utilizing a unique, materials science approach, MR&P offers full service capabilities and solutions that range from engineering a single mission-critical rubber or plastic component to providing complete contract manufacturing solutions to technically demanding applications. MR&P serves diverse end markets which include medical, automotive, water, industrial, off-road, food and beverage, and fluid management. MR&P employs over 1,300 people in facilities worldwide, including Plymouth and Litchfield, Minnesota; Mason City, Iowa; River Falls, Wisconsin; China, Mexico and Europe. For more information, please visit www.mnrubber.com.
News Article | February 23, 2017
As 2016 came to a close, the hedge fund industry had experienced four straight quarters of net investor withdrawals, constituting the longest period of capital outflows since the 2008 financial crisis. By April 2016, 85% of hedge funds were below their high water marks. Warren Buffet has long mocked the hedge fund industry, citing high fees and mediocre returns. The existing hedge fund business model appears broken. Two former U.S. naval officers think they know why and have devoted themselves to an entrepreneurial venture seeking to revolutionize investment management. The hedge fund industry is a crowded space and the barriers to entry are high. There are two paths to launching a fund – the first is to work in the investment management industry, applying variations of traditional strategies, until one develops the long track record needed to raise capital; the second is to be staked by wealthy individuals in one’s personal network. The former is unlikely to innovate; research shows that insiders tend not to disrupt their industries. The latter requires the perfect storm of brilliance, vision, and connections to money to bring a novel approach or product to fruition. This being the case, it should be no surprise that most startup hedge funds fail. The barriers described do not just prevent entry – they prevent innovation. Matt Sandretto, a former aviator in the U.S. Navy and a Wharton MBA, recognized that artificial intelligence now has prediction capabilities that no team of humans can match. The technology excels in a whole host of tasks that depend on classification and prediction; artificial intelligence (AI) has enabled the development of autonomous vehicles, the prediction of which movies you might like, and the creation of computers that can beat humans in complex games. Using an AI architecture known as deep neural networks, he has created an equities prediction engine that classifies expected stock performance relative to the upcoming month’s median return. These classifications are then used to build a long-short portfolio of equities. The strategy substantially outperformed the S&P 500 in a 15-year out-of-sample backtest. Currently trading with partner capital, early results have been in alignment with these extensive research and development efforts. Mr. Sandretto will be joined by his business partner, Jeffrey Payne, in formally launching this strategy in September 2017 as Greyfeather Capital, LP (http://www.greyfeathercapital.com). Mr. Payne is a former U.S. Navy submarine officer with science degrees from the United States Naval Academy and MIT and an MBA from the Wharton School. Early-stage investment in Greyfeather Capital, LP will be limited to those individuals and institutions that have demonstrated a commitment to innovation. Greyfeather Capital will also launch a secondary line of business, licensing aspects of its prediction technology to investment management firms for risk management and portfolio construction. The addition of cutting-edge AI prediction technology to existing fundamental strategies can produce very exciting results for investment managers and investors alike. The performance gap between firms committed to harnessing AI and those who are not will likely grow in the years ahead.
News Article | November 15, 2016
A map of the National Mall in Washington, DC showing the location of the SIGMA mobile radiation detectors as deployment participants moved around the city(Credit: DARPA) Recently, a geneticist was mysteriously abducted in Washington DC, leading to the US government deploying a small army of detectives to foil a dirty bomb plot. At least, that was the fictional scenario of a DARPA field test that saw a thousand volunteers equipped with smartphone-sized radiation detectors fan out over the National Mall in a radioactive scavenger hunt to test the progress of the agency's SIGMA project, which is tasked with developing technology to combat nuclear terrorism. Nuclear terrorism is one of the top nightmares of security services. Not only is the prospect of a dirty bomb involving radioactive materials dispersed by conventional explosives alarming, but tracking down illegal nuclear materials in an urban setting requires covering far too large an area for fixed sensors. Since 2014, DARPA has been working on how to produce a portable sensor array based on low-cost, high-efficiency, radiation sensors networked by smartphone networks to detect gamma and neutron radiation and evaluate the information in real time According to DARPA, the SIGMA array was first tested in New York and New Jersey using 100 sensors. For the Washington test, 1,000 sensors were carried in backpacks by hundreds of ROTC cadets from the universities in the National Capital Region, midshipmen from the US Naval Academy, and DARPA personnel coordinated by the University of Maryland's National Consortium for the Study of Terrorism and Responses to Terrorism (START). The volunteers were provided with the plot of a scientist kidnapped by masked men and sent on a scavenger hunt to gather clues to save the scientist and foil the terrorists using the detectors. According to the agency, the purpose of the test was to help the SIGMA team to determine how effective the sensors were as mobile network nodes over an area of five square miles (13 km2). The information from the test will be used to refine algorithms for the version of the system expected to be operational by 2018. "The SIGMA system performed very well, and we collected and analyzed a huge amount of streaming data as we watched in real-time as participants covered a large portion of DC," says Vincent Tang, DARPA program manager. "The data collected is already proving invaluable for further development of the system, and we're excited that SIGMA is on track to provide US cities an enhanced layer of defense against radiological and nuclear threats."