Cleveland Foundation invested $111 million in the community this year – Crain’s Cleveland Business
Posted: December 20, 2019 at 6:51 pm
The Cleveland Foundation awarded $111 million in grants this year, a 6.7% increase over 2018, according to a news release.
The foundation's board of directors announced on Friday, Dec. 20, that it had approved $39 million in grants in the fourth quarter of the year. The grants support residents in Cuyahoga, Lake and Geauga counties.
The growth over the prior year was due in part to $60 million from donor-advised grantmaking and supporting organizations. Combined with the remaining $51 million in board-directed grants from the foundation's endowment, the community investment "reflects a long-standing commitment by the foundation and its donors to address the areas of greatest need in our community," according to the release.
"It's humbling to know that the foundation and our donors have yet again surpassed the $100 million mark for the year capping off a decade in which our mission-driven giving returned more than $1 billion back to the Greater Cleveland community," India Pierce Lee, Cleveland Foundation senior vice president for program, said in a prepared statement. "This quarter's funding was focused on residents at all stages of life: from helping our youngest residents both in and out of school, to assisting seniors with safe housing and access to food."
Grants approved in the fourth quarter include the following:
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Cleveland Foundation invested $111 million in the community this year - Crain's Cleveland Business
CNN: Bitcoin was the best investment of the decade – The Next Web
Posted: at 6:51 pm
Major news outlet CNN has touted Bitcoin as the star investment of the decade, eclipsing stocks, bonds, commodities, and (of course) fiat currencies worldwide.
CNN backed its claim with numbers provided by Bank of America Securities, which showed a tiny $1 investment in Bitcoin at the start of 2010 would be worth more than $90,000 today (or, considering its latest price dives, until quite recently).
Still, regardless of its recent performance, Bitcoin dominated more traditional investments. Even though the US stock market is the strongest in the world, $1 in American stocks at the start of the decade would now reportedly be valued at just $3.46.
One dollar invested in a 30-year US treasury bond over the same time period would now be worth $2.08.
Gold, however, was reportedly the top commodity of the 2010s (aside from Bitcoin, of course). A$1 gold investment in 2010 is said to be worth just $1.34, while the same in oil would equate to 74 cents.
CNN listed some terrible investments, too. A dollar in Myanmar currency at the start of the decade would now reportedly be worth a measly 4 tenths of one US cent today.
Thanks to Greeces debt crisis, 100 cents in the Greek equity market would now equate to only seven cents.
While BTCs value indeed went from fractions of a penny to thousands of dollars today, itll surely be hard to defend its title of best investment of the decade.
Now, Bitcoin faces its next test: the 2020s.
This is not investment advice. This is for educational purposes only. Do your own research, damnit. No, really, dont buy Bitcoin because you read this article. Past performance is not indicative of future results. Im not even qualified to tell you that. See what I mean? Do your own research. Please.
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CNN: Bitcoin was the best investment of the decade - The Next Web
Goldman Sachs dumps on Alaska while investing in Russian Arctic oil – Must Read Alaska
Posted: at 6:51 pm
While Goldman Sachs, one of the largest investment enterprises in the world, has caved to radical environmentalists by saying the company wont invest in Alaskas Arctic oil, its investing heavily in oil development in the Russian Arctic.
Goldman Sachs, in fact, is investing in unregulated dirty oil.
[Read: Goldman Sachs redlines Alaska]
The bank is pouring its resources into the independent Irkutsk Oil Company, known as INK. Along with the European Bank for Reconstruction and Development, Goldman Sachs is a minority shareholder in INK, which operates the Yarakta oil field in Irkutsk, as well as in Republic of Sakha (Yakutia) in Siberia.
In Russia, environmental laws are merely suggestions. There is little enforcement and the industry is notorious for leaks, spills, and contamination, especially in far-flung Siberia. Corruption is just a cost of doing business in Russia, and Goldman Sachs is a party to that system of doing business, and the U.S. government cant do a thing about it.
INK is not subject to the U.S. sectoral sanctions that apply to Russias biggest energy firms and which place restrictions on the type of financing they can attract from Western creditors. INKs minority shareholders include Goldman Sachs and the European Bank for Reconstruction and Development (EBRD), according to a report from Reuters in April.
[Read: Upstart Russian oil company with Goldman Sachs backing]
Goldman Sachs Internationalhas a 3.75 percent stake in INK, which works in both the Irkutsk region and the Republic of Sakha (Yakutia) in eastern Siberia.
INK told Reuters that it plans to invest $3-4 billion into the Arctic oil field over the next three years, and develop more of its gas business with four new processing plants.
Building up the Russian oil industry while taking a pass on Alaskas Arctic is just another calculation on profitability for Goldman Sachs. But its decisions, profitable as they may be, have global consequences, both environmentally and geopolitically.
Earlier this year, when Irans oil was cut off from Syria by the impounding of an Iranian tanker, the war-torn country looked to Russia for help.
Analysts predicted the move would make Syrian President Bashar al-Assad even more dependent on Moscow and less able to withstand Russian demands. Russian oil, then, makes Russia more influential in that war-torn region of the Middle East.
The Kremlin has sought to wield the main influence over Syria and reap geo-strategic and business benefits from its military intervention in the eight-year Syrian war and its propping up of the Assad government, according to Voice of America.
[Read: Goldman Sachs-backed Russian oil firm plans expansion]
Goldman Sachs has a history of making deals with some of the worlds biggest polluters and baddest political actors. People like Moammar Qaddafi in Libya.
[Read: Hot Mess: How Goldman Sachs lost $1.2 billion of Libyas money]
According to Goldman Sachs oil analyst Michele Della Vigna, theres still money to be made in Big Oil. In our view, the first wave of final investment decisions will likely take the form of brownfield developments with quicker payback, particularly in West Africa, the Gulf of Mexico and the North Sea. We should see a strong recovery in the number of projects in 2019 and 2020, led by Big Oils deepwater and liquefied natural gas investments. We expect roughly $120bn in LNG projects during those two years as the industry catches up with the production gap resulting from four years of low investments and strong underlying demand, she said, in a Goldman Sachs publication.
In other words, the company is still investing in oil. But its investing in other countries, where regimes are corrupt and environmental organizations dont have influence.
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Ford to invest $1.45 billion in 2 metro Detroit plants, add 3,000 jobs – Detroit Free Press
Posted: at 6:51 pm
Staff and wire reports Published 12:16 p.m. ET Dec. 17, 2019 | Updated 5:13 p.m. ET Dec. 17, 2019
Ford Motor Company's Michigan Assembly Plant in Wayne in October 2013.(Photo: Kathleen Galligan, Detroit Free Press)
Ford Motor Co. is adding 3,000 jobs at two factories in metro Detroit and investing $1.45 billion to build new pickups, SUVs, and electric and autonomous vehicles, bringing into clearer focus the$6 billion in investments promised in its new contract with the UAW.
The promised investment at the two plantscomes with more than $35 million in tax incentives, most of which is related toa 10-year income tax capture valued atup to $26 million. The company's commitment, according to the Michigan Economic Development Corp.,is to create ormaintain at least 3,000 jobs with an average annual wage equal to or greater than$61,047, which is theregional average.
The company said Tuesday that about $750 million will go the Michigan Assembly Plant in Wayne, where 2,700 jobs will be added during the next three years.
Another $700 million will be invested in the truck plant in Dearborn,where 300 new jobs will be added.
Hiring will begin next year.
In its new deal with the UAW, negotiated this fall, the company has committed to adding or retaining 8,500 jobswith investments at 19 U.S. facilities.
Joe Hinrichs, Fords president of Automotive, touted the local Michigan investment while highlighting the bets the company is making on its present and future.
At Ford, we are investing aggressively in building on our strengths today including trucks and SUVs while at the same time expanding our leadership into electric and autonomous vehicles, Hinrichs said in a news release.
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The investment comes as the U.S. new vehicle sales cycle has peaked and appears to be leveling off at around 17 million vehicles per year.
Ford's third-quarter 2019 sales were down 4.9%, from 609,934 vehicles to 580,251, compared to the same quarter a year ago, with drops in car sales but increases in trucks and the Lincoln brand. But this comes asFord has been shifting its production away from cars to focus on more profitable trucks and SUVs.
Ford needs to invest in new products in an effort to increase market share and prepare for a shift to new propulsion and autonomous vehicle technologies.
The Wayne plant investment will used to build the new Ford Bronco SUV, as well as a new Ranger pickup. Investment at the plant also will result in a new center to modify and support autonomous and other vehicles.
The plant is expected to get a total investment of $1.1 billion over the four-year life of the contract, which would include addingstampingsfor anew Mustang.
Ford says the Dearborn plant will get the next generation of the F-150, as well as hybrid and electric versions of the truck. The investment includes battery assembly for the electric trucks.
Plant workers work are at work on the brand new 2015 F-150 at the Dearborn Truck Plant Tuesday, Nov. 11, 2014.(Photo: Regina H. Boone, Detroit Free Press)
The F-150 is the top-selling vehicle in the U.S. and is Fords franchise, generating most of the companys profits.
Workers at the Wayne plant will modify and finish Fords first autonomous vehicles starting in 2021, including the installation of self-driving technology and interiors built for autonomous travel, Ford said in a statement. The truck plant in Dearborn will build the new trucks as well as assemble battery cells into full packs for the hybrid and electric F-150s.
This article is from Free Press reporter Eric D. Lawrence and the Associated Press.
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Wait Industries to invest $3 million in Elkhart plant – The Elkhart Truth
Posted: at 6:51 pm
ELKHART Granger-based investment company Wait Industries LLC announced on Thursday plans to invest $3 million in its Elkhart plant.
The company will purchase $1 million worth of equipment, including the addition of a tube laser, CNC tube bending, robotic welding and upgraded power coasting capabilities.
The rest will be used to purchase the nearly 100,000-square-foot manufacturing facility to allow for the opportunity to make the building the way the company wants, according to Doug Wait, president of Wait Industries.
Wait Industries owns Voyager and M-3 and Associates, which both operate under the same facility at 2500 Ada Drive in Elkhart.
Founded in 1987, M-3 produces trailer ramp spring assist lift systems and pioneered the use of dual-spring systems. The company also distributes components and parts to the enclosed trailer and recreational vehicle markets, as well as HVAC, steel and aluminum pieces and other custom metal products.
Voyager was founded more than 40 years ago and specializes in high-quality steel fabrication. The company provides parts for many sectors, including medical, RV, automotive and furniture while serving clients nationwide. Voyager also has expertise in laser cutting, welding, metal forming, stamping and powder coating.
This investment will allow us to serve our existing customers with a more consistent and higher quality process and it improves our cost and should give us the capability to reduce our cost for our existing customers, Wait said.
The investment will be completed within six months.
The plant will still operate as new equipment is brought in, Wait said.
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The Hartford Announces Its Policy On Insuring, Investing In Coal, Tar Sands – Business Wire
Posted: at 6:51 pm
HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford announced its policy on insuring and investing in coal and tar sands. The company will no longer insure or invest in companies that generate more than 25 percent of their revenues from thermal coal mining or more than 25 percent of their energy production from coal. In addition, the company will also stop insuring and investing in companies that generate more than 25 percent of their revenues directly from the extraction of oil from tar sands.
The world needs affordable, accessible energy to support global economic progress and, at the same time, action is needed to mitigate the impact such activity has on our climate, said The Hartfords Chairman and CEO Christopher Swift. Extreme weather affects peoples lives and businesses and the risks are getting worse. As an insurer and asset manager we recognize the growing cost of this crisis, and were determined to use our resources and influence to address the challenge. Thats why we have taken a position on coal and tar sands.
The policy parameters include:
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at @TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartfords legal notice.
HIG-C
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2018 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The Hartford may use its website and/or social media outlets, such as Twitter and Facebook, to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com, Twitter account at http://www.twitter.com/TheHartford_PR and Facebook at https://facebook.com/thehartford. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the Email Alerts section at https://ir.thehartford.com.
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The Hartford Announces Its Policy On Insuring, Investing In Coal, Tar Sands - Business Wire
There’s a Super-Secret Conference Dedicated to Investing Legend Jack Bogle. Here’s What It’s Like on the Inside – Yahoo Finance
Posted: at 6:51 pm
For a few windy days in early October, I was one of 200 people who dropped off the map. I told my friends and family I was going to Philadelphia the terms of my registration prohibited me from telling them where, exactly and disabled my phones location services. It was here, at an ultra-exclusive three-day meeting organized by a Marine veteran, where we discussed an issue of obsessive importance to all assembled: low-cost index mutual funds.
These conference-goers werent the high-rolling stock market fanatics you see in movies, staking their fortunes on one big bet and agonizing over short-term market misfortune. Instead, these were mom and pop investors drivers ed instructors, doctors and web developers by day who embrace long-term commitments to broad, boring investments. Known as the Bogleheads, these investors follow the teachings of John Bogle, who founded the pioneering investment firm Vanguard in 1975. I had joined them to learn about passive index fund investing, a strategy far removed from the glitz and glamor of picking individual stocks but one that research says works.
Bogle is widely regarded as the father of index investing, a strategy that functions best when investors sit on their hands for decades. The investments the Bogleheads choose, low-cost index mutual funds and exchange-traded funds (ETFs), are designed to mimic stock or bond markets, not beat them. Bogleheads core belief stay the course is so essential to their investment strategy that mentioning it while booking your hotel room for the Boglehead Conference unlocked a discounted nightly rate.
For this group of zealous investors, the promise of spending three days with kindred spirits was well worth the $325 cost and the scramble to snag one of just 200 spots that sold out in less than a day. While talk about Schwab and Vanguards most compelling offerings might make friends and family tune out, the Bogleheads had a captive and eager audience in each other.
The best part is that no one rolls their eyes, says Paul James, a former PR professional who traveled from his home in Orlando to attend the conference. Theres a reason this meeting of investors sells out every year: the annual conference is a chance to match faces to message board usernames and discuss (or commiserate about) the market in person. The Bogleheads Conferences have been operating for nearly two decades, having grown out of an online community once called the Vanguard Diehards. Now based on the Bogleheads.org forums, the community is a place where investors can ask questions and share advice about everything from 401(k)s to health insurance.
Some of the events exclusivity and security can be explained by the groups former frequent guest of honor: Jack Bogle himself. The champion of the average investor attended almost every annual Bogleheads meet-up, says Mel Lindauer, president of the John C. Bogle Foundation for Financial Literacy and the events organizer. A Marine veteran, Lindauer knows a thing or two about security hence the vague directions and GPS precaution.
In 2019, the security measures were still in place, even if, as Lindauer puts it, this is the first year we know, in advance, that Bogle wont attend. He died in January, and in place of his traditional Thursday morning fireside chat, this years panels kicked off with a celebration of the Vanguard founders life as shared by two of his daughters and a group of former assistants.
While Bogles absence marked a notable shift from previous conferences, it didnt stop attendees from traveling to Philadelphia from as far away as Germany to attend panels that touched upon everything from behavioral finance to ESG indexes, or so-called Environmental, Social, and Governance investments focused on social responsibility or sustainability neither of which I had ever given much thought to, personally.
At a conference of expert investors, I was a complete beginner which, as it turns out, wasnt as much of a problem as Id anticipated. While the folks who attend the conference year after year have an enviable grasp of investment knowledge, they didnt look down on me for asking how to get started. In fact, they were happy to share some tips to get me on the right track. Here are the Bogleheads key tips for beginners:
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Sure, you want to make the best moves you can with your money. But dont get overwhelmed with your options and let decision paralysis keep you from saving now. While its important to have a well-researched plan for the long haul, you should at least be contributing to your 401(k). Why? The magic of compound interest, that property that Albert Einstein called the eighth wonder of the world, where your money grows that much faster because you keep earning interest on your interest. To illustrate their strategy, attendees often stressed that a person who starts investing small amounts in their early 20s will be better off than someone who starts later and invests larger amounts later to catch up.
If you thought investing was about picking individual stocks, well, youre not necessarily wrong. Thats one approach, and theres a certain drama to taking a big gamble on a small stock or watching the market fluctuate throughout the day. But for the Bogleheads, the best way to play is through passively-managed index funds like those pioneered by Vanguard. That way, while your investment will rise and fall with the market, youre not a victim to any particular companys misfortune.
Investing in passively-managed funds is a core Boglehead tenet and research shows the strategy is a sound one. The majority of actively-managed funds have underperformed the stock market for nearly a decade, CNBC reports, citing the annual S&P Dow Jones Indices report. In other words, trying to pick winners doesnt work; simply riding out the markets ups and downs does.
Yes, you can check in on your investments throughout the day to see how theyre doing but does that do you any good? If you ask the Bogleheads, the answer is no.
At the 2019 Bogleheads Conference, a common question among attendees was do you peek? That is, do you check in on your investments, even though you intend to leave them alone for years to come?
While various Bogleheads do cop to peeking every so often, a few times a year they know they shouldnt react to market fluctuations. The key is, as one attendee mentioned to me, to set it and forget it that is, once you know what youre investing in, leave it alone, let the market do its thing and try not to worry.
As someone who already feels like I have a lot to worry about, this was music to my ears. When I got home from the conference, I did peek, just once, to make sure my 401(k) contribution was sufficient and invested in a broad index fund. Satisfied with what I saw, I logged out and havent been back since.
5G is coming. Here’s one way to invest in the telecom boom – CNN
Posted: at 6:51 pm
The Defiance Next Gen Connectivity ETF (FIVG) ticker symbol FIVG launched earlier this year. The fund is a passive index fund that is based on the BlueStar 5G Communications Index. That means that there aren't managers actively picking stocks, per se.
But BlueStar will use several quantitative and qualitative rules to select which stocks make the index, says Paul Dellaquila, president of Defiance ETFs. So an element of stock picking will exist.
Dellaquila said that BlueStar is looking for telecom equipment companies, service providers and chip manufacturers that all have significant amounts of their businesses tied to 5G.
Dellaquila explained to CNN Business that the idea for a 5G fund came about when Standard & Poor's shook up its sector classifications last year.
"Many institutional clients didn't like this," Dellaquila said. "They were already overweight the FAANG stocks and wanted a pure telecom fund. There also was an overwhelming interest in 5G."
So the content companies are not in the new 5G ETF even though many of them will benefit from the wider rollout of faster 5G networks.
Increased 5G adoption is clearly a bigger deal for the service providers and the legion of tower, chip and equipment companies that make the infrastructure that is the backbone of these advanced high-speed networks.
The deployment of 5G is helping companies like Ciena, a networking equipment firm that is part of the ETF. Ciena reported a strong 2020 earnings outlook earlier this month, news that sent its stock surging.
Smith added that companies like Ciena are also benefiting from the 5G boom because many telecom customers have concerns about being too dependent on buying equipment from China. Smith said those fears started even before the US ban on equipment from leading telecom firm Huawei.
Still, even though 5G is expected to be a big trend in 2020 and beyond, the fund has actually lagged the broader market since it began trading in March. It's up less than 5%, compared to a more-than 15% jump in the S&P 500 during the same time frame.
But Dellaquila, whose firm also has specialty ETFs catering to sustainable food trends, esports and quantum computing, isn't too concerned yet. He said that many of the tech companies in the fund were hurt by concerns about tariffs from China but that many of those worries may now subside following the Phase One trade deal.
"Chip stocks and network equipment providers definitely got caught up in China trade talk concerns," Dellaquila said. "But the future looks much brighter as these companies will benefit from the future global rollout of 5G."
He added that there has been strong interest in the ETF so far, even though it has underperformed. Dellaquila said it launched with about $2.5 million in assets under management and now has nearly $135 million.
Some dynamic companies currently not in the ETF could be eventually added when the fund rebalances, which it does every June and September, Dellaquila said.
"Samsung is not in the ETF. We would love to have them in the portfolio but it would be way too expensive," Dellaquila said.
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5G is coming. Here's one way to invest in the telecom boom - CNN
Best investments for 2020 and the next decade, according to a top U.S. financial adviser – MarketWatch
Posted: at 6:51 pm
Markets enter a new week clinging to hopes that a Phase 1 trade deal between the U.S. and China will hold together.
Analysts note that some sticking points and questions surround the tentative trade agreement, and cautious optimism seems the byword for Monday as stock futures creep higher.
Its been a pretty rewarding year for many investors, and no one wants that derailed at the last minute by trade hiccups. Double-digit percentage gains for stock markets arent just limited to the U.S., with Europe and parts of emerging and Asian markets also having enjoyed a solid year.
Think international going forward, says our call of the day from Raj Sharma, a private wealth adviser at Merrill Private Wealth Management. Hes been on Barrons list of Americas Top Financial Advisors for 16 straight years through to 2019, and can also be found on Forbess 2019 Top 100 U.S. Wealth Advisors.
The emerging consumer is a very durable investment theme, says Sharma, who notes that the developed worlds population is shrinking and getting older, but emerging markets hold huge opportunity given the vast numbers of younger people.
He points out that India has over 1.2 billion people and 65% of the nation is under 35 years old. Investors can do well in these markets by figuring out what those consumers need to improve their lifestyles, and the items they will buy, such as billions of cars, he says.
To do well consistently over time you have to be a bit contrarian in the way you look at things. If you always follow the hard dot, youre likely to be disappointed, Sharma says, noting that international stocks and emerging markets are selling at over a 30% discount to the U.S.
The Dow DJIA, +0.28% , S&P SPX, +0.49% and Nasdaq Composite COMP, +0.42%, while European stocks SXXP, +0.80% have surged and Asian markets ADOW, -0.26% had a mixed day. The dollar DXY, +0.31% is weak and the British pound GBPUSD, -0.0692% is up after last weeks victory for the Conservative Party.
Our chart from Jeff Desjardins, editor of the Visual Capitalist blog, shows the S&P 500 SPX, +0.49% over the past 30 years, using data from Macrotrends. If you invested $100 in the U.S. market on November 26, 1990, you would have over $1,000 today, he notes.
Shares of PG&E PCG, +0.64% are down over 20% as Gov. Gavin Newsom of California demands changes to the utilitys plan to pay wildfire victims and exit bankruptcy.
Food flavoring group International Flavors & Fragrances IFF, -0.44% is merging with conglomerate DuPonts DD, -0.63% nutrition unit in a $26.2 billion deal.
Boeing shares BA, -1.65% are down after the Wall Street Journal reported that the aircraft maker may stop or further cut production of the 737 Max, involved in two fatal crashes. A Boeing spokesman told the Journal that the company is working with regulators on the planes safe return to service.
Im absolutely confident that for two years if every nation on earth was run by women, you would see a significant improvement across the board on just about everything ... living standards and outcomes. Barack Obama, the former U.S. president, speaking in Singapore.
A busy data week kicks off with the Empire State Manufacturing index in the New York region, which came in below expectations. The Markit manufacturing and services purchasing managers indexes and a home builders index are still to come. (Data preview.)
Hallmark Channel to reinstate same-sex-wedding commercials after boycott threats
Disgraced Hollywood producer Harvey Weinstein says women should be thanking him
Another big winter storm is sweeping across the U.S.
This photo of two mice fighting on the London Underground is everything
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Best investments for 2020 and the next decade, according to a top U.S. financial adviser - MarketWatch
Fascinating, innovative, collaborative: Top Ten Moments of the Utah Enlightenment for 2019 – The Utah Review
Posted: at 6:50 pm
Since The Utah Review started publishing in 2014, the emphasis on the Utah Enlightenment has dominated the coverage of what is new and original in the arts and culture landscape locally. Utahs natural beauty always has appealed strongly as a branding asset. But, as we have covered the arts and cultural scene, there is no question that when it comes to arts and culture, Utah has many strengths and on a per capita basis, the evidence confirms that the Salt Lake City metropolitan area is punching well above its weight (population) class.
Heading into 2020, several general characteristics can be identified with the Utah Enlightenment:
The Utah Enlightenment also lost a titan this year, when playwright Eric Samuelsen died in September at the age of 63 after a long illness. As The Utah Review noted in a tribute published earlier, he epitomized and clarified how this spiritually abstracted movement of creative expression arising from Utahs unique sense of place and meaning could be defined. Samuelsen did more than create extraordinary plays for the purpose of art for arts sake. His plays elevated the contemporary experience with the sum of its tensions, problems, conflicts, disappointments and crises to an enthralling sensation of healing and empowerment.
The following are the top 10 moments of the Utah Enlightenment for 2019, as presented in no particular order.
One of the strongest performing arts collaborations of the year occurred last winter with theRirie-Woodbury Dance Company, theFlying Bobcat Theatrical Laboratoryand the Red Fred Project in a work that evoked a vibrant, colorful, innocent, joyful, poignant and glistening landscape. For the Red Fred Projects young authors and their curator Dallas Graham,the live creature and ethereal thingsconcert was like an animated film made full in flesh and character. It heightened the senses evoked in the stories created by their young authors, who have rare diseases and chronic illness and who are mentored by Graham. The young authors creative voices are naturally poetic, full of innocence and vivid imagination. On stage, the six dancers were transformed into the bird characters of the Jolly Troop, joined by Robert Scott Smith, the narrator, who asked the audience if you could tell the world story, what would it be. Smith and Alexandra Harbold from Flying Bobcast guided the theatrical contributions to the production. The transformation was complete with the delightful costumes created by Jared Gold that accentuated dancers pitch-perfect character movement and the musical score by John Paul Hayward. A reenvisioned version of this shimmering world of fantasy and innocence will be presented in Allegory, Ririe-Woodburys winter season concert (Jan. 31-Feb. 1).
Julie Jensen is the most frequently produced playwright from Utah with her work being presented not just in the state but also nationally and internationally. For its season-opening production,Pygmalion Theatre Companypresented JensensTwo-Headed, directed by Fran Pruyn.
Written two decades ago, with previous productions in Utah as well as in other locations including New York City and the U.K., the play opens on the day in 1857 when the Mountain Meadows Massacre occurred. A decade after Mormons arrived in the Salt Lake Valley, a wagon train of 127 immigrants from Missouri and Arkansas were slaughtered in southern Utah by Mormon zealots. Seven were spared: all children. The specific reference to time anchors the play, as four decades pass through each scene and the memory of that horrific event is permanently etched in the minds of both characters, Lavinia and Hettie, who are 10 years old at the start of the play.
The production was stellar in every aspect and it communicated the poetic streams of Jensens writing to maximal effect. Most importantly, Haley McCormick Jenkins as Hettie and Brenda Hattingh as Lavinia delivered dynamite performances, particularly in their subtle mannerisms that evolve as they move from the ages of 10 to 50 in 75 minutes.
Plan-B Theatresefforts in inclusion and diversity establish an undeniable position as leader in the artistic community. Two of this years top 10 moments come from this extraordinary small theater company. The first comes from Olivia Custodios short play Drivers License, Please, that premiered last season as part of Of Color, featuring four short works by playwrights of color. A writer with natural comedic gifts, Custodio delivered the productions most audacious, ribald moments, riffing handily off the classically unpleasant experience of renting a car, the setup for a scene as women get justice for the wholly obnoxious behavior of a chauvinist male. Likewise, her short play Bombastic Blue with three characters in an underground shelter after a nuclear bomb attack brought roars of laughter in late August at the 8thannualRose Exposed!show.
The second moment from Plan-B comes from this seasons stupendous world premiereof Camille WashingtonsOda Might. The play, with superb examples of subtle foreshadowing, commanded absolute attention from the audience. The simplest description is that Oda Might is about two black women sitting and chatting at a table in a therapy session at a mental health institution in New York City. But, listen closely. The session starts conventionally enough, reflecting the sensitive, careful research the playwright conducted to fortify the credibility of a superbly crafted narrative. There are subtle ripples throughout the play that shake our expectations about the charactersa brief moment of nonverbal frustration in reaction to a spoken line, eye contact or a raised eyebrow reacting to an unexpected utterance, the growing sense that a puzzle is nearly completed but still missing the most critical piece or two.
WashingtonsOda Mightconfronts and takes command over the consequences of sadly familiar, condescending displays of casually tolerant inclusionary rhetoric and stereotypes that have engendered more negative than positive impact. The characters negotiate the narrative through the frequent intersections of contemporary culture, entrenched racism and black womanhood.
It is important to reiterate a point The Utah Review made earlier this year about Plan-Bs Of Color: For a critic who sees the creation of art, in its broadest terms, as framing difficult questions that pull us out of our comfort zones, creative expression that is fearless in taking risks becomes the most meaningful to consider. In Utah, we put a premium on civility, politeness and gentility that tacitly signals restraint and not just among conservatives but also many others of different sociopolitical stripes.
Likewise, Salt Lake Acting Company (SLAC) has advanced significantly the goal of inclusion and diversity. This season saw the premiere of Charly Evon Simpsons Form of a Girl Unknown, an outstanding work Tapped for a top 10 moment this year is SLACs production Will SnidersDeath of a Driver, with riveting performances by Patrick J. Ssenjovu and Cassandra Stokes-Wylie and directed by Alexandra Harbold.
Ssenjovu, a native Ugandan, was electrifying in his unquestionably credible portrayal of Kennedy. Stokes-Wylie equally was just as authentic in her role. The acting chemistry in this magnificent chamber theater piece was superlative.
Another top 10 moment came with the remarkableSackerson theater companys productionABrief Waltz in a Little Room: 23 Short Plays about Walter Eyer. This play opened in the late summer and continues through December with sold-out performances.
As The Utah Review stated in its review, the play is one of the most incisive renderings of the consequential meanings and impact of a sense of place in Utah. In breaking from practically every standard logistic of theatrical convention,A Brief Waltzpresents the unorthodox opportunity frankly, brilliant beyond expectation to transform what has been destructively judged as and perceived to be a moral failure into an emancipating expression of self.
However, the most extraordinary part of this experience is that each individual is immersed and, in fact, steps into the realm of becoming Walter Eyer, a forty-something Mormon man of familiar circumstances and conventional means but also who is embroiled in his own identity crisis.
The audience, limited to just 10 members for specific reasons that gives the performance its full spectrum of emotional impact, is introduced to Eyer (Robert Scott Smith) at the beginning with a short film projected on a wall in the back of theUrban Arts Galleryof the Utah Arts Alliance atThe Gateway, the shows venue. The audience convenes together in only three brief instances: the opening, the entracte and the conclusion.
Playwrights Morag Shepherd, Matthew Ivan Bennett and Shawn Francis Saunders wrote the 23 scenes. Its a dance that all of us might engage in, at one time or another, particularly when a consequential event or life decision faces us.A Brief Waltzopens a door for each of us to confront the collisions of superficially bright surfaces and dangerous undercurrents in our own lives.
Sackerson excels at innovation. Having secured support from the Utah Division of Arts and Museums and the Salt Lake City Arts Council, the company will hold its inaugural Micro Immersive Theatre/Experience Festival in June.
Age, indeed, is just a number for the Repertory Dance Theatre (RDT). Now in its 54th season, the nations oldest repertory dance company is as revolutionary as ever. RDT and Ririe-Woodbury enjoy international reputations and connections par excellence.
RDTs dance artists has delved quite successfully in the Gaga movement language, a specialty developed prominently by many Israeli-born choreographers. Danielle Agami, an Israeli native who directs theate9 dance companythat she founded in Los Angeles, has adapted the intense physical demands of Gaga movement as an effective story-telling device for dance. Agami returned last season to restage Theatre, a 2016 work.
In its restaged form,Theatresizzled and dazzled, as the dancers relished Agamis new take on the work. As The Utah Review noted in its review: In the intervening three years, one senses how both choreographer and the ensemble have matured to make the latest interaction ever more meaningful and confident. Gaga is not a choreographic style but it reorients the dancers to push themselves to new levels of stamina and physical possibilities all while truly enjoying themselves. Theatrebubbled with clear portrayals of the characters who happen to be RDT dancers. Like Plan-B, RDTs leadership in the mission of inclusion and diversity has been revolutionary.
For a moment it appeared that the Red Desert ensemble, the duo project of clarinetistKatie Porterand composer/percussionistDevin Maxwell, was set to leave Utah for other venues to continue its pioneering efforts in showcasing contemporary music. Porter and Maxwell emphasize how new music actually is accessible and approachable and offers as compelling and enriching a listening experience as any other music. The duo, however, are still in Utah, thanks to an artistic residency at Westminster Colleges school of music.
Last spring, at a concert at the Utah Museum of Fine Arts, Red Desert presented a glorious jam session featuring the musical village possibilities in Salt Lake City. Porter and Maxwell gathered an assemblage of local musicians gathered for a performance of Terry Rileys In C masterpiece. As previously mentioned in The Utah Review, the work is the global villages first ritual symphonic piece, as described by critic Janet Rotter. This Red Desert performance emanated with that precise spirit.
Salt Lake City has gained a unique reputation for one of Rileys most well-known compositions. In Cis based on a concept with stunningly deceptive simplicity. Each performer works from sheet music with the same set of 53 short musical phrases that range anywhere from a half-beat to 32 beats. As with any traditional musical composition, each performer begins on the first phrase repeating it an undetermined number of times before moving on to the second phrase and so on. The work has been rendered marvelously on a combination of electronically synthesized sounds and tones accompanied by electric and acoustic instruments, especially in a highly esteemed recording by the Salt Lake Electric Ensemble.
The Red Desert performance grounded the works sprawling soundscape with a cavalcade of acoustic touches. More importantly, it underscores the adventurous spirit that highlights Red Deserts educational and performing efforts this season. In the upcoming spring, the duo will premiere works that they have commissioned from various composers.
Last spring, just ahead of the Utah Pride Parade and Festival in downtown Salt Lake City, the inauguralQueer Spectra Arts Festivalwas held. Artists and speakers addressed the impetus and inspirations for the queer creative aesthetic or, as one organizer described, the chicken-or-egg question of which comes first when queer artists create. At a closing performance in the evening, featuring works by local and national artists, it was a good glimpse into the multifaceted nature of the queer aesthetic. The point was clear: there is no one stylistic definition for how queer artists and performers express their desires, presence or empowerment. The boundaries of their visibility can overlap into the larger mainstream or remain exclusive in a niche where perhaps an audience or community might appreciate the outcome more sincerely or genuinely than others.
One of the most memorable examples wasA Politics of Desire, a literary performance by Alborz Ghandehari. He weaved aspects of desire and longing from various dimensions of his personal narrative based in Iranian roots: the revolution 40 years ago that brought about the Islamic Republic, his sexual yearnings, the experience of an immigrant now living in the West, regrouping from a loss of national identity and the pains of war and conflict. Ghandeharis gift was an elegant synthesis, which flowed so seamlessly that one truly could be awed by how within such a terse, concise frame he developed so many rich narrative textures..
Rounding out the list for 2019 Top 10 moments of the Utah Enlightenment is the Utah Museum of Fine Arts fascinating exhibition titledPower Couples: The Pendant Format in Artthat closed earlier this month. Curated by Leslie Anderson, who now is the director of collections, exhibitions and programs at the National Nordic Museum in Seattle, Power Couples featured 60 works representing 36 pairs, including several new acquisitions and a handful of works borrowed from other museums. Many of the works come from the UMFAs existing collections of European, American and regional art and 28 had not been seen since the UMFA reopened two years ago after major renovations were completed.
The concept of pendants for the exhibition was ingenious, as Anderson not only curated it to exemplify the representation of gender roles and social status but also to highlight arts potential intellectual, philosophical and story-telling powers. As mentioned in The Utah Review earlier, Power Couples was a first-class example of how museums can sharpen the relevant connections to contemporary audiences. Andersons innovative approach invites exhibition visitors to a fluid, expansive conversation that dramatically shortens the distance between the past and the present. The pendants inPower Couplesoffer a mirror, allowing us to see the extraordinary history encompassed in this exhibition and connect it to our own complexities and in our own relationships. Anderson curated the exhibition so that contemplating the emotional and spiritual paradoxes, as they are displayed, is less intimidating and more accessible. The historical background and contemporary contexts are clarifying, invigorating and enlightening.
The exhibition underscored a thrilling year for UMFA, including the current showing of four masterpieces on loan from the Smithsonian and Art Bridges collections.
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Fascinating, innovative, collaborative: Top Ten Moments of the Utah Enlightenment for 2019 - The Utah Review