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How ballerinas customize their pointe shoes

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Olivia Boisson is a corps de ballet member with New York City Ballet. Boisson has been with NYC Ballet for seven years. As a corps member, Boisson dances 10-12 hours a day, six days a week. She took a break from her busy schedule to show us how she customizes her pointe shoes for performances. Following is a transcript of the video.

Olivia Boisson: Hi, I'm Olivia Boisson. I'm a corps de ballet member with the New York City Ballet. Every dancer is trying to make their pointe shoe a part of them, so they wanna mold it to their foot as much as possible. So there's a lot involved to make that happen. It's really important, because we have them on from 10:00 a.m., to 11:00 p.m., so you wanna make sure that there's nothing bothering you. So you fix them and fix them until they're right.

If I'm performing and rehearsing a lot, it could be up to three pairs a day. They aren't very strong when you're working with them all day. So, they typically do die pretty fast. Regular ballet flats are just, very soft. They're usually canvas, or leather. You can't go up en pointe with them. Pointe shoes are normally a bit harder so that you can get up on your toes. And men typically wear the ballet flats, and women normally wear them to warm up, but not always. Pointe shoes are around $80 to $90 a pair. At least that's how much they were when I was growing up. But the company gives all the pointe shoes for free, so we have as many as we need.

Every dancer sews their pointe shoes differently. All to support your ankle in different ways. I put mine a little bit further forward, probably like an inch away from this seam. I'm just gonna smush the box. The box is where your toes go, and it's typically pretty tough, and pretty hard when you get a new shoe, and so you want it to be a little bit more malleable so that you can move your toes inside the box. So, I'm gonna smush them.

I need to be able to move that part, so I'm gonna stick my heel in the middle, and pop it like that, so that, now I can bend this part of the shoe. This is called the shank. It's kind of like, your arch support. But you want it to bend, so that you can point your foot. So now they bend in here and they bend here, so it's a little easier for me to get my foot in there. Now I'm gonna bang them, because they're still pretty loud. And when you're dancing, it's very distracting. Alright.

I usually will put a little Second Skin. They're like little gel squares. So, I usually put them at the tips of my big toes, 'cause that is where most of the pressure is when I'm en pointe, and then I tape them so that they stay on. And then I'm gonna put an elastic here, and then I'm gonna put my paper towels on. I just wanna get a good bend in my shoe, which is why I'm like, pushing them out like this. They feel pretty good.

Alright, so now the bottom of the shoe is all, not as smooth, so it's harder to like, slip. So, this is rosin. You can like, smash it and it becomes powder and you kind of, just wipe your foot. Like, the edges that are slippery, and it's a lot less, slippery. Sometimes the very tip here will get very soft. So then I will use this hot glue to harden it back up again. That way you don't have to like, sew a whole new shoe. You can sort of make this last a little bit longer.

Some dancers will put it on the outside. Sometimes they do that, to give it a little bit more support at the top, so that it's not so soft when you get up. With a new pair, it just really keeps you all the way up. With a dead pair, it'd get really soft in here. Everything would just be much more soft. So it's harder to dance hours and hours when the shoe isn't keeping you up. You have to do a lot more work.

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Trump is pushing for a legislation to remove "gag clauses"— here's what you need to know about them

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U.S. President Donald Trump delivers remarks during a Congressional Medal of Honor Society reception at the East Room of the White House September 12, 2018 in Washington, DC. President hosted a reception to honor Medal of Honor recipients. (Photo by )

  • President Donald Trump took to Twitter on Monday to voice his support for a legislation that would ban "gag clauses" that limit the ability of pharmacists to tell consumers whether paying cash for drugs or through insurance would be cheaper. 
  • A Senate vote on the bill is expected to happen on Monday. 
  • Eliminating "gag clauses" is part of the Trump Administration's blueprint to lower drug prices for US consumers. 

The Trump Administration has been extremely vocal in the past about lowering drug prices. From trying to eliminate pharmacy benefit managers to calling out drug companies on Twitter, President Donald Trump has openly stated his grievances.

On Monday, President Trump highlighted in a tweet his support for legislation that will remove so-called "gag clauses" which limit the ability of pharmacists to tell consumers whether paying cash or through insurance would be cheaper. They also prevent pharmacists from recommending less costly alternatives such as generic versions or therapeutically similar drugs. Such clauses make it harder for consumers to gauge how affordable a drug can be, and they can wind up overpaying. 

In March, the US Senate introduced the Patient Right to Know Drug Prices Act, which would ban these type sof clauses. Individual states like Arkansas took matters into their own hands and have already banned them within the state. This effort makes Arkansas the first state to regulate pharmacy benefit managers, the middlemen that issue drug rebates to employers and insurers.

Secretary of Health and Human Services Alex Azar has also announced that steps will be taken nationally to change up the roles and functions of PBMs to decrease the cost of drugs across the board. He has also voiced his support for the elimination of gag clauses.

The bipartisan legislation, introduced by Senators Susan Collins, Claire McCaskill and Debbie Stabenow, is named “The Patient Right to Know Drug Prices” and would block insurers or PBMs from preventing pharmacists from openly discussing costs and alternatives with customers. The upper chamber is expected to vote on the bill on Monday.

The senate already passed a bill earlier this month that bans gag clauses in Medicare Advantage and Medicare “Part D” plans.

This is not the first time that Trump has criticized gag clauses. Speaking about his blueprint for lowering drug pricing in May, he called the gag rule a "total rip off" and said that his administration is going to end it. 

See also:

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One of the world's most important programmers says he's taking time off so he can learn how to not be such a jerk

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Linus Torvalds

  • Linus Torvalds, the programmer behind the free and open source Linux operating system, is taking some time away from the project to "get some assistance on how to understand people’s emotions and respond appropriately."
  • Torvalds has a reputation for being something of a brilliant jerk — he's known for sending profanity-laden e-mails, and generally showing a bad attitude that's turned women and underrepresented groups especially away from contributing to Linux. 
  • "My flippant attacks in emails have been both unprofessional and uncalled for. Especially at times when I made it personal. In my quest for a better patch, this made sense to me. I know now this was not OK and I am truly sorry," he told the Linux community.
  • While many have praised Torvalds for showing this new attitude, there's some skepticism over whether or not this commitment will make a material difference after decades of this behavior.

There's a strong case to be made that Linus Torvalds is the single most important programmer on the planet. Now, he's temporarily stepping away from Linux, the software for which he's best known, to "get some assistance on how to understand people’s emotions and respond appropriately."

Linux, the free and open source operating system that Torvalds founded in 1991 and still oversees, runs on many, if not most, of the servers and data centers that power the internet. While it never caught on for its original purpose of providing a free alternative PC operating system, Linux is the underlying layer behind Google's ubiquitous Android.

Torvalds also created git, the technology that lets huge teams of programmers all collaborate on the same piece of software. Git is the technology that underlies GitHub, the company that Microsoft snapped up for $7.5 billion earlier this year, as well as smaller companies including GitLab. 

But Torvalds has another, less-flattering reputation for being, to put it bluntly, a jerk.

The Linux creator has earned a reputation for being someone that nobody wants to work with; a sender of expletive-laden e-mails and a leader whose bad attitude has pushed away women and underrepresented groups from the community of volunteer Linux developers. In the past, he's described himself as "not a people person," putting a fine point on it. 

"Linus Torvalds deserves a Nobel Prize for git, the Turing Award for Linux and [a] swift kick in the ass for almost everything else he's done," as Twitter user GonzoHacker put it in July

So it came as something of a shock when a note from Torvalds to the Linux kernel development community on Sunday about a new update also included a lengthy note saying that he was taking a break, so he could "try to at least fix my own behavior." He says that as the leader of the Linux community, his attitude has gotten in the way of the work. 

"I am not an emotionally empathetic kind of person and that probably doesn't come as a big surprise to anybody. Least of all me. The fact that I then misread people and don't realize (for years) how badly I've judged a situation and contributed to an unprofessional environment is not good," wrote Torvalds.

Later, he writes: "My flippant attacks in emails have been both unprofessional and uncalled for. Especially at times when I made it personal. In my quest for a better patch, this made sense to me. I know now this was not OK and I am truly sorry."

He does write that he plans to come back to Linux, after he gets that help: "This is not some kind of "I'm burnt out, I need to just go away' break. I'm not feeling like I don't want to continue maintaining Linux. Quite the reverse. I very much *do* want to continue to do this project that I've been working on for almost three decades."

He even jokes that perhaps part of this process would be creating an e-mail filter that simply doesn't send any e-mails out with cusses in them. 

A big reversal

This note from Torvalds is a stark reversal from attitudes he had previously expressed. 

In January 2015, he infamously remarked "I'm not a nice person, and I don't care about you. I care about the technology and the kernel — that's what's important to me." In that same talk, he said "all that [diversity] stuff is just details and not really important."

Before that, in 2013, Torvalds landed in hot water when high-profile Linux contributor Sage Sharp publicly took him to task over his use of expletives in official e-mails, calling them "verbal abuse." In 2015, Sharp quit working on Linux entirely, in protest of the "toxic" community.

In a 2016 TED talk, Torvalds said "I am not a people person."

Of note, however, is that Torvalds' note announcing his hiatus also comes right as the Linux kernel community adopted its first-ever code of conduct— a set of rules for how Linux contributors should behave with each other, including guidelines around empathy and constructive criticism.

The code of conduct replaces the community's older "Code of Conflict;" a looser set of rules that concluded "Try to keep in mind the immortal words of Bill and Ted, 'Be excellent to each other.'"

Torvalds is getting mixed reviews

The unexpected double-header of Torvalds' announcement — that he apologized for his past behavior, and that he was taking time off to fix it — was met to largely lukewarm reviews from the open source software world. 

While many were happy to see Torvalds apologize and express a willingness to change his leadership style, others were more skeptical, and are waiting to see what comes of it. A common sentiment is that apologizing now doesn't necessarily negate any damages he might have caused over the last few decades. 

We've reached out to the Linux Foundation, which oversees the Linux community, for comment, and will update if we hear back.

SEE ALSO: Oracle's head of cloud left after butting heads with Larry Ellison, source says

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NOW WATCH: I woke up at 4:30 a.m. for a week like a Navy SEAL

Google apologizes for accidentally changing settings on some people's smartphones without their knowledge or consent

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Pixel 2

  • On Friday, some Android smartphone users reported that their battery-saving settings were enabled without their knowledge or consent. 
  • Google eventually admitted that it was an experimental feature that was accidentally rolled out to more users than intended.
  • On Saturday, the company apologized for the confusion.
  • The event raises questions about how much control Google has over users' smartphones without their knowledge or consent. 

Google has issued an apology to the smartphone users on Reddit who reported on Friday that their battery-saving settings were turned on without their knowledge or consent.

Here's what happened. According to numerous Android owners who posted in the Reddit thread flagging the issue, last week the battery-saving option on Google's Pixel smartphones, as well as two Essential Phones, was inexplicably turned on, even if the owners had previously turned it off. The affected phones were running the latest version of the Android operating system, Android Pie 9.0. 

The battery-saving feature slows down the phone's performance and prevents the phone from actively searching for notifications for things like emails and updates within apps. 

Google Pixel 2 5

Google commented on the Reddit thread admitting that "This was an internal experiment to test battery saving features that was mistakenly rolled out to more users than intended." Google apologized in its response to Redditors, saying "Sorry for the confusion."

Google also rolled back the battery-saving settings to their original settings on the affected phones.

While the rollout of Google's experimental feature on Android is a seemingly harmless accident, it did raise questions among smartphone owners in the Reddit thread about the kind of control that Google has on phones running Android. The notion that Google could remotely change settings on their smartphones was not well received, especially in instances when the phone's owner wasn't notified of the change first.

One Redditor said "the whole 'we'll fix it guys' is not gonna fly on this one. What other changes are being made behind the scenes that may or may not be interfering with users' lives and or / feeding data to Google?" Another Redditor said "They shouldn't have had the ability to change a setting like that in my phone without warning."

Others were seemingly understanding, or they had at least come to peace with the fact that Google could change a smartphone's settings without notification.

It should be noted that the experimental feature was, indeed, experimental. As such, the feature may not have contained any kind of notification for users. It's entirely possible that a final version of the feature could contain some kind of option allowing users to opt-in option for the feature.

Business Insider contacted Google regarding what kind of steps it would take to notify users if such a feature was to be rolled out, but has yet to hear back. 

SEE ALSO: The new smartphone from OnePlus will fix one of the most annoying 'features' of recent smartphones

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NOW WATCH: Everything wrong with Android

Jeff Bezos emailed 1,000 Amazon customers in 1997 asking what he should sell — and the common theme in their answers is still clear in the business model today

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amazon Jeff bezos

  • Amazon began in 1994 as a bookseller. Then it expanded to music and videos.
  • But by 1997, Jeff Bezos wanted to see how else he could expand his online storefront.
  • He emailed 1,000 randomly selected Amazon customers and found an interesting similarity among their answers.

 

While we think of Amazon as a place where you can buy truly anything, it wasn't always that way.

Jeff Bezos formed Amazon in 1994 as a bookseller.

Two years later, the fledgling e-commerce website had done well enough that he was able to expand to music and videos. After that, he knew it was time to expand the company further. 

"I emailed 1,000 randomly selected customers and asked them, 'Besides the things we sell today, what would you like to see us sell?'" Bezos said in a talk at the Economic Club of Washington on September 13

The answers were all pretty lengthy, Bezos said. But they all had one thing in common: "Basically, the way they answered the question was with whatever they were looking for at that moment."

One customer, for instance, said they wished Bezos sold windshield wiper blades, just because they needed new ones.

"I thought to myself, 'We can sell anything this way,'" Bezos said at the talk. 

So, Bezos started to introduce more of those everyday products to Amazon's storefront.

More than two decades later, we can still see that interest in addressing customers' needs with devices like the Amazon Dash Button, which allows users to quickly reorder laundry detergent, paper towels, or other necessities with simply the push of a button.

It wasn't the first time Bezos thought of Amazon's potential beyond hawking books. As Business Insider's Shana Lebowitz reported, Bezos first conceived of Amazon as an "everything store." It would sell every type of product all over the world. 

Such an undertaking wasn't possible on day one, so Bezos focused first on books. As Lebowitz writes from Brad Stone's book "The Everything Store":

Stone writes that Bezos thought up 20 possible product categories, from music to office supplies. Books seemed like the best option, for a few reasons. Customers would always know what they were in for, since one copy of a book is the same as another.

In 1995, Amazon had one million products for sale, and they were all books. Now there are more than 562 million products — and more than 5,000 of those goods are windshield wiper blades.

SEE ALSO: Jeff Bezos said the 'secret sauce' to Amazon's success is an 'obsessive compulsive focus' on customer over competitor

DON'T MISS: Jeff Bezos runs Amazon with 14 defined leadership principles. Here's how a 23-year-old engineer leveraged 5 of them to land a job.

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NOW WATCH: I woke up at 4:30 a.m. for a week like a Navy SEAL

We did the math to calculate exactly how long it would take Salesforce CEO Marc Benioff to earn the $190 million he used to buy Time magazine

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marc benioff

  • Marc Benioff and wife Lynne Benioff announced Sunday that they're buying Time magazine for $190 million.
  • The acquisition will cost Benioff around 21% of the estimated $900 million he earned from March 2017 to March 2018, according to our calculations, and only about 4% of his total $4.9 billion net worth.
  • It takes Benioff about two and a half months to earn $190 million. It would take someone earning the typical US annual salary every day more than 11 years to earn that same sum.
  • Benioff isn't the first billionaire to purchase a media title — Jeff Bezos bought The Washington Post for $250 million in 2013, and Laurene Powell Jobs acquired a majority stake in The Atlantic. 

On Sunday, Salesforce CEO and co-founder Marc Benioff and wife Lynne Benioff announced they are buying Time Magazine for $190 million cash as individuals. 

This isn't the first time Time magazine finds itself in new hands recently: The move comes not even one year after Meredith Corporation acquired its namesake company, Time Inc., which also houses well-known titles including People, Better Homes and Gardens, and Entertainment Weekly.

Nearly $200 million is a fortune, but to Benioff, it's not as much as it sounds. According to Forbes, his 2018 net worth is $4.9 billion, nearly $1 billion more than his $4 billion net worth in 2017. That means in just a year, his net worth increased by $900 million, earning him a spot on Forbes' 2017 and 2018 richest people in the world lists.

Broken down, that's:

  • $102,740 an hour
  • $2.47 million a day
  • $17.3 million a week
  • $75 million a month

According to the Wall Street Journal, Time, which generated $173 million in revenue in 2017, has an operating profit of $33 million. At $190 million, the Benioffs purchased the nearly century-old magazine for more than five-and-a-half times its operating profit — and around 21% of Benioff's estimated earnings over the past year. At $75 million a month, Benioff's wealth only had to grow for two and a half months to be able to afford the deal.

When you look at Time's purchase price compared to Benioff's total $4.9 billion net worth, it cost him a measly 3.88% of his wealth to acquire the magazine.

To put things in perspective, the median annual US salary in the second quarter of 2018 was $45,552, according to data by the Bureau of Labor Statistics. Benioff makes more than twice that much in an hour.

As noted above, the $190 million Benioff spent on Time is roughly 21% of his earnings last year. For the median US worker, that 21% rate is equivalent to $9,565. A person earning the median annual US salary every day would need 4,171 days, or more than 11 years, just to be able to afford Benioff's Time acquisition. 

Benioff may be a billionaire, but these numbers don't even begin to stack up compared to how much other billionaires make in an hour. Other notable billionaires, like Mark Zuckerberg and Jeff Bezos, make Benioff's $102,739 hourly rate look like pennies.

how much money billionaires make in hour chart

Benioff follows in the footsteps of other billionaires — Jeff Bezos bought The Washington Post for $250 million in 2013, and Laurene Powell Jobs acquired a majority stake in The Atlantic.

The deal is expected to close in 30 days. As of September 17, one day following his acquisition announcement, Benioff's net worth is estimated at $6.6 billion by Forbes. 

SEE ALSO: We did the math to calculate exactly how much money billionaires and celebrities like Jeff Bezos and Kylie Jenner make an hour

DON'T MISS: Billionaire Marc Benioff's $190 million deal for Time could drag tech deeper into Trump's firing line

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Elon Musk and SpaceX shared new images of the rocket ship designed to colonize Mars — and the pictures hint at crucial design changes

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spacex big falcon rocket bfr spaceship booster launch bfs bfb rendering illustration elon musk twitter

  • Elon Musk and SpaceX have published new renderings of the Big Falcon Rocket launch system, which is designed to ferry people to the moon and Mars.
  • The release of the images coincides with a major announcement from SpaceX: Tonight, the company will name the first passenger to fly on the rocket
  • The images reveal an important design change — instead of one wing, the spaceship now appears to have three wing-like structures.
  • The identity of SpaceX's first private passenger, who has signed on to fly around the moon, will be revealed at 6 p.m. PT (9 p.m. ET). 

Elon Musk and his rocket company, SpaceX, have published new and imaginative illustrations of a spacecraft that’s supposed to ferry people and supplies to the moon and Mars.

The above rendering of the Big Falcon Rocket, or BFR, as the launch system is called, shows it punching through the cloud tops of Earth and flying toward space. Musk shared the image to Twitter on Monday morning.

spacex big falcon rocket bfr spaceship booster launch clouds bfs bfb rendering illustration elon musk twitter

Musk also tweeted a side view of the vehicle (right) that more clearly shows its two stages: a booster, or lower stage, and an upper-stage spaceship.

Last week, SpaceX shared an illustration of the ship in space, flying around the moon while firing seven rocket engines.

That picture, below, shows the Big Falcon Spaceship — as it’s sometimes called by Musk and his company — without the booster.

All three images were released just before a major announcement from SpaceX. Tonight, the company is planning to name the first person who will ride a BFR spaceship around the moon.

spacex moon mission big falcon rocket spaceship bfr bfs illustration

"SpaceX has signed the world's first private passenger to fly around the Moon aboard our BFR launch vehicle — an important step toward enabling access for everyday people who dream of traveling to space," SpaceX said on its website.

The company plans to broadcast live video of its announcement about the mysterious passenger starting around at 6 p.m. EDT (9 p.m. PDT) on Monday.

Read more: Elon Musk is about to name the first tourist to fly around the moon — here's how to watch SpaceX's announcement live tonight

But these new images may be more important than the revelation of the passenger’s identity. That's because they show off subtle but important differences in a vehicle that is ultimately supposed to ferry up to 100 people and 150 tons of supplies to Mars — and, of course, a person around the moon.

SpaceX’s interplanetary ship tripled its number of wings 

Musk, who is SpaceX’s chief designer, publicly described the BFR and showed renderings of the system at the 2017 International Aeronautical Congress (IAC).

According to those plans, the BFR would be 347 feet tall and 30 feet wide. It would be capable of carrying 100 people and 150 tons of supplies.

elon musk mars colonization big falcon rocket spaceship bfr bs illustration iac 2017 GettyImages 855370148

The newly released renderings show each stage of the system having roughly the same proportions. However, the spaceship’s body appears to have gotten a significant design revision.

The 2017 version of the ship had one delta wing, as Musk called it, near its heat shield. The wing is designed to help the ship plow through planetary atmospheres like those of Earth and Mars.

“Depending on whether you're landing on a planet or a moon that has no atmosphere, a thin atmosphere, or a dense atmosphere, and depending on whether you're reentering with no payload in the front, a small payload, or a heavy payload, you have to balance the rocket out as it's coming in,” Musk said during his 2017 IAC presentation.

He added that his engineers originally tried to avoid having even one delta wing, but said “it was necessary in order to generalize the capability of the spaceship such that it could land anywhere in the solar system.”

It appears one wing wasn’t enough, though: There are now three wing-like structures on the spaceship.

spacex big falcon rocket bfr spaceship booster launch clouds bfs bfb rendering illustration elon musk twitter labeled

SpaceX may have decided that these wings are necessary for the system to safely return to Earth. Or perhaps they're for slowing the ship down as it enters Mars' atmosphere, which has air about 1% as dense as our planet’s.

The renderings also show another wing on top of the ship, which resembles a tail fin like those on NASA’s space shuttle orbiters. Musk called it “forward moving wing” on Twitter; presumably it's there to help further stabilize the ship as it moves through air.

What’s going on with the BFR design changes?

We contacted several aerospace experts to get their takes on these design changes.

Greg Autry, the director of the Southern California Spaceflight Initiative, told Business Insider in an email, “I think it is really healthy to see this iterative change happening, because I believe we can assume it is based on actual development and simulation going on.”

Indeed, the spaceship and other BFR hardware are being prototyped inside a 20,000-square-foot tent at the Port of Los Angeles — at least until a much bigger permanent facility is completed.

“Elon is an incrementalist and to a great extent he is always thinking aloud. I admire this, but people who do this openly get criticized when their ideas evolve,” Autry said.

SpaceX's approach to designing rockets and spaceships is notably different than the way NASA and others do it, he added.

“NASA would design something like the Space Shuttle on paper and then build that damn thing come hell or high-water. Insights developed during the early production were usually ignored,’” Autry said. “Elon is from the software world, where rapid prototyping and iterative development are the norm ... Expect a different model from him, with some visible hiccups and in the end a safer and more efficient design.”

SEE ALSO: Elon Musk is building a spaceship that's so ambitious that some experts are calling it 'science fiction.' Here's what SpaceX and its engineers are up against.

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NOW WATCH: Watch how SpaceX salvages its $40 million rockets for reuse

Oracle only grew 1% last quarter, and Wall Street is starting to question whether management is up to the job (ORCL)

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Oracle Larry Ellison and Safra Catz

  • Wall Street analysts had a bone to pick with Oracle in notes to their clients published Tuesday, following mixed results in Oracle's first quarter FY2019 earnings on Monday.
  • Goldman Sachs lowered its price target for the database giant, while others questioned whether management is up to the task of reigniting growth. 
  • Oracle reported revenue growth of just 1% year-over-year, leaving some on Wall Street feeling that transformation at the company "continues to take longer than hoped." 

Wall Street is starting to get impatient with Oracle.

Following a hit-or-miss earnings report on Monday that showed a glacial pace of growth, analysts expressed a range of skepticism that the database giant can make good on its promises to expand its cloud market share — with some even questioning whether the existing management team has what it takes to make it happen. 

Goldman Sach's Heather Bellini retained her buy rating on shares of the company, but lowered her price target for Oracle from $56 to $55, noting that transformation at Oracle "continues to take longer than hoped." 

Morgan Stanley's Keith Weiss maintained his price target of $57 but acknowledged that Oracle's declining recurring revenue "likely leaves investors unconvinced" on the durability of growth at the company. 

Oracle's revenue growth — just 1% year-over-year — looks especially slow when compared to its competitors.

"Though management used the word 'growth' on its earnings call 24 times, the main challenge for Oracle is the lack thereof, in our opinion," Pat Walravens, an analyst with JMP Securities, wrote in a note Tuesday. 

Walravens contrasted Oracle's sleepy results to 39% growth at Amazon, 4% growth at SAP, 22% growth at Microsoft and 27% growth at Salesforce in each of their most recent earnings reports, covering the same period.

Though he maintained his neutral rating on Oracle, Walravens also questioned whether the company's executive team of co-CEOs Safra Catz and Mark Hurd, along with executive chairman and chief technology officer Larry Ellison, could ever make good on their promises.  

"At a high level, we continue to believe that Oracle needs to focus less on winning and more on its customers' success to drive growth," he wrote. "Whether that can happen under this management team is another question."

Indeed, others on Wall Street expressed skepticism that Oracle's management team can take the company to the next level.

The company recently stopped reporting its cloud revenue, instead folding those figures back into other product categories, which makes it difficult for analysts to chart growth in those key areas. This makes it easy for bears to suspect that Oracle's cloud revenues are decelerating when revenue figures come in below analyst expectations, wrote Barclays' Raimo Lenschow, who maintained his overweight rating of the stock.

"With these items no longer broken out separately, investors have to rely on management's comments, but credibility has suffered as of late," Lenschow wrote.

Oracle's mixed earnings results sent the stock tumbling after hours on Monday. The stock slid nearly 4% after hours  Monday, though it's since recovered to its earlier price. 

SEE ALSO: A 13-year-old startup you've never heard of just raised $225 million from Google to make software robots —and tripled its valuation from 6 months ago

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NOW WATCH: What drinking diet soda does to your body and brain


10 abandoned mansions around the world that likely used to be worth millions

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abandoned mansion carleton villa

  • Even the most expensive, extravagant homes can fall into disrepair without proper care.
  • These mansions were likely worth the equivalent of millions of dollars when they were built.
  • Years later, they sit abandoned in varying states of deterioration. 

 

When they were built, these lavish homes were likely worth today's equivalent of millions of dollars. Now, they're falling apart.

From a villa that's been sitting empty for 70 years on an island in upstate New York to a Gothic manor in Scotland, here are 10 abandoned mansions around the world that were once worth millions of dollars.

SEE ALSO: The most expensive home for sale in every US state

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The Carleton Island Villa, a dilapidated mansion that sits on an island in Cape Vincent, New York, hasn't been inhabited for 70 years.

Source: Realtor.com



The 11-bedroom mansion was constructed around 1895 for William O. Wyckoff, who made his fortune from the Remington firearm and typewriter company. Around the World War II Era, contractors went in and removed the interior and doors and windows.

Source: Realtor.com,Curbed



The mansion is now for sale for $495,000 — but whoever buys it will certainly need to spend much more than that on repairs and restoration.

Source: Realtor.com



See the rest of the story at Business Insider

'Fortnite' streamer Tyler 'Ninja' Blevins says he once received a $40,000 donation while playing the game

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Ninja, tyler blevins, twitch streamer, fortnite, streamer,

  • Tyler "Ninja" Blevins will be the first professional gamer to appear on the cover of ESPN the Magazine, gracing the front of the October issue.
  • Ninja enjoyed a meteoric rise to the top of the video game world, earning more than 18 million subscribers on YouTube and another 11 million followers on Twitch.
  • Most of Ninja's massive following comes from streaming "Fortnite: Battle Royale", but Ninja has recently shown interest in "Call of Duty: Black Ops 4."
  • While streaming, Ninja receives donations from viewers and can earn more than $500,000 per month. The largest single donation he remembers is $40,000.

Tyler "Ninja" Blevins has enjoyed a meteoric rise to the top of the gaming world, becoming the most watched video game streamer in the world playing "Fortnite: Battle Royale" and doubling as the game's most successful esports competitor.

Ninja now has a new achievement to add to his growing list: becoming the first professional gamer to appear on the cover of ESPN the Magazine.

In the ESPN cover story, Elaine Teng explores Ninja's roots in competitive Halo, his relationship with his wife/manager Jess, and how he maintains his six-figure-a-month career. Ninja's primary income comes from streaming; he spends about 12 hours a day playing for his Twitch audience and brings in $500,000 or more a month through subscribers and donations.

Ninja told ESPN the largest single donation he can remember is $40,000.

While playing "Fortnite: Battle Royale"alongside superstar artists like Drake and Travis Scott and winning major tournaments helped Ninja gain a celebrity profile during the last year, he began competitive gaming with "Halo 3" in 2009. Though his success seems directly tied to the rise of "Fortnite" as the most popular video game in the world, Ninja has shown that he is willing to branch out to other games.

Ninja recently participated in the beta for Blackout, the game mode in "Call of Duty: Black Ops 4" that mimics the battle royale genre, and he'll soon be competing in the game as well. He will be the leader of Team Ninja during the Doritos Bowl, a four team tournament scheduled for October 27 at TwitchCon 2018.

SEE ALSO: Meet Jessica Blevins, the 26-year-old wife and manager of the most popular video-game player in the world right now

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Brett Kavanaugh’s friend Mark Judge breaks silence about alleged sexual assault incident but says he will not testify

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  • There are growing calls for Mark Judge to testify before the Senate Judiciary Committee as it considers allegations of sexual assault against Supreme Court nominee Judge Brett Kavanaugh. 
  • Judge on Tuesday afternoon said in a statement he has no memory of the alleged incident and does not wish to speak publicly on the matter. 
  •  
  • Christine Blasey Ford alleges Kavanaugh assaulted her when they were teenagers at a high school party, and she says Judge was the only other person in the room.
  • Democrats say Sen. Chuck Grassley, the committee chairman, is rushing the confirmation process and are calling on the FBI to reopen Kavanaugh's background investigation.
  • Some Senate Democrats have also called for Judge to testify next Monday, including Senate Minority Leader Chuck Schumer. 

There are growing calls for Mark Judge to testify before the Senate Judiciary Committee as it considers allegations of sexual assault against Supreme Court nominee Judge Brett Kavanaugh, but Judge appears unwilling to speak publicly on the matter. 

Christine Blasey Ford alleges that Kavanaugh assaulted her when they were teenagers at a high school party, she says Judge was the only other person in the room. Kavanaugh and Judge attended Georgetown Prep, an elite all-boys high school in the Washington, DC, area, during the 1980s. 

Both Kavanaugh and Judge have vehemently denied the allegations, which have emerged over the past week. 

Judge on Tuesday afternoon issued a statement claiming he had no memory of the alleged incident and said he did not wish to appear before the Senate Judiciary Committee. 

"I have no more information to offer the Committee and I do not wish to speak publicly regarding the incidents described in Dr. Ford's letter,"Judge said in the statement

Kavanaugh and Ford have both been invited to testify before the committee next Monday. But Senate Judiciary Committee Chairman Sen. Chuck Grassley on Tuesday said Ford has yet to respond to the invitation, even after being contacted by the staff several times over the course of roughly 36 hours. Meanwhile, Kavanaugh has agreed to testify. 

Democrats accuse Grassley of rushing the confirmation process

Democrats on the committee say Grassley is rushing the confirmation process and are calling on the FBI to reopen Kavanaugh's background investigation, which would include questioning Kavanaugh, Ford, and Judge on the incident. But the FBI has shown no signs in plans to do so. 

All 10 Democrats on the committee signed a letter sent to FBI Director Chris Wray and White House counsel Don McGahn expressing their dismay over the process. 

"The need for the FBI to perform its due diligence has become even more important in light of Chairman Grassley’s announcement that he plans to move forward with a hearing on this matter next Monday," the letter said. "The Committee should have the completed report before any hearing occurs and we ask that you take immediate steps to make sure that we have the FBI’s report before we proceed."

President Donald Trump on Tuesday said the FBI should not get involved and reiterated his support for Kavanaugh, who he said is "anxious" to testify. 

'How could we want to get the truth and not have Mr. Judge come to the hearing?'

Many Democrats argue Judge should be invited to testify before the committee. 

Democratic Sen. Kamala Harris, who sits on the Senate Judiciary Committee, on Tuesday tweeted that "Mark Judge and other witnesses who can provide insight into Dr. Ford’s allegations should also testify in front of the Judiciary Committee.

"The public deserves a thorough process not a rushed job," she said.

Sen. Chris Coons, also a Democratic member of the committee, on Monday evening called on Judge to testify.

"Not having in front of us the third person who is alleged to have been a participant in this troubling incident would be to not fully question whether there is some truth to it or not," Coons told CNN.

Senate Minority Leader Chuck Schumer on Tuesday also said Judge should testify in addition to Kavanaugh and Ford. Schumer said it would be "simply inadequate" to only have two witnesses testify next Monday. 

"How could we want to get the truth and not have Mr. Judge come to the hearing?" Schumer said. 

'He's already said what he's gonna say'

Senate Republicans have been more dismissive of Judge's potential testimony. Sen. Lindsey Graham, who sits on the Judiciary Committee, said there's "no reason" to have Judge appear. 

"He’s already said what he’s gonna say,"Graham said in reference to Judge. 

And Republican Sen. Susan Collins on Tuesday said it's "too early for me to make that judgment" when asked whether Judge should be called to testify under oath. 

Judge did not respond to repeated requests for comment from Business Insider.

SEE ALSO: Mark Judge: Meet Brett Kavanaugh's high-school friend and the other man named in Christine Ford's allegations against the Supreme Court nominee

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SENATE BATTLEGROUND MAP: The race for control of the Senate is as tight as it can be

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  • The 2018 US Senate elections are full of tight races, polling shows.
  • Entering the midterms, Republicans hold a 51-to-49 seat majority in the upper chamber of Congress.
  • A few seats changing hands could flip the body to Democratic control.
  • But Democrats are faced with a challenging map.

The battle for control of the Senate is as tight as can be, RealClearPolitics polling averages show.

Candidates are separated by fewer than 2 points in six races, while the separation is less than 4.5 points in three additional contests:

  • Polling shows Republican candidates Rick Scott, Kevin Cramer, and Josh Hawley with leads of less than 2 points over Democratic incumbents in Florida, North Dakota, and Missouri.
  • Meanwhile, Democratic candidates Kyrsten Sinema and Jacky Rosen hold slim leads for seats currently under GOP control in Arizona and Nevada.
  • In five states won by President Donald Trump in 2016, Democratic incumbents hold substantial leads over their opponents: Sens. Sherrod Brown of Ohio, Bob Casey of Pennsylvania, Joe Manchin of West Virginia, Debbie Stabenow of Michigan, and Tammy Baldwin of Wisconsin.
  • In Tennessee, the race between Republican Rep. Marsha Blackburn and former Democratic Gov. Phil Bredesen is now locked in a dead heat.
  • In deep-red Texas, Republican Sen. Ted Cruz is fending off Democratic Rep. Beto O'Rourke in a race that is separated by roughly 3 points.

Entering the midterms, Republicans hold a 51-to-49 seat majority in the upper chamber of Congress.

Election Day is November 6. We'll be updating this map in the weeks leading up to it.

SEE ALSO: Insiders are buzzing that northern Virginia could soon be awarded Amazon's HQ2 as Jeff Bezos makes a high-profile visit to Washington, DC

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6 things you should always keep at your desk

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  • Your desk is your space at work where you complete all of your job-related tasks.
  • You should organize your desk in a way that enhances productivity, rather than clutter it with items that hinder it or distract you.
  • Here are six things, like a good office chair and desk planner, you should always keep at your desk.

 

When I became a full-time freelancer and transitioned to working remotely about eight years ago, I was terrible with organization.

My "desk" was the couch, and my organization strategy was scribbling notes on Post-Its and randomly sticking them to my laptop, only for them to get lost. A few years of this system resulted in lost emails and forgotten deadlines, and I realized that it was time to buy a proper desk and get organized.

While I do occasionally work in coffee shops or from my bed, most of my working hours are spent sitting upright at my desk. Everything I need to stay organized is at my fingertips, so I’m able to complete my tasks more efficiently.

Whether your working at home or in an office, here are six things you should always keep at your desk to be organized and enhance productivity:

SEE ALSO: 5 organization tips for people who hate organizing

1. A good office chair

Sitting in an uncomfortable chair all day can result in back pain and distract you from concentrating on your job tasks.

A decent desk chair should provide lumbar and pelvic support to remove stress from your back muscles. Since poor posture may lead to headaches or muscle fatigue, a supportive chair is a worthwhile investment.



2. A desk planner

While I often use Google Calendar to note important dates and there are no shortage of online planners, it also can be helpful to have deadlines, appointments, calls, and other reminders written on paper as well.

Keeping a written to-do list near your desk can help you stay on-task, remind you of what's coming up, and help eliminate the possibility of a scheduling error.



3. A wireless printer

While mostly everything is done online these days, from shopping to filing your taxes, there are still times when you'll need a printer.

Going paperless is great for the environment, but when you need to print out a form to send to an employer or you prefer editing with a paper and pen, a wireless printer comes in handy.

A wireless printer also means one fewer cord to get in the way. Plus there are some inexpensive, high-quality options out there.



See the rest of the story at Business Insider

I embedded with US Marines on a Hurricane Florence search and rescue mission — here's what happened

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JACKSONVILLE, North Carolina — Camp Lejeune faced criticism from some journalists for not ordering a mandatory evacuation before Hurricane Florence. 

But what then looked like a Category 4 hurricane later became a tropical storm, and US Marines at Camp Lejeune ended up assisting with search and rescue missions around the their installation. 

And while on the ground covering the storm in North Carolina, which has killed more than a dozen people and caused catastrophic flooding and damage, I had a chance to embed with some US Marines as they went on a search and rescue operation. 

Here's what happened. 

More Hurricane Florence stories from Business Insider:

17 photos show Hurricane Florence's devastating flooding from the sky

A victim of Hurricane Florence described losing his wife and son at the same time when a tree smashed into their home

SEE ALSO: I'm on the ground for Tropical Storm Florence, which has caused catastrophic flooding and damage. Here's what I'm seeing.

I met up with the Marines at an emergency operations center in Jacksonville, and quickly jumped in the back of one of their medium tactical vehicle replacements, or seven-ton trucks, before the convoy took off.

The Marines were assisting the disaster relief operations known as Joint Task Force 60, and their main mission here was to drive about five miles north to Richlands and pick up 30 residents stranded at a fire station.



The creek outside of Richlands had completely flooded, making the town accessible only to the seven-ton trucks. The video below shows the massive flooding surrounding the town.

 



And the flooding was incredibly deep in many spots.



See the rest of the story at Business Insider

The economy is strong — but Americans are still anxious about retirement

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Social Security

  • Despite a strong economy, Americans remain anxious about retirement security.
  • The system does not provide enough income to allow Americans to maintain their standard of living into old age.
  • Transforming the retirement system will require innovative thinking, public and private sector leadership, and bipartisanship.

Despite an expanding national economy, rising stock market, and historically low unemployment rate, Americans remain anxious about their finances. This unease is especially acute in one crucial area: retirement security. While Social Security remains an indispensable foundation, it does not provide enough income to allow Americans to fully maintain their standard of living into old age. Many in the previous generation also had corporate defined benefit (DB) pensions to rely on. But the responsibility to supplement Social Security now falls largely on families themselves, usually through employer-sponsored defined contribution (DC) accounts like 401(k)s or individual retirement accounts (IRA).

The results of this “risk shift” have been mixed. For those who have access to a workplace plan and steady and ample income, the DC system can be effective. For example, roughly half of plan participants surveyed in 2018 by J.P. Morgan feel they will be able to retire when they want, with savings to last throughout their golden years, up from 30 percent in 2012. But nearly half of workers have no access to workplace retirement plans, and the proliferation of “gig economy” and other contingent workers has the potential to leave even fewer Americans with traditional workplace benefits. Roughly 40 percent of American workers report having less than $10,000 saved for retirement. About half of households led by workers approaching retirement age have no money at all in a 401(k) or IRA.

Even those with plans may have difficulty finding the funds to set aside. Despite low unemployment, wage growth remains slow. Income swings from month-to-month are common, and that volatility often goes hand in hand with higher debt and greater difficulty planning for the future. How can policymakers and businesses address these challenges and the financial anxiety they produce? Our three organizations believe that the nation’s retirement system must be both more inclusive – giving all Americans the chance to save in a workplace retirement plan – and
more holistic – recognizing that, in addition to funding a nest egg, families today need help building emergency savings, smoothing month-to-month consumption, and paying back student loans.

In many ways, these multiple aims are complementary. Workers struggling to weather financial shocks or meet their short-term obligations are unlikely to be steady retirement savers. And, in fact, research shows that those without ready access to $400 are 2.6 times more likely to make a premature withdrawal from a retirement account. Achieving a more inclusive and holistic retirement system will require innovative thinking, public and private sector leadership, and a spirit of bipartisanship. On the innovation front, there is reason for optimism. Incumbents and startups alike are using technology to lower costs and expand offerings, with some experimenting with exciting new
initiatives like rainy-day savings accounts, pay advance, and student loan repayment.

Transforming the retirement system will also require fearless leaders, which is why our organizations joined forces to launch the Aspen Leadership Forum on Retirement Savings. The Forum is an annual gathering of senior officials from industry, government, academia, and advocacy, designed to conceive breakthrough solutions to the retirement savings gap and build the leadership capacity necessary to advance them. The Forum allows leaders from a diverse
range of organizations to build trust and work together to produce results. Our second annual meeting was held in April, and today we’re releasing a report summarizing the proceedings. The “CliffsNotes” version: participants were united in the urgent belief that we must close the workplace retirement plan coverage gap, expand access to short-term savings, and embrace increasing longevity by spurring the inclusion of guaranteed and non-guaranteed lifetime income options to manage asset drawdown. Building consensus on specific next steps will take time, but planning for the 2019 Forum is well underway, and we intend to stay the course and build levels of leadership and trust until retirement security for all is achieved.

Finally, the elephant in the room: bipartisanship. Our country’s politics today are of course highly polarized, and we don’t pretend to have a magic elixir to fix that. But historically, retirement legislation – from the Employee Retirement Income Security Act of 1974 to the Pension Protection Act of 2006 – has been crafted by leaders in both parties working across ideological lines. Even in the current environment, numerous bills that would make substantial improvements to the system – for example, the Retirement Enhancement and Savings Act and the Strengthening Financial Security Through Short-Term Savings Accounts Act – have strong bipartisan support.


At the state level, leaders in both parties have championed retirement programs for employees without workplace savings options, which will extend access to millions of workers. These and other innovative programs will provide critical insight into effective plan design as we seek to increase access while maintaining a commitment to workplace savings. Additionally, we are encouraged that President Trump recently added his voice to those calling
for expanded access to workplace retirement accounts, issuing an Executive Order that directs his administration to consider regulatory changes that would make it easier for small businesses to offer plans. Building financial security for Americans won’t be easy – indeed, it’s a generational challenge inextricably linked to wage stagnation, income inequality, and slow growth. But we need to start somewhere, and our organizations are confident that, even in these contentious times, consensus-building and action-taking for the good of the American people is still possible.

SEE ALSO: The market legend who has called every modern financial collapse explains the biggest mistake investors make when a bubble looks ready to burst

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28 celebrities who had some of the shortest runs on 'Dancing with the Stars'

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It doesn’t always pay to be first. Just ask all the contestants who have had the unfortunate distinction of being the first eliminated from the ballroom on the hit ABC reality show "Dancing with the Stars."

We rounded up some of the celebrities that lasted the shortest on the show — whether they deserved it or not. 

Johnny Damon and Jamie Anderson were victims of a double elimination

During season 26’s special truncated athlete’s edition, former baseball outfielder Johnny Damon and Olympic snowboarder Jamie Anderson were sent packing in a double elimination in the season premiere. Damon received 18/30 for his foxtrot with partner Emma Slater and Anderson didn’t fare much better with 19/30 for her Viennese Waltz with Artem Chigvintsev.



Barbara Corcoran did not find as much success in the ballroom as the boardroom.

The real estate mogul is a boss in the business world but failed to win over the public during her season 25 stint. She and partner Keo Motsepe were the first eliminated in the second week after posting a 17/30 for their foxtrot.



Chris Kattan couldn’t keep up in season 24

Actor and former "Saturday Night Live" comedian Kattan and partner Witney Carson said goodbye to the competition in week two despite posting a respectable 22/30 for their jazz routine.



See the rest of the story at Business Insider

A Microsoft exec and marathoner holds business meetings while running — and goes just fast enough that her negotiating partners can't talk

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  • Microsoft executive Peggy Johnson is an avid runner.
  • In an interview with The Wall Street Journal, Johnson told reporter Jen Murphy that she likes to run with customers, and "to go just fast enough so they can’t talk much and I can dominate the conversation."
  • Many executives combine exercise and work in interesting ways.

Combining exercise and work can be surprisingly fruitful.

The Wall Street Journal's Jen Murphy recently profiled Peggy Johnson, Microsoft's executive vice president of business development. According to the article, Johnson is an avid runner, aiming to compete in the Berlin, Boston, New York, Chicago, and London marathons.

Johnson uses her hobby for her work in a fairly creative way to get the upper hand in negotiations. She told Murphy, "When I run with customers, the goal is to go just fast enough so they can’t talk much and I can dominate the conversation."

Johnson travels extensively for her job, and likes to scout out new cities by taking a run. "If I’m sitting across from a partner or potential customer and I know a bit more about their locale, it helps me learn more about them," she told Murphy.

The Journal cited Dr. Brent Walker, the former president of the Association for Applied Sport Psychology, as saying that Johnson's running-based tactics can be very useful. Walker told the Journal, "If I were to go on a run with someone I was negotiating with and saw that they were very competitive in a noncompetitive situation, I’d know that it would be advantageous to make that person feel like they won something in our deal."

Johnson isn't the only high-level executive who combines work and exercise. In an interview with The New York Times, PayPal CEO Dan Schulman discussed his lifelong practice of Krav Maga. He explained to the Times that he learned an important lesson about picking his battles from the Israeli martial art:

"... The overrunning philosophy of Krav is that the best way to win a fight is to not get into a fight. It's very Zen in that way. How do you de-escalate situations? We spend a lot of time thinking about that. It's translated into the way that I think about business as well."

Read the full interview with Johnson at The Wall Street Journal here »

SEE ALSO: The CEO of PayPal takes his best career advice from martial arts, and it hasn't let him down yet

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A 2015 clip of Brett Kavanaugh joking about his days at an elite high school has resurfaced and is going viral

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WASHINGTON, DC - SEPTEMBER 05: Supreme Court nominee Judge Brett Kavanaugh testifies before the Senate Judiciary Committee during the second day of his Supreme Court confirmation hearing on Capitol Hill September 5, 2018 in Washington, DC. Kavanaugh was nominated by President Donald Trump to fill the vacancy on the court left by retiring Associate Justice Anthony Kennedy. (Photo by Chip Somodevilla/Getty Images)

  • A 2015 clip of Brett Kavanaugh making a joke about the elite Maryland high school he attended has resurfaced at an inconvenient time for the Supreme Court nominee. 
  • Kavanaugh faces allegations of sexually assaulting a woman along with the help of a friend when they were all teenagers at a high school party. 
  • Kavanaugh and the friend, Mark Judge, attended Georgetown Prep.
  • In 2015, Kavanaugh joked that "what happens at Georgetown Prep stays at Georgetown Prep."

A 2015 clip of Judge Brett Kavanaugh making a joke about the elite Maryland high school he attended has resurfaced at an inconvenient time for the Supreme Court nominee. 

Kavanaugh currently faces allegations of sexually assaulting a woman when they were both teenagers with the help of one of his friends from school.

The woman, Christine Blasey Ford, alleges Kavanaugh attempted to force himself onto her at a party in the early 1980s. Kavanaugh's friend, Mark Judge, is accused of being his accomplice in the alleged act. 

Kavanaugh and Judge both attended Georgetown Prep, one of the top high schools for boys in the DC area, and graduated in 1983. 

While delivering remarks at the Columbus School of Law in March 2015, Kavanaugh made a jocular reference to his alma mater: "We had a good saying that we’ve held firm to to this day as the dean was reminding me before the talk, which is what happens at Georgetown Prep stays at Georgetown Prep. That’s been a good thing for all of us."

Both Kavanaugh and Judge have both vehemently denied Ford's allegations, which could derail Kavanaugh's Supreme Court nomination. 

Kavanaugh and Ford have been invited to testify on the alleged incident before the Senate Judiciary Committee next Monday. Kavanaugh has accepted the invitation but Republicans on Tuesday said Ford had yet to respond. 

Judge on Tuesday issued a statement claiming he had no memory of the alleged assault and said he did not wish to testify, rejecting calls from Senate Democrats for him to do so. 

Judge is the author of two memoirs, "Wasted" and "God and Man at Georgetown Prep." In both, he details the drinking and debauchery he took part in while at Prep.

SEE ALSO: Mark Judge: Meet Brett Kavanaugh's high-school friend and the other man named in Christine Ford's allegations against the Supreme Court nominee

DON'T MISS: Brett Kavanaugh’s friend Mark Judge breaks silence about alleged sexual assault incident but says he will not testify

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A new report says pharma companies increased drug prices by nearly double during shortages — and it highlights the biggest debate in healthcare today

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  • Drug shortages are a constant worry for the US healthcare system. 
  • Researchers looked at prices of drugs under shortage from 2015 to 2016 and found that manufacturers increased their prices almost double the expected rate in absence of a shortage.
  • Though no clear reasoning was found behind the price increases, researchers suspect that manufacturers opportunistically priced these drugs due to high demand. 

Drug shortages are a constant problem burdening the US healthcare system. 

Earlier this year, hospitals starting running out of epidurals, typically administered to women when they give birth. That's adding to the aftermath of last year's Hurricane Maria, which disrupted the supply of saline and other intravenous fluids. 

A new study published by researchers from the University of Pittsburgh School of Pharmacy, UPMC Health Plan and Harvard Medical School in Annals of Internal Medicine found that on average the prices of drugs increased more than twice their usual rate. 

No clear reasoning was found behind why the prices increased so drastically, but researchers suspect that manufacturers were exploiting shortages to charge more for drugs in high demand. The study also found that that prices rose even faster for drugs where there was less competition.

To conduct the study, researchers looked a prices for 917 drugs under shortage between 2015 and 2016 using the FDA's shortage database.

Prescription drug shortages can cause health systems to use less effective drugs as substitutions or reduce doses and reserve supply for only those in emergent need. They can rack up an estimated $230 million in additional costs each year, according to the study. This includes the rising prices of drugs under shortage and the higher costs of alternatives. 

Dr. William Shrank, an author on the study, said there was no obvious rationale behind the price hikes. Unless there are serious issues with the material or production facility that requires higher costs, Shrank thinks that there should be a cap to control the pricing on these drugs. 

"It's really a central, if not the central, public healthcare policy that we're dealing with today," he said. "The price of drugs is rising faster than all other sectors of the healthcare economy, and we're spending more on drugs than we are on hospital care. It's a bipartisan issue that we're all looking to address and tackle."

The issue of high drug prices has been at the center of the Trump Administration's healthcare agenda, ever since President Donald Trump said last year that pharmaceutical companies are “getting away with murder” in terms of what they charge for medicine. The administration laid out a blueprint in May specifically to tackle drug pricing. 

See also:

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Learn from Y Combinator’s Paul Graham and Dropbox’s Drew Houston as they take the stage together at IGNITION 2018

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Paul Graham is a prolific investor and entrepreneur who cofounded the world’s most influential startup accelerator, Y Combinator. Since its launch in 2005, the accelerator has invested in more than 1,300 startups.

One such startup that has benefited from Y Combinator’s incubator programming is Dropbox, a business collaboration platform helmed by Drew Houston with over 500 million users across the globe.

Dropbox became the first Y Combinator company to go public when it filed for an IPO in February.

Hear from Graham and Houston as they take the stage together at IGNITION 2018. Learn how Graham vets startups that pass through Y Combinator and how Houston grew Dropbox into a $12 billion enterprise.

Take a look at the full lineup of IGNITION 2018 speakers confirmed so far. Get your tickets now to ensure you don’t miss a thing at the media and tech event of the season.

REGISTER now.

To keep up with IGNITION news, join our mailing list and you'll be the first to get updates on our speakers and agenda.

SEE ALSO: Announcing IGNITION 2018 speakers: Don't miss Scott Galloway, Janice Min, Steve Case, and more!

DON'T MISS: Sir Martin Sorrell, Danica Patrick, Troy Carter: Meet the newest additions to the IGNITION lineup

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