IU Study puts Numbers to Value of Indiana Agriculture

first_imgHome News Feed IU Study puts Numbers to Value of Indiana Agriculture By Andy Eubank – Apr 17, 2012 IU Study puts Numbers to Value of Indiana Agriculture Facebook Twitter Facebook Twitter Indiana agriculture has an impressive showing in a new study from the IU Kelley School of Business. The report concludes that agriculture is integral to the state economy and has been greatly enhanced by export markets. Agricultural exports in 2010 totaled $3.4 billion or 11 percent of all the state’s exports. But the total agricultural export footprint extends to over 5 and a half billion dollars when the ripple effect of those exports sales is considered.The Indiana Soybean Alliance funded the study and that group’s president, Kevin Wilson, a Cass County farmer, felt the study would reveal some positive data, “but some of the numbers were actually a little bit stronger than I anticipated they might show up. The number of jobs we create was a little bit higher than what I actually thought it might be, and the amount of impact and dollars for exports in the ag community as well.”Wilson told HAT ISA funded the study to simply put some facts and figures together to reflect ag’s real impact on the Indiana economy, and that could help in the future at the statehouse.“Well I think it gives us a little more stake hold in our positioning when it comes to maybe gaining some support and dollars in the statehouse, and it gives us a little more of a positive background as to what we’re doing in agriculture throughout the state. So people can gain a little more confidence in what we’re trying to accomplish out here on the farm.”In the last decade exports from Indiana agriculture more than doubled, and in every sector except vegetables, the value of production increased by double or triple.During the survey year, 2010, over 100,000 Hoosiers worked in agriculture in some way, and the combined effects of agricultural exports alone supported an estimated 34,800 jobs statewide. About 18,100 of these jobs were on farms or in food processing activities. Purchases in the agriculture supply chain and the household spending of farm workers and other industry employees accounted for an additional 16,700 jobs.Over one and a half billion dollars in soybeans and related products made for half of the agricultural exports in 2010. There was another $1.1 billion in economic ripple effects due to soybean exports, with over 17,700 Indiana jobs supported.The rest of the top five export commodities in 2010 came from feed grains and related products with $800 million in exports, livestock and meat, and poultry and wheat products.The rate of growth for Indiana agriculture, the amount of ethanol exported, and ag’s impact on government revenues are all covered in the study, “Cultivating Trade: The Economic Impact of Indiana’s Agricultural Exports.” It is available at the Indiana Business Research Center website.[audio:https://www.hoosieragtoday.com//wp-content/uploads//2012/04/Indiana-Ag-fares-well-in-IU-study.mp3|titles=Indiana Ag fares well in IU study] Previous articleDouble Cropping Corn Could Happen in Indiana This YearNext articleHouse Ag Announces Farm Bill Hearing Schedule Andy Eubank SHARE SHARElast_img read more

UK’s FCA targets fiduciary management on price, performance

first_imgIt also raised concerns about conflicts of interest when investment managers provide fiduciary management services, and said it was proposing to introduce greater standardisation of price and performance of fiduciary managers.It said the performance and fees of fiduciary managers “appear to be among the most opaque parts of the asset management value chain”.It added: “A lack of publicly available, comparable performance information on fiduciary managers also makes it hard for investors to assess value [for] money.”The FCA’s comments were welcomed by Richard Dowell, head of clients at Cardano, who said the FCA’s plan for better disclosure of fiduciary management performance was “a much needed and positive step”.“Much work has previously been conducted around costs and charges, but little focus has been placed on the transparency of performance,” he said, calling on the FCA to agree a standardised approach to performance measurement.“This will help to ensure trustees can easily and accurately compare, review and select their providers,” he said.James Trask, partner at pensions specialist Lane Clark & Peacock, said the FCA’s concerns about conflicts of interest in fiduciary management came as no surprise.“The conflict is clear,” he said. “In a fiduciary relationship, the consultant is ‘marking his own homework’, as it was put to me recently. Clients really must get independent advice on the performance of their fund manager.”However, he questioned some of the findings and associated recommendations reported by the FCA, such as that consultants are infrequently changed and that there should be compulsory re-tendering of mandates.He also challenged the FCA’s finding that consultants did not help smaller institutional investors negotiate on investment management fees, saying that LCP “frequently negotiate[s] favourable rates to apply across our client base”.Danny Vassiliades, head of investment consulting at actuary and actuarial consultancy Punter Southall, did not address fiduciary management but welcomed the FCA’s attention to competition in the investment consulting sector, suggesting that, to increase competition, the FCA should “consider in more detail ways in which schemes can assess the performance of their consultant and determine whether their fees have been justifiable”. Big player pushback  Some of the largest investment consultancies said they welcomed the FCA’s interim report but also defended their work.Tim Giles, senior partner and head of the UK investment consulting practice at Aon Hewitt, named by the FCA as one of the players dominating a concentrated market alongside Mercer and Willis Towers Watson, suggested the FCA and Aon Hewitt had the same aims and that “[t]herefore, anything that encourages competition to ensure investment advice delivering better outcomes has our wholehearted support”.He acknowledged Aon Hewitt had a large share of the market but said “that is because clients have decided to work with us, as they recognise our size provides the range of services and choice that may not be available elsewhere”.He added: “Our clients choose between us and a wide range of competitors in the market.”On conflicts of interest, Giles said “[all] providers and decision makers in the market have potential conflicts” and that Aon Hewitt “[takes] all possible steps to understand our clients’ needs and to manage our potential conflicts”.He said: “We note that the FCA has not found any evidence of failure to manage potential conflicts.”Ed Francis, EMEA head of investment at Willis Towers Watson, said the company welcomed the FCA’s interim findings but cautioned that “any further regulation” should not impose higher costs on investors.He said advice on portfolio strategy should be regulated “to help trust-based pension funds to get a minimum standard of advice on these matters”, and that this advice could have a bigger impact on a pension scheme’s finances than advice on manager selection.On fiduciary management, Francis said the firm was “acutely aware of the need to provide clients with an unrivalled level of transparency on fees and performance” and that it “fully support[s] transparency, measurement and the reporting of meaningful performance figures for fiduciary managers”.He noted steps taken by Willis Towers Watson to disclose figures showing the performance and track record of mandates run on a fiduciary-management basis, saying that these “clearly demonstrate” the materially positive impact fiduciary management can have on pension scheme’s financial health. Some of the largest investment consultants to UK pension schemes have welcomed efforts by the Financial Conduct Authority (FCA) to encourage competition in the market but also defended themselves in response to concerns raised by the regulator about fiduciary management services.  The regulator today presented the interim findings of its study into the asset management market, as part of which it said it had found concerns about the way the investment consultant market operated.It has provisionally decided that there should be a market investigation into competition in the sector and also called for it to be granted regulatory powers over investment consultants.The regulator said “an in-depth investigation” was required given the potential detriment arising in this part of the value chain, the impact this advice has in determining future returns, the lack of regulatory oversight and the difficulty institutional investors face in assessing this service.last_img read more

Browns’ Baker Mayfield on playing with Odell Beckham Jr.: ‘It’s going to be a lot of fun’

first_img Patriots top 2019 projected NFL win totals; Browns make big jump Mayfield, who is set to enter his second season as the Browns quarterback, discussed his reaction to the deal at Beckham’s introductory press conference Monday.“It’s one of those things you can’t put into words to describe it correctly,” Mayfield told reporters. “I had two people at the house sitting there when I found out. I just started screaming, just yelling like you would have thought I was on the field on game day.” Related News Baker Mayfield celebrated when he found out the Browns acquired Odell Beckham Jr.In a blockbuster trade in mid-March, the star 26-year-old wide receiver was sent from the Giants to Cleveland in exchange for two drafts picks and safety Jabrill Peppers. “Realizing the potential and all the talent that (Beckham) has, it’s unique,” Mayfield said. “Not many are able to do it. So, then you put together two LSU Tigers next to each other, it’s a dangerous duo. It’s going to be a lot of fun but it’s something you can only dream about.’’Mayfield completed 63.8 percent of his passes and threw for 27 touchdowns, along with 14 interceptions, in 14 games as a rookie last season. Cleveland finished with a 7-8-1 record.center_img Beckham caught 77 passes for 1,052 yards and six touchdowns in 12 games for the Giants in 2018. The three-time Pro Bowl player has tallied 44 receiving scores over his five-year career.“It’s the potential,” Mayfield said about Beckham. “His play and his ability speak for itself, but the things that we talked about all throughout last year of what we need, the types of guys we need in this locker room to go in the right direction, that’s the best thing about that. He’s a team guy and he’s going to be a great presence for us in this locker room.’’Beckham will join Jarvis Landry on the Cleveland depth chart at wide receiver. The two played together collegiately at LSU and are close friends.  “We feel like we spoke this into existence almost,” Beckham said. “(Landry) and I dreamed of this. … I tell people all the time, (Landry) made me who I am today. He’s taken me to a level of this greatness, this legendary stuff that we talked about, it’s because of him.”Some dreams are too big to dream [email protected] x @God_Son80 pic.twitter.com/tjFAvkEWgu— Nike Football (@usnikefootball) April 1, 2019Mayfield said he was excited to share the field with both Beckham and Landry. NFL trade rumors: Duke Johnson has asked Browns to move himlast_img read more