Computer History Museum launches Patrick J. McGovern Tech for Humanity Prize with $100K in Awards to Recognize Global Changemakers

MOUNTAIN VIEW, Calif., Jan. 14, 2021 /PRNewswire/ — Computer History Museum (CHM), with support from The Patrick J. McGovern Foundation, unveils the inaugural Patrick J. McGovern Tech for Humanity Prize. The prize will be awarded to changemakers who are creating a better future by addressing the grand challenges of our digital age in areas such as environmental sustainability, economic development, and social justice. 

MOUNTAIN VIEW, Calif., Jan. 14, 2021 /PRNewswire/ — Computer History Museum (CHM), with support from The Patrick J. McGovern Foundation, unveils the inaugural Patrick J. McGovern Tech for Humanity Prize. The prize will be awarded to changemakers who are creating a better future by addressing the grand challenges of our digital age in areas such as environmental sustainability, economic development, and social justice. 

$100k in Awards to recognize Global Changemakers at the intersection of technology and social change.

The selection committee includes remarkable individuals who have made notable contributions in technology, business, media and the arts, academia, and public service, including: social robotics innovator and MIT professor Cynthia Breazeal; Pixar cofounder and Oscar-winner Ed Catmull; media executive and DLD conference founder Steffi Czerny; tech media pioneer and health advocate Esther Dyson; ethernet coinventor and entrepreneur Bob Metcalfe; technology futurist and author Paul Saffo; China venture finance pioneer and founding chair of IDG Capital Hugo Shong; and, award-winning journalist and media entrepreneur Carlos Watson.  

The award honors the legacy of visionary business leader and technology publisher Patrick J. McGovern (1937-2014), the founder of IDG, a global media company with more than 300 print publications including ComputerWorld, Macworld and PC World. He was years ahead of his time in recognizing that technology can be used to democratize information, accelerate human achievement, and solve our greatest challenges.  

«Pat McGovern’s life’s work embodies the Museum’s vision of technology in service to humanity,» said Dan’l Lewin, CHM President and CEO. «As a pioneer in tech journalism, a successful entrepreneur, and a humanitarian, his unparalleled impact serves as an inspiring model for those of us seeking to meet today’s global challenges. Building on Pat’s involvement as an inaugural trustee of the Museum in 1982, we are proud this prize in his name will help fulfill CHM’s mission to harness technology to shape a better future for everyone.»

Anyone around the globe in any field pursuing creative and meaningful projects that examine, interpret, develop, or apply technology to shape a better future for humanity may apply. Changemakers will be selected for their past contributions, the potential impact of their proposed project, and their future potential to transform our world for the better. Projects chosen will be wide-ranging in their audience, medium, and target impact. For example: a pathbreaking publication on AI and ethics; a suite of online digital education resources for girls in developing countries to advance STEAM knowledge and skills; or a documentary film on innovation in technology and sustainability. 

Two individuals will each be awarded a $50,000 honorarium and will be named as distinguished «Patrick J. McGovern Tech for Humanity Changemakers at CHM» for a residency of up to eight months (virtual or onsite, as conditions allow), from May through December 2021. They will receive special access to the Museum’s unparalleled collection, in-house experts, and extensive network to help advance their work. In addition, one luminary will be honored for significant impact in creating a better future for humanity through technology. 

«Patrick J. McGovern inspired many with his optimism and vision for what is possible with technology,» said his son and selection committee member Patrick McGovern. «We’re excited to recognize both the luminaries and rising stars of tech for good in his name.» 

Prize applications will be accepted between January 15 and March 28, 2021. The Patrick J. McGovern Tech for Humanity Changemakers will be announced on April 28, 2021. Learn more and apply.  

About the Computer History Museum  

In the four decades since its founding, the Computer History Museum (CHM) has grown to become the leading museum exploring the computing past, digital present, and future impact of technology on humanity. CHM decodes technology for everyone to shape a better future. From the heart of Silicon Valley, we share insights gleaned from our research, our events, and our incomparable collection of computing artifacts and oral histories to convene, inform, and inspire people to build a better world. 

About the Patrick J. McGovern Foundation 

A global, 21st century philanthropy, the Patrick J. McGovern Foundation is committed to bridging the frontiers of artificial intelligence, data science, and social impact. The Foundation invests in the exploration, enhancement, and development of AI and data science for good. 

Contact:  Marie Jackson, mjackson@computerhistory.org, (650) 810.1010 

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SOURCE Computer History Museum

Shoppers Save Big with Trade-in Offers at Rodeo Hyundai in Peoria Area

SURPRISE, Ariz., Jan. 14, 2021 /PRNewswire-PRWeb/ — Peoria car owners who are thinking about trading in their current vehicle will be pleased with the trade-in options available at Rodeo Hyundai. The Rodeo Hyundai team offers prospective trade-in customers with a Kelley Blue Book Value for their trade-in, ensuring they receive the best offer for their vehicle.

When shoppers choose to trade their vehicles in at Rodeo Hyundai, they can be confident that the…

SURPRISE, Ariz., Jan. 14, 2021 /PRNewswire-PRWeb/ — Peoria car owners who are thinking about trading in their current vehicle will be pleased with the trade-in options available at Rodeo Hyundai. The Rodeo Hyundai team offers prospective trade-in customers with a Kelley Blue Book Value for their trade-in, ensuring they receive the best offer for their vehicle.

When shoppers choose to trade their vehicles in at Rodeo Hyundai, they can be confident that the Rodeo Hyundai team will provide them with the best offer available. Individuals can begin the trade-in process online on the Rodeo Hyundai website to get the process started before heading to the dealership.

Once the trade-in process is completed customers can choose from over 150 new Hyundai vehicles on the Rodeo Hyundai lot to drive off in.

Prospective buyers can use their vehicle’s trade-in value to put towards the purchase of a new or used vehicle from Rodeo Hyundai. The Peoria dealership already has a full range of 2021 Hyundai models in stock, with fan-favorites such as the Hyundai Elantra, Hyundai Kona, Hyundai Tucson and Hyundai Sonata available.

Anyone can view the entire lineup of new Hyundai vehicles at Rodeo Hyundai by visiting the dealership online, rodeohyundai.com. For answers to personalized inquires, a member of the dealership staff can be reached by phone at 623-214-4100 anytime during normal business hours.

The Peoria-area dealership is located at 12925 N Autoshow Ave, Surprise, AZ 85388 and accepts vehicle trade-ins seven days a week. The Rodeo Hyundai sales department is open from 8 a.m. to 9 p.m. Monday through Friday, 8 a.m. to 8 p.m. on Saturdays and from 10 a.m. to 6 p.m. on Sundays.

Media Contact

Peter Pasiakos, Rodeo Hyundai, 623-214-4100, press@earnhardt.com

 

SOURCE Rodeo Hyundai

Pepsi Stronger Together Gives Back to Florida During Super Bowl LV

ORLANDO, Jan. 14, 2021 /PRNewswire/ — Pepsi today announced new giveback initiatives it is rolling out in Super Bowl LV host city Tampa, and across Florida, as part of its Pepsi Stronger Together platform – a tailored grassroots-based program giving back to communities across the nation.

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ORLANDO, Jan. 14, 2021 /PRNewswire/ — Pepsi today announced new giveback initiatives it is rolling out in Super Bowl LV host city Tampa, and across Florida, as part of its Pepsi Stronger Together platform – a tailored grassroots-based program giving back to communities across the nation.

«When we launched Pepsi Stronger Together, we aimed to give back to communities around the country while inspiring people in those communities to take action,» said Derek Lewis, President, South Division, PepsiCo Beverages North America. «We have seen an incredible response in cities from Miami to Memphis, Louisville to Washington, D.C. – from a charitable food drive, a community basketball court refurbishment, to mentorship programs with local universities – and we are thrilled to be able to give back to the Tampa Bay community during a time of such cultural importance, the Super Bowl.»

Beginning now and continuing through Super Bowl LV, Pepsi will partner with community leaders, customers and organizations to deploy initiatives centered around key pillars of Pepsi Stronger Together: community and the environment.

In Tampa, Pepsi Stronger Together is partnering with the National Restaurant Association Educational Foundation (NRAEF) to donate $100,000 in grants and support to help struggling bay-area restaurants. Through the Florida Restaurant and Lodging Association (FRLA), Pepsi and the NRAEF will award $10,000 grants to Tampa restaurants – recipients of which will be announced live during Shaquille O’Neal’s «Shaq Bowl» restaurant challenge on Super Bowl Sunday. Qualifying restaurants will also be offered membership in the FRLA and National Restaurant Association.

«We are honored to work with Pepsi and FRLA to support these Tampa area restaurants and their employees,» said Rob Gifford, president, NRAEF. «They have faced tremendous challenges due to the pandemic and were hoping the Super Bowl would be a way to make up for lost business. With Pepsi, one of the Foundation’s largest donors, we are working together to help them get back on their feet.» Super Bowl fans across the country can help restaurant workers rebuild their futures by donating to the NRAEF at www.chooserestaurants.org/strongertogether.

Pepsi Stronger Together will also support the timely issue of coral reef and marine habitat conservation with nonprofit Force Blue by hosting Dive55, a beach and ocean clean-up day in Anna Maria, Florida on January 25. Running in conjunction with NFL Green Week, Dive55 will feature Force Blue Special Operations veterans leading 55 volunteer divers from multiple local organizations in an operation to remove marine debris and abandoned fishing gear from Spanish Rocks Reef, a rare gem of marine life that includes sponges, soft corals and a variety of reef fish.

«Force Blue is proud to be able to work with the NFL, Tampa Bay Super Bowl LV Host Committee and Pepsi leading up to Super Bowl LV to bring attention to, and take action for, one of the biggest problems our oceans face today – the rapidly declining health of our coral reefs and coastal habitats,» said Jim Ritterhoff, Force Blue’s Executive Director and Co-Founder.

As an added surprise and delight for fans across Tampa, Pepsi drones will be dropping in to select lucky fans’ homes with VIP swag and merch – helping make their homegating experience an unforgettable one. Learn more at pepsistrongertogether.com/gamedays.

About Pepsi Stronger Together
Pepsi Stronger Together is a national initiative to empower and engage communities around the country by providing tailored programming and resources that bring people together. It was conceived with the idea that now, more than ever, we must foster a sense of connection and belonging, starting by investing locally. Launched in May of 2020 in response to the COVID-19 pandemic – engaging its network of partners in the South to shine a spotlight on essential front-line workers in a variety of industries – Pepsi Stronger Together was expanded in October of 2020 by partnering with NBA teams and charitable organizations to foster, among other things, community and police relations.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. Under this vision, Pepsi Stronger Together is continually evolving the program to respond to the cultural moment and meet the needs of communities across the United States. Stay up to date at pepsistrongertogether.com, where visitors can engage in conversation and learn about the latest community initiatives and how to give back. Follow the conversation on social media at @pepsistrongertogether.

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SOURCE PepsiCo

Toyota Research Institute and Stanford University’s Dynamic Design Lab Study How to Improve Automotive Safety

LOS ALTOS, Calif., Jan. 14, 2021 /PRNewswire/ — What if every driver who ran into trouble had the instinctive reflexes of a professional race car driver and the calculated foresight of a supercomputer to avoid a crash? Researchers at Toyota Research Institute are working with Stanford’s Dynamic Design Lab to make this vision come true.

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LOS ALTOS, Calif., Jan. 14, 2021 /PRNewswire/ — What if every driver who ran into trouble had the instinctive reflexes of a professional race car driver and the calculated foresight of a supercomputer to avoid a crash? Researchers at Toyota Research Institute are working with Stanford’s Dynamic Design Lab to make this vision come true.

The engineers are conducting research into how to bring together the instincts of professional drivers and automated driving technology. Their goal is to design a new level of active safety technology and share it broadly so that Toyota and other auto manufacturers can deploy it on the road.

«Every day, there are deadly vehicle crashes that result from extreme situations where most drivers would need superhuman skills to avoid a collision,» said Gill Pratt, TRI CEO and Chief Scientist at Toyota Motor Corporation (TMC). «The reality is that every driver has vulnerabilities, and to avoid a crash, drivers often need to make maneuvers that are beyond their abilities. Through this project, TRI will learn from some of the most skilled drivers in the world to develop sophisticated control algorithms that amplify human driving abilities and keep people safe. This is the essence of the Toyota Guardian™ approach.»

Every year, car crashes result in nearly 40,000 fatalities in the United States, and about 1.25 million fatalities worldwide. Toyota’s goal is to reduce that number to zero. While most crashes occur in mundane situations, in other situations drivers may need to make maneuvers that take their vehicle close to and, at times, exceed normal limits of handling. When faced with wet or slippery roads for instance, professional drivers may choose to ‘drift’ the car through a turn.

«Since 2008, our lab has taken inspiration from human race car drivers in designing algorithms that enable automated vehicles to handle the most challenging emergencies,» said Professor Chris Gerdes of Stanford University’s Dynamic Design Laboratory.  «Through this research, we have the opportunity to move these ideas much closer to saving lives on the road.» 

TRI has supported the Dynamic Design Lab’s research for many years. The current project draws upon Stanford’s published paper, «Opening New Dimensions: Vehicle Motion Planning and Control using Brakes while Drifting,» in which Stanford researchers demonstrated advanced drifting on MARTY, an electrified, automated DeLorean. Stanford’s experimental results produced a proof-of-concept architecture capable of controlling a rear-wheel drive vehicle in a drift using brakes, steering and propulsion. TRI is now applying this architecture to vehicle platforms, including the GR Supra.

TRI is also engaging Toyota’s engineering expertise in motorsports and advanced development. Toyota Racing Development (TRD U.S.A., Inc.) in the United States is providing valuable technical and experiential know-how in motorsports and drifting. Separately, TRI is also working with Toyota Motor Corporation’s Vehicle Dynamics Control Team — based in Japan — to apply the drifting architecture for future Toyota vehicles.

About Toyota Research Institute
Toyota Research Institute (TRI), established in 2015, aims to develop active vehicle safety and automated driving technologies, robotics, and other human amplification technology.  Led by Dr. Gill Pratt, TRI’s researchers use artificial intelligence to benefit society and improve the human condition by creating a future where everyone has the freedom to move, engage, and explore. TRI is based in the United States, with offices in Los Altos, California, Cambridge, Massachusetts, and Ann Arbor, Michigan. For more information about TRI, please visit http://tri.global.

Media Contacts

Stephen Hughes
Communications Manager
Toyota Research Institute
Stephen.Hughes@tri.global
650-422-8947

Wendy Rosen
Communications Dir.
Toyota Research Institute
Wendy.Rosen@tri.global
650-284-6429

 

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SOURCE Toyota Research Institute

TrueCar Forecasts 16.0 Million New Vehicle Sales for 2021

SANTA MONICA, Calif., Jan. 14, 2021 /PRNewswire/ — TrueCar, Inc. projects 16 million new light vehicle sales for 2021, an increase of 10% from the previous year. Retail sales are expected to reach 13.9 million, an increase of 9.6% from 2020.

SANTA MONICA, Calif., Jan. 14, 2021 /PRNewswire/ — TrueCar, Inc. projects 16 million new light vehicle sales for 2021, an increase of 10% from the previous year. Retail sales are expected to reach 13.9 million, an increase of 9.6% from 2020.

«The year 2020 was a challenging one for the automotive industry and the economy at large, but the recovery came faster than most expected, providing strong momentum and pent-up demand going into 2021,» said Nick Woolard, Lead Industry Analyst at TrueCar. «Retail demand is healthy and will remain the driving force for total vehicle sales in 2021. Fleet sales will also increase, but at a much slower pace, due to the uncertainty surrounding travel.»

Q4 2020 saw record-breaking average transaction prices for new vehicles, as incentives eased and consumers opted for more expensive SUVs and trucks. The trend towards more expensive vehicles continues in 2021. Average transaction prices are projected to increase 3.1% year over year to $37,925. In previous years, the average transaction increased roughly 4% year over year.

«As the K-shaped recovery takes shape in 2021, we expect higher-income households, who have not been financially impacted by the pandemic, to continue making new vehicle purchases,» added Woolard. «Continued trends towards large trucks, SUVs, and a growing array of electric vehicles as well as additional safety and technology content will lead to even higher average transaction prices in 2021.» 

Average interest rates for new vehicles in 2020 were 4.74%, and interest rates for used vehicles were 8.47%.  TrueCar forecasts that interest rates for 2021 will remain similar to those we saw in Q4 2020.

«Car shoppers in 2021 can expect interest rates for new and used vehicles to remain at the low levels we saw towards the latter part of 2020 with support from the Federal Reserve,» said Alain Nana-Sinkam, Vice President of Strategic Initiatives at TrueCar. «The Fed is signaling continued support into 2021 as the U.S. economy recovers from the pandemic. The low interest rates are likely to stay at least through the end of the year.»

2019 ACTUAL

2020 ACTUAL

2021 FORECAST

YOY%

TOTAL SALES

17.0 M

14.6 M

16.0 M

10%

RETAIL

13.8 M

12.7 M

13.9 M

9.6%

FLEET

3.2 M

1.8 M

2.1 M

12.6%

AVERAGE
TRANSACTION PRICE

$35,317

$36,786

$37,925

3.1%

INCENTIVES

$3,801

$3,937

$3,876

-1.6%

(Note: This forecast is based solely on TrueCar, Inc.’s analysis of industry sales trends and conditions and is not a projection of TrueCar, Inc.’s operations.)

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry’s most personalized and efficient car-buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings, and market context on new and used cars – all with a clear view of what’s a great deal. When customers are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency, and fairness are the foundation of a great car-buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar-powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas, and Boston, Massachusetts.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pr@truecar.com 

TrueCar PR Contacts:
Shadee Malekafzali
shadee@truecar.com
424.258.8694

Tanya Kohan
tkohan@truecar.com
714.425.6319

 

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SOURCE Truecar, Inc.

Enertopia Provides Corporate Update

KELOWNA, British Columbia, Jan. 14, 2021 /PRNewswire/ — Enertopia Corporation (ENRT) on the OTC (the «Company» or «Enertopia») is pleased to announce it has closed $180,000 from a Private Placement. Enertopia will be issuing 3,000,000 common shares at USD $0.06 and 1,500,000 whole warrants that expire on January 14, 2022, with an exercise price of USD $0.09 per whole warrant during…

KELOWNA, British Columbia, Jan. 14, 2021 /PRNewswire/ — Enertopia Corporation (ENRT) on the OTC (the «Company» or «Enertopia») is pleased to announce it has closed $180,000 from a Private Placement. Enertopia will be issuing 3,000,000 common shares at USD $0.06 and 1,500,000 whole warrants that expire on January 14, 2022, with an exercise price of USD $0.09 per whole warrant during the 12-month period.

No finders fees were paid with respect to this financing.

Lithium Claystone Testing Update:

The Company is waiting for one new piece of additional test equipment for the next phase of solution testing. Once received, this will enable the Company to further analyze the patent potential of its synthetic solution process in a low CAPEX mining and processing scenario.

Additionally, 2021 will also see renewed activity on our Clayton Valley lithium project as we continue to move the project forward. «Enertopia looks forward to expanding our modern technology to create a better way to mine and protect our environment. We are enthusiastic in becoming the leaders in this mining method,» Stated President and CEO Robert McAllister.

Solar Patent Technology Update:

On December 15th, 2020 The Company announced the acquisition of USPTO Patent #6,024,086, since that time The Company’s Clean Energy advisors have been working to update the patent.  The Company will provide further information once the updated patents pending have been filed.

Enertopia Corp. continues to review and test additional technologies as it works to make mining a more ESG friendly industry. The Company expects to announce additional patented & patent-pending technologies in the calendar year 2021based on our due diligence and own testing research.

All issued shares will be subject to a hold period, for any resale into the United States under Rule 144, of six months and one day. Proceeds of the Private Placement will be used for continued Lithium Brine division development, additional technology, and general working capital. The Private Placement will be subject to normal regulatory approvals. 

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Enertopia:

A Company focused on using modern technology on extracting lithium and verifying or sourcing other intellectual property in the EV and green technologies to build shareholder value. 

Enertopia shares are quoted in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.888.ENRT201

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its mining or technology projects, growth opportunities, plans and objectives of management for future operations, including statements that include words such as «anticipate,» «if,» «believe,» «plan,» «estimate,» «expect,» «intend,» «may,» «could,» «should,» «will,» and other similar expressions that are forward-looking statements.  Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. There can be no assurance that the testing for the brine recovery system will be effective for the recovery of Lithium and if effective will be economic or have any positive impact on Enertopia, or that current talks with respect to potential joint ventures or partnerships will result in definitive agreements. There can be no assurance that patent #6,024,086 will have will a positive impact on Enertopia. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.

The OTC has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact: Robert McAllister, the President at 1.888.ENRT201

 

 

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SOURCE Enertopia Corporation

P2 Science Appoints John Revay as Vice President Finance

WOODBRIDGE, Conn., Jan. 14, 2021 /PRNewswire-PRWeb/ — P2 Science Inc., a green chemistry company, announced that John Revay has joined the senior management of the company to lead the financial function.

Revay has many years of experience in financial leadership roles, including stints…

WOODBRIDGE, Conn., Jan. 14, 2021 /PRNewswire-PRWeb/ — P2 Science Inc., a green chemistry company, announced that John Revay has joined the senior management of the company to lead the financial function.

Revay has many years of experience in financial leadership roles, including stints as CFO at Unison Energy and Apollo Solar. He joins P2 full-time after consulting with the company during the installation of a new ERP system during 2020.    

«We are very happy to add such an accomplished and well-known financial leader to our growing team,» said P2 CEO, Neil Burns. «The financial side of our company is in good hands with an executive of John’s stature.»

Revay graduated from Fairfield University in Connecticut with a degree in finance and got his start in the field with PwC in the audit area. He has a strong record of upgrading systems and controls in growing businesses.

«I am thrilled to join such an innovative and successful company,» said Revay. «I look forward to helping P2 achieve our ambitions as the company commercializes impactful and creative green chemistry.»

Revay is based at P2’s Naugatuck, CT green manufacturing facility.

About P2 Science:
P2 Science is a green chemistry company, co-founded by Professor Paul Anastas, head of the Yale Center for Green Chemistry and Green Engineering. P2 has developed and patented technologies for converting renewable feedstocks into high-value specialty products.

Investors in P2 include BASF Venture Capital, Xeraya Capital, Elm Street Ventures, Connecticut Innovations, Ironwood Capital, HG Ventures and Chanel. The company started up its first manufacturing plant in September of 2018 which produces novel renewable aroma chemicals and cosmetic ingredients. For more information, visit http://www.p2science.com.

Media Contact

Neil Burns, P2 Science, +1 (732) 688-9585, neil@p2science.com

 

SOURCE P2 Science

New Study Finds Tax Policy Drives Connecticut’s Ongoing Fiscal & Economic Crisis

BOSTON, Jan. 14, 2021 /PRNewswire-PRWeb/ — Multiple rounds of tax increases aimed at high earners and corporations triggered an exodus from Connecticut of large employers and wealthy individuals, according to a

BOSTON, Jan. 14, 2021 /PRNewswire-PRWeb/ — Multiple rounds of tax increases aimed at high earners and corporations triggered an exodus from Connecticut of large employers and wealthy individuals, according to a new study published by Pioneer Institute.

«It’s no coincidence that the state’s ongoing economic struggles have corresponded with a string of experimental tax hikes,» said Greg Sullivan, who co-authored «Connecticut’s Dangerous Game: How the Nation’s Wealthiest State Scared Off Businesses and Worsened Its Fiscal Crisis,» with Andrew Mikula.

Over the last quarter-century, Connecticut has endured a series of budget crises. To cover ballooning costs, the state enacted sharp tax increases, including four income tax hikes in the last 20 years that caused the top rate to jump by 77 percent.

Connecticut Governor Ned Lamont said that the tax increases «totally disadvantage the state,» noting that it already has «some of the highest income tax rates in the country and we pay a price for that.»

In recent years, Connecticut has increasingly turned to high earners and large companies to close budget gaps, doubling a surcharge on large firms, establishing and then increasing a tax on luxury goods, and raising the income tax for the state’s highest earners.

The results have been disastrous. From 2008 to 2020, the state placed 49th among the states in private sector wage growth. In just the last couple of years, General Electric and Alexion Pharmaceuticals both moved their headquarters to Massachusetts. The flight of jobs has in turn affected existing homeowners, and before COVID-19, property values in wealthy Fairfield County were still 18 percent below their 2006 peak.

Further, these tax increases have failed to stabilize Connecticut’s finances, and large deficits continue to be projected for the state.

According to 2016 Connecticut Department of Revenue Services data, the state’s wealthiest 3 percent of families account for 41 percent of all income tax revenue. Between 2012 and 2018, Connecticut lost high earners at a rate that trailed only Washington, D.C., and those who fled earned more on average than taxpayers who migrated into the state.

Despite rate increases, the amount of taxes paid by Connecticut’s 100 top taxpayers plummeted 45 percent between 2015 and 2016 alone.

Massachusetts took a very different approach in the wake of the 1990-91 recession. A state income tax that was once 6.25 percent now stands at 5.0 percent. In recent years, the Commonwealth has gained millionaires at a higher rate than the national average, and nearly twice the rate of Connecticut.

Between January 2008 and January 2020, employment in Massachusetts grew by 12.5 percent. In contrast, Connecticut still hasn’t recovered all the jobs it lost during the Great Recession, and those it has created are, on average, lower paying.

Massachusetts has also benefited from Connecticut’s struggles to retain major corporations and wealthy individuals, and Connecticut is one of the few states from which taxable income migration to Massachusetts has been positive in recent years. That said, wealth migration remains a concern in Massachusetts, especially given the large scale of tax avoidance.

«Leaving has never been easier,» said Pioneer Institute Executive Director Jim Stergios. «In some cases, high earners can stay put and simply move money into trusts located in other states.»

About the Authors

Andrew Mikula is a Research Assistant at Pioneer Institute. Mr. Mikula was pre¬viously a Lovett & Ruth Peters Economic Opportunity Fellow at Pioneer Institute and studied economics at Bates College.

Gregory Sullivan is Pioneer’s Research Director. Prior to joining Pioneer, Sullivan served two five-year terms as Inspector General of the Commonwealth of Massachusetts and was a 17-year member of the Massachusetts House of Representatives. Greg is a Certified Fraud Investigator, and holds degrees from Harvard College, The Kennedy School of Public Administration, and the Sloan School at MIT.

About Pioneer

Pioneer’s mission is to develop and communicate dynamic ideas that advance prosperity and a vibrant civic life in Massachusetts and beyond.

Pioneer’s vision of success is a state and nation where our people can prosper and our society thrive because we enjoy world-class options in education, healthcare, transportation, and economic opportunity, and where our government is limited, accountable and transparent.

Pioneer values an America where our citizenry is well-educated and willing to test our beliefs based on facts and the free exchange of ideas, and committed to liberty, personal responsibility, and free enterprise.

Media Contact

Micaela Dawson, Pioneer Institute, 617-723-2277, micaela@pioneerinstitute.org

Twitter

 

SOURCE Pioneer Institute

Diesel Forward® Expands Traditional Fuel System Components Offering

WINDSOR, Wis., Jan. 14, 2021 /PRNewswire/ — Diesel Forward expands its leadership in diesel fuel systems by increasing its repair parts offering with acquisition of DIPACO®. 

Diesel Forward’s network, the diesel experts, have been servicing fuel systems for more than 50 years. Delivering on our commitment to provide repair components, Diesel Forward has reached an agreement to purchase the assets of DIPACO. DIPACO for 60 years has been providing products to fuel repair shops…

WINDSOR, Wis., Jan. 14, 2021 /PRNewswire/ — Diesel Forward expands its leadership in diesel fuel systems by increasing its repair parts offering with acquisition of DIPACO®. 

Diesel Forward’s network, the diesel experts, have been servicing fuel systems for more than 50 years. Delivering on our commitment to provide repair components, Diesel Forward has reached an agreement to purchase the assets of DIPACO. DIPACO for 60 years has been providing products to fuel repair shops globally.

With this acquisition, Diesel Forward will expand its fuel system product line by offering 1,000+ additional SKUs of traditional fuel repair components and kits. DIPACO has a rich history and product breath that will ensure customers have the parts they need to service the millions of fuel systems in operation. Diesel Forward will continue to provide these products under the DIPACO brand. DIPACO will be an additional product line that Diesel Forward adds to its portfolio. Diesel Forward has the most comprehensive offering new and remanufactured fuel system and engine components for light, medium and heavy duty, and off-highway applications. 

Diesel Forward, Inc., is the nation’s leading provider of aftermarket diesel engine fuel systems and technical components for light, medium and heavy-duty, and off highway vehicles and equipment. The company and its Alliant Power brand distribute aftermarket new and remanufactured parts through more than 21 central distributors and over 550 service dealers around the world. Diesel Forward is also the largest distributor of top OEM brands to the aftermarket, including its national fleet accounts, through company-owned warehouses across four U.S. time zones. For more information, visit http://www.dieselforward.com/

DIPACO has been involved in the diesel parts aftermarket since 1948. For the first 20 years, its focus was on engine parts, beginning with Detroit Diesel and moving into parts for Buda and Allis-Chalmers engines. Beginning in the mid-1960s, DIPACO began its journey into supplying fuel injection parts. For more information, visit https://www.dipacodtech.com/

Media Contact:
Tara Lunder
608-842-5123
289079@email4pr.com

 

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SOURCE Diesel Forward, Inc.

Naples Underground Positioned as Frontliner for Tiquets.com Award

NEW YORK, Jan. 14, 2021 /PRNewswire/ — Naples Underground (Napoli Sotterranea) founded and run by lead archaeologist Vincenzo Albertini, offers excursions to the most fascinating and evocative places in the belly of Italy. This year, they are…

NEW YORK, Jan. 14, 2021 /PRNewswire/ — Naples Underground (Napoli Sotterranea) founded and run by lead archaeologist Vincenzo Albertini, offers excursions to the most fascinating and evocative places in the belly of Italy. This year, they are positioned as the frontliner to win a Tiquets award. Tiquets.com is the premiere online booking platform for museums and attractions worldwide. Every year they recognize and celebrate specific venues across the world that during the year have been able to provide their visitors with unique and exceptional experiences. This award has become so prestigious that last year, they received a 60 million dollar grant from Airbnb. This year 2020, Naples Underground (Napoli Sotterranea) goes up against two other Campania sites, vying for the award of Global Remarkable Venue. Also up for the award are the venues Herculaneum, and the Catacombs of San Gennaro.

The Global Remarkable Venue award is notably competitive as it celebrates museums and sites from Italy, France, the Netherlands, the UK, Ireland, the United States and Spain. Venues competing for this award will be judged based on three core criteria – providing visitors with the best experience, attracting the highest number tourists and finally, receiving the best reviews on the Tiqets.com platform.

This year, Naples Underground (Napoli Sotterranea) is competing for the Best Museum Category, which specifically recognizes museums and art galleries. Luuc Elzinga, founder and president of Tiqets explains that the winners of these categories are decided based on 750,000 reviews by tourists, thereby endowing the award with such prestige. There are many other Italian venue candidates with high-level profiles, such as Herculaneum. Another of the chief contenders is the Peggy Guggenheim Museum in Venice. The winners of the different categories will receive a Tiqets trophy, a marketing package worth € 5,000 and a boosted promotion to the ten million Tiqets customers globally.

This year there are also two new categories of the prize which Naples Underground (Napoli Sotterranea) will also be vying for. These awards will go to the site which has best employed creativity in their response to the Covid-19 crisis as well as to the best hidden-gem site which still provides their visitors with a superb experience, despite the challenges faced in 2020.

Instagram @napoisotterraanea

Contact:
Xoë Sazzle
+44 (0) 7570 82 0089

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SOURCE Napoli Sotterranea