Quotient Technology Inc. (QUOT) is set to report fourth-quarter 2016 results on Feb 9.
Like what you read below? Sign up for HUFFPOST HILL and get a cheeky dose of political news every evening! Sean Spicer called on a reporter from fake news outlet LifeZette, which until today we assumed was some kind of Safeway insert that falls out of your Sunday paper; but no, it isn’t ― it isn’t at all. Donald Trump said he would announce a Supreme Court nominee next week, while, we assume, Merrick Garland sat on a park bench, limply tossing chunks of bread at nearby pigeons. And the Trump administration continues to hinder federal employees in their attempts to release important information to the public, recalling Smokey the Bear’s heart-wrenching, “Loose Lips Sink Ships” campaign. This is HUFFPOST HILL for Tuesday, January 24th, 2017: @hillhulse: On SCOTUS, Sen McConnell hopes “our Democratic friends treat Trump’s nominees same way we treated Clinton and Obama.” Hmmmm WHITE HOUSE STANDS BY MONSTROUSLY FALSE VOTER FRAUD CLAIMS - Sam Stein and Michael Calderone: “White House press secretary Sean Spicer confirmed on Tuesday that his boss, the president of the United States, is a committed conspiracy theorist. There is no other way to interpret what transpired at Spicer’s daily briefing. On repeated occasions, reporters asked him why Donald Trump continues to argue that 3 to 5 million undocumented immigrants voted illegally in the 2016 election. And on each occasion, Spicer responded that Trump says it because he believes it to be true. ‘The president does believe that,’ Spicer told one reporter. It’s a ‘longstanding belief,’ he told another. ‘He’s believed this for a long time,’ he said to a third. There is no evidence that millions of votes were cast illegally. In fact, multiple outlets and fact checkers have called such allegations bunk…repeatedly.” [HuffPost] Oh: “Spicer eschewed the tradition of calling upon a famous mainstream organization of some sort — either The Associated Press or a major TV network or newspaper — and instead beckoned Jim Stinson, who is covering the White House for LifeZette, a conservative cultural and political site started in 2015 by Laura Ingraham, the radio talk host and Fox News analyst.” [Poynter] GOP LAWMAKERS DUCK VOTER FRAUD CLAIMS - Laura Barron-Lopez: “Asked point-blank if Trump’s claim was true, McConnell refused to say. ‘I can just tell you that on the whole issue of election fraud, which our Democratic colleagues always argue is just fiction: There are people literally in jail in Kentucky for this kind of activity,’ McConnell told reporters on Tuesday…. South Dakota Sen. John Thune, third-ranking Republican in the upper chamber, also wouldn’t call Trump’s statement a lie. ‘I don’t know the answer to that,’ he said when asked if he agreed that as much at 5 million voted illegally. ‘I don’t know what that number is, and I guess you’ll have to get that info from [Trump].’ … House Speaker Paul Ryan (R-Wis.) told reporters he’s ‘seen no evidence to that effect’ when asked about Trump’s comments. Sen. Lindsey Graham (R-S.C.) gave the only real denunciation of Trump’s voter fraud claims out of his Republican colleagues on Tuesday. ‘I would urge the president to knock this off; this is the greatest democracy on earth, we’re the leader of the free world, and people are going to start doubting you as a person if you keep making accusations against our electoral system without justification,’ Graham told CNN in an interview.” [HuffPost] Steve King, God bless ya’, lad: “In an interview with MSNBC’s Hallie Jackson on Tuesday, King responded to President Donald Trump’s evidence-free claim that there were between 3 and 5 million illegal voters in the election ― an assertion that puzzled even some of Trump’s supporters. Citing ‘sample data from certain counties,’ King told Jackson he had done his own calculations and determined it was ‘plausible’ that 2.4 million people could have voted illegally. ‘I...did an extrapolation calculation on how many illegals could have or could be voting in the United States,’ King said, using an offensive term for undocumented immigrants.” [HuffPost] Are you in the mood to watch Kellyanne Conway try stand-up comedy? No? Well, in case you change your mind, watch this video from 1998. Like HuffPost Hill? Then order Eliot’s new book, The Beltway Bible: A Totally Serious A-Z Guide To Our No-Good, Corrupt, Incompetent, Terrible, Depressing, and Sometimes Hilarious Governmen Does somebody keep forwarding you this newsletter? Get your own copy. It’s free! Sign up here. Send tips/stories/photos/events/fundraisers/job movement/juicy miscellanea to [email protected] Follow us on Twitter - @HuffPostHill POLITICALLY-MOTIVATED GAG ORDERS, GET YER POLITICALLY MOTIVATED GAG ORDERS HERE - Since we’re reverting to the 2000s ethos of persecuting climate scientists, can we at least come up with cool, Newspeak names for anti-environmental bills like W’s Clean Skies Act? Kate Sheppard: “The Environmental Protection Agency has frozen its grant programs, according to sources there. EPA staff has been instructed to freeze all its grants ― an extensive program that includes funding for research, redevelopment of former industrial sites, air quality monitoring and education, among other things ― and told not to discuss this order with anyone outside the agency, according to a Hill source with knowledge of the situation. An EPA staffer provided the information to the congressional office anonymously, fearing retaliation…. The Huffington Post also received a message that was reportedly sent to staff Monday that seems to cover the current agency guidance on talking to the press in general, not just about the directive on grants. The memo states that the agency is imposing tight controls on external communication, including press releases, blog posts, social media and content on the agency website.” [HuffPost] CONGRATULATIONS TO THE GREEN PARTY ON A BANNER YEAR - Alexander Kaufman: “President Donald Trump signed executive orders on Tuesday to push forward the Keystone XL and Dakota Access pipelines, opening new fronts in his looming war with environmentalists. Keystone was rejected in 2015 by former President Barack Obama after a seven-year review. Trump’s orders clear the way to continue building Energy Transfer Partners’ 1,172-mile Dakota Access project, which has been stalled since the U.S. Army Corps of Engineers halted construction in December amid massive protests led by the Standing Rock Sioux…. Another action signed Tuesday calls for U.S. steel to be used if the pipelines are built, though that may mean little in the case of the Dakota Access Pipeline, which is nearly complete. One more order aims to overhaul what Trump called the ‘horrible permitting process’ by slashing environmental regulations.” [HuffPost] CONSERVATIVE COLORADO JUDGE POSSIBLE SCOTUS NOMINEE - David Savage: “Judge Neil M. Gorsuch, a highly regarded conservative jurist best known for upholding religious liberty rights in the legal battles over Obamacare, has emerged as a leading contender for President Trump’s first Supreme Court nomination. Gorsuch, 49, was among 21 potential high court candidates circulated by Trump’s team during the campaign, but his stock has been rising lately as several admirers and supporters have been named to positions in the Trump administration. He currently serves on the U.S. 10th Circuit Court of Appeals in Denver…. In Gorsuch, supporters see a jurist who has strong academic credentials, a gift for clear writing and a devotion to deciding cases based on the original meaning of the Constitution and the text of statutes, as did the late Justice Antonin Scalia.” [LA Times] Why: “The Senate Banking, Housing and Urban Affairs Committee has unanimously approved President Donald Trump’s nominee for housing secretary, Ben Carson. The former Republican presidential candidate and celebrated neurosurgeon would lead the Department of Housing and Urban Development, a sprawling agency with 8,300 employees and a budget of about $47 billion. His nomination now heads to the full Senate.” [AP] TOM PRICE TAKES THE FIFTH, BASICALLY - The HHS nominee went to great lengths to pretend he knows nothing about anything at his confirmation hearing. Jeffrey Young: “’I’ve had conversations with the president about health care, yes.’ That line ― delivered by Rep. Tom Price (R-Ga.), President Donald Trump’s nominee to be secretary of Health and Human Services ― was about as close to a revelation as anything that transpired during a Senate Finance Committee hearing Tuesday considering his nomination. After six terms in the House where he specialized in health policy, years in the Georgia state legislature and a long career as a physician, one of Price’s chief qualifications for the top health care position in the federal government is his knowledge and experience. Price opted to keep most of that knowledge and experience to himself at his confirmation hearing.” [HuffPost] At least Tom Price didn’t reveal himself to be an anti-vaxxer. And Tom Price’s investments in health care companies remain a problem. CHRIS SMITH IS VERY CONCERNED ABOUT HOW YOU USE YOUR UTERUS - Laura Bassett: “The first bill the House of Representatives passed under President Donald Trump is a sweeping anti-abortion bill that would make the procedure more expensive for women. The No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act would make permanent the Hyde Amendment, which denies abortion coverage in health insurance plans for women on Medicaid, military servicewomen, federal employees, residents of the District of Columbia, women in federal prisons, and women covered by the Indian Health Service. The bill also provides incentives for private health insurers to drop abortion coverage, bans abortion coverage in multi-state health insurance plans except in cases of rape, incest, or life endangerment, and denies women and small businesses tax credits if they choose health plans that cover abortion.” [HuffPost] Watch your backs, LGBTQ people. The White House hasn’t decided whether to let federal contractors resume discriminating against you. [HuffPost’s JamesMichael Nichols] TRUMP CARRIES CRUCIAL, ‘RICH SCIENTOLOGIST’ VOTE - We’re surprised the president hasn’t signed onto a religion centered around the interstellar flight of a bunch of jets. Jon Schleuss, Arlene Tchekmedyian and Kim Christensen: “[W]hile nearly all of the surrounding region voted for the Democratic former secretary of state, one little chunk of Hollywood best known for the Church of Scientology’s ‘Big Blue’ complex went red, picking the Republican billionaire instead…. Of the roughly 1,100 voters registered in the precinct, about half list addresses of Scientology properties. More than 250 voters listed addresses on L. Ron Hubbard Way, named for the science fiction writer who founded the church in 1954 and parlayed his self-help system, Dianetics, into a worldwide religion without a deity…. Among those who did proffer a theory for publication was James Kronwall, a registered Republican who lives on L. Ron Hubbard Way, and said he knew why the precinct went for Trump. ‘Scientology is the No. 1 foe of psychiatry,’ he said, adding that he and others in the church perceive Clinton to be an advocate for psychiatric programs.” [LA Times] DEFICIT GROWING JUST IN TIME FOR MASSIVE TAX CUTS - Alan Rappeport: “After seven years of fitful declines, the federal budget deficit is projected to begin swelling again, adding nearly $10 trillion to the federal debt over the next 10 years, according to projections from the nonpartisan Congressional Budget Office that reveal the strain that government debt will have on the economy as President Trump embarks on plans to slash taxes and ramp up spending…. Now, congressional leaders will have to choose between their fealty to the cause of fiscal prudence and the demands of the new president, who wants $1 trillion in infrastructure work over 10 years, a surge in military spending and large tax cuts for individuals and corporations.” [NYT] MINNESOTA GOVERNOR HAS CANCER - Ricardo Lopez: “Gov. Mark Dayton unexpectedly revealed on Tuesday that he has been diagnosed with prostate cancer. Dayton revealed his diagnosis at a news conference the morning after he collapsed Monday night during his State of the State speech, which cut it short. He told reporters that his outlook is good and that he expects to learn more after a follow-up consultation at Mayo Clinic next week to discuss his treatment options. The DFL governor, who turns 70 on Thursday, said he learned he had prostate cancer during his annual physical examination. A biopsy conducted last Wednesday confirmed the diagnosis.” [Star Tribune] BECAUSE YOU’VE READ THIS FAR - Here’s the White House given the “Office” treatment. TRULY WE’VE COME A LONG WAY AS A COUNTRY - It’s nice when oppressed people can start excluding people. That right there is the American Dream. Mark Landler: “For weeks, the members of an exclusive, mostly Jewish country club in the Maryland suburbs of Washington have been entangled in a bitter dispute over whether to exclude former President Barack Obama, who has played golf there, because of Mr. Obama’s policies toward Israel. On Monday, the management of the club, Woodmont Country Club, sought to put an end to the rancor, sending a letter to members notifying them that it had invited Mr. Obama and his wife, Michelle, to join as ‘special members.’ Under those terms, the former first couple would pay dues and other fees but would be spared the $80,000 initiation fee. ‘In the current deeply polarized political environment,’ the club’s president, Barry Forman, wrote, ‘it is all the more important that Woodmont be a place where people of varying views and beliefs can’” [NYT] COMFORT FOOD - Michael Jackson grunts make action scenes so much more intense. - Why can’t all Amazon Alexas be Big Mouth Billy Basses? - The Netherlands makes a play to be Donald Trump’s friend. TWITTERAMA @goldengateblond: ILLEGAL VOTERS: We’re ready! Which swing state needs us? DEMOCRATS: Just run up the vote in California, we’re after a moral victory here. @ClareMalone: Really appreciate the specificity of reader letters telling me to take my head out of “sphincter” rather than ass. Anatomically correct! @Phil_Lewis_: Ben Carson has been confirmed as Housing Secretary. Qualifications? He lives in a house. Got something to add? Send tips/quotes/stories/photos/events/fundraisers/job movement/juicy miscellanea to Eliot Nelson ([email protected]) -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
A new program will allow low-income families to purchase goods that they might not have access to locally. But is it a miracle or a mirage?
The J. M. Smucker Co. (SJM) recently raised the prices of the majority of its packaged coffee products sold in the U.S. The products primarily consist of items under the Folgers, Dunkin' Donuts and Cafe Bustelo brands.
On Dec 27, 2016, we issued an updated research report on Quest Diagnostics, Inc. (DGX).
• Woods makes return having pulled out of PGA tournament in October• The 40-year-old absent since August 2015 after two back operationsNever before has the imminent appearance of the world’s 898th-ranked golfer caused such a stir. Finally, after a series of false starts and more than 460 days, Tiger Woods will return to competitive action at the Hero World Challenge in the Bahamas on Thursday.The ranking – Woods is behind such unknowns as Max Rottluff, Brad Shilton and Curtis Thompson – provides one element of context. The other was once visible to the naked eye as Woods battled severe woes of fitness and form when last involved in tournament play. His absence led onlookers to wonder whether the 14-time major champion would ever be seen again in a competitive environment. Barring something late and completely unforeseen, Woods will indeed take his place in the 18-man field for the event which also raises money for his charity foundation. Continue reading...
С развитием технологий меняются не только условия нашей жизни. Многие прежние представления оказываются неприменимыми. VentureBeat составил список из шести новых правил, которые изменят жизнь людей.Все, что может быть оцифровано — будет!Преобразование в цифровую форму началось со слов и чисел и, через игры и видео, добралось до бизнес-функций, медицинских инструментов, промышленных процессов и транспортных систем. Недорогое секвенирование ДНК и машинное обучение ведут к раскрытию тайн жизни. Дешевые вездесущие сенсоры документируют все, что мы делаем.Скорее всего, ты останешься без работыВ каждой сфере машины и роботы начинают выполнять работу за людей. Подобное происходило во время промышленной революции, когда фабрики оставили миллионы людей без средств к существованию.Уже сейчас сетевые универмаги вроде Safeway и Home Depot быстро увеличивают число касс самообслуживания. Скоро беспилотные автомобили оставят без работы множество водителей. Автоматическая диагностика заменит врачей некоторых специальностей. В безопасности будут только творческие профессии.Жизнь станет такой дешевой, что работать не придетсяТелефонные переговоры дешевеют, а компьютеры становятся более мощными, чем 10 лет назад. Технологии совместного потребления приводят к тому, что целое поколение отказывается от владения автомобилями. Здравоохранение, пища, телекоммуникации, электричество и вычислительная техника быстро падают в цене, поскольку технологии трансформируют традиционную промышленность.Твоя судьба окажется в твоих руках, как никогда ранееИнформация, которая раньше была труднодоступной или дорогой, теперь распространяется легко и бесплатно. С помощью смартфона и приложений можно диагностировать и вылечить значительный процент заболеваний.Онлайн-обучение практически всему, чему угодно, уже бесплатное. SDK и программы открытого доступа позволяют создавать собственных дронов, а 3D-принтеры — печатать что угодно, включая электронику.Изобилие станет большей проблемой, чем нищетаВ развитых странах это уже так — изобилие вызывает проблемы со здоровьем. Ожирение, диабет, остановка сердца — главные убийцы на Западе. И они быстро распространяются в развивающихся странах, поскольку человеческие гены оказываются не готовы к условиям изобилия калорий. В избытке также оказываются интернет, масс-медиа и социальные сети. Увеличивается объем и скорость поступления информации, растет дефицит внимания. Даже имея необходимые инструменты, нам все сложнее заставить свой мозг довести дело до конца.Отличие человека от машины становится все незаметнейУмные очки и контактные линзы, протезы, которыми управляют компьютерные программы, экзоскелеты для военных или пожилых, сенсоры-татуировки, собирающие данные о самочувствии — в результате всего этого сама идея человека меняется. Становится крайне сложно провести черту между человеком и машиной.hightech
Quest Diagnostics Inc. (DGX) recently announced the launch of QuestDirect, a new Patient-Initiated Testing service in Colorado and Missouri.
Share price of Quest Diagnostics, Inc. (DGX) reached a new 52-week high of $87.48 on Nov 21, finally closing a bit lower at $87.29.
Former supermarket brand, which ended in November 2005, will front a range of hundreds of food and grocery productsMorrisons is reviving the Safeway brand after 11 years as part of its attempt to move back into the fast-growing convenience market.The former supermarket brand, which disappeared in November 2005 after being bought by Morrisons, will front a range of hundreds of food and grocery products, many of which will be produced within the Bradford-based company’s own factories. Continue reading...
In the run-up to an OECD Competition Committee roundtable discussion on 30 November 2016, Chris Pike of the OECD Directorate for Financial and Enterprise Affairs looks at the concerns and the opportunities created by the increased scope for personalised pricing in the digital economy. We’ve all felt it – the rush you get when you […]
Sharelle Klaus As the visionary behind DRY, Sharelle Klaus has always had a passion for the culinary world and celebrating each part of a meal - including the beverage. After having four children, she didn't want to let a lack of wine or cocktails stop her from creating a great pairing. Klaus recognized an absence of exciting and fun, yet sophisticated non-alcoholic options in the market, and became determined to create the first line of sparkling drinks that was worthy of gourmet meal pairing and premium mixology. She believed savory and sweet flavors more commonly used in cuisine could offer exciting compliments to her favorite meals - for example, Lavender with chocolate, Rhubarb with smoked meats, or Juniper Berry with oysters. In 2005, Klaus crafted the first batches of DRY in her home kitchen using real, high-quality culinary ingredients. Klaus brings nearly two decades of entrepreneurial, financial and technology industry experience to her role as CEO at DRY, and oversees all marketing, strategic planning and innovation for the brand. With guidance from some of the Pacific Northwest's leading chefs and a savvy corporate team, Klaus pioneered a new category of sparkling beverages, fearlessly leading DRY's aggressive growth in a male dominated industry, making it the fastest growing carbonated soft drink in the U.S. (according to Jan. 2015 SPINS data). Prior to founding DRY, Klaus worked as a consultant for Infrastructure Management Group and Price Waterhouse. She also served as president of the Forum for Women Entrepreneurs, where she drove strategic development of programs, events and fundraising for the organization's 250+ Seattle-area members. Klaus is an avid supporter of entrepreneurship and frequently speaks at professional conferences, workshops, and the University of Washington Business School, where she also participates as a judge for the Foster School's well-known business plan competitions. She has served as a member of the Executive Committee of the SPU Business School, the Board of Directors at the Seattle Chamber of Commerce and the Board of the Seattle Lung Force. Klaus graduated from Seattle Pacific University with an undergraduate degree in political science, and currently resides in Seattle, Wash. where she lives with her four children and German Shepard, Lennox. How has your life experience made you the leader you are today? From an early age I had a strong entrepreneurial curiosity and started several little businesses while still in grade school - I did things like make and sell Christmas wreaths around Christmas and started a community newspaper. I always thought I would create my own company someday. And I have this crazy habit of thinking about how to make "normal" things better or different. So believing that soda could be elevated, while not conventional thinking, was totally natural for me. The concept for DRY, specifically, was born from personal experience - after avoiding alcohol for years while pregnant and nursing, I realized there was this gap in the market for a beautiful-tasting, non-alcoholic beverage. Everything at that time was either cloyingly sweet or made with artificial ingredients. So I injected my personal experience and passion for the culinary world into my professional life when I started DRY back in 2005. How has your previous employment experience aided your tenure at DRY? The funny thing is that I had no experience in the beverage industry before starting my company, and so was blissfully unaware about all the "rules" that come along with being a part of it. Since I didn't know they existed, I didn't follow them, which was mostly a good thing. For example, I'd ask for bigger in-store promotions and displays, and probably wouldn't have if I knew this was something I wasn't necessarily supposed to do. What have the highlights and challenges been during your tenure at DRY? In terms of highlights, I'm really excited to say that DRY is now the fastest growing carbonated beverage brand in the United States, and we're on a trajectory to continue this growth pattern. That being said there was a significant amount of learning that had to occur in the last 10 years. I can admit I was not prepared for how much work it would take to create a new beverage brand, and truly a whole new elevated category of soda. Being the first comes with many bumps in the road, but being first also allows you to creatively change an industry. We love being innovative at DRY, so while no one may have ever had a Lavender soda before, we knew our target audience would want it. And being innovative allows us to be very creative in our marketing approach, in our distribution model, and even in our company culture. The highlights are definitely that we are now working with the top retailers in the country - Target, Kroger, Safeway, Loblaws (in Canada), Whole Foods and many others. These companies believe in what DRY is doing and what we have created. I am so proud that DRY is now so widely available to our devoted customers in North America. What advice can you offer to women who want a career in your industry? One of my biggest pieces of advice to women who want a career in this industry is to be fearless and creative in their approach because it's such a competitive industry. What is the most important lesson you've learned in your career to date? Work in an industry that you love and for a company that you are passionate about. If you are truly driven, you will always be one of those "hard workers." Might as well spend your 40+ hours per week doing something you are proud of, creating progress and profit for a company/brand you believe in. And always, always listen to your instincts. How do you maintain a work/life balance? Well, I have four kids, so a true "balance" is impossible. Juggling my calendar is a ridiculously challenging feat -- I'm constantly having to plan months ahead to be sure I'm not missing, say, Aspen Food+Wine festival or my daughter's high school graduation. I take time for real two-week vacations with my family - we just went to Costa Rica for a week for spring break. My kids are also now old enough that I can bring them with me on some of the more "fun" work trips, usually one at a time. This is so great because I get some one-on-one time with them and they get to be part of amazing food and dining experiences, like when I took my son to Cochon555's Chicago event a couple weeks back. And having dinner as a family as much as possible keeps me connected and always puts a big smile on my face. What do you think is the biggest issue for women in the workplace? Inequitable pay for women has always frustrated me. I honestly can't even believe the issue still exists! At DRY, four out of five of our Executive Team Members are women, so we're building a culture where all employees have equal chances for advancement, always based on performance and nothing else. How has mentorship made a difference in your professional and personal life? I am blessed to have so many people in my life who have contributed to my development as a founder and a CEO - from my youngest son to a handful of very seasoned CEOs. A few important people in my journey include: Dan Ginsberg, former CEO of Red Bull, Kathy Levinson former CEO of e-trade, Pete Ashby Fellow at Windsor House, John Repogle CEO of Seventh Generation, and Joth Ricci, President of Stumptown Coffee. Which other female leaders do you admire and why? Honestly, I really admire the three women on my executive team. Perhaps I'm biased because I work with them each day, but they are all such leaders in their own right. They are fierce, incredibly creative, competitive, proactive and always one step ahead. I'm inspired by them every day! What do you want DRY to accomplish in the next year? Well to start, we are forecasted to double our revenue from 2015-2016. We are also launching Fuji Apple DRY into our core line via Target, highly anticipated Serrano Pepper and Malali Watermelon Summer Seasonal flavors, and a new package and flavor for the holidays. We are always focused on innovation in flavor and design so we can stay one step ahead of what's happening in the industry. As big brands and startups are starting to emulate what DRY is doing, we are 100% committed to being leaders and not followers. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
If there's one thing almost all financial experts agree on, it's that low costs favorably impact returns. In this article, Morningstar concludes: "firms with high fees are unlikely to offer above-average performance. Low-fee funds give investors the best chance of success over the long term." A potential conflict The clear relationship between low fees and investing "success", creates a direct conflict between brokers and their clients. Commission-based brokers can increase their compensation (for themselves and their firms) by running up trading costs and selling expensive, actively managed mutual funds. This can be good for them but bad for your returns. The potential for widespread harm The selection of a higher priced investment option for inclusion in a large 401(k) plan is one of the allegations (which will have to be proven at trial) in a class action complaint against Safeway Inc, its Benefits Plans Committee and its recordkeeper. The complaint alleges a breach of fiduciary duty by Safeway and its benefit plan committee caused by the selection of target date funds managed by JP Morgan Asset Management (which is not named as defendant) in 2011 for inclusion as investment options in the Plan. Prior to that time, the Plan offered target date funds managed by Blackrock Institutional Trust Company ("Lifepath Index Funds"). The alleged wrongdoing centers around the difference in management fees charged by the Lifepath Index Funds (0.13 percent) and those charged by the JP Morgan funds (0.47-0.50 percent). The complaint also noted the availability of target date funds from Vanguard that charged a management fee of only 0.15 percent. It alleged that, net of management fees, the Vanguard target date funds "substantially outperformed" the comparable JP Morgan funds on average for the five-year period ending 2015. When the decision was made to replace the Lifepath funds with the JPM target date funds, JPMorgan Retirement Plan Services was the recordkeeper for the Plan. Subsequently, it was sold to Great-West Financial RPS or an affiliate, which became the new recordkeeper for the plan. Excessive revenue-sharing payments Finally, the Complaint asserts the JP Morgan funds kicked back 0.20 percent from its funds as a "revenue sharing payment", initially to JP Morgan Retirement Planning Services, and subsequently to Great-West, as compensation for its recordkeeping services. These revenue-sharing payments allegedly more than doubled between 2011 and 2014, while the number of participants in the Plan decreased. The Complaint asserts these payments were "far in excess of reasonable compensation" for recordkeeping services. My take Fees aren't the only basis for selecting a target date fund. As the Department of Labor notes, there are "considerable differences" among the funds offered by different fund families. These differences can include investment strategy, glide paths and fees. In order to prevail in its defense of this lawsuit, defendants will have to demonstrate both the existence of these differences (compared to the funds replaced and other lower cost options) and justification for paying a significantly higher fee for the JP Morgan funds. This may prove to be a formidable challenge. The views of the author are his alone. He is not affiliated with any broker, fund manager or advisory firm. Any data, information and content on this blog is for information purposes only and should not be construed as an offer of advisory services. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
Quest Diagnostics (DGX) have reported a solid third-quarter of 2016. We have highlighted some of the key details from the just-released announcement.
Quest Diagnostics Inc. (DGX) is scheduled to report third-quarter 2016 earnings results before the opening bell on Oct 20, 2016.