Tag: New Jersey

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Business Culture

AM Best to co-sponsor and participate at 2023 Emerging Leaders Conference

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best again will co-sponsor and participate in the annual Emerging Leaders Conference, which recognizes high-performing individuals and provides professional training to develop the next generation of insurance industry leaders.

 

The event, which will take place Feb. 5-7, 2023, in Charleston, SC, is hosted jointly with the American Property Casualty Insurance Association (APCIA) and the Insurance Careers Movement.

AM Best Rating Services Executive Vice President and Chief Strategy Officer Andrea Keenan will join a panel discussion on Feb. 6, at 10:20 a.m. (EST), titled, “Navigating Global Risks & ESG While Advancing Resiliency.” Additionally, AM Best Senior Financial Analyst Connor Brach, FRM, was selected by conference organizers to be honored as an emerging leader at the annual event. He is responsible for the rating and analysis of a diversified portfolio of property/casualty insurance companies followed by AM Best, notably medical professional liability insurers, as well as captives and other specialty commercial lines writers.

 

“Connor being recognized at the Emerging Leaders Conference underscores his hard work and commitment to AM Best and the insurance industry,” said Keenan. “AM Best is a proud supporter of this conference, and the Insurance Careers Movement as well. We truly appreciate this opportunity to support young professionals as they develop into being tomorrow’s industry leaders.”

 

The Insurance Careers Movement is an industrywide initiative designed to raise awareness of the diverse career options that risk management and insurance offer, and AM Best is actively participating in the movement to address the industry’s critical talent gap issue. The Insurance Careers Movement has grown to more than 1,000 different insurance carriers, companies, media organizations and third-party vendors from around the globe.

 

For additional questions about the conference, please visit the event webpage or contact Marguerite Tortorello, managing director of the Insurance Careers Movement at mt@tortcommunications.com.

 

AMBest TV also will provide coverage of the conference. For daily reports and interviews, visit www.ambest.tv/elc23 during the event or look for the Emerging Leaders Conference-related playlist under the “Event Coverage 2023” tab at www.ambest.tv.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Culture Lifestyle

It’s more than pizza. Famed Chef Sal Basile brings Italy to Red Bank

Acclaimed Cooking Channel Chef/Restaurateur Opens First Sally Boy’s Location

 

RED BANK, N.J. — (BUSINESS WIRE) — #italianfood — Sal Basile, celebrated Cooking Channel chef, restaurateur, and one of the country’s foremost authorities in Italian cuisine opened the doors to his first Sally Boy’s restaurant today.

 

Star of the Cooking Channel’s Pizza Cuz and Pizza Masters, Basile is the co-founder of the highly successful Artichoke Basille’s Pizza, as well as numerous Italian specialty restaurants. The Sally Boy’s brand (named after his son and paying homage to Sal’s childhood nickname) is Basile’s futuristic vision come to life.

 

More than just an Italian restaurant, Sally Boy’s serves freshly baked pastries, coffee drinks, grab-and-go breakfast and lunch, Italian specialties, and Basile’s signature pizzas, including the Sally Boy’s Slice®, all prepared on site. The restaurant is located at 1 Broad Street in Red Bank, NJ.


“We set out to create something truly different, so we started with something truly amazing. We’re more than a pizza joint – we’re an experience,” says Chef Basile.

 

“My vision was to create a marketplace of Italian foods that is considered the best of the best – the finest pizza fired in a state-of-the-art Ferrari-red Castelli oven hand-made and shipped directly from Italy; a grab-and-go menu that is fresh and unique each day; gourmet coffee; the freshest baked goods made on premises; Italian specialties that our diners talk about for days; and, of course, the best pizza that our guests have to see and taste to believe.”

 

A True Taste of Authentic Italy

At Sally Boy’s, Basile offers his take on classic Italian cuisine he grew up preparing and eating—a mix of family recipes and new dishes—elevated by the highest quality ingredients shipped directly from Italy. Sally Boy’s specialty pies include the classic Margherita; as well as Bella’s Broccoli Rabe; Nonna’s Eggplant pie; Concetta’s Chicken; Calabrian Sweet Heat, and a wide selection of white and other pies.

 

But the Sally Boy’s experience goes beyond pizza. Guests enjoy specialty rolls, Italian strombolis, burgers, hot dogs, and cheesesteaks, which are made with freshly shaved ribeye. The eatery’s subs include hot classics like chicken; eggplant; meatball; and Italian sausage parmigiana, as well as cold subs like the Old School Italian and Red Bank Classic, named after the Red Bank Catholic High School located down the road from the Sally Boy’s location.

 

In addition, Sally Boy’s serves signature calzones as well as Sal’s specialty the “Salzone,” which is a monster calzone filled with eggplant and cheese, topped with shaved parmigiano and a drizzle of imported Italian extra virgin olive oil.

 

Appetizers range from pepperoni buns and buffalo wings to garlic sticks, as well as a selection of fresh soups and salads. Diners also enjoy fresh-baked Italian desserts like cheesecake, tiramisu, S cookies, and Sfogliatelle all made in house. The restaurant’s breakfast menu features New Jersey favorites like pork roll, bacon, or sausage egg and cheese sandwiches, and a breakfast cheesesteak.

 

Sally Boy’s utilizes state-of-the-art touchless technology, allowing customers to order at one of two kiosks or through their phone, and have the food brought directly to their table or packaged ready for take away. Sally Boy’s also boasts Red Bank’s only street-access late night pickup window located on East Front Street.

 

Mindful Architecture: A Modern Dining Experience Preserving Red Bank’s History

The restaurant is located in the heart of Red Bank’s downtown Core Central Business District on the iconic corner of East Front Street and historic Broad Street. The two story with basement building dates back to the 1940s with improvements and facade restorations conducted throughout the years.

 

Longview Construction’s Bill O’Leary was contracted to oversee the construction and ensure the restaurant’s historical elements were preserved. The building facade is masonry and brick with a gentle swooping curve as the building turns the corner. A large expanse of glass at both levels along with its sleek simple front is reminiscent of the international style from the mid 1900s. Red Bank’s Stephen Raciti Architects was hired to fuse the building’s historic architecture with the necessary updates needed to offer a contemporary aesthetic.

 

The award-winning Cahill Studio, an interior design and branding firm, paired industrial materials with contemporary hardware, countertops, and light fixtures, all complementing the open kitchen design. Each floor is 1,200 square-feet, with the second floor seating 22 people and features floor-to-ceiling retractable garage-style windows.

 

The entire preservation and restoration project represents multi-millions of dollars invested back into the Red Bank community. Basile plans to open additional locations nationwide in the coming years, in addition to offering customers around the country the ability to order Sally Boy’s specialties and pizza and have them shipped anywhere within the U.S. through its online marketplace.

 

Sally Boy’s is open every day for breakfast, lunch, and dinner. Sunday through Wednesday, operating hours are 7:00 a.m. to 10:00 p.m. Breakfast is offered 7:00 a.m. to 11:00 a.m. Lunch and dinner are offered 11:00 a.m. to 10:00 p.m. Thursday through Saturday, a late-night menu and takeout are also available from 10:00 p.m. to 2:00 a.m. For more information and to place online orders, visit www.SallyBoys.com.

Contacts

Media:

Brenda Urban

Percepture

burban@percepture.com
(973) 477-8456

Categories
Business International & World Lifestyle Travel & Leisure

GARP launches new chapter in Japan

Chapter to host inaugural Tokyo event on January 18 discussing climate risk

 

JERSEY CITY, N.J. — (BUSINESS WIRE) — Adding to its global network of local risk communities, the Global Association of Risk Professionals (GARP) is announcing the establishment of a new Chapter in Japan, offering educational and networking opportunities for risk professionals in Japan to share best practices and stay on top of emerging trends.

GARP’s Japan Chapter will celebrate its official launch with an event on January 18 in Tokyo. The in-person meeting will include a discussion on the trends and challenges of responsible investing amid sustainability and climate change initiatives, featuring a presentation from the PRI’s Minako Yoneyama. The Chapter plans to organize and host educational sessions on a quarterly basis going forward.

 

“We are very excited about the launch of our new Chapter in Japan, beginning with this timely event,” said GARP President and CEO Richard Apostolik. “We look forward to more closely engaging with risk managers in Japan, while also expanding our work with risk professionals throughout the Asian region.”

 

The launch event continues GARP’s ongoing emphasis on climate risk research and education established through its Sustainability and Climate Risk (SCR®) Certificate, the newest of GARP’s educational offerings. Created in 2020 to meet the growing demand for comprehensive climate risk education, the SCR is the top global practitioner-driven certificate program addressing the financial risks associated with climate change, regulatory initiatives, reporting requirements, and green finance instruments.

 

The SCR program follows in the footsteps of GARP’s flagship Financial Risk Manager (FRM®) Certification, which just celebrated its 25-year anniversary. To date, there are now more than 77,000 FRMs worldwide, who have come from more than 190 countries and territories, and include individuals working in banking, fintech, asset management, consulting, and many other industries.

 

GARP’s establishment of a Japan Chapter seeks to recapture and build on the risk education and networking opportunities of a pre-COVID world in the region. In 2018, GARP co-hosted a Global Risk Forum with the JFSA in Tokyo.

 

The introduction of a Japan Chapter brings the total number of GARP Chapters around the world to 29, with Italy, Indonesia, and Peru as the other most recent additions. GARP’s overall community includes nearly 300,000 professionals across more than 195 countries and regions.

 

“We are looking forward to helping build a vibrant local risk community,” said Akira Yamamoto, FRM, and Stefano Spillo, FRM, co-directors of the GARP Japan Chapter who earned the FRM in 2017 and 2015 respectively. “Working with a team of local risk managers, our mission is to help give the current and next generation of risk professionals in Japan an opportunity to acquire the skills they need to build fulfilling and successful careers.”

 

Learn more about the benefits of GARP Membership as well as all upcoming Chapter events at garp.org.

 

About the Global Association of Risk Professionals

The Global Association of Risk Professionals is a non-partisan, not-for-profit membership organization focused on elevating the practice of risk management. GARP offers the leading global certification for risk managers in the Financial Risk Manager (FRM®), as well as the Sustainability and Climate Risk (SCR®) Certificate and ongoing educational opportunities through Continuing Professional Development. Through the GARP Benchmarking Initiative and GARP Risk Institute, GARP sponsors research in risk management and promotes collaboration among practitioners, academics, and regulators.

 

Founded in 1996, governed by a Board of Trustees, GARP is headquartered in Jersey City, N.J., with offices in London and Hong Kong. Find more information on garp.org or follow GARP on LinkedIn, Facebook, and Twitter.

Contacts

press@garp.com

Categories
Business Lifestyle Regulations & Security Technology

Mobeus and Oblon collaborate on a non-headset genre of virtual reality

Mobeus, in collaboration with Oblon, has filed a portfolio of patent applications with the USPTO that will enable a new genre of virtual reality experiences that are accessible and inclusive to all

 

SPARTA, N.J. — (BUSINESS WIRE) — #AR—Mobeus, the innovative technology startup behind Airglass™, and Oblon, one of the world’s largest intellectual property law firms, have collaborated on a portfolio of patent applications with the United States Patent and Trademark Office (USPTO) and other international intellectual property regulatory bodies for a new genre of virtual reality (VR) that does not require any additional hardware such as (augmented reality) AR glasses or VR headsets. The collaboration began over two years ago and aims to create a more inclusive and accessible VR experience.

 

“Mobeus has taken a step forward in pioneering innovation that will transcend the current hardware limitations for virtual reality,” said Mike Sutcliff, co-founder and CEO at Mobeus. “It is exciting to enable users of any proficiency to reap the rewards of technology like we saw Tom Cruise used in the movie Minority Report. This portfolio of patents shows our commitment to being a forward-thinking tech company that will help customers deliver superior immersive and interactive experiences.”

 

“The portfolio includes inventions that add a ‘futuristic gesture-like experience’ to the outside of any computer and a ‘depth-like metaverse experience’ to the inside of any computer screen, without needing a headset,” said James Love, a partner at Oblon. He adds, “The first time I tried the prototype comprising the inventions was transformative; the connectedness you feel with your old screen is a new relationship between us and our existing devices.”

 

The eventual virtual smart glass technology will enable consumers to see and interact with any existing document, media, website, game, or app within the depth of the new virtual reality genre. The result is an interactive perception of depth surrounding a screen derived from the built-in camera on the device. The reach of this new path to virtual reality includes consumers who have existing devices but might need more hardware to experience current genres of virtual reality, such as AR and VR.

 

While putting the portfolio of applications into a broader context, Maryam Imam, Head of Intellectual Property at Mobeus, said, “Just like we all added a browser to our devices to see the Internet, we might add a virtual smart glass to our devices to see this new genre of virtual reality. Working with this team has been the highlight of my career; the team here is pioneering.”

 

The portfolio was developed by an international team of inventors, engineers, and designers. An introduction of the technology is available as Mobeus Airglass, a lite, immersive and interactive experience that mixes meetings and illustrations into a sense of depth around the screens of Apple Macs and Microsoft PCs.

 

“The inventors at Mobeus are truly on the cutting-edge, with a revolutionary innovation almost every week,” said Robert Tarcu, a partner at Oblon. “We at Oblon dedicate our one-of-a-kind staff and professional resources to help cultivate these innovations into an exciting portfolio.”

 

Mobeus will demonstrate the new virtual reality genre using a prototype of the company’s virtual smart glass technology at the World Economic Forum’s Annual Meeting in Davos, Switzerland. To learn more about Mobeus and its innovative product capabilities, please visit mobeus.com.

 

About Mobeus

Mobeus is an innovative technology startup based in Sparta, New Jersey. The company aims to reduce friction between people and technology by enabling a novel form of expression. Mobeus is a fully remote company with an international team of inventors, engineers, and designers passionate about creating products that deliver a superior creative experience. Their flagship product, Airglass, is a video and audio communications tool that creates a sense of depth on conventional screens, allowing users to mix people and applications simultaneously. At Mobeus, the team strives to develop cutting-edge technology and solutions that enhance humanity, positively impact relationships, and give people a new way of interacting in the digital world. Learn more at mobeus.com

 

About Oblon

Assisting clients for over 50 years, Oblon is one of the largest intellectual property law firms in the United States. Oblon’s professionals provide a full range of intellectual property services to some of the world’s leading innovators. Oblon is headquartered in Alexandria, Virginia within steps of the United States Patent and Trademark Office with an affiliate office in Tokyo, Japan. Visit oblon.com for more information on the firm.

Contacts

Fiana Tulip

Head of Communications, Mobeus

817.691.3031

fiana.tulip@mobeus.com

Categories
Business Healthcare

Best’s Special Report: Health insurers take more cautious approach to raising capital through debt in 2022

OLDWICK, N.J. — (BUSINESS WIRE) — Many publicly traded U.S. health insurance companies continue to carry elevated debt balances, although they have taken a more cautious approach to capital raising via debt issuance in 2022 given the rising interest rate environment, according to a new AM Best special report.

 

The Best’s Special Report, Health Insurers Take More Cautious Approach to Raising Capital Through Debt in 2022,” notes that health companies took advantage of the prolonged low interest rate environment to issue new debt to fund mergers and acquisitions (M&A), as well as refinance existing debt attached to higher interest rates. The 10 publicly traded U.S. health companies followed for this report have kept their appetite for long-term debt in check in 2022. According to the report, total debt and notes payable, as well as long-term debt, decreased slightly through the third quarter of 2022 compared with a five-year high at year-end 2021. However, at several companies, capital on a GAAP basis has declined due to the rising interest rates, which has led to unrealized losses on fixed-income portfolios from the drop in bond values.

 

“In their pursuit of vertical integration, many insurers have been taking on more debt to finance M&A since 2018, when debt rose more than 60%,” said Helen Andersen, industry analyst, AM Best. “The recent increase in the cost of debt has not yet changed the public health insurers’ commitment to M&A, especially as it relates to vertical integration build-up. Furthermore, a higher cost of debt may dampen the valuation of some assets and weaken the competition from parties such as private equity players.”

 

Earnings for most companies were strong in 2021 and the first three quarters of 2022. Although higher COVID-19 costs pressured profitability in the commercial segment, government business has been very strong, supported by elevated margins in the Medicaid segment due to the public health emergency and lack of eligibility checks. Insurers with diversified lines of business found themselves in a better financial position than carriers with revenue and earnings concentrations in the commercial segment. However, Medicaid redetermination will dampen Medicaid results when the public health emergency ends.

 

Despite strong overall earnings through third quarter 2022, sizable unrealized losses impacted capital and surplus negatively, which counterbalanced about a third of underwriting gains. Given the direction of interest rates, unrealized losses are likely to grow through the end of 2022 and into 2023.

 

As a result, AM Best expects the industry’s capitalization to decline in 2022, but remain solid, to support underwriting and investment risks. The decline due to unrealized losses is viewed as temporary in nature, and, as fixed-income holdings mature, insurers will have an opportunity to recover the losses and reinvest proceeds at a higher rate.

 

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=327908.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Helen Andersen
Industry Analyst
+1 908 439 2200, ext. 5722
helen.andersen@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Al Slavin

Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Culture Politics

Carnegie Reporter magazine’s Winter 2022 edition — The Voting Issue: People. Protections. Participation. — Focuses on the Power of our Electorate.

  • Governor Thomas H. Kean, former chair of the 9/11 Commission, calls for a return to bipartisanship as an antidote to political polarization
  • Brennan Center for Justice’s Michael Waldman writes about the central ideal of our founding: that government is legitimate only when it rests on the “consent of the governed”
  • Data journalist Mona Chalabi visualizes voter turnout with stunning finds for local elections
  • Historian Timothy Snyder, economist Sergei Guriev, and political scientist Daniel Treisman offer insights on tyranny and the rise of dictatorships
  • The Corporation’s Geri Mannion explains philanthropy’s responsibility to protect voting rights as central to the struggle for racial justice — and not just when there is an election
  • Journalist Judy Woodruff interviews Dame Louise Richardson about her lifetime of firsts, including being the first woman to lead Carnegie Corporation of New York as its new president

 

NEW YORK — (BUSINESS WIRE) — #WeHaveIdeas–At a time when many Americans are talking about our democratic ideals and the forces that both fortify and undermine them, the Winter 2022 edition of Carnegie Reporter magazine looks at how individuals and society can best advance two key values of American democracy: voter participation and voter protections.


The Voting Issue: People. Protections. Participation. was produced by the philanthropic foundation Carnegie Corporation of New York. The Winter 2022 edition of the magazine assesses challenges to democracy, such as political polarization, as well as possible solutions, such as universal civic duty voting, and celebrates some of the people who safeguard the voting system, ensuring its integrity at the federal, state, and local levels. The issue provides context and analysis through a breadth of articles written by Corporation leadership, grantees, academics, frontline practitioners, and others with deep knowledge of the subject, including a sense of what the future will likely hold.

 

The edition also provides an opportunity to get to know Dame Louise Richardson, the new president of Carnegie Corporation of New York and the first woman to lead the foundation. In an interview with Emmy Award–winning journalist and long-serving Corporation trustee Judy Woodruff, Richardson talks about her life of firsts, including being the first woman to lead both the University of Oxford and the University of St. Andrews; the role of philanthropy in society and in her own academic career; and the dangers of polarization and binary thinking. “The Augustinian precept audi alteram partem — listen to the other side — should be our motto,” commented Richardson.

 

“With a deep dive into the voter protections and participation that are needed to maintain and guarantee a healthy democracy, the latest issue of the Carnegie Reporter offers insights from experts –– including from our new president, Louise Richardson, a noted specialist on international terrorism and foreign policy –– on the challenges and opportunities for our American democracy,” said Julia Weede, the Corporation’s chief communications officer. “We also hear from former New Jersey governor Thomas H. Kean, chairman of the Corporation’s board of trustees, about the desperate need for politicians to overcome their hostile political divides. And we show you democracy in action through the images of American photojournalist Sue Dorfman, who brings us the extraordinary mosaic of this year’s election season.”

 

“Philanthropy has a long and distinguished record of standing up for the voting rights of vulnerable populations, including in recent decades, and we are pleased to publish this collection of the latest thinking and most effective work underway in the sector,” said Geri Mannion, managing director of the Corporation’s Strengthening U.S. Democracy program. “There is still more work to be done — as we are learning from the latest wave of efforts to suppress the vote. We believe that no matter what issues philanthropic organizations focus on, we will get better results if all Americans can participate equitably in our democracy and hold our government leaders accountable.”

 

Among the articles:

The Importance of Bipartisanship Thomas H. Kean, chairman of Carnegie Corporation of New York’s board of trustees, draws from his role as chair of the 9/11 Commission to make a case for a return to bipartisan collaboration, noting that we can start by respecting each other: “Only bipartisan efforts will stand the test of time and best serve this country’s needs.”

 

The Fight to Vote — It’s at the Heart of American History Michael Waldman, president of the Brennan Center for Justice, provides historical context, arguing that the struggle for voting rights is never over. “The fight for the vote over the years has been more than a clash of classes, parties, factions, races, and interests. It has been a long drive, stumbling, retreating, but ultimately in one direction: toward fulfilling that ideal.”

 

Protecting and Advancing the Right to Vote Due to the pandemic, the 2020 election was also one of the friendliest to voters, resulting in the highest voter turnout in more than a century. Since then, multiple states have passed laws making it harder to vote. The Corporation has funded nonprofits working on voting issues for more than 40 years. Learn how Corporation grantees helped achieve 2020’s record turnout and the range of strategies they are using in response to the changing conditions of voting in America.

 

How Could Universal Civic Duty Voting Improve American Democracy? Social policy expert and author Heather McGhee writes about how political campaigns in America would change, amid other consequences, if voter participation were required by law. Such a policy would give America a voting system where everyone would count, writes McGhee, and the electorate would look far more like America.

 

A Dozen Ways to Increase Voting in the United States E. J. Dionne Jr. and Miles Rapoport, coauthors of a book about universal civic duty voting, propose a list of reforms needed to lay the groundwork for successful implementation. They say federal law must promote changes in three areas: expanding opportunities to register, increasing options for voting, and strengthening effective election administration.

 

What Can Philanthropy Do to Protect and Expand Voting Rights? As a leading voice in the sector, the Corporation’s Geri Mannion writes, “The latest efforts to suppress the votes of Americans demand that philanthropies across issues, from environment and education to health care and economic justice, do more by continually supporting the expansion and protection of voting rights — and not just at election time.”

 

All Elections Matter: Vote! & Vote Local! Data journalist Mona Chalabi visualizes an overlooked disparity between voter turnout for national elections (66.8 percent) and local elections, such as school board races (5 to 10 percent). Locally elected school board members compose the largest group of elected officials in the U.S. Overseeing huge budget allocations, they make decisions that influence the safety, mental health, and teaching of more than 50 million public school students.

 

On the Line: Democracy in Action Center Point features the work of photojournalist Sue Dorfman. For decades, she has traveled the country documenting the power of the vote and the importance of participating in ways large and small to strengthen our democracy. From Arkansas to Ohio, from Maryland to Mississippi, the visual stories she’s captured are as varied as they are inspiring.

 

Additional highlights:

Andrew Carnegie Fellow and historian Timothy Snyder suggests 20 specific ways to defend democracy with an emphasis on individual actions; Andrew Carnegie Fellow and political scientist Daniel Treisman and economist Sergei Guriev look at what is driving a worldwide surge in the number of dictatorships, which now outnumber democracies; a profile of linguist Nana Aba Appiah Amfo, the first female vice-chancellor of the University of Ghana, charts the course of her distinguished career in academia, including fellowship support from the Corporation; and two New York City high school students talk about their experiences with grantee Transcend, a nonprofit that creates tools to elevate stakeholder voices in educational decision-making.

 

From the Corporation’s International Peace and Security program, grantees and experts offer brief perspectives on how Russia’s invasion of Ukraine is likely to alter the world order; and senior resident fellow Sharon K. Weiner explains the vital role of the nongovernmental sector in reducing nuclear threats and the need for public awareness of weapons programs and nonproliferation.

 

For more information, visit the online issue of the Carnegie Reporter. Subscribe to receive the print version of the magazine and the foundation’s newsletters — these resources for knowledge to inspire informed action are always free.

 

The Reporter has been the flagship “magazine of ideas” for Carnegie Corporation of New York for more than 20 years, assessing emerging trends and urgent challenges and offering ideas to inspire informed action because #WeHaveIdeas. Readers are encouraged to republish or excerpt articles by seeking permission from the foundation.

 

About Carnegie Corporation of New York. Carnegie Corporation of New York was established by Andrew Carnegie in 1911 to promote the advancement and diffusion of knowledge and understanding. In keeping with this mission, the Corporation’s work focuses on the issues that Carnegie considered of paramount importance: education, international peace, and a strong democracy. @CarnegieCorp

Contacts

Julia Weede

Chief Communications and Digital Strategies Officer

Carnegie Corporation of New York
JW@carnegie.org; 347-205-2932

Categories
Business International & World Lifestyle Regulations & Security

Celularity and CH Trading Group announce territory distribution agreement for the Middle East

CH Trading Group will serve as exclusive territories distributor in 100-plus countries with US $225 million minimum purchase commitment

Relationship opens access to Celularity’s Halal-Certified regenerative biomaterial, health and wellness products across the Middle East and the broader Islamic world

 

FLORHAM PARK, N.J. & RIYADH, Saudi Arabia & JEDDAH, Saudi Arabia — (BUSINESS WIRE) — Celularity Inc. (Nasdaq: CELU) (“Celularity”), a U.S.-based biotechnology company developing placental-derived allogenic cell therapies and biomaterial products, and CH Trading Group LLC (“CH Trading Group”), an international import, export and trading company, today announced that they have entered into an exclusive territory distribution agreement. CH Trading Group will act as the exclusive territories distributor of Celularity’s previously announced Halal-Certified products within more than 100 countries. The Product Distribution Agreement for Celularity’s Halal-Certified products provides for a five-year minimum aggregate purchase commitment of US $225 million dollars.

 

“Based on market demand for Celularity’s commercial biomaterial products, we believe there is a billion-dollar commercial opportunity across the Middle East North Africa Islamic markets,” said Sayed Zayan, CEO of CH Trading Group. “We are excited to be in a position to expand access to these important medicines and wellness products to more people across the region through our exclusive territories distributor agreement with Celularity.”

 

According to the most recent analysis by Emergent Research, the worldwide regenerative medicine market totaled US $9.80 billion in 2021, and is anticipated to grow at a revenue compounded annual growth rate of 15.9 percent, reaching US $37.10 billion in 2030.

 

Through the agreement, CH Trading Group will distribute to more than 100 countries that are members of or associated with the following intergovernmental organizations (“Islamic Markets”):

  • The Organization of Islamic Cooperation, which has 57 member countries on four continents;
  • The Gulf Cooperation Council, comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates; and
  • The African Union, which has 55 member countries.

 

“Our partnership with the CH Group represents another critical milestone towards bringing our innovative Halal-Certified – under globally recognized Circle H International Inc. standards – regenerative biomaterial products to treat degenerative disease across Islamic Markets,” said Celularity’s CEO, Chairman and Founder, Robert J. Hariri, M.D., Ph.D.

 

Celularity’s suite of biomaterial products include:

  • Biovance®, a decellularized, dehydrated human amniotic membrane derived from the placenta of a healthy, full-term pregnancy. Biovance® is an intact, extracellular matrix structure that is indicated for use in the United States as a natural scaffold to support the body’s wound healing process.
  • Biovance® 3L and Biovance® 3L Ocular, tri-layer human amniotic membrane products focused on the surgical and ocular markets and available in both sheet and disk form.
  • Interfyl®, a human connective tissue matrix derived from the placenta of a healthy, full-term pregnancy. It is indicated for use in the United States to replace or supplement damaged or inadequate integumental tissue resulting from wounds, trauma, or surgery.
  • CentaFlex®, a decellularized human placental matrix derived from the umbilical cord that is indicated for use in the United States as a surgical covering, wrap or barrier to protect and support the repair of damaged tissue.

 

About Celularity

Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a U.S.-based biotechnology company leading the next evolution in cellular medicine by developing allogeneic cryopreserved off-the-shelf placental-derived cell therapies, including therapeutic programs using unmodified natural killer (NK) cells, genetically modified NK cells, T-cells engineered with a CAR (CAR-T cells), and mesenchymal-like adherent stromal cells (MLASCs). These therapeutic programs target indications in cancer, infectious and degenerative diseases. In addition, Celularity develops and manufactures innovative biomaterials also derived from the postpartum placenta. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.

 

To learn more, visit www.celularity.com.

 

About CH Trading Group

CH Trading Group LLC (“CH Trading”) is part of the CH Group family of companies (www.chgroupus.com). CH Group constitutes a diversified conglomerate targeting eight economic “Sectors”: healthcare, pharmaceuticals, food, finance, cosmetics, tourism, fashion, media/entertainment. Spanning a variety of multi-national products, services and solutions, its world mission involves connecting, developing and promoting, from Local to Global™ and throughout the world, all aspects of a wholesome, healthy and productive lifestyle.

 

CH Trading focuses on international import/export and trade, prioritizing the countries of the Organization of Islamic Cooperation (OIC), as well as the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) Regions. It has responded to worldwide demands for identifying and securing supply chains by introducing innovative products, including from the US, and developing a robust distribution network for goods.

 

To learn more, visit www.chgroupus.com.

 

Celularity Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995, as well as 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. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied statements regarding the market opportunity for Celularity’s products; growth in the worldwide regenerative biomaterial market; timing of receipt of approvals from regulatory authorities; Celularity’s ability to establish a presence and operate in Saudi Arabia and Islamic Markets, develop opportunities for commercial stage regenerative biomaterial products and investigational products in Saudi Arabia, Islamic Markets and broader global markets, as well as establish its biobanking business in Saudi Arabia and Islamic Markets, among others. Many factors could cause actual results to differ materially from those described in these forward-looking statements, including but not limited to: the inherent risks in biotechnological development, including with respect to the development of novel cellular therapies, and the clinical trial and regulatory approval process; and risks associated with Celularity’s current liquidity, as well as developments relating to Celularity’s competitors and industry, along with those risk factors set forth under the caption “Risk Factors” in Celularity’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 31, 2022, as amended on July 15, 2022, and other filings with the SEC. These risks and uncertainties may be amplified by current economic situations, including inflation, supply chain issues and overall economic uncertainty. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, these forward-looking statements reflect Celularity’s current expectations, plans, or forecasts of future events and views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking statements should not be relied upon as representing Celularity’s views as of any subsequent date, and Celularity undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contacts

Media
Celularity:
Edelman Smithfield for Celularity

Celularity@edelmansmithfield.com

Investor Relations
Celularity:
Edelman Smithfield for Celularity

CelularityIR@edelmansmithfield.com

Categories
Business Digital - AI & Apps

ExtensisHR announces new enhancements to Work Anywhere™ mobile application

Features include multiple language functionality, additional manager capabilities, and more

 

WOODBRIDGE, N.J. — (BUSINESS WIRE) — #HR—ExtensisHR, a nationally recognized Professional Employer Organization (PEO) and HR Outsourcing (HRO) services provider, announces greater enhancements and functionality of its Work Anywhere™ mobile application. While the state-of-the-art app already offers mobile users fast, real-time access to their important HR services, this latest version is specifically tailored to better serve a diverse customer base and reflect the concierge-level of service ExtensisHR is known for, including:

  • Multiple language functionality: Users can now set their preferred language to English or Spanish and easily toggle between both in the “settings” tab
  • View per-pay-period contributions: Easily see their medical, dental, and vision contributions and covered dependents if applicable
  • New manager and administrator capabilities: Ability to select an employee from their team list and view high-level details such as date of hire, birthdate, resident address, and more

 

Other recent additions have been designed to deliver superior performance, convenience, and security, and allow users to:

  • Utilize their device’s facial or fingerprint recognition to log in and access their account
  • Customize the frequency of multi-factor authentication (MFA) prompting
  • Change address information for a primary residence, mailing, or W-2 delivery address
  • Update or add direct deposit information

 

“We are always looking to create better experiences for our customers and their employees,” said Joe Catapano, Chief Information Officer at ExtensisHR. “And as people continue to seek out effective ways of working in a world where agility and convenience are supreme, we’re confident that these updates will provide exactly what today’s modern worker craves. Whether it’s the ability to easily view their per-pay health insurance deductions, or choosing their preferred language of English or Spanish, the Work Anywhere™ app provides personalization at the click of a button.”

 

Accessible for both iPhone and Android devices, ExtensisHR’s Work Anywhere™ app is available for download now in the Apple App Store and the Google Play Store.

 

About ExtensisHR

Founded in 1997, ExtensisHR is a leading national Certified Professional Employer Organization (PEO) and HR Outsourcing (HRO) solution provider, focused on delivering exceptional customer service. We specialize in tailored HR solutions for small- and medium-sized businesses, with a comprehensive portfolio including human resources, benefits, payroll, Work Anywhere™ technology, risk and compliance, employee management, recruiting, and more. To learn more or to become a broker or business partner, visit: www.extensishr.com, or follow us on LinkedIn, Twitter, Facebook, and YouTube.

Contacts

Media:
ExtensisHR

Stephanie Clark

sclark@extensishr.com
732-236-5224

Categories
Business Culture

Celularity and CH Trading Group announce product distribution agreement with Tamer Group to be the exclusive distributor for the Kingdom of Saudi Arabia

Tamer Group will be the exclusive distributor of the Celularity branded biomaterial products in Saudi Arabia, opening access to Celularity’s Halal-Certified regenerative biomaterial, health and wellness products

 

FLORHAM PARK, N.J. & RIYADH, Saudi Arabia — (BUSINESS WIRE) — Celularity Inc. (Nasdaq: CELU) (“Celularity”), a U.S.-based biotechnology company developing placental-derived allogenic cell therapies and biomaterial products, and CH Trading Group LLC (“CH Trading Group”), an international import, export and trading company, today announced that they have entered into an exclusive distribution agreement with the Tamer Group (“Tamer”). The Tamer Group, a leading Middle East healthcare distribution company, will be the exclusive distributor for Celularity’s branded regenerative biomaterial products in Saudi Arabia.

“Celularity’s Halal-Certified regenerative biomaterial products enable Tamer to realize our fundamental ambitions of contributing to personal wellness and public health, as well as supporting Saudi Arabia’s Vision 2030 plan for healthcare innovation and development,” said Tamer Group Chairman & Managing Partner, Ayman Tamer.

 

“We are looking forward to partnering with Celularity and CH Group on this exciting opportunity across Saudi Arabia and providing unprecedented access to these cutting-edge therapeutics to all members of the community,” stated Dr. Yasser Khattab, Tamer Group Healthcare CEO.

 

According to the most recent analysis by Emergent Research, the worldwide regenerative medicine market was US $9.80 billion in 2021, and is anticipated to grow at a revenue compounded annual growth rate of 15.9% to reach US $37.10 billion in 2030.

 

“Saudi Arabia is a prime market for Celularity’s commercial regenerative biomaterial products,” said CEO of CH Trading Group, Sayed Zayan. “We are excited to partner with Tamer Group and to be a part of fulfilling their commitment to the development of the Kingdom’s healthcare sector.”

 

Through the agreement, CH Trading Group will distribute to more than 100 countries that are members of or associated with the following intergovernmental organizations (“Islamic Markets”):

  • The Organization of Islamic Cooperation, which has 57 member countries on four continents;
  • The Gulf Cooperation Council, comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates; and
  • The African Union, which has 55 member countries.

 

“Today’s announcement marks an important next step in Celularity’s Islamic Markets strategy, to bring our innovative Halal-Certified – under globally recognized Circle H International Inc. standards – regenerative biomaterial products to treat degenerative disease into the Saudi Arabia market,” said Celularity’s CEO, Chairman and Founder, Robert J. Hariri, M.D., Ph.D. “This is an important validation of our unique business model, which creates multiple cellular therapeutics, advanced biomaterials and derivatives from the single source material, and our proprietary manufacturing processes.”

 

Celularity’s suite of biomaterial products include:

  • Biovance®, a decellularized, dehydrated human amniotic membrane derived from the placenta of a healthy, full-term pregnancy. Biovance® is an intact, extracellular matrix structure that is indicated for use in the United States as a natural scaffold to support the body’s wound healing process.
  • Biovance® 3L and Biovance® 3L Ocular, tri-layer human amniotic membrane products focused on the surgical and ocular markets and available in both sheet and disk form.
  • Interfyl®, a human connective tissue matrix derived from the placenta of a healthy, full-term pregnancy. It is indicated for use in the United States to replace or supplement damaged or inadequate integumental tissue resulting from wounds, trauma, or surgery.
  • CentaFlex®, a decellularized human placental matrix derived from the umbilical cord that is indicated for use in the United States as a surgical covering, wrap or barrier to protect and support the repair of damaged tissue.

 

It is anticipated that these biomaterial products are to become available in Saudi Arabia in 2023 following receipt of approval from the Saudi Food and Drug Authority. Tamer is expected to be Celularity’s and CH Group’s local strategic partner for Celularity’s Lifebank business model for placenta and cord blood banking, as well as for a new Serum Banking business and other potential research and development collaborations.

 

About Celularity

Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a U.S.-based biotechnology company leading the next evolution in cellular medicine by developing allogeneic cryopreserved off-the-shelf placental-derived cell therapies, including therapeutic programs using unmodified natural killer (NK) cells, genetically modified NK cells, T-cells engineered with a CAR (CAR-T cells), and mesenchymal-like adherent stromal cells (MLASCs). These therapeutic programs target indications in cancer, infectious and degenerative diseases. In addition, Celularity develops and manufactures innovative biomaterials also derived from the postpartum placenta. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.

 

To learn more, visit www.celularity.com.

 

About CH Trading Group

CH Trading Group LLC (“CH Trading”) is part of the CH Group family of companies (www.chgroupus.com). CH Group constitutes a diversified conglomerate targeting eight economic “Sectors”: healthcare, pharmaceuticals, food, finance, cosmetics, tourism, fashion, media/entertainment. Spanning a variety of multi-national products, services and solutions, its world mission involves connecting, developing and promoting, from Local to Global™ and throughout the world, all aspects of a wholesome, healthy and productive lifestyle.

 

CH Trading focuses on international import/export and trade, prioritizing the countries of the Organization of Islamic Cooperation (OIC), as well as the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) Regions. It has responded to worldwide demands for identifying and securing supply chains by introducing innovative products, including from the US, and developing a robust distribution network for goods.

 

To learn more, visit www.chgroupus.com

 

About Tamer Group

Tamer Group is a leading healthcare, beauty care, prestige products, fast-moving consumer goods, and third-party logistics company that caters to the Saudi and Middle Eastern communities’ rising demands. Importing, distribution, promotion, marketing, and manufacturing are the Group’s main businesses.

 

Tamer Group, based in Jeddah, Saudi Arabia, provides services to many of the world’s leading companies through a variety of agreements, partnerships, and joint ventures. Because of its distinctive approach to business, service, and customer portfolio, the company has established a special position in the Saudi market.

 

To learn more, visit www.tamergroup.com

 

Celularity Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995, as well as 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. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied statements regarding the market opportunity for Celularity’s products; growth in the worldwide regenerative biomaterial market; timing of receipt of approvals from regulatory authorities; Celularity’s ability to establish a presence and operate in Saudi Arabia and Islamic Markets, develop opportunities for commercial stage regenerative biomaterial products and investigational products in Saudi Arabia, Islamic Markets and broader global markets, as well as establish its biobanking business in Saudi Arabia and Islamic Markets, among others. Many factors could cause actual results to differ materially from those described in these forward-looking statements, including but not limited to: the inherent risks in biotechnological development, including with respect to the development of novel cellular therapies, and the clinical trial and regulatory approval process; and risks associated with Celularity’s current liquidity, as well as developments relating to Celularity’s competitors and industry, along with those risk factors set forth under the caption “Risk Factors” in Celularity’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 31, 2022, as amended on July 15, 2022, and other filings with the SEC. These risks and uncertainties may be amplified by current economic situations, including inflation, supply chain issues and overall economic uncertainty. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, these forward-looking statements reflect Celularity’s current expectations, plans, or forecasts of future events and views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking statements should not be relied upon as representing Celularity’s views as of any subsequent date, and Celularity undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contacts

Media

Celularity:
Edelman Smithfield for Celularity

Celularity@edelmansmithfield.com

Investor Relations


Celularity:
Edelman Smithfield for Celularity

CelularityIR@edelmansmithfield.com

Categories
Business Lifestyle Technology Travel & Leisure

Marotta Controls celebrates 80 years of technology innovation

New Jersey’s Homegrown Aerospace and Defense Supplier Credits Speed, Agility, and Community for Its Legacy of Success

 

MONTVILLE, N.J. — (BUSINESS WIRE) — #NewJersey—Marotta Controls, a rapidly growing aerospace and defense supplier based in New Jersey, celebrated its 80th anniversary. President and CEO Patrick Marotta took the opportunity to recognize his team members’ talent, passion, and creativity that has contributed to decades of innovation in Flow Control, Control Systems, and Power Electronics.


“I am humbled by the commitment demonstrated by our staff year after year. Marotta Controls began as a straight-forward production company focused on quality. Together, we took that business and evolved it into a world-class solutions provider,” said Patrick, the third-generation leader of the family-owned company.

 

“We don’t shy away from sharing customer risk or challenge. Instead, we remain nimble. We lean in and collaborate with them as a trusted partner. We help them quickly bring to market technologies that positively impact their performance and operations. It’s an incredible position to be in and one I owe to our teams then and now.”

 

Marotta Controls was founded as a machined components manufacturer by Patrick’s grandfather on January 06, 1943, in Boonton, New Jersey. An opportunity to help Reaction Motors solve a design challenge led to the company’s first major innovation: the balanced poppet solenoid valve. That valve’s technology, though improved upon since its first iteration, still serves as the foundation for the company’s cornerstone products today.

 

Since the moment it opened its doors, Marotta Controls has played a supporting role in significant events throughout aerospace history. The company supplied valve systems for the Saturn Apollo program that landed a man on the moon. It designed fluid control technologies for the first intercontinental ballistic missile, the first Polaris submarine, the first jetliner, the first Tiros weather satellite, and more.

 

Those elegant valve solutions inspired Marotta Controls to expand its capabilities into complementary areas. The company applied its knowledge to reimagining electromechanical motor drives, power supplies, and actuation systems among other products—additions that led to significant growth over the last decade. The bar was raised yet again with Marotta Controls’ introduction of a patented additive manufacturing technique that allows the supplier to produce finely intricate solutions that were previously impossible to build via traditional machine boring methods.

 

“Our innovations have flown to space. They have descended deep into the ocean. And, they have sped through the air at supersonic speeds. These incredible achievements would not have been possible without the talent and support sourced from our home state. Our primary facility is still located in Montville, New Jersey, where my grandfather began this business 80 years ago. We do it all there. Innovate. Design. Build. Test. And, while we have recently expanded to a second New Jersey location, I envision that Montville facility standing as our home base for the next 80 years. There’s a lot more to come,” added Patrick.

 

About Marotta Controls

Founded in 1943, Marotta Controls is a fully integrated solutions provider which designs, develops, qualifies, and manufactures innovative systems and sub-systems for the aerospace and defense sectors. Our portfolio includes pressure, power, motion, fluid, and electronic controls for tactical systems, shipboard and sub-sea applications, satellites, launch vehicles, and aircraft systems. With over 200 patents, Marotta Controls continues to build on its legacy as a highly respected, family-owned small business based in the state of New Jersey. Twitter: @marottacontrols LinkedIn: Marotta Controls, Inc.

Contacts

Heather Ailara

211 Communications

+1.973.567.6040

heather@211comms.com

Katee Glass

Marotta Controls, Inc.

kglass@marotta.com