Heres How This Nurse Paid Off $1M Of Debt In Just Over 2 Years – Forbes

When Naseema McElroy completed her Masters in nursing in her early 30s, she was set to make a good living in the Bay area, where nurse salaries can reach well into the six figures. She also expected her remaining balance of her $186,000 in student loans to be paid off in a decade, under a student loan forgiveness program.

Fast-forward three years to 2015, and she couldnt seem to get ahead. Something clicked, she said, it is this $1,900 a month [Im] paying to student loans.

She came to the realization that she would have to put her life on hold for the seven remaining years before the loan forgiveness program kicked in. Even then, it mostly would have just covered interest, based on the peak of her payback plan. The pay off didnt add up.

McElroy paid off nearly $1 million in debt in just over two years by figuring out what she could ... [+] live without.

This thought set her down a path to pay off all of her debt, which at the time reached nearly $1 million if you include her mortgage, in just over two years. Using a mix of her real estate, the flexibility with her job as a nurse and some tactical strategies to reduce her costs, she has managed to free herself from the debt.

With nearly 45 million Americans living in student loan debt and the average person having $38,000 in any kind of debt, excluding mortgages, the pull to rid oneself of the monthly payments is strong. But its more than that. In a survey, TIAA and the MIT Lab found that 73% of respondents said that the student loan impact has forced them to put off maximizing their retirement savings, while one-in-four arent saving at all due to the debt load.

For those that seek financial independence (FI) or want to retire early, the ability to get rid of the debt as fast as possible, in order to start funneling cash into savings is step number one. For McElroy, her debt strategy has allowed her to save nearly $200,000 in the two years since she became debt free. Heres how she did it.

Unloading Her Inconvenient Home

Living in the Bay area will naturally come with some large expenses. Among McElroys debt load, more than half came from the $575,000 she owed on her mortgage. Not many would be willing to give up the home in order to pay off the debt and it wasnt originally part of the plan, she said.

But then she started to evaluate her experience with the house. It wasnt in a convenient location, creating an almost hour commute. On top of that, it wasnt close to her family, making it difficult to see them on a regular basis. Not to mention, all the extra costs that come with keeping up a home. In the end, she felt it made more sense for her to list the house, use the proceeds to pay off the rest of the student loans, and then rent elsewhere.

After selling the house with about a $100,000 profit, she paid off the remaining student loan debt. Between selling her condo that she rented out in L.A. in 2015 and listing her home, she was able to reduce her real estate debt exposure by nearly $650,000 while earning about $200,000 in profit.

As for housing, she eventually settled in Oakland, renting a house. But she convinced her landlord to allow them to sublease the basement, cutting her rent by 36%.

The Pay-Down Plan

The student loans, however, were the last piece of her debt that McElroy paid off. She had taken out a 403b loan in order to afford the initial down payment on her house, along with a car, which she still owed about $25,000 on and some other personal debt.

McElroy paid off her smallest debts first, finally finishing off her student loan debt after the ... [+] sale of her home.

When she sold her condo, it was these payments she first paid off. She chose to go that route, before attacking the student loans, for two reasons. First, shes an acolyte of the snowball method to pay back debt, attacking the smallest one first. But she also struggled with the notion of the student loans, since she was part of the loan forgiveness program.

What changed her mind? In 2016 and 2017, her income kept growing higher, which meant her payments had to increase. I only saw the payment getting higher and it felt stifling, McElroy said.

With basic math, she realized her average payment would mean the program would only forgive the interest. She could avoid the interest by simply paying back the loan. From 2015 to 2017, every extra penny went to the loan. By the time she sold her house, she only had a little more than $19,000 left to repay on the student loans.

Nursing Provides Her FI Flexibility

Since paying off her debt, McElroy has launched a podcast, Nurses on FIRE, where she explains tricks and tactics that nurses can use to expedite their financial independence. Shes taken her own savings efforts to the next level, increasing her total savings to about 10% of her $2 million FI goal.

But she also explains that her career allows her a level of flexibility to increase or decrease how much she wants to work, depending on whats needed at the time.

There are so many ways to maximize my income, she said, by either increasing her shifts or adding another job, like filling in for nurses that have left on maternity leave.

Working three days a week, it also allows her ample time to grow what she hopes becomes bigger revenue streams with her blog, Financially Intentional, and podcast. But she doesnt worry about the retire early notion of FIRE.

Instead shes tackling ways that she can scale back, increase her hours, travel abroad or other tactics open to nurses.

Theyre strategies shes testing and pursuing, since she doesnt have to worry about a large payment accruing interest due at the end of each month.

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Heres How This Nurse Paid Off $1M Of Debt In Just Over 2 Years - Forbes

Playing Net Game With Serena Williams: Rapid Replies On Success, Investing And Business – Forbes

Randall Lane with Serena Williams at Forbes Under 30 Summit 2019.

In a time machine, where would historys greatest female athlete travel? I would go see what Jesus was up to or Moses part the Red Sea.

How many more years will Serena Williams compete at tennis? However much longer Roger Federer plans on playing.

If not tennis, what sport would she pursue? Golf. I can hit it really far; it just doesnt go in a straight line.

The same applies to Serena Williams career, as in recent years the 38-year-old, 23-time Grand Slam winner made career moves off the path that built her a $225 million fortune over the past two decades. Keynoting the Forbes Under 30 Summit in Detroit on October 28, Williams discussed the motivations and lessons behind her forays into fashion, investing and advocacyand indulged the young entrepreneurial audience in rapid Q&A, akin to rallying at the net.

Williams revealed a few of her favorite investments since she entered the venture capital game five years ago and has dropped money into 34 companies. Meal-prep subscription service Gobble and Alchemy 43, a Drybar-like destination for Botox and filler treatments, to name two, exhibit Serena Ventures focus on underfunded demographics: Only 2.3% of funding went to women-led startups in 2018, according to Pitchbook.

If Im the boss, Im going to give other people opportunities that normally wouldn't have had opportunities. Because I know what its like, she said. Or the narrative is never going to change.

The first athlete to make Forbes annual list of Richest Self-Made Women, Williams also discussed financial independence before a crowd of nearly 5,000 20- and 30-something professionals at Detroits Masonic Temple and a partnership aimed at reframing another narrative. A partnership with the Allstate Foundation, the Purple Purse initiative promotes financial empowerment as a rescue for victims of domestic violence. Research indicates that financial abuse occurs in 99% of domestic violence cases and is a primary reason victims stay in unsafe, unhealthy relationshipsperhaps one individual is preventing the other person from working or from accessing bank accounts.

We have to make those uncomfortable topics comfortable in order to make change, she said onstage with Forbes Chief Content Officer Randall Lane as National Domestic Violence Awareness Month draws to a close, an occasion for which Williams designed a handbag and a backpack for Purple Purse.

Serena Williams and Randall Lane in the at Forbes Under 30 Summit 2019, held in Detroit's Masonic ... [+] Temple.

Thats but one avenue where her professional portfolio beyond sport has ventured into fashion. Serena apparel line debuted in 2018 with affordable items ranging from dresses to denim to blazers, inspired by early sewing skills she and sister Venus learned from their mother in their Compton, California upbringing.

I think people definitely underestimate me, but thats what makes me most dangerous.

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Playing Net Game With Serena Williams: Rapid Replies On Success, Investing And Business - Forbes

1 in 5 middle-class Singaporeans wont survive a month if they lose their jobs, survey finds – Business Insider

Half of all middle-class Singaporeans dont have enough savings to cover six months of expenses if they lose their job and onein five say they wont even last a month, according to a report by financial comparison site GoBear.

The report, published on Friday (Nov 1), surveyed1,028 middle-class Singaporeans aged between 18 and 65 on their attitudes toward personal finance. It did not define what middle-class meant.

The survey found that local respondents top three financial priorities weresaving money, achievingfinancial independence, and creating an emergency fund.

Read also:Half of Singapore is in the worlds richest 10% and 226,000 people are among the elite 1%

However, 45 per cent of respondents admitted they did not have enough savings to cover half a years worth of expenses, with 21 per cent adding they couldnt live beyond a month if they lost their main source of income.

Stashing away six months worth of salary in an emergency fund is a common piece of financial advice to guard against retrenchment or sudden expenses such as medical bills.

GoBear citedfinancial risk management expert Wong Kon How as saying this was because most Singaporeans assets were locked away inproperty and CPF accounts.

Wong added that this monthly expenditure could have been influenced by pressure to keep up appearances and becoming accustomed to a certain quality of life.

The report also found that found thatSingaporean respondents owned about nine financial products on average higher than respondents of similar surveys in Hong Kong, Thailand, and Indonesia.

Respondents here also hadhigher levels of financial knowledge compared to their Asian counterparts.

Despite this, almost half the Singapore respondents werepessimistic about their financial future, and feltfinancially insecure.About 55 per cent of respondents said the rising cost of living in Singapore outpaced their earnings.

When asked about growing their wealth, one in three said they did not know how to do so.A quarter said they believed investing was risky, and one in five still keptcash at home in piggy banks.

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1 in 5 middle-class Singaporeans wont survive a month if they lose their jobs, survey finds - Business Insider

Gloucestershire Police and Crime Commissioner reveals new approach aimed at tackling shoplifters – Punchline Gloucester

Retailers across Gloucestershire have welcomed new proposals put forward by the county's Police and Crime Commissioner aimed at reducing shoplifting.

Around 50 of the county's most prominent retail businesses were represented at the launch of a report into retail crime produced by Martin Surl's office.

The 33-page review painted a picture of retail crime up nationally by 25% since the turn of the century and highlighted many of the reasons for it.

In it, the PCC mapped out a new approach that will commit Gloucestershire Police to: investigate every retail theft and simplifying the way retailers are able to report crime.

It also sets out to establish Crime Prevention Advisors to improve links with businesses, improve information sharing and improve partnership working.

PCC Martin Surl said "Shop theft is considered attractive because of its accessibility and low detection rate. But it is not the victimless crime it is often perceived to be.

"Unfortunately, this is compounded by a police response which can only be described as 'patchy' due to an approach which has given priority to crimes considered to be more serious.

"This is a flawed approach. Every crime matters and what might seem trivial today can often lead to something much more serious tomorrow ".

The manager of Gloucester retailers' organisation 'City Safe' Steve Lindsay said, "The PCC's report is fantastic. It's honest; it's factual. It's what we've waiting years for."

Detective Superintendent Steve Bean, Gloucestershire Constabulary's Head of Investigations answered questions from retailers and promised to look into their complaints.

He told them, "The OPCC has conducted research both locally and nationally and you can't disagree with any of the recommendations.

"The PCC is right. Every crime does matter and it's clear to me the quality of investigation is nowhere near to where it should be.

"We've become oblivious to how bad the police response has been and be under no illusion we intend to address it".

Cheltenham BID Director Kevin Blackadder said, "It was a really good idea to bring together a number of businesses quite clearly concerned about the levels of retail crime.

"It gave them the opportunity to make it clear how they're suffering from crime that's not just a business problem but a society problem.

"I'm pleased the police recognise shoplifting can lead to more serious crime and their commitment to report back in six months".

To read the retail crime review in full on the OPCC website, Safer Days and Nights priority pages - https://www.gloucestershire-pcc.gov.uk/priorities/safer-days-and-nights-for-all/

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Gloucestershire Police and Crime Commissioner reveals new approach aimed at tackling shoplifters - Punchline Gloucester

What if we turned off the spigot of grief?: Tom Wetzel and Denise DeBiase – cleveland.com

Guest columnists Tom Wetzel and Denise DeBiase are certified law enforcement executives with close to 60 years of combined police experience.

Having collectively been police officers for over half a century, we, like cops everywhere, have seen and felt plenty of the damage caused by criminal activity. It is easy to wonder what more we can do to prevent or measurably reduce it.

The phrase We have met the enemy, and they are us is a good starting point.

What we mean by that is quite simple. Our appetite for pleasure can often be found in the form of vice crimes. These personal choices can have mind-boggling consequences for so many others. There may be debate on whether these types of activities should even be classified as crimes, as they often seem to be victimless on their face. But dig deeper, and you will see that these actions create a victim count beyond measure.

Drug use and prostitution are two such vices that both of us know have caused incalculable pain and have resulted in far-reaching criminal activity and suffering.

What would happen if we could find a way to reduce or eradicate our weaknesses toward certain behaviors like these? What if we turned off the spigot on criminal profits because our collective self-discipline suppressed demand? How much could we reduce crime not just in America, but across the entire world?

Anyone who has watched movies has probably seen a major motion picture that dramatized the life of real or fictionalized drug traffickers and how rich they got off the addictions of others. And now we are watching the loss of life in staggering numbers due to heroin and fentanyl overdoses.

How do we get people to stop? It is a complex matter, but we could start with a deeper understanding about how much suffering is caused when we decide to find pleasure or relieve pain through a mind-altering substance.

That same suffering is also caused when someone decides to solicit sex. Many may argue that there is a significant demand that must be met. But the woman who prostitutes herself isnt doing it for fun. Shes doing it for money. But that cash has a huge price tag, which includes exposure to sexually transmitted diseases, cruel physical violence, addiction to drugs and a battered soul.

Were certain these women didnt wake up one day and decide this was the best thing for them to do.

How do women who prostitute themselves mentally recover? For the most part, many wont, or the healing may take decades. As a society, we havent helped them enough. We need to find opportunities to help women avoid the poisonous siren call of prostitution, as well as provide opportunities to heal and nurture these exploited souls.

Another way is to find innovative ways to stifle the demand and let these customers understand that their actions are caustic and burn many around them.

We know that suppressing desires for pleasure or for pain avoidance is easier said than done. But an empathetic society will recognize that it holds the power within its individual members to snuff out so much criminal activity, simply by making them more aware that choices have consequences beyond the person looking in the mirror.

Have something to say about this topic? Use the comments to share your thoughts, and stay informed when readers reply to your comments by using Notification Settings (in blue) just below.

Readers are invited to submit Opinion page essays on topics of regional or general interest. Send your 500-word essay for consideration to Ann Norman at anorman@cleveland.com. Essays must include a brief bio and headshot of the writer. Essays rebutting todays topics are also welcome.

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What if we turned off the spigot of grief?: Tom Wetzel and Denise DeBiase - cleveland.com

Retailers welcome proposals to tackle shoplifting | Wilts and Gloucestershire Standard – Wilts and Gloucestershire Standard

Retailers have welcomed new proposals aimed at reducing shoplifting in Gloucestershire.

Around 50 of the countys most prominent businesses were represented at the launch of a report into retail crime produced by the Office of the Police and Crime Commissioner (OPCC).

PCC Martin Surl said Shop theft is considered attractive because of its accessibility and low detection rate. But it is not the victimless crime it is often perceived to be.

Unfortunately, this is compounded by a police response which can only be described as patchy due to an approach which has given priority to crimes considered to be more serious.

This is a flawed approach. Every crime matters and what might seem trivial today can often lead to something much more serious tomorrow.

You can read the retail crime review on the OPCC website at gloucestershire-pcc.gov.uk/priorities/safer-days-and-nights-for-all/

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Retailers welcome proposals to tackle shoplifting | Wilts and Gloucestershire Standard - Wilts and Gloucestershire Standard

Quantum computers: why Google, NASA and others are putting their chips on these dream machines – World Economic Forum

In 1936, Alan Turing proposed the Turing machine, which became the foundational reference point for theories about computing and computers. Around the same time, Konrad Zuse invented the Z1 computer, considered to be the first electromagnetic binary computer.

What happened next is history, and in our world today, computers are everywhere. Our lives are dramatically different from how they were even at the end of the 20th century, and our mobile phones have far more powerful CPUs than desktop computers did only few years ago. The advent of the Internet of Things brings computer power into every minute detail of our lives. The world wide web has had such a transformative effect on society that many people can't even remember a life before they were online.

The major catalyst behind this transformation was the discovery of silicon, and its use in the production of good transistors. This occurred over a period of more than 100 years, dating from when Michael Faraday first recorded the semiconductor effect in 1833, via Morris Tanenbaum, who built the first silicon transistor at Bell Labs in 1954, to the first integrated circuit in 1960.

We are about to embark on a similar journey in our quest for building the next-generation computer. Quantum physics, which emerged in the early 20th century, is so powerful and yet so unlike anything known before that even the inventors had a hard time understanding it in detail.

In the early 1980s, Richard Feynman, Paul Benioff and Yuri Manin provided the groundwork for a completely new paradigm of quantum computing, introducing the idea that quantum computing had the potential to solve problems that classical computing could not. And so quantum computing came into its own.

Peter Shor published an algorithm in 1994 capable of efficiently solving problems in cryptography that are hard to solve for classical computers that is, the vast majority of computers used today. In fact, Shor's algorithm continues to threaten the fundaments of most encryption deployed across the globe.

The problem was that, in 1994, there was no quantum computer in sight. In 1997, the first tiny quantum computer was built, but the field really took off only when the Canadian startup D-Wave revealed its 28-qubit quantum computer in 2007.

Similar to the trajectory of non-quantum communication, which took more than 100 years from discovery to mass use, quantum computers are now maturing very quickly. Today, many players are engaged in a battle over who can build the first powerful quantum computer. These include commercial entities such as IonQ, Rigetti, IBM, Google, Alibaba, Microsoft and Intel, while virtually all major nation states are spending billions of dollars on quantum computing development and research.

Quantum computers are powerful yet so difficult to build that whoever can crack the code will have a lasting powerful advantage. This cannot be understated. Heres a striking example of the power of quantum computing.

Quantum leaps: growth over the years

Image: Statista

To break a widely used RSA 2048-bit encryption, a classical computer with one trillion operations per second would need around 300 trillion years. This is such a long time that we all feel very safe.

A quantum computer using Shor's algorithm could achieve the same feat in just 10 seconds, with a modest 1 million operations per second. That's the power of quantum computers: 300 trillion years versus 10 seconds.

Another reason why nation states pour so much money into the field is precisely because, with it being so difficult, any achievement will directly yield a lasting advantage.

So where are quantum computers today, and where are they headed?

Considering the immense challenges to building quantum computers, I'd say we are roughly where we were in around 1970 with classical computers. We have some quantum computers, but they are still pretty unreliable compared to today's standard. We call them NISQ devices - Noisy Intermediate-Scale Quantum devices. Noisy because they are pretty bad, and intermediate-scale because of their small qubit number. But they work. There are a few public quantum computers available for anyone to programme on. IBM, Rigetti, Google and IonQ all provide public access with open-source tools to real quantum computing hardware. IBM even sells a quantum computer that you can put in your own data centre (the IBM Q System One).

But these are not yet powerful enough to break RSA 2048-bit keys, and probably won't be for another 10 to 20 years.

The comparison date of 1970 works from another angle, too. In October 1969, researchers sent the first message over the internet (it was called ARPANET then). When they tried to send the one word "login", the system crashed after sending "l" and "o". It later recovered and the message was successfully sent.

Today, we are also building a quantum communication system that doesn't communicate bits and bytes, but quantum states that quantum computers can understand. This is important so that we can build up a quantum version of the internet.

D-Wave, NASA, Google and the Universities Space Research Association created the D-Wave 1,097-qubit quantum computer.

Image: Reuters/Stephen Lam

It is also important as a way of encrypting communication, since the quantum channel provides some inherent physical guarantees about a transmission. Without going into too much detail, there is a fundamental property whereby the simple act of wiretapping or listening into a communication will be made detectable to the parties communicating. Not because they have a fancy system setup, but because of fundamental properties of the quantum channel.

But quantum computers are not just useful for cryptography applications and communication. One of the most immediate applications is in machine-learning, where we are already today on the cusp of a quantum advantage meaning that the quantum algorithm will outperform any classical algorithm. It is believed that quantum advantage for machine-learning can be achieved within the next 6-12 months. The near-term applications for quantum computing are endless: cryptography, machine-learning, chemistry, optimization, communication and many more. And this is just the start, with research increasingly extending to other areas.

Google and NASA have just announced that they have achieved 'quantum supremacy'. That is the ability of quantum computers to perform certain tasks that a classical computer simply cannot do in a reasonable timeframe. Their quantum computer solved a problem in 200 seconds that would take the worlds fastest supercomputer 10,000 years.

The problem that was solved is without any practical merits or implications, yet it demonstrates the huge potential quantum computers have and the ability to unlock that potential in the coming years.

This opens up a completely new era where we can now focus on building quantum computers with practical benefits and while this will still be many years away, it will be the new frontier in computation.

License and Republishing

World Economic Forum articles may be republished in accordance with our Terms of Use.

Written by

Andreas Baumhof, Vice President Quantum Technologies, QuintessenceLabs

The views expressed in this article are those of the author alone and not the World Economic Forum.

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Quantum computers: why Google, NASA and others are putting their chips on these dream machines - World Economic Forum

Microsoft CEO says Azure Quantum will address the big challenges in computing – GeekWire

Microsoft CEO Satya Nadella introduces the companys new initiatives in quantum computing at the Microsoft Ignite conference in Orlando, Fla. (Microsoft Video)

Microsoft CEO Satya Nadella today took the wraps off Azure Quantum, a full-stack, cloud-based approach to quantum computing that he said would play well with traditional computational architectures.

With all the capacity we have around computing, we still have many unsolved problems, whether its around food safety, or climate change, or the energy transition, Nadella said at the Microsoft Ignite conference in Orlando, Fla. These are big challenges that need more computing. We need general-purpose quantum.

While classical computers deal in binary bits of ones and zeroes, quantum computers can take advantage of spooky physics to process quantum bits or qubits that can represent multiple values simultaneously.

For years, Microsoft and its rivals have been laying the groundwork for general-purpose quantum computing hardware and software. Microsoft has previously announced some elements of its strategy, including its Q# programming language and Quantum Development Kit, but today Nadella put all the pieces together.

A private preview of Azure Quantum is due to be launched in the coming months, with the Microsoft Quantum Network serving as the primary point of contact for developers and startups. Well have a variety of hardware solutions that are all going to be open in Azure, Nadella said.

Microsofts hardware partners include IonQ and Honeywell, which are working on quantum computing systems based on trapped ions; as well as Quantum Circuits Inc., which uses Lego-like assemblies of superconducting circuits.

Nadella said Azure Quantum will offer a complete toolkit of open-source software including Microsofts Q# and QDK, as well as 1QBits software platform and services.

End-to-end quantum computing based on Microsofts topological qubit architecture may not yet be ready for prime time, but Nadella highlighted a quantum on classical approach, in which quantum tools are used alongside classical computation to optimize the algorithms for simulating complex phenomena.

Weve seen, in fact, many use cases already, across health care, across finance and the electrical grid as well, Nadella said.

He threw a video spotlight on a medical diagnostic technique called magnetic resonance fingerprinting, which is being pioneered by Case Western Reserve University and the Cleveland Clinic.

The technique uses quantum-inspired algorithms to optimize MRI scans, based on the patients precise position inside the scanner. Once the scan is done, the 3-D visualization can be viewed using Microsofts HoloLens augmented-reality headset.

Working with Azure has given us improvement in speed and about a 30% improvement in precision, Mark Griswold, a professor of radiology at CWRU, said on the video. The results were getting are allowing us to see diseases earlier than befor, and to quantify the treatments that were giving.

Other early users include:

Microsoft isnt alone in efforts to explore the frontiers of quantum computing. D-Wave Systems, which is headquartered in Burnaby, B.C., has been developing a cloud-based service that takes advantage of a special-purpose optimization technology known as quantum annealing.

Meanwhile, IBM, Google and other heavyweights of the computer industry are neck-and-neck with Microsoft in the race to create general-purpose quantum devices. Just a couple of weeks ago, Google researchers and their partners published a research paper claiming that they had achieved quantum supremacy over classical computation for a specific algorithm that generates random numbers.

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Microsoft CEO says Azure Quantum will address the big challenges in computing - GeekWire

Other voices: Welcome to the age of Quantum computing – St. Paul Pioneer Press

Has the era of quantum computing finally dawned? In a field long plagued by hype and hubris, theres reason for some cautious optimism.

A team of scientists at Googles research lab announced last week in the journal Nature that they had built a quantum computer that could perform calculations in about 200 seconds that would take a classical supercomputer some 10,000 years to do. An age of quantum supremacy was duly declared.

Rather uncharitably, IBM researchers were quick to point out that the feat was less than advertised. They estimated that by using all of the hard disk space at the worlds most powerful classical computer, the Summit OLCF-4 at Oak Ridge National Laboratory, they could do the same calculation in 2.5 days, not 10,000 years. Googles claim to have achieved quantum supremacy that is, to have accomplished a task that traditional computers cant was premature.

This was to miss the bigger picture: A rudimentary quantum machine has improved on the fastest supercomputer ever built by a factor of 1,080 an immense achievement by any measure. Although the specific problem that Googles computer solved wont have much practical significance, simply getting the technology to work was a triumph; comparisons to the Wright brothers early flights arent far off the mark.

So is the world prepared for what comes next?

Quantum computers, to put it mildly, defy human intuition. They take advantage of the strange ways that matter behaves at the subatomic level to make calculations at extraordinary speed. In theory, they could one day lead to substantial advances in materials science, artificial intelligence, medicine, finance, communications, logistics and more. In all likelihood, no one has thought up the best uses for them yet.

They also pose some risks worth paying attention to. One is that the global race to master quantum computing is heating up, with unpredictable consequences. Last year, President Donald Trumps administration signed a $1.1 billion bill to prioritize the technology, which is a decent start. But the U.S. will need to do more to retain its global leadership. Congress should fund basic research at labs and universities, ensure the U.S. welcomes immigrants with relevant skills, invest in cutting-edge infrastructure, and use the governments vast leverage as a consumer to support promising quantum technologies.

A more distant worry is that advanced quantum computers could one day threaten the public-key cryptography that protects information across the digital world. Those systems are based on hard math problems that quantum computers might theoretically be able to crack with ease. Security researchers are well aware of the problem, and at work on creating post-quantum systems and standards. But vigilance and serious investment is nonetheless called for.

No doubt, the quantum-computing era will have its share of false starts, dashed hopes and fiendishly difficult problems to overcome. As Google is showing, though, thats how technology advances: bit by bit, into a very strange future.

Bloomberg Opinion

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Other voices: Welcome to the age of Quantum computing - St. Paul Pioneer Press

Opinion | Quantum supremacy and the cat thats neither alive nor dead – Livemint

There is this joke about a cat that belonged to a gentleman called Schrdinger: Schrdingers cat walks into a bar. And doesnt."

If you chuckled, you must have been a student of quantum physics. Austrian physicist Erwin Schrdingers Cat Theory is a paradox that explains the seeming contradiction between what we see with our naked eye and what quantum theory says actually is in its microscopic state. He used this to disprove something called the Copenhagen Interpretation" of quantum mechanics. This interpretation states that a particle exists in all states at once until observed". Schrdingers cat is in a box and could be alive or dead. But, till the box is opened, you wont know its state. This would mean that the cat could be both alive and dead at the same time.

Now, hold that thought while we leap from cats to computers. The ones that we use now follow the principles of a Turing machine. Here, information is encoded into bits (either 1s or 0s) and one can apply a series of operations (and, or, not) to those bits to perform any computation. A quantum computer is different, it uses qubits or the quantum analogue of bits. Now, jump back to the cat. Much like the feline in Schrdingers box, a qubit is not always 0 or 1, but can be both at the same time. Only at the end of the computation or when the box is opened, would you know which, but during the computation process, its exact state is indeterminate.

If this leaves you scratching your head, do not fret. In a 2017 Wall Street Journal interview, here is what Bill Gates said: I know a lot of physics and a lot of math. But the one place where they put up slides and it is hieroglyphics, its quantum." Even Einstein had some difficulty grasping the concept and famously dismissed it with, God does not play dice with the universe."

What makes a quantum computer exciting is its ability to exploit these properties of quantum physics to perform certain calculations far more efficiently and faster than any supercomputer. Thus, megacorps such as Microsoft, IBM, and Google have been working on quantum computers. Last week, Google claimed to have achieved quantum supremacy, or the point when such a computer can perform a calculation that a traditional one cannot complete within its lifetime. Googles quantum computer took 200 seconds for a calculation that would take a supercomputer 10,000 years.

While all this is impressive, what does it mean for us? Its hard to fully answer this, as we are venturing into an entirely new area, and the future will reveal applications we have not even imagined yet. Its a bit like classical computing. We did not know how it will totally revolutionize our world. In the same manner, quantum computing could be a game-changer for many industries.

Take big data and analytics. We produce 3 exabits of data every day, equivalent to 300,000 Libraries of Congress. Classical computers are reaching their limits of processing power. However, with exponentially more powerful quantum computers, we could spot unseen patterns in large data sets, integrate data from different data sets, and tackle the whole problem at once. This would be rocket fuel for artificial intelligence (AI), with quantum computing offering quick feedbacks and collapsing the learning curve of machines. This will make AI more intuitive, expand to various industries and help build artificial general intelligence.

Online security will be impacted, with our current data encryption strategies wilting under the assault of quantum power. On the other hand, there will be formidable new cryptographic methods like quantum key distribution, where even if the message gets intercepted, no one can read it (the Cat, again). On a side note, the security of every public blockchain will be under threat from quantum hacks. It was no coincidence that Bitcoins price slumped the day Google announced its breakthrough. Quantum computing could speed up drug development by reviewing multiple molecules simultaneously, quickly sequencing individual DNAs for personalized drugs. Another application lies in weather forecasting and, more importantly, climate-change predictions. It will require the tremendous power of quantum computing to create complex, ever-changing weather models to properly predict and respond to the climate cataclysm that awaits us.

Its a brave new world of quantum computing were entering, and we will discover its possibilities as we go along. If you feel youve got it but are still confused, thats okayit is the nature of this beast. Just step out of the box.

Jaspreet Bindra is a digital transformation and technology expert, and the author of the book The Tech Whisperer

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Opinion | Quantum supremacy and the cat thats neither alive nor dead - Livemint

IBM picked a fight with Google over its claims of ‘quantum supremacy.’ Here’s why experts say the feud could shake up the tech industry’s balance of…

Most people probably couldn't tell you what quantum computing is. And, as we learned last week from an unusual public spat between tech companies, it turns out that the top quantum-computing engineers aren't so sure either.

It all started when Google researchers published a paper in the journal Nature declaring that they achieved "quantum supremacy" a breakthrough in computing speed so radical that, to use a fictional analogy, it might be akin to attaining hyperspace travel speed.

But before the champagne had even been poured, IBM was disputing Google's claims with a blog post, insisting that, technically,"quantum supremacy" hadn't really been reached.

Quantum computers have special properties that allow them to solve problems exponentially faster than even the most powerful computers today. Google researchers said their quantum computer solved a problem in 200 seconds that would take a powerful supercomputer 10,000 years to solve a potential game changer for fighting climate change, discovering drugs, predicting the stock market, and cracking the toughest encryption.

Quantum computing is still in its infant stages, and you won't find it in your office anytime soon, but investors and researchers see huge potential in it. Already, companies like Google, IBM, Microsoft, and Intel are racing tobuild quantum computers, while venture capitalists are pouring money into startups like IonQ, Rigetti Computing, Aliro, and D-Wave.

The feud between IBM and Google is in many ways academic. But it also highlights the prominence and importance within the industry of a technology considered science fiction just a decade ago. As computing technology gets pushed to its limits, new technology like quantum computing has the potential to open entirely new markets and shake up the balance of powers in the tech industry.

And while Google and IBM are taking different approaches to quantum, the rival claims underscore the seriousness with which each company views the technology.

"Google is doing things as a research project," Brian Hopkins, the vice president and principal analyst at Forrester, told Business Insider. "IBM has a commercial strategy, pouring money in to get money out. They want to get to a point where quantum computers are powerful enough so people are willing to pay money to solve problems."

At the same time, rivals like Microsoft, Intel, and quantum-computing startups are lauding Google's experiment and see it as a good sign for quantum computing.

Jim Clarke, Intel's director of quantum hardware, with one of the company's quantum processors. Intel

"We're beginning to have a discussion that a quantum computer can do something that a supercomputer does not," Jim Clarke, the director of quantum hardware at Intel, told Business Insider. "It motivates us that we're on the right path. There's still a long way to go to get to a useful quantum computer. I think this is a positive step along the way."

Computer experts told Business Insider it would take time to prove whether Google did, in fact, reach this benchmark and whether IBM's disputes were correct.

IBM, which built Summit, the most powerful supercomputer, said the experiment could be run by a supercomputer in 2 1/2 days, as opposed to the 10,000 years Google said would be required with a traditional computing technology.

In other words, even though Google's quantum computer is faster, if it were true that the supercomputer could run that same problem in 2 1/2 days, it would not be that large of a difference. Running a problem that takes 10,000 years to solve is impractical, but if it took 2 1/2 days to solve, it would not be that big of a deal.

"The conflict between Google and IBM highlights that there's some ambiguity in the definition of quantum supremacy," Bill Fefferman, an assistant professor of computer science at the University of Chicago, told Business Insider.

Still, Google's work shows the progress of quantum computing, and people shouldn't lose sight of that, despite the arguments about it, Martin Reynolds, the distinguished vice president at Gartner, said.

That being said, since quantum computing is still in its early days, Google's milestone is "a bit like being the record holder in the 3-yard sprint," Reynolds said.

Fefferman added that the "jury is still out" on whether Google has actually reached quantum supremacy, but not because of anything IBM said.

"While it's not completely clear to me that there's currently enough evidence to conclude that we've reached quantum supremacy, Google is certainly breaking new ground and going places people have not gone before," Fefferman said.

And though Google's experiment is a "major scientific breakthrough," it has little influence on commercial users today, Matthew Brisse, the research vice president at Gartner, said.

"It demonstrates progress in the quantum community, but from an end-user perspective, it doesn't change anyone's plans or anyone's project initiatives because we're still many years away," Brisse told Business Insider. "We're literally five to 10 years away from using this in a commercial production environment."

In general, IBM and Google's competitors told Business Insider they saw the experiment as a step forward.

"This is an exciting scientific achievement for the quantum industry and another step on a long journey towards a scalable, viable quantum future," a Microsoft spokesperson said in a statement.

Rigetti Computing CEO Chad Rigetti. YouTube/Y Combinator

Chad Rigetti, the founder and CEO of the startup Rigetti Quantum Computing, called Google's experiment a "remarkable achievement" that should give researchers, policymakers, investors, and other users more confidence in quantum computing.

He added that IBM's claims haven't been tested on actual hardware yet, and even if it were proved, it would still be slower and more expensive to run than on Google's quantum computer.

"The Google experiment is a landmark scientific achievement and the most important milestone to date in quantum computing," Rigetti told Business Insider. "It shows that real commercial applications are now within sight for superconducting qubit systems."

Clarke, of Intel, agreed that it was a positive for the quantum community overall, though he said that calling it "quantum supremacy" might be debatable. Clarke also said that it could show that quantum computers could be more efficient, as he suspects that Google's quantum computer uses much less power than running a Summit supercomputer for over two days.

"What's been interesting to me is seeing some of the negative reactions to this announcement," Clarke told Business Insider. "If you're in the quantum community, any good experiment that suggests there's a long future in quantum computing should be appreciated. I haven't quite understood some of the negative response at this point."

What happens next is that other scientists will review the paper, work to prove or disprove it, and debate whether quantum supremacy has been reached. Ines Montano, an associate professor of applied physics at Northern Arizona University, said IBM would likely work to prove that its supercomputer could run that experiment in a shorter time frame.

"IBM will have to figure out something to put some data to their claim," Montano told Business Insider. "That will be a very public discussion for a while. In the meantime, there's the quest is to find problems that may be more applicable to current things ... We're not as far away as we were thinking 10 years ago."

This will likely take some time, as quantum supremacy is difficult to prove. Still, quantum computing is still in its early stages, experts say, and they expect more advancements in the coming years. Experts predict that the industry is still at least 10 years away from useful quantum computers.

"Google's managed to find a complex problem that they can solve on this system," Reynolds told Business Insider. "It isn't a useful solution, but it is a big step forwards. IBM offers a way to solve the problem with classical hardware in a couple of days. That's also impressive and shows the caliber of thinking that we find in these early quantum programs."

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IBM picked a fight with Google over its claims of 'quantum supremacy.' Here's why experts say the feud could shake up the tech industry's balance of...

Volkswagen : optimizing traffic flow with quantum computers – Quantaneo, the Quantum Computing Source

Volkswagen is launching in Lisbon the world's first pilot project for traffic optimization using a quantum computer. For this purpose, the Group is equipping MAN buses of the city of Lisbon with a traffic management system developed in-house. This system uses a D-Wave quantum computer and calculates the fastest route for each of the nine participating buses individually and almost in real-time. This way, passengers' travel times will be significantly reduced, even during peak traffic periods, and traffic flow will be improved. Volkswagen is testing its traffic optimization system during the WebSummit technology conference in Lisbon from November 4 to 8 - during the conference, buses will carry thousands of passengers through the city traffic in Lisbon.

Martin Hofmann, Volkswagen Group CIO, says: 'At Volkswagen, we want to further expand our expert knowledge in the field of quantum computing and to develop an in-depth understanding of the way this technology can be put to meaningful use within the company. Traffic optimization is one of the potential applications. Smart traffic management based on the performance capabilities of a quantum computer can provide effective support for cities and commuters.'

Vern Brownell, CEO of D-Wave, says: 'Volkswagen's use of quantum computing to tackle pervasive global problems like smart traffic management is an example of the real-world impact quantum applications will soon have on our cities, communities, and everyday lives. Since we built the first commercial quantum computer, D-Wave has been focused on designing systems that enable quantum application development and deliver business value. Volkswagen's pilot project is among the first that we know of to make production use of a quantum computer, and their ongoing innovation brings us closer than ever to realizing true, practical quantum computing.'

System includes two components: passenger number prediction and route optimization

The Volkswagen traffic management system includes two components - passenger number prediction and route optimization by quantum computing. For predictions, the development team from Volkswagen is using data analytics tools to identify stops with especially high passenger numbers at certain times. For this purpose, anonymized geo-coordinates and passenger flow data are used. The objective is to offer as many people as possible tailor-made transport possibilities and to ensure optimum utilization of the bus fleet.

For the pilot project in Lisbon, 26 stops were selected and connected to form four bus links. For example, one of these runs from the WebSummit conference facility to the Marqus de Pombal traffic node in the city center.

The Volkswagen team intends to continue the development of this prediction component. The idea is that bus operators should add temporary links to their scheduled services to serve stops with the largest passenger numbers. This would be a meaningful approach for major events in the city area, for example.

The Volkswagen experts have developed a quantum algorithm for route optimization between the stops. This algorithm calculates the fastest route for each individual bus in the fleet and optimizes it almost on a real-time basis. In contrast to conventional navigation services, the quantum algorithm assigns each bus an individual route. This way, each bus can drive around traffic bottlenecks along the route at an early stage and avoid traffic jams before they even arise.

The experts from Volkswagen expect this development to have a further positive effect. As the buses travel along individually optimized routes which are calculated to ensure that they can never cause congestion themselves, there will be a general improvement in traffic flow within the city.

Volkswagen intends to develop the system to market maturity

In the future, Volkswagen plans to develop its traffic optimization system to market maturity. For this reason, the Volkswagen developers have designed the system so that it can generally be applied to any city and to vehicle fleets of any size. Further pilot projects for cities in Germany and other European countries are already being considered. Volkswagen believes that such a traffic optimization system could be offered to public transport companies, taxi companies or fleet operators.

Volkswagen and quantum computing

Volkswagen is cooperating with its technology partners D-Wave and Google, who provide the experts with access to their computer systems. In 2016, the Volkswagen team already successfully demonstrated congestion-free route optimization for taxis in the Chinese capital Beijing. Since then, the development of the algorithm has been steadily continued and it has been protected by patents in the USA.

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Volkswagen : optimizing traffic flow with quantum computers - Quantaneo, the Quantum Computing Source

What Are the Biggest Challenges Technology Must Overcome in the Next 10 Years? – Gizmodo

Technologys fineI definitely like texting, and some of the shows on Netflix are tolerablebut the fields got some serious kinks to work out. Some of these are hardware-related: when, for instance, will quantum computing become practical? Others are of more immediate concern. Is there some way to stop latently homicidal weirdos from getting radicalized online? Can social networks be tweaked in such a way as to not nearly guarantee the outbreak of the second Civil War? As AI advances and proliferates, how can we stop it from perpetuating, or worsening, injustice and discrimination?

For this weeks Giz Asks, weve assembled a wide-ranging panelof futurists, engineers, anthropologists, and experts in privacy and AIto address these and many other hurdles.

Professor of Electrical Engineering and Computer Science and Director of the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT

Here are some broad societal impact challenges for AI. There are so many important and exciting challenges in front of upI include a few I have been thinking about:

1) virtual 1-1 student-teacher ratios for all childrenthis will enable personalized education and growth for all children

2) individualized healthcarethis will deliver medical attention to patients that is customized to their own bodies

3) reversing climate changethis will take us beyond mapping climate change into identifying ways to repair the damage; one example is to reverse engineer photosynthesis and incorporate such processes into smart cities to ameliorate pollution

4) interspecies communicationthis will enable us to understand and communicate with members of other species, for example to understand what whales are communicating through their song, etc

5) intelligent clothing that will monitor our bodies (1) to ensure we live well and (2) to detect the emergence of a disease before the disease happens

And here are some technical challenges:

1) interpretability and explainability of machine learning systems

2) robustness of machine learning systems

3) learning from small data

4) symbolic decision making with provable guarantees

5) generalizability

7) machine learning with provable guarantees

8) unsupervised machine learning

9) new models of machine learning that are closer to nature

Anthropologist and Research Director at the Centre National de la Recherche Scientifique, Institut Jean Nicod, Paris; Co-Founder of the Centre for the Resolution of Intractable Conflict, University of Oxford, and author of Talking to the Enemy: Faith, Brotherhood and the (Un)Making of Terrorists

How to tell the difference between real vs fake, and between good vs harmful so that we can prevent harmful fake (malign) activity and promote what is real and good?

Malign social media ecologies (hate speech, disinformation, polarizing and radicalizing campaigns, etc.) have both bottom-up and top-down aspects, each of which is difficult to deal but together stump most counter efforts. These problems are severely compounded by exploitation of cognitive biases (e.g., their tendency to believe in messages that conform to ones prior believes and to disbelieve messages that dont), and also by exploitation of cultural belief systems (e.g., gaining trust, as in the West, based on accuracy, objectivity, validation and competence vs. gaining trust, as in most of the rest of the world, based on respect, recognition, honor, and dignity) and preferences (e.g., values associated with family, communitarian, nationalist, traditional mores vs. universal, multicultural, consensual, progressive values).

Malign campaigns exploit psychological biases and political vulnerabilities in the socio-cultural landscape of nations, and among transnational and substate actors, which has already led to new ways of resisting, reinforcing and remaking political authority and alliances. Such campaigns also can be powerful force multipliers for kinetic warfare and affect economies. Although pioneered by state actors, disinformation tools are now readily available to anyone or any group with internet access to deploy at low cost. This democratization of influence operations, coupled with democracies vulnerabilities owing to political tolerance and free speech, requires our societies to create new forms of resilience as well as deterrence. This means that a significant portion of malign campaigns involve self-organizing bottom-up phenomena that self-repair. Policing and banning on any single platform (Twitter, Facebook, Instagram, VKontake, etc.) can be downright counterproductive, with users going to back doors even being banned, jumping between countries, continents and languages, and eventually producing global dark pools, in which illicit and malign online behaviors will flourish.

Because large clusters that carry hate speech or disinformation arise from small, organic clusters, it follows that large clusters can hence be reduced by first banning small clusters. In addition, random banning of a small fraction of the entire user population (say, 10 percent) would serve the dual role of lowering the risk of banning many from the same cluster, and inciting a large crowd. But if, indeed, States and criminal organizations with deep offline presence can create small clusters almost at will, then the problem becomes not one of simply banning small clusters or a small fraction of randomly chosen individuals. Rather, the key involves identifying small clusters that initiate a viral cascade propagating hate or malign influence. Information cascades follow a heavy-tailed distribution, with large-scale information cascades relatively rare (only 2 percent > 100 re-shares), with 50 percent of shares in a cascade occurring within an hour; so the problem is to find an appropriate strategy i to identify an incipient malign viral cascade and apply counter measures well within the first hour

There is also a layering strategy evident in State-sponsored and criminally-organized illicit online networks. Layering is a technique where links to disinformation sources are embedded in popular blogs, forums and websites of activists (e.g., environment, guns, healthcare, immigration, etc.) and enthusiasts (e.g., automobiles, music, sports, food and drink, etc.). These layering-networks, masquerading as alternative news and media sources, regularly seek bitcoin donations. Their block chains show contributions made by anonymous donors in orders of tens of thousands of dollars at a time, and hundreds of thousands of dollars over time. We find that these layering-networks often form clusters linking to the same Google Ad accounts, earning advertising dollars for their owners and operators. Social media and advertising companies often have difficulty identifying account owners linked with illicit and malign activity, in part because they often appear to be organic and regularly pass messages containing a kernel of truth. How, then, to detect layering-networks (Breitbart, One America News Network, etc.), symbols (logos, flags), faces (politicians, leaders), suspicious objects (weapons), hate speech and anti-democracy framing & as suspicious?

Finally, knowledge of psychology and cultural belief systems are needed to train the data that technology uses to mine, monitor, and manipulate information. Overcoming malign social media campaigns ultimately relies on human appraisal of strategic aspects, such as importance of core values and the stakes at play (political, social, economic), and relative strengths of players in those stakes. The critical role of social science goes beyond the expertise of engineers, analysts, and data scientists that platforms like Twitter, Instagram, and Facebook use to moderate propaganda, disinformation, and hateful content.

Yet, an acute problem concerns overwhelming evidence from cognitive and social psychology and anthropology, that truth and evidenceno matter how logically consistent or factually correctdo not sway public opinion or popular allegiance as much as appeals to basic cognitive biases that confirm deep beliefs and core cultural values. Indeed, many so-called biases used in argument do not reflect sub-optimal or deficient reasoning but rather suggest their efficient (even optimal) use for persuasionan evolutionarily privileged form of reasoning to socially recruit others to ones circle of beliefs for cooperation and mutual defense. Thus, to combat false or faulty reasoningas in noxious messagingits not enough to target an arguments empirical and logical deficiencies versus a counterarguments logical and empirical coherence. Moreover, recent evidence suggests that warning about misinformation has little effect (e.g., despite advanced warning, yes voters are more likely than no voters to remember a fabricated scandal about a vote no campaign, and no voters are more likely to remember a fabricated scandal about a vote yes campaign). Evidence is also mounting that value-driven, morally focused information in general, and social media in particular not only drives readiness to believe, but also concerted actions for beliefs.

One counter strategy involves compromising ones own truth and honesty, and ultimately moral legitimacy, in a disinformation arms race. Another is to remain true to the democratic values upon which our society is based (in principle if not practice), never denying or contradicting them, or threatening to impose them on others.

But how to consistently expose misleading, false, and malicious information while advancing truthful, evidence-based information that never contradicts our core values or threatens the core values of others (to the extent tolerable)? How to encourage people to exit echo chambers of the like-minded to engage in a free and open public deliberation on ideas that challenge preconceived or fed attitudes, a broader awareness of what is on offer and susceptibility to alternatives may be gained however initially strong ones preconception or fed history?

Professor, Mechanical Engineering, MIT, whose research focuses on quantum information and control theory

The two greatest technological challenges of our current time are

(a) good cellphone service, and

(b) a battery with the energy density of extra virgin olive oil

I need say no more about (a). For (b) I could have used diesel fuel instead of olive oil (they have similar energy densities), but I like the thought of giving my computer a squirt of extra virgin olive oil every time it runs out of juice.

Since you are also interested in quantum computing Ill comment there too.

Quantum computing is at a particularly exciting and maybe scary moment. If we can build large-scale quantum computers, they would be highly useful for a variety of problems, from code-breaking (Shors algorithm), to drug discovery (quantum simulation), to machine learning (quantum computers could find patterns in data that cant be found by classical computers).

Over the past two decades, quantum computers have progressed from relatively feeble devices capable of performing a few hundred quantum logic operations on a few quantum bits, to devices with hundreds or thousands of qubits capable of performing thousands to tens of thousands of quantum ops.

That is, we are just at the stage where quantum computers may actually be able to do something useful. Will they do it? Or will the whole project fail?

The primary technological challenge over the next few years is to get complex superconducting quantum circuits or extended quantum systems such as ion traps or quantum optical devices to the point where they can be sufficiently precisely controlled to perform computations that classical computers cant. Although there are technological challenges of fabrication and control involved, there are well-defined paths and strategies for overcoming those challenges. In the longer run, to build scalable quantum computers will require devices with hundreds of thousands of physical qubits, capable of implementing quantum error correcting codes.

Here the technological challenges are daunting, and in my opinion, we do not yet possess a clear path to overcoming them.

Quantitative futurist, Founder of the Future Today Institute, Professor of Strategic Foresight at New York University Stern School of Business, and the author, most recently, of The Big Nine: How the Tech Titans and Their Thinking Could Warp Humanity

The short answer is this: We continue to create new technologies without actively planning for their downstream implications. Again and again, we prioritize short-term solutions that simply never address long-term risk. We are nowists. Were not engaged in strategic thinking about the future.

The best example of our collective nowist culture can be seen in the development of artificial intelligence. Weve prioritized speed over safety, and longer-term strategy over short-term commercial gains. But were not asking important questions, like what happens to society when we transfer power to a system built by a small group of people that is designed to make decisions for everyone? The answer isnt as simple as it may seem, because we now rely on just a few companies to investigate, develop, produce, sell, and maintain the technology we use each and every day. There is tremendous pressure for these companies to build practical and commercial applications for AI as quickly as possible. Paradoxically, systems intended to augment our work and optimize our personal lives are learning to make decisions that we, ourselves, wouldnt. In other caseslike warehouses and logisticsAI systems are doing much of the cognitive work on their own and relegating the physical labor to human workers.

There are new regulatory frameworks for AI being developed by the governments of the US, Canada, EU, Japan, China, and elsewhere. Agencies like the U.S.-based National Institute of Standards and Technology are working on technical standards for AI, but that isnt being done in concert with similar agencies in other countries. Meanwhile, China is forging ahead with various AI initiatives and partnerships that are linking together emerging markets around the world into a formidable global network. Universities arent making fast, meaningful changes to their curricula to address ethics, values and bias throughout all of the courses in their AI programs. Everyday people arent developing the digital street smarts needed to confront this new era of technology. So they are tempted to download fun-looking, but ultimately suspicious apps. Theyre unwittingly training machine learning systems. Too often, they are outright tricked into allowing others to access untold amounts of their social, location, financial, and biometric data.

This is a systemic problem, one that involves our governments, financiers, universities, tech companies and even you, dear Gizmodo readers. We must actively work to create better futures. That will only happen through meaningful collaboration and a global coordination to shape AI in way that benefits companies and shareholders, but also prioritizes transparency, accountability and our personal data and privacy. The best way to engineer systematic change is to treat AI as a public good.

University Distinguished Professor, Chicago-Kent College of Law, Illinois Institute of Technology, whose work focuses on the impact of technologies on individuals, relationships, communities, and social institutions

Technologies from medicine to transportation to workplace tools are overwhelmingly designed by men and tested on men. Rather than being neutral, technologies developed with male-oriented specs can cause physical harm and financial risks to women. Pacemakers are unsuited to many women since womens hearts beat faster than mens and that was not figured into the design. Because only male crash test dummies were used in safety ratings until 2011, seat-belted women are 47% more likely to be seriously harmed in car accidents. When men and women visit help wanted websites, the technological algorithms direct men to higher-paying jobs. Machine learning algorithms designed to screen resumes so that companies can hire people like their current top workers erroneously discriminate against women when those current workers are men.

Womens hormones are different than mens, causing some drugs to have enhanced effects in women and some to have diminished effects. Even though 80% of medications are prescribed to women, drug research is still predominantly conducted on men. Between 1997 and 2000, the FDA pulled ten prescription drugs from the market, eight of which were recalled because of the health risks they posed to women.

On the other hand, some treatments may be beneficial to women, but never brought to market if the testing is done primarily on men. Lets say that a drug study enrolls 1000 people, 100 of whom are women. What if it offers no benefit to the 900 men, but all 100 women are cured? The researchers will abandon the drug, judging that it is only 10% effective. If a follow-up study focused on women, it could lead to a new drug to the benefit of women and the economy.

Workplace technologies also follow a male model. Female surgeons in even elite hospitals have to stack stools on top of one another to stand high enough to undertake laparoscopic surgeries. Their lesser hand strength causes them to have to use both hands to operate tools that male surgeons operate with one, leading female surgeons to have more back, neck and hand problems than men. Nonetheless, the patients of female surgeons do better than those of men. Imagine the health gain to the patients (and their female surgeons) if technologies were designed to accommodate women as well as men.

Female fighter pilots wear g-suits designed in the 1960s to fit men. These too-large suits do not provide adequate protection for women against g-forces, which can lead to a sudden loss of color vision or a full blackout as blood begins to rush from their brain. The zippers generally dont unzip far enough to comfortably fit the female bladder device, which causes some female pilots not to drink before missions, potentially leading to blackouts from dehydration. Other military equipment poses safety and efficacy risks to women. Designing with women in mindsuch as the current work on exoskeletonscan benefit both female and male soldiers by providing protection and increasing strength and endurance.

Id like to see the equivalent of a Moon Shota focused technology research programthat tackles the issue of women and technology. Innovation for and by women can grow the economy and create better products for everyone.

Do you have a question for Giz Asks? Email us at tipbox@gizmodo.com.

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What Are the Biggest Challenges Technology Must Overcome in the Next 10 Years? - Gizmodo

High-End Mall REITs Take a Hit From Forever 21 Bankruptcy – The Motley Fool

Store closures and retailer bankruptcies have become a huge drag on mall REITs' financial results in recent years. Owners of low- and mid-tier malls have been hit hardest. Falling traffic to those properties caused two department store chains, Bon-Ton and Sears Holdings, to file for bankruptcy last year. In 2019 alone, numerous chains that were once ubiquitous at mid-tier malls -- such as Gymboree, Crazy 8, Payless ShoeSource, and Things Remembered -- have closed their doors for good.

However, one of the more recent retail bankruptcies is impacting a different slice of the REIT world. Fast-fashion giant Forever 21 filed for bankruptcy a little over a month ago and announced plans to close up to 178 stores in the U.S. Its restructuring is disproportionately hurting high-end mall REITs, as seen in recent earnings reports from Taubman Centers (NYSE:TCO) and Macerich (NYSE:MAC).

Taubman Centers owns some of the best malls in the U.S. It recently reported that sales per square foot for comparable centers in the U.S. reached $964 for the 12-month period ending on Sept. 30, up nearly 14% from $848 during the prior 12-month period. Yet Taubman has struggled to translate this portfolio of superior malls into strong growth in funds from operations (FFO) per share, due to a combination of poor execution and questionable investment decisions.

Taubman's third-quarter earnings report revealed more of the same. Adjusted FFO per share plunged to $0.86 from $1.01 a year earlier. Higher interest expense, lower land sale gains, and a decline in lease termination revenue all contributed to the FFO decrease. Management also said that the Forever 21 bankruptcy reduced FFO per share by $0.03.

Excluding lease cancellation revenue, net operating income (NOI) from comparable centers fell 1.5% year over year, driven entirely by the Forever 21 bankruptcy and exchange rate fluctuations. Taubman now expects full-year comparable-center NOI to increase just 0% to 1%, compared to its previous guidance for 2% growth. Looking ahead to 2020, the Forever 21 bankruptcy will reduce comparable NOI by 1% to 1.5% and will hurt FFO per share by $0.08 to $0.10.

Taubman Centers cut its full-year guidance for comparable center NOI growth last week. Image source: Taubman Centers.

Management noted that only one or two of the Forever 21 stores in Taubman's portfolio are likely to close, whereas Forever 21 had initially planned to close a dozen stores at the REIT's malls. However, Taubman Centers had to offer substantial rent reductions to avoid immediate store closures. In the years ahead, it will look to replace some of those stores with new tenants paying market rents.

Macerich also owns a collection of extremely strong malls, with portfolio sales per square foot of $800 over the past 12 months, up from $707 in the year-earlier period. It has done a little better on the execution front than Taubman in recent years, but has faced many of the same challenges.

Last quarter, Macerich's adjusted FFO per share fell to $0.88 from $0.99 in the prior-year period. Excluding lease termination revenue, same-center NOI ticked up 0.2% year over year. For both of these metrics, Macerich performed slightly better than Taubman Centers in the third quarter. Nearly all of the FFO decline was driven by higher interest expense, lower land sale gains, a decrease in lease termination revenue, and an accounting change.

Macerich management said that on an annualized basis, the Forever 21 bankruptcy will reduce FFO per share by $0.08, including a roughly $0.01 hit in each of the third and fourth quarters of 2019. The annualized impact on comparable NOI will be approximately 1.3 percentage points. Like Taubman Centers, Macerich expects only a few of its Forever 21 stores to close -- and most of that space has already been released. Most of the impact of the bankruptcy will be felt in the form of rent concessions.

In the long run, Taubman Centers and Macerich should have no trouble replacing most of their Forever 21 stores with new tenants paying higher rents, due to the high quality of their properties. The Forever 21 bankruptcy will remain a significant headwind in the first half of 2020, but the impact will recede quickly thereafter. That said, Macerich is likely to see a quicker recovery in NOI and FFO than Taubman Centers.

First, Macerich has reported higher growth in average base rent and stronger releasing spreads than its rival over the past year. Second, Macerich owns 50% of Fashion District Philadelphia, a completely redeveloped city-center mall that recently opened in Philadelphia. As that property moves toward full occupancy during 2020, it should begin to make a meaningful contribution to NOI and FFO. Third, Macerich has a promising redevelopment pipeline. It is nearing completion of a major expansion of Scottsdale Fashion Square -- one of its premier malls -- and has more than half a dozen projects in the works for the next few years to replace closed Sears stores.

Thus, Macerich has a good chance to return to strong FFO growth as soon as the second half of next year. By contrast, based on its anemic rent spreads, it may take Taubman Centers longer to turn things around. Both REITs are likely to perform well in the long run, but Macerich looks like a better investment opportunity today.

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High-End Mall REITs Take a Hit From Forever 21 Bankruptcy - The Motley Fool

Roots Of An Oregon Farm Bankruptcy: When Tariffs, Mother Nature And Geopolitics Collide – OPB News

The federal bankruptcy court in Portland was almost empty when apple farmer Richard Blaine walked in. It was mid-October and harvest was in full swing on his orchards in Oregon and Washington. As workers plucked Granny Smiths and Golden Delicious from his trees, Blaine shifted in his seat and absorbed the bankruptcy hearing playing out aroundhim.

Richard Blaine friends call him Rick and his wife, Sydney Blaine, have run Avalon Orchards since 1974, growing apples, pears and cherries. He said the last five years have been a perfectstorm.

Its partly thanks to President Donald Trump that the Blaines have access to a kind of streamlined bankruptcy protection thats meant to help family farmers reorganize and keep farming. But its partly thanks to the presidents trade wars that they needit.

The Blaines have been married for 52 years. He was a schoolteacher when they bought her grandfathers farm in the Upper Hood River Valley. They learned by doing and over the years they expanded Avalon Orchards to five farms in Oregon andWashington.

Sydney, left, and Richard Blaine at Avalon Orchards in Sundale, Wash., Monday, Oct. 7, 2019. The Blaines have run Avalon since 1974. They hope to reorganize and continue farming after filing for Chapter 12 bankruptcy protections due to a variety of financial challenges, includingtariffs.

KateDavidson/OPB

Rick Blaine said now, at age 72, he can drive by an orchard at 50 mph and tell if its well tended. He and his wife are hands-onfarmers.

Mother Nature does almost all of it. But once in a while, if you bend a limb here or bend a limb there, and you do it often enough, the tree will produce lovely fruit, hesaid.

I love the harvest, Sydney Blaine said. Im outdoors all day long and especially when the weather is gorgeous, its just a beautiful outdoorlife.

Their daughter Heather Blaine is Avalon Orchards general manager. She said watching her parents go through this perfect storm, culminating in Avalons bankruptcy, has made this the hardest year of herlife.

I cannot even tell you how many tears have come out of my eyes, Heather Blaine said. And I wake up in the morning with stomach aches wondering how they are going to end their adventure in this livelihood weve had since1974.

When experienced farmers like the Blaines file for bankruptcy, its seldom because one thing went wrong. Its usually because theyve weathered a series of blows, which now include tariffs. In fact, the Blaines account of their perfect storm shows just how tied Northwest apples are to the whims ofgeopolitics.

They say it all started in 2014, with an event thousands of miles away that changed the global flow ofapples.

Binsof apples sit in the sun at Avalon Orchards in Sundale, Wash., Monday, Oct. 7,2019.

KateDavidson/OPB

After Russia seized and then annexed Ukraines Crimean Peninsula, Western nations imposed sanctions. Russia responded with a sweeping ban on imports from those countries, including apples. One of the affected countries, Poland, was a huge apple exporter and Russia was its biggest customer. Without access to Russia, European apples have been muscling into other markets where American fruit is alsosold.

The impact has been intense and right now immeasurable, said Mark Powers, president of the Northwest Horticultural Council. European apples that used to be sold in Russia are now being sold throughout the Middle East, in India and Southeast Asia as a result of those sanctions. Were losing market share as aresult.

But the storm was just gettingstarted.

In November 2014, a severe freeze killed 50-60 acres of Avalons fruit trees and damaged many more. Rick Blaine said it cost hundreds of thousands of dollars to replant the trees, which would take years to fullyproduce.

Victor Covarrubias holds a basket of Granny Smith apples at Avalon Orchards in Sundale, Wash., Monday, Oct. 7,2019.

KateDavidson/OPB

Add to that a monthslong labor conflict between dockworkers and shippers that bled into 2015 and turned some West Coast ports into parking lots. The labor dispute has slowed imports and exports to a crawl at 29 West Coast ports, CBS news reported at the time. Washington growers export about a third of their apples, but the slowdown backed up the regions entire apple supply chain. It cost producersdearly.

So that was the initialstorm.

In 2015 and 16, we started to recover, Rick Blainesaid.

Then, in 2018, President Trump imposed tariffs on imported steel and aluminum and the storm turned into a perfect storm. As the presidents trade wars escalated, the Blaines biggest export markets retaliated. No. 1 Mexico, no. 2 India, and no. 6 China all imposed or eventually raised tariffs on American apples. As foreign markets shrunk, those apples stayed in the U.S., depressing priceshere.

Its so unnecessary and its destroying our livelihood, said Sydney Blaine. The tariffs are destroying the markets and theyre destroying them for a long time into thefuture.

Even if countries later drop tariffs, as Mexico did, it takes time to rebuild thosemarkets.

Its sort of like if youre sitting in a backup on the interstate and youre wondering why has the traffic come to a screeching halt? said Jim Bair, president and CEO of the U.S. Apple Association. Well the accident that caused the backup may have been cleared off to the side of the road two hours ago, but it takes a long time to build back up to the same velocity that you were at. And thats true oftrade.

Vilmer Alcantar drives a tractor hauling bins of Granny Smith apples at Avalon Orchards farm in Sundale, Wash., Monday, Oct. 7, 2019. Alcantar is the foreman here and has worked for Avalon Orchards since1983.

KateDavidson/OPB

Over the past decade, the Blaines made business choices that also shaped their financial course. That includes planting some apples that have lost appeal in America, but are prized inAsia.

Much of our efforts, including planting Red Delicious, even though we know it wasnt domestically acceptable, was designed to be exported to India. The people of India and China and Southeast Asia, they really enjoy red fruit. And I think thats terrific, hesaid.

India now has a 70% tariff on U.S.apples.

If you cant sell your fruit thats designed for export, then you have failed, Rick Blainesaid.

The Blaines say they have never missed a loan payment in their lives. Still, according to court documents, Columbia State Bank looked at their losses and declined further funding for this years crop. It also found them in covenant default on a multimillion-dollar loan, basically alleging theyd failed to maintain enough equity in their operations. A lawyer for the bank said he was unable tocomment.

The Blaines say theyve sold a house and one of their five orchards to raise cash. They wrapped up harvest a few days ago. Now they have to wrap up their bankruptcycase.

Six months ago, Avalon Orchards wouldnt have been able to seek the streamlined protections of Chapter 12 bankruptcy. But on Aug. 23, President Trump signed a law expanding the number of family farmers eligible for that relief. The Family Farmer Relief Act more than doubled the amount of debt a farm can have and still qualify for Chapter 12, without being forced into a more onerous proceeding. The debt cap is now $10million.

Richard and Sydney Blaine had been waiting for that signature. Five days later, they filed for Chapter 12 protection for Avalon Orchards. Theoretically, they should be able to reorganize and keep farming, even if operations aresmaller.

Richard Blaine walks through his orchard in Sundale, Wash., Monday, Oct. 7, 2019. A number of financial forces, including tariffs, forced the family to file for Chapter 12 bankruptcyprotection.

KateDavidson/OPB

Daughter Heather Blaine is grateful her parents could still retire just nicely. She said it makes them feel like it wasnt all for naught. Still the rough ride since 2014 has made the 51-year-old general manager worry about her ownfuture.

I have a great life, but Ive always considered the land my 401(k), she said. When you put basically all your money into dirt, it gets a little stressful when times become very, verytenuous.

Those tenuous times, and the changes to Chapter 12, likely mean more family farmers affected by the storm of geopolitics will seek bankruptcy protection as time goeson.

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Roots Of An Oregon Farm Bankruptcy: When Tariffs, Mother Nature And Geopolitics Collide - OPB News

Murray Energy Is 8th Coal Company in a Year to Seek Bankruptcy – The New York Times

Murray Energy, once a symbol of American mining prowess, has become the eighth coal company in a year to file for bankruptcy protection. The move on Tuesday is the latest sign that market forces are throttling the Trump administrations bid to save the industry.

The collapse of the Ohio-based company had long been expected as coal-fired power plants close across the country.

Its chief executive, Robert E. Murray, has been an outspoken supporter and adviser of President Trump. He had lobbied extensively for Washington to support coal-fired power plants.

Mr. Murray gave up his position as chief executive and was replaced on Tuesday by Robert Moore, the former chief financial officer. Mr. Murray, who will remain chairman, expressed optimism that the company would survive with a lighter debt load.

Although a bankruptcy filing is not an easy decision, it became necessary to access liquidity, he said in a statement, and best position Murray Energy and its affiliates for the future of our employees and customers and our long-term success.

Murray, the nations largest privately held coal company, has nearly 7,000 employees and operates 17 mines in six states across Appalachia and the South as well as two mines in Colombia. It produces more than 70 million tons of coal annually.

But with utilities quickly switching to cheap natural gas and renewable sources like wind and solar power, Murray and other coal companies have been shutting down mines and laying off workers. Murrays bankruptcy follows those of industry stalwarts like Cloud Peak Energy, Cambrian Coal and Blackjewel.

Murray was most closely identified with Trump administration promises to reverse the industrys fortunes.

Mr. Murray contributed $300,000 to Mr. Trumps inauguration. Shortly after, he wrote Mr. Trump a confidential memo with his wish list for the industry, including shaving regulations on greenhouse gas emissions and ozone and mine safety, along with cutting the staff at the Environmental Protection Agency by at least 50 percent. Several of the suggestions were adopted.

In July, Mr. Murray hosted a fund-raiser for Mr. Trump attended by the Republican governors of Ohio, Kentucky and West Virginia.

With Mr. Murray applauding his efforts, President Trump installed former coal lobbyists in regulatory positions and slashed environmental rules. But utilities continued to shut down coal plants that could not compete with a glut of natural gas produced in the nations shale fields. More recently, the improved economics of wind and solar energy production hastened coals decline.

Once the source of over 40 percent of the countrys power, coal produced 28 percent in 2018. That share has declined to just 25 percent this year, and the Energy Department projects that it will drop to 22 percent next year.

The only bright spot for Murray and other coal companies in recent years has been growing demand from Europe, Latin America and Asia, but exports have dropped by nearly 30 percent in the third quarter compared with last year. All told, domestic coal production is expected to decline by 10 percent this year from 2018 and by an additional 11 percent in 2020, the Energy Department said recently.

Environmentalists cheered the bankruptcy.

Bob Murray and his company are the latest examples of how market forces have sealed the fate of coal and theres nothing the president can do about it, said Ken Cook, president of the Environmental Working Group.

Murray entered into a restructuring agreement with some of its lenders and said it had received $350 million in loans to keep operating its mines.

Many coal companies have gone through bankruptcy in recent years only to re-emerge smaller, with reduced debts and eroded pension and health care benefits. Murray had been the last coal company contributing to the pension fund of the United Mine Workers of America.

In a statement, the United Mine Workers president, Cecil E. Roberts, warned that Murray will seek to be relieved of its obligations to retirees, their dependents and widows, adding, We have seen this sad act too many times before.

He promised to fight for the interests of workers in bankruptcy court.

While coal is in sharp decline in the United States, it remains a major power source in developing countries like India and China.

For coal to grow again in the United States and other industrialized countries, energy experts and even some coal executives say a concerted effort will be needed to develop technologies to capture carbon dioxide emissions from power plants. So far, the Trump administration has stopped short of pushing such an initiative.

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Murray Energy Is 8th Coal Company in a Year to Seek Bankruptcy - The New York Times

PG&Es Bankruptcy Has Gotten Trickier and Riskier for Its Stock – Barron’s

Uncertainty surrounding the potential that PG&E equipment helped spark the Kincade Fire, shown here burning in Windsor, Calif., this past week, is clouding the investment case for the utility. Photograph by Eric Thayer/The New York Times/Redux

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Wildfires are tearing across California again, and that has made Wall Street anxious about investing in the states electric utilities. But investors seem to be discounting the doomsday scenario for PG&E.

PG&E (ticker: PCG) filed for bankruptcy protection in January to deal with tens of billions of dollars in costs from a series of wildfires caused by its equipment in 2017 and 2018. In a July cover story, Barrons said that risk-tolerant investors might want to consider wagering on the shares. State regulators and PG&E executives both hadand still havestrong incentive to get the utility out of bankruptcy quickly, and the utility was planning to cut customers power to prevent fires.

A lot has changed since then.

First, wildfire victims got permission to pursue a lawsuit in state court against PG&E. They claim the utility is responsible for damages from the 2017 Tubbs Fire, even though Californias Forestry & Fire Division, known as Cal Fire, determined it wasnt the cause. That trial is scheduled to begin in January. The judge also approved a bondholder groups request to propose its own restructuring plan to compete with PG&Es. That plan would give bondholders including Pimco and activist Elliott Management up to a 95% stake in PG&E and leave current shares essentially worthless.

Then on Oct. 23, a blaze of unclear origin began in PG&Es territory. While the utility had implemented blackouts to prevent its equipment from causing wildfires, its large high-voltage transmission lines were still operating in the area, and it reported a problem with one of those towers near the start of the fire.

PG&E stock fell more than 20% following this news on Monday. The stock rebounded 62% from its nadir, but at Thursdays close of $6.17, its still far below the $18.50 it traded at when we ran our cover story.

The price of PG&Es high-coupon bond maturing in 2034 dropped nearly 14 cents on the dollar early last week after climbing most of the year. The bond recovered 10 cents of that loss by Thursday, when it was trading above par at $1.01 per dollar.

The rebound in PG&Es stock and bonds stems from several factors. First is U.S. Bankruptcy Judge Dennis Montalis decision to appoint a mediator to act as a go-between for competing groups in the reorganization. Second is the limited damage so far attributed to the Kincade Fire, the Northern California blaze that PG&Es equipment may have caused.

Its also important to note the benefits that PG&E could derive from a state law passed earlier this yearif it exits bankruptcy by a June 2020 deadline. A quick exit would allow the utility to access a wildfire fund that could pay up to 40% of the wildfire claims against PG&E, and would make it easier to pass along wildfire costs to customers.

Still, thanks to a quirk in bankruptcy law that gives priority to 2019 fire costs, bondholders recoveries have been called into question for the first time. Bondholders had previously expected to get paid back in full, though there was some disagreement between them and shareholders over the rate on interest payments accrued during the bankruptcy process.

Thats where the mediator comes in. The mediation process may help break the stalemate between bondholders and shareholders, who have been fighting to control the company once it exits from bankruptcy. The shareholders had signed a preliminary $11 billion settlement agreement with the insurers and hedge funds that own wildfire claims, while the bondholders had won the support of wildfire victims for their latest reorganization plan.

The PG&E trade remains a tough call. Theres still a small chance shareholders could recover some value, but that possibility could disappear once another severe wildfire starts.

Write to Alexandra Scaggs at alexandra.scaggs@barrons.com

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PG&Es Bankruptcy Has Gotten Trickier and Riskier for Its Stock - Barron's

Forever 21 Closes 200 Stores Amid Bankruptcy Proceedings – Forbes

Forever 21 holds a store-closing sale in London on October 16.

Topline: In an effort to emerge from bankruptcy, Forever 21 will close 200 stores, making the move to streamline its business during a tough time for brick-and-mortar retailers.

Big number: Forever 21 has 800 stores worldwide, with 549 in the U.S. That adds up to a total of 12.2 million square feet of leased retail space and an annual occupancy cost of $450 million.

Key background: Forever 21 was founded by husband and wife Do Won and Jin Sook Chang in 1984. By 2015, the company generated $4 billion of revenue and employed 43,000 people. But fast-fashion, a business model based on bringing low-cost, trendy clothing to market quickly, has floundered in 2019. Wet Seal, Delias, Aeropostale, The Limited and Payless ShoeSource also filed for bankruptcy this year. In their place are online retailers like Asos and Lulus, which can make and sell trendy clothing even faster than Forever 21.

Tangent: Ariana Grande filed a $10 million claim in September against Forever 21 for featuring a lookalike model in a social media campaign earlier this year. Grande also alleges Forever 21 used her photos and song lyrics for its Instagram posts without owning the rights to them.

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Forever 21 Closes 200 Stores Amid Bankruptcy Proceedings - Forbes

PG&E Stock Is Rallying After Mediator Appointed to Bankruptcy Negotiations – Barron’s

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PG&E stock rallied 21% on Tuesday, even as wildfires continued to burn throughout California. The gains came as the judge overseeing the utilitys bankruptcy appointed an official to mediate negotiations between two groups of investors vying for control of the company.

Judge Dennis Montali of the Northern District of California appointed retired judge Randall Newsome to facilitate negotiations between the bankruptcys competing factions in an order published late Monday.

PG&E has proposed a reorganization plan that would retain some value for the companys shareholders, and reached an $11 billion settlement agreement with investors and insurers who own insurance claims covering wildfire losses. A coalition of bondholders and wildfire victims have proposed an alternate restructuring plan, which would render the current shares more or less worthless.

Montali also ordered the principal parties to make a good-faith effort to mediate whatever issues can be identified with the help of...[an] experienced mediator. His court is based in San Francisco.

Elsewhere in the state, wildfires continued to spread. Northern Californias Kincade Fire was 15% contained on Tuesday morning, according to the states fire agency.

PG&E warned residents that it plans to turn off power to nearly 600,000 customers starting Tuesday in an attempt to prevent wildfires. The utility shut down power to 970,000 customers over the weekend. It filed an incident report last week highlighting an issue with a transmission line near the ignition point of the Kincade Fire, which is still burning.

The fire has grown to 75,415 acres but the reported damage has been relatively light thus far; Cal Fire counts two injuries. The agency says 124 buildings were destroyed and 23 more were damaged, but the Sacramento Bee reports that 90,000 buildings are threatened by the fire. About 180,000 Californians faced evacuation orders over the weekend because of the Kincade Fire.

Even with Tuesdays gains, the stock is still down about 40% over the past two weeks.

Write to Alexandra Scaggs at alexandra.scaggs@barrons.com

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PG&E Stock Is Rallying After Mediator Appointed to Bankruptcy Negotiations - Barron's

The Small Business Reorganization ActComing to a Bankruptcy Court Near You in February 2020 – Lexology

On August 23, 2019, the Small Business Reorganization Act of 2019 (the Act) was signed into law. The Act, which goes into effect in February of 2020, creates a new Subchapter V under Chapter 11 of the U.S. Bankruptcy Code.

In the past, few small businesses have been able to reorganize under Chapter 11 of the Bankruptcy Code due to the costs and administrative burdens associated with the process.

The Act is meant to eliminate and/or streamline some of the more costly and burdensome elements of traditional Chapter 11 relief. It should give small businesses greater access to the benefits that Chapter 11 affordsnamely, breathing room to improve financial and operational performance, and the ability to reduce or at least restructure debts.

Some of the key elements of the Act include:

The Act, which will take effect in February of 2020, gives small businesses expanded access to the Bankruptcy Codes reorganization tools.. Small business ownersand the customers, suppliers, and lenders who do business with themshould prepare to exercise their rights and protect their interests under this new subchapter of the Bankruptcy Code. Foster Swift will continue to monitor and share developments related to the Act.

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The Small Business Reorganization ActComing to a Bankruptcy Court Near You in February 2020 - Lexology