More than 1,500 workers for the video game maker Activision Blizzard walked out from their jobs this week. Thousands signed a letter rebuking their employer. And even as the chief executive apologized, current and former employees said they would not stop raising a ruckus.
Shay Stein, who used to work at Activision, said it was “heartbreaking.” Lisa Welch, a former vice president, said she felt “profound disappointment.” Others took to Twitter or waved signs outside one of the company’s offices on Wednesday to share their anger.
Activision, known for its hugely popular Call of Duty, World of Warcraft and StarCraft gaming franchises, has been thrown into an uproar over workplace behavior issues. The upheaval stems from an explosive lawsuit that California’s Department of Fair Employment and Housing filed on July 20, accusing the $65 billion company of fostering a “frat boy workplace culture” in which men joked about rape and women were routinely harassed and paid less than their male colleagues.
Activision publicly criticized the agency’s two-year investigation and allegations as “irresponsible behavior from unaccountable state bureaucrats.” But its dismissive tone angered employees, who called out the company for trying to sweep away what they said were heinous problems that had been ignored for too long.
Hollywood, restaurants and the media — the male-dominated video game sector has long stood out for its openly toxic behavior and lack of change. In 2014, feminist critics of the industry faced death threats in what became known as Gamergate. Executives at the gaming companies Riot Games and Ubisoft have also been accused of misconduct.
Now the actions at Activision may signal a new phase, where a critical mass of the industry’s own workers are indicating they will no longer tolerate such behavior.
“This could mean some real accountability for companies that aren’t taking care of their workers and are creating inequitable work environments where women and gender minorities are kept at the margins and abused,” said Carly Kocurek, an associate professor at the Illinois Institute of Technology who studies gender in gaming.
She said California’s lawsuit and the fallout at Activision were a “big deal” for an industry that had traditionally shrugged off claims of sexism and harassment. Other gaming companies are most likely watching the situation, she added, and considering whether they need to address their own cultures.
spared little detail. Many of the misconduct accusations focused on a division called Blizzard, which the company merged with through a deal with Vivendi Games in 2008.
The lawsuit accused Activision of being a “a breeding ground for harassment and discrimination against women.” Employees engaged in “cube crawls” in which they got drunk and acted inappropriately toward women at work cubicles, the lawsuit said.
In one case, a female employee died by suicide during a business trip because of the sexual relationship she had been having with her male supervisor, the lawsuit said. Before her death, male colleagues had shared an explicit photo of the woman, according to the lawsuit.
Employees reacted furiously. An open letter addressed to Activision’s leaders calling for them to take the accusations more seriously and “demonstrate compassion” for victims attracted more than 3,000 signatures from current and former employees by Wednesday. The company has nearly 10,000 employees.
“We no longer trust that our leaders will place employee safety above their own interests,” the letter said, calling Ms. Townsend’s remarks “unacceptable.”
a $155 million pay package that makes him one of the country’s highest-paid executives, added that the company would beef up the team that investigated reported misconduct, fire managers who were found to have impeded investigations and remove in-game content that had been flagged as inappropriate.
Employees said it was not enough.
“We will not return to silence; we will not be placated by the same processes that led us to this point,” organizers of the walkout said in a public statement. They declined to be identified out of fear of reprisal.
DALLAS–(BUSINESS WIRE)–Invitation Homes Inc. (NYSE: INVH)(“Invitation Homes” or the “Company”) , the nation’s premier single-family home leasing company, and PulteGroup, Inc. (NYSE: PHM), the nation’s third largest homebuilder, announced today the formation of an innovative strategic relationship. As part of this relationship, Invitation Homes expects to purchase approximately 7,500 new homes over the next five years that PulteGroup will design and build expressly for this purpose.
The companies have already reached agreement on the construction and sale of over 1,000 homes across seven communities over the next several years, with the first sales expected to close in 2022. Initial projects are scheduled for delivery in Florida, Georgia, Southern California, North Carolina and Texas.
“At Invitation Homes, we’re committed to serving the growing share of Americans who are opting not to buy a house by providing high-quality homes with valued features such as close proximity to jobs and access to good schools,” said Dallas Tanner, President and CEO of Invitation Homes. “We’re thrilled that this strategic relationship with PulteGroup further strengthens that commitment while also enhancing our multichannel acquisition approach to growth.”
“We have been evaluating potential structures for participating in the single-family rental market that would seek to capitalize on our strengths in community development and new-home construction while delivering high returns,” said Ryan Marshall, PulteGroup President and CEO. “We are excited to be working with an industry leader in Invitation Homes, and believe this relationship will allow us to increase our scale in our existing markets, make investing in larger land parcels more practical, and generate attractive risk adjusted returns.”
About Invitation Homes
Invitation Homes is the nation’s premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company’s mission, “Together with you, we make a house a home,” reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents’ living experiences.
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.
For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroup.com; www.pulte.com; www.centex.com; www.delwebb.com; www.divosta.com; www.jwhomes.com; and www.americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to the Company’s expectations regarding the performance of the Company’s business, its financial results, its liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the single-family rental industry and the Company’s business model, macroeconomic factors beyond the Company’s control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association (“HOA”) fees, and insurance costs, the Company’s dependence on third parties for key services, risks related to the evaluation of properties, poor resident selection and defaults and non-renewals by the Company’s residents, performance of the Company’s information technology systems, risks related to the Company’s indebtedness, and risks related to the potential negative impact of the ongoing COVID-19 pandemic on the Company’s financial condition, results of operations, cash flows, business, associates, and residents. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Moreover, many of these factors have been heightened as a result of the ongoing and numerous adverse impacts of COVID-19. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.
Nearly a decade ago, the United States began naming and shaming China for an onslaught of online espionage, the bulk of it conducted using low-level phishing emails against American companies for intellectual property theft.
On Monday, the United States again accused China of cyberattacks. But these attacks were highly aggressive, and they reveal that China has transformed into a far more sophisticated and mature digital adversary than the one that flummoxed U.S. officials a decade ago.
The Biden administration’s indictment for the cyberattacks, along with interviews with dozens of current and former American officials, shows that China has reorganized its hacking operations in the intervening years. While it once conducted relatively unsophisticated hacks of foreign companies, think tanks and government agencies, China is now perpetrating stealthy, decentralized digital assaults of American companies and interests around the world.
Hacks that were conducted via sloppily worded spearphishing emails by units of the People’s Liberation Army are now carried out by an elite satellite network of contractors at front companies and universities that work at the direction of China’s Ministry of State Security, according to U.S. officials and the indictment.
like Microsoft’s Exchange email service and Pulse VPN security devices, which are harder to defend against and allow China’s hackers to operate undetected for longer periods.
“What we’ve seen over the past two or three years is an upleveling” by China, said George Kurtz, the chief executive of the cybersecurity firm CrowdStrike. “They operate more like a professional intelligence service than the smash-and-grab operators we saw in the past.”
China has long been one of the biggest digital threats to the United States. In a 2009 classified National Intelligence Estimate, a document that represents the consensus of all 16 U.S. intelligence agencies, China and Russia topped the list of America’s online adversaries. But China was deemed the more immediate threat because of the volume of its industrial trade theft.
But that threat is even more troubling now because of China’s revamping of its hacking operations. Furthermore, the Biden administration has turned cyberattacks — including ransomware attacks — into a major diplomatic front with superpowers like Russia, and U.S. relations with China have steadily deteriorated over issues including trade and tech supremacy.
China’s prominence in hacking first came to the fore in 2010 with attacks on Google and RSA, the security company, and again in 2013 with a hack of The New York Times.
breach of the U.S. Office of Personnel Management. In that attack, Chinese hackers made off with sensitive personal information, including more than 20 million fingerprints, for Americans who had been granted a security clearance.
White House officials soon struck a deal that China would cease its hacking of American companies and interests for its industrial benefit. For 18 months during the Obama administration, security researchers and intelligence officials observed a notable drop in Chinese hacking.
After President Donald J. Trump took office and accelerated trade conflicts and other tensions with China, the hacking resumed. By 2018, U.S. intelligence officials had noted a shift: People’s Liberation Army hackers had stood down and been replaced by operatives working at the behest of the Ministry of State Security, which handles China’s intelligence, security and secret police.
Hacks of intellectual property, that benefited China’s economic plans, originated not from the P.L.A. but from a looser network of front companies and contractors, including engineers who worked for some of the country’s leading technology companies, according to intelligence officials and researchers.
It was unclear how exactly China worked with these loosely affiliated hackers. Some cybersecurity experts speculated that the engineers were paid cash to moonlight for the state, while others said those in the network had no choice but to do whatever the state asked. In 2013, a classified U.S. National Security Agency memo said, “The exact affiliation with Chinese government entities is not known, but their activities indicate a probable intelligence requirement feed from China’s Ministry of State Security.”
announced a new policy requiring Chinese security researchers to notify the state within two days when they found security holes, such as the “zero-days” that the country relied on in the breach of Microsoft Exchange systems.
arrested its founder. Two years later, Chinese police announced that they would start enforcing laws banning the “unauthorized disclosure” of vulnerabilities. That same year, Chinese hackers, who were a regular presence at big Western hacking conventions, stopped showing up, on state orders.
“If they continue to maintain this level of access, with the control that they have, their intelligence community is going to benefit,” Mr. Kurtz said of China. “It’s an arms race in cyber.”
an ambitious proposal to cut carbon emissions, how will those who hope to succeed Chancellor Angela Merkel respond?
If only because of their sheer scale, analysts say, the floods are likely to play a significant role for voters when they go to the polls on Sept 26 to replace Ms. Merkel, who has led the country for 16 years.
The death toll in Germany climbed to at least 143 on Saturday, while the toll across the border in Belgium stood at 27, its national crisis center said. The count rose most sharply in Germany’s Ahrweiler district in Rhineland-Palatinate State, where the police said that more than 90 people had died. The authorities feared that number could yet grow.
In Germany, Europe’s largest economy and a country that prides itself on its sense of stability, the chaos wrought by nature was likely to reverberate for months, if not years.
But on Saturday, residents and rescue workers in flood-hit areas faced the more immediate and daunting task of clearing piles of debris, unclogging roads and salvaging some of the homes that had survived the deluge.
Hundreds of people remain unaccounted for, but officials have struggled to offer precise numbers.
Electricity and telephone services remain inaccessible in parts of Germany, and some roads are still impassable. That lack of access may account for the high tallies of those still considered missing. And some of those who are not accounted for could simply be away, on vacation or work assignment. In Belgium, police officers started knocking on doors to try to confirm the whereabouts of residents.
Still, officials said they expected to find additional victims.
Extreme downpours like the ones that hit Germany are one of the most visible signs that the climate is changing as a result of global warming from greenhouse gas emissions. Studies have shown a warmer atmosphere can hold more moisture, generating more rainfall.
Floods of this size have not been seen in 500 or even 1,000 years, according to meteorologists and German officials.
Rhineland-Palatinate was one of the two hardest-hit German states in the west, along with North Rhine-Westphalia. The Rhine River flows through the two regions, and the rain fell so rapidly that it engorged even small streams and tributaries not typically considered flood threats.
Germany’s president, Frank-Walter Steinmeier, traveled on Saturday to the town of Erftstadt, southwest of Cologne, where the flooding destroyed homes. Ms. Merkel planned to travel on Sunday to Schuld in Rhineland-Palatinate, which was badly hit, even as all of its 700 residents managed to survive.
There were scenes of devastation from all around Western Europe, the floods having caused damage from Switzerland to the Netherlands. But Germany was hardest hit.
Days before roiling waters tore through western Germany, a European weather agency had issued an extreme flood warning, as models showed that storms would send rivers surging to levels that had not been seen in hundreds of years.
The warnings, however, did little good.
Though Germany’s flood warning system, a network of sensors that measure river levels, functioned as it was supposed to, state and local officials said the amount of rain was unlike anything they had ever seen, causing even small streams and rivers to flood their banks.
Survivors and officials said many areas were caught unprepared as normally placid brooks and streams turned into torrents that swept away cars, houses and bridges. About 15,000 police officers, soldiers and emergency service workers have been deployed in Germany to help with the search and rescue.
Dr. Linda Speight, a hydrometeorologist at the University of Reading in Britain who studies how flooding occurs, blamed poor communication about the high risk posed by the flooding as contributing to the significant loss of life. “There should not have been so many deaths from this event,” she said.
Residents returning home, only to find their homes no longer there. Roads submerged by landslides. Loved ones still unaccounted for.
As the weather improved on Saturday and rescue workers searched for missing residents, many people in flood-hit areas of Germany were trying to re-establish some order amid the chaos and destruction.
Friends and relatives mobilized to help, maneuvering around blocked roads and washed-out bridges. Crushed cars and mounds of ruined goods were carted away, or piled by the side of muddied, cracked roads.
Many expressed amazement at how so much could have been destroyed so quickly. For Lisa Knopp, 19, who was helping to empty the flood-ruined basement of her grandmother’s home in Sinzig, a small town between the Rhine and Ahr rivers, the scenes of destruction “will stay with me a long time.”
Kim Falkenstein said her mother lost her home in Ahrweiler, one of the hardest-hit spots. Ms. Falkenstein, who was born in Ahrweiler and now lives in New York, said several friends had also lost their homes, and a classmate had died.
“I am heartbroken,” she said.
“Seeing my city being destroyed, people who I am close with losing their existence, and knowing I will never return to something I once called home,” Ms. Falkenstein said, “gives me goose bumps.”
In a country that is among Europe’s most prosperous, where orderliness is highly prized, many Germans were unnerved by the helplessness wrought by nature.
Bertrand Adams, a local official in Trier-Ehrang, a town in western Germany, stared in disbelief at the swirling waters only now receding from his community.
“It is beyond anything that could ever be imagined,” he told ZDF television. “We have a very good flood protection system that we developed only five years ago. We were so certain that nothing can go wrong.”
Daniela Schmitz, who has a ranch in Erftstadt, a town southwest of Cologne, was relieved that her property was not destroyed by the floods and that her horses had been evacuated. Others, she said, weren’t that fortunate.
“We were warned early enough — other stables are not doing so well,” she wrote in a WhatsApp message. “Many animals have drowned, entire stalls destroyed, and feed is becoming scarce. The conditions are really catastrophic in many places.”
On Saturday, German television channels carried wall-to-wall coverage of the flooding, as rescue workers continued searching for those who had been trapped by rising waters, with 143 confirmed dead in Germany and hundreds still missing.
As the official response picked up speed on Saturday, electricity, water and internet coverage were slowly being restored. Hundreds of police, fire and emergency vehicles crammed the roads into the most afflicted areas of Rhine-Palatinate and North Rhine-Westphalia.
IBM insists that its revised A.I. strategy — a pared-down, less world-changing ambition — is working. The job of reviving growth was handed to Arvind Krishna, a computer scientist who became chief executive last year, after leading the recent overhaul of IBM’s cloud and A.I. businesses.
But the grand visions of the past are gone. Today, instead of being a shorthand for technological prowess, Watson stands out as a sobering example of the pitfalls of technological hype and hubris around A.I.
The march of artificial intelligence through the mainstream economy, it turns out, will be more step-by-step evolution than cataclysmic revolution.
A New Wave to Ride
Time and again during its 110-year history, IBM has ushered in new technology and sold it to corporations. The company so dominated the market for mainframe computers that it was the target of a federal antitrust case. PC sales really took off after IBM entered the market in 1981, endorsing the small machines as essential tools in corporate offices. In the 1990s, IBM helped its traditional corporate customers adapt to the internet.
IBM executives came to see A.I. as the next wave to ride.
Mr. Ferrucci first pitched the idea of Watson to his bosses at IBM’s research labs in 2006. He thought building a computer to tackle a question-answer game could push science ahead in the A.I. field known as natural language processing, in which scientists program computers to recognize and analyze words. Another research goal was to advance techniques for automated question answering.
After overcoming initial skepticism, Mr. Ferrucci assembled a team of scientists — eventually more than two dozen — who worked out of the company’s lab in Yorktown Heights, N.Y., about 20 miles north of IBM’s headquarters in Armonk.
The Watson they built was a room-size supercomputer with thousands of processors running millions of lines of code. Its storage disks were filled with digitized reference works, Wikipedia entries and electronic books. Computing intelligence is a brute force affair, and the hulking machine required 85,000 watts of power. The human brain, by contrast, runs on the equivalent of 20 watts.
KABUL, Afghanistan — In June, when the Taliban took the district of Imam Sahib in Afghanistan’s north, the insurgent commander who now ruled the area had a message for his new constituents, including some government employees: Keep working, open your shops and keep the city clean.
The water was turned back on, the power grid was repaired, garbage trucks collected trash and a government vehicle’s flat tire was mended — all under the Taliban’s direction.
Imam Sahib is one of dozens of districts caught up in a Taliban military offensive that has swiftly captured more than a quarter of Afghanistan’s districts, many in the north, since the U.S. withdrawal began in May.
It is all part of the Taliban’s broader strategy of trying to rebrand themselves as capable governors while they press a ruthless, land-grabbing offensive across the country. The combination is a stark signal that the insurgents fully intend to try for all-out dominance of Afghanistan once the American pullout is finished.
have begun to muster militias to defend their home turf, skeptical that the Afghan security forces can hold out in the absence of their American backers, in a painful echo of the country’s devastating civil war breakdown in the 1990s.
report. Some homes there were burned down by the Taliban, residents said.
“The Taliban burned my house while my family was in the house,” said Sirajuddin Jamali, a tribal elder. “In 2015, a military base was under siege and we provided food and water for them, but now the Taliban are taking revenge,” Mr. Jamali sobbed. “Do they do the same in any area the Taliban take?”
Zabihullah Mujahid, a spokesman for the Taliban, said the accusations of burning down homes was under investigation.
The group’s public responses, though rarely sincere, play directly into a strategy meant to portray the insurgents as a comparable option to the Afghan government. And they ignore the fact that local feuds drive large amounts of the war’s violence, outweighing any official orders from the Taliban leadership.
On the battlefield, things are shifting quickly. Thousands of Afghan soldiers and militia members have surrendered in past weeks, forfeiting weapons, ammunition and armored vehicles as the Taliban take district after district. Government forces have counterattacked, recapturing several districts, though not on the scale of the insurgents’ recent victories.
But little reported are Taliban losses, aside from the inflated body counts announced by the Afghan government’s Ministry of Defense. The Taliban, with their base strength long estimated to be between 50,000 and 100,000 fighters, depending on the time of year, have taken serious casualties in recent months, especially in the country’s south.
The casualties are primarily from the Afghan and U.S. air forces, and sometimes from Afghan commando units.
Mullah Basir Akhund, a former commander and member of the Taliban since 1994, said that cemeteries along the Pakistani border, where Taliban fighters have long been buried, are filling up faster than in years past. Pakistani hospitals, part of the country’s unwavering line of support for the insurgents, are running out of bed space. During a recent visit to a hospital in Quetta, a hub for the Taliban in Pakistan, Mr. Akhund said he saw more than 100 people, most of them Taliban fighters, waiting to be treated.
But despite tough battles, the weight of a nearly withdrawn superpower, and the Taliban’s own leadership issues, the insurgents continue to adapt.
Even as they seek to conquer the country, the Taliban are aware of their legacy of harsh rule, and do not want to “become the same pariah and isolated state” that Afghanistan was in the 1990s, said Ibraheem Bahiss, an International Crisis Group consultant and an independent research analyst.
“They’re playing the long game,” Mr. Bahiss said.
Reporting was contributed by Asadullah Timory in Herat, Taimoor Shah in Kandahar, Ruhullah Khapalwak, Farooq Jan Mangal in Khost and Zabihullah Ghazi in Jalalabad.
TORONTO–(BUSINESS WIRE)–Konfidis Inc. (Konfidis), Canada’s leading and comprehensive service provider to enable better investor access to the Canadian residential real estate sector, is pleased to announce that it has closed an oversubscribed non-brokered $2 million private placement seed financing round. Konfidis is excited to welcome its new strategic and value-add investors including its accomplished Advisory Board members.
With Canada’s leading technology platform for residential real estate investing and a rapidly growing technology-enabled and investor-focused residential real estate brokerage subsidiary, Konfidis Realty Inc., this injection of funds will bolster Konfidis’ growth strategy and boost various enhancements to the platform serving both single-property investors and those accumulating residential property portfolios, as well as Konfidis’ tenant marketplace to support a new age of rental housing solutions and service.
“We are excited to provide new and innovative technology solutions for our clients and partners to enable simple access to better Canadian residential real estate investment opportunities,” said Mr. Asher. “We’ve witnessed the success of technology-enabled residential real estate investing, including the Single-Family Rental (SFR) Home asset class, and we’re here to provide investors with such opportunities in Canada where there are compelling long-term supply and demand fundamentals supporting outsized risk-adjusted return potential.”
Konfidis is dedicated to delivering an exciting new offering for tenants seeking high-quality and dependable long-term rental housing solutions. “Recent news headlines continuously highlight how buyers have been priced out of the market, and this is especially problematic for families who wish to rent in a specific school district, for example, given the acute shortage of quality single-family homes available for rent in those districts. In addition, landlords are by-and-large mom-and-pop owner-managers and unfortunately great tenants do sometimes have poor experiences and fear sudden eviction if the landlord decides to move into the property. We believe our professional and tenant-first offering will deliver comfort and security of tenure to longer-term renters with a high level of service,” said John Asher, President and Co-Founder of Konfidis Inc.
“The current residential real estate landscape is dominated by resources that serve owner-occupier families. Konfidis provides an investor-focused suite of tools that are not restricted to local knowledge only, rather we scour a wider geographic region for the best investment opportunities driven by technology and big data and without emotion,” said Jared Kalish, Executive Chairman and Co-Founder of Konfidis Inc. “We believe that KonfidisRANKTM, our proprietary acquisition software, which utilizes 100+ million data points to search and evaluate tens of thousands of opportunities in real-time across different cities, will enable our clients to outperform the market. We’re fortunate to have an extremely talented technology team which is applying top tier big data and machine learning techniques to leverage a wide and innovative array or datasets to continuously improve upon the KonfidisRANKTM scoring methodologies to better forecast which properties will outperform the market over the long-run and generate alpha for our clients.”
Konfidis strives to democratize residential real estate investing which has historically been challenged by limited analysis tools and a lack of turn-key management solutions. Konfidis provides full-service support for its clients to evaluate and acquire investment properties with the most compelling risk-adjusted return characteristics through top-down geographic region analysis and bottom-up rental income and total return analysis; and supports the comprehensive management of those investment properties on behalf of its clients. Konfidis believes in rigorous investment opportunity due diligence practices and best-in-class governance and risk-mitigation practices; such principles are instilled in Konfidis’ product and service offering.
“On a total return basis, the Canadian residential real estate sector has been among the best performing and highly liquid asset classes globally. Canada benefits from strong population, employment, and demographic trends that bolster accelerating demand for housing,” said Shael Soberano, Chief Investment Officer of Konfidis. “Notwithstanding these strong demand drivers, there continues to be a significant undersupply of housing. Such mismatch supports continued outperformance of this asset class, especially in an inflationary environment, and will force private sector investment to innovate new housing solutions. Konfidis is dedicated to supporting investors that are seeking to benefit from these dynamics while providing Canadian families enhanced quality housing, and flexible alternatives.”
Konfidis Inc. is Canada’s leading full-service realtor brokerage and technology service provider for Canadian residential real estate investors. Konfidis strives to democratize residential real estate investing, which has historically been challenged by limited analysis tools and a lack of turn-key management solutions. Konfidis provides full-service support for its clients to evaluate and acquire investment properties with the most compelling risk-adjusted return characteristics through top-down geographic regional analysis, bottom-up rental income, and total return analysis; and supports the comprehensive management of those investment properties on behalf of its clients. As a core principle, Konfidis is dedicated to delivering enhanced solutions for Canadian families seeking high-quality and dependable long-term rental housing alternatives.
OTTAWA — At times it was the Royal Canadian Mounted Police who came for them. Other times, it was a school van. However it happened, for generations, Indigenous families in Canada had no choice but to send their children to church-run residential schools established by the government to erode their culture and languages, and to assimilate them.
A national Truth and Reconciliation Commission declared in 2015 that the schools, which operated from 1883 to 1996, were a form of “cultural genocide.”
But the profound damage inflicted by the schools didn’t stop there. The commission cataloged extensive physical, sexual and emotional abuse at the schools, which were often overcrowded, understaffed and underfunded. Disease, fire and malnourishment all brought death and suffering.
Now, the national shame of the schools is again dominating the conversation in Canada.
Since May, new technology has enabled the discovery of human remains, mostly of children, in many hundreds of unmarked graves on the grounds of three former schools in Canada — two in British Columbia and one in Saskatchewan. Who they were, how they died or even when they died may never be fully known.
were forced to attend residential schools in a forced assimilation program. Most of these schools were operated by churches, and all of them banned the use of Indigenous languages and Indigenous cultural practices, often through violence. Disease, as well as sexual, physical and emotional abuse were widespread. An estimated 150,000 children passed through the schools between their opening and their closing in 1996.
The Missing Children: A National Truth and Reconciliation Commission, set up as part of a government apology and settlement over the schools, concluded that at least 4,100 students died while attending them, many from mistreatment or neglect, others from disease or accident. In many cases, families never learned the fate of their offspring, who are now known as “the missing children.”
The Discoveries: In May, members of the Tk’emlups te Secwepemc First Nation found 215 bodies at the Kamloops school — which was operated by the Roman Catholic Church until 1969 — after bringing in ground-penetrating radar. In June, an Indigenous group said the remains of as many as 751 people, mainly children, had been found in unmarked graves on the site of a former boarding school in Saskatchewan.
Cultural Genocide’: In a 2015 report, the commission concluded that the system was a form of “cultural genocide.” Murray Sinclair, a former judge and senator who headed the commission, recently said he now believed the number of disappeared children was “well beyond 10,000.”
Apologies and Next Steps: The commission called for an apology from the pope for the Roman Catholic church’s role. Pope Francis stopped short of one, but the archbishop of Vancouver apologized on behalf of his archdiocese. Canada has formally apologized and offered financial and other search support, but Indigenous leaders believe the government still has a long way to go.
“Something good has to come out of this,” Joey Desjarlais, 73, said outside the ruins of the Muskowekwan Indian Residential School in Saskatchewan, which he was forced to attend, as were his parents, grandparents and great-grandparents. “Our children need to learn about the residential school, what we went through and what went on in there but also to learn their culture, so at least they’ll get it back.”
The image below shows girls working in the kitchen at the Bishop Horden Memorial School in Moose Factory, Ontario, around 1940.
Boys at the Shingwauk Indian Residential School playing with handmade bows, and a game of table hockey, in the 1960s.
Boys say their prayers in the dormitory at the Bishop Horden Memorial School in Moose Factory, Ontario, in 1950.
Girls at a residential school in Fort Resolution, Northwest Territories, around 1936. It is estimated that roughly one-third of all Indigenous children were enrolled in the schools by the 1930s.
Boys and girls, in their first communion outfits, posing at Spanish Indian Residential School in Spanish, Ontario, in the 1960s.
SAN FRANCISCO — President Biden and many lawmakers in Washington are worried these days about computer chips and China’s ambitions with the foundational technology.
But a massive machine sold by a Dutch company has emerged as a key lever for policymakers — and illustrates how any country’s hopes of building a completely self-sufficient supply chain in semiconductor technology are unrealistic.
The machine is made by ASML Holding, based in Veldhoven. Its system uses a different kind of light to define ultrasmall circuitry on chips, packing more performance into the small slices of silicon. The tool, which took decades to develop and was introduced for high-volume manufacturing in 2017, costs more than $150 million. Shipping it to customers requires 40 shipping containers, 20 trucks and three Boeing 747s.
The complex machine is widely acknowledged as necessary for making the most advanced chips, an ability with geopolitical implications. The Trump administration successfully lobbied the Dutch government to block shipments of such a machine to China in 2019, and the Biden administration has shown no signs of reversing that stance.
Congress is debating plans to spend more than $50 billion to reduce reliance on foreign chip manufacturers. Many branches of the federal government, particularly the Pentagon, have been worried about the U.S. dependence on Taiwan’s leading chip manufacturer and the island’s proximity to China.
A study this spring by Boston Consulting Group and the Semiconductor Industry Association estimated that creating a self-sufficient chip supply chain would take at least $1 trillion and sharply increase prices for chips and products made with them.
Moore’s Law, named after Gordon Moore, a co-founder of the chip giant Intel.
In 1997, ASML began studying a shift to usingextreme ultraviolet, or EUV, light. Such light has ultrasmall wavelengths that can create much tinier circuitry than is possible with conventional lithography. The company later decided to make machines based on the technology, an effort that has cost $8 billion since the late 1990s.
The development process quickly went global. ASML now assembles the advanced machines using mirrors from Germany and hardware developed in San Diego that generates light by blasting tin droplets with a laser. Key chemicals and components come from Japan.
a final report to Congress and Mr. Biden in March, the National Security Commission on Artificial Intelligence proposed extending export controls to some other advanced ASMLmachines as well. The group, funded by Congress, seeks to limit artificial intelligence advances with military applications.
Mr. Hunt and other policy experts argued that since China was already using those machines, blocking additional sales would hurt ASML without much strategic benefit. So does the company.
“I hope common sense will prevail,” Mr. van den Brink said.
“You can pull a less-skilled worker in and have them adapt to our system much easier,” said Ryan Hillis, a Meltwich vice president. “It certainly widens the scope of who you can have behind that grill.”
With more advanced kitchen equipment, software that allows online orders to flow directly to the restaurant and other technological advances, Meltwich needs only two to three workers on a shift, rather than three or four, Mr. Hillis said.
Such changes, multiplied across thousands of businesses in dozens of industries, could significantly change workers’ prospects. Professor Warman, the Canadian economist, said technologies developed for one purpose tend to spread to similar tasks, which could make it hard for workers harmed by automation to shift to another occupation or industry.
“If a whole sector of labor is hit, then where do those workers go?” Professor Warman said. Women, and to a lesser degree people of color, are likely to be disproportionately affected, he added.
The grocery business has long been a source of steady, often unionized jobs for people without a college degree. But technology is changing the sector. Self-checkout lanes have reduced the number of cashiers; many stores have simple robots to patrol aisles for spills and check inventory; and warehouses have become increasingly automated. Kroger in April opened a 375,000-square-foot warehouse with more than 1,000 robots that bag groceries for delivery customers. The company is even experimenting with delivering groceries by drone.
Other companies in the industry are doing the same. Jennifer Brogan, a spokeswoman for Stop & Shop, a grocery chain based in New England, said that technology allowed the company to better serve customers — and that it was a competitive necessity.
“Competitors and other players in the retail space are developing technologies and partnerships to reduce their costs and offer improved service and value for customers,” she said. “Stop & Shop needs to do the same.”