Finance
Campaign finance reporting system draws ire of lawmakers
LOUISVILLE, Ky. — Lawmakers held a number of committee conferences on the Kentucky State Truthful on Thursday, separate from the continued particular session coping with japanese Kentucky flood reduction, and the conferences included an airing of grievances over the marketing campaign finance report submitting system.
Again in 2019, Sen. Damon Thayer (R-Georgetown) filed a invoice to require on-line submitting of marketing campaign monetary reviews, hoping to make campaigns extra clear.
“It has been a whole failure,” he stated. “And it’s embarrassing to me, because the sponsor of the invoice, that the implementation of the invoice has been so botched.”
Thayer took purpose at Kentucky Interactive, the company in control of overhauling the marketing campaign finance system.
He stated on-line submitting is troublesome to make use of, plagued with glitches, and the info isn’t even fully correct. He wasn’t the one lawmaker who has points with it.
“Definitely, if I used to be in most people, I’d haven’t any confidence within the system,” Sen. Chris McDaniel (R-Ryland Heights) stated.
John Steffen, govt director of the Kentucky Registry of Election Finance, stated they’ve issues on their finish, too.
“I would like you to know we maintain making an attempt. We maintain making an attempt to make it higher,” he stated. “It does get higher, slowly however absolutely, I believe, however I’m wondering if sooner or later we’ll attain the boundaries on how good it may be. I believe it was constructed on a nasty basis.”
So what will be carried out about it? Thayer pitched the concept of switching again to paper filings for the 2023 elections, however Steffen stated it’s not that straightforward for the reason that previous system is gone.
“Might we return to paper? Sure, however I believe that may be much more dangerous to disclosure and extra burdensome to everybody concerned,” he stated.
A number of different committees met on the state truthful, together with the agriculture committee, the place Louisville Mayor Greg Fischer informed lawmakers that bourbon tourism helps offset some issues downtown.
“So that is no flash within the pan,” he stated. “I believe we’re firstly of what’s going to be a a long time and decades-long run when it comes to folks having fun with bourbon and native meals, in order that’s undoubtedly good for the agriculture sector of our economic system.”
Not one of the conferences on the Kentucky State Truthful had something to do with the particular session occurring for japanese Kentucky flood reduction.
Lawmakers headed again to Frankfort for some procedural strikes late Thursday afternoon, after which closing passage of that invoice is anticipated Friday.
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Finance
American Public Education Reports Third Quarter 2024 Financial Results
Net Income & Adjusted EBITDA Performance Driven by Further Stabilization and Improvement in Rasmussen and Hondros Segments
CHARLES TOWN, W.Va., Nov. 12, 2024 /PRNewswire/ — American Public Education, Inc. (Nasdaq: APEI), a portfolio of education companies providing online and campus-based postsecondary education and career learning to over 125,000 students through four subsidiary institutions, has reported unaudited financial and operational results for the third quarter ended September 30, 2024.
“The third quarter demonstrated continued progress in the goals we set out at the beginning of this year,” said Angela Selden, President and Chief Executive Officer of APEI. “In the third quarter of 2024, Rasmussen had its first positive year over year enrollment comparison since our acquisition of the business and we expect continued momentum in that business. Hondros continues to show improvement in the third quarter and we expect further enrollment growth in the fourth quarter of this year.”
“We remain on track to deliver on the expectations we set out at the beginning of this year. We maintained that Rasmussen would be EBITDA positive in the second half of 2024 and we are on track to deliver. We are confident in our revenue, net income and Adjusted EBITDA outlook in 2024.
We believe the steps we have taken throughout last year and this year are leading to greater student engagement and outcomes and will continue to be reflected in the financial results and provide greater long term shareholder value,” concluded Selden.
Finance
The Historian’s Notebook: The Nobel Laureate Who Pioneered Modern Behavioral Finance at Yale
The Historian’s Notebook: 50 Years of Business & Society is a blog series created in preparation for the 50th anniversary of Yale SOM in September 2026. The series is written by Yale SOM’s resident historian, Michelle Spinelli. Reach out if you have an idea for a blog post, memories or photos to share, or an inquiry about SOM history.
One Thursday in January 2014, Yale SOM students, faculty, and staff packed Zhang Auditorium in the newly opened Edward P. Evans Hall to listen to Robert Shiller, now the Sterling Professor Emeritus of Economics, reprise his 2013 Nobel Prize lecture, “Speculative Asset Prices.” Nicholas Barberis, the Stephen and Camille Schramm Professor of Finance at SOM, introduced Shiller as being responsible for “some of the most innovative work of any economist in his generation.”
Just a few weeks prior, Shiller had accepted the Nobel Prize in Economic Sciences along with Eugene F. Fama and Lars Peter Hansen for research that showed that while the price of stocks and other assets cannot be predicted accurately in the very short term, more accurate predictions can be made over a period of years.
Shiller’s research, widely viewed as the starting point for modern behavioral finance, examined stock prices over the previous century and concluded that they were too volatile to be explained only by investors rationally forecasting future dividends. Instead, Shiller argued, irrational thinking, like bias and emotion, played a role. Shiller challenged the efficient market hypothesis, which holds that securities prices properly reflect all available information. The argument “got me in a lot of trouble,” Shiller later remarked, because many thought it oversimplified the place of dividends in the stock market.
Shiller’s work has helped to explain market volatility and the speculative bubbles that can be fueled by mass misinformation and herd instinct. He predicted the collapse of both the dot-com bubble and the U.S. subprime housing bubble. Shiller has also written syndicated articles and books for popular audiences, including Irrational Exuberance, an analysis and explication of speculative bubbles that focuses on real estate and the stock market, and Animal Spirits, an exploration of the government’s role in restoring confidence in the economy, which he co-authored with fellow Nobel laureate George Akerlof.
The audience at Zhang Auditorium was particularly eager to hear Shiller’s talk because of his central role in making Yale SOM a leader in behavioral finance research—the field he pioneered while at Yale. He was instrumental, for example, in facilitating a 2004 grant of $1.6 million from Yale College alum Andrew Redleaf and his company, Whitebox Advisors; the grant enabled the International Center for Finance to engage in more behavioral finance research initiatives, expand outreach, and establish the Yale Summer School in Behavioral Finance, now a widely known program.
Shiller has also attracted faculty with interest in behavioral finance to the school, including Kelly Shue, James Choi, and Barberis, who said he came to SOM in 2004 “to continue the tradition of the work that Shiller began.”
With Shiller’s support and encouragement, Barberis launched the Yale Summer School in Behavioral Finance in 2009. The one-week intensive course of study is offered every two years and educates PhD students from across the globe on path-breaking research. The summer school has now hosted close to 400 students, many of whom have become prominent behavioral finance researchers in their own right.
Shiller retired in 2022, but behavioral finance remains a core area of research and exploration at the school. “Inspired by Bob’s example, SOM faculty and graduate students have been producing remarkable behavioral finance research that has made Yale one of the leading centers, if not the leading center, for innovation in this field,” Barberis says.
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