EV Maker Revving Up Autonomous Ambitionsindychinesenews.com/pdf/2018/20180309/P7 03092018.pdf · to...
1
Indy Asian American Times 7 Friday, March 09, 2018 Indy Asian American Times Web Site: www.indyaat.org Email: [email protected] [email protected] P.O. Box 852, Carmel, IN 46082-0852 Business/Perspective 经济/论谈 Joanna Zhou (周娜), now residing in Knoxville TN, immigrated to Indianapolis with her husband from Beijing in 2013, where she worked in Human Resources for a U.S. Fortune 500 company. She enjoys her new life with her husband and kept in touch with her IAAT friends and readers by contributing to this column. China’s top bank ICBC becomes biggest bond issuer on Nasdaq Dubai The Industrial and Commercial Bank of China (ICBC) became the biggest bond issuer on Nasdaq Dubai after listing two new bonds Tuesday, Dubai International Financial Center (DIFC) said. The two fixed income securities, worth 700 million U.S. dollars each, bring the total value of the ICBC listings on Nasdaq Dubai to 3.56 billion dollars in seven issuances, noted the DIFC, the international exchange of the biggest financial free zone in the Middle East. The ICBC, the world’s largest bank by assets, set up its Dubai (DIFC) branch in 2008, which is the first branch set up in the Middle East by a Chinese bank. “The listings underline the strong financial and economic relationship between Dubai and China, which is the largest trading partner of the United Arab Emirates,” the DIFC said in a statement. 工商银行在迪拜发行三支债券 中国工商银行迪拜DIFC分行在迪拜纳斯 达克上市发行三支债券。分别为4亿美元和 3亿美元的美元债券，以及5亿欧元的欧元 债券。至此，工商银行在迪拜纳斯达克共 已发布5支债券，包括2015年5月上市的5亿 美元和2016年6月上市的4亿美元债券。 Malaysian recycling firm gets boost from China’s waste ban China’s recent move to ban foreign plastic trash imports has bolstered the plastic recyclers business in the Southeast Asia, as the Western nations are looking to export more plastic waste to the region followed the ban. Heng Hiap Industries, a Malaysian recycling company, has seen its year-to-date handling waste volume surged by 28 percent year-on-year, as a result of the ban, according to its founder and chief executive officer Seah Kian Hoe. “We are working towards our target sales growth of 25 percent this year,” Seah told Xinhua in a recent interview. The better result will be supported by its export sales effort and increased capacity. 进不了中国 东南亚接手“洋垃圾” 中国去年7月宣布将禁止废塑料等固体 废物入境，2018年1月1日起正式执行新 规。依照汤森路透基金会的判断，最受打 击的是欧美、日本等发达国家的出口商。 作为经济信息发布机构，汤森路透基金会 说，中国2016年进口730万吨废塑料，占当 年全世界废塑料进口额的56%。国际回收局 所在地，是比利时首都布鲁塞尔，自我定 位为全球回收行业的民间组织。这家机构 的初步统计显示，东南亚国家的废塑料进 口量近期迅速上升。国际回收局估算，马 来西亚2017年废塑料进口量将达到45万吨 至50万吨，比2016年的28.8万吨增加超过 50%；越南进口量同比上升62%达到50万吨 至55万吨；泰国增幅达117%；印尼增幅为 65%。位于马来西亚柔佛州的兴业集团是 这一东南亚国家前五大废塑料回收企业之 一，雇有员工350人，每年可处理4万吨来 自马来西亚国内和国外的废塑料。 Direct flight to link Wuhan, Osaka China Southern Airlines will launch a direct flight linking Wuhan, capital city of central China’s Hubei Province, and the Japanese city of Osaka on March 28. The outbound flight number CZ8307 will leave Wuhan at 7:50 a.m. local time and arrive in Osaka at noon local time every Wednesday. The return flight will depart Osaka at 1:00 p.m. local time and arrive in Wuhan at 3:30 p.m. every Wednesday. The company will add another direct flight between the two cities every Sunday starting June 3. 28日起武汉可直飞日本大阪 本月28日起，武汉到日本第二大城市 大阪将有直飞航班了！赏完武大樱花，飞 去看看大阪樱花也不错。昨日，记者从 南方航空获悉，武汉直飞大阪航班号为 CZ8307/8。此外，6月3日起将增加航班， 届时每周三、周日均有武汉直飞大阪航 班。目前，南航已经开通每周二、周五武 汉直飞东京航班，可以跟大阪航班搭配行 程，一进一出游玩日本不走回头路。另 外，乘坐南航航班去日本，还可以享受每 人两件免费行李额，每件不超过23千克。 BMW forms Chinese production joint-venture with Great Wall The German luxury carmaker BMW will join forces with China’s Great Wall Motors Company Limited to shift part of the production of its “Mini” brand to China, the Munich-based company announced on Friday. Under the joint venture, electric Mini vehicles will be manufactured in China from 2019 onwards. While production is initially scheduled to continue at Mini’s traditional British factory in Oxford, BMW warned that the future of the plant was uncertain and would ultimately depend on the outcome of Brexit negotiations between the European Union (EU) and United Kingdom. 宝马将在中国研发和生产Mini电动车 与长城在商讨中 德国宝马汽车（BMW）董事Peter Schwarzenbauer周二表示，宝马将在中国 研发新一代电动迷你（Mini）车，Mini与 中国长城汽车电动车合资项目正在商讨 之中。宝马上月宣布与长城汽车签署意 向书，宝马可能成为长城汽车的第一个 海外合作伙伴，欧洲以外的第一个Mini 组装厂也将落脚中国。“它将于中国进 行研发与生产，但落脚地点还没确定 ”Schwarzenbauer在日内瓦车展开幕前对 记者表示，车展将于周二对媒体开放。“ 也可能就从中国出口。” Shanghai’s Yangpu in China, Palo Alto of California in U.S. become sister cities Shanghai’s Yangpu District in China and the U.S. city of Palo Alto in San Francisco Bay Area on Monday formally entered into sister city relationship at Palo Alto City Hall. Palo Alto, the birth place of the Silicon Valley, is the first sister city of Yangpu, the most densely populated district in Shanghai with a population of some 1.3 million, while Yangpu is the eighth sister city of Palo Alto. “We are very careful with choosing a sister city,” said Li Yaping, deputy magistrate of Yangpu District, “The two sides share natural synergy in many ways,” she said. Both Yangpu and Palo Alto are known as home to top universities and dozens of hi-tech companies. 上海杨浦区与加州PALO ALTO城市 成为姐妹城市 PALO ALTO是硅谷所在地，最近与杨浦 区成为姐妹城市，仪式在PALO ALTO市政办 公厅举行。两个城市都有着一定数量的顶 尖大学和高科技公司。 GEICO’s Growth Driven by Carmel Experience The city of Carmel’s economic development director says it is “very possible” Maryland- based GEICO’s latest big investment in the Hamilton County community might not be the last. The insurance company’s plans to invest $16 million to grow its campus and add 1,500 jobs over the next four years come after locating to Carmel in 2013. New Office to Skill-up Workforce ‘As Quickly as Possible’ Governor Eric Holcomb has launched a state office designed to help Hoosiers skill-up for in-demand fields. The Office of Apprenticeships & Work-Based Learning seeks to double the number of Indiana residents participating in apprenticeships and work-based learning programs by 2020. Work Truck Show Set For ‘Really Exciting Year’ The largest work truck event in North America kicks off this week in downtown Indianapolis. More than 11,000 visitors are expected for the annual Work Truck Show, which runs Tuesday through Friday at the Indiana Convention Center. Managing Director Doyle Sumrall says the week-long event includes educational and technological components, as well. Columbus Regional Enters ‘Next Big Phase’ Columbus Regional Health has announced a more than $11 million acquisition of nearly 800 acres in Bartholomew County. Chief Executive Officer Jim Bickel said in a video released by Columbus Regional Health, the acquisition could help add some 100 medical care providers over the next five years. Governor Adds to Disaster Declaration Governor Eric Holcomb has added four counties to a previously-declared disaster emergency stemming from widespread flooding caused by heavy rainfall last month. The addition, which includes Jackson, Kosciusko, Newton and Porter counties, brings the total under the declaration to 26. IU Celebrates Dental School Facility Opening Officials from Indiana University are celebrating the opening of the nearly $22 million oral health care clinic at the IU School of Dentistry on the IUPUI campus. The university says the Fritts Clinical Care Center is the first addition to the dental school in 40 years. Thor Makes Global Joint Venture Official Elkhart-based Thor Industries Inc. (NYSE: THO) has closed on its 50/50 joint venture with New Zealand-based Tourism Holdings Ltd. Known as TH2, the venture is focused on digitally connecting recreational vehicle enthusiasts with every aspect of RV ownership. Elevate Ventures Takes Over State Program The state’s Small Business Innovation Research and Small Business Technology Transfer program is undergoing a realignment. The Indiana Economic Development Corp. says the program, which encourages R&D, technological innovation and commercialization, will now be fully administered by Indianapolis- based Elevate Ventures. Sunday Sales Bill Exceeds Consumer Expectations With a few pen strokes and an exclamation of “cheers,” Governor Eric Holcomb marked what he calls a historic day for Indiana. Sunday carryout alcohol sales from noon-8 p.m. are now legal, ending a ban that has created years of proposed legislation that never took hold until this year. Notre Dame Research Could Uncover Infection Mechanism A University of Notre Dame researcher has been awarded a $1.1 million W.M. Keck Foundation grant to investigate the spread of deadly bacterial infections. The funding will support efforts to replicate in test tubes protein folding within cells, a complex process researchers hope to understand and find ways to stop. Lilly Breast Cancer Treatment Lands Another Approval The U.S. Food and Drug Administration has given another approval for a breast cancer treatment developed by Indianapolis-based Eli Lilly and Co. The announcement marks the third FDA approval for Verzenio in five months. DowDuPont Names Ag Spinoff DowDuPont (NYSE: DWDP) has announced the name of its agriculture company spinoff. Corteva Agriscience will be headquartered in Delaware and have global business centers in Indianapolis and Iowa. Clinic to Offer Therapies Not Available to Hoosiers Armed with a $1 million grant and a new high- profile partnership, the founder and executive director of Lawrence-based NeuroHope says he expects the new physical therapy clinic for patients recovering from brain and spinal cord injuries to cast a wider net. Chris Leeuw says the support from the state’s Spinal Cord and Brain Injury Fund will expand services and bring to Indiana therapies that are not currently available. The center, which launched three years ago, is now part of the Christopher & Dana Reeve Foundation’s NeuroRecovery Network and has exceeded its early target of providing services to 50 patients. Mr. Kim is the Chief Operation Officer and Chief Compliance Officer for Kirr Marbach & Co. LLC, an investment adviser based in Columbus IN. Please visit www.kirrmar.com. In 1936 English economist John Maynard Keynes wrote, “Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” Keynes was obviously not referring to football, but he could have been talking about the reluctance of coaches to “go for it” on fourth down and how Philadelphia’s Doug Pederson turned this conventional wisdom on its head with and two critical fourth-down plays that led to the Eagles’ 41-33 upset win over the New England Patriots in Super Bowl LII. A recent article in The New York Times said the Eagles are a client of EdjSports (www. edjsports.com), a player in the burgeoning field of sports analytics, which describes itself as “scientists committed to helping our clients win more—no matter the game, race or match.” According to the article, the Eagles apply analytics to “everything from roster management to in-game strategy.” With the goal of using analytics to increase the probability of winning (Game Winning Chance or GWC in Edj-speak), EdjSports president Tony DeFeo said, “the Eagles capture value at every turn because they understand where the value lies.” No situation illustrates both the benefit of analytics and curse of conventional wisdom than whether to “go for it” on fourth down. This past regular season, the Eagles went for it 26 times (second most to the Packers’ 28) and converted 17, not because Pederson is a wild-eyed “Philly Special” a recipe for Super Bowl/investing success gunslinger, but because he’s a cold, calculating statistician focused on process, not outcome. Leading 15-12 with 38 seconds remaining in the first half, the Eagles faced fourth down at the Patriots’ 1-yard line. Conventional wisdom is you “have to” come away with points, so kick the field goal. However, with New England getting the ball to start the second half (the Patriots would score a touchdown in less than three minutes), Pederson knew accepting the short-term risk of failure on fourth down increased his long-term chance to win the game. The Eagles completely flummoxed the Patriots (and delighted millions) by running “Philly Special,” a trick play that resulted in QB Nick Foles catching a pass for the touchdown. While “Philly Special” got the glory, Pederson’s decision to go for it on fourth-and- one from his own 45-yard line, down 33-32 with 5:39 to play was the decider. Eschewing the standard quarterback sneak, the Eagles completed a 2-yard pass that led to the game winning touchdown seven plays later. Richard Thaler of the University of Chicago won the Nobel Prize last year for his pioneering work in the field of behavioral economics. According to classic economic theory, individuals are like Mr. Spock, perfectly rational and capable of unemotionally analyzing and acting on all relevant data. In reality, Thaler asserts humans are more like Homer Simpson, highly emotional, lacking in self-control and influenced by all sorts of biases that often lead to poor decisions. Their reluctance to go for it on fourth down (particularly early in a game), even when it would improve their chances to win, shows most coaches are also more like Homer Simpson than Mr. Spock. If you want to be above average, you can’t just follow what everyone else is doing. Today’s conventional investing “wisdom” is it’s impossible to outperform “the market,” so dollars have been flooding into passively-managed index funds. That’s a recipe for mediocrity. D An electric vehicle manufacturer with a plant in Mishawaka is progressing on its autonomous vehicle efforts. SF Motors, a subsidiary of Chinese automaker Sokon Motors, with its U.S. base headquarter based in Santa Clara, California and has a multi-year research and development agreement with the University of Michigan, has received permission from the California Department of Motor Vehicles to test its autonomous driving technology on public roads. Road testing will also be conducted in Michigan and China. The company says it has made “ground-breaking progress in autonomous technologies” so far. SF Motors Chief Executive Officer John Zhang says “we believe this is the ideal time to begin putting our research to the test as we prepare to unveil our intelligent electric vehicles equipped with advanced autonomous and connectivity systems. To compete in the global EV market, We’ve placed a considerable investment in research and development and because our technology is at the core of our vehicles. We’re humbled to see our technology be deployed in our backyard and see the future of our advanced systems as exceptionally bright.” Last year, SF Motors completed the purchase of a South Bend-based AM General LLC commercial assembly plant in Mishawaka. The facility had been slated for major layoffs after an AM General contract with Mercedes- Benz U.S. International Inc. was set to end, but the California company took it over and said it would bring on the displaced workers. Chief Technology Officer Yifan Tang says “looking ahead, SF Motors targets to achieve protected autonomy in 2020 through fast innovations and iterated developments in multiple technology areas, such as deep learning, sensor fusion, path planning, human machine interface, safety and redundancy, vehicle electronics, to name a few. We will utilize our strength in system integration as well as supplier partnerships to overcome the many challenges in bringing autonomous driving to the global markets.” The company says it is planning to unveil an “intelligent” EV concept for global markets in late-March in the Silicon Valley. Photo courtesy of SF Motor EV Maker Revving Up Autonomous Ambitions Purdue Startup Aims to Increase MRI Efficiency Purdue University-affiliated startup is developing a tool to allow medical profes- sionals more effectively conduct MRI scans. MR-Link LLC’s device, which is about the size of a quarter, would allow for multiple imaging scans at once while recording electro-physio- logical signals from patients. e university says the device will help re- searchers more effectively and efficiently un- derstand a patient’s physiology. MR-Link was founded by Purdue graduate students Ranajay Mandal and Nishant Barbaria, along with Zhongming Liu, assistant professor of electri- cal and computer engineering, as well as biomedical engineering, at Purdue. Mandal says the device has the potential to improve the safety, efficacy and precision of medical diagnostics for patients with epilepsy, Parkinson’s disease, depression, and other diseases. e founders add the device, which is expected to cost a “few thousand dollars,” is not only more affordable compared to other technologies, but also could eliminate health risks while providing better imaging.
Transcript of EV Maker Revving Up Autonomous Ambitionsindychinesenews.com/pdf/2018/20180309/P7 03092018.pdf · to...
Indy Asian American Times 7 Friday, March 09, 2018
Indy Asian American Times Web Site: www.indyaat.org Email: [email protected] [email protected] P.O. Box 852, Carmel, IN 46082-0852
Business/Perspective 经济/论谈
Joanna Zhou (周娜), now residing in Knoxville TN, immigrated to Indianapolis with her husband from Beijing in 2013, where she worked in Human Resources for a U.S. Fortune 500 company. She enjoys her new life with her husband and kept in touch with her IAAT friends and readers by contributing to this column.
China’s top bank ICBC becomes biggest bond issuer on Nasdaq Dubai
The Industrial and Commercial Bank of China (ICBC) became the biggest bond issuer on Nasdaq Dubai after listing two new bonds Tuesday, Dubai International Financial Center (DIFC) said. The two fi xed income securities, worth 700 million U.S. dollars each, bring the total value of the ICBC listings on Nasdaq Dubai to 3.56 billion dollars in seven issuances, noted the DIFC, the international exchange of the biggest fi nancial free zone in the Middle East. The ICBC, the world’s largest bank by assets, set up its Dubai (DIFC) branch in 2008, which is the fi rst branch set up in the Middle East by a Chinese bank. “The listings underline the strong fi nancial and economic relationship between Dubai and China, which is the largest trading partner of the United Arab Emirates,” the DIFC said in a statement.
工商银行在迪拜发行三支债券 中国工商银行迪拜DIFC分行在迪拜纳斯达克上市发行三支债券。分别为4亿美元和3亿美元的美元债券，以及5亿欧元的欧元债券。至此，工商银行在迪拜纳斯达克共已发布5支债券，包括2015年5月上市的5亿美元和2016年6月上市的4亿美元债券。
Malaysian recycling fi rm gets boost from China’s waste ban
China’s recent move to ban foreign plastic trash imports has bolstered the plastic recyclers business in the Southeast Asia, as the Western nations are looking to export more plastic waste to the region followed the ban. Heng Hiap Industries, a Malaysian recycling company, has seen its year-to-date handling waste volume surged by 28 percent year-on-year, as a result of the ban, according to its founder and chief executive offi cer Seah Kian Hoe. “We are working towards our target sales growth of 25 percent this year,” Seah told Xinhua in a recent interview. The better result will be supported by its export sales effort and increased capacity.
进不了中国 东南亚接手“洋垃圾” 中国去年7月宣布将禁止废塑料等固体废物入境，2018年1月1日起正式执行新规。依照汤森路透基金会的判断，最受打击的是欧美、日本等发达国家的出口商。作为经济信息发布机构，汤森路透基金会说，中国2016年进口730万吨废塑料，占当年全世界废塑料进口额的56%。国际回收局所在地，是比利时首都布鲁塞尔，自我定位为全球回收行业的民间组织。这家机构的初步统计显示，东南亚国家的废塑料进口量近期迅速上升。国际回收局估算，马来西亚2017年废塑料进口量将达到45万吨至50万吨，比2016年的28.8万吨增加超过50%；越南进口量同比上升62%达到50万吨至55万吨；泰国增幅达117%；印尼增幅为65%。位于马来西亚柔佛州的兴业集团是这一东南亚国家前五大废塑料回收企业之一，雇有员工350人，每年可处理4万吨来自马来西亚国内和国外的废塑料。
Direct fl ight to link Wuhan, Osaka China Southern Airlines will launch a direct
fl ight linking Wuhan, capital city of central China’s Hubei Province, and the Japanese city of Osaka on March 28. The outbound fl ight number CZ8307 will leave Wuhan at 7:50 a.m. local time and arrive in Osaka at noon local time every Wednesday. The return fl ight will depart Osaka at 1:00 p.m. local time and arrive in Wuhan at 3:30 p.m. every Wednesday. The company will add another direct fl ight between the two cities every Sunday starting June 3.
28日起武汉可直飞日本大阪 本月28日起，武汉到日本第二大城市大阪将有直飞航班了！赏完武大樱花，飞去看看大阪樱花也不错。昨日，记者从南方航空获悉，武汉直飞大阪航班号为CZ8307/8。此外，6月3日起将增加航班，届时每周三、周日均有武汉直飞大阪航班。目前，南航已经开通每周二、周五武汉直飞东京航班，可以跟大阪航班搭配行程，一进一出游玩日本不走回头路。另外，乘坐南航航班去日本，还可以享受每人两件免费行李额，每件不超过23千克。
BMW forms Chinese production joint-venture with Great Wall
The German luxury carmaker BMW will join forces with China’s Great Wall Motors Company Limited to shift part of the production of its “Mini” brand to China, the Munich-based company announced on Friday.
Under the joint venture, electric Mini vehicles will be manufactured in China from 2019 onwards. While production is initially scheduled to continue at Mini’s traditional British factory in Oxford, BMW warned that the future of the plant was uncertain and would ultimately depend on the outcome of Brexit negotiations between the European Union (EU) and United Kingdom.
宝马将在中国研发和生产Mini电动车 与长城在商讨中 德国宝马汽车（BMW）董事Peter Schwarzenbauer周二表示，宝马将在中国研发新一代电动迷你（Mini）车，Mini与中国长城汽车电动车合资项目正在商讨之中。宝马上月宣布与长城汽车签署意向书，宝马可能成为长城汽车的第一个海外合作伙伴，欧洲以外的第一个Mini组装厂也将落脚中国。“它将于中国进行研发与生产，但落脚地点还没确定 ”Schwarzenbauer在日内瓦车展开幕前对记者表示，车展将于周二对媒体开放。“也可能就从中国出口。”
Shanghai’s Yangpu in China, Palo Alto of California in U.S. become sister cities
Shanghai’s Yangpu District in China and the U.S. city of Palo Alto in San Francisco Bay Area on Monday formally entered into sister city relationship at Palo Alto City Hall. Palo Alto, the birth place of the Silicon Valley, is the fi rst sister city of Yangpu, the most densely populated district in Shanghai with a population of some 1.3 million, while Yangpu is the eighth sister city of Palo Alto. “We are very careful with choosing a sister city,” said Li Yaping, deputy magistrate of Yangpu District, “The two sides share natural synergy in many ways,” she said. Both Yangpu and Palo Alto are known as home to top universities and dozens of hi-tech companies.
上海杨浦区与加州PALO ALTO城市成为姐妹城市
PALO ALTO是硅谷所在地，最近与杨浦区成为姐妹城市，仪式在PALO ALTO市政办公厅举行。两个城市都有着一定数量的顶尖大学和高科技公司。
GEICO’s Growth Driven by Carmel Experience
The city of Carmel’s economic development director says it is “very possible” Maryland-based GEICO’s latest big investment in the Hamilton County community might not be the last. The insurance company’s plans to invest $16 million to grow its campus and add 1,500 jobs over the next four years come after locating to Carmel in 2013.
New Offi ce to Skill-up Workforce ‘As Quickly as Possible’
Governor Eric Holcomb has launched a state offi ce designed to help Hoosiers skill-up for in-demand fi elds. The Offi ce of Apprenticeships & Work-Based Learning seeks to double the number of Indiana residents participating in apprenticeships and work-based learning programs by 2020.
Work Truck Show Set For ‘Really Exciting Year’
The largest work truck event in North America kicks off this week in downtown Indianapolis. More than 11,000 visitors are expected for the annual Work Truck Show, which runs Tuesday through Friday at the Indiana Convention Center. Managing Director Doyle Sumrall says the week-long event includes educational and technological components, as well.
Columbus Regional Enters ‘Next Big Phase’Columbus Regional Health has announced
a more than $11 million acquisition of nearly 800 acres in Bartholomew County. Chief Executive Offi cer Jim Bickel said in a video released by Columbus Regional Health, the acquisition could help add some 100 medical care providers over the next fi ve years.
Governor Adds to Disaster DeclarationGovernor Eric Holcomb has added four
counties to a previously-declared disaster emergency stemming from widespread fl ooding caused by heavy rainfall last month. The addition, which includes Jackson, Kosciusko, Newton and Porter counties, brings the total under the declaration to 26.
IU Celebrates Dental School Facility OpeningOffi cials from Indiana University are
celebrating the opening of the nearly $22 million oral health care clinic at the IU School of Dentistry on the IUPUI campus. The university says the Fritts Clinical Care Center is the fi rst addition to the dental school in 40 years.
Thor Makes Global Joint Venture Offi cialElkhart-based Thor Industries Inc. (NYSE:
THO) has closed on its 50/50 joint venture
with New Zealand-based Tourism Holdings Ltd. Known as TH2, the venture is focused on digitally connecting recreational vehicle enthusiasts with every aspect of RV ownership.
Elevate Ventures Takes Over State ProgramThe state’s Small Business Innovation
Research and Small Business Technology Transfer program is undergoing a realignment. The Indiana Economic Development Corp. says the program, which encourages R&D, technological innovation and commercialization, will now be fully administered by Indianapolis-based Elevate Ventures.
Sunday Sales Bill Exceeds Consumer Expectations
With a few pen strokes and an exclamation of “cheers,” Governor Eric Holcomb marked what he calls a historic day for Indiana. Sunday carryout alcohol sales from noon-8 p.m. are now legal, ending a ban that has created years of proposed legislation that never took hold until this year.
Notre Dame Research Could Uncover Infection Mechanism
A University of Notre Dame researcher has been awarded a $1.1 million W.M. Keck Foundation grant to investigate the spread of deadly bacterial infections. The funding will support efforts to replicate in test tubes protein folding within cells, a complex process researchers hope to understand and fi nd ways to stop.
Lilly Breast Cancer Treatment Lands Another Approval
The U.S. Food and Drug Administration has given another approval for a breast cancer treatment developed by Indianapolis-based Eli Lilly and Co. The announcement marks the third FDA approval for Verzenio in fi ve months.
DowDuPont Names Ag SpinoffDowDuPont (NYSE: DWDP) has announced
the name of its agriculture company spinoff. Corteva Agriscience will be headquartered in Delaware and have global business centers in Indianapolis and Iowa.
Clinic to Offer Therapies Not Available to Hoosiers
Armed with a $1 million grant and a new high-profi le partnership, the founder and executive director of Lawrence-based NeuroHope says he expects the new physical therapy clinic for patients recovering from brain and spinal cord injuries to cast a wider net. Chris Leeuw says the support from the state’s Spinal Cord and Brain Injury Fund will expand services and bring to Indiana therapies that are not currently available. The center, which launched three years ago, is now part of the Christopher & Dana Reeve Foundation’s NeuroRecovery Network and has exceeded its early target of providing services to 50 patients.
Mr. Kim is the Chief Operation Offi cer and Chief Compliance Offi cer for Kirr Marbach & Co. LLC, an investment adviser based in Columbus IN. Please visit www.kirrmar.com.
In 1936 English economist John Maynard Keynes wrote, “Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
Keynes was obviously not referring to football, but he could have been talking about the reluctance of coaches to “go for it” on fourth down and how Philadelphia’s Doug Pederson turned this conventional wisdom on its head with and two critical fourth-down plays that led to the Eagles’ 41-33 upset win over the New England Patriots in Super Bowl LII.
A recent article in The New York Times said the Eagles are a client of EdjSports (www.edjsports.com), a player in the burgeoning fi eld of sports analytics, which describes itself as “scientists committed to helping our clients win more—no matter the game, race or match.” According to the article, the Eagles apply analytics to “everything from roster management to in-game strategy.”
With the goal of using analytics to increase the probability of winning (Game Winning Chance or GWC in Edj-speak), EdjSports president Tony DeFeo said, “the Eagles capture value at every turn because they understand where the value lies.”
No situation illustrates both the benefi t of analytics and curse of conventional wisdom than whether to “go for it” on fourth down. This past regular season, the Eagles went for it 26 times (second most to the Packers’ 28) and converted 17, not because Pederson is a wild-eyed
“Philly Special” a recipe for Super Bowl/investing success
gunslinger, but because he’s a cold, calculating statistician focused on process, not outcome.
Leading 15-12 with 38 seconds remaining in the fi rst half, the Eagles faced fourth down at the Patriots’ 1-yard line. Conventional wisdom is you “have to” come away with points, so kick the fi eld goal. However, with New England getting the ball to start the second half (the Patriots would score a touchdown in less than three minutes), Pederson knew accepting the short-term risk of failure on fourth down increased his long-term chance to win the game.
The Eagles completely fl ummoxed the Patriots (and delighted millions) by running “Philly Special,” a trick play that resulted in QB Nick Foles catching a pass for the touchdown.
While “Philly Special” got the glory, Pederson’s decision to go for it on fourth-and-one from his own 45-yard line, down 33-32 with 5:39 to play was the decider. Eschewing the standard quarterback sneak, the Eagles completed a 2-yard pass that led to the game winning touchdown seven plays later.
Richard Thaler of the University of Chicago won the Nobel Prize last year for his pioneering work in the fi eld of behavioral economics. According to classic economic theory, individuals are like Mr. Spock, perfectly rational and capable of unemotionally analyzing and acting on all relevant data. In reality, Thaler asserts humans are more like Homer Simpson, highly emotional, lacking in self-control and infl uenced by all sorts of biases that often lead to poor decisions.
Their reluctance to go for it on fourth down (particularly early in a game), even when it
would improve their chances to win, shows most coaches are also more like Homer Simpson than Mr. Spock. If you want to be above average, you can’t just follow what everyone else is doing. Today’s conventional investing “wisdom” is it’s impossible to outperform “the market,” so dollars have been fl ooding into passively-managed index funds. That’s a recipe for mediocrity.
NASA TAPS TECHSHOT TO BUILD ‘FABLAB’ FOR MOON MARS
An electric vehicle manufacturer with a plant in Mishawaka is progressing on its autonomous vehicle efforts. SF Motors, a subsidiary of Chinese automaker Sokon Motors, with its U.S. base headquarter based in Santa Clara, California and has a multi-year research and development agreement with the University of Michigan, has received permission from the California Department of Motor Vehicles to test its autonomous driving technology on public roads.
Road testing will also be conducted in
Michigan and China. The company says it has made “ground-breaking progress in autonomous technologies” so far. SF Motors Chief Executive Offi cer John Zhang says “we believe this is the ideal time to begin putting our research to the test as we prepare to unveil our intelligent electric vehicles equipped with advanced autonomous and connectivity
systems. To compete in the global EV market,
We’ve placed a considerable investment in research and development and because our technology is at the core of our vehicles. We’re humbled to see our technology be deployed in our backyard and see the future of our advanced systems as exceptionally bright.”
Last year, SF Motors completed the purchase of a South Bend-based AM General LLC commercial assembly plant in Mishawaka. The facility had been slated for major layoffs after an AM General contract with Mercedes-Benz U.S. International Inc. was set to end, but the California company took it over and said it would bring on the displaced workers.
Chief Technology Offi cer Yifan Tang says “looking ahead, SF Motors targets to achieve protected autonomy in 2020 through fast innovations and iterated developments in multiple technology areas, such as deep learning, sensor fusion, path planning, human machine interface, safety and redundancy, vehicle electronics, to name a few. We will utilize our strength in system integration as well as supplier partnerships to overcome the many challenges in bringing autonomous driving to the global markets.” The company says it is planning to unveil an “intelligent” EV concept for global markets in late-March in the Silicon Valley.
Photo courtesy of SF Motor
EV Maker Revving Up Autonomous Ambitions
Purdue Startup Aims to Increase MRI Efficiency Purdue University-a� liated startup is developing a tool to allow medical profes-sionals more e� ectively conduct MRI scans. MR-Link LLC’s device, which is about the size of a quarter, would allow for multiple imaging scans at once while recording electro-physio-logical signals from patients. � e university says the device will help re-
searchers more e� ectively and e� ciently un-derstand a patient’s physiology. MR-Link was founded by Purdue graduate students Ranajay Mandal and Nishant Barbaria, along with Zhongming Liu, assistant professor of electri-cal and computer engineering, as well as biomedical engineering, at Purdue. Mandal says the device has the potential
to improve the safety, e� cacy and precision of medical diagnostics for patients with epilepsy, Parkinson’s disease, depression, and other diseases. � e founders add the device, which is expected to cost a “few thousand dollars,” is not only more a� ordable compared to other technologies, but also could eliminate health risks while providing better imaging.
