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HARMAN Completes Acquisition of Entertainment Lighting Company Martin Professional

STAMFORD, CT – Continuing its strategy of delivering exceptional professional audio and entertainment products to markets worldwide, HARMAN, announced today it has completed its acquisition of Martin Professional A/S of Denmark. Martin is a world leading provider of lighting solutions for the entertainment, architectural, and commercial sectors, and its acquisition advances HARMAN’s capacity to serve customers in a wide variety of applications and geographic markets with the most advanced, highly integrated AV and lighting systems.




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None more unbeatable than Djokovic at his best, says Martin

There is no one more unbeatable in men's tennis than Novak Djokovic when the Serb is at his best, former world number four American Todd Martin has said.




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Chris Martin and Mike Shinoda set for mental health awareness festival

Fans can check out the event, which kicks off at 8.30am PT each day, on 320 Festival's Facebook Live and YouTube Live pages.




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Martin Clunes stuns Good Morning Britain viewers by appearing in pyjamas: 'The ultimate boss move'

'All he needed to finish off the look was an open can of Stella' said one viewer




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Alexis Martin: Governor commutes sentence of sex trafficking survivor supported by Kim Kardashian West

Alexis Martin was serving 21 years to life behind bars




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Talking Heads: Jodie Comer and Martin Freeman to star in Alan Bennett's BBC revival

'Talking Heads' was first broadcast in 1988 and 1998





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Martin Clunes' pyjama-clad Good Morning Britain appearance delights viewers

The Doc Martin actor appeared via videolink from his Dorset home




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Lautaro Martinez to Barcelona latest: 'Big chance' Inter Milan striker will join Lionel Messi, says agent

Inter Milan striker Lautaro Martinez has a "big chance" of joining Lionel Messi at Barcelona this summer, one of his agents has said.




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Lautaro Martinez to Barcelona: Why Inter Milan striker is perfect Luis Suarez replacement

Barcelona have made Lautaro Martinez one of their top transfer targets.




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Real Madrid star Eden Hazard set to resume running after ankle surgery, says Roberto Martinez

Real Madrid attacker Eden Hazard will be running again in the next few days, Belgium coach Roberto Martinez has revealed.




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Lautaro Martinez to Barcelona: Head coach Quique Setien lifts lid on chances of signing the Inter Milan star

Barcelona head coach Quique Setien has lifted the lid on his side's pursuit of Inter Milan star Lautaro Martinez.




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Martin Odegaard looks ready for Real Madrid but Los Blancos may have to wait another year for the Norwegian

It is a little over five years since a teenage Martin Odegaard signed for Real Madrid and after three loan moves, the Norwegian finally looks ready for Los Blancos.




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Barcelona striker Martin Braithwaite reveals insight into busy lockdown training regime

Barcelona striker Martin Braithwaite says the club's training plan represents only one third of his lockdown workout routine.




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Barcelona head coach Quique Setien reveals 'huge incentive' for Lautaro Martinez to complete transfer

Barcelona head coach Quique Setien has labelled Lautaro Martinez a "great footballer" and believes the chance to play alongside Lionel Messi is a huge incentive for the Inter Milan striker.




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Martin Jol remembers Tottenham famous Ajax comeback: 'I had to pinch myself!'

Former Tottenham manager Martin Jol has described his experience of watching Spurs' famous comeback against Ajax from inside the stadium.




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Barcelona urged to sign Liverpool forward Roberto Firmino ahead of Lautaro Martinez this summer

Former Barcelona forward Bojan Krkic believes Liverpool's Roberto Firmino would be the perfect link-up man for his former side.




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Lautaro Martinez warned against Barcelona transfer: 'He'd be a substitute'

Fabio Capello has warned Lautaro Martinez against a move to Barcelona, claiming he is not guaranteed starts at the Camp Nou.




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Martin Keown recalls time he confronted Arsene Wenger in Arsenal dressing room

Keown was regularly involved in run-ins with the opposition, and even once took umbrage with his former Arsenal boss Wenger in the aftermath of a convincing victory




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Statement by Attorney General Eric Holder on Martin Luther King Day

“Each year, Martin Luther King Day provides an opportunity for all Americans to rededicate ourselves to Dr. King’s dream of racial, social, and economic justice," said Attorney General Holder.



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Federal Officials Close the Investigation into the Death of Martin Lee Anderson

The Justice Department will not pursue federal criminal civil rights charges against the eight Bay County, Fla., Boot Camp staff members involved in the incident that resulted in the death of 14-year-old Martin Lee Anderson.



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Martinair Airline Executive Indicted in Conspiracy to Fix Surcharge Rates on Air Cargo Shipments

An Atlanta grand jury returned an indictment today against an executive of Martinair Holland N.V. for participating in a conspiracy to fix and coordinate certain surcharges on air cargo shipments to and from the United States.



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Attorney General Eric Holder Speaks at the Dr. Martin Luther King, Jr. Commemorative Observance Program

"Each year, this time provides an opportunity for each of us to rededicate ourselves to Dr. King’s dream of racial, social, and economic justice. It is also a reminder of the power and importance of service to others."




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Attorney General Eric Holder Speaks at the Environmental Protection Agency’s Martin Luther King Jr. Commemorative Program

"In this time of inexplicable loss, the power of Dr. King’s example – and the importance of his commitment to, and pursuit of, justice – are brought into stark focus."




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Attorney General Eric Holder Speaks at the Shiloh Baptist Church Martin Luther King Jr. Prayer Breakfast

"I wish that Dr. King could be here with us to see the America that he helped to create," said Attorney General Holder.




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Attorney General Eric Holder Speaks at the Ebenezer Baptist Church Worship Service and Martin Luther King Jr. Celebration

"Here, in the church that Reverend King called his home, and in houses of worship across America – his spirit lives," said Attorney General Holder.




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Attorney General Eric Holder Speaks at the King Center’s Annual Martin Luther King Jr. Commemorative Event

"Dr. King’s example provides proof that, in the work of promoting peace and ensuring justice, one person can make a difference," said Attorney General Holder.




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Lockheed Martin to Pay $2 Million to Resolve Allegations Resulting from Fraudulent Submission of Government Contract

Lockheed Martin Inc. has reached a $2 million settlement with the United States to resolve False Claims Act claims in a whistleblower suit.



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Attorney General Eric Holder Speaks at the Dr. Martin Luther King, Jr. Civil Rights Luncheon

"Although more than four decades have passed since his tragic death, it is clear that Dr. King’s spirit lives on. It still has the power to bring ordinary people together to accomplish extraordinary things; to inspire acts of courage, compassion, and collaboration; and to embolden people to blaze new trails, to overcome longstanding obstacles, and, of course, to make history."




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Washington Man Sentenced to 32 Years for Attempted Bombing of Martin Luther King Unity March

Kevin William Harpham, 37, of Colville, Wash., was sentenced to 32 years in prison for the placement of the improvised explosive device alongside the planned Martin Luther King Jr. Day Unity March held on Jan. 17, 2011, in Spokane, Wash,



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Attorney General Holder Speaks at the Utah Martin Luther King Jr. Human Rights Commission Annual Drum Major Awards Luncheon

"More than half a century has passed since Dr. King traveled from Atlanta to Salt Lake City – to spread his message of hope and unity, and to sound his call for change," said Attorney General Holder.




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Attorney General Eric Holder Speaks at the Justice Department 2012 Dr. Martin Luther King, Jr. Commemorative Observance Program

"Today, we have the privilege – and the solemn duty – of enforcing the civil rights laws and reforms that Dr. King, Congressman Lewis and so many others fought to ensure," said Attorney General Holder.




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Lockheed Martin Corporation Reaches $15.85 Million Settlement with U.S. to Resolve False Claims Act Allegations

Lockheed Martin Corporation has agreed to pay $15,850,000 to settle allegations that it mischarged perishable tools used on numerous government contracts.



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Deputy Attorney General James M. Cole Speaks at the Justice Department’s Dr. Martin Luther King Jr. Commemorative Program

"For more than a quarter century, Americans from all backgrounds and walks of life have come together each January to pay tribute to Dr. King’s memory, to reflect upon his contributions in the struggle for civil rights, and to rededicate ourselves to the cause that came to define him – and which must remain our common endeavor," said Deputy Attorney General Cole.




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Justice Department Statement on the Trayvon Martin-George Zimmerman Case

As the Department first acknowledged last year, we have an open investigation into the death of Trayvon Martin. The Department of Justice's Criminal Section of the Civil Rights Division, the United States Attorney's Office for the Middle District of Florida, and the Federal Bureau of Investigation continue to evaluate the evidence generated during the federal investigation, as well as the evidence and testimony from the state trial. Experienced federal prosecutors will determine whether the evidence reveals a prosecutable violation of any of the limited federal criminal civil rights statutes within our jurisdiction, and whether federal prosecution is appropriate in accordance with the Department's policy governing successive federal prosecution following a state trial.



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Remarks as Prepared for Delivery by Associate Attorney General Tony West at the Martin Luther King Jr. Day Celebration Hosted by the Union League of Chicago

Remarks as Prepared for Delivery by Associate Attorney General Tony West at the Martin Luther King Jr. Day Celebration Hosted by the Union League of Chicago




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Justice Department and State of Texas Require Martin Marietta to Divest a Quarry and Two Rail Yards to Proceed with Acquisition of Texas Industries

The Department of Justice announced today that it will require Martin Marietta Materials Inc. to divest one Oklahoma quarry and two Texas rail yards in order to proceed with its proposed $2.7 billion acquisition of Texas Industries Inc.



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Staff Spotlight: Julia Martin

To say that the Middle East Initiative (MEI) has shaped Julia Martin’s life would be an understatement. When she was a graduate student at Harvard Divinity School, Julia invited a friend to join her for an MEI film screening of The Band’s Visit. Amr accepted. Before long, they became husband and wife, and they are now raising three children together. 

Today, Julia serves as MEI’s Assistant Director, managing its programs, budgets, and strategic planning.




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Statement of Martin Neil Baily to the public hearing concerning the Department of Labor’s proposed conflict of interest rule


Introduction

I would like to thank the Department for giving me the opportunity to testify on this important issue. The document I submitted to you is more general than most of the comments you have received, talking about the issues facing retirement savers and policymakers, rather than engaging in a point-by-point discussion of the detailed DOL proposal1.

Issues around Retirement Saving

1. Most workers in the bottom third of the income distribution will rely on Social Security to support them in retirement and will save little. Hence it is vital that we support Social Security in roughly its present form and make sure it remains funded, either by raising revenues or by scaling back benefits for higher income retirees, or both.

2. Those in the middle and upper middle income levels must now rely on 401k and IRA funds to provide income support in retirement. Many and perhaps most households lack a good understanding of the amount they need to save and how to allocate their savings. This is true even of many savers with high levels of education and capabilities.

3. The most important mistakes made are: not saving enough; withdrawing savings prior to retirement; taking Social Security benefits too early2 ; not managing tax liabilities effectively; and failing to adequately manage risk in investment choices. This last category includes those who are too risk averse and choose low-return investments as well as those that overestimate their own ability to pick stocks and time market movements. These points are discussed in the paper I submitted to DoL in July. They indicate that retirement savers can benefit substantially from good advice.

4. The market for investment advice is one where there is asymmetric information and such markets are prone to inefficiency. It is very hard to get incentives correctly aligned. Professional standards are often used as a way of dealing with such markets but these are only partially successful. Advisers may be compensated through fees paid by the investment funds they recommend, either a load fee or a wrap fee. This arrangement can create an incentive for advisers to recommend high fee plans.

5. At the same time, advisers who encourage increased saving, help savers select products with good returns and adequate diversification, and follow a strategy of holding assets until retirement provide benefits to their clients.

Implications for the DoL’s proposed conflicted interest rule

1. Disclosure. There should be a standardized and simple disclosure form provided to all households receiving investment advice, detailing the fees they will be paying based on the choices they make. Different investment choices offered to clients should be accompanied by a statement describing how the fees received by the adviser would be impacted by the alternative recommendations made to the client.

2. Implications for small-scale savers. The proposed rule will bring with it increased compliance costs. These costs, combined with a reluctance to assume more risk and a fear of litigation, may make some advisers less likely to offer retirement advice to households with modest savings. These households are the ones most in need of direction and education, but because their accounts will not turn profits for advisors, they may be abandoned. According to the Employee Benefits Security Administration (EBSA), the proposed rule will save families with IRAs more than $40 billion over the next decade. However, this benefit must be weighed against the attendant costs of implementing the rule. It is possible that the rule will leave low- and medium-income households without professional guidance, further widening the retirement savings gap. The DoL should consider ways to minimize or manage these costs. Options include incentivizing advisors to continue guiding small-scale savers, perhaps through the tax code, and promoting increased financial literacy training for households with modest savings. Streamlining and simplifying the rules would also help.

3. Need for Research on Online Solutions. The Administration has argued that online advice may be the solution for these savers, and for some fraction of this group that may be a good alternative. Relying on online sites to solve the problem seems a stretch, however. Maybe at some time in the future that will be a viable option but at present there are many people, especially in the older generation, who lack sufficient knowledge and experience to rely on web solutions. The web offers dangers as well as solutions, with the potential for sub-optimal or fraudulent advice. I urge the DoL to commission independent research to determine how well a typical saver does when looking for investment advice online. Do they receive good advice? Do they act on that advice? What classes of savers do well or badly with online advice? Can web advice be made safer? To what extent do persons receiving online advice avoid the mistakes described earlier?

4. Pitfalls of MyRA. Another suggestion by the Administration is that small savers use MyRA as a guide to their decisions and this option is low cost and safe, but the returns are very low and will not provide much of a cushion in retirement unless households set aside a much larger share of their income than has been the case historically.

5. Clarifications about education versus advice. The proposed rule distinguished education from advisement. An advisor can share general information on best practices in retirement planning, including making age-appropriate asset allocations and determining the ideal age at which to retire, without triggering fiduciary responsibility. This is certainly a useful distinction. However, some advisors could frame this general information in a way that encourages clients to make decisions that are not in their own best interest. The DoL ought to think carefully about the line between education and advice, and how to discourage advisors from sharing information in a way that leads to future conflicts of interest. One option may be standardizing the general information that may be provided without triggering fiduciary responsibility.

6. Implications for risk management. Under the proposed rule advisors may be reluctant to assume additional risk and worry about litigation. In addition to pushing small-scale savers out of the market, the rule may encourage excessive risk aversion in some advisors. General wisdom suggests that young savers should have relatively high-risk portfolios, de-risking as they age, and ending with a relatively low-risk portfolio at the end of the accumulation period. The proposed rule could cause advisors to discourage clients from taking on risk, even when the risk is generally appropriate and the investor has healthy expectations. Extreme risk aversion could decrease both market returns for investors and the “value-add” of professional advisors. The DoL should think carefully about how it can discourage conflicted advice without encouraging overzealous risk reductions.

The proposed rule is an important effort to increase consumer protection and retirement security. However, in its current form, it may open the door to some undesirable or problematic outcomes. With some thoughtful revisions, I believe the rule can provide a net benefit to the country.



1. Baily’s work has been assisted by Sarah E. Holmes. He is a Senior Fellow at the Brookings Institution and a Director of The Phoenix Companies, but the views expressed are his alone.

2. As you know, postponing Social Security benefits yields an 8 percent real rate of return, far higher than most people earn on their investments. For most of those that can manage to do so, postponing the receipt of benefits is the best decision.

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Publication: Public Hearing - Department of Labor’s Proposed Conflict of Interest Rule
Image Source: © Steve Nesius / Reuters
     
 
 




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How mother bears in Sweden are outsmarting hunters

New research suggests that mother bears have found a loophole in hunting laws and are using it to protect themselves and their cubs.




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Ready for Blast-Off: Lockheed Martin Launches Educational Program to Prepare America's Students for Deep Space Exploration - Students Travel to Mars

These students think they are boarding an ordinary school bus, but when they depart, a virtual reality experience “transports” them to the surface of Mars.




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Martin Lovett obituary

Cellist of the Amadeus String Quartet for four decades

The cellist Martin Lovett, who has died aged 93 after contracting Covid-19, acted as the musical conscience of the Amadeus String Quartet. When the playing of his three colleagues – all Austrian exiles – threatened to become too sweet, Lovett could be relied on to bring them back to the right side of good taste with a finely drawn phrase from his Stradivarius instrument.

Like Hermann Busch, a player he deeply admired, of the Busch Quartet, Lovett displayed qualities that could be overlooked when set against the wayward genius of the leader, Norbert Brainin, the virtuosity of the violist, Peter Schidlof, and the solid accomplishment of the second violinist, Siegmund Nissel. And yet his very dependability, his quintessentially British avoidance of anything that smacked of showiness or gloss, made their own contributions to the quartet’s four decades of success.

Continue reading...





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Martin Rodriguez Post-Match Interview - Match 12: Chile v Australia - FIFA Confederations Cup 2017

Hear from Chile goalscorer Martin Rodriguez, after his side drew 1-1 with Australia at the FIFA Confederations Cup 2017.




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Gonzalo Martinez, Jonathan Maidana and Jorge Moreira of River Plate walk out to warm up 

AL AIN, UNITED ARAB EMIRATES - DECEMBER 18: Gonzalo Martinez of River Plate (l), Jonathan Maidana of River Plate (middle) and Jorge Moreira of River Plate (r) walk out to warm up prior to the FIFA Club World Cup UAE 2018 Semi Final Match between River Plate and Al Ain at Hazza Bin Zayed Stadium on December 18, 2018 in Al Ain, United Arab Emirates. (Photo by Michael Regan - FIFA/FIFA via Getty Images)




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Gonzalo Martinez of River Plate takes and misses from the penalty spot

AL AIN, UNITED ARAB EMIRATES - DECEMBER 18: Gonzalo Martinez of River Plate takes and misses from the penalty spot during the FIFA Club World Cup UAE 2018 Semi Final Match between River Plate and Al Ain at Hazza Bin Zayed Stadium on December 18, 2018 in Al Ain, United Arab Emirates. (Photo by David Ramos - FIFA/FIFA via Getty Images)




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Khalid Eisa of Al Ain reacts to Gonzalo Martinez's penalty miss

AL AIN, UNITED ARAB EMIRATES - DECEMBER 18: Khalid Eisa of Al Ain reacts after saving a penalty taken by Gonzalo Martinez of River Plate (not pictured) during the FIFA Club World Cup UAE 2018 Semi Final Match between River Plate and Al Ain at Hazza Bin Zayed Stadium on December 18, 2018 in Al Ain, United Arab Emirates. (Photo by David Ramos - FIFA/FIFA via Getty Images)




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Gonzalo Martinez of River Plate is challenged by Mohamed Abdulrahman 

AL AIN, UNITED ARAB EMIRATES - DECEMBER 18: Gonzalo Martinez of River Plate is challenged by Mohamed Abdulrahman of Al Ain during the FIFA Club World Cup UAE 2018 Semi Final Match between River Plate and Al Ain at Hazza Bin Zayed Stadium on December 18, 2018 in Al Ain, United Arab Emirates. (Photo by David Ramos - FIFA/FIFA via Getty Images)




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Gonzalo Martinez of River Plate celebrates after scoring his team's second goal 

ABU DHABI, UNITED ARAB EMIRATES - DECEMBER 22: Gonzalo Martinez of River Plate celebrates after scoring his team's second goal during the FIFA Club World Cup UAE 2018 3rd Place match between River Plate and Kashima Antlers at the Zayed Sports City Stadium on December 22, 2018 in Abu Dhabi, United Arab Emirates. (Photo by David Ramos - FIFA/FIFA via Getty Images)




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Gonzalo Martinez of River Plate arrives at the stadium prior to the FIFA Club World Cup UAE 2018 3rd Place match between River Plate and Kashima Antlers

ABU DHABI, UNITED ARAB EMIRATES - DECEMBER 22: Gonzalo Martinez of River Plate arrives at the stadium prior to the FIFA Club World Cup UAE 2018 3rd Place match between River Plate and Kashima Antlers at the Zayed Sports City Stadium on December 22, 2018 in Abu Dhabi, United Arab Emirates. (Photo by Michael Regan - FIFA/FIFA via Getty Images)