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Epworth meets growing demand among charities for Christian investment
"Our mission is to support UK charities by offering them efficient investment options that meet their objectives" David Palmer, Chief Executive Officer
Epworth Investment Management Limited, the UK investment manager dedicated to serving the needs of churches and charities, today announces the launch of two new ethical investment funds. They are designed to meet the growing demand for Christian investment solutions, following unprecedented appetite from UK charities last year.
The Epworth Global Equity Fund for Charities and the Epworth Multi-Asset Fund for Charities, extend our long term investment options to five equity and bond funds, providing global coverage. All of these funds will be structured as Charity Authorised Investment Funds, the most modern solution available to UK charities. They are complemented by our cash deposit fund, which pays charities a competitive rate of interest, currently 0.7%, on their cash balances.
Epworth's funds are available to all UK charities and are designed to ensure their long term investment objectives are met, in a way that is consistent with Christian values.
David Palmer, Chief Executive, commented:
"Our mission is to support UK charities by offering them efficient investment options that meet their objectives. The launch of these new funds demonstrates this continued commitment, through high quality investment funds that are rooted in a Christian approach."
Mark O'Connor, Head of Business Development said:
"Our research has shown that along with good investment returns, ensuring that a charity's values are reflected is among their most important criteria when looking to invest. Our robust approach, investing in sustainable companies through a Christian lens, means that with Epworth they can enjoy the best of both worlds."
For all press queries related to Epworth please contact:
Andy Donald or Jason Ochere Epworth-maitland@maitland.co.uk Tel: 44 (0) 207 379 5151
About Epworth Investment Management
Founded in 1996, Epworth is an investment manager dedicated to serving the needs of Churches and Charities. We are stewards of our investors' money and carefully select investments using Christian ethical criteria. Epworth manages assets of £1.2bn (31/12/2018) and is wholly owned by the Central Finance Board of the Methodist Church.
Epworth Announces Sponsorship of Children & Youth Award at the 2019 Charity Awards
Marina Phillips, Chief Financial Officer will present the award on behalf of Epworth
Epworth Investment Management Limited, the UK investment manager dedicated to serving the needs of Churches and Charities, is proud to sponsor the Children & Youth Award at the 20th Annual Charity Awards. This is the second year that Epworth is sponsoring the Children & Youth category.
This year's Awards will be held on 5 June 2019 in the Pavilion at the Tower of London and will honour individuals and organisations across the charity space. The awards celebrate leadership, good governance, innovation and excellence.
Marina Phillips, Chief Financial Officer, commented: 'We feel very privileged to sponsor the Children & Youth category again. Epworth has a longstanding commitment to children as part of our Christian ethical investment process, so it is a great fit for us.'
Mark O'Connor, Head of Business Development, said: 'Charities are under incredible pressure, yet they continue to deliver for those most in need. It is important to take time out to celebrate the wonderful work of those in the charity sector and we look forward to doing so again next June.'
A good step along the way to a lower carbon world, but companies should go further
Stephen Beer, Chief Investment Officer of Epworth Investment Management Limited,
This announcement is a good step along the way to a lower carbon world. It is right that executive remuneration is linked to progress on reducing carbon emissions. Shell has set a standard here for other fossil fuel companies.
CFB and Epworth respond to Shell's announcement on carbon targets
The Central Finance Board of the Methodist Church (CFB) and Epworth Investment Management Limited (Epworth) have welcomed the announcement by Royal Dutch Shell that it will set carbon footprint targets. We are looking for still more action from fossil fuel companies on climate change.
Shell will incorporate net carbon footprint targets in its remuneration policy. It has also announced it will review its membership of lobbying organisations to ensure they are consistent with its stated positions on climate change. These are significant steps and set an example for other oil and gas companies to follow.
Shell's announcement came in a joint statement made with investment institutions which are part of the Climate Action 100+ coalition, of which the CFB and Epworth are part. Climate Action 100+ is a five year initiative led by investors to engage on climate change especially with "systemically important greenhouse gas emitters". It consists of 310 investors with over US$32 trillion in assets under management. It is coordinated by the Institutional Investors Group on Climate Change (IIGCC), of which the CFB is a founder member.
Shell has previously announced an "ambition" to reduce its Net Carbon Footprint "in step with society's drive to meet the goals of the Paris Agreement". It believes this translates to a reduction of its Net Carbon Footprint by approximately half by 2050 and around 20% by 2035. The Net Carbon Footprint includes not only direct carbon emissions from Shell, but emissions from the use of its products.
Shell has now announced that it intends to incorporate this ambition into its remuneration policies from 2020, as short term targets set each year for the following three or five years.
Stephen Beer, Chief Investment Officer of the CFB and Epworth said: "This announcement is a good step along the way to a lower carbon world. It is right that executive remuneration is linked to progress on reducing carbon emissions. Shell has set a standard here for other fossil fuel companies. We also welcome the news that Shell will review its membership of lobbying organisations. It doesn't make sense for an oil and gas company to say one thing about climate change but support a lobbying organisation which is resisting measures to limit global warming.
"However we believe Shell – and other fossil fuel companies – should go further. A key test is, what investment decisions taken by the company will now be different?"
The CFB and Epworth apply three climate change policies to their investment process. They are currently undertaking a further review of fossil fuel companies. This review aims to understand the extent to which fossil fuel companies are aligned with the Paris Agreement to limit global warming to "well below 2°C".
Stephen Beer added:
"Shell states that its Net Carbon Footprint "ambition" is set by the progress society makes to meet the Paris Agreement goals. Yet companies are part of society; they are not merely passive. This is what corporate responsibility is about.
"The Paris Agreement on climate change sets the target of limiting climate change to "well below 2 degrees". It would be great to have fossil fuel companies publicly commit to ensuring their business models will be aligned with this goal no matter what. The urgency is clear, with consensus is moving to regard a limit to global warming of +1.5°C as the key measure."
Epworth Targets Those Who Make The World A Better Place In First National Campaign
"The research was illuminating. Trust and shared values are as important to many charities as returns."
Mark O'Connor, Head of Business Development
New Affirmative Deposit Fund campaign rewards Charities with a competitive interest rate
Epworth Investment Management Limited, the UK investment manager dedicated to serving the needs of Charities, is to launch a new national campaign for its Affirmative Deposit Fund for Charities ("the Fund"). The Fund is available only to charity investors. It is designed as a safe home for a charity's cash and pays a competitive interest rate of 0.5%.
Independent research among UK charities ahead of designing the campaign showed that while a good interest rate was important, other factors also rated very highly. These were personal service, the security of knowing they could trust the organisation and that it shared their values. The campaign reflects this research and highlights that the Fund is only available to "those that make the world a better place".
Despite lower rates of interest being available to charities in recent years, the Fund has consistently paid a competitive rate. The campaign aims to get charities thinking about their cash deposits. How much interest are they receiving from their existing bank or savings accounts? Can they safely and securely improve the interest rate they are receiving with an organisation that shares their values?
The campaign will run from June to September 2018.
David Palmer, Chief Executive, commented: "At Epworth, we are dedicated to serving the investment needs of charities. We place Christian values at the heart of everything we do. We realise the importance of personal service and have a dedicated team supporting the charities that invest in this Fund."
Mark O'Connor, Head of Business Development, said: "The research was illuminating. Trust and shared values are as important to many charities as returns. This Fund will provide charities with the security they need in these key areas and also a competitive return that will support them in delivering their charitable mission."
Christian investing amidst a changing climate
Charles Jacob Memorial Lecture 2018, 24 April 2018
Chair, members of the CFB Council and Board, colleagues
I begin with a statement.
"…it is not the responsibility of the Central Finance Board to report at all to the Conference but members of the Board have regarded it as most appropriate and highly desirable that they should give an account of their stewardship, whatever the legal responsibilities…
…Those who are involved in the professional activities of the Board either as full time employees or on a voluntary basis giving their expertise to the Investment Committee and the Council are an absolutely essential part of the whole operation. The Central Finance Board could not operate without such expertise…it is important that one should follow carefully through the implications of some of the statements that have been made within the Methodist Church in the last few months to ensure that everyone is entirely clear about future options.1"
Those are not my words but the words from a draft CFB document from 1982. Charles Jacob was the Investment Manager who steered the CFB through those times. It was a pivotal time for the CFB because it saw the church wrestle with and resolve how it should best ensure it invested its assets with a Christian approach. Much was learned on all sides, leading to significant developments in ethical investment and our Christian approach to investing today.
It saw the formation by Methodist Conference of the Joint Advisory Committee on the Ethics of Investment, which continues to this day, thirty-five years on. Much has changed since and today we are an organisation fully integrated and working together with the wider Methodist Church.
It is a great honour to be giving the Charles Jacob Memorial Lecture this year, following on from two distinguished and accomplished speakers since the Lecture was inaugurated. I knew Charles a little as he continued to be in contact with the CFB after he retired, and so I got to speak to and meet him on a number of occasions.
I am now in my 25th year at the CFB and I have been well aware from the beginning that we stand on the shoulders of our predecessors. Charles, as the first Investment Manager, brought investment expertise and an investment mindset to the management of Methodist Church investments, which continues today. He also pioneered the integration of investment and ethics; work which was developed so extensively through his successor, Bill Seddon, and to which we remain wholeheartedly committed.
How can we best describe what we do? Well, not that long after I joined the CFB as a trainee I found myself being introduced to the editor of a tabloid newspaper at a conference.
"So you work for the Methodist Church?", he asked.
"Yes," I replied.
"And you invest money?"
"Yes… ethically"
"For God?"
"Er, well…"
"So you make money for God?! What a great good news story!"
We would certainly not describe ourselves this way, but there is something different about what we do.
It is this subject, which we would perhaps prefer to call 'investing with a Christian approach', that I want to address today. It is not an approach which is getting any easier. It is still the case that we seek to apply the absolute truths of the Christian faith to messy, complicated, issues. That after all is the calling of every Christian.
We can, I think, call to mind any number of challenges facing us today. Here are some examples: Modern Slavery, the power of the media, exorbitant executive pay of executives and underpayment of those they employ; tax justice; the challenge of mining; farm animal welfare, the efficient and fair use of water; the threat of plastic waste. The Central Finance Board is actively engaging with these issues and many others on behalf of the Church today.
There is one issue we are particularly focused upon and on which I want to dwell a little in a moment, and that is climate change. What should be the appropriate, the wise, and the intelligent, response of a Christian investor to climate change? And does the answer to that question shed any light on how we should approach these other issues today?
So first of all I want to consider what we mean by the term a Christian approach to investing today.
A Christian approach to investing
When we talk about Christian ethical investing, what is the impression we are seeking to convey?
I wonder, if we talked to our church congregations, or our friends outside the church, what would they understand us to be talking about?
Perhaps we mean the church does not invest in defence companies, alcohol, tobacco, and gambling companies, and avoids exposure to companies involved in pornography. This is in fact the case; we do avoid companies significantly involved with these activities. In fact, when you add up the companies we currently exclude on ethical grounds, they form almost 15% of the UK equity market. But it is not everything we do by any means.
Today, as we consider what new funds we might launch to help other churches and charities, we are looking again at how we can screen companies for certain ethical characteristics. We already do this but we want to refine the approach. And it is certainly possible to score, or rate, companies on certain criteria, with some scoring so badly we might exclude them from investment. At the same time, we continue to engage with a whole range of companies on a whole range of issues. Contact with companies is made in a variety of ways, from letters to meetings, to shareholder resolutions. There are things we want companies to do and to stop doing, derived from Biblical principles and church teaching.
But this is not actually the very first place to start.
It is easy, very easy, to implement a moralistic approach to investing. To promote a legalistic investment policy. A, 'thou shalt' – and 'thou shalt not' – approach. It is indeed not difficult to pursue a self-righteous approach…and to threaten with condemnation those who do not comply with our view of how the world should be.
Such a starting point plays into a view of God as an angry deity who demands impossible standards and who condemns those who fall short, with a church created in that image freely condemning likewise. It has links with a 'works based' theology that, as the theologian Tom Wright argues2, has pervasively infiltrated Western Christian thinking; more pagan than Christian.
We must start from a different place. A Christian approach to investing begins with God's grace, through Jesus' death and resurrection. In the words of St Paul, "all have sinned and fall short of the glory of God3" and "there is therefore now no condemnation for those who are in Christ Jesus4". This, really, is where we should start. Both as Christians in our daily lives and as Christian investors.
As we seek to apply the principles of our faith to business and society today, we have in the Bible a rich set of principles from which we can draw. But if we leave out Jesus Christ's death on the cross and his resurrection, we are not being truly Biblical at all. If we talk about Jubilee principles for cancelling debt and restructuring banks, without reference to the "founder and perfecter of our faith5", it is difficult to see how we are being distinct. And if we skip ahead to the new creation and call for a transformed environment without reference to the person and example of the person through whom "all things were made6" it is difficult to describe our approach as, fundamentally, Christian.
Our focus on God's grace should therefore lead to humility. Awareness of our own sinful nature and fallen state means we acknowledge that this side of the resurrection, no one is perfect, therefore no company of people is perfect, and, therefore, no company in which we might invest is perfect.
Moreover, we acknowledge that we will not get things right all the time as Christian investors.
Our focus on God's grace at the same time leads to hope. Hope of the resurrection and new creation. Hope that the current state of affairs is not inevitable. And a conviction that change can and should start now.
Christians have been given the 'ministry of reconciliation7', witnesses to the Gospel and to creation renewed and reconciled to its creator. It is a great responsibility, to be "ambassadors for Christ, God making his appeal through us8" and to implore others "on behalf of Christ, [to] be reconciled to God9". Yet this should give us great confidence. We have the right and the responsibility to speak clearly about what the worlds of business and finance might look like if they were "reconciled to God". More specifically, we are to do plenty of imploring of people in companies. That is, to 'beg someone earnestly or desperately'. In so doing, we need have no shame! And why should we, if we are calling mining companies to account for the number of people who have died or been injured in their operations, for example?
The business imperative
We should be clear at this point that we are supporters of the market economy. What we want to see is a just market economy.
In the words of Caritas in veritate, an encyclical letter of Pope Benedict 16th,
"The Church has always held that economic action is not to be regarded as something opposed to society. In and of itself, the market is not, and must not become, the place where the strong subdue the weak."10
"The economic sphere is neither ethically neutral, nor inherently inhuman and opposed to society. It is part and parcel of human activity and precisely because it is human, it must be structured and governed in an ethical manner."11
"Locating resources, financing, production, consumption and all the other phases in the economic cycle inevitably have moral implications. Thus every economic decision has a moral consequence."12
John Wesley would have agreed. His famous sermon The Use of Money makes in essence the same points. He notes that:
"'The love of money,' we know, 'is the root of all evil'; but not the thing itself. The fault does not lie in the money, but in them that use it. It may be used ill: and what may not? But it may likewise be used well."13
He encourages people to, yes, give all you can, to save all you can, but first to gain all you can, which he regards as "our bounden duty", which we should do earnestly and with all our God-given wisdom.
This injunction of course comes with conditions. We must not "gain money at the expense of life, nor (which is the same thing) at the expense of health." That rules out for us, and presumably others too, all sorts of occupations which demand long hours or poor conditions. We must also "gain all we can without hurting our mind any more than our body", which speaks to ethical business practice and avoidance of what he called "sinful trade". At the same time, we must gain all we can "without hurting our neighbour", whether in his substance, that is we must not exploit our neighbour's land or property, or purposefully seek to damage him economically; or "in his body", which speaks to the type of products or services with which we are associated; or "in his soul", and in this respect, Wesley argues that if we are involved in business activities which "are either sinful in themselves, or natural inlets to sin of various kinds, then, it is to be feared, you have a sad account to make." Indeed, he goes on to say, "O beware, lest God say in that day, 'These have perished in their iniquity, but their blood do I require at thy hands!'"
At this point, the Christian investor is tempted to throw up their hands and say 'Who, then, can be saved?'!14
But of course the point is we aim to do what we can, driven by grace, in humility and in hope.
No fire and brimstone but bold, loving encouragement and conviction.
And we are but one part of the picture. We are not campaigners but investors, on behalf of the church part owners of companies. We are not the prophet in the wilderness, but more those striving to be faithful where God has placed us. As Bill Seddon has remarked in the past, not like Elijah, but more like Obadiah.15
Such then is the basis for a Christian approach to investing. It is, I believe, fundamentally different from other types of ethical, or responsible, investing. A Christian approach rests firmly on the Biblical worldview, informed by centuries of church wisdom. It is rooted. We have found that this can nevertheless be an inclusive approach, bringing in and working alongside others with different worldviews but common concerns.
Our wholly-owned subsidiary, Epworth Investment Management, invests for churches and charities outside Methodism. It has a range of clients from different perspectives which are nevertheless attracted by ethical investment based on a foundation of values.
The challenge of each time may vary, but the starting point remains the same.
I believe that today, the age in which we live, this is more important than ever in the history of Christian ethical investment. It contrasts with ethics by opinion poll, or social media storm, or subject to sudden changes in the climate of public opinion.
Of course in one respect, a changing climate is of particular concern. Back in 1983, thirty five years ago, we were not thinking about global warming. Let alone the implications for Christian investment institutions.
A recent internal CFB paper noted:
According to the IPCC, for a thousand years prior to the industrial revolution (1750-1800) greenhouse gases (GHG) remained at a fairly constant state, changing for natural weather events but not from human activity . Since then, human-generated, 'anthropogenic', emissions have increased the quantity of GHG in the atmosphere, causing the mean temperature of the planet to increase by almost 1°C between 1880 and 2012 . Total anthropogenic emissions between 2000 and 2010 were the highest in human history, with 78% arising from fossil fuel combustion and industrial processes.
Two years ago, average CO2 concentrations exceeded 400 parts per million for the first time. It presents today an urgent existential threat to humankind, and the world as we know it. And a profound example of how men and women have disregarded and dismissed their Garden of Eden mandate.
The Methodist paper, Floods and Rainbows – Christian Faith Concerning the Environment, was published in 1991 before climate change was a concern, but its words are relevant:
"This is God's world. God orders, brings into being, sustains, and will ultimately complete the whole universe."16
But that as creatures made 'in the image of God',
"We are to be stewards of the world on God's behalf, custodians of its amazing richness, companions to its variety of creatures, its "priests". We are to represent the whole created order to God, and to God within the creation"
"We have become the greatest abusers of the earth, exploiting it with selfish carelessness, and adopting an attitude of ruthless arrogance towards nature."
One cause might be because the market has become a place where, in this respect, "the strong subdue the weak".17
As another Papal encyclical, Laudato Si, argues:
"…economic powers continue to justify the current global system where priority tends to be given to speculation and the pursuit of financial gain, which fail to take the context into account, let alone the effects on human dignity and the natural environment. Here we see how environmental deterioration and human and ethical degradation are closely linked. Many people will deny doing anything wrong because distractions constantly dull our consciousness of just how limited and finite our world really is. As a result, 'whatever is fragile, like the environment, is defenceless before the interests of a deified market'"18
Laudato Si goes on to argue that:
"…we need to reject a magical conception of the market, which would suggest that problems can be solved simply by an increase in the profits of companies or individuals. Is it realistic to hope that those who are obsessed with maximising profits will stop to reflect on the environmental damage which they will leave behind for future generations? Where profits alone count, there can be no thinking about the rhythms of nature, its phases of decay and regeneration, or the complexity of ecosystems which may be gravely upset by human intervention."19
We should note it is a deified market that is the problem, not markets themselves. Indeed, as a CFB paper, Theology of Creation20, noted in 2002, environmental degradation was an important feature of communist economies.
Understanding causes is important for finding solutions. But time is running out, the world including investors is having to play catch up, and the ethical case for global action is becoming stronger. If no action is taken, it is predicted that the average temperature could rise to between 3.7C and 4.8C.21
Hope in God's Future, published by the Methodist Church in Britain in 2009 – that is to say, nine years ago – makes the point that:
"In encountering biblical warnings about the consequences of failing to love and deal justly with those in need, it is hard to escape the conclusion that in continuing to emit carbon at rates that threaten our neighbours, present and future, human and other than human, we are bringing God's judgement upon us. Even here we should not despair: that God judges rather than abandons us is a sign of God's grace and continuing love for us."22
CFB action
The CFB has been playing its part.
In 2009 we launched our first policy on climate change. This committed us to managing portfolios with relatively low and declining carbon footprints, and to a focus on carbon emissions from companies whose shares we held. It applied – and still applies – to every company across all sectors.
We added to this another policy, focused more intensely on the main contributors to greenhouse gas emissions, namely electricity generators24. This policy pushed for reductions in emissions and emissions intensity from these companies. It led to one divestment, RWE, and another company, Drax, being excluded from investment, and engagement with other companies.
Two years later we published our third policy, which focused on the implications for different fuels25. We underlined our practice of encouraging companies to act consistently with reducing carbon emissions by 50% in 2050 and we took a dim view of thermal coal and tar sands. This policy led directly to a large number of exclusions, including some divestments. The largest of these was Glencore, which had significant exposure to coal, but we also excluded a large number of oil exploration companies.
And now, as you may have heard, Methodist Conference last year asked JACEI to push for an acceleration of our effort to analyse fossil fuel companies. Principally, to accelerate our assessment of the extent to which their business investment plans are aligned with the Paris Agreement to limit the average rise in temperature to "well below 2 degrees".
It is fair to say that this work has dominated our ethical investment work over the past few months. And this has happened during a major operational review, implementation of MiFID II regulations, the planning of new fund launches, the publication of at least four new ethical investment policies on other subjects, and the active management of outperforming funds. I therefore do want to acknowledge here the hard work of our dedicated team.
We will be reporting on progress to Conference in July, but I wanted to say a few words about the work today.
First, we reviewed the vast range of scenarios available. Basically, they seek to work out the implications of scientific projections of climate change for energy resources. Most go with a +2C starting point and try to reverse engineer to suggest what amounts of fossil fuels would be consumed consistent with this temperature rise. We prefer those which err on the side of caution and which do not assume there will be a large roll-out of technologies such as carbon capture and storage, which we are not convinced will happen.
At this point I should note that in the CFB we do not place much store by analyst forecasts beyond a couple of years at most, so figures forecasting fuel use in 2030, 2050, or further out we consider highly inaccurate; they will be wrong. But the point is they are illustrative projections. They give a sense of the scale of the challenge.
After identifying key scenarios, it is possible to come to some conclusions about overall global consumption of fossil fuels by certain dates – a timeline if you will. The challenge is how to assess companies rigorously in this light. What does complying with the Paris Agreement actually mean for an individual company? After all, it is clear that fossil fuels will still be consumed in a well below 2C world, if at much lower levels.
We have been developing a methodology which looks at key criteria, including asset mix, investment plans, and company strategy. We will rate companies and use that as a basis for engagement and a judgement of companies' progress. We will start with our direct holdings, but we need to view them in context. It is important to note we operate in a dynamic market economy. Things are constantly changing. Companies are adapting.
Look for example at the moves Shell has made. It now publishes Scope 3 emissions data; data on emissions from the use of its products – together with ambitions for future levels. It is a big investor in renewable energy. Can it do more? Most probably yes. The oil tanker that is Shell has turned slightly. We need to work out if it will turn sufficiently.
The bigger climate picture
That, in summary, will be the focus of much of our attention in the months to come. But I want to bring us back what we are trying to achieve. We are not trying primarily to cleanse our conscience and feel better or look better by selling some more oil companies; even though we may conclude we need to. That is pointless and hypocritical. The aim is to play our part in encouraging the world to reduce carbon emissions. And we are keen to focus attention further across the portfolios – at the companies which demand heavy use of fossil fuels and which then are responsible for emitting greenhouse gases. The utilities; the transport companies; and heavy industry. And we will continue to do so mindful of our duty to be wise stewards of church and charity investments, including the pension funds upon which our ministers and staff rely.
Some might hear echoes there of those debates thirty-five years ago but the CFB I see today is intrinsically linked and integrated with the church of which it is a part and which it serves.
Together, with others in the church fulfilling their anointed roles too, we can work to be a Christian witness to the world; with a Christian approach to investing, imploring others on behalf of Christ, and together as we navigate the complex world of investing with a Christian approach holding "fast to the hope before us…a sure and steadfast anchor…"26
Taken from a CFB draft internal document written in 1982
See for example, The Day the Revolution Began, Tom Wright, SPCK, 2016
Romans 3:23 (ESV)
Romans 8:1 (ESV)
Hebrews 12:2 (ESV)
Eg John 1:3 (ESV)
2 Corinthians 5:18 (ESV)
Caritas in veritate – Encyclical Letter of His Holiness Benedict XVI (2009)
ibid. (original emphasis)
The Use of Money John Wesley, first published 1760, this quote taken from Epworth Press 1944 (the sermon is widely available)
As Jesus's disciples in a different context in Matthew 19:25 (ESV)
See 1 Kings 18
Floods and Rainbows – Christian Faith Concerning the Environment, Methodist Church, 1991
Caritas in veritate, 2009
Encyclical letter Laudato Si' of the Holy Father Francis on Care for Our Common Home, 2015 (paragraph 56, quote is from Apostolic Exhortation Evangelii Gaudium 24 November 2013)
Ibid. Paragraph 190
The theology of creation: a position paper for the Church's investment policy relating to environmental ethics, 2002 (www.cfbmethodistchurch.org.uk/ethics)
http://www.ipcc.ch/pdf/assessment-report/ar5/wg1/WG1AR5_SPM_FINAL.pdf
Hope in God's Future, Trustees for Methodist Church Purposes 2012
Policy statement on climate change, 2009 (www.cfbmethodistchurch.org.uk/ethics)
Policy on climate change – Implications for the Electricity Generation Industry, 2013 (www.cfbmethodistchurch.org.uk/ethics)
Climate change – Implications for different fuels, 2015 www.cfbmethodistchurch.org.uk/ethics)
Hebrews 6:18,19 (ESV)
"The Charity Awards are a great opportunity to celebrate the extraordinary work that so many individuals and communities are involved with. We are honoured to be a part of this evening."
Epworth Investment Management Limited, the UK investment manager dedicated to serving the needs of Churches and Charities, is proud to sponsor the Children & Youth Award at the 19th Annual Charity Awards. The sponsorship follows Epworth's longstanding commitment to ensure it considers ethical concerns relating to children before it makes any investments.
This year's Awards will be held on 7 June 2018 at the Pavilion at the Tower of London and will honour individuals and organisations across the charity space. The awards celebrate leadership, good governance, innovation and excellence.
David Palmer, Chief Executive, commented: "This award resonates with our core Christian beliefs and day-to-day investment approach. We look forward to being able to celebrate the life-changing work that is being done by those in the Charity Sector."
Mark O'Connor, Head of Business Development said: "The Charity Awards are a great opportunity to celebrate the extraordinary work that so many individuals and communities are involved with. We are honoured to be a part of this evening."
Seda Ambartsumian or Jason Ochere
epworth-maitland@maitland.co.uk
Tel: 44 (0) 207 379 5151
Further Interest Rate Increase for Epworth's Charities Deposit Fund
"Over a year, this increase will provide around a quarter of a million pounds of additional income to support them in their great work."
David Palmer, Chief Executive Officer
Epworth Investment Management Limited, the UK investment manager dedicated to serving the needs of Churches and Charities, today announces a further increase in the interest rate payable to investors in its Affirmative Deposit Fund for Charities ("the Fund"). The interest rate increased to 0.40% (previously 0.35%) from 1 March 2018, following an earlier increase in December 2017.
The Fund continues to provide a competitive rate of interest (the best in the market for a common deposit fund) and a high level of capital security. It is an effective way for charities to maximise returns on their short-term cash surpluses, while retaining same-day access to their money. Charities currently invest around £500m in the Fund.
David Palmer, Chief Executive, commented: "We are committed to supporting our church and charity investors in delivering their mission. Over a year, this increase will provide around a quarter of a million pounds of additional income to support them in their great work."
Converting boardrooms to a higher form of capitalism
The Sunday Telegraph, Sunday 4 March 2018
After years in the shadows, the Church has become an active investor and serves as a moral compass for the FTSE 100, writes Tom Rees
'Earn all you can, save all you can, give all you can," the Methodist Church's founder John Wesley urged his followers two centuries ago. In 2018 his teachings are not considered essential reading for City fund managers but his words reverberate in the ears of Stephen Beer, chief investment officer at Epworth, an ethics-conscious asset manager owned by the Methodist Church.
An attempt by churches to shape modern corporate culture will surprise few but even the most seasoned parishioners might be unaware that they are leading the charge with investment arms managing billions of pounds.
The Church of England is also using the considerable weight of its £7.9bn investment fund to ramp up the pressure on boardrooms skimping on their social responsibilities, while also being an invaluable source of income.
The Church Commissioners, the Church of England's investment arm, donated £230.7m to the Church, some 15pc of its funding, in 2016, paying clergy pensions, keeping cathedral doors open and investing in schemes to tempt people back to the pews.
Its strategy for influencing markets has evolved from quietly avoiding so-called "sin stocks" to holding corporate giants' feet to the fire on a range of issues, from excessive pay to climate change, to modern slavery.
Church funds often avoid sinking their capital into stocks investing in arms, gambling, pornography, alcohol and tobacco, areas deemed inappropriate for the Church to profit from. Around 12pc of the FTSE All-Share Index is excluded on such ethical reasons at the Church Commissioners, for example.
Beer explains that Epworth's fund managers draw extensively on the teachings of Wesley when making moral investment decisions. Epworth tries to offset the effect of excluding a stock for ethical reasons by rebalancing its portfolio.
"If we exclude a tobacco company, our benchmark will have more in pharmaceuticals and food retailers, for example," he says.
Keeping their noses clean dominated the approach of church funds for decades but they have found their voice as the market's moral arbiters since the financial crisis, becoming active shareholders and turning up the heat on badly behaving boards.
Working conditions at Sports Direct, director bonuses at FTSE 100 housebuilder Persimmon, and inaction on global warming at US oil giant ExxonMobil have all been in the crosshairs of the Church Commissioners. In the latter case Exxon eventually bowed to shareholder pressure led by the Church to outline its plans to tackle global warming, while Persimmon's directors gave up part of their generous remuneration last week.
"They have increasingly found their voice around AGMs and proactively get involved in debates about governance, fossil fuels and green energy," says Eve Poole, author of The Church on Capitalism.
"Other ethical investors follow the Church's lead and that's helping get a head of steam around ethical investment more generally." On Friday miner Rio Tinto became the latest City heavyweight to be targeted in the Church's quest.
The Church of England Pensions Board teamed up with the Swedish National Pension Fund and Local Government Super Fund to co-file a shareholder resolution calling on the mining giant to disclose its relationship to the Australian coal lobbyists blocking efforts to tackle climate change. Environmental causes have become the Church's leading ethical issue raised with company boards, and the Church Commissioners often bring together a coalition of shareholders to help enact change. The Transition Pathway Initiative, a programme co-founded by the Church evaluating the move to a low-carbon economy, has collected support from companies with more than £5 trillion in assets under management.
"It is an investment risk but however you come at this issue it's something institutional investors need to be active on," Edward Mason, the fund's head of responsible investment, argues. "We need the products of the mining industry, they are very much the foundations of modern life, but it's a high-risk sector and it's important that ethical, social and environmental issues are handled responsibly by mining companies."
The fund is in a unique and sometimes exposed position as a holier than thou investor. The Church Commissioners were left red-faced after investing indirectly in payday lender Wonga, a company Archbishop Justin Welby had vowed to put out of business. It also had to sell its shares in Rupert Murdoch's News Corp in the wake of the phone-hacking scandal.
Welby's appointment as head of the Church of England five years ago has accelerated the Church Commissioners' search for morality in markets. Last year he described capitalism as a "broken" system needing "fundamental reform".
Poole explains that Welby's personal interest in applying pressure on corporations and the financial crisis, exposing the "casualties of capitalism in a very visceral way", has transformed the Church of England into an active shareholder.
"Because of the Church of England's structure, they are the ones running the food banks so they know what this is costing," she says. "There was always a worry about capitalism that was voiced periodically by the Church but it has got louder and louder."
A proposal to jeopardise profits for principles would be met with a stony silence in even the most virtuous boardroom, but that trade-off is not an inevitable one.
The Church Commissioners made an excellent 17.1pc return on their investments in 2016, compared to the 8.8pc average of the UK equity income sector, according to the Investment Association.
"The performance of the Commissioners' fund has been hugely impressive and that has helped turn the tide around ethical investment," says Poole.
The Church's role in capitalism is evolving from picking up those left behind to nipping ethical issues in the bud by influencing boardrooms. If it does so while continuing to reap the rewards, even the clergy of the City may be persuaded that ethical investment also pays dividends.
Step up the pressure on corporate polluters
From naughty to nice: 30 years of Christmas in the City
Originally printed in City AM, Wednesday 13 December 2017
I recently met up with an old friend that I hadn't seen in over 30 years. "I'm fat and bald now", I warned him. Unfortunately, when we met up, he agreed. As we talked, we pondered everything else that had changed.
I found myself recalling my first Christmas in the City. It was a time of deal tickets represented by little green slips that were to be put in the contracts tray by 4:30pm. If we wanted to know any "market colour", we would call the "box" on the floor of the Stock Exchange. It was their job to maintain a chalk board with all the jobbers' prices and sizes in key stocks. What felt most cutting was that, as I said this, I realised that even the term jobber is now obsolete.
Looking back, it amazes me how little regulation there was. Before we gave the actual order to the "box" we would write in the nominal, stock and whether it was a buy or a sell on our green slips. The "box" would then call back with the execution details to again be recorded on the slip. Client allocation? Well, that had to happen before the little green slip went into the contracts tray. Such lax client protection was made even worse by the fact that we only settled client positions on a net basis every two or three weeks.
It's around Christmas when these changes become more apparent than ever.
In my time, jobber, broker and client entertainment was unfettered. Previously, the firm could be as generous as it liked, putting on events throughout December. It was common for my seniors to stumble back into the office in the late afternoon after a heavy lunch. And then there were the notorious Christmas parties; many a City legend was made at those parties.
Nowadays, a combination of legislation and cultural change has thankfully stopped all that. Staff parties have a strict PAYE (pay as you earn) limit and long drinking sessions are unacceptable. I used to dread the partners coming back from their lunch at 4pm. Many people still have a drink in the Christmas week but it's kept sensible with the unwritten rule that you don't go back to the office if it's more than a couple.
One change that I'm not sure I can support is the appearance of the Christmas jumper. A couple of years ago a humorous ex-Guards chief operating officer colleague bought me one to wear in the office competition. It was at least two sizes too small and I'm not sure that the winner's round of applause was enough compensation for the humiliation.
There is one thing that hasn't changed.
At lunchtime on the last trading day before Christmas, we all finish early: not to go to the pub but to join our families. As we go our separate ways for the holidays, we all wish each other a "Happy Christmas" with a genuine smile and feeling of goodwill.
While not everyone may be off to celebrate Christ's birth, he has brought us all together anyway. It's my favourite moment in the office every year.


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FDA Approves of New Emergency Contraceptive Pill
Filed under: abortion,birth control,birth control methods,birth control options,birth control types,EC,emergency contraception,morning after pill — Tags: birth control, birth control types, contraceptive, EC, ella, EllaOne, emergency contraception, hormones, morning after pill, plan b — Amanda @ 10:04 am
The U.S Food and Drug Administration have approved of ella, a new one-dose emergency contraceptive that works longer than the current leading drug on the market. In June this year, the FDA unanimously voted that the use of ella provided convincing data and sufficient information on its safety. ella was approved last year in Europe under the name ellaOne and is currently used in 22 countries.
The FDA approved ella as a prescription-only birth control option. This ruling allows for U.S sales of the drug. Ella from HRA Pharma is to be marketed as an emergency contraceptive that can be taken within 5 days of unprotected sex or contraceptive failure. The current emergency contraceptive drug 'Plan B' is approved for use up to 3 days after unprotected intercourse.
In a trial between Plan B and ella, women randomly received one of the two pills within three to five days of having unprotected sex. Women who took ella had a 1.8 percent chance of becoming pregnant. Women who took plan B had a 2.6 percent chance.
Consequently, Plan B is currently available without a prescription for those 17 and older where as ella will require a doctor's prescription. HRA Pharma did not request an over-the-counter position for ella.
There is some concern about women becoming confused by the use of ella. Although ella prevents ovulation for as long as 5 days after sex, some women may believe that once taking ella, it can protect them against pregnancy from any additional acts of unprotected sex for 5 days. This is not true as sperm from additional sex can outlive the initial sperm past the 5 day window. In addition, the FDA is concerned about the obesity rates in the US and ella's effect on overweight and obese women. Ella seems to be less effective in obese women.
Ella works differently than Plan B. Though both emergency contraceptives contain hormones that prevent ovulation, ella also contains ulipristal, a non-hormonal drug that blocks the effects of hormones necessary for conception. Ella belongs to the same class as a drug called mifepristone – a drug that is used as a part of a treatment that induces abortion. This calls for criticism from pro-life groups who believe that ella is closer to an abortion pill than an emergency contraceptive pill. However, ella is used at lower doses that prevent conception and should not cause abortion. It is still unknown whether or not ella will affect an existing pregnancy, or if ella might increase the rate of spontaneous miscarriage in the few women who become pregnant despite using ella.
The FDA reviewers reported no life-threatening medical side effects with ella. The most common side effects were mild and included headache, nausea, and abdominal pain.
New Emergency Contraceptive – EllaOne
Filed under: pregnancy prevention — Tags: contraception, EllaOne, emergency contraceptive, morning after pill, plan b — Tanveen @ 12:11 pm
A new contraceptive pill has been discovered. The EllaOne offers what has never been available before. It can be used up to five days after unprotected sex and still reduce the chances of pregnancy significantly. Up until now Plan B was the most widely used emergency contraceptive in the market. However, EllaOne has made its mark and is in great demand.
The EllaOne is currently only sold in Europe. Talks about it coming to the United States are underway. The FDA has not approved an emergency contraceptive in years now and it is not yet known if they will approve EllaOne or not.
The emergency contraceptive that is commonly used in the United States is Plan B. Plan B can only be used up to three days after unprotected sex and is also not as effective as the EllaOne. In a recent study, it was found that 1.8% of women who took EllaOne became pregnant, and 2.6% of women who took Plan B resulted in pregnancy. To some people this may not look like a large difference. It is, however, important to acknowledge that a large majority of pregnancies are not intended to happen. Women who find themselves in this position, especially if for the first time, are unsure of what to do next or are even in denial. Having a morning after pill that offers up to five days allows for greater prevention of unwanted pregnancies. This in no ways means that you should wait for longer than need be. It is still best to take the necessary precautions when having sex and use birth control methods, if pregnancy is not wanted.
Furthermore, the EllaOne has proven to be a very controversial issue. Many people do not want this drug to be allowed into the United States. Pro-life groups, especially, are strongly against this pill. "It kills embryos, just like the abortion pill," says the president of the American Association of Pro-Life Obstetricians and Gynecologists. On the other hand, people argue that if Plan B can be sold in the US, and that too over the counter, than why can't EllaOne? We'll just have to wait and see what decision the FDA will make.

redpajama_set_name: RedPajamaCommonCrawl


From where I am getting traffic?
How many visitors have I converted into potential customers?
Google Analytics provides answers for all such questions. Google Analytics is a free Web Analytics Service that provides statistics and basic analytical tools for search engine optimization (SEO) and marketing purposes. This is a free service provided by Google to anyone having its account. It gives you the free tools you need to analyze data for your business in one place for deeper understanding of your customers. Google's unique insights and machine learning capabilities help you to understand who your website visitors are, their demographic details and how they are engaging with your website.
Then, you will be redirected to Gmail Login Page. Once you login to Google Account, you will then be greeted with the three steps you must take to set up Google Analytics.
You will then Sign Up for Google Analytics Service.
On the Analytics Home Page, you will get the screen asking for information like What would you like to track? Google Analytics gives you flexibility to get comprehensive reporting for website as well as for mobile app. In this blog, we are concerned with the website only. You can have up to 100 Google Analytics accounts under one Google account.
Further, one Google Analytics account can accommodate 50 websites. You can fill up the requisite information to get your "Tracking Code". In order to get the tracking code, you need to accept the "Terms and Conditions" of Google Analytics. Once you accept the conditions, you will get the Java Script which can help in tracking your website performance.
Now, you need to place this "Java Script" in your website header. Here I am providing details on how to place script in the Header of WordPress Website.
The Default View shows you the "Style.CSS" Style sheet.
On the left hand corner, you will get different style sheets.
Here, you need to click on the editor in order to get access to the CSS file of header. Once you click on the Editor, you will get the style sheet.
Please Note: Save the default header file before you follow the above steps so that you can update the default sheet in case something bad happens while installing Google Analytics code.
Once you set up your Analytics Account and Install it in WordPress Site, then Google will start providing you with deep insights within a week.
In case of static websites built with HTML files, you will add the tracking code before the </head> tag on each of your pages. After adding Google Analytics Files in page headers, you need to uploading the file to your web host using an FTP program (such as FileZilla).
This entry was posted in Google Products, SEO Wiki. Bookmark the permalink.


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5 ways to get a head start on tax reform planning
By Roger Russell
July 17, 2018, 10:28 a.m. EDT
The Tax Cuts and Jobs Act presents both a challenge and an opportunity for tax professionals, according to Intuit's senior tax analyst.
"It's a challenge just because of its sheer breadth," said Mike D'Avolio. "But it's also an opportunity to better serve clients by providing tax planning and advisory services."
"It can run the gamut," he said. "It can be as simple as redoing the W-4 in light of the changes to available deductions, the elimination of the personal exemption and the major increase in the standard deduction. Or the advisor could do more sophisticated planning such as a choice of entity analysis – should a business be conducted as a C corporation, or a flow-through entity such as an S corporation or partnership."
Small-business owners, in particular, have a lot to think about, so it's understandable that taxes may not always be front and center, D'Avolio advised. "However, with most major provisions of the Tax Cuts and Jobs Act being implemented in2018, now is the time to start planning," he suggested.
"It's the middle of July, so there's plenty of runway," he said. "It's an excellent time to take a step back and educate yourself, your staff and your clients."
D'Avolio suggested five areas for planning to get a head start on 2018 taxes.
1. New 20 percent deduction for qualified business income. "One of the key tax reform measures provides a 20 percent deduction beginning in tax year 2018 for income earned from sole proprietorships, limited liability companies, partnerships and S corporations," he observed. "The deduction begins to phase out at an income level of $315,000 for joint returns and can reduce the effective marginal rate to a 29.6 percent maximum. But wage income is not eligible for the lower rates on business income."
"This allows small-business owners to keep more earnings tax-free, and helps curb high rates because income flows through to individual returns. Individual rates are coming down, but small-business owners are getting hit with both sides of the self-employment tax. And the rate for C corporations – at 21 percent – is way down, so this helps pass-throughs be on a more level playing field with C corporations. It can get very complicated, and a lot of different limitations apply," he said.
2. Entity planning. Now that the corporate tax rate has been lowered to 21 percent, it might be time to examine your clients' choice of entity, "especially if they are a high-earning professional service provider such as a doctor, lawyer, or investment manager," D'Avolio suggested.
"Entity analysis is becoming more important. There could be tax savings in going from a flow-through to a C corporation because a C corporation now has the flat 21 percent tax rate," he said. "This opens the door to advanced entity planning."
3. Depreciation benefits. If a client has been thinking about new upgrades, this is an area they need to know about," he said. Business owners are now allowed to fully write-off the entire cost of new purchases with 100 percent bonus depreciation, such as computers, furniture, equipment and vehicles, in lieu of depreciating the cost of the asset over a number of years. In prior years, you could deduct only 50 percent of the cost in year one. Under a companion measure, the Section 179 tax break has been doubled from $5,000,000 to $1,000,000, which represents the amount of assets you can deduct in the first year. "Business property qualifying for this deduction has been expanded to now include fire protection, alarm systems and security systems. The depreciation limits that apply to vehicle purchases have also increased under the new law."
4. Entertainment expenses. Business-related entertainment, amusement or recreation expenses are no longer deductible under the Tax Cuts and Jobs Act, D'Avolio noted. While there is some ambiguity in this area, D'Avolio, and most commentators, believe that business meals are still 50 percent deductible.
The confusion results from the language of the act, which appears to pull all business meals under the entertainment umbrella. However, the Committee Report indicates that this is not what Congress had in mind.
"We expect the IRS to address this area and clear up any confusion," D'Avolio said.
5. Credit for family and medical leave. As part of the TCJA, employers are now able able to claim a credit based on wages paid to qualifying employees while they are on family and medical leave, D'Avolio observed. "To claim the credit you must have a written policy that provides at least two weeks of paid leave annually to all qualifying employees who work full time," he said.
"Additionally, the paid leave must be no less than 50 percent of the wages normally paid to the employee. Be sure your small-business client sets up this policy early in the year so they can claim the credit come tax time," he said.
Roger Russell
Senior editor, Accounting Today
Tax reformTrump tax planTax planningPass-through entities


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'Euphoria': Hunter Schafer Revealed There's a Shonda Rhimes Connection in Her Special Episode
Thrifty mum reveals £15 shopping list and meal plan that will feed your kids for a WEEK
Life on Mars: Red Planet once had climate like Iceland which hints at habitability
Why You Should Rethink Making These Fitness Resolutions
Dancing on Ice's Ashley Banjo defends Rufus Hound's political dig – and slams Ofcom complaints as 'nonsense'
Home » Lifestyle » Joe Biden Called On Donald Trump to "Step Up" Amid Violent Capitol Hill Mob
Joe Biden Called On Donald Trump to "Step Up" Amid Violent Capitol Hill Mob
Joe Biden addressed the violent riots in the nation's capitol on Wednesday, after Donald Trump supporters stormed the U.S. Capitol in Washington, D.C.
The President-elect called on Trump to "demand an end to this siege," and said, "At this hour, our Democracy is under unprecedented assault."
"It must end. Now," he said. "I call on this mob to pull back and allow the work of democracy to go forward."
"Today is a reminder, a painful one, that democracy is fragile. To preserve it requires people of good will. Leaders who are willing to stand up, that are devoted, not to the pursuit of power … but to the common good."
"President Trump, step up," he concluded his speech. Then as he left the staged he looked back and reporters and said, "Enough is enough is enough."
According to CNN, a pro-Trump mob pushed through barriers set up along the perimeter of the Capitol on Wednesday shortly after 1 p.m. ET, following Trump's encouragement his supporters to fight against the ceremonial counting of electoral votes that confirmed Biden's win.
New York Magazine called it "a violent crescendo to Trump's coup attempt and a clean break with a centuries-old tradition of the peaceful transfer of power."
CNN reported that a woman is in critical condition after being shot in the chest on the Capitol grounds. According to the outlet, the Senate floor was cleared of rioters as of 3:30 p.m. ET, but it's unclear if any of the individuals were taken into custody.
The controversial shortlist for this year's Man Booker prize
Jessica Chastain Says Her Daughter, 2, 'Plays with Superheroes' — Including a Kamala Harris Doll
Coronavirus prompts airlines to have face mask-related 'no fly' lists
Ben Stokes a big leader and will have 'no problems' captaining England, says Zak Crawley
Pregnant Katy Perry Says She's Not 'Maternal,' Was 'Terrified' to Have Kids
← TV News Scrambles to Cover Insurrection at U.S. Capitol in Surreal National Moment
Biden demands Trump go on live TV and denounce supporters who stormed Capitol building in DC →


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The Saint News: June 2006
The Saint's Blog devoted to news and rumors about The Saint and Leslie Charteris. Simon Templar, alias The Saint, was played by Roger Moore in the 1960's TV show featuring the Volvo 1800.
Please e-mail any current news and rumors about The Saint to:
Val Kilmer to return as The Saint?
The Gossip Monkey reports:
Kilmer returning as The Saint?
Vine rumor of the week has Val Kilmer reprising his role as "The Saint". The film didn't do that much theatrically, but apparently the studio's happy with the returns it's made on DVD/VHS, and has had a couple of conversations with Iceman about coming back for another. I doubt Phil Noyce will direct. Kilmer's a big spy fan – he was wrongfully linked to "MI:3" at one point, and then some Brit spy film with Naomi Watts – so he might even be interested. I guess if he refuses, they'll go the 'direct-to-video' route and cast a soap star in his place. Personally, I'd like to see Kilmer do another "Kiss, Kiss, Bang, Bang". It doesn't have to be a sequel – just something as witty, smart and, well, different. Paramount might be better served doing this "Saint" sequel for video.
Labels: 2006, DVD, Return of The Saint, Val Kilmer
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articulate discontent
About Eric Budd
How I'm voting in the 2019 Boulder Colorado Elections
Boulder City Council driven by fear
How I'm voting in the 2018 Colorado Elections
Resignation from the Boulder Landmarks Board
Boulder Election 2017 Analysis
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a look at societal and economic influences on human systems.
Boulder Voter Guide
I want to start with a thank you to local journalists Shay Castle (Boulder Beat), Richard Valenty, and Sam Lounsberry (Daily Camera). Without their dedication and terrific reporting, guides like this wouldn't be possible.
You can contribute to Shay Castle's fund for her voter guide or Shay Castle's Patreon to subscribe to her local news, or you can subscribe to the Boulder Daily Camera which supports number of local journalists and editorials.
City of Boulder Council Candidates
Following are the candidates for city council. You may vote for up to six (6) candidates. If you vote for six (6) or fewer, your votes in this race will be counted. If you vote for more than six (6), your votes in this race will not be counted.
As many of you know, I ran for Boulder City Council in 2017. I and a number of other candidates I had been aligned with were not elected. The result has been a movement away from housing and transportation as primary needs to address in the community, and has supported policies that make Boulder less inclusive and supportive of the change we need. When it comes to taking action on land use to fight climate change, or to move forward on flood protection for people in southeast Boulder, or making sure that the younger generation can both work and live in Boulder, the current city council has failed us drastically.
I'm voting for six candidates who share my goals for a better city:
Rachel Friend
Benita Duran
Junie Joseph
Aaron Brockett
Bob Yates
I'm supporting Rachel Friend because she's a tireless advocate for protecting people and our community. Rachel's work on assault weapons ban, flood protection for at-risk Boulder residents, and fighting to help immigrants shows why I want to see her on city council.
I'm supporting Benita Duran because Benita's work on housing, creating an inclusive community, and supporting so many of Boulder's non-profits will make her a strong, compassionate voice on city council. As a former assistant city manager, Benita will do great work with city staff and pick up the role quickly.
I'm supporting Junie Joseph because her passion, commitment, and ability to learn quickly have really impressed me. Junie brings a background of as a former UN human rights officer and CU law student who I know will fight for Boulder to help live out its values.
I'm supporting Mark McIntyre because he wants to see Boulder change for the better. Mark realizes that the status quo for our city is not enough, and we need to make real progress on housing, climate change, and safety for people on our streets. I ran with Mark in 2017 and am happy to support him again in 2019.
I'm supporting Aaron Brockett because I've always thought of him as the best example of how to be a great council member. Aaron's continued work to show up for people, really listen, and bring people in are exactly the kind of leadership we need to move forward.
I announced the previous endorsements four weeks ago on Twitter, after organizing and participating in an endorsement process for Boulder Progressives, Better Boulder, and The Coalition. At that time, I did not know to whom I would give my sixth vote. A few reasons I did not support Bob Yates at that time:
I've been disappointed with Bob's actions and alignment on homelessness. (Bob did address the event in his interview with Shay Castle, saying "'My intentions were good,'…saying it was to connect unhoused residents there with services. 'How I handled it did not serve that intention.'")
I wanted to see more engagement and proactive action on racist policing in Boulder
While Bob has voted positively to support cooperative housing and accessory dwelling units, I think we need greater change to solve the challenges Boulder has
A few reasons I'm voting for Bob Yates now:
Bob has been a champion of local businesses and local non-profits (including Community Cycles)
Bob has a strong understanding of the city budget, sales tax, and revenue challenges that continue to worsen for the city. As a recession is likely in the next 12-36 months, I want his perspective on city council during that time
Bob has been outspoken in his concerns about Boulder's energy utility municipalization. While a majority of city council will likely support the muni effort, Bob's criticism has been positive and will help the council make better decisions during a critical time when the council and public will decide whether or not we will create a utility in the 2020-2 timeframe.
My last reason is much about Bob's personality: he's been committed to openness and transparency through his regular newsletters. During the 2019 election, I've seen Bob continue to work hard for The Coalition-endorsed candidates, even though he was not officially endorsed by The Coalition due to Boulder Progressives' dissent. I appreciate the help and collaboration I've seen and hope to continue to see with the next city council.
If you are interested in reading about other candidates in the race, here are a few resources that might be helpful:
Shay Castle's 2019 Boulder City Council Candidate Profiles (Boulder Beat)
Shay Castle's one page overview of candidates and their stances (Boulder Beat)
2019 Boulder City Council candidate profiles (Daily Camera)
Boulder Election 2019: Posts and Profiles (Richard Valenty)
Daily Camera Editorial: Boulder City Council candidate endorsements (Daily Camera)
The Boulder Chamber's Candidate Scorecard (Boulder Chamber)
Boulder Valley School District RE-2 Director District A (Vote for One)
Jai Rajagopal – Daily Camera Profile
Lisa Sweeney-Miran – Daily Camera Profile
I'm voting for Lisa Sweeney-Miran. Both candidates in the race have progressive values and want to address racial and economic disparities in our school system. Jai brings a background of policy and working on staff, while Lisa brings experience of working as a director of a non-profit serving the homeless. While both would certainly bring a great energy to the board, I'm voting for Lisa Sweeney-Miran to bring her depth of experience and knowledge to the position.
Boulder Valley School District RE-2 Director District C (Vote for One)
Kathy Gebhardt (unopposed)
Boulder Valley School District RE-2 Director District D (Vote for One)
Stacey Zis (unopposed)
Connor Bunting is listed on the ballot, however, according to the Boulder County Clerk, the candidate "withdrew their candidacy after certified content was delivered to Boulder County. Votes for this candidate will not be counted."
Boulder Valley School District RE-2 Director District G (Vote for One)
Richard L. Garcia (unopposed)
Proposition CC
WITHOUT RAISING TAXES AND TO BETTER FUND PUBLIC SCHOOLS, HIGHER EDUCATION, AND ROADS, BRIDGES, AND TRANSIT, WITHIN A BALANCED BUDGET, MAY THE STATE KEEP AND SPEND ALL THE REVENUE IT ANNUALLY COLLECTS AFTER JUNE 30, 2019, BUT IS NOT CURRENTLY ALLOWED TO KEEP AND SPEND UNDER COLORADO LAW, WITH AN ANNUAL INDEPENDENT AUDIT TO SHOW HOW THE RETAINED REVENUES ARE SPENT?
I'm voting Yes/For. For those unfamiliar with Colorado's Taxpayers Bill of Rights (TABOR) law, the state must return any surplus money it was authorized to collect that exceeds the maximum amount defined when the tax law was created. Current policy is both economically inefficient in terms of the cost of refunding taxpayers a small amount of money by check and reducing the amount of money available to fund our key school, higher education, and transportation funding. Here's an explainer from 2015: How TABOR refunds work.
According to the Colorado Blue Book, if Proposition CC passes, "state law will direct the money to public schools; higher education; and roads, bridges, and transit in the year after it is collected. Each of these programs is expected to receive $103 million in the 2020-21 budget year and $114 million in the 2021-22 budget year."
Under current law, expected proceeds for the next few years would be:
"If these amounts are refunded to taxpayers, refunds are estimated to be between $26 and $90 per taxpayer per year, depending on the taxpayer's income, and double these amounts for joint filers."
Given Colorado's growing population and significant needs in transportation and education, now is the time for us to pass Prop CC and move our budget forward.
Other reads on Prop CC:
Proposition CC explained: What it means to end the spending caps in TABOR and the money at stake (Colorado Sun)
State of Colorado Proposition CC: TABOR Refunds, Education and Transportation (Richard Valenty)
KC Becker: Why can't the state benefit from a booming population and economy? (Boulder Daily Camera)
Proposition DD
SHALL STATE TAXES BE INCREASED BY TWENTY-NINE MILLION DOLLARS ANNUALLY TO FUND STATE WATER PROJECTS AND COMMITMENTS AND TO PAY FOR THE REGULATION OF SPORTS BETTING THROUGH LICENSED CASINOS BY AUTHORIZING A TAX ON SPORTS BETTING OF TEN PERCENT OF NET SPORTS BETTING PROCEEDS, AND TO IMPOSE THE TAX ON PERSONS LICENSED TO CONDUCT SPORTS BETTING OPERATIONS?
I'm voting Yes/For. However, I find Prop DD to be the most difficult item on the 2019 ballot. I think that the Colorado Sun had the most helpful write-up. There are two components of the issue: 1. the strength of the Colorado Water Plan 2. the funding mechanism used to help support the water plan (i.e. a 10% tax on sports gambling).
You can read this 567 page PDF to learn more about the Colorado Water Plan. No, I didn't read it all right now, but it's interesting to understand the main components. Much of the plan hopes to address the supply/demand gap for water in Colorado. I was fairly surprised to read that the total plan implementation would cost an estimated $20-40 billion.
The second component of the measure is regulation/taxation of sports betting, which is expected to raise "between $6 million and $15 million annually in the first three years" via Colorado Sun.
My thought process here is: Colorado seems to have massive unfunded water needs into the future. The money raised by the tax is several orders of magnitude too small to address all of the water plan, but would help. I don't find sports gambling to be a productive activity to enable, but if we are to do so, taxing that activity seems like a reasonable policy.
I wasn't able to find any compelling for/against opinions on the matter, but please let me know if you see any.
Other reads on Prop DD:
State of Colorado Proposition DD: Sports Betting and Water Projects (Richard Valenty, second item)
See who's made the biggest contributions to support Proposition DD to legalize sports betting (Biz Journals)
For now, Blue Book analysis of Prop DD is all wet (Boulder Weekly)
Backers of Proposition DD respond to growing number of critics (The Daily Sentinel)
Outdoors leaders endorse Colorado gambling measure Proposition DD (Colorado Politics)
First Prop DD Ads Focus on Water, but Financed by Gaming Industry (Denver Westword)
Colorado Prop DD: Voter's guide to sports betting ballot question (Denver Post)
Boulder County Question 1A
(Coroner Term Limit Extension to Five Terms)
Shall the term limits for the office of Coroner of Boulder County, as imposed by state law and in Article XVIII, Section 11, of the Colorado Constitution and later modified by the voters of the County to authorize three consecutive terms, be further modified to permit an elected officeholder in that office to seek and, if elected, serve a maximum of five consecutive terms?
I'm voting Yes/For. The role of a coroner is to determine a cause of death when a person dies without witnesses. The role is rarely political, and most always a professional in the field occupies the position rather than a politician. The question is similar to two years ago, when Boulder County voters were asked to increase term limits for the sheriff, which the county approved. I felt that Dave Krieger at the Daily Camera made a compelling case — Editorial: Extend the sheriff's term limit. I think that the coroner's position is even less political and should also be extended.
City of Boulder Ballot Issue 2G
TAX ON TOBACCO VAPING PRODUCTS
SHALL CITY OF BOULDER TAXES BE INCREASED TWO MILLION FIVE HUNDRED THOUSAND DOLLARS (FIRST FULL FISCAL YEAR INCREASE) ANNUALLY BY IMPOSING A SALES AND USE TAX OF UP TO 40 PERCENT OF THE RETAIL SALES PRICE OF ALL ELECTRONIC SMOKING DEVICES, INCLUDING ANY REFILL, CARTRIDGE OR COMPONENT OF SUCH A PRODUCT… (truncated)
I'm voting Yes/For. While vaping of nicotine has somewhat unknown health risks in the long term, the potential harmful effects and addictiveness for young and middle-aged people are worthy of taxation. According to the staff memo released, the tax is estimated to raise $2.5 million per year in the next several years. One other consideration raised by Shay Castle of Boulder Beat: "a risk of the tax pushing vape users to traditional cigarettes, which are more harmful to users' health. Since council didn't pursue a local tax on traditional cigarettes at the same time, vaping products will become more expensive than cigarettes." Overall, I believe we should support public health and pass a tax on vaping products.
City of Boulder Ballot Issue 2H
SALES AND USE TAX EXTENSION FOR OPEN SPACE AND LONG'S GARDENS
WITHOUT RAISING ADDITIONAL TAXES, SHALL THE EXISTING 0.15 CENT CITY SALES AND USE TAX FOR TRANSPORTATION PURPOSES, APPROVED BY THE VOTERS BY ORDINANCE NO. 7913, BE EXTENDED BEYOND THE CURRENT EXPIRATION DATE OF DECEMBER 31, 2019 UNTIL DECEMBER 31, 2039; AND BEGINNING JANUARY 1, 2020 UNTIL DECEMBER 31, 2039 DESIGNATING THE REVENUES COLLECTED TO FUND THE MAINTENANCE, RESTORATION, ACQUISITION AND PRESERVATION OF OPEN SPACE LAND INCLUDING THE USE OF FUNDS GENERATED IN THE FIRST YEAR TO PURCHASE A CONSERVATION EASEMENT AT LONG'S GARDENS LOCATED AT 3240 BROADWAY AS A VOTER APPROVED REVENUE CHANGE?
Given my love of photography, I couldn't help but repost a picture I took while observing the PLAN Boulder lit drop supporting ballot measure 2H
I'm voting Yes/For. But not without serious reservations. I'll outline my thoughts:
Open space is an important and fundamental part of Boulder that the residents cherish, and so do I.
The tax re-purposes money that was dedicated toward open space and transportation and spends the funds entirely on open space
The tax duration is 20 years, which is a significantly long time over which other priorities for sales tax may arise
Boulder has had an incredibly successful open space program. At this point, Boulder has largely bought the land around the city, without many large or ecologically valuable targets remaining. Instead, much of the money has been planned for maintenance or buying connections between existing land. I believe it's important to keep funding open space, but the amount of our community resources we put into open space compared to other priorities should be carefully examined.
Renewal of the entire tax for open space takes money away that could have been used for transportation or other needs. An article last year in the Daily Camera reports "Realignments on 30th and Colorado in Boulder could take decades, cost up to $100M". I'm particularly distressed when transportation is ignored when residents are taking their own action on bike safety—"Plunger 'protected' bike lane briefly appears on 30th Street in Boulder." Or another article this week stating "RTD Proposes 'Significant' Cuts To Bus And Train Service Over Driver Shortage."
Lastly, funding one of the largest parts of the city budget at this level for 20 years also seems short-sided given our other priorities. I expect that future councils will need to address the imbalance.
The current city council made extremely poor decisions in the use and structure of the tax, even as council members raised concerns about the plan. The city would have an immediately shortfall if the tax did not pass, which is why I support the tax in this form, but hope and expect that future councils will govern much more thoughtfully.
Other reads on Issue 2H:
2019 BALLOT MEASURE: 2H – SALES AND USE TAX EXTENSION FOR OPEN SPACE AND LONG'S GARDENS (City of Boulder)
Issue 2H Staff Memo (City of Boulder)
Ballot Issue 2H – Sales and use tax extension for open space and Long's Gardens (Boulder Beat)
Editorial: Vote yes on Ballot Issue 2H (Daily Camera)
City of Boulder Ballot Issues 2H, 2I, and 2G (Richard Valenty)
City of Boulder Ballot Issue 2I
IMPOSITION OF A MIDDLE-INCOME HOUSING PROGRAM
SHALL CITY OF BOULDER DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $10,000,000, WITH A MAXIMUM REPAYMENT COST OF NOT TO EXCEED $15,000,000, WITHOUT RAISING TAXES, TO PROVIDE FOR A HOUSING ASSISTANCE PROGRAM THAT WILL INCLUDE PERMANENTLY AFFORDABLE DEED RESTRICTIONS AND MAKE LOANS TO MIDDLE-INCOME HOUSEHOLDS TO PURCHASE HOMES SOLD IN BOULDER… (truncated)
I'm voting Yes/For. A few key points that help contextualize the ballot measure:
The ballot measure authorizes debt, but actual implementation will happen through a public process and the council will finalize details
The program is designed for a maximum of 10 loans per year, which is a relatively small impact (think larger than housing cooperatives but smaller than ADUs, and smaller than other changes that could be made to zoning)
I found Shay Castle's write-up on measure 2I incredibly helpful to think about possible implementation details.
The reality of Boulder's housing challenges is that even large amounts of subsidy do not make much impact in housing attainability. If the subsidy ends up being about $50,000 which was estimated, that does not make much impact on the affordability of the median detached home price of $1 million in Boulder.
We need to acknowledge that a detached home in Boulder is only for the rich, and won't be attainable for the middle class with or without a subsidy. In addition to downpayment assistance, Boulder needs to legalize duplexes, triplexes, and other housing options designed to reduce the total cost of home ownership and transportation in order to achieve deeper affordability.
Ballot issue 2I – Imposition of a middle-income housing program (Boulder Beat)
Issue 2I explained (Boulder Weekly)
Boulder Ballot Issue 2I: Imposition of a middle-income housing program (Daily Camera)
Please share with anyone to whom this guide might be helpful.
A reminder that ballots must be mailed no later than October 30th, and ballots may be dropped off by 7pm on Election Day, Tuesday November 5th, 2019.
If you're not a registered voter or you need to update your registration, you can register online now at Go Vote Colorado! (all you need is an updated Colorado driver's license). If you register now, you will receive a ballot in the mail. Otherwise, you can register and vote through election day.
Questions, comments, or otherwise can be emailed to me Eric Budd at ericbudd@gmail.com or on Twitter @ericmbudd
boulderelectionspolitics
Previous postBoulder City Council driven by fear
3 thoughts on "How I'm voting in the 2019 Boulder Colorado Elections"
Isolde Stewart says:
What about Nikki McCord?
ericmbudd says:
Hi Isolde,
In my role as part of Boulder Progressives, Better Boulder, and The Coalition, I invited Nikki to participate in our endorsement process for these groups back in June. Nikki declined to participate in that process.
Here's a quote from Nikki via Shay Castle: McCord: "I'm not looking toward a legacy. I'm focused on the here and now." Says she's not seeking endorsements from any groups bc they are "polarizing our community."
McCord: "I'm not looking toward a legacy. I'm focused on the here and now."
Says she's not seeking endorsements from any groups bc they are "polarizing our community."
— Shay Castle (@shayshinecastle) August 30, 2019
I respect and appreciate Nikki, and agree with her on a lot of issues. She's been outspoken about the racism that has built Boulder and the city continues to perpetuate. At the same time, I'm also looking for a group of people to work together, collaborate, and be open to engaging with interest groups to make change in Boulder—which I find in my six endorsements. With our city council system, any initiatives need at least five of nine votes to move forward on any particular issue—supporting people that are interested in forming that kind of coalition will be my first priority.
apiarystudio says:
Thanks Eric! I have thought about posting my recs on a website as well (as opposed to just social media). Would you be willing to share how much traffic this page gets by the end of the election? Since it only takes 15,000 people in Boulder to elect a Council Member, I'm super curious. I went with a no on DD based on my friend Michelle Fox's analysis, but there's a lot of synchronicity here! Thaks for doing this.


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Expert Stock Picks /
Hot Stocks / Get Much More Than Steaks and Shakes with Biglari Holdings
Get Much More Than Steaks and Shakes with Biglari Holdings
A pivot to other business sectors offers hope for loyal BH stock holders
November 10, 2020 By David Moadel, InvestorPlace Contributor Nov 10, 2020, 11:11 am EST November 10, 2020
Casual traders probably know Biglari Holdings (NYSE:BH) as a restaurant franchise owner and operator. More specifically, BH stock investors will typically view the company as the owner of fast-food restaurant chain Steak n Shake.
Source: David Tonelson/Shutterstock.com
If you're a fan of nostalgic diner-style restaurants, then you might appreciate Steak n Shake, which has been around since 1939. The problem is, we're living in a modern era in which the novel coronavirus crisis is wreaking havoc on restaurants.
Sadly, 57 Steak n Shake restaurant locations were permanently closed as the pandemic rattled the American fast-food industry. Does this mark the beginning of the end for this iconic throwback restaurant chain?
Not necessarily, as a business model change could signal a turnaround for Steak n Shake. Besides, there's more to Biglari Holdings as a value-added acquisition highlights just how diversified this company really is.
The Lowdown on BH Stock
One might assume that BH stock would be in the gutter because of the pandemic. Yet, it's never a good idea for stock traders to make assumptions without checking the facts.
The bears and skeptics should know that BH stock has staged an impressive comeback after touching its 52-week low of $37.85 in March. In fact, there were a couple of times in August when the stock breached the important $100 level.
That level is still providing resistance as BH stock was trading at around $86 on Nov. 11. Reclaiming $100 should be a major objective for the bulls this quarter. They could conceivably achieve this with one strong push to the upside.
Counter Service Model
There have been many changes in the restaurant business due to the onset of Covid-19. Some restaurants have pivoted partially or entirely to a home delivery model, for example.
Apparently, Biglari Holdings isn't necessarily prepared to shift Steak n Shake's service model to home delivery. That's understandable as this type of change might be too abrupt for a nostalgic diner.
Still, not changing at all isn't an option during the pandemic. So, Biglari Holdings announced its decision to move Steak n Shake towards a counter-service model.
I feel that this is a fair compromise. I also tend to concur with Biglari Holdings CEO Sardar Biglari that the full-service model is too costly and inefficient nowadays.
"The combination of labor-intensive, slow production with high-cost table service has led our overall labor costs to be six to eight percentage points above those incurred by our competitors," elaborated Biglari.
Insuring Against a Troubled Industry
Does the service model change for Steak n Shake guarantee success for this classic restaurant chain? Of course not. Thankfully, Biglari Holdings has more subsidiaries than Steak n Shake.
In March, Biglari Holdings acquired the stock of insurance specialist Southern Pioneer, a company that focuses on "garage liability insurance, commercial property coverage, as well as homeowners and dwelling fire
insurance coverages."
Ironically enough, this is a type of insurance for Biglari Holdings. Acquiring businesses outside of the fast-food niche could help the holding company to weather the storm if Steak n Shake continues to struggle.
Southern Pioneer isn't Biglari's only insurance-market stake. The holding company also owns First Guard Insurance Company, which specializes in commercial truck insurance.
For even more diversification, Biglari also owns Southern Oil Company as well as entertainment periodical Maxim. Plus, Biglari has (pardon the pun) a stake in steak restaurant Western Sizzlin.
That's a fairly broad array of subsidiaries, and it ought to provide a buffer for BH stock holders if Steak n Shake's modified service model isn't a resounding success.
Investing in BH stock could give you access to the future profits of an American family diner that's been around for decades.
Just as importantly, you'll get to position yourself with a holding company that's diversified enough to protect the shareholders against the restaurant industry's pandemic-driven problems.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2020/11/get-much-more-than-steaks-and-shakes-with-bh-stock/.


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You are here: Home / HHS / Food & Drug Administration / Devices / FDA: No lab-developed test final guidance in the near future
FDA: No lab-developed test final guidance in the near future
November 28, 2016 by Sarah Baumann
The FDA will not finalize its 2014 draft guidance on "FDA Notification and Medical Device Reporting of Laboratory Developed Tests" any time soon due to the changing political administration, according to a statement the agency provided to GenomeWeb. Intended to balance "patient protection with continued access and innovation," the draft guidance is unpopular in the laboratory and pathologist communities, which view lab-developed tests (LDTs) as services that should be regulated under the Clinical Laboratory Improvement Amendments (CLIA) of 1988, rather than medical devices within the FDA's regulatory purview. The FDA's hesitation stems, in part, from the uncertainty of the new political landscape, including the views of the as-of-yet unnamed incoming HHS Secretary.
The FDA has taken the position that LDTs are subject to its enforcement discretion pursuant to the Medical Device Amendments because they are intended for clinical use and designed, manufactured, and used within one laboratory (see FDA seeks notification of lab developed tests, October 3, 2014). According to GenomeWeb, the FDA believes that gaps in the CLIA-authorized system present a public health risk. However, some senators from the Republican party—which will control Congress—believe the agency is "too plodding to keep up with innovation in the molecular diagnostics space."
The agency continues to emphasize the importance of its role in regulating LDTs and is considering issuing best practices, rather than a final guidance. Senator Lamar Alexander (R-Tenn) and Representative Fred Upton (R-Mich) applauded the FDA's decision not to finalize the guidance in the near future, while the American Clinical Laboratory Association (ACLA) called it "a victory for diagnostic innovation and most importantly, patients."
FDA may allow unapproved use of medical products during emergencies
FDA issues sunscreen safety and effectiveness guidances
Draft guidance seeks to make drug labels clear, concise, more consistent
Filed Under: Devices, Food & Drug Administration, News Tagged With: guidance, lab-developed tests, laboratory regulation, laboratory testing, Medical Device Amendments


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Q: MySQL : Load Data Infile with AI PRIMARY Key and On Duplicate Key Update I find a correct solution how Load Data Infile in MySQL can work with On Duplicate Key Update. Here is the code I use (get it from stack overflow):
CREATE TEMPORARY TABLE temporary_table LIKE employee_table;

SHOW INDEX FROM temporary_table;
DROP INDEX `PRIMARY` ON temporary_table;

LOAD DATA INFILE 'csv/employee_table'
INTO TABLE temporary_table FIELDS TERMINATED BY ',' LINES TERMINATED BY '\r\n'
(
    `AutoID`, `Name`, `Age`, `Salary`
)

SHOW COLUMNS FROM employee_table;
INSERT INTO employee_table
SELECT * FROM temporary_table
ON DUPLICATE KEY UPDATE AutoID = Values(AutoID);

DROP TEMPORARY TABLE temporary_table;

This code above is working properly to update the table with new records that have different ID only. However, when the PRIMARY key is auto increment (AI), it fails to work. It shows that this below code cannot be run on auto increment PRIMARY key.
DROP INDEX `PRIMARY` ON temporary_table

Here is the error message:
#1075 - Incorrect table definition; there can be only one auto column and it must be defined as a key

I am confused since if I don't use the auto increment, it run perfectly. Anyone know how to fix this problem? Thanks in advance.

A: there is two procedure.
1) your problem solution.
mysql> DROP INDEX `PRIMARY` ON test5;
ERROR 1075 (42000): Incorrect table definition; there can be only one auto column and it must be defined as a key
mysql> show create table test5;
+-------+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| Table | Create Table                                                                                |
+-------+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| test5 | CREATE TEMPORARY TABLE `test5` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `name` varchar(50) NOT NULL,
  `address` varchar(100) DEFAULT NULL,
  PRIMARY KEY (`id`),
  UNIQUE KEY `name` (`name`)
) ENGINE=InnoDB DEFAULT CHARSET=latin1 |
+-------+------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
1 row in set (0.00 sec)

mysql> alter table test5 modify `id` int(11) NOT NULL;
Query OK, 0 rows affected (0.21 sec)
Records: 0  Duplicates: 0  Warnings: 0

mysql>
mysql> DROP INDEX `PRIMARY` ON test5;
Query OK, 0 rows affected (0.02 sec)
Records: 0  Duplicates: 0  Warnings: 0

mysql>
mysql> show create table test5;
+-------+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| Table | Create Table                                                                                |
+-------+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| test5 | CREATE TEMPORARY TABLE `test5` (
  `id` int(11) NOT NULL,
  `name` varchar(50) NOT NULL,
  `address` varchar(100) DEFAULT NULL,
  UNIQUE KEY `name` (`name`)
) ENGINE=InnoDB DEFAULT CHARSET=latin1 |
+-------+-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
1 row in set (0.00 sec)

2) Best Solution..
we can replace first (two steps) with below single query in the procedure.
1) and 2) we can create new table with same reference structure and without any indexes.
CREATE TEMPORARY TABLE temporary_table SELECT * FROM target_table WHERE 1=0;

Instead of..
1) Create a new temporary table.
CREATE TEMPORARY TABLE temporary_table LIKE target_table;

2) Optionally, drop all indices from the temporary table to speed things up.
SHOW INDEX FROM temporary_table; DROP INDEX PRIMARY ON temporary_table; DROP INDEX some_other_index ON temporary_table;

you can also refer below link.
MySQL LOAD DATA INFILE with ON DUPLICATE KEY UPDATE

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