text:
\section{Introduction}

Climate change will pose a challenge for the financial sector seeking a balance between purely financial goals -- looking for high returns -- and sustainability making a positive impact on the environment and on society. Since 2015, by adopting the Paris Agreement on climate change and the UN 2030 for Sustainable Development, there has been a clear commitment, especially in the European Union, to align financial flows with a pathway towards a low-carbon, more resource-efficient and sustainable economy. In 2018, the EU has launched and Action Plan to set out a strategy for sustainable finance, that is , ``the process of taking due account of environmental and social considerations in investment decision-making, leading to increased investments in longer-term and sustainable activities'' \cite{EU2018}. As stated in this report, to date, environmental and climate risks had not been appropriately considered by the  financial sector, which is why if the EU wants to reorient capital flows to a more sustainable economy, environmental and social goals will have to be included in the financial decision-making. To this end, the \textit{Markets in Financial Instruments Directive (MIFID II)} and the \textit{Insurance Distribution Directive (IDD)} provide that investment firms and insurance distributors should ask their clients' investments objectives as regard sustainability and take their preferences into account when providing financial advice. This implies that investors should be able to integrate in their financial decisions additional criteria beyond return and risk and then to extend the classical bi-criterion portfolio selection problem based on Markowitz mean-variance approach \cite{markowitz1952portfolio} by adding one more criterion.

In the literature, tri-criterion portfolio selection problems have been addressed by several authors making use of multicriteria decision problems (MCDM). One of the first attempts to compute the variance-expected return-sustainability surface was \cite{hirschberger2013computing}. These authors, proposed an inverse portfolio optimization algorithm using CIOS (Custom Investment Objective Solver) from the model of Markowitz and they generated a tri-criterion non dominanted surface composed of  a connected collection of parabolic "platelets''.  In \cite{utz2014tri} and \cite{utz2015tri}, the previous procedure was applied to construct a model that includes risk, expected return and sustainability, which is measured using ESG scores.  In recent years, Multi-objective Evolutionary Algorithms (MOEAs) have been proposed to handle two or more conflicting goals subject to several constraints \cite{arnone1993genetic} and in particular to address complex portfolio selection problems \cite{metaxiotis2012multiobjective}. A recent approach based on ev-MOGA \cite{herrero06ingles} has been adapted in \cite{garcia2019computing} to derive the non-dominated mean-variance-sustainability surface.

In line with the goals of the Paris Agreement, the financial flows should be consistent with a pathway towards
low greenhouse gas emissions. In recent years, in response to an increasing  climate-conscious financial products demand, Morningstar,
the most important information provider in the mutual fund industry, introduced the Low Carbon Designation eco-label \cite{Morningstar_2018}. This new mutual fund eco-label helps investors to easily recognize which mutual funds are aligned with the transition to a low-carbon economy \cite{Ceccarelli2020}. The LCD is composed of two indices, the Carbon risk score and the Fossil Fuel involvement. In our research we only consider the fund-level Carbon Risk score (from ESG Sustainalytics provider) which is obtained by weighting the firm-level exposure and management of material carbon issues. As \cite{krueger2020importance} highlights, institutional investors increasingly address climate related risk and they are also viewed as catalysing driving firms to meet the reduced emission target. Thus, the  mutual fund industry, and in particular  institutional investors is an ideal setting to test our proposal.

Our paper makes the following contributions to the literature. First, it gives a better understanding of recent multi-criteria decision making methodologies (MCDM) to deal with tri-criterion portfolio selection problems by reviewing the literature on exact methods and multi-objective genetic algorithms techniques. Second, it allows us to integrate carbon risk exposure as a new objective in the portfolio optimization procedure of institutional mutual funds. We then,  propose a recent multi-objective genetic algorithm called ev-MOGA \cite{herrero06ingles} to provide investors with the insights to make more informed decisions and to manage portfolio carbon risk expose more effectively. Third, the preferences of the decision maker are incorporated  into the solution process regarding their climate or green preferences measured by the carbon risk exposure and their loss-adverse attitude measured by the variance of returns. Taking into account the green preferences, we define three investor profiles: weak green investor, moderate green investor and strong green investor. Moreover, we also consider their attitude towards risk and then, we define three types of profiles: conservative, cautious and aggressive.

The rest of the paper is structured as follows. Section 2 starts with a review of the literature about the tri-criterion portfolio selection problem addressed either by exact or heuristic methodologies. In Section 3, the proposed tri-criterion genetic multi-objective evolutionary algorithm  for constructing low carbon portfolios is formulated including the a-posteriori approach to integrate sustainability preferences in financial decision-making.  In Section 4, we analyze the numerical results obtained by the application of the ev-MOGA using different investor profiles for a data set of  European Socially Responsible Investments (SRI) open-end funds. Finally, Section 5 concludes the paper.

\section{Exact methods vs Multi-objective Evolutionary Algorithms for extended M-V portfolio selection: a literature review}

The idea of determining the Pareto efficient frontier in portfolio selection from a mean-variance (M-V) optimization was originally conceived in \cite{markowitz1952portfolio}. The essence of the  M-V model is that risk is the investor's main concern and he/she tries to minimize risk for a desired level of expected returns. Over the years, the Markowitz model  has been extended either through more complex risk measures or through additional constraints, and in recent years through the possibility to include additional objectives. In this context,  two main approaches to deal with the extended portfolio optimization problem can be found: (i) Exact methods or (ii) Heuristic methodologies.

\subsection{M-V extended approaches by exact methods}

Since the early 1970s several authors have attempted to expand the classical bi-criteria portfolio selection model beyond the expected return and variance with exact methods. Three main groups of studies can be identified dealing with this problem. A first group of authors have expanded the Markowitz model by introducing additional constraints such as cardinality, round lots or  buy-in threshold \cite{syam1998dual,mansini2002exact,li2006optimal, bertsimas2009algorithm}.  Alternative risk measures such as down-side risk measures or CVaR have been proposed in a second group of studies \cite{bawa1975optimal,konno1991mean,rockafellar2001conditional}. A literature review on risk measures in terms of computational comparison is conducted in \cite{mansini2003lp}.

 Not until the 20th century was the idea of additional objectives was further boosted by a third group of studies. A tri-criterion non dominated surface can be found in \cite{hirschberger2013computing,utz2014tri,utz2015tri} using a constrained linear program (QCLP) approach by solving a quad-lin-lin optimization problem where the third objective is linear. By defining several measures of liquidity in \cite{lo2003-liquidity} a three-dimensional mean-variance-liquidity frontier is constructed.  A general framework for computing the non-dominated surface in tri-criterion portfolio selection that extends the Markowitz portfolio selection approach to an additional linear criterion (dividends, liquidity or sustainability) is addressed in \cite{hirschberger2013computing}. By solving a quad-lin-lin program, they provide an exact method for computing the non-dominated surface that can outperform standard portfolio strategies for multicriteria decision makers. An empirical application where the third criterion is sustainability is developed to illustrate how to compose the non-dominated surface.

In \cite{utz2014tri} sustainability is included as the third criterion to obtain the variance-expected return-sustainability efficient frontier in order to explain how the sustainable mutual fund industry can increase its levels of sustainability. The tri-criterion non-dominated surface is computed through the Quadratic Constrained Linear Program (QCLP) approach, and from the experimental results it can be concluded that there was room to expand the sustainability levels without hampering the levels of risk and return.

However, the existing proposals based on exact procedures to solve tri-criteria portfolio selection problems have limited capabilities when the third objective is non-linear. In such cases, heuristic techniques have been recently applied to solve multi-objective problems and to provide fair approximations of the pareto front.

\subsection{MOEAs and the extended M-V portfolio optimization problem } \label{s:MOEAS_portfolio}

The increasing complexity of financial decision making problems has led researchers to apply heuristic procedures inspired by biological processes such as Multi-objective Evolutionary Algorithms (MOEAs). Suggested in the beginning of the 90s, MOEAs have been applied in several fields including finance,  and in particular to solve the portfolio selection problem \cite{maringer2006portfolio,coello2006evolutionary}.  These techniques provide satisfactory approximations of the efficient frontier even when the problem involves non-convexity, discontinuity or non integer variables. In \cite{arnone1993genetic}, a MOEA was proposed for the first time for optimal portfolio selection by using lower partial moments as a measure of risk. The first attempts to propose MOEAs as an extension of the M-V model aimed at considering additional constrains such as, cardinality, lower and upper bounds, transaction costs, transaction round lots, non-negativity constraints or sector capitalization constraints \cite{chang2000heuristics, maringer2003optimization,shaw2008lagrangian,bertsimas2009algorithm,soleimani2009markowitz,deng2010swarm,anagnostopoulos2011mean,woodside2011heuristic,meghwani2017multi,liagkouras2018new}. A review of the state of the art of MOEAs in portfolio selection can be found in \cite{metaxiotis2012multiobjective}.

Another group of researchers have also tried to propose alternative risk measures to variance, the most popular being: semivariance, value at risk (VaR) and conditional value at risk (CVaR), the lower partial moments (LPM), the Expected Shortfall, the Skewness, and Risk parity \cite{gilli2006data,chang2009portfolio,hochreiter2007evolutionary, liagkouras2019new,kaucic2019portfolio}

Regarding the number of objectives, while the two-objective case is the most widely used among the authors, the  tri-objective problem has risen in popularity in the last few years. A tri-objective optimization problem is proposed in \cite{anagnostopoulos2010portfolio}  to find the trade-off between risk, return and the number of securities in the portfolio. In this paper, the authors compare three evolutionary multi-objective optimization techniques for finding the best trade-off between risk, return and the cardinality of the portfolio.  A recent approach based on ev-MOGA \cite{herrero06ingles} has been adapted in \cite{garcia2019computing} to derive the non-dominated mean-variance-sustainability surface.

\section{The tri-criterion multi-objective approach by ev-MOGA to manage carbon risk exposure}

During the last two decades, MOEAs for portfolio management have attracted scholars and practitioners attention as stated in \autoref{s:MOEAS_portfolio}. Next, some previous notions on multi-objective optimization and genetic multi-objective optimization techniques are provided.

\subsection{Background on multi-objective optimization and ev-MOGA}

\newcommand{\omega}{\omega}
\newcommand{\mathbf{w}}{\mathbf{w}}
\newcommand{\mathbf{\Upomega}}{\mathbf{\Upomega}}

\newcommand{\Vp_{\!P}}{\mathbf{\Upomega}_{\!P}}
\newcommand{\mathbf{f}(\Vp_{\!P})}{\mathbf{f}(\mathbf{\Upomega}_{\!P})}
\newcommand{\epsilonParetoFrontParameters}{\hat{\mathbf{\Upomega}}^*_{\!P}}
\newcommand{\mathbf{f}(\hat{\Vp}^*_{\!P})}{\mathbf{f}(\hat{\mathbf{\Upomega}}^*_{\!P})}
\newcommand{\mathbf{f}(\hat{\Vp}_{\!P})}{\mathbf{f}(\hat{\mathbf{\Upomega}}_{\!P})}

Multi-objective optimization is an important subclass of multiple criteria decision making techniques involving more than one objective function to be optimized simultaneously. Since the conflict degree between the objectives makes it impossible  to find a feasible solution that simultaneously optimizes all the objective functions, there is a set of Pareto optimal solutions denoted as Pareto front at which none of the objectives can be improved without deteriorating at least one of the others. In general a MOP optimization problem is stated as follows:
\begin{equation}\label{eq:MOP}
	\begin{split}
		&\underset{\mathbf{w}}{\text{minimize}} \qquad \mathbf{f}(\mathbf{w}) = \left[\,f_1(\mathbf{w}),f_2(\mathbf{w}),\ldots, f_m(\mathbf{w})\,\right]^T,\\
		&  \text{subject to} \qquad \mathbf{w}\in S,
	\end{split}
\end{equation}

\noindent where the vector $\mathbf{w}=[\omega_1,\omega_2,\ldots,\omega_n]^T$ {is a $n$-parameter set included in the decision space} $S$, and $f_i(\mathbf{w}): \varmathbb{R}^n\rightarrow\varmathbb{R}$, $i=1,\ldots,m$, are the objectives to be minimized at the same time.

In recent years MOEAs have been widely accepted as useful tools for solving real world multi-objective problems. Within MOEAs several powerful stochastic search techniques that mimic Darwinian principles of natural selection are included. In this study we focus on the ev-MOGA algorithm proposed in \cite{herrero06ingles}, which combines the concept of Pareto optimality  and  $\epsilon$-dominance due to \cite{laumanns2002combining}, thus providing an approximated $\epsilon$-Pareto set.

\begin{definition}
Dominance: Let $\mathbf{w}^1,\,\mathbf{w}^2 \in \varmathbb{R}^n$ be two feasible solutions, an let $\mathbf{f}(\mathbf{w}^1),\,\mathbf{f}(\mathbf{w}^2) \in \varmathbb{R}^m$ be their image solutions in the objective space. Then, assuming that the objective functions have to be minimized, $\mathbf{w}^1$ is said to dominate $\mathbf{w}^2$, denoted as $\mathbf{f}({\mathbf{w}}^1)\prec\mathbf{f}({\mathbf{w}}^2)$, iff:
\begin{equation}\label{eq:dominance}
\begin{split}
	&\forall i \in  \{1,\ldots, m\} \, : \, f_i(\mathbf{w}^1) \leq f_i(\mathbf{w}^2)\\
	& \exists\, j \in \{1,\ldots, m\} \, : \, f_j(\mathbf{w}^1) < f_j(\mathbf{w}^2)
\end{split}
\end{equation}
\end{definition}

\begin{definition}
Pareto set or Pareto front: Let $\Omega \subseteq \varmathbb{R}^{n}$ be a set of vectors of feasible solutions with $\mathbf{f}(\Omega)$ as their image solutions. Then the Pareto set $\mathbf{f}(\Vp_{\!P})$ of $\mathbf{f}(\Omega)$ is defined as follows: $\mathbf{f}(\Vp_{\!P})$ contains all vectors $\mathbf{f}(\mathbf{w}^u) \in \mathbf{f}(\Omega)$ that are not dominated by any vector $\mathbf{f}(\mathbf{w}^v) \in \mathbf{f}(\Omega)$
, i.e.,
\begin{equation}
	\mathbf{f}(\Vp_{\!P}) := \left\{\,
		\mathbf{f}(\mathbf{w}^u) \in \mathbf{f}(\Omega) \;\;|\;\; \nexists\,\mathbf{f}(\mathbf{w}^v) \,:\,
		\mathbf{f}(\mathbf{w}^v) \prec \mathbf{f}(\mathbf{w}^u)
		\,\right\}
\end{equation}
\end{definition}

\begin{definition}
$\epsilon$--dominance: Let $\mathbf{w}^1,\,\mathbf{w}^2 \in \varmathbb{R}^n$ be two feasible solutions, an let $\mathbf{f}(\mathbf{w}^1),\,\mathbf{f}(\mathbf{w}^2) \in \varmathbb{R}_+^m$ be their image solutions in the objective space. Then $\mathbf{w}^1$ is said to $\epsilon$--dominate $\mathbf{w}^2$ for some
$\epsilon > 0$, denoted as $\mathbf{f}({\mathbf{w}}^1)\prec_\epsilon\mathbf{f}({\mathbf{w}}^2)$, iff:
\begin{equation}
	\forall\,i \in \{1,\ldots, m\} \,:\, (1+\epsilon)\cdot f_i(\mathbf{w}^1)\leq f_i(\mathbf{w}^2)
\end{equation}
\end{definition}

\begin{definition}
$\epsilon$--approximate Pareto set: Let $\Omega \subseteq \varmathbb{R}^{n}$ be a set of feasible solution vectors with $\mathbf{f}(\Omega)$ as their image solutions. Then, $\mathbf{f}(\hat{\Vp}^*_{\!P})$ is called a $\epsilon$--approximate Pareto set of $\mathbf{f}(\Omega)$ if any vector $\mathbf{f}(\mathbf{w}^u) \in \mathbf{f}(\Omega)$ is $\epsilon$--dominated by at least one vector $\mathbf{f}(\mathbf{w}^v) \in \mathbf{f}(\hat{\Vp}^*_{\!P})$
, i.e.,
\begin{equation}
	\forall\,\mathbf{f}(\mathbf{w}^u) \in \mathbf{f}(\Omega): \exists\,\mathbf{f}(\mathbf{w}^v) \in \mathbf{f}(\hat{\Vp}^*_{\!P})  \;\;|\;\; \mathbf{f}(\mathbf{w}^v) \prec_\epsilon \mathbf{f}(\mathbf{w}^u)
\end{equation}
\noindent The set of all $\epsilon$--approximate Pareto sets of $\mathbf{f}(\Omega)$ is denoted as the  $\epsilon$--Pareto front $\mathbf{f}(\hat{\Vp}_{\!P})$.
\end{definition}

The most outstanding feature of this algorithm is that the optimal solutions are distributed uniformly across the $\epsilon$-Pareto front. To this end, the $\epsilon$-Pareto front is split into a fixed number of boxes forming a grid, so that the algorithm ensures that just one solution is stored by one box. The size of the boxes is determined by the value of $\epsilon_i$, which is calculated as follows:
\begin{equation}
\epsilon_i=\frac{{f_i}^*- {f_{i}}_*}{n_{box}}
\end{equation}

\noindent where, $f_i^*$ and $f_{i*}$ correspond to the maximum and minimum value of the objective function $f_i$, and $n_{box}$ is the number of boxes. In addition, ev-MOGA is able to adjust the width of $\epsilon_i$ dynamically and prevent solutions belonging to the extremes of the front from being lost.

For solving the ev-MOGA, the main population $P(t)$ whose size is $Nind_p$ explores the searching space $S$ defined by the multi-objective problem during a number $k$ of iterations. In the archive population $A(t)$ the $\epsilon_i$-nondominated solutions are stored, so that there are as many feasible solutions as number of boxes. Then, at the end of the iteration process, $A(t)$ is an $\epsilon$-approximate Pareto set $\mathbf{f}(\hat{\Vp}^*_{\!P})$.
Furthermore, in the case that more than one  $\epsilon$-dominant solution is detected, thus the solution that prevails in $A(t)$ will be the one that is closest to the center of the box. Next, the new individuals obtained by crossover or mutation with probability of crossing/mutation $P_{c/m}$ are included in the auxiliary population $G\!A(t)$.

Before running the algorithm, the following parameters should be defined by the analyst:

\vspace*{-1ex}

\begin{itemize}\itemsep=0ex
\item $Nind_p=$ Size of the main population.
\item $Nind_{G\!A}=$ Size of the auxiliary population.
\item $k_{max}=$ Maximum algorithm iterations.
\item $P_{c/m}=$ Probability of crossing/mutation.
\item $n_{box}=$ Number of boxes.
\end{itemize}

The main advantage of ev-MOGA is that they generate good approximations of a well-distributed Pareto front in a single run and within limited computational time. The original ev-MOGA algorithm is avalaible at Matlab Central  \cite{ev_MOGA_Matlab_Central_2017}: \href{https://es.mathworks.com/matlabcentral/fileexchange/31080-ev-moga-multiobjective-evolutionary-algorithm}{ev-MOGA in Matlab Central}.

\subsection{The ev-MOGA tri-criterion portfolio selection}

In this study, beyond risk and return, we wish to consider an additional objective that minimizes the carbon risk exposure of a portfolio. Then, by introducing a third objective into the portfolio optimization model the efficient frontier becomes a surface in the three-dimensional space. The tri-criterion portfolio selection problem where the objectives are the risk of the portfolio, the returns, and the portfolio carbon risk exposure can be mathematically formulated as follows:
{\jot=1.25ex
\begin{align}
	\label{eq:tri_01} \min f_1 (\mathbf{w}) = & \sum_{i=1}^{N}\sum_{j=1}^{N}\omega_i\,\omega_j\,\sigma_{ij}\\
	\max f_2 (\mathbf{w}) = & \sum_{i=1}^{N}\omega_i\,\mu_i\\
	\label{eq:tri_03} \min f_3 (\mathbf{w}) = & \sum_{i=1}^{N}\omega_i\,c_i\\
	\label{eq:tri_04} \text{subject to} \quad & \sum_{i=1}^{N}\omega_i=1
\end{align}
}

\noindent where  $N$ denotes the available assets, $\mu_i$ is the expected return of asset $i$ ($i=1,2,\ldots,N$), $\sigma_{ij}$ is the covariance between asset $i$ and $j$. In addition $c_i$ is the carbon risk score and $\omega_i$ denotes the proportion of asset $i$ in the portfolio.

\makeatletter
\let\OldStatex\Statex
\renewcommand{\Statex}[1][3]{%
  \setlength\@tempdima{\algorithmicindent}%
  \OldStatex\hskip\dimexpr#1\@tempdima\relax}
\makeatother

\begin{algorithm}[ht!]
	\caption{Tri-criterion ev-MOGA algorithm based on \cite{herrero06ingles} }\label{alg:evMOGA}
	\begin{algorithmic}[1]\parskip=0ex
		\Statex
		\State Set $k=0$.
		\State Initialize  the population of candidate solutions $P_0$ and set $A_0=\emptyset$

		\State Conduct the multi-objective evaluation of portfolios from $P_0$ using Equations \eqref{eq:tri_01}--\eqref{eq:tri_04
		\State Detect the $\epsilon$-nondominated portfolios from $P_0$ and store in the archive $A_0$
		\While{$k\le k_{max}$}
			\State Generate the auxiliary population $G\!A_k$  from the main population $P_k$ and th
			{\parskip = 1ex
			\Statex[2] archive population $A_k$ following this procedure:}
			\For{$j \gets 1 ,Nind_{G\!A}/2$}
				\State Randomly select two portfolios $\mathbf{X}^{P}$ and $\mathbf{X}^{A}$ from $P_k$ and $A_k$, respectively
				\State Generate a random number $u \in [0,1]$
				\State  If $u>P_{c/m}$, $\mathbf{X}^{P}$ and $\mathbf{X}^{A}$ are crossed over by means of the extended linear recombination
				{\parskip = 1ex
				\Statex[3] technique, generating two new portfolios for $G\!A_k$}
				\State If $u\leq P_{c/m}$, $\mathbf{X}^{P}$ and $\mathbf{X}^{A}$ are mutated using random mutation with Gaussian distribution
				{\parskip = 1ex
				\Statex[3] and then included in $G\!A_k$}
			\EndFor

			\State Evaluate population $G\!A_k$ using  the tri-criterion multi-objective portfolio model defined by  \eqref{eq:tri_01}--\eqref{eq:tri_04}.

			\State Check which portfolios in $G\!A_k$ must be included in $A_{k+1}$ on the basis of their location
			{\parskip = 1ex
			\Statex[2] in the objective space. $A_{k+1}$ will contain all the portfolios from $A_k$ that are \Statex[2] not $\epsilon$-dominated by elements of $G\!A_k$, and all the portfolios from $G\!A_k$ which are
			\Statex[2] not $\epsilon$-dominated by elements of $A_k$}

			\State Update population $P_{k+1}$ with portfolios from $G\!A_k$. Every portfolio $\mathbf{X}^{G\!A}$ from $G\!A_k$ is compared
			{\parskip = 1ex
			\Statex[2] with a portfolio  $\mathbf{X}^P$ that is randomly selected from the portfolios in $P_k$.  $\mathbf{X}^{G\!A}$ will replace
			\Statex[2] $\mathbf{X}^P$ in $P_{k+1}$ if it dominates $\mathbf{X}^{P}$. Otherwise $\mathbf{X}^P$ will not be replaced}
			\State $k \leftarrow k +1$
		\EndWhile
		\Statex
	\end{algorithmic}
\end{algorithm}

\subsection{Defining a-posteriori preferences for each investor's profile}

With the previous multi-objective optimization design a vast region of the tri-objective whole Pareto front is generated. Even though it is true that the non-dominated surface allows us to better understand the trade-off between the three objectives, this solution doesn't provide a useful tool from the user's perspective. To come up with a single solution we assume that the decision maker is available to take part in the solution process. According to \cite{coello2000handling,branke2005integrating} the articulation of preferences may be done either before (a priori), during (progressive), or after (a posteriori) the optimization process. In what follows, we assume that once the investor has seen an overview of the Pareto optimal solutions, he/she takes part of the final solution. Thus, we propose an a-posteriori approach.

The analyst supporting a-posteriori methodology has to inform the decision maker either providing a list of solutions or providing a visualization of the Pareto front \cite{lotov2008visualizing}. In a tri-objective case, two main approaches have been used to visualize the Pareto frontier: (i) three-dimensional graph, and (ii) decision maps. However,  a new graphical visualization called Level Diagram is proposed in \cite{blasco2008new} to represent n-dimensional Pareto fronts. The Level Diagrams tool, also allows the incorporation of decision makers' preferences and it offers a good tool to help in the decision making process.

In our proposal, information on preferences is given by the investor, who is willing to achieve a desired aspiration level for each objective function. Let us denote the reference vector for the preferences about green investments defined by the carbon risk score objective function \eqref{eq:tri_03} as $P_{g}$ and the preferences for the loss aversion attitude defined by \eqref{eq:tri_01} as $P_{r}$.

Concerning the sustainability preferences, we consider three types of green investor profiles. They are defined as follows:

\begin{enumerate}

\item \textit{Weak green investor}. This profile is defined by a low level of aspiration for the carbon risk score $p_{g}^w$.
\item \textit{Moderate green investor}. This profile is defined by a medium level of aspiration for the carbon risk score $p_{g}^m$.
\item \textit{Strong green investor}. This profile is defined by a high level of aspiration for the carbon risk score $p_{g}^s$.

\end{enumerate}

Thus, the reference vector for the green investor could be stated as follows:
\begin{equation}\label{eq:ref_green}
P_{g}=\left[p_{g}^w,\,p_{g}^m,\,p_{g}^s\right]
\end{equation}

Concerning the investor's loss aversion attitude, we consider three types of investor profiles. They are defined as follows:

\begin{enumerate}

\item \textit{Conservative investor}. This profile is characterized by investing in lower-risk securities, namely, a high loss aversion attitude $p_{r}^c$.
\item \textit{Cautious investor}. This profile is defined by a medium risk tolerance, and consequently a moderate loss aversion attitude $p_{r}^k$.
\item \textit{Aggressive investor}. It includes investors that
actively seek stocks with higher risk—but a chance for higher reward, that is a low loss aversion attitude$p_{r}^a$.
\end{enumerate}

Thus, the reference vector regarding the risk aversion could be stated as follows:
\begin{equation}\label{eq:ref_risk}
P_{r}=\left[p_{r}^c,\,p_{r}^k,\,p_{r}^a\right]
\end{equation}

\begin{figure}[h]
\centering
\parbox[t]{0.475\textwidth}{\centering
	\includegraphics[width = 0.475\textwidth]{fig_LC_PF_scatter3}
	\captionof{figure}{$\epsilon$--Pareto front}
	\label{fig:PF}
}
\hfill
\parbox[t]{0.475\textwidth}{\centering
	\includegraphics[width = 0.475\textwidth]{fig_LC_PF_Moderate_Conservative}
	\captionof{figure}{$\epsilon$--Pareto front with inverstor's preferences}
	\label{fig:PF_prefs}
}
\end{figure}

\section{Empirical application}\label{s:sexperimetnal}

We use a set of monthly returns on 22 institutional SRI European open-end funds offered in Spain for the period 2009-2019. The empirical information includes the time series of 120 monthly returns and the carbon risk indices. As a previous step the expected return vector $\nu=(\nu_
1,\ldots,\nu_{22})^T$ and the covariance matrix $\Sigma=[\sigma_{ij}]$, ${i,j}=1,\ldots,22$ are computed. For the carbon risk score $c_i$, we use the Morningstar$^{®}$ Portfolio Carbon Risk Score, which indicates the risk that companies face from the transition to a low-carbon economy. In this set, scores $c_i$ range from 0 to 10, where lower scores are better, indicating lower carbon risk levels.  All the numerical information to be used on this opportunity set comes from Morningstar database.

\autoref{tab:parameter-setting} shows the parameter setting applied to the ev-MOGA algorithm. The size of the main population is $Nind_P=10^4$, while the population of the archive $A_k$ is  $Nind_{GA}=500$. For the probability of crossing/mutation we select $P_{m/c}=0.2$. Finally, the space of each objective function has been divided in 300 boxes.

\begin{table}[htbp]
  \centering
  \caption{Parameter setting of the ev-MOGA }
    \input{tabla_parameters}
  \label{tab:parameter-setting}%
\end{table}

With the aim of analysing the Pareto optimal portfolios retrieved by the ev-MOGA algorithm, we consider the following reference values for each investor profile according the sustainability preferences and the risk aversion.

\input{input_perfiles_Low_Carbon}

\begin{itemize}
\item Concerning the sustainability preferences, the green investors are classified in three profiles according to \eqref{eq:ref_green} by using the percentile 25 for the Weak green investor $p_g^w$, 55 for the Moderate green investor $p_g^m$ and 75 for the Strong green investor $p_g^s$. Thus, the reference vector for the green investor yields:
\begin{equation*}
	P_{g}=[25\%, 55\%, 75\%]=[2.803, 3.001, 3.136]
\end{equation*}

\item Considering the investor loss aversion attitude, the investors are classified in three profiles according to \eqref{eq:ref_risk} by establishing percentiles 50 for a Conservative investor $p_r^c$, 75 for a cautious investor $p_r^k$ and 100 for an Aggressive investor $p_r^a$. Thus, the reference vector regarding the risk aversion becomes:
\begin{equation*}
	P_{r}=[50\%, 75\%, 100\%]=[9.575, 10.097, 11.633]
\end{equation*}

\end{itemize}

From \autoref{tab:weak}, \autoref{tab:moderate} and \autoref{tab:strong}, a comparison of efficient portfolios for Weak, Moderate and Strong green investors is made in terms of different loss aversion attitude. To this end, for each profile we display a numerical description of the portfolio composition and the objective function values attained by the portfolios. We  highlight in bold optimal funds allocation when achieving the three objectives  simultaneously and we also provide the portfolio weights and the objective values for the strategy involving minimum risk,  minimum carbon risk score and maximum return.

\autoref{fig:weak}, \autoref{fig:moderate} and \autoref{fig:strong} show the 3D representation of the approximated $\epsilon$-Pareto front, thus providing the non-dominated mean-variance-emission surface for the three types of  Green investor profile and for each level of loss aversion. Notice that, as the level of loss aversion attitude decreases, the Green Investor non-dominated surface (coloured in blue) grows.

 The results for a Weak green investor profile are displayed in \autoref{tab:weak}. Let us see, for example, the case of an investor's  conservative attitude toward risk.  If the investor wants to  optimize the three objectives simultaneously, the optimal portfolio is given by $F_3$,  $F_{10}$, $F_{11}$, $F_{12}$, , $F_{14}$, $F_{16}$, and $F_{21}$. We can also view the 3D non-dominated surface in \autoref{fig:weak-conservative} in which the whole $\epsilon$-Pareto front is coloured in grey and the investor's region of interest is coloured in blue and green. While the optimum value of the three objectives lies at the centre of the figure, the corner solutions  indicate the optimum objective values involving minimum risk, minimum emissions risk and maximum return. These optimal values are marked by a red dot. Note that the region of interest increases as the investor's risk aversion decreases (see \autoref{fig:weak-cautious} and \autoref{fig:weak-aggressive}).

\newcommand{\smallskip}{\smallskip}
\newlength{\separaGrupTaula}\setlength{\separaGrupTaula}{2.5em}

\begin{table}[h!]
	\bigskip

	\caption{Weak green investor portfolio composition and objective value function

	}
	\label{tab:weak}
	\centering
	\smallskip
	\resizebox{\textwidth}{!}{%
	\begin{tabular}{
		*{1}{l} @{\hspace{\separaGrupTaula}}
		*{8}{r} @{\hspace{\separaGrupTaula}}
		c c c @{\hspace{\separaGrupTaula}}
		l}\toprule
		\input{tabla_Weak_green_investor}
	\end{tabular}
	}
\end{table}

\begin{figure}[h!]
	\centering
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Weak_Conservative}
		\caption{Conservative investor}
		\label{fig:weak-conservative}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Weak_Cautious}
		\caption{Cautious investor}
		\label{fig:weak-cautious}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Weak_Aggressive}
		\caption{Aggressive investor}
		\label{fig:weak-aggressive}
	\end{subfigure}
	\bigskip
	\caption{3D Pareto fronts for a Weak green investor profile ($p_g^w$): on the left, for the conservative profile ($p_r^c$); on the centrer for the cautious investor ($p_r^k$); and on the right the aggressive profile ($p_r^a$)}
	\label{fig:weak}
	\bigskip
\end{figure}

\begin{table}[h!]
	\bigskip

	\caption{Moderate green investor portfolio composition and objective value function

	}
	\label{tab:moderate}
	\centering
	\smallskip
	\resizebox{\textwidth}{!}{%
	\begin{tabular}{
		*{1}{l} @{\hspace{\separaGrupTaula}}
		*{8}{r} @{\hspace{\separaGrupTaula}}
		c c c @{\hspace{\separaGrupTaula}}
		l}\toprule
		\input{tabla_Moderate_green_investor}
	\end{tabular}
	}
\end{table}

\begin{figure}[h!]
	\centering
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Moderate_Conservative}
		\caption{Conservative investor}
		\label{fig:moderate-conservative}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Moderate_Cautious}
		\caption{Cautious investor}
		\label{fig:moderate-cautious}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Moderate_Aggressive}
		\caption{Aggressive investor}
		\label{fig:moderate-aggressive}
	\end{subfigure}
	\caption{3D Pareto fronts for a Moderate green investor profile. ($p_g^m$): on the left, for the Conservative profile ($p_r^c$); on the centrer for the Cautious investor ($p_r^k$); and on the right for the Aggressive profile ($p_r^a$)}
	\label{fig:moderate}
\end{figure}

In \autoref{tab:moderate} and \autoref{tab:strong}, the optimal portfolio and the values of the objective functions are shown for the corresponding investor profiles. As expected, the minimum region of interest correspond to an Strong green investor with a conservative attitude toward risk as shown in \autoref{fig:strong-conservative}.

\clearpage

\begin{table}[h!]
	\bigskip

	\caption{Strong green investor portfolio composition and objective value function

	}
	\label{tab:strong}
	\centering
	\smallskip
	\resizebox{\textwidth}{!}{%
	\begin{tabular}{
		*{1}{l} @{\hspace{\separaGrupTaula}}
		*{8}{r} @{\hspace{\separaGrupTaula}}
		c c c @{\hspace{\separaGrupTaula}}
		l}\toprule
		\input{tabla_Strong_green_investor}
	\end{tabular}
	}
\end{table}

\begin{figure}[h!]
	\centering
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Strong_Conservative}
		\caption{Conservative investor}
		\label{fig:strong-conservative}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Strong_Cautious}
		\caption{Cautious investor}
		\label{fig:strong-cautious}
	\end{subfigure}
	\hspace{0.02\textwidth}
	\begin{subfigure}{0.3\textwidth}
		\includegraphics[
			trim = 0cm -1cm 0cm 0cm, clip,
			width = \textwidth]{fig_LC_PF_Strong_Aggressive}
		\caption{Aggressive investor}
		\label{fig:strong-aggressive}
	\end{subfigure}
	\caption{3D Pareto fronts for a Strong Green Investor profile ($p_g^s$): on the left, for the conservative profile ($p_r^c$); on the centrer for the cautious investor ($p_r^k$); and on the right for the aggressive profile ($p_r^a$)}
	\label{fig:strong}
\end{figure}

\section{Conclusions}

In this paper, we have proposed a new application of the ev-MOGA algorithm to handle a tri-criterion portfolio optimization problem in which the third criterion is the carbon risk score of the portfolio. Moreover, we have incorporated the investor's preferences regarding the risk emissions and the loss aversion attitude into the solution process by defining different investor profiles. This allows us to propose a solution to the investor in terms of their sustainability and risk preferences.

Given the urgency around climate change, investors are becoming increasingly aware of the need to make the transition to a lower carbon economy and to address climate change  related risk. It is claimed that new methodological tools are needed to help investors to align themselves with the preservation of the planet without compromising returns and to more thoughtfully consider carbon risk in the investment decision making framework. In recent years, some rating agencies have introduced eco-labels for mutual funds which allow for the measurement of the risk that  companies face in the transition to a low carbon economy. We have reviewed the literature addressing the extended M-V portfolio optimization problem. While some scholars have developed exact methodologies to derive the non-dominated surface, in recent years there is an increase number of contributions applying heuristic methodologies such as Multi-objective Evolutionary Algorithms. Thus, we implement a tri-criterion portfolio optimization problem for returns, risk and emission risks by means of an heuristic methodology based on the concept of $\epsilon$- dominance called ev-MOGA. To the best of our knowledge this is the first time that this methodology is used to derive the non-dominated surface in three dimensions including mean, variance and carbon-related risks. The ev-MOGA allows us to obtain a 3D-Pareto front in a well-distributed manner with limited memory resources.

To better understand the trade-off between the three objectives we have introduced an a-posteriori approach to include the investors' preferences about green investments and risk aversion. So, by considering different investor profiles we can provide a more approximated solution to the investor according to their preferences. Because of the possibility to obtain an efficient frontier in three dimensions while including the preferences on risk and sustainability, we believe this is a useful tool for investors, especially for those who are willing to rebalance their portfolios towards more climate-conscious firms.

Finally, as the mutual fund industry is an ideal setting to test our approach, we have used a set of institutional SRI European open-end funds for illustrative purposes. In the numerical experiments we have analyzed the portfolio generated according to the investor profiles. The results obtained show that the region of interest increases as the investor's risk aversion decreases, namely, aggressive investors looking for high returns are allowed to invest in funds with a lower level of carbon risk scores. Thus, we conclude that green investors have a leeway to decrease the emission risk of the portfolio at even no cost to risk and returns.

\bibliographystyle{abbrv}

redpajama_set_name: RedPajamaArXiv


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Parents and carers are welcome to visit their child on Ward 3A at any time. Relatives and friends may also visit with parent/carer permission, however visitors are limited to a maximum of two at a time.
PCH's PCC is a centre for teaching and research in paediatric intensive care medicine and provides emergency outreach services including the Emergency Resuscitation team and the Medical Emergency Team. PCC staff are also an integral part of the hospital's trauma team.
The PICU provides care for critically ill and injured infants, children and adolescents, and those undergoing major surgery.
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Paediatric Critical Care is on Ward 3A on Level 3 (take the Green Lifts).


Washington (October 1, 2018) – Ninety percent of Americans say that chocolate and candy make holidays like Halloween more fun, according to a recent National Confectioners Association survey. The survey also shows that more than 80 percent of parents monitor candy consumption or offer guidelines for their children in the days and weeks after Halloween. With parents in mind, NCA has launched a brand-new digital resource to give them the tools they need to help reinforce the unique role that chocolate and candy can play at Halloween in particular. For consumers seeking to manage their sugar intake as they enjoy their favorite treats, AlwaysATreat.com/HalloweenCentral is loaded with resources focused on balance and mindful treating.
Halloween Central is the one-stop digital hub dedicated to providing consumers with important information and support during the Halloween season. Though there are resources for everyone, there is a special focus on helping parents navigate this fall tradition. NCA's survey shows that nearly 90 percent of parents will use the Halloween season as an opportunity to talk to their children about the unique role that chocolate and candy can play in a happy, balanced lifestyle.
More than 90 percent of Americans agree that it is okay to enjoy Halloween candy as part of a balanced lifestyle, according to NCA's survey. To help people keep this balance in mind seasonally and throughout the year, America's leading chocolate and candy companies are working alongside the Partnership for a Healthier America to provide consumers with more information, options and support as they enjoy their favorite treats.
For more information about chocolate and candy during the Halloween season, including safety tips and fun facts about Halloween, please visit www.AlwaysATreat.com/HalloweenCentral.


text:
From Site Selection magazine, March 2015
Bridges To the World
Florida is nothing if not globally connected. It's about to get more so.
Tampa Bay Lightning owner Jeff Vinik (pictured) in December announced his $1-billion vision for revitalizing the Channelside waterfront district in Tampa Bay.
Photo by Aimee Blodgett/USF
eff Vinik, the owner of the National Hockey League's Tampa Bay Lightning, has a vision for his team and for his city, and isn't afraid to spend money to achieve it.
In December, he revealed his plans to redevelop Tampa's waterfront Channelside district, including locating the USF Health Morsani College of Medicine and USF Health Heart Institute on land he has offered to donate. The plan will cost $1 billion to realize over the next five to 10 years, with $30 million coming from city reimbursements for sidewalk, telecom and other infrastructure necessities.
Moving Both Ways
In February Volkswagen Group of America (VWGoA) announced that the Port of Jacksonville, Fla. (JAXPORT) will be VWGoA's Southeastern US port. New VW, Audi and Bentley vehicles will be imported and distributed through the port beginning on May 1. VWGoA plans on transporting 100,000 cars within one year, and approximately 550,000 units in the next five years, through JAXPORT.
Until now, explains VWGoa spokesperson Carsten Krebs, the VW subsidiary has moved cars through the Georgia Ports Authority's Port of Brunswick, as well as using the Port of Davisville in Rhode Island, the Port of Houston and the Port of San Diego, while also using the increasingly car-congested Veracruz in Mexico and the Port of Halifax, N.S., in Canada, and steering its Lamborghinis toward the Port of Baltimore. VW will still maintain some ro-ro business in Brunswick, including Porsches.
Driving the redevelopment is walkability, via a ribbon of mixed-use space encompassing five types of space: a medical education and STEM (science, technology, engineering and math) district, office, residential, hospitality, and retail and entertainment.
Tampa and other Florida cities appear to need that walkability. According to a June 2014 report ranking walkable urbanism in the 30 largest US cities from Washington, D.C.-based LOCUS, a program of Smart Growth America, Tampa ranked 28th, with only six walkable places. Miami was No. 23. Orlando was dead last at No. 30, but the report noted that it was among those cities showing the most promise for improved walkability, and could jump to as high as No. 18 in the near future.
Vinik and USF officials are ready for Tampa's future to be now.
"The project not only elevates USF Health to new heights as an academic and medical research center, but it advances one of the most important missions we have — to create a healthier and more sustainable community," said USF President Judy Genshaft as she pledged to champion the plan before the Florida Board of Governors, Gov. Scott and the Florida Legislature. "This downtown location is spectacular in that it opens the doors for USF Health to recruit and retain more world-class researchers and top students, who will want to be part of this exciting downtown atmosphere."
In a statement in late January after his board approved a resolution supporting the plan, Tampa Bay Partnership Chair and President and CEO of Fifth Third Bank (North Florida) Brian Lamb said, "This opportunity will create 2,100 direct and nearly 4,000 indirect jobs and will eventually lead to an $800-million economic impact that will positively influence the eight-county region for years to come."
FLORIDA: Mind Games (Jan 14, 2019)
HOW THE DETROIT TIGERS HIT A GRAND SLAM IN LOYALTY: What do baseball, Michigan and a second-tier city in Florida have in common? (Sep 26, 2018)
MIXED-USE DEVELOPMENT: Take Me Out to the Mixed-Use Development (Aug 30, 2018)
ORLANDO UTILITIES COMMISSION: A Place to Excel (Jul 19, 2018)
FLORIDA: The Florida Less Traveled (May 14, 2018)

redpajama_set_name: RedPajamaCommonCrawl


text:
Minneapolis Running has Retired
After six glorious years, Minneapolis Running has been retired. Between a cross-country move and four young kids, our priorities have shifted to new opportunities and new projects. We want to thank the readers, contributors, and sponsors for all the support along the way. Keep running and remember, you're probably faster than you think you are!
How to Become an Urban Adventure Racer
Nathan Freeburg July 26, 2013 Adventure Racing, Twin Cities in Motion
If you're bored of road racing, there are plenty of alternatives. If you're into getting covered in mud or electrocuted, perhaps Tough Mudder, or Dirty Girl is for you. If you'd rather try flexing your intellectual muscles while you run through charming city neighborhoods, perhaps an Urban Adventure race is just the thing.
Minneapolis has already hosted the Great Urban Race in June, and is set to host four more in the coming months. The basic premise is to hunt down a bunch of clues and be the first one back to home base. On August 10th, The North Loop is getting a home grown urban adventure race of our own – the TC Urban Dash.
Urban Racing in the North Loop
The North Loop is hot! According to Downtown Resource Group "The North Loop has seen more development than any other part of Minneapolis in the past decade." What was once home to a bustling commercial and industrial area, now sees quaint restaurants, chic boutiques, dive bars, condos and almost a Whole Foods.
The neighborhood is gearing up to host the first ever North Loop Fest. This event is "celebrating the residents, businesses & lifestyle of the North Loop!" A perfect backdrop to debut the TC Urban Dash.
What is the TC Urban Dash?
Your first step in becoming an urban adventure racer is to sign up for the Twin Cities in Motion, TC Urban Dash. This race will add something unique to TCM's race catalogue. "The TC Urban Dash balances physical activity with a mental component where you must decipher puzzles, find hidden checkpoints, sprint on urban trails, and complete a cluesheet to make it to the end."
In teams of two or four, you'll traverse the North Loop, finding clues that will lead you to "hotspots". At each location, you'll collect points that contribute to your total. The race distance is estimated at 4 – 6 miles.
TCM's Executive Director, Virginia Brophy Achman said,
Runners are eager for new ways to compete at the sport they love, and an urban adventure like the TC Urban Dash gives them a new, fun, and social way to be active in Minneapolis.
All participants receive NEOPOP FITSOKs, GU energy gel, a Soleus Dash running watch, entry into the North Loop Fest, a free beer at the Post Race Party. The winning teams get guaranteed entry into the Medtronic TC 10 Mile.
You don't necessarily have to be the fastest team to win. You just need to be the smartest. Here are a few tips to give you an advantage.
Familiarize yourself with the area. The North Loop is bordered by Hennepin Ave on the southeast, Plymouth Ave in the north, the 4th street freeway entrance/exit in the southwest, and the Mississippi River in the northeast. Spend some time running up and down the streets to get a feel for the area.
Pay attention to landmarks. The North Loop is a cornucopia of brand new apartments buildings, 100+ year old warehouses, parking lots, the Federal reserve and a mix of other wacky stuff.
Use Technology. It's unclear if you'll be allowed to use smartphones. If not, get some google map images of the area and study them.
Know Your History. Most likely, the clues will be some form of trivia and visual identification. Spend some time surfing whatever sites you can find that has information about the history of the North Loop.
Register for the TC Urban Dash today!
Are you planning to run the TC Urban Dash? What tips do you have to share?
Nathan started running when he was 14. 20+ years later, he's still going. When he's not running, he enjoys exploring the city with his son, finding new restaurants with his wife, traveling, or backpacking. He loves dark beer, dark chocolate, and dark coffee.Nathan currently lives in Portland, Oregon, but works in Minneapolis and runs wherever he is. Favorite Minnesota running route is anything that takes him along the Mississippi River. Race Results.Nathan's day job is a Consultant with Leadership Vision in Downtown Minneapolis.
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10 Easy Ways to Eat More Spinach	5 Tips to Help you Get Hydrated
Race/
Whether you've accomplished your big audacious goals, are learning to embrace failures, or are mapping out big plans for 2019, a fun December race is a great way to reset after a long season of training and racing.
Race into the Holidays at the Xperience Fitness Reindeer Run
'Tis the season for chilly temperatures, festive fun, and a holiday challenge for the entire family! This year, carry your fitness through the holiday season at the Xperience Fitness Reindeer Run Minneapolis on December 8th. There's a distance for everyone and enough holiday cheer to last all season long.
5 Reasons to Run the Turkey Trot St. Paul
October is coming to a close and it's time to start thinking about the holiday season. Is there a better way to spend Thanksgiving morning than at a Turkey Trot? We think not! Whether you're a seasoned marathoner or a running newbie, you're going to love the Turkey Trot St. Paul. Here are 5 reasons to run in 2018.


text:
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Iphigenia at Aulis
Jump to: Artistic Staff | Cast | Resources | Media
by Euripides, translated by Don Taylor
Department of Theatre & Drama
April 2-12, 2015 • Arthur Miller Theatre
The Story: Prepared to exact revenge on Troy for the abduction of Helen, the Greek army is stuck at the port of Aulis, stymied by unfavorable winds. As his men grow restless, their commander Agamemnon grows desperate to retain his command. Persuaded by his priests that the only way to set sail is through familial sacrifice, Agamemnon sends for his wife Clytemnestra and daughter Iphigenia under the pretext of a royal wedding to the hero Achilles. When the truth reveals itself, the two women and Achilles plead for young Iphigenia's life against the swell of a growing mob.
Background: Euripides (480 BC – 406 BC) is the author of over 100 plays, 19 of which survive. Iphigenia at Aulis is the last extant work by the Greek playwright. One of the great anti-war plays, Iphigenia exemplifies how the momentum of war can propel individuals and a nation toward the unspeakable. In 1989, the late English playwright Don Taylor, a key figure in the golden age of television drama, translated, directed, and produced Iphigenia for the BBC, starring Fiona Shaw. Staying true to the original, Taylor's translation resonates with parallels to the horrors of war that Euripides decried over two thousand years ago.
Director: Malcolm Tulip
Scenic Designer: Angela Alvarez
Costume Designer: Kayleigh Laymon
Lighting Designer: Rob Murphy
Sound Designers: Evan Klee-Peregon
Diction Coach: Henry Reynolds
Assistant Director: Annette Masson
Dramaturgs: Clarisza Runtung, Christian Axelgard, Megan Wilson
Stage Manager: Sherry Green
Agamemnon, Commander in Chief of the Greek Army: Ian Johnston
"Old" Man, servant of Agamemnon: Keem Avraham
Menelaus, brother of Agamemnon and husband of Helen: Jordan Rich
Achilles: Peter Donahue
Clytemnestra, wife of Agamemnon: Blair Prince
Iphigenia, daughter of Agamemnon: Anastasia Zavitsanos
Messenger/Soldier: Samuel Kassover
Soldiers: Kevin Corbett, Jeffrey Fox, David Newman
Chorus: Zoey Bond, Michaela Burton, Lila Hood, Sara Frost, Jackie Murray, Liz Raynes, Madeline Rouverol, Emily Shimskey, Molly Wear
[accordion title="About the Play"]
Euripides was known for bending convention and testing the limits of the tragic genre. He embraced musical innovations scorned by more traditional thinkers. His plays are not always straightforwardly tragic, a few even have happy endings, although it is worth noting that ancient definitions of tragedy differ from the modern sense of the word. In antiquity, a drama with a happy ending could still be a tragedy. Some of his linguistic patterns show influence from comedy, and his plays show interest in alternate re-tellings of myth, philosophical and scientific thinking, marginalized voices, and the physicality of architecture and craftsmanship. Euripides has remained the most popular Ancient Greek playwright for centuries.
Iphigenia at Aulis was first performed in 405 B.C.E., the year after Euripides' death. The play was produced in a trilogy that also included The Bacchae and was presented by Euripides' son or nephew. The trilogy won first prize at the City Dionysia at Athens.
Prominent in Iphigenia are the intertwined themes of marriage, death, and fate: by allowing herself to be sacrificed, Iphigenia undergoes a pseudo-marriage ritual that turns out to be her funeral. The exchange of the maiden Iphigenia's life for the adulteress Helen is a point of contention, especially for Clytemnestra, Iphigenia's mother. Several characters justify their actions as ordained by the gods; the potency of fate is viewed differently by various characters. Even Iphigenia herself in this version of the story wrestles with the acceptance, or not, of her fate.
The famous wedding of Peleus and Thetis, the Judgment of Paris, and the rape of Helen have taken place prior to the action in Iphigenia at Aulis, and are alluded to in the play. After Helen is taken to Troy, her husband Menelaus calls upon his allies, especially his brother Agamemnon, to wage war and win her back. Menelaus has come from Sparta and Agamemnon from Argos to the port of Aulis where the Greek soldiers have gathered to head to Troy. Included in their number are many famous heroes and former suitors of Helen who swore oaths to protect Menelaus.
At the end of Iphigenia at Aulis, the Old Man re-enters to tell Clytemnestra that her child was saved by the goddess Artemis at the last moment. He states that her body was replaced by a deer on the altar while the real Iphigenia was taken to become a priestess of Artemis. This version of Iphigenia's story is also referenced in an early Greek epic poem called the Cypria. The poem may have inspired Iphigenia among the Taurians, another play by Euripides whose narrative begins with the adult Orestes searching for his long-lost sister at the desolate sanctuary of Artemis at Tauris (modern Crimea). In Iphigenia at Aulis, however, the salvation of Iphigenia was probably not part of the original performance. Rather, most scholars believe that the "messenger ending" is an interpolation by a later editor written in order to make the two Iphigenia plays more consistent. The original ending of the play is lost and exactly what it contained is unknown.
— Christian Axelgard & Megan Wilson, dramaturgs
[/accordion][accordion title="The Mythological Characters"]
Clytemnestra, the daughter of Tyndareus and Leda, is the half-sister of Helen. She is married to Agamemnon with whom she bears Iphigenia and Orestes. After the events of Iphigenia at Aulis, she returns to Argos while Agamemnon continues on to Troy to continue the campaign. Upon Agamemnon's return home, Clytemnestra kills him in revenge for his sacrifice of Iphigenia. Years later, their son Orestes will avenge his father, killing Clytemnestra and Aegisthus at the behest of Apollo. As she dies, Clytemnestra invokes the Furies to plague Orestes until he can finally resolve the cycle of bloodshed.
Agamemnon will survive as the commander of the victorious, ten-year Greek campaign against Troy, albeit with the blood of countless Greeks and Trojans on his hands. He returns home with a Trojan princess, Cassandra, as his prize. Both are slain at the hands of Clytemnestra and her new lover, Agamemnon's cousin Aegisthus.
Menelaus is the brother of Agamemnon and the husband of Helen. After the Trojan War, Menelaus and his fleet are made to wander around, including into Egypt, for having forgotten to sacrifice to the gods before his departure from Troy. He eventually returns home wealthy from possessions gathered on the way.
Iphigenia is the eldest child of Agamemnon and Clytemnestra. At the time of the play's events, she has just reached marriageable age, probably around 14 years old for an upper-class, ancient Greek young woman. Because upper-class marriages were usually arranged by parents for strategic purposes, it is plausible that Iphigenia's father could have betrothed her to the warrior Achilles. It is less plausible, even in antiquity, that a father would ever be willing to sacrifice his child. However, Agamemnon is depicted in Iphigenia at Aulis as acting under compulsion: between the forceful will of the army and that of the gods, he believes he has no choice.
Achilles, who was not a suitor of Helen, is a ferocious and much feared warrior at Troy. He will die before Troy falls and is buried with great honors.
Orestes is the youngest child of Agamemnon and Clytemnestra. He avenges Agamemnon by murdering his mother and Aegisthus. Hounded afterwards by the Furies, he seeks help from Apollo at Delphi and Athena at Athens to assuage his guilt. In some myths he must also go to his uncle Menelaus at Sparta or to Tauris on the Black Sea in order to rescue his sister Iphigenia, a priestess of Artemis.
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text:
"In essentials, unity. In non-essentials, charity. In all things, Jesus Christ."
1. The Evangelical Free Church of America is a believers' church—membership consists of those who have a personal faith in Jesus Christ.
The great heritage of EFCA people around the world includes the fact that fellowship and ministry opportunities in the local church are based solely on one's personal faith in Jesus Christ as Savior and Lord and trusting in Him alone for salvation. Membership requires commitment to sound doctrine as expressed in our Statement of Faith. However, a person is not excluded from membership because he or she does not agree on every fine point of doctrine. Within the EFCA, there is allowance for legitimate differences of understanding in some areas of doctrine.
2. The Evangelical Free Church of America is evangelical—we are committed to the inerrancy and authority of the Bible and the essentials of the gospel.
The EFCA was born out of a heritage of commitment to the authority and inerrancy of Scripture. We have deep convictions based on the authority of God's Word, but we do not draw battle lines over minor points. Nor do we make minor issues of doctrine a test of fellowship in the local church. We are evangelical. We believe in separated living and personal holiness, but we are not separatists.
3. The Evangelical Free Church of America embraces a humble orthodoxy in partnership with others of like faith.
We believe in the spiritual unity of the Church though not necessarily in structural union. We join with other Christians and other denominations of like, precious faith in common goals and ministries to accomplish the Great Commandment and the Great Commission. But we believe that there is strength in diversity and that it is important to preserve our distinctives. We recognize that union in structure does not guarantee unity of spirit. Our foremost concern is unity of spirit with our Lord, with each other and with other Christians.
4. The Evangelical Free Church of America believes in Christian freedom with responsibility and accountability.
We believe in Christian liberty, but freedom always has its limitations. Responsible Christians do not abuse freedom. The apostle Paul wrote forcefully about Christian liberty in the Book of Galatians. He shattered the legalists with the doctrine of grace. But in First and Second Corinthians and Romans, the apostle also rebuked believers when liberty was abused. He declared boldly the principles of Christian liberty, but spoke with equal forcefulness about Christian accountability. The EFCA desires to preserve our freedom in Christ. We encourage our people to be responsible, godly men, women and young people who desire to live under the control of the Holy Spirit in obedience to the principles and precepts of God's Word, and in harmony with God's will for life as revealed in the Scriptures.
5. The Evangelical Free Church of America believes in both the rational and relational, i.e. the head and the heart, dimensions of Christianity.
We believe the Scriptures must be applied to our individual lives with warmth of heart, warmth of message and warmth of concern. We believe it is essential to have solid, biblical content in our doctrinal understanding of faith, but it is equally important to have a dynamic, vital relationship with God the Father through Jesus Christ the Son and to live by the power of the Holy Spirit. Sound Christian doctrine must be coupled with dynamic Christian experience. Ours is a ministry of love and spiritual reconciliation.
6. The Evangelical Free Church of America affirms the right of each local church to govern its own affairs with a spirit of interdependency with other churches.
The EFCA is committed to a congregational form of government as stated in our Articles of Incorporation: "The Evangelical Free Church of America shall be an association and fellowship of autonomous but interdependent congregations of like faith and congregational government…" Strong pastoral leadership coupled with discerning and well-equipped Christian lay people can produce spiritual growth as well as significant church growth. While the EFCA affirms the right of each local church to govern its own affairs, we also believe in the biblical values of interdependence and cooperation.
We are a movement of churches committed to working with one another in order to fulfill the Great Commission in the United States and abroad. This is only possible when there are strong ties with other EFCA churches, with local district organizations and with the national EFCA ministries.
A DISTRICT OF THE EFCA


text:
Flavour Warehouse Acquires Vapouriz
"The acquisition of Vapouriz represents a further key milestone in the success story that is Flavour Warehouse.
The acquisition places Flavour Warehouse as the largest independent vape company, and on track to achieve its ambitious growth targets. Vapouriz as well as widening will their product and service offering will enhance both retail and Ecommerce channels as well as their manufacturing capability of the Group".
"We are excited at the prospects of the Group, and encouraged to see a key local business going from strength to strength".
Kevin Steven, Director, Pierce Corporate Finance
Pierce Corporate Finance has provided Buy Side Advisory to one of the UK's leading e-liquid manufacturers Flavour Warehouse in its acquisition of Guildford based Vapouriz for an undisclosed sum.
Flavour Warehouse, The Darwen based e-liquid manufacturer is a genuine local success story. Established in 2012, Flavour Warehouse now operates in over 80 countries worldwide via a network of franchises, distributors and resellers. Built on the success of its award-winning brand, Vampire Vape, the group is now also a leading OEM manufacturer and UK distributor of vaping hardware.
Vapouriz is a material UK player in the vape sector, with a strong retail presence via its 7 flagship stores and various franchises and strong eCommerce platform through vapestore.co.uk. In addition, Vapouriz has a high-tech facility, manufacturing its own liquids as well as third party brands.
The acquisition of Vapouriz is the third large-scale acquisition by the group in the last 18 months, following Total Vapour and Premier Vaping in 2019 and 2020 respectively. Following the completion of the acquisition, Vapouriz will continue to build on its success, taking advantage of the wider Flavour Warehouse Group operating model and synergy opportunities, cementing its market leading position.
"There's a lot of synergies between the two companies. They're an established manufacturer, wholesaler, and multi-channel retailer, with an excellent range of own label e-liquids and hardware, similar to our ourselves."
"The acquisition of Vapouriz was the next logical step in delivering on our growth objectives, as we continue to identify opportunities to strengthen the groups position as the market leader both in the UK and internationally".
Kanesh Khilosia, Director, Flavour Warehouse Ltd


Shifting from the regular and the most convenient square shape, people have started making the indoor and outdoor swimming more interesting and visually appealing with interesting shapes like feet, guitar which also has variable depths across the length and breadth.
The infinity concept in the pool design is evergreen, however the knife edge gives the never ending effect more distinctively by creating a reflective mirror effect in the edges. The mirror image of water at the edges gives a feel of water flowing in all the directions of the pool.
Whether a resort or your own backyard pool, some extravagant designer tiling for the pool will give the extra edge. The invigorating dip with your partner can be more romantic and worthwhile in the pool. A iridescent glass tiling glows in the water.
The toddlers and children can learn the tricks of swimming and enjoy splashing water with a special pool space specially designed for them. The pool size can depend on the space available and can have minimum depth as can guarantee safety of the children.
The lights definitely make the pool look beautiful, colorful and also peaceful during the night time. The colour changing LED lights can make the traditional pool design stand out. Proper lighting can allow a good pool party organisation right till the wee hours of morning.
Tanning ledges are perfect for the kids wherein these are submerged in the shallow waters partly giving the desired fun and pleasure to the kids. The adults can enjoy on the lounge chair for the perfect sun tanning effect and also rest after a good dip time.
When thinking of your own pool in the backyard, one can give a resort like feel by having the walls and waterfalls constructed during the designing phase itself. The beach entry as also addition of rocks can give an even augment the beauty to a higher scale.
Landscaping is without a doubt an absolute delight. One can have wooden flooring which have a double benefit of scenic look and also warm feel. However, one can also try a natural designing with the help of granite rocks to give a forest feel. The special oasis can also be more special when situated near the lawns.
The indoor pools can be fun in case it is full length. Here, adequate attention needs to be paid on the ceiling which needs to properly fitted with neon lights. as much as one focuses on the tiling and seating. The exquisite pools take care of the de-humidification requirements to maintain air quality.
The idea of having a hot tub rocks is trending especially in terms of utility and also as it easily culminates into the pool itself. This can help complete the pool and also convert it into a small spa space giving a combo benefit.


Several times, i thought what if computer were invented today, what would they looks like? I think powerful enough to do any task. Like smartphones, you can carry them anywhere and can use them at any time whenever you want. So what is iPad then? Well it's a device which you can carry everywhere and it's easy to use and also do the same work as computer or laptops. So, my today's article is all about apple ipad 2018 specs.
As we know, the Apple iPad 2018 Wi-fi was recently launched in March 2018. It comes with a 9.70 inch touch-screen display with a picture resolution of 2048 pixels by 1536 pixels. Now, the price of this iPad in India starts from Rs 27,990.
So we talk about its processor then, the Apple iPad 2018 Wifi is run by 2.34 Dual core processor, and it comes with 32 GB of internal storage with inbuilt 2 GB RAM. As we noticed cameras mostly, So the Apple iPad 2018 Wifi has a 8-megapixel primary camera on the back and a 1.2-megapixel secondary camera on the front for selfies.
The Apple iPad 2018 wifi runs ios 11 and is battery-powered by a 3300mAh non removable battery. It measurement are 156.10 x 75.00 x 7.30 mm (height x breadth x thickness) and weighs 469.00 grams (light weight).
Connectivity choices embraces GPS, Wi-Fi, USB OTG, Bluetooth, FM, 3G and 4G (with support for Band 40 used by some LTE networks in India). Sensors on the phone involves Compass/ Magnetometer, Accelerometer, Fingerprint sensor, Proximity sensor, Ambient light sensor and Gyroscope.


I have a couple of Win98s on the LAN. Unfortunately, they are not in locked offices so when the user is not at the desk, anyone can plop down and access the internet. Is there a way to prevent someone who does not have access to the domain, from surfing on the internet?
If u have a domain then on the server you can give access rights for internet explorer.
Make a group and add those users to it whom you want to give the internet access.
give the internet explorer access to this group and deny others the access.
Yes, this might work but involves too much work with existing users and new users. Thanks anyway.
I think I'll opt for a more low-tech approach to this issue since only one of the 98's is accessible to passerbys. I hate to have to add a special security group to everyone else's profile. I think I'll have the user simply disconnect his network cable when he leaves for the day ... most people won't bother to check. Thanks anyway .. I can probably use your solution for other issue.


text:
From SourceWatch
Sports Drinks are a segment of drinks marketed to athletes to replenish fluids and electrolytes after strenuous exercise. Gatorade (sold by PepsiCo) and Powerade (sold by Coca-Cola) are two such products. Sports drinks are sometimes discussed together with energy drinks such as Red Bull.
"Marketing strategies for sports drinks suggest optimization of athletic performance and replacement of fluid and electrolytes lost in sweat during and after exercise, and marketing strategies for energy drinks purport a boost in energy, decreased fatigue, enhanced concentration, and mental alertness. Sports drinks are different products than energy drinks; therefore, the terms should not be used interchangeably. Sports drinks are flavored beverages that often contain carbohydrates, minerals, electrolytes (eg, sodium, potassium, calcium, magnesium), and sometimes vitamins or other nutrients. Although the term "energy" can be perceived to imply calories, energy drinks typically contain stimulants, such as caffeine and guarana, with varying amounts of carbohydrate, protein, amino acids, vitamins, sodium, and other minerals."[1]
A 2014 study found that 14.1% of calories consumed by Americans over age 6 came from added sugars and that "soda and energy and sports drinks were the largest food group sources of added sugars (34.4%)."[2]
1 Consumption Trends
2 Corporate PR
3 Resources and Articles
3.1 Related SourceWatch Articles
3.3 External Resources
3.4 External Articles
Consumption Trends
"Traditionally, bodybuilders and athletes were the only consumers for sports nutrition products. In recent years, new user groups (recreational and lifestyle users) have increased their market share. The market is also witnessing a shift from major markets (North America) towards developing markets in Europe and Asia Pacific."[3]
Between 1989 and 2008, consumption of sports drinks among school-aged children (ages 6-11) increased from 2 percent to 12 percent.[4]
For the year ending April 20, 2014, U.S. sales of sports drinks totaled more than $5.5 billion. This represented less than 2 percent growth over sales from the previous year. Together, Coca-Cola and PepsiCo account for 99 percent of market share, with Pepsi's Gatorade and Propel brands making up 77.7 percent of the market and Coca-Cola's Powerade making up 21.3%. The industry believes the stagnant growth is because consumers are increasingly turning to nutritional drinks like protein drinks and meal replacement drinks instead of sports drinks.[5]
A study sponsored by Coca-Cola compared sports drinks to water in their abilities to hydrate and nourish athletes and found that "Drinking plain water can improve performance in endurance exercise, but there are further performance improvements when carbohydrate and electrolytes are added" and "The current generation of commercially available sports drinks are generally a good compromised formulation to meet the needs of many athletes in many different situations."[6] Another study, funded by the industry front group the International Life Sciences Institute, noted that although "During high-intensity 1-hour exercise duration, research has shown that fluid intake is not important for maximization of endurance performance," they recommend that athletes "mouth-rinse" with sports drinks.[7] Likewise, in Japan, Asahi Soft Drinks Company supplied the sports drinks used in a study that was co-authored by an Asahi employee.[8] The study found that "hypotonic sports drinks are appealing for athletes to drink during exercise, and may help to offset fluid losses and attenuate some inflammatory responses to exercise."
Comparatively, another 2014 study found that "Ingestion of a 6% CHO-electrolyte beverage [sports drink] before and during soccer match play did not benefit blood glucose concentrations throughout the second half of exercise."[9] Pediatrics published findings that "Pediatric athletes can benefit from using sports drinks that contain carbohydrates, protein, or electrolytes; however, for the average child engaged in routine physical activity, the use of sports drinks in place of water on the sports field or in the school lunchroom is generally unnecessary... Excessive regular consumption of carbohydrate-containing beverages increases overall daily caloric intake without significant additional nutritional value. Therefore, frequent consumption adversely affects the appropriate balance of carbohydrate, fat, and protein intakes needed for optimal growth, development, body composition, and health."[10]
Resources and Articles
Related SourceWatch Articles
↑ Committee on Nutrition and the Council on Sports Medicine and Fitness, "Sports Drinks and Energy Drinks for Children and Adolescents: Are They Appropriate?" Pediatrics, May 29, 2011.
↑ Drewnowski A, Rehm CD, "Consumption of added sugars among US children and adults by food purchase location and food source," Am J Clin Nutr. 2014 Jul 16.
↑ "Sports Nutrition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," PR Newswire US. May 6, 2014.
↑ Lasater G, Piernas C, Popkin BM, "Beverage patterns and trends among school-aged children in the US, 1989-2008," Nutr J. 2011 Oct 2;10:103. doi: 10.1186/1475-2891-10-103.
↑ "Sports drinks work to maintain market share," Beverage Industry, July 1, 2014, Vol. 105 Issue 7, pSOI-6-SOI-7.
↑ Shirreffs SM, "Hydration in sport and exercise: water, sports drinks and other drinks," Nutrition Bulletin (NUTR BULL), 2009 Dec; 34 (4): 374-9.
↑ Goulet, Eric DB, "Dehydration and endurance performance in competitive athletes," Nutrition Reviews (NUTR REV), 2012 Nov; 70: Supplement: S132-6.
↑ Suzuki K1, Hashimoto H, Oh T, Ishijima T, Mitsuda H, Peake JM, Sakamoto S, Muraoka I, Higuchi M, "The effects of sports drink osmolality on fluid intake and immunoendocrine responses to cycling in hot conditions," J Nutr Sci Vitaminol (Tokyo). 2013;59(3):206-12.
↑ Russell M, Benton D, Kingsley M, "Carbohydrate Ingestion Before and During Soccer Match Play and Blood Glucose and Lactate Concentrations," J Athl Train. 2014 Jun 16.
Drewnowski A, Rehm CD, "Consumption of added sugars among US children and adults by food purchase location and food source," Am J Clin Nutr. 2014 Jul 16.
"Sports drinks work to maintain market share," Beverage Industry, July 1, 2014, Vol. 105 Issue 7, pSOI-6-SOI-7.
Larson N, Dewolfe J, Story M, Neumark-Sztainer D, "Adolescent consumption of sports and energy drinks: linkages to higher physical activity, unhealthy beverage patterns, cigarette smoking, and screen media use," J Nutr Educ Behav. 2014 May-Jun;46(3):181-7.
"Sports Nutrition Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," PR Newswire US. May 6, 2014.
Kalpana K, Lal PR, Kusuma DL, Khanna GL, "The effects of ingestion of sugarcane juice and commercial sports drinks on cycling performance of athletes in comparison to plain water," Asian J Sports Med, 2013 Sep;4(3):181-9."
Tomlin DL, Clarke SK, Day M, McKay HA, Naylor PJ, "Sports drink consumption and diet of children involved in organized sport," J Int Soc Sports Nutr. 2013 Aug 19;10(1):38. doi: 10.1186/1550-2783-10-38.
Committee on Nutrition and the Council on Sports Medicine and Fitness, "Sports Drinks and Energy Drinks for Children and Adolescents: Are They Appropriate?" Pediatrics, May 29, 2011.
Retrieved from "https://www.sourcewatch.org/index.php?title=Sports_Drinks&oldid=655367"
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text:
Poshmark Has Officially Distributed $1 Billion to Its Sellers
The earnings have been spread across four million sellers on the site since its founding in 2011.
Dara Prant
Photo: @poshmark/Instagram
Many of us turn to Poshmark after completing a closet cleanse or ridding ourselves of a questionable purchase. It's a great place to go when you want to give your clothes a new life (your body-con skirt from Nasty Gal graduated college with you, but Poshmark allows it to go back) and when you want to replenish your wallet so you can repeat the vicious cycle of capitalism.
And after seven years of selling off Tory Burch clutches, never-returned Bat Mitzvah gifts and gently-worn Reformation dresses, the site announced on Wednesday that its community of four million sellers have earned a total of $1 billion (!) since its founding in 2011.
"We are creating the next generation of fashion businesses," said Manish Chandra, founder and CEO of Poshmark in a press statement. "Our Seller Stylists have redefined the fashion landscape by leveraging social selling to build a community centered around style and sharing."
Fashionista Editors Reveal Their Activewear Must-Haves
In the last five years alone, Poshmark has experienced exponential growth, which is a direct result of the company's unparalleled ability to establish an advantageous marriage between social networking and commerce. This combination has created a highly addictive social shopping and unique selling experience, where people share style advice while buying and selling items through virtual and physical Posh Parties, and where people heavily interact with the platform. Members of the Poshmark community spend approximately 25 minutes per day in the app, opening it seven to nine times.
Subsequently, the users upload over $100 million of inventory to the platform each week and curate 14 million items daily, resulting in a sale made every second and packages shipped to 30,000 zip codes, covering more than 70 percent of the U.S. What's more, there's even a few sellers out there that are earning seven figures. This only serves as further proof that the resale market will be worth a reported $41 billion by 2022, far outpacing traditional retail — particularly fast fashion.
Here's to the next billion Poshmark!
PoshmarkNetwork
Poshmark Launches Wholesale Portal to Connect Fashion Brands With Its 1 Million Sellers
Once only a secondhand marketplace, Poshmark now allows some sellers to buy wholesale from participating retailers.
Rent the Runway Is Now Valued at $1 Billion
The female-founded company has raised $125 million in its latest round of funding, bringing its total investment to $337 million.
By Dara Prant
Here's How to Make a Living off Resale Sites
Power sellers and top earners from Grailed, Poshmark and StockX weigh in.
Must Read: Hudson Yards Made a $2 Billion Wager on a New Manhattan Mall, Suits Covered the Runways at Paris Fashion Week
Plus, how climate change forced fashion to get serious about sustainability.


Venture Event Registration & Reservations is an all-in-one solution that expands the e-commerce functionality so as to allow patrons to purchase event registrations and reservations; all without the need for any third party ticketing providers.
create a flexible array of registration types with unique pricing, benefits, and even private content.
provide attendee only site content.
date based tiered pricing to encourage early purchase upsells.
allow patrons to purchase attendance for friends.
Generate tickets that display as little or as much unique attendee information as needed (especially useful if your events offer special options you need to verify at the door).
add additional fields and signup forms to gather unique opt-in/out info.
special attendee CSV export function.
a new email confirmation admin panel to customize email receipts.
a new attendee email portal you can use to bulk email attendees.
special attendee reporting admin panels.
allow attendees to manage their reservation via an expanded user portal screen (even guest attendees!).
track inventory and offer discount codes.
You can expend this functionality to include scannable barcodes in email receipts with a few additional add-ons.


The Trouble with Emojis is….
Emojis and emoticons are the body language of today's world.
It's better to use precise, thoughtful language than depend upon a smiley to ensure your reader understands your intent.
On the other hand, if one 🙂 will take the place of two sentences or efficiently explain to a rushed reader, use it.
Your personality, the recipient's personality and your brand all come into play.
If the email is more formal, your leader is old-school, your brand is conservative or you're communicating for the first time, go for clarity rather than a more informal touch.
A smiley doesn't equal a smile. It simply clarifies intent.
Yet to say you can't or shouldn't use emojis today is oh so 2008.
If you still question the use of the exclamation point, this post probably isn't resonating for you! Oh, look! Another exclamation point!
Yes, you can use them too.
But be careful not to overuse any of these shortcuts.
If you give readers the chance to misunderstand, they will. Precise, concise messaging always wins the day.
For information on a customized email sales writing workshop for your group, please email Sue@SpeakerSue.com or complete our quick Interest form to check Sue's availability. Count on boosting productivity, professionalism and profits!


So you've determined to see with Keystone this winter, now comes the challenging part, where to stay? The mountain itself is composed of three separate peaks that line up from North Dercum, North Peak, and the Outback, each offering it's own unique terrain and features. Dercum Mountain is the furthest peak North and it's front side offers the only two access points to River Run, the entire mountain and Mountain House.
Of the two base areas, River Run is the newer of the two and is called the main Hamlet, where both the Summit Express chair and the gondola lift pick up and take you to the top of Dercum Mountain. This village features a pedestrian-only walking place, with plenty of adorable boutiques, ski rental shops, coffee shops and restaurants. There is an outside overnight ski bill near the gondola and bathrooms and lockers inside ticketing office and the season pass. The only thing this base area is really lost is a central 'ski lodge', but making up for it are plenty of restaurants within walking distance of the slopes. The Kickapoo Tavern is a fun place to have lunch or an apres ski beer, with a big outside veranda that looks out on the slopes. There are a bunch of River Run condos that are all within yards of the gondola, including Black Bear, Jackpine, Arapahoe, the Springs, Silver Mill, Dakota, Buffalo, Expedition Station and Red Hawk Lodge. The two authentic ski-in, ski-out properties at Keystone are Lone Eagle and the Timbers, which are actually then and across the Snake River Bridge just past the gondola up the inclines a couple of yards from the Village.
Both foundations are home to rental shops, skier services and ski schools. Mountain House has an excellent beginner's place with a magic carpet and easy chair lift. Beginner terrain that is similar can be found by you at the mid-mountain gondola stop and on top near Schoolmarm. You will also find a lift ticket office here at the base near the two chair lifts, the Peru and Argentine. You are taken by the Peru Lift to the top of Area 51, in addition to some blue and green runs and you're able to be back to the River Run Base area in just one run or hop on the quick mid-mountain Montezuma lift to head up to the top.
Timber Ridge Properties for sale are excellent investment properties at the moment while the market is in high demand. Timber Ridge condos are exceptional and very popular, most feature a private hot tub with a slopeside view! Slopeside Condominiums are just steps from the lifts, and are another great alternative at Mountain House. There are quite a few properties within walking distance to the mountain at a fraction of the price here that are. Only ski down, if you are feeling the need to stop by the chief village or take a shuttle!
Additionally, there are plenty of lodging choices outside of the two principal hamlets. Settler's Creek in East Keystone is one of the hottest and newest housing developments to the resort and feature beautiful multi-story town houses with garages and magnificent views of the surrounding mountains. In the centre of the neighborhood is 'Minnie's Cottage', a central recreational gathering spot, complete with grill, hot tub, pool table, a heated outdoor pool, and hangout place to barbeques and host gatherings.
Keystone Resort hosts a free resort shuttle that will take you just about anyplace you need to go within Keystone and the shuttle services complexes that are most accommodation. Most rides to the slopes from everywhere in Keystone are 10 minutes or less! There is also a free county-wide transit system called the Summit Stage helping to make it very simple to get around in the high country with no car. The Denver International Airport is just a mere 90 minutes away and there are numerous shuttle businesses that'll take you to and from the airport. Condos in Gore trail are some of the quickest access for those snowbunnies looking to minimize their time from tarmack to gondola.
If you're willing to stay outside of the chief hamlets at Keystone, you'll frequently be able to find better deals and prices on your own accommodations. Be certain you choose a property management company that lets you decide the exact property you are staying at so you are going to know what you may anticipate and can plan your trip in advance. If you've got a big group, ask your property manager about renting a private home! Wherever you stay in Keystone, you'll find it is very simple to find everything you might be looking for and more!
In essence, the volume must always go up along with the energy and the passion but when the crowd finally goes home; when the release parties are over and the greatest hits have been stamped – there is peace. The perfect place to switch off the amps might very well be the mountains. In the mean time though, keep on rockin.


The groovy quilt is finally done and gone to it's new home. This quilt was inspired by the fabrics of Pat Bravo – Carnaby Street – with it's psychedelic patterns and groovy colours.
I used a combination of applique techniques, including needle turned and fused with decorative stitch. The needle turn makes the petals standout and gives them definition and a slight dimensionality.
The background is one of my favourite Pure Elements colours – Nocturnal – a very dark navy. I prefer using navy or charcoal over black as it softens the project but does still adds a deep contrast to showcase the main fabrics.
Quilted with the Superior King tut – Nile Delta #934 40wt cotton and Aurifil 5015 40wt, 2530 50wt, 2784 50wt. I rarely use variegated threads but the deep navy background just cried out for this subtle variegation of yellow, lime and orange.
Using a combination of digital and free hand designs I highlighted areas of the quilt and made a faux border of funky flowers. The background was heavily quilted in a blending thread in an irregular filler design (my scribble).
Backed in a Moda "It's a Hoot" by Momo, 32375-26. Aurifil 50wt 5015 used as the bobbin thread.
This quilt was a prototype and I plan to make another and slightly alter the design. It now rests on a groovy teenagers bed where it shall be eternally loved. Yeah, Baby!
You have done this range proud! And the quilting! I love the swirls!
I absolutely love this! Love the quilting as well as the piecing!
Wow, I am absolutely blown away. This is one of the most fantastic quilts I have ever seen. A great theme, beautifully executed. It's stunning, well done you!
Jane, this quilt is fabulous and the peace symbol in the center brings back memories of my youth!!
Love the flower dresdens and how they are 'off-center'. I'll have to try that. Beautiful job!
Very different but it sure looks good.
I just love the way this quilt really captures that Groovy vibe. The quilting adds a whole layer of super sonic fun.


text:
By Steven July 16, 2020 Uncategorized
Culture Press Releases ("us", "we", or "our") operates the Culture Press Releases website (the "Service").
We use your Personal Information for providing and improving the Service. By using the Service, you agree to the collection and use of information in accordance with this policy. Unless otherwise defined in this Privacy Policy, terms used in this Privacy Policy have the same meanings as in our Terms and Conditions, accessible at https://www.culturepressreleases.com


text:
Roesy may refer to:
 Roesy (singer)
 ROESY, rotating-frame nuclear Overhauser effect correlation spectroscopy

See also
 Rosey (disambiguation)
 Rosy (disambiguation)

redpajama_set_name: RedPajamaWikipedia


text:
Aalt Gerritsz van Dijkhuizen (Nijkerk, 10 maart 1788 - Ouddorp, 10 december 1864), was een predikant in de Nederlandse Hervormde Kerk en auteur van een aantal theologische boeken en geschriften.

Biografie
Van Dijkhuizen werd geboren in Nijkerk in 1788. Zijn familie bezit een tabaksplanterij. Hij wordt gedoopt in de Grote Kerk van Nijkerk op 12 maart 1788 (2 dagen na zijn geboorte), waar hij jaren later, op 1 februari 1806 ook belijdenis van zijn geloof aflegt. Hierna woont hij enkele jaren in Hattem, waarna hij vertrekt naar Leiden voor zijn studie.

Hij volgt een studie Godgeleerdheid aan de universiteit te Leiden en op 7 november 1813 wordt Van Dijkhuizen predikant te Rijnsaterwoude. Hij trouwt er met Margaretha Petronella Verkouw en op 4 maart 1817 wordt hier zijn dochter Alberta Adriana geboren. Op 7 april 1817 vindt de intrededienst plaats in Wijk bij Heusden. Van hier vertrekt hij op 8 maart 1818 naar Ouddorp. In deze gemeente stond hij, ondanks vele beroepen (vooral rond 1825) tot zijn dood, 46 jaar lang.

Aan hem wordt algemeen toegeschreven dat de afscheiding van 1834 in Ouddorp niet veel aanhangers kreeg. Van Dijkhuizen was een aanhanger van de Oude Waarheid. De terugkeer van de Hervormde Kerk tot haar oude belijdenis was iets waarop hij vurig hoopte en waarnaar hij streefde. Maar voor twistgeschrijf voelde hij weinig en voor afscheiding nog minder. Hij zag alleen heil in de weg van een getrouwe Woordbediening. Dit was mede de oorzaak dat er veel preken van zijn hand in druk verschenen. Hierdoor verwierf de predikant ver buiten dorp en eiland een zekere bekendheid. Volgens de geschiedschrijvers van de Hersteld Hervormde gemeente te Ouddorp was Van Dijkhuizen de bekendste predikant uit de geschiedenis van de gemeente. De predikant wil geen geld verdienen door de uitgave van zijn preken, deze worden op zijn verzoek uitgegeven ten voordeele van verarmde geloofsgenooten.

Afscheiding
In 1836 scheiden de eerste mensen in Ouddorp zich af van hervormde kerk. In 1839 blijkt dat er een zelfstandige gemeente met een eigen kerkenraad is. Het gaat dan om circa 20 gemeenteleden. Van Dijkhuizen tracht zijn gemeente te weerhouden van afscheiding.

Wanneer in 1840 de afgescheiden predikant Cornelius van der Meulen preekt in een woning te Ouddorp leidt dit tot een strafklacht bij de rechtbank te Brielle tegen zowel de predikant als Cornelis Mastenbroek, in wiens huis de kerkdienst plaatsvond. Tegen de predikant wordt een boete van fl 50,- geëist en tegen Mastenbroek tweemaal fl 8,- omdat hij niet alleen zijn huis beschikbaar had gesteld, maar ook nog had gecollecteerd. Beiden werden vrijgesproken.

In ieder geval in 1844 zijn er te Ouddorp nog godsdienstoefeningen van de afgescheidenen gehouden. In dat jaar verschijnt Baaltje Molesteeg voor de hervormde kerkenraad. Zij wil dat zijzelf en ook predikant Van Dijkhuizen van het avondmaal worden afgehouden; zij, omdat zij met verzaking van de godsdienstoefening (van de Hervormden), de afgescheidenen, bij welken nog het brood des levens was, naliep. De predikant, omdat zij hem gezien had, in het verleden jaar, op eenen zondagavond, bij den burgemeester [= Abram Willem Bernardusz van Kerkwijk], nevens anderen zittende, rockende en thee drinkende — omdat hij... 's Woensdag avonds ging schaken, en ook in de Menniste Kerk was geweest. Blijkbaar speelt enig oud zeer een rol bij deze klacht, want in 1836 had de predikant haar diaconale ondersteuning geweigerd, waarom zij had gebeden en nog bad, dat de hemeldeur voor hem mogt gesloten blijven. Baaltje krijgt gedeeltelijk haar zin. Zij wordt inderdaad van het avondmaal uitgesloten als in verregaande haat en nijd tegen hare naasten levende.... Na 1844 wordt er van de kleine afgescheiden gemeente niets meer vernomen. Pas in 1892 en 1928 ontstaan er in Ouddorp respectievelijk een Gereformeerde Kerk en een Gereformeerde Gemeente.

Publicaties
Van Dijkhuizen schreef vele bijdragen in het pastorale tijdschrift De Wachter op Sions muur. Veel preken van hem zijn op schrift gesteld. Enkele van hem verschenen boeken zijn: Leerzame en praktikale verhandeling over Math. 14:22-34 (uitgegeven te Amsterdam in 1856) en: Het oordeel der nationale synode over de betwiste vijf hoofdstukken der gereformeerde leer (uitgegeven te Gorinchem in 1858). Kort voor zijn dood wordt het boek Het Woord des Levens uitgegeven te Hoogeveen, in 1861. Vele jaren na zijn dood wordt nog uitgegeven het boek Schets over een treffend beeld van een christen (Ouddorp, 1986).

Externe links
 De gelovige verwachting van Daniël op de eeuwige zaligheid. Leerrede uit: De wachter op Sions muren, ca. 1855
 Informatie over de familie Van Dijkhuizen. Afbeelding van de predikant op pagina 8. Deze afbeelding is in bezit van het Iconografisch bureau te 's Gravenhage

Nederlands predikant
Ouddorp
Bevindelijk gereformeerd persoon
Geschiedenis van Goeree-Overflakkee