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M&A Negotiation Tactics and Strategies: Tips from a Pro
Javier Enrile
Javier has 16 years of experience in mid-market M&A and VC, with 35 completed transactions and hundreds of others evaluated and negotiated.
M&A deals are hard to get right.
If not done correctly, M&A deals often don't work out. A recent study by S&P Global Market Intelligence found that the share prices of companies that had made an acquisition tended to underperform the broader index.
In fact, many times M&A deals actually destroy value, as a study by consulting firm LEK showed.
However, if done properly and with careful preparation, M&A can be a game-changing and transformative events in the life of any company. An example of this is Disney. Over the last decades, Disney has consistently extracted significant value from its numerous acquisitions and grew shareholder value in line with Google and other tech companies.
Legal documentation helps manage risk.
The M&A negotiation process is often misperceived as simply a process of striking an agreement on the purchase price, forgetting the just-as-important risk allocation exercise which occurs in the negotiation of definitive contracts.
The legal framework creates the structural edifice of the negotiation process and serves four main purposes: (1) memorialize in detailed legal language the business understanding between the parties, (2) allocate risks, (3) gather more information, and (4) set out the consequences to each party when things go wrong.
The legal framework can be divided into two main phases: the first phase encompasses the Letter of Intent (LOI) (also called a Term Sheet or Memorandum of Understanding) and the second phase includes the definitive contracts and the due diligence process which aim to transform data into intelligence to guide the negotiation process.
Negotiating strategies can make a huge difference.
I often hear authoritative acronyms like BATNA or ZOPA as tools to navigate the negotiation process. These are concepts based on the premise that human beings are rational actors which is, however, not the reality. My strong belief is that what drives our decisions and behavior is an invisible basic impulse, shaped by our deeply entrenched habits, fears, needs, perceptions, and desires.
Negotiation theory has evolved considerably since its beginnings in 1979 with the formation of the Harvard Negotiation Project which assumed people were "rational beings".
Based on my 15 years as an M&A practitioner, I am a firm subscriber to a newer school of thought coming out of the University of Chicago and which was immortalized in the 2011 bestseller Thinking, Fast and Slow which declares that humans have two systems of thought: System 1 which is our basic impulse - instinctive, emotional, irrational, and System 2 which is deliberate and logical. System 1 guides and steers System 2.
Preparation and planning are not chores, they're fundamental.
A consistent, disciplined investment process is a driver of good outcomes and an enabler of good judgment in decision-making. In particular, it helps avoid deal frenzy and ensures consistent analytical rigor.
When it comes to preparation, the main ways to be ready for the twists and turns of a highly intense negotiation process are to (a) gather information on the counterpart and, (b) have sound valuation analysis in place.
The negotiation process is lengthy and requires a vast amount of information exchange. Having a process to exchange information and facilitate decision-making is vital.
In the professional life of a CEO, a merger or acquisition can be one of the most exciting events that take place, if not the pinnacle of one's career. M&A deals are headline-grabbing events that can propel companies to levels that organic growth alone would otherwise never have been able to reach. But as many studies show, M&A deals often don't pan out quite the way they were planned. A recent study by S&P Global Market Intelligence, for instance, showed that share prices of firms in the Russell 3000 index that had acquired a company between January 2001 and August 2017 tended to underperform the broader index. As for the reasons for this disappointing performance, the same study found that relative to the peer group, acquiring company net profit margins tended to fall, as did the returns on capital and on equity. Earnings per share also grew less quickly, and debt and interest expense figures tended to increase.
Over my two decades as an M&A practitioner in private equity, venture capital, and corporate roles, I've worked on enough deals to know why the above happens, and it usually comes down to a simple fact. Most companies approach M&A deals incorrectly, thinking that it is merely an exercise of agreeing on a price between both parties. What they fail to understand is that there is a science to doing M&A deals that often makes the difference between a deal being successful and not.
The purpose of this post is to highlight three important ways in which companies can better prepare and execute M&A transactions to maximize their chances of success.
The Fineprint Matters: Using Legal Documentation to Effectively Manage Risk in the Negotiation Process
In 20 years of working on M&A deals, I've heard the following sentence from both buyers and sellers far too many times: "Javier, thank you for getting the purchase price agreed and term sheet done, let's send it to the lawyers to put it in writing and call it a day." Or even more worrisome, "These contracts are a maze of mumbo-jumbo which I don't care about, the relationship is what matters". The M&A negotiation process is often misperceived as simply a process of striking an agreement on the purchase price, forgetting the just-as-important risk allocation exercise which occurs in the negotiation of definitive contracts. Some market participants have not gone through a bad experience (e.g. when the target firm is not what it was supposed to be), in an M&A transaction and therefore lack the tacit knowledge of the importance of having well-negotiated definitive contracts. This is often the difference between losing all the capital at risk or recovering 80% or 90% of it.
The legal framework can be divided into two main phases: the first phase encompasses the Letter of Intent (LOI) (also called a Term Sheet or Memorandum of Understanding) and the second phase includes the definitive contracts and the due diligence process which aims to transform data into intelligence to guide the negotiation process.
Before arriving at the Letter of Intent, the two sides have little to show but a degree of conviction that the potential transaction meets their respective strategic objectives and some sense of the level of chemistry between the management teams. The purpose of the LOI is to set the key terms of the deal: the price, form of payment, and structure. It also serves as a means to confirm the understanding, express commitment to the transaction, and set the ground rules for future negotiations. While in some cases practitioners opt to skip this phase and move directly into phase II on the grounds that it saves time and cost, I always recommend to take the time and effort to draft and negotiate an LOI to ensure that there is agreement on the main terms before diving into the lengthy and costly process of performing due diligence and negotiating definitive contracts.
How the LOI is negotiated has significant consequences for buyers and sellers. In particular, sellers risk leaving substantial economic value on the table and compromising on strategic deal terms whereas buyers can lock themselves into positions that need to be reversed in phase II and expose themselves to legal risks that may prevent them from walking away from the deal. Therefore, parties should seek expert advice on the negotiation and drafting of LOIs.
A typical LOI for a middle market firm will look similar to this:
Sample Term Sheet
The use of negotiating leverage at different phases of the deal to increase negotiating strength is a perfect example of how having expert advice ensures effective negotiations. A key point on negotiating an LOI is to understand how negotiating leverage shifts as the deal cycle moves along. The seller achieves the maximum leverage right when the LOI is being negotiated as they can exploit the competitive tension created by having many buyers interested. From that point on in the deal cycle, the seller's leverage declines while the buyer's leverage increases. After the LOI has been signed, typically the seller will be in exclusive negotiations with one buyer (or at most, two) which decreases the competitive tension mentioned above. In addition, with the passage of time, one or more of these circumstances could arise: (1) the content and terms of the LOI could be leaked, potentially causing several complications (e.g., employees could get nervous and start seeking other jobs or customers may become concerned about whether the new owner will increase prices or fail to provide the same level of service which may lead them to look for another provider), (2) a seller can also get emotionally attached to the idea of the sale and begin thinking about ways of spending or investing the proceeds, or, if they are owner-executives, moving on to other activities (including retirement). All of these circumstances reduce the seller's leverage as it makes it harder for a seller to resist demands from the buyer after the LOI is signed. The phrase "becoming wedded to the deal" is an apt one.
Practitioners have unique insight on how the leverage shifts on each step of the negotiation process and use this insight to obtain the best possible outcome. For example, buyers should attempt to keep the LOI short and more general, deferring negotiating key issues in the definitive contracts phase where their leverage level has increased. Conversely, sellers should attempt to have the LOI as detailed and comprehensive as possible so that it takes advantage of its optimal bargaining positions. Below we show how the seller's leverage shifts in each phase of the deal:
In contrast to the LOI, which is for the most part non-binding, definitive contracts are binding and set out all the details relevant to consummate the deal. The definitive contracts serve two vital purposes: (1) it helps to obtain additional information and allocates risk exposure, and (2) shapes the behavior of the parties during and after the transaction.
Disclosure of information and allocation of risk: the representation (or "rep" is a statement of fact about the target firm; the warranty (or "warrants") is a commitment that a fact is or will be true. These reps and warrants serve two key purposes: first, it provides additional information about the firm, recognizing that no amount of due diligence can reveal all information about a firm. The sellers are asked to make descriptive statements about their firm which the buyer can rely on for purposes of due diligence. Second, it shifts the risk of known or unknown circumstances which could reduce the value of the firm between the parties. For example, a typical representation is that the seller does not have any pending litigation. This shifts the risk of this negative event, i.e., pending litigation, to the sellers because if in fact after the transaction is consummated the buyer uncovers that there was pending litigation, the buyer has a legal basis to collect damages and recover part or all of the purchase price.
Shaping behavior between signing and closing: covenants typically refer to the conduct of the firm and its management in the period of time between signing and closing which can take a number of months. This period is complex because on the one hand the buyer is legally obligated to close (unless the conditions to close are not met) but on the other hand, the buyer doesn't own the firm yet. As a result, the buyer and sellers agree on a set of covenants that legislates the operations of the firm during this period.
Below is an example of the wording for two of the most typical warranties related to litigation and financial statements, and also a set of typical covenants:
Sample Warranties and Covenants
Negotiation Theory and Tactics
One of the most underappreciated aspects of M&A negotiation relates to the tactics and strategy that stakeholders use. I often hear authoritative acronyms like BATNA or ZOPA as tools to navigate the negotiation process. These are concepts based on the premise that human beings are rational actors which is however not the reality. An example that comes to mind was during the early phase of an LOI negotiation. I had emailed a detailed opening purchase price bid which by all measures was at least a market offer. Wanting to show my commitment I proposed a meeting in person to get the seller's response and counter. The setting was a stuffy, big conference room at a long table with the entire management team from both sides. After a brief round of introductions, the sellers CEO, having stared at me in silence for thirty seconds, said: "Javier the offer is cheap, and you are cheap.""
This example, although a bit extreme, illustrates my strong belief that what drives our decisions and behavior is an invisible basic impulse, shaped by our deeply entrenched habits, fears, needs, perceptions, and desires. In the example above, the seller's CEO had a basic impulse to crush whoever was against him based on the perception that that was the way to handle the opposition, even if it means to lose a perfectly attractive offer.
Negotiation theory has evolved over the years, the first school of thought has its beginning in 1979 with the formation of the Harvard Negotiation Project. Two years later, Roger Fisher and William Ury – co-founders of the project – came out with the book Getting to Yes, which became the bible for negotiation practice. In their work, the core assumption was that the emotional brain (or the basic impulse as I like to define it) could be overcome through a more rational, joint problem-solving mindset. Their system was simple and easy to follow with four basis tenants: (1) separate the basic impulse of the person from the problem, (2) focus on the other side's interest rather than their position, (3) work cooperatively to find win-win options, and (4) establish agreed standards to evaluate these possible solutions.
Practitioners needed to assume that we are "rational actors" so in the negotiation process one assumed that the other side was acting rationally and selfishly in trying to maximize his/her position, the goal was to figure out how to respond in various scenarios to maximize one's own value.
A different school of thought emerged at the University of Chicago in and around the same time where economist Amos Tevesky and the psychologist Daniel Kahneman assumed humans are "irrational beasts" rather than rational actors. They concluded that a key characteristic of the human condition is that we all suffer from Cognitive Bias that is unconscious and irrational brain processes that distort the way we see the world. Kahneman illustrated all his research in the 2011 bestseller Thinking, Fast and Slow where he declared that man has two systems of thought: System 1, our basic impulse which is instinctive, emotional, irrational, and System 2 which is deliberate and logical. He concluded that System 1 guides and steers System 2.
I am a firm subscriber to the second school of thought. I arrived at this conviction through two different paths: first during my 15 years of experience negotiating deals I have seen evidence over and over again that the basic impulse overrides rational behavior. Second, over the last 10 years, I have been investigating how my own mind works through contemplative practices which have reinforced my belief that basic impulses drive how reality is perceived which in turn shapes how decisions are made.
So, if one believes that your counterpart in a negotiation is an "irrational beast", what in the world can you do? In this paragraph, I offer six practical tactics whose main objective is to neutralize negative basic impulses and leverage the positive ones in order to increase the probability that the counterpart accepts your asks. I describe each tactic and a real-life example to illustrate the use of it:
Observe and understand habitual tendencies: while behavior is difficult to predict, habits are very predictable as human beings are "habitual animals". During the first days of the negotiation, observe the habitual tendencies of your counterpart so you can leverage this insight in your favor.
For example, in a recent transaction, I observed that the lead negotiator (the seller's CEO, in this case) on the other side had the following habitual behavior: during group negotiations where lawyers and other members of his management team were present he took a very hard line and rarely compromised; however, in private one-on-one conversation with me, he was more open and willing to compromise. No doubt, this was an example of how the basic impulse, in this case, the need to preserve self-esteem (or "face") in front of his own management team was driving this habit. Armed with this insight, I changed the process and conducted all the negotiations on a one-on-one basis which accelerated progress by neutralizing this particular basic impulse.
Use the negotiation process itself as a systematic intelligence gathering exercise: observe how the counterparty reacts and counters to the initial terms and the subsequent changes as the process goes along. This is the best way to extract the insight of what really matters, i.e., his/her tradeoffs. The basic impulse getting in the way, in this case, is the fear of being taken advantage of if the counterparty "knows too much" which then limits the information shared between parties. This tactic recognizes the problem and finds an alternative technique to unearth what matters to the other side using the bargaining process itself.
For example, towards the end of the negotiation process in a deal, we uncovered, through due diligence, that a key revenue producer for the target firm and a key component of our forecast was at risk. Armed with this new information, we went back to the target to let them know that we were reducing the price. The target understood (see section below) but did not give us any indication on what element of the purchase price (in this case, the purchase price was highly structured) he had flexibility. As a result, we used this tactic and changed one element at the time until we got to the one the target had flexibility on.
Carefully examine the form and channel used to present proposals and counters: the way the proposal is presented has an important effect on how it is perceived and as result on the outcome; therefore, careful planning and execution is needed.
Using the same example above, I carefully thought about the form and channel to use in order to deliver the news to the target firm that we were lowering the purchase price. First, rather than having a group setting, I asked the lead negotiator to meet in private in order to "maintain face". In terms of the form, I opened the conversation by explaining in great detail what we have found and reminded him that this particular client was on his management forecast. Then, I posed the question to appeal to his sense of fairness, "John, this new information makes the cash flows associated with this client much more uncertain. Am I supposed to leave the price the same?"
Never say "no" immediately, even if the ask is unreasonable, instead replace it with "let me see what I can do": building a sense of trust and empathy is imperative in these long negotiation processes. The basic impulse at play, in this case, is the universally applicable premise that human beings want to feel heard and accepted. This tactic leaves an emotional imprint in your counterpart's brain that you are committed to making things work and that you understand how it is to be in their shoes.
For example, in another deal, I was negotiating with a target firm with four different partners, who all had very different perspectives. As a result, their positions kept changing which meant having to negotiate the same terms multiple times. As the changes kept on coming I always listened and took away the ask to consider it. All four partners, after the deal was done, commented that while negotiations were tough they always felt heard and understood even if the final answer was no, which in turn increased their willingness to compromise.
Conduct multi-issue bargaining: attempt to negotiate multiple issues simultaneously and as a package rather than performing a one-issue-at-a-time negotiation process. This reinforces the sense of fairness and equality as both the buyer and seller give in but also gain.
Effective Preparation and Management of the Negotiation Process
Finally, a third crucial way of maximizing the chances of success in an M&A deal has to do with two simple, but often forgotten points: preparation and management. A consistent, disciplined investment process is a driver of good outcomes and an enabler of good judgment in decision-making. In particular, it helps avoid deal frenzy and ensure consistent analytical rigor.
When it comes to preparation, the main ways to be ready for the twists and turns of a highly intense negotiation process are to (a) gather information on the counterpart and, (b) have sound valuation analysis in place. The following are five practical to do's that should precede any negotiation process:
Assess both parties' strategies: develop a full understanding of the strengths, weaknesses, opportunities, and threats of both the seller and buyer
Value the target: conduct extensive valuation analysis so that one has a high level of conviction of the value of the target firm and also what key factors affect value the most
Determine the opening bid and walk-away price: refine the strategic and valuation analysis so that you have a high level of conviction on the opening bid price and the walk-away or reservation price. The walk-away price becomes an important discipline on one's conduct of negotiations and should only be changed if there is new information that changes the fundamentals of the target firm. The walk-away price serves as a defense mechanism against physiological tactics, such as anchoring.
Consider the level of interest of each party to consummate the deal: there are certain circumstances which elevate the level of interest to a point where it could be exploited. In the case of the seller, typical circumstances are situations of financial distress, the need to sell a stake from an existing shareholder, and the belief that the market conditions are ideal and temporary. For the buyer, a typical circumstance is pressure to consummate a deal to show the market that excess cash is being deployed. If these circumstances exist and are known, they should be factored into the opening purchase price. For example, a seller that is in financial distress should be willing to accept a lower price in exchange for having the certainty of execution.
Know who you are negotiating against: understand the reputation and habitual patterns of the counterparty. For example, knowing that your counterparty has a behavior of constant bluffs, threats, and ultimatums prepares you to use different tactics.
The negotiation process is lengthy and requires a vast amount of information exchange. Having a process to exchange information and facilitate decision-making is vital. The following four tactics facilitate a well-run process:
Develop an issues list to extract the most important issues arising from the definitive contracts. These lists should be used as the basis for the negotiation sessions to ensure the positions are clearly described and the agreements memorialized. The issues list is also used to record the history of a particular term so that one can see the full negotiation process for each term. This list should show the issue, the position of the seller, the position of the buyer and any notes. Below we show a sample of a part of an issues list:
Ensure that the negotiation is a step by step process: having made a move, ensure that your counterpart reciprocates by either accepting or rejecting your proposal. This ensures that one party doesn't negotiate against him/herself, which is a critical point. Additionally, reciprocity helps keep the other side at the bargaining table and the continued movement helps build a sense of momentum toward the goal, which helps the two parties find common ground.
Manage time carefully: how time is managed could have positive and negative impacts. The passage of time, on the one hand, allows for parties to agree on a set of terms that are mutually beneficial, but on the other, it could give rise to fatigue and negative emotional situations. Deadlines are necessary to keep the process going but they could be interpreted as ultimatums. Therefore, the effective and careful management of time is a critical component of the process.
Reflect due diligence findings into the contracts through the entire negotiation process: the intersection between due diligence and the negotiation process is an important one. Upon uncovering a new issue in due diligence, parties should expect to revisit terms already agreed.
Parting Thoughts: If Done Right, M&A Can Supercharge Your Company's Performance
At the beginning of this article, I mentioned how a large majority of M&A deals don't end up performing as planned. In fact, that's probably an understatement. A study by consulting firm LEK of 2,500 deals found that more than 60% of these actually destroyed shareholder value.
But whilst the abundance of examples of failed M&A deals may turn you off pursuing such a path, I think that would be an incorrect conclusion to draw. In fact, there are similarly many examples of companies who, through M&A, have achieved tremendous success. One such company is Disney. In the last decades, Disney has closed numerous acquisitions (in fact, since 1993 it has made 12 acquisitions), the most high profile of which are: the acquisition of Pixar in 2006, the acquisition of Marvel in 2009, the acquisition of Lucas Films in 2012, and most recently may be about to buy 21st Century Fox.
Having done so many acquisitions, and having seen the probabilities of failure mentioned above, one would think that the chances of a failed Disney acquisition would be fairly high. Well, you'd be wrong. In almost all of Disney's deals, the company has managed to extract significant value from the acquired companies, and in fact, six of its biggest eight acquisitions can be considered major successes. So much so that Disney's market cap has tripled in a decade, a performance just shy of Google's parent company, Alphabet.
Disney's history of consistently successful acquisitions illustrates the point very clearly: M&A is not just an art, it is also a science. When mastered and performed correctly, it can unlock tremendous value for shareholders. By effectively managing your risk through the legal framework, by planning your negotiation tactics and strategy, and by preparing and managing the M&A process effectively, you can maximize your chances of success in an M&A event, and take your company to the next level.
What is strategic M&A?
Strategic M&A is when two companies merge because there is a strategic advantage for their companies to be united rather than remain separate. Often this can be for reasons of synergies and cost reduction, or a stronger competitive position.
Why do companies merge with or acquire other companies?
There are many reasons why companies merge or acquire other companies but some of the main ones include synergies (cost reductions), competitive strength, economies of scale, and pricing power.
What percentage of mergers and acquisitions fail?
Many mergers and acquisitions fail to generate significant value for investors, and in fact, a study by consulting firm LEK found that 60% of M&A deals actually destroy value.
What is an M&A specialist?
An M&A specialist is someone with intimate knowledge of the M&A process, including legal documentation, negotiation tactics and strategies, preparation and planning, and management of an effective process.
MergersAndAcquisitionsBestPracticesDueDiligence
Great stuff. A 'print' feature would be good for airplane reading & sharing with officemates.
javierenrile
Thank you, Austin for your feedback
Shantanoo Govilkar
Great insight regarding the business aspects of an M&A prior to the deal. Consider key post-transaction tips focused on IT Integration: 1. Vigorously communicate the Deal Type (vision behind the deal) across organization This prevents "Integration Train-wreck"! Even successful deals score at best 86% in achieving the 'Deal Synergy' 2. Champion the need for an "Integration Management Office (IMO)" A cross functional team including people from Finance, HR, IT, Operations etc. 3. Establish Deal Synergies early, during 'Exploratory Due Diligence' 4. Involve CIO in Exploratory Due Diligence as IT contributes to anywhere from 35% - 70% of Deal Synergies 5. Leverage M&A IT Integration specific tools to manage the Integration – MS Project does not cut it! 6. Emphasize contractual clarity on _new_ IT paradigms E.g. Social Media, Mobile, and Cloud technologies 7. Last but not least, create a cultural mindset conducive for M&A success! What are your experiences? Feel free to add!
Thank you so much Shatanoo for the feedback. Indeed integration is key. I have seen many deals which have all the right elements but because integration wasn't well planned and/or executed the deal went bad. Your points above are no doubt key elements of any integration plan


Motherhood is a central Advent theme but let's also remember the call to fatherhood as we approach the birth of Christ.
So, who better to reflect on this than a father of five?
John Green, is Director for Development for the charity Apostleship of the Sea and shares his experiences of fatherhood and looks at the intrinsic link between our earthly father and God our heavenly father.


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What's more stable than Bitcoin or UST? AriZona Iced Tea
Amanda Silberling Anita Ramaswamy 9 months
ICYMI, stablecoins are in deep shit right now, and the chaos that unfolded this week has thrown the entire crypto ecosystem into turmoil with over $400 billion in losses from just one coin alone. In these times of uncertainty, all we can rely on is that we can purchase a can of AriZona Iced Tea for 99 cents, the same price that the refreshing beverage sold for in 1996. Mossy, a collective of three techy artists, thinks that an (unofficially) AriZona-backed stablecoin can save the crypto economy.
A stablecoin, as the name implies, is supposed to be stable because it tracks the value of another asset — similar to how gold bars once backed the U.S. dollar during gold-standard times.
In the case of TerraUSD (UST), formerly one of the largest stablecoins that fell from grace this week, each UST coin was supposed to stay consistently equivalent in value to one U.S. dollar. But there were no physical reserves — instead, the group behind UST used algorithms and reserves of other cryptocurrencies to manage its price. That system went haywire, leading some holders of UST to withdraw their money, and before investors knew what had hit them, the panic and fear compounded and UST was trading as low as nine cents on the dollar. UST's sudden collapse has led to over $400 billion in losses for investors over the past week or so, leaving people to question the, well, stability of stablecoins as a whole.
Mossy's solution for the calamitous sector, a stablecoin called USDTea, is backed by what they claim is America's most stable asset: cans of AriZona Iced Tea. For over 30 years, AriZona founder Don Vultaggio has been working tirelessly against inflation to keep the cost of each can at exactly 99 cents, playing hardball with suppliers to keep input costs low and sacrificing his own profit for the sake of consistency.
As for Mossy, you may have seen their work before. The group launched the "Non-fungible Olive Gardens" project that got them in some hot water over copyright laws as well as the "Blockedchain" NFTs that only Twitter users who have been blocked by famed (and pugnacious) venture capitalist Marc Andreessen can mint.
Mossy quietly announced the USDTea stablecoin project on Twitter one and a half hours before selling out all 1,000 tokens they initially supplied. We sat down with Brian Moore, one of the three members of the artists' collective — another member is Mike Lacher, who recently went viral for his AI that harshly judges your music taste, while the third member chooses to remain anonymous. Moore regaled us with his (mostly) straight-faced, highly serious explanation of Mossy's ambitions to bring stability to an unstable world — one can of iced tea at a time.
Image Credits: USDTea (opens in a new window)
TC: So, who are you? What is this collective that tries to save crypto through AriZona Iced Tea?
BM: We're a little group called Mossy, and the last three things we've made have all been web3 projects. We created non-fungible Olive Gardens, and then we did Blockedchain, which was an NFT series that you can only mint if you're blocked by specific people on Twitter, like Marc Andreesen. And now the latest is USDTea, which is a stablecoin that's linked to the most stable asset we know on planet Earth, which is AriZona Iced Tea.
Can you literally connect your wallet to this and get a token?
Well, first of all, I just got word that we are fully out of the 1,000 that we started with [after about an hour and a half post-launch]. That's the weirdness of this world. It was the same thing with non-fungible Olive Gardens; we quietly released it, and then it was gone within I think 10 hours.
AriZona Iced Tea might be $0.99, but what about gas fees?
The way the flow works is the fees aren't super high. It's an ERC 20 token. I bought some and I think it was, you know, negligible, like $4 or something in gas fees. And then, just like any other stablecoins that are pegged to currency, you can always switch back. In this case, you can burn your USDTea and we will ship you cans of AriZona Iced Tea, because it wouldn't be backed by it if we didn't actually do that. So we have our strategic reserves of AriZona Iced Tea to use if people want to convert it back at any given time.
Do you actually have 1,000 cans of tea?
It's 1,000 cans where we're starting. That might expand in the future. And if we do that, I think we'd probably be open to external auditing depending on the situation, but currently, we've got 1,000 cans basically, and we will distribute them as necessary. Right now we do have reserves split around different locations around the U.S.
Do you make these satirical web3 projects as your full-time job?
The more we do this, the more it becomes something that is more full time, but I'd say we're mostly artists.
How many people are you?
We're three people. So we're pretty … I guess the word would be nimble. It allows us to make things very quickly. In the case of the destabilization of currency-pegged cryptocurrencies, you know, when did that whole snafu go down? We're trying to bolster the crypto economy as quickly as possible, and we can only do that with a small team.
Did you conceive of this idea last week when Terra was collapsing?
Exactly. There's something to be said about the stability of stablecoins, right? That's half the word, stable. And then you think, what's the most stable thing you can imagine? AriZona Iced Tea, you really can't beat it.
How do you make money off of this, or is making money not the goal?
It's not necessarily the goal, really, but I think we want to support ourselves at some point. We're in the interest of making interesting work on the internet, and that is the ultimate goal. If it makes us money, great, and if it doesn't, then that's fine too. Ultimately, we're just making interesting things — making people think, making people laugh, or, you know, stabilize their assets in canned iced teas.
How would you make money?
These are fungible assets, so it's meant to be more of a currency replacement than, say, an individual art piece. One USDTea is equal to one USDTea. There's no one of them that's better than the other or rarer than the other. They're all equal to one can of AriZona's Iced Tea.
AriZona stablecoin when??
— AriZona Iced Tea (@DrinkAriZona) May 16, 2022
But to redeem your can of tea, you have to pay a $20 flat processing fee. What is that fee?
That's just literally the logistics of shipping. That's not a money-making scheme to make profit off of the transaction; it's to get you your personalized tea assets that you can store in your own location.
On your website, you have the question "what happens when ETH crashes?", and you say that you update the ETH/USDTea to match ETH/USD from time to time. What does that entail?
It just means that as Ethereum might change in price, we want to match that so the rate ends up being around 99 cents.
How often will you do that? I imagine you don't have an algorithm.
No, there's no algorithm yet. That might come in the future — it all depends on how wide we expand this. We're taking it one step at a time. This has been about 90 minutes worth of launch time, so once we stabilize our own situation, we'll figure out what we need to do.
Obviously, Terra was the inspiration for this project. Do you have any opinions or takes about what happened, and how Terra's handling that?
I think our company speaks through the work itself. We're here to try to stabilize an unstable world, so I think that backing our assets in a new, innovative and most importantly stable asset … I think that sort of says all that we need to say about that situation.
An anteater. Image Credits: MICHAL CIZEK/AFP via Getty Images
Would you say you're bullish or bearish on crypto?
Are we bullish? Are we bearish? I don't know. I think we're exploring it. We love it as a medium through which to make interesting art pieces. I don't think we necessarily have an answer or have an animal to assign to it. You can just say anteater or something like that.
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redpajama_set_name: RedPajamaCommonCrawl


text:
Winny de Jong (born 9 October 1958 in Hazerswoude-Rijndijk) is a former Dutch politician.

From 28 May 2002 till 30 January 2003 she was a member of the House of Representatives of the Netherlands; at first for the Lijst Pim Fortuyn (LPF) and since October 2002 for the Groep De Jong.

Personal life & LPF
Her family moved to Monheim am Rhein in Germany when she was four years old. In 1989 she moved back to the Netherlands and started a career as a photo model and actress.

She became head of the Consumer and Quality of the Central Food Trade Agency, a position that regularly caused her to be at loggerheads with the farmers in the Netherlands, including Wien van den Brink, who later became her colleague in the LPF parliamentary faction.

She got some publicity after Pim Fortuyn had asked her as future fractievoorzitter (faction leader) for the LPF. She was also tipped as a future leader of the party by the media. She was elected to go the House of Representatives for the LPF on 15 May 2002 but could not be sworn in as a member until 28 May because of a mental breakdown caused by the campaign and the death of Pim Fortuyn. This also caused her to miss the election for fractievoorzitter.
Later Winny de Jong declared her labile behavior was caused by a bipolar disorder.

De Volkskrant reported in an article about incivility in Dutch politics that Winny de Jong called her political adversaries "landverraders" (traitors to the country) and Els Borst "een fossiel" (a fossil). Winny de Jong called Ferry Hoogendijk, who was her colleague at the time, a "dictator". Hoogendijk said: "De Jong had a manic depression. If you become a member of the House of Representatives you shouldn't have an illness like that".

Groep De Jong
She defected together with Cor Eberhard from the LPF-fractie on 1 October 2002 because of dissatisfaction with the fractievoorzitter of the LPF, Harry Wijnschenk. De Jong and Eberhard continued together under the name Groep De Jong. Winny de Jong was fractievoorzitter of the Groep De Jong.

DeConservatieven.nl
Later she founded the political party DeConservatieven.nl. With this party, she unsuccessfully participated in the election for the House of Representatives in January 2003. The fact that she used a "sexy" photoshoot in men's magazine Panorama as part of the election campaign is unprecedented in Dutch political history.

References
9 jaar na moord op Fortuyn: wat doen de LPF'ers nu? - De Volkskrant
Portrettengalerij LPF - De Stentor
Wat is zo'n bipolaire stoornis precies - Viva

1958 births
Living people
Members of the House of Representatives (Netherlands)
People from Hazerswoude
Pim Fortuyn List politicians
21st-century Dutch politicians
21st-century Dutch women politicians

redpajama_set_name: RedPajamaWikipedia


text:
F5 Silverline Managed Services Continues Expansion with New Point of Presence in Canada
Rob Gruening
r.gruening@f5.com
F5 expands global footprint by deploying points of presence in additional geographic locations, making security offerings available to customers in Canada
SEATTLE – F5 (NASDAQ: FFIV) today announced a new regional Point of Presence (PoP) in Canada. Today's announcement is a part of F5's global expansion of PoPs to additional geographic locations to meet growing customer demand for its Silverline managed security services.
"We are very excited to be able to better serve our Canadian customers by offering efficient and cost-effective solutions that addresses their cybersecurity challenges," said Pete Brant, Senior Vice President, Americas Sales at F5. "F5's regional PoP in Canada provides core F5 technologies as managed services that will allow our customers to protect their applications and digital innovations against the most prevalent cyberattacks without the need to hire a team of security experts."
As the risk landscape continues to expand and evolve, enterprises are often faced with challenges of legacy infrastructure and lack of appropriate skill sets to manage and mitigate different types of threats. According to a survey by the Canadian Internet Registration Authority, 71 percent of organizations in Canada reported experiencing a cyberattack in 2019. And with the adoption of the Personal Information Protection and Electronic Documents Act (PIPEDA), companies and government agencies are now specifically required to implement and manage security controls, as well as limit sensitive data from crossing Canadian borders.
"Like other developed countries, Canada is experiencing an increase in security incidents leading to business disruptions, data breaches, and fraud," said Gail Coury, VP & GM, Silverline at F5. "With a local Silverline PoP, we are excited to be able to provide our Canadian customers advanced managed security services that protect their critical applications against cyberattacks cost-effectively and efficiently without latency issues."
With its global expansion into additional regions, including Canada, Silverline Managed Services continues to provide high-value cloud-based security services, including DDoS Protection, Web Application Firewall, IP Reputation Filtering, keeping applications secure wherever they reside. F5's Silverline Managed Security Services offerings include:
Silverline Web Application Firewall (WAF): F5 Silverline WAF is a cloud-based security service built on the NSS Labs-recommended F5 BIG-IP Application Security Manager™ (ASM), with 24/7 support from highly specialised security experts to help organizations protect web apps and data, as well as ensure compliance with industry security standards.
Silverline DDoS Protection: F5 Silverline DDoS Protection is a managed, cloud-delivered protection service that detects and mitigates DDoS attacks in real-time, with industry-leading DDoS attack mitigation bandwidth to stop even the largest of volumetric DDoS attacks from ever reaching the network infrastructure.
Silverline Threat Intelligence: F5 Silverline Threat Intelligence is a cloud-based managed service that blocks malicious activity before it reaches your environment. That increases efficiency by eliminating wasted effort spent processing threat communications.
The F5 Silverline Managed Security Services offerings are now available in Canada. Please contact a local F5 sales office or email SilverlineSales@F5.com for additional product and service availability information.
To learn more about Silverline Managed Security Services, visit the Silverline page of f5.com.
F5 (NASDAQ: FFIV) powers applications from development through their entire lifecycle, across any multi-cloud environment, so our customers—enterprise businesses, service providers, governments, and consumer brands—can deliver differentiated, high-performing, and secure digital experiences. For more information, go to f5.com. You can also follow @f5networks on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.


text:
Sustainable Agriculture News Briefs - July 30, 2014
Join the NCAT Team
The National Center for Appropriate Technology (NCAT) is seeking a Sustainable Agriculture Specialist to work directly with farmers and ranchers on crop and livestock production, soil health, water quality, organic certification, and other topics. The position will be located at NCAT's San Antonio, Texas, office. Applications will be accepted through August 24, 2014, or until a suitable candidate can be identified.
Conservation Law Foundation Launches Legal Services Food Hub
Foundation for Food and Agricultural Research Announced
Farm to Childcare Curriculum Package Available
'Organic Ready' Corn-Breeding Project Progresses
USGS Reports Neonicotinoid Insecticides Widespread in Midwest Streams
Farm Aid Announces 2014 Venue
Animal Welfare Approved Good Husbandry Grants
Outreach and Assistance for Socially Disadvantaged Farmers and Ranchers and Veteran Farmers and Ranchers Program
Conservation Innovation Grants in Maryland
Harvest Conference
Fodder Production for Organic Dairy
Practical Options for Food Production Resilience in an Increasingly Variable Climate
Conservation Law Foundation (CLF) has launched the Legal Services Food Hub, a network that will connect lower-income farmers, brewers, cheesemakers, food-related organizations, and others in the Massachusetts and New England agriculture economy with pro bono legal services to help start, grow, and operate their businesses. CLF is recruiting attorneys to participate in the Legal Services Food Hub and is also accepting applications for legal assistance from farmers, food entrepreneurs, and related organizations.
Agriculture Secretary Tom Vilsack has announced the creation of the Foundation for Food and Agricultural Research (FFAR) and the appointment of a 15-member board of directors. The new foundation will leverage public and private resources to increase the scientific and technological research, innovation, and partnerships critical to boosting America's agricultural economy. Congress provided $200 million for the foundation, which must be matched by non-federal funds.
The Institute for Agriculture and Trade Policy has released a Farm to Childcare Curriculum Package that gives childcare providers a roadmap to connect young children with locally grown, minimally processed foods and the farmers who grow them. The package contains information on designing a Farm to Childcare menu and implementation schedule, recommendations on how to highlight local farmers, detailed examples of family engagement strategies, and extensive experiential learning activity suggestions.
Organic Farming Research Foundation (OFRF) reports that an organic corn-breeding project is entering its fourth year and could have early releases of open pollinated "Organic Ready" corn available later this year. Plant breeder Frank Kutka has been working to develop a line of corn that will maintain its non-GMO integrity, using naturally occurring genes derived from popcorns and the ancient grain teosinte that create a screen against crossing with transgenic corn.
A new U.S. Geological Survey study reports that neonicotinoids were found commonly in streams throughout the Midwest. Nine rivers and streams, including the Mississippi and Missouri Rivers, were included in the study, and the chemicals were found in all nine. Clothianidin was the most commonly detected chemical, showing up in 75% of the sites and at the highest concentrations, up to 257 nanograms per liter.
Farm Aid will shine a spotlight on family farmers at its annual concert, to be held in Raleigh, North Carolina, on September 13. Farm Aid 2014, an all-day music and food festival, will feature a unique lineup of artists and genres and will offer concert-goers family farm-identified, local, and organic foods. The event will feature Willie Nelson & Family, Neil Young, John Mellencamp, Dave Matthews & Tim Reynolds, Jack White and many more artists. Tickets will go on sale on August 1.
Grants are available to improve animal welfare for Animal Welfare Approved farms, farms that have completed an application to join the program, or slaughter plants that are working with an AWA farm and/or have consented to be reviewed by AWA. Funding priorities for this cycle include: improved genetics, increased outdoor access, welfare improvements in the slaughter process, and non-lethal predator control.
Application deadline is October 1, 2014.
USDA Office of Advocacy and Outreach is accepting applications to assist socially disadvantaged and veteran farmers and ranchers in owning and operating farms and ranches while increasing their participation in USDA agricultural programs and services. This program will assist eligible community-based organizations, higher education institutions, and tribal entities in providing outreach and technical assistance.
Application deadline is August 25, 2014.
USDA Natural Resources Conservation Service in Maryland is accepting applications for Conservation Innovation Grants (CIG). CIG projects are expected to lead to the transfer of conservation technologies, management systems, and innovative approaches into NRCS policy, technical manuals, guides, and references, or to the private sector. Grants up to $75,000 are available.
Applications are due by August 22, 2014.
Organic Growers School presents this event with a focus on the fall growing season, harvesting, canning, growing, gardening, energy, cooking, and more. Presentations are offered in six tracks, and there are preconference workshops.
Whitesville, New York
NOFA-NY and Organic Valley CROPP Cooperative present this free event at B-A Blessing Farm. Learn how to incorporate fodder production on your farm and hear from John Stoltzfus about how fodder is produced and fed as a part of his milking-herd ration.
September 1 or 2, 2014
Newton or Amherst, Massachusetts
NOFA Massachusetts offers two opportunities to spend the day with Dr. Christine Jones, learning about sequestration of carbon and humus development through appropriate agricultural practices.
New ATTRA Publication
Peach Diseases Identification Sheet
Can I plant figs in an unheated greenhouse in Zone 6?
Organic Certification Basics ~ August 14. NCAT offers an opportunity for Texas producers to learn the ABC's of organic certification requirements.


text:
<?php

/*
 * GENERATED CODE WARNING
 * This file was automatically generated - do not edit!
 */

require_once __DIR__ . '/../../../vendor/autoload.php';

// [START securitycenter_v1_generated_SecurityCenter_ListBigQueryExports_sync]
use Google\ApiCore\ApiException;
use Google\ApiCore\PagedListResponse;
use Google\Cloud\SecurityCenter\V1\BigQueryExport;
use Google\Cloud\SecurityCenter\V1\SecurityCenterClient;

/**
 * Lists BigQuery exports. Note that when requesting BigQuery exports at a
 * given level all exports under that level are also returned e.g. if
 * requesting BigQuery exports under a folder, then all BigQuery exports
 * immediately under the folder plus the ones created under the projects
 * within the folder are returned.
 *
 * @param string $formattedParent The parent, which owns the collection of BigQuery exports. Its
 *                                format is "organizations/[organization_id]", "folders/[folder_id]",
 *                                "projects/[project_id]". Please see
 *                                {@see SecurityCenterClient::projectName()} for help formatting this field.
 */
function list_big_query_exports_sample(string $formattedParent): void
{
    // Create a client.
    $securityCenterClient = new SecurityCenterClient();

    // Call the API and handle any network failures.
    try {
        /** @var PagedListResponse $response */
        $response = $securityCenterClient->listBigQueryExports($formattedParent);

        /** @var BigQueryExport $element */
        foreach ($response as $element) {
            printf('Element data: %s' . PHP_EOL, $element->serializeToJsonString());
        }
    } catch (ApiException $ex) {
        printf('Call failed with message: %s' . PHP_EOL, $ex->getMessage());
    }
}

/**
 * Helper to execute the sample.
 *
 * This sample has been automatically generated and should be regarded as a code
 * template only. It will require modifications to work:
 *  - It may require correct/in-range values for request initialization.
 *  - It may require specifying regional endpoints when creating the service client,
 *    please see the apiEndpoint client configuration option for more details.
 */
function callSample(): void
{
    $formattedParent = SecurityCenterClient::projectName('[PROJECT]');

    list_big_query_exports_sample($formattedParent);
}
// [END securitycenter_v1_generated_SecurityCenter_ListBigQueryExports_sync]

redpajama_set_name: RedPajamaGithub


"Moving Michigan Forward" John Nixon CPA, State Budget Director, Department of Technology, Management and Budget.
economic development and public safety needs • Meet the needs of the most vulnerable among us by investing in important safety net programs • Save for the future 4 .Accomplishments Year 3: Looking forward • Maintain structural balance • Protect education and stabilize state agency budgets • Invest in critical infrastructure.
Turning the Corner • Growing more jobs • Personal income is increasing • Home sales and prices are increasing • Our population is growing again 5 .
ranked 42nd in 2008 • Housing starts increased 22 percent in 2012 and were up 66 percent from the 2009 level • State motor vehicle production increased 17 percent in 2012. production was almost double 2009 production • The state is much stronger than it was in last decade 6 . ranked 50th in 2008 and 2009 • 2012 was second consecutive year of job expansion after 10 straight years of declines • Payroll employment growth rate was 5th strongest among the states in 2011. 46th in 2009 • Per capita income growth 7th best in nation in 2011.Michigan's Economic Turnaround • GDP growth 6th best in nation in 2011.
7 -63.1 -112.0 48.0 -16. Bureau of Labor Statistics.3 51.S.9 -9. 2012-2015 estimates are 1/11/13 Consensus Forecast.6 -7.2015 72.Michigan's Employment Expected to Increase in 2013 .2 -291. 1/25/13.8 -71.3 -58.0 36.3 -76. 7 .7 -105.6 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Michigan Wage and Salary Employment Year-Over-Year Change Consensus Forecast (In Thousands) Note: U.0 53.
1/25/13. 2013-2015.6% 2015 United States 7.S. Rate 15% 12% 9% 6% 3% 0% 2001 2005 2009 2013 Consensus Forecast Source: U. 1/11/13 Consensus Forecast. Bureau of Labor Statistics.1% 8 .Michigan's Unemployment Rate Improving Faster than the U.S. 2015 Michigan 7.
6% -6.8% 2.S.0% 1.1% 3.6% 2.Michigan Personal Income Continuing Growth in 2013 .0% 2.0% 3.3% 4. 9 .4% 2. 1/25/13.3% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Michigan Personal Income Year-Over-Year Change Consensus Forecast Note: U.8% 2.6% 3. 2012-2015 estimates are 1/11/13 Consensus Forecast.7% 2.2015 5. Bureau of Economic Analysis.4% 4.5% 1.
000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Sources: U.000 30.000 40.000 50.000 10. 1/11/13.000 20.Michigan Housing Starts Are Rebounding 60.S. Treasury Forecast 10 . Bureau of the Census & Treasury Forecast.
" 11 .People Are Taking Note April 2. 2013: • Fitch Ratings upgraded Michigan's general obligation credit rating to AA • Standard and Poor's upgraded Michigan's credit outlook to "positive" • Moody's upgraded Michigan's bond rating from stable to positive Fitch said the upgrade reflects "the state's solid economic and fiscal recovery over the last two years.
7 Billion Health and Human Services $22.1 Billion Education $15.9 Billion 12 .6 Billion Budget Stabilization/ Health Savings Fund $178 Million Jobs $6.1 Billion Environment $922 Million Government Services $2.3 Billion Total Gross: $50.Total FY 2014 Budget Recommendation Public Safety $3.
Total New GF/SAF Investments in FY 2014 Budget Budget Stabilization/ Health Savings Fund $178M 30% Jobs $84.5M 14% Health and Human Services $27M 5% Public Safety $52.6M 9% Environment $14.1 Million 13 .4M 9% Education $187.7M 31% Total: $596.9M 2% Government Services $51.
measure and reward real results • Invest and save ― Short term and urgent ― Long term and important • Paying and lowering our bills ― Retirement  Michigan Public School Employees Retirement System  Michigan State Employee Retirement System ― Updating old.Budgeting Responsibly • Invest and save wisely ― Live within our means ― Prioritize to make a difference ― Ask for. outdated and worn assets 14 .
Investing in the Future • • • • • • • • Infrastructure Education Medicaid expansion Health improvements Jobs People Public safety Quality of life 15 .
rail. bridges. harbors • 16 . public transit.2B more per year in our road infrastructure Four layers to a common-sense outcome ‒ Make regular payments to avoid huge bill ‒ Save on vehicle repair costs ‒ Grow the economy by creating jobs ‒ Save nearly 100 lives per year Roads.Driving the Economy Forward • • Invest $1.
Investing in Our Roads $25B Gap 17 Source: OEI. RMF – 07/27/12 .
1B from state) 18 .Creating a P-20 Educational System • More seamless system – Student growth – Careers or self-enrichment • Three tiers – Early childhood – K-12 – Higher education • Total $15B investment ($13.
625 • 2015 investment – adding $65M more – Creating an additional 18.000 new placements – Increased funding per slot from $3.Early Childhood – Major New Investment • $130M investment over the next two years ‒ More than double the 2011 investment • 2014 investment .$65M total – Creating 16.400 to $3.000 placements • Value added to all 19 .
100 Placements $239.100 Placements $174.3 M $0 FY10 FY11 FY12 FY13 FY14 Rec FY15 Rec Reflects State Appropriations and Number of Half-Day Preschool Placements 20 .100 Placements 28.000 66.7 M $98.900 Placements 30.3 M $109.000 $95.Investing in Our Children Early Preschool Funding Will Double by FY 2015 with $130M Investment over Two Years $250.3 M $50.3 M Appropriations (in thousands) $150.000 28.3 M $104.000 Placements $200.000 48.700 Placements 32.000 $100.
000 per pupil) • Continues performance and best practices funding. as well as technology grants • Supports online courses 21 .2B for K-12.5B of state funds.K-12: Continuing Focus on Student Growth • $13. including $11. an increase of $227M • Includes an equity payment to further close the foundation allowance funding gap ($24M to raise the lowest funded districts to $7.
000 $0 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 22 .000 $3.000 $1.000 $2.208 $7.357 $6. adult education funding.K-12 Per-pupil School Aid Appropriations .000 Michigan Public School Employees' Retirement System Best Practices/ Performance Funding All Other Categorical Funding Special Education Basic Operations NOTE: Does not include federal funding.000 $6.622 $6.FY 2010 to FY 2014 $8. or deposits made into the MPSERS reserve fund $5. preschool funding.000 $4.000 $7.971 $7.818 $6.
8 B Before Reform $13.1 B After Reform Before Reform After Reform 23 .200 per resident and more than $10.1 B $20 $10 $- $18.000 per student Total Estimated Liabilities for MPSERS Both Pension and Healthcare Total Estimated Liabilities for SERS Both Pension and Healthcare $50 $40 $ in Billions $50 $40 $30 $ in Billions $30 $20 $10 $- $46.7 B $31.Retirement Reforms • Long-term results: savings of $2.
• Savings from reforms equal $482M or $315 per K-12 student in FY14 • FY14 funding recommendation is an increase of $436M or $250 per K-12 student • These two actions translate into $918M or $565 per student in FY14 24 .
a $31.9M for performance formula funding – $1.8M increase for performance formula funding – $31.1M increase for MSU's Ag Bio Research and Extension • Total funding of nearly $336M for community colleges – $5.Higher Education • Total funding of $1.4M increase – An increase of $24.4M for retirement costs – $1.4B for universities.1M for the Virtual Learning Collaborative • Capital investment challenges for FY 2015 25 .
more ER visits Simpler and better for families. providers and small business Reserve one-half of short-term savings to cover future costs and reduce federal risks 26 .Expanding Medicaid • • • • Work toward better care at lower cost to society Critical issue is having patient-centered medical home vs.
Cumulative Deposits into the Health Savings Fund Will Finance Medicaid Expansion for the Next 21 Years $700 $600 $500 $400 $300 $200 $100 $0 -$100 FY 2014 *in millions FY 2016 FY 2018 FY 2020 FY 2022 FY 2024 FY 2026 FY 2028 FY 2030 FY 2032 FY 2034 Cumulative Deposit into HSF General fund cost 27 .
000 kids $120.500 more children ― Additional 100.000 kids 186.0 $40.000 kids 285.0 $100.0 117.000 kids 440.6M to expand Healthy Kids Dental to reach 70.000 children in FY 2015 Healthy Kids Dental Program Has Increased Access to Dental Care for Michigan Children $140.0 $60.000 kids 80 counties * In millions $80.Making Dental Health a Priority • $11.0 610.0 $FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 Exec Exec 59 counties 61 counties 37 counties Rec Rec 28 .0 510.000 kids 78 counties 75 counties 65 counties $20.000 kids 336.
2M to continue and expand Pathways to Potential Currently in 124 public schools ‒ Detroit ‒ Flint ‒ Pontiac ‒ Saginaw 29 • .Improved Services to People • Paving the path to independence ‒ $6.
Honoring Our Veterans • $8.6M for a new innovative Veterans' Service Delivery Initiative ‒ Create a new agency to focus directly on veterans' services • 600.000 to add an additional five qualified service officers to connect veterans with services 30 .
5M for blight elimination and $4M for "Good Neighbor" property maintenance 31 .Making Michigan Safer • Increase strength of Michigan State Police ranks ‒ Trained 78 troopers in FY 2012 ‒ Anticipate training 152 troopers during FY 2013 ‒ $15.2M to train 107 troopers in FY 2014 • $2M for mental health courts • $3M for treatment courts • $9.
Long-term Savings • • • • • One-time surplus funds Important for Michigan's ratings Rainy Day Fund Michigan Health Savings Fund Disaster and Emergency Contingency Fund 32 .
2 2010 $2.3 $0.2 $1.000 Millions $800 $580.1 2007 Fiscal Year $2.0 2004 2005 $2.0 $2.1 $365.264.History of the BSF The Budget Stabilization Fund (BSF) peaked at $1.1 $600 $400 $200 $145.2 2009 $2.2 $81.4 $1. $1.400 $1.2 2011 2012 2013 2014 Projected Projected $0 2000 2001 2002 2003 33 .200 $994. Michigan has started to rebuild the BSF balance in FY 2012 and projects that the balance will be approximately $580 million by the end of FY 2014.3 billion in FY 2000 but was quickly depleted.2 2008 $2.0 2006 $2.1 $505.
He was also one of Government Technology Magazine's Top 25 Doers. Nixon is a Certified Public Accountant. Nixon holds a BS degree in Corporate Finance from Brigham Young University and an MBA with an emphasis in Information Technology from the University of Utah. Reporting directly to Governor Snyder. he is responsible for overseeing the state budget. with the vision of making the State of Michigan one of the most innovative and responsive governments in the world. He was named Public Official of the Year by Governing Magazine in 2012. Nixon heads an agency of 2. leading the department's mission of providing vital administrative and technology services to enable Michigan's reinvention. three boys and three girls.700 employees. . Management and Budget (DTMB). He served as President of the National Association of State Budget Officers (NASBO) in 2010. where he graduated as a member of the Phi Kappa Phi and Beta Sigma Honors Societies. and the administrative functions of state government. Nixon. CPA State Budget Director Director. having previously served as Utah's budget director for Governors Jon Huntsman and Gary Herbert.John E. government technology. Nixon and his wife DeAnn have six children. Michigan Department of Technology. Dreamers and Drivers in 2012. Management and Budget John Nixon serves as the State Budget Director and Director of the Michigan Department of Technology.