Educational Finance – End Grade Inflation http://endgradeinflation.org/ Wed, 20 Oct 2021 14:49:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://endgradeinflation.org/wp-content/uploads/2021/06/icon.png Educational Finance – End Grade Inflation http://endgradeinflation.org/ 32 32 The U.S. Public University System Partners with California Community Colleges to Help More Students Obtain Affordable Bachelor Degrees Online at American Public University and American Military University https://endgradeinflation.org/the-u-s-public-university-system-partners-with-california-community-colleges-to-help-more-students-obtain-affordable-bachelor-degrees-online-at-american-public-university-and-american-military-univer/ Wed, 20 Oct 2021 14:02:00 +0000 https://endgradeinflation.org/the-u-s-public-university-system-partners-with-california-community-colleges-to-help-more-students-obtain-affordable-bachelor-degrees-online-at-american-public-university-and-american-military-univer/ Agreement highlights shared commitment to provide accessible, inclusive and relevant higher education CITY OF CHARLES, W.Va., 20 October 2021 / PRNewswire / – American Public University System (APUS) and the Office of the Chancellor of California Community Colleges have signed an agreement allowing graduates to California Associate’s Degree for Transfer (ADT) programs from 116 community […]]]>

Agreement highlights shared commitment to provide accessible, inclusive and relevant higher education

CITY OF CHARLES, W.Va., 20 October 2021 / PRNewswire / – American Public University System (APUS) and the Office of the Chancellor of California Community Colleges have signed an agreement allowing graduates to California Associate’s Degree for Transfer (ADT) programs from 116 community colleges to seamlessly transition to APUS as a junior – without loss of credit. These students can pursue their bachelor’s degree online in one of 38 different academic tracks at the American Military University and the American Public University of APUS.

US Public University System (PRNewsfoto / US Public University System)

Under the MoU, eligible individuals Californian community University graduates – those who earned their Associate of Arts degree for transfer or Associate of Science degree for transfer – now have the opportunity to earn a relevant, high-quality bachelor’s degree online at APUS. The 38 tracks include many popular programs including criminal justice, accounting, business administration, entrepreneurship, hotel management, public health, sports and health sciences, information technology and space studies, among others.

“We are thrilled to offer so much depth and choice to graduates of California community colleges so that they can pursue their goal, ”said APUS President Dr. Wade Digue. “This agreement reinforces our long-standing commitment to helping learners of all backgrounds succeed while maximizing the return on their educational investment.”

Having obtained an associate’s degree, Californian community College students will only need an additional 60 credits to earn a bachelor’s degree at APUS. Since APUS accepts up to 90 transfer credits, these students may be able to apply an additional 30 credits to the more than 220 APUS diplomas and certificates beyond their associate degree.

“The California Community College System is delighted to offer our students the added flexibility to pursue their bachelor’s degree from any location while attending APUS,” said Acting Chancellor of California Community Colleges. Marguerite Gonzales. “As we continue to deal with COVID-19, our students have an additional transfer option to continue their education online at an institution that will help them prepare for the labor demands of our state and our region. nation and who is strongly dedicated to student success just like we are. “

Data from the United States Bureau of Labor Statistics shows that American workers with an associate’s degree in 2020 earned a median salary of $ 55,870, or about $ 17,000 more than those with a high school diploma or equivalent, while workers with a bachelor’s degree earned a median salary of $ 78,020.

About the American public university system
American Public University System, recipient of the Online Learning Consortium (OLC) Gomory Award for Quality Online Education and five-time OLC Effective Practice Award recipient, offers over 200 degree and certificate programs in online through American Military University, the # 1 provider of higher education to the U.S. military and veterans *, and American Public University. Approximately 110,000 alumni worldwide have benefited from APUS’s accessible and relevant curriculum and flexible online delivery model. APUS is a wholly owned subsidiary of American Public Education, Inc. (Nasdaq: APEI). For more information, visit www.apus.edu.

* Based on Department of Defense tuition assistance for fiscal year 2019 and Veterans Administration student enrollment data as reported by Military Times, 2020.

CONTACTS
Franck Tutalo
Director of Public Relations
FTutalo@apei.com
571-358-3042

Cision

Cision

View original content to download multimedia: https://www.prnewswire.com/news-releases/american-public-university-system-partners-with-california-community-colleges-to-help-more-students-obtain -affordable-online-license-at-American-Public-University-and-American-Military-University-301404673.html

SOURCE American public university system

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World Travel Holdings and its brands win six Travel Weekly Magellan Awards 2021 https://endgradeinflation.org/world-travel-holdings-and-its-brands-win-six-travel-weekly-magellan-awards-2021/ Tue, 19 Oct 2021 07:05:00 +0000 https://endgradeinflation.org/world-travel-holdings-and-its-brands-win-six-travel-weekly-magellan-awards-2021/ Innovative virtual events, marketing programs, training and resources created in the aftermath of COVID-19 are rewarded with gold and silver WILMINGTON, Mass., October 19, 2021 / PRNewswire-PRWeb / – World Travel Holdings and its Dream Vacations, CruiseOne and Cruises Inc. brands were recognized again this year by Travel Weekly. When the COVID-19 pandemic hit, the […]]]>

Innovative virtual events, marketing programs, training and resources created in the aftermath of COVID-19 are rewarded with gold and silver

WILMINGTON, Mass., October 19, 2021 / PRNewswire-PRWeb / – World Travel Holdings and its Dream Vacations, CruiseOne and Cruises Inc. brands were recognized again this year by Travel Weekly. When the COVID-19 pandemic hit, the company quickly launched creative programs to support its agent network in new ways.

“I am so proud of how our teams quickly shifted gears and did not fail to support our agents in the most difficult time in our industry for them, both personally and professionally,” said Debbie fiorino, senior vice president and COO of World Travel Holdings. “World-class communications and resources, creative virtual events, ambitious marketing and innovative training have given our agents the tools they need to serve their customers during the pandemic. It is truly an honor to be recognized as the best of the best in the travel industry with these Magellan Awards. “

Gold winners

Take Me Away Virtual Vacation Experience was a reimagining of Dream Vacations, CruiseOne and Cruises Inc., the long-standing virtual cruise events, as there was a need to not only provide vacation inspiration, but also to ensure that the name of the event was global. land vacations. As part of the relaunch, travel counselors were given a landing page on their websites with unique event registration links giving them a real-time snapshot of who signed up and attended so they could keep track of their clients.

The Travel Safety Program provides agents at Dream Vacations, CruiseOne and Cruises Inc. with resources to generate enthusiasm for cruises and travel, as well as training in travel safety protocols. A travel safety program landing page is featured prominently on their individual website homepage and promoted in consumer emails. The landing page educates and informs visitors about safe and healthy travel and includes Travel Safety Guide, Sea Safety, Air Travel Safety Guide, Resort Travel Safety Guide, and videos. Marketing and promotional assets allow our agents to position themselves as community experts for safe travel in a COVID-19 world and to educate consumers on the health and safety measures to be expected during a travel.

The virtual national conference was created in 2020 for Dream Vacations, CruiseOne, and Cruises Inc., as the week-long annual event could not take place on a ship when the cruise was closed. This event lasted four days, featured celebrity guests and replicated the onboard experience in terms of content and engagement, creating a more personalized experience for attendees. Highlights included general sessions; presentations from CEOs of almost all the major cruise lines; educational workshops; cruise line entertainment; engaging interactive activities such as wine tastings, mixology demonstrations and cooking classes; and even a virtual walk / run for the benefit of Make-A-Wish® which raised more than $ 50,000.

Silver Winners

The value of a travel counselor is more important than ever due to the pandemic. So even when travel stalled, the marketing team at Dream Vacations, CruiseOne and Cruises Inc. developed campaigns designed to keep travel counselors front and center with their clients while being aware of the COVID environment. . This included a series of fully funded direct mail postcards promoting the value of a travel counselor and making clients dream (and book) about future vacations, which helped build relationships and trust. .

The Travel Safety Training Program is a training program that was created to make advisors from the nearly 40 brands of World Travel Holdings the most knowledgeable in the industry when it comes to safe travel in a world COVID-19. Through this program, advisors have gained confidence and knowledge when advising their clients on this complex subject, and increased credibility with consumers. At the end of the training, travel counselors become Travel Safety Verified.

COVID-19 Crisis Communications was critical during the pandemic, so the World Travel Holdings communications team kept their finger on the news and emailed their first-ever ‘coronavirus news alert’ to employees and staff. advisers. January 29, 2020, two months before the closure of our industry. Since then, the team has sent out urgent news alerts daily to keep agents and employees informed of cancellations, policy changes, government shutdowns, and more. Complex information is dissected and broken down so that it is easy to understand. In addition, the team provides talking points for advisors to speak to clients and the media.

The Magellan Awards recognize outstanding design, marketing and service across a wide range of industry segments, including hospitality, travel destinations, cruise lines, online travel services, airlines and airports, travel agents and agencies, tour operators and ground transportation.

“Each year, we recognize industry innovators and creative communicators through our Magellan Awards. This year, we recognize the resilience, ingenuity and the way forward created by those who shared their business initiatives through words, images and design, and kept the journey in conversation and part of the equation, ”said Arnie weissmann, editor of Travel Weekly. “We salute everyone who entered and everyone who won.”

The Magellan Awards are judged and overseen by a unique panel of travel professionals representing the best names and the most accomplished leaders in the industry. To determine winners, entries do not compete against each other, but rather are judged against a standard of excellence based on Travel Weekly’s long experience. To maintain this high level of excellence, a category may have multiple winners, or even no winners.

For a full list of Silver and Gold winners, please visit http://www.travelweeklyawards.com.

About World Travel Holdings
World Travel Holdings is the nation’s largest cruise company and an award-winning leisure travel company with a portfolio of over 40 diverse brands. In addition to owning some of the biggest brands distributing cruises, villas, resort vacations, car rentals, day passes and luxury travel services, World Travel Holdings has an extensive portfolio of partnerships. brand made up of the best providers of leisure travel, including nearly all American Airlines, major hotel brands and large corporations. The company also operates a premier travel agency franchise and home travel agency in the country and is regularly recognized as a leader in the work-from-home industry. Its global presence includes the operation of several cruise brands in the UK. World Travel Holdings has offices in Wilmington, Mass.; Ft. Lauderdale, Florida.; and Chorley, England. For more information, visit WorldTravelHoldings.com.

About Travel Weekly
Travel Weekly is the most influential provider of news, research, opinion and analysis on the North American travel market. It reaches a large industry audience in print, online and with face-to-face events throughout the year. Travel Weekly is a division of Secaucus, Northstar Travel Media, based in New Jersey, is the world’s largest publisher of business travel.

About Northstar Travel Group
Northstar Travel Group is the leading B-to-B information and marketing solutions company serving all segments of the travel industry including leisure / retail, business / business travel , corporate and sporting meetings, incentives, hotels and travel technology. Northstar owns major brands serving these travel segments. The company hosts more than 100 face-to-face events in 13 countries in the areas of retail, hospitality, business travel, travel technology, sports travel and the travel industry. meetings and incentive. In addition, Northstar owns Phocuswright, the leading research and events producer serving the travel technology industry. Northstar Travel Group owns the BHN Group, the leading producer of hotel investment conferences. Northstar is also the majority shareholder of Inntopia, the leading SaaS e-commerce software company serving the mountain destination, golf, activity and hospitality markets. Situated at Secaucus, New Jersey, the company has 7 offices in USA, UK, Singapore, and China. Northstar Travel Group is owned by funds managed by EagleTree Capital.

Media contact

Angie ranck, World Travel Holdings, 1-877-958-7447, media@wth.com

SOURCE World Travel Holdings

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Within the financing and expansion plans of the Aprende Institute https://endgradeinflation.org/within-the-financing-and-expansion-plans-of-the-aprende-institute/ Mon, 18 Oct 2021 04:07:42 +0000 https://endgradeinflation.org/within-the-financing-and-expansion-plans-of-the-aprende-institute/ Aprende Institute, an EdTech platform for the Spanish-speaking population, has just closed a US $ 22 million investment round. Portada spoke to Martin Claure, CEO of the Aprende Institute, about Ed Tech company’s growth plans and the opportunities he sees in the high-growth US Hispanic market. Small business owners, known as solopreneurs, are a vital […]]]>

Aprende Institute, an EdTech platform for the Spanish-speaking population, has just closed a US $ 22 million investment round. Portada spoke to Martin Claure, CEO of the Aprende Institute, about Ed Tech company’s growth plans and the opportunities he sees in the high-growth US Hispanic market.

Small business owners, known as solopreneurs, are a vital backbone of the US economy. This is even more the case of the American Hispanic market, which over-indexes for entrepreneurship. Based on the growth potential of the Hispanic US market, investors have just completed a US $ 22 million investment round in the Aprende Aprende Institute Funding and Expansion Institute, a platform of vocational training focused on the professional development and economic advancement of the Spanish-speaking population.

The Aprende Institute has enrolled more than 70,000 students in the past two years providing a high quality, flexible and affordable solution to acquire highly demanded professional skills in entrepreneurship, beauty and fashion, gastronomy, trades and wellness. Martin Claure, CEO of the Institut Aprende, tells Portada that the Aprende Institute Learning Programs offer hands-on 3-9 month programs that are developed for people who have a passion or interest and want to monetize it. “It is about economic advancement and personal fulfillment in order to give them the means to become an entrepreneur,” says Claure. These solopreneurs or future solopreneurs need both technical and general skills, including knowledge of understanding costs, setting price levels, using social media to build customer base, or management expertise.

According to Claure, the new funding will allow the Aprende Institute to attract top talent in all fields, further improve educational offerings and expand services to businesses and institutions to stimulate growth. “We develop courses in marketing, sales, negotiation, finance and other value-added services specially designed for our students to acquire the business and general skills necessary for business success,” explains Claure.

An online community college experience

The courses of the Aprende Institute are 100% online. “We produce the content and provide our students with on-demand access to experts. The experts moderate the conversations and there is also the evaluations throughout the program where students are asked to complete certain tasks. In addition, there are 200 live lessons per month. According to Claure, these live lessons foster a sense of community and peer learning.

Aprende Institute
Martin Claure, CEO of the Institut Aprende

The price classes range from US $ 30 to US $ 100 per month. The Aprende Institute has so far enrolled 70,000 students, of which 30,000 are currently studying. “In 2022, we want to educate 150,000 students,” says Claure. The funding will allow the Aprende Institute to continue its growth in the American Hispanic Market, its biggest market.
The Aprende Institute was started in Mexico and also has a significant number of students in Colombia, but between 70% and 80% of its students are in the United States.
To attract even more Hispanic American students, the Aprende Institute has partnered with Univision, which is also an investor in the New Round of Investment. Univision will make its product offering more widely accessible to the Hispanic American community. “We are going to build a learning channel with Univision,” notes Claure. They will advertise our products on their various platforms and we will provide our experts to Univision for them to use in their programming.

“Spanish-dominated Hispanics are the largest and most underserved demographic in the tech space. There are approximately 30 million Spanish speaking consumers in the United States. All courses and content are in Spanish, although Claure notes that he plans to partner with an English content provider at some point.

Spanish-dominated Hispanics are the largest and most underserved demographic in the tech space. There are approximately 30 million Spanish speaking consumers in the United States.

Marketing of the Aprende Institute

Until recently, Aprende Institute’s marketing revolved around performance marketing, primarily through the use of Facebook, Youtube and Google. Now with the Univision partnership, Claure hopes to gain more notoriety through offline marketing, including the activation of TV spots. A key part of its marketing for the future, says Claure, is to partner with companies that have small businesses as their primary target consumers.
As an example, Claure cites a partnership with the manufacturer of industrial tools and household hardware Stanley Black & Decker. The Aprende Institute will build a training and advancement platform for the Stanley Black & Decker ecosystem. The platform will include instructors and coaches. “Training is an extremely powerful tool for companies to position their brands and retain the various players in their value chains. It is also a very effective tool for organizations and institutions that promote social responsibility programs aimed at improving employability and entrepreneurial skills, ”notes Claure.

Investors in the Aprende Institute

The US $ 22 million investment round was led by Valor Capital Group and included participation from former investor Reach Capital. AStrategic and financial investors such as ECMC Group, Univision, Angel Ventures, Capria, Endeavor Catalyst, Artisan Venture Capital, Matterscale, Salkantay Ventures, 500 Startups, The Yard Ventures, Claure Group and a select group of angel investors. The new funding brings the total raised by Aprende to date to $ 27 million. “At Valor, we bbelieve in the transformative potential of education. We have already invested in companies that have radically changed not only markets but also people’s lives through more inclusive education, ”says Antoine Colaço, Managing Partner of Valor Capital Group. “Aprende Institute caught our attention because it is a social enterprise which, thanks to technology, helps a large number of people to find their true vocation and to seize better opportunities,” he adds.

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Learn how to grow and save your money with The Student Finance https://endgradeinflation.org/learn-how-to-grow-and-save-your-money-with-the-student-finance/ Sat, 16 Oct 2021 19:24:00 +0000 https://endgradeinflation.org/learn-how-to-grow-and-save-your-money-with-the-student-finance/ It is of great concern that the financial situation of students pursuing higher education in India is becoming increasingly deplorable as the number of students passing IITJEE continues to increase. The fee structure is also increasing day by day. Students find it very difficult to bear the heavy financial burden. Student finance is one of […]]]>

It is of great concern that the financial situation of students pursuing higher education in India is becoming increasingly deplorable as the number of students passing IITJEE continues to increase. The fee structure is also increasing day by day. Students find it very difficult to bear the heavy financial burden. Student finance is one of the most important topics for students. It helps all students understand how they can study with financial expense.

The main goal of student finance is to help students understand their financial capacity, take out loans based on it, and educate them on the repayment process. Student Finance was founded on May 20, 2021 by Hitesh Parmar. We focus on finance topics and try to make difficult money topics easier for our visitors to understand. This site is dedicated to student finances. However, we also cover a variety of financial and money related matters to help other readers. Learn how to grow, save, invest and manage your money with The Student Finance.

Student attitude:

Due to the exhaustion of the family’s financial situation, parents are doing their best to educate their children. They want their children to be educated and enlightened as much as possible. However, due to a lack of funds, it is becoming increasingly difficult for parents to cover the costs of educating their children. Therefore, students are required to find ways of coping with this financial burden on their own. Taking inspiration from the affluent student community like NRIs and international students, our student community should wake up and try to generate funds on its own.

reer choice:

Students are required to properly analyze career prospects before accepting such a job which will not pay them. Doing jobs like tour guide, hotel management, etc., does not pay them adequately. If they are in software engineering positions in multinationals, they cannot rely solely on the company. They must also take private lessons. Therefore, parents should educate their children to undertake such careers which will pay them financially in the future.

  • With the rising tuition fees, studying in private institutions is becoming extremely difficult and unaffordable for most students, especially those in the economically weaker sections. Parliament is deliberating on the opening of more and more private higher education establishments. State governments are also opening new medical schools to provide quality education at subsidized rates. If this trend continues, it will further erode the merit of admissions leading to substandard medical or engineering graduates. Parliament should try to find ways in which admissions can be made more transparent, fair and merit-based.

University students generally face financial difficulties.

They have to pay high tuition fees, buy books and incur miscellaneous expenses. To meet expenses, they often borrow money from friends or through bank loans, resulting in increased debt burden.

Since most students still depend on their parents for financial aid, it is possible for them to manage their expenses better. They can save money by following simple budgeting steps, understanding bank loans, and avoiding unnecessary expenses. The only solution is to reduce the amount of expenses. Try these seven easy steps and save money as a student in India:

  1. Make budgeting easy. Students are able to make the most of their income by planning how they will use the available resources. For example, they can plan their weekly groceries rather than buying everything at once, which can lead to waste. They should also know the different categories of expenses they incur and plan accordingly. This method of budgeting will help them save around 400-500 INR per day.
  2. Limit the use of the ATM card. It is advisable to withdraw cash only when necessary and to avoid excessive use of an ATM card as the money will be deducted as a service charge. They can use digital transactions or online banking to withdraw money for their daily needs.
  3. Avoid using credit cards. Since credit cards have a higher interest rate than debit cards, it is best to avoid them until you are absolutely sure that you will not be able to repay the amount owed on time. .
  4. Avoid taking loans. Taking out high interest rate loans can put pressure on repayment. This can make it difficult for students to manage other expenses. So, rather than taking out a loan, they should work part-time and save money in the form of bank deposits that will help them repay their loans easily.
  5. Save money regularly. Students are often tempted to spend their savings prematurely due to the low temptation to buy things on sale. They can avoid this by saving regularly each month using the money they save after budgeting so that it can help them meet any unforeseen expense.
  6. Manage their family’s expenses. Students are often tempted to spend on their families. Therefore, whenever possible, they should manage their expenses themselves rather than participating in every expense.
  7. Do not delay in financing. Funding is important to complete their education. They should do it on time instead of delay.
  8. Avoid going on credit. Students often take loans to buy home appliances and electronics that they can actually do without. This habit lowers the credit score and they may not be able to take out a loan for future expenses.
  9. Avoid unnecessary expenses. Students should avoid purchasing luxury clothing, shoes and other personal items on credit. Instead, they can buy them through digital transactions or when they receive their stipend / salary for the following month.
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Shelton BOE member calls Eldridge comments “irrelevant” https://endgradeinflation.org/shelton-boe-member-calls-eldridge-comments-irrelevant/ Fri, 15 Oct 2021 16:54:24 +0000 https://endgradeinflation.org/shelton-boe-member-calls-eldridge-comments-irrelevant/ Recently, I heard a replay of the Oct. 5 radio interview on WICC, The Lisa Wexler Show, with Shelton mayoral candidate David Eldridge. The topics covered concerned Shelton, his growth, the education system and his positions on each. The dossier of outgoing mayor Lauretti was also discussed as expected in this type of format. I […]]]>

Recently, I heard a replay of the Oct. 5 radio interview on WICC, The Lisa Wexler Show, with Shelton mayoral candidate David Eldridge.

The topics covered concerned Shelton, his growth, the education system and his positions on each. The dossier of outgoing mayor Lauretti was also discussed as expected in this type of format. I believe the mayor’s work over the past 15 years speaks for itself and the growth and development he has guided make Shelton a great place to live, work and thrive.

In this interview, I believe Mr. Eldridge crossed the line in his references to some members of the Republican Board of Education. His description that members of the mayor’s team “do not have the best interests of the school system at heart” is totally false and inaccurate. He further states “that a good percentage of the members are builders”. Does he imply that the two members of the board of directors of the builders / developers are unable to make decisions in the best interests of the children?

One of the builders, Amy Romano, is also a developer, interior designer and mother of three, with two children currently attending Shelton Schools. Amy is involved in all of the board’s activities, especially programs and finances. She is also secretary of the board of directors.

I am the other listed builder and as a developer / engineer and longtime Shelton resident, I am also proud of my profession and to have served my town as a volunteer on every building committee for the renovation or construction of schools through the system. As a member of the board of directors, I gladly chair the buildings, land and transport committee.

The rest of the team have their own professional passions. To say that “you question their sincerity and what their efforts are” is a complete insult.


Kathy Yolish, board chair, has over 35 years of teaching experience in the school system and 12 years on the board. She is available daily to answer all of our questions and takes the pulse of the central office administration as well as all full and secondary board committees. She is visible at most school functions and spends 25 to 30 hours a week at work, clearly showing her dedication to children and the community.

Vice President James Orazietti is a passionate public servant and a longtime resident of Shelton. He takes great pride in his years of volunteering as a youth coach in a variety of sports. He has served on several construction committees and served on the board of directors for several terms. James is president of finance and vice president of buildings, land and transportation – always emphasizing discipline, fiscal responsibility and transparency.

Carl Rizzo, our other member, is also a long-time resident. He is an electrical engineer and an information technology consultant. His passion for Shelton is evident in his many years of coaching youth baseball.

Under his watchful eye, Carl is able to use his expertise in monitoring technology upgrades and the many updates and enhancements that are currently being implemented.

Mr. Eldridge, I respect your career choices and those of my colleagues across the way. All are admirable in themselves, but respect is a two-way street.

My colleagues are the “people who put their lives in the system”. There are many things we’ve worked on over the past two years, including dealing with a pandemic – the biggest challenge of all time. But we have done it voluntarily and in collaboration and we will continue to face the challenges that will come before us.

We are working for the best of Shelton, the children of our families, friends and neighbors. We work tirelessly – always looking for ways to improve the educational experience of children – our children. We do not and never will leave our brains at the door.

John K Fitzgerald is a Republican member of the Shelton Board of Education.

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Candidates for election – City Council https://endgradeinflation.org/candidates-for-election-city-council/ Thu, 14 Oct 2021 10:17:49 +0000 https://endgradeinflation.org/candidates-for-election-city-council/ Name: Philippe T. Gagnon Jr. Address: 91 Gordon Farms Road Education: Master of Commerce, Bachelor of Economics, Bachelor of Business Administration Personal informations: Married with three school-aged children. Use: Senior Credit Officer – Vice President, recipient of the National Industry Award for Innovation in Banking from NACHA. Political and community experience: Currently; member of the […]]]>

Name: Philippe T. Gagnon Jr.

Address: 91 Gordon Farms Road

Education: Master of Commerce, Bachelor of Economics, Bachelor of Business Administration

Personal informations: Married with three school-aged children.

Use: Senior Credit Officer – Vice President, recipient of the National Industry Award for Innovation in Banking from NACHA.

Political and community experience: Currently; member of the school committee, member of the Gorham revolving loan fund – vice-president, formerly; chairman of city council, vice chairman and various committees, Gorham Economic Development Corp. Community; Gorham Celebration Committee of Incorporation 2011 (Gorham Founders Festival – Founder), Big Brothers Big Sisters Board of Directors.

Why are you running for office and how will your experience benefit City Council?

The need for leadership and thoughtful guidance for our needs in the capital, at the city and school levels, will require someone with my experience and desire for responsibility. I defended the creation of the facilities committee when I was part of the school board, I pleaded for a joint collaboration with the city council and I await the presentation of the study on the facilities this fall. An example of how I am a pragmatic and solution oriented leader; With the full support of the school board, I was able to find a solution during Covid to use the municipal building to bring students back to high school as a campus. As a city, we will continue to grow, which means we need to better plan for this growth. I focused on sustainable growth while on the school board and feel I can continue to move Gorham forward with my return to city council.

What do you think are the major issues in our community and how could they be addressed?

The challenge for any community is to retain its uniqueness, while meeting the needs of a constantly growing city. Our village centers and commercial areas should be a priority to attract businesses and diversify our tax base. Gorham is at a crossroads with residential growth, which is straining our capacity within our school system. The need to address and defend what Gorham can afford in expanding schools, at all levels, should be the primary focus. As a former member of the high school construction committee, I am in a good position to help move these projects forward. As a former city councilor and president, I have sought committees to expand our conservation and trail efforts, expansion and improvement of the Little Falls fields and the community center, while minimizing the impact on our property taxes. I continue to believe that a tax, no matter how noble its original intention, is always a burden on its citizens.


Name: Lee pratt

Address: 16 Elliott Road

Education: Cheverus 2000 High School, Husson University 2004, BS Business Administration with a concentration in Finance

Personal informations: I am a long time resident of Gorham. My wife Nicole and I are raising two children, Colby and Maci, who attend the Gorham school system.

Use: CFO ODAT Machine Inc. in Gorham Industrial Park

Political and community experience: I am currently president of the municipal council. While on the board, I served on the finance committee, the jetport noise reduction committee, the chair of the capital improvement committee, the chair of the industrial park steering committee and as a liaison. acting with the Gorham Economic Development Committee. I was also recently appointed to represent Gorham on the Cumberland County Finance Committee. I sat on the town planning council for four years. While on the planning board, I served on the ordinances committee. I like to train young athletes in my free time.

Why are you running for office and how will your experience benefit City Council?

I am looking to be re-elected to the city council because I love this city. My family has been rooted in this community since 1856. I cherish our community and I want it to remain that way: a community. I also run a business based in Gorham and have children in the Gorham school system which gives me a unique perspective on financial matters. I chair the industrial park steering committee and would like to see this until the final approval and sale of the lots. I was also recently appointed to the Cumberland County Finance Committee to represent Gorham, which requires an elected official to fill this position. I like working with all municipal departments and finding solutions to the problems that arise in our city.

What do you think are the major issues in our community and how could they be addressed?

The biggest problem affecting our city is the relationship between residential growth and business growth. We need to make it known that Gorham is open and working for our businesses. I have worked diligently with companies organizing meetings during the pandemic, sponsoring items to help increase funding options, and shifting the economic director from part-time to full-time. Residential growth can also be managed by encouraging growth with the least impact on our school system, such as homes 55 and over and mixed-use buildings where you attract a population with the least impact.

Another problem that I have found is that citizens feel their voice is not being heard. Anyone who has contacted me has received a response, usually in the form of a phone call. I believe people deserve the respect to have their questions answered, because that’s what elected officials
are there for. I believe in open communication with my fellow citizens, I enjoy hearing their concerns and answering questions about things going on around town.


Name: Paul smith

Address: 46 Phinney Street

Education: Graduated from Gorham High School and SMVTI

Personal informations: Married to Paulette Smith for 25 years. We have 5 children together, 9 grandchildren and 1 great-grandson.

Use: State of Maine, Gorham School Dept, Town of Gorham, currently independent contractor

Political experience: I served a 3 year term on Gorham City Council.

Why are you running for office and how will your experience benefit City Council?

I am a candidate for the office to work tirelessly for the residents and to uncover waste and inefficiency. My experience will benefit City Council as I have lived in Gorham my entire life. I care deeply about the city and the people. I will work to reduce taxes so that older residents can afford to stay in Gorham. I will continue to find ways to manage growth to balance the impact of growth with the need for housing so that our children and future generations can return to Gorham if they wish.

What do you think is the biggest problem in our community and how could it be addressed?

Increased residential growth has been and continues to be a problem for Gorham. I think we need to come together, council, city staff and taxpayers to work on this issue.

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University of Arizona Global Campus is offering 6 scholarships to Rio Salado College Fellows starting October 11 https://endgradeinflation.org/university-of-arizona-global-campus-is-offering-6-scholarships-to-rio-salado-college-fellows-starting-october-11/ Wed, 13 Oct 2021 04:12:11 +0000 https://endgradeinflation.org/university-of-arizona-global-campus-is-offering-6-scholarships-to-rio-salado-college-fellows-starting-october-11/ UAGC sponsors full tuition fees for new Rio Salado graduates, alumni, faculty and staff CHANDLER, Arizona., 12 October 2021 / PRNewswire / – The University of Arizona Global Campus (UAGC) launched a new scholarship program on October 11, offering the opportunity to six Rio Salado College scholarship recipients to receive a full scholarship to pursue […]]]>

UAGC sponsors full tuition fees for new Rio Salado graduates, alumni, faculty and staff

CHANDLER, Arizona., 12 October 2021 / PRNewswire / – The University of Arizona Global Campus (UAGC) launched a new scholarship program on October 11, offering the opportunity to six Rio Salado College scholarship recipients to receive a full scholarship to pursue a bachelor’s, master’s or doctoral degree in early 2022 at UAGC.

UACG horizontal logo (PRNewsfoto / University of Arizona Global Campus)

(UAGC) launched a new scholarship program on October 11, offering the opportunity to six Rio Salado College scholars

“We are delighted with this partnership with Rio Salado, which will increase access to higher education for students here in Arizona, across the country and around the world, ”said UAGC President Paul pastorek. “What better way to celebrate the launch of this partnership than to help Rio Salado academics continue their educational journey with UAGC. “

The transfer partnership between UAGC and Rio Salado Started in September 2020. These scholarships celebrate the relationship between the two institutions and offer a cost-free route to graduate degrees.

UAGC will award four scholarships for alumni and two scholarships for faculty and staff.

The app opened this week and is available for local and national Rio Salado alumni, current students who will graduate with an associate degree by 01/31/22, staff and faculty.

Eligible applicants can apply online from now until the application deadline, December 10. The scholarship application page including all the terms and conditions of the scholarship program is: https://www.uagc.edu/tuition-financial-aid/scholarships/rio-salado-partnerships-scholarship.

Fellows will be announced on Monday January 31, 2022.

Applicants who do not receive a scholarship may be eligible for savings on tuition fees * through the broader partnership between UAGC and Rio Salado and Maricopa Community Colleges.

“We are grateful to the University of Arizona Global Campus for extending this generous scholarship opportunity to our family of academics, ”said Rio Salado President Kate smith. “The investment that UAGC makes in our community through this grant will likely have a life-changing impact for researchers and a ripple effect on their families and communities. I look forward to joining the team at the ‘UAGC to announce the winners in January and celebrate them on the next step in their college journey. “

There are no restrictions on the types of study programs scholarship recipients can take. UAGC has over 50 programs, including these transfer routes with Rio Salado College, which give students the opportunity to earn up to 90 credit hours at community college tuition rates:

Free information session. Rio Salado and UAGC will host a webinar on Monday, October 18 To 1:00 p.m. PST, to publicly celebrate their partnership and to officially launch this scholarship opportunity.

* Savings on tuition and fees available for those who qualify.

About the University of Arizona Global Campus
The University of Arizona Global Campus (“World Campus” or “UAGC”) is an independent university which is operated in affiliation with the University of Arizona. Global Campus is designed to provide flexible opportunities for students working from diverse backgrounds who seek to acquire knowledge and skills that will help them achieve their life and career goals. Global Campus is accredited by the WASC Senior College and University Commission (WSCUC) and is one of the most innovative online universities in the country, with approximately 30,000 students. UAGC offers more than 50 degrees at the associate, bachelor’s, master’s and doctoral levels. For more information, visit uagc.edu, www.facebook.com/UniversityOfArizonaGlobalCampus, or https://twitter.com/uazglobalcampus.

On Rio Salado College
Rio Salado College is one of ten Maricopa Community Colleges and one of the nation’s largest public online community colleges, serving nearly 50,000 students per year, including more than 28,000 online in 50 states and abroad. Founded in 1978 and based in Tempé, Arizona, Rio Salado offers over 600 online courses, 135+ degree programs and certificates, and general education courses. The college also offers support to, military and incarcerated students and is the largest supplier of adult education in Arizona.double registration, military and incarcerated students and is the largest supplier of adult education in Arizona.

Cision

Cision

View original content to download multimedia: https://www.prnewswire.com/news-releases/the-university-of-arizona-global-campus-offers-6-scholarships-to-rio-salado-college-scholars -beginning -oct-11-301398823.html

THE SOURCE University of Arizona Global Campus

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Niagara Wins 2021 EPA WaterSense® Award of Excellence for Dedication to Helping Customers and Businesses Save Water https://endgradeinflation.org/niagara-wins-2021-epa-watersense-award-of-excellence-for-dedication-to-helping-customers-and-businesses-save-water/ Mon, 11 Oct 2021 22:17:00 +0000 https://endgradeinflation.org/niagara-wins-2021-epa-watersense-award-of-excellence-for-dedication-to-helping-customers-and-businesses-save-water/ FLOWER MOUND, TX, October 11, 2021 (GLOBE NEWSWIRE) – Niagara®, the leader in high performance and high technology, water efficient toilets, accepted the 2021 WaterSense Excellence in Promoting WaterSense Labeled Products Award from the United States Environmental Protection Agency (EPA) for its commitment to helping customers and businesses save water, even with challenges posed by […]]]>

FLOWER MOUND, TX, October 11, 2021 (GLOBE NEWSWIRE) – Niagara®, the leader in high performance and high technology, water efficient toilets, accepted the 2021 WaterSense Excellence in Promoting WaterSense Labeled Products Award from the United States Environmental Protection Agency (EPA) for its commitment to helping customers and businesses save water, even with challenges posed by the COVID-19 pandemic in 2020. This is the fifth award Niagara has received from the EPA for its water efficiency efforts.

Niagara was recognized for promoting WaterSense and water efficiency throughout 2020, at the WaterSmart Innovations (WSI) Conference and Exhibition in Las Vegas, along with 33 other utilities, manufacturers, builders, retailers and other organizations partnering with WaterSense to promote water conservation. products, homes and programs.

“We are proud to be a WaterSense partner and have enjoyed this relationship for over a decade,” said Carl Wehmeyer, CEO of Niagara. “Since our founding, Niagara has made water conservation and education around WaterSense and water conservation a prominent property in our product development, sales and communications efforts. To be recognized for this work is a real honor.

WaterSense, an EPA-sponsored voluntary partnership program, is both a label for water efficient products and homes and a resource to help consumers learn ways to conserve water. Since the program began in 2006, WaterSense-labeled products have helped consumers and businesses save 5.3 trillion gallons of water – enough water to supply every household in the United States with water for 200 days. ! In addition to water savings, WaterSense has reduced the amount of energy needed to heat, pump and treat water by 603 billion kilowatt hours and saved $ 108 billion in water and energy bills. .

“In 2020, our WaterSense partners continued to make water saving possible by educating customers and businesses about WaterSense and water-saving behaviors,” said Veronica Blette, WaterSense program manager. “Our award winners’ creative and engaged approaches to water conservation have helped consumers save water, energy and money on their utility bills when they need it. Not needed anymore.

WaterSense recognized Niagara as the 2021 winner of the WaterSense Excellence in Promoting WaterSense Labeled Products Award for promoting and displaying the WaterSense logo and Niagara product efficiency statistics in advertising and marketing campaigns in leading industry publications , as well as in trade magazines of the industry. Additionally, WaterSense is a key feature in all Niagara social media cadences, including content on WaterSense in infographics, social posts and beyond.

In 2020, as trade shows have moved to virtual events, Niagara has made a point of including the WaterSense logo in most, if not all, media. Additionally, to properly demonstrate the WaterSense label, Niagara incorporates the logo and information on all datasheets, product packaging, website, educational PowerPoint presentations, as well as training materials for the entire organization. staff and external sales team.

In 2021, Niagara introduced four new suites of toiletries with more than 100 references dedicated to the traditional wholesale channel and designed with advanced technology, high performance and water efficiency.

About Niagara
Founded in 1977 and headquartered in Flower Mound, TX, Niagara is leading the water revolution by saving the world’s water through everyday ingenuity without sacrificing performance. Recognized by several National WaterSense Awards of Excellence from the EPA and other industry awards for its stealth technology and superiority in reducing water waste, Niagara was one of the first manufacturers of toilets to rethink the flush for a high-power, low-maintenance, waste-free toilet. with Stealth technology that saves customers money by reducing water while maintaining high performance. Niagara supports the US and international markets. For more information, visit niagaracorp.com or call 888-733-0197.

About WaterSense
WaterSense, an EPA-sponsored partnership program, aims to protect the future of our nation’s water supply by providing consumers and businesses with simple ways to use less water with products, homes and water efficient services. For more information on WaterSense, visit www.epa.gov/watersense.

###

CONTACT: Jordan Callahan JCallahan@willowstagency.com 303.406.8839
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Jennifer De Jesus Candidate for Easton Board of Directors https://endgradeinflation.org/jennifer-de-jesus-candidate-for-easton-board-of-directors/ Sun, 10 Oct 2021 15:59:40 +0000 https://endgradeinflation.org/jennifer-de-jesus-candidate-for-easton-board-of-directors/ WESTON-REDDING-EASTON, CT – The state municipal election is Tuesday, November 2. Patch has reached out to candidates to answer questions about their campaigns. Democrat Jennifer de Jesus, 47, is running for Easton’s board of directors in Weston-Redding-Easton. Occupation: Franchise Owner – The Ups Store, Darien Ct Family: Husband: Marcos Daughter: Clara Stepchildren: Eric, Fernando and […]]]>

WESTON-REDDING-EASTON, CT – The state municipal election is Tuesday, November 2.

Patch has reached out to candidates to answer questions about their campaigns.

Democrat Jennifer de Jesus, 47, is running for Easton’s board of directors in Weston-Redding-Easton.

Occupation: Franchise Owner – The Ups Store, Darien Ct

Family: Husband: Marcos Daughter: Clara Stepchildren: Eric, Fernando and Isabella

To live: Appointed – Easton Board of Ed

Family in government: No

The biggest problem in town is ______, and I plan to do this about it:

The ongoing challenge of securing the support of the Easton Finance Council to fund essential school programs. I will advocate for our priority funding needs over the budget cycle. One of the main reasons young families move to Easton is our school system. It is essential that we support the educational needs of our children to enable them to become strong leaders.

Critical differences between me and my opponents:

I have 20 years of accounting and finance experience in both public accounting and corporate finance. As a member of the Easton Education Council and I can use my financial expertise to help our community work with the Finance Council during the annual budget process.

Achievements:

I am confident that my education (BS in Accounting, MBA and CPA) and my 20 year career in Accounting and Finance will enable me to be a strong advocate for our Easton families. During my 15 year career at IBM, I have successfully collaborated with peers from many organizations and around the world to ensure the team achieves its goals. My strong analytical and presentation skills will allow me to help my Easton BOE members prepare for budget negotiations.

Other issues:

I want to build trust in the community and make sure all families in Easton feel welcome.

What would you want voters to know about you?

I am very passionate about ensuring our children in Easton are receiving the best possible education. I believe we need to continue funding our schools to keep young families interested in moving to Easton. I believe in providing a curriculum that not only focuses on core curriculum like reading, writing, and math, but also staying up to date on learning advancements in new technology and STEM.

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PEDAGOGICAL DEVELOPMENT: DISCUSSION AND ANALYSIS BY THE MANAGEMENT OF THE FINANCIAL POSITION AND RESULTS OF OPERATIONS (Form 10-Q) https://endgradeinflation.org/pedagogical-development-discussion-and-analysis-by-the-management-of-the-financial-position-and-results-of-operations-form-10-q/ Thu, 07 Oct 2021 13:03:06 +0000 https://endgradeinflation.org/pedagogical-development-discussion-and-analysis-by-the-management-of-the-financial-position-and-results-of-operations-form-10-q/ Factors Affecting Forward-Looking Statements The following discussion contains forward-looking statements that reflect our future plans, estimates, beliefs and expected performance. The forward-looking statements are dependent upon events, risks and uncertainties that may be outside our control. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute […]]]>

Factors Affecting Forward-Looking Statements




The following discussion contains forward-looking statements that reflect our
future plans, estimates, beliefs and expected performance. The forward-looking
statements are dependent upon events, risks and uncertainties that may be
outside our control. Our actual results could differ materially from those
discussed in these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, our success in
recruiting and retaining new consultants, our ability to locate and procure
desired books, our ability to ship the volume of orders that are received
without creating backlogs, our ability to obtain adequate financing for working
capital and capital expenditures, economic and competitive conditions,
regulatory changes and other uncertainties, the COVID-19 pandemic, as well as
those factors discussed below and elsewhere in our Annual Report on Form 10-K
for the year ended February 28, 2021 and this Quarterly Report on Form 10-Q, all
of which are difficult to predict. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed may or may not occur. See
"Cautionary Remarks Regarding Forward-Looking Statements" in the front of this
Quarterly Report on Form 10-Q.



Overview



We are the exclusive United States trade co-publisher of Usborne children's
books and the owner of Kane Miller. We operate two separate segments, UBAM and
Publishing, to sell our Usborne and Kane Miller children's books. These two
segments each have their own customer base. The UBAM segment markets its
products through a network of independent sales consultants using a combination
of home shows, internet party plan events and book fairs. The Publishing segment
markets its products on a wholesale basis to various retail accounts. All other
supporting administrative activities are recognized as other expenses outside of
our two segments. Other expenses consist primarily of the compensation of our
office, warehouse and sales support staff as well as the cost of operating and
maintaining our corporate office and distribution facility.



The following table shows our condensed income data statements:



                                        Three Months Ended                 Six Months Ended
                                            August 31,                        August 31,
                                       2021             2020             2021             2020
Net revenues                       $ 32,994,400     $ 59,250,100     $ 73,802,300     $ 97,541,800
Cost of goods sold                   10,498,900       17,309,500       22,528,800       28,705,000
Gross margin                         22,495,500       41,940,600       

51 273 500 68 836 800


Operating expenses
Operating and selling                 5,239,900       10,531,900       11,682,500       16,872,100
Sales commissions                    10,105,200       20,304,400       23,072,000       33,904,900
General and administrative            4,793,900        5,664,000        9,932,800       10,200,000
Total operating expenses             20,139,000       36,500,300       

44 687 300 60 977 000


Interest expense                        213,700          140,000          381,500          322,200
Other income                           (515,300 )       (499,200 )     (1,114,000 )       (905,800 )
Earnings before income taxes          2,658,100        5,799,500        7,318,700        8,443,400

Income taxes                            759,900        1,544,500        1,982,400        2,257,300
Net earnings                       $  1,898,200     $  4,255,000     $  5,336,300     $  6,186,100



See the detailed discussion of revenue, gross margin, and general and administrative expenses by segment to be presented below. The following is an analysis of significant changes in corporate general and administrative expenses, other income and expenses and income taxes during the respective periods.




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Contents

Non-segment operating results for the three months ended August 31, 2021




Total operating expenses not associated with a reporting segment decreased $0.8
million, or 16.0%, to $4.2 million for the three-month period ended August 31,
2021, when compared to $5.0 million for the same quarterly period a year ago.
Operating expenses decreased primarily as a result of a $0.6 million decrease in
warehouse labor and a $0.4 million decrease in freight handling expenses, both
resulting from a decrease in gross sales, offset by a $0.2 million increase in
other various expenses.



Interest expense increased $0.1 million, or 100.0%, to $0.2 million for the
three months ended August 31, 2021, when compared to $0.1 million for the same
quarterly period a year ago associated with the increase in our line of credit
and the addition of the Advancing Term Loan in the current fiscal year.



Income taxes decreased $0.7 million, or 46.7%, to $0.8 million for the three
months ended August 31, 2021, from $1.5 million for the same quarterly period a
year ago. Our effective tax rate increased to 28.6% for the quarter ended August
31, 2021, from 26.6% for the quarter ended August 31, 2020 due to sales mix
fluctuations between states. Our tax rates are higher than the federal statutory
rate of 21% due to the inclusion of state income and franchise taxes.



Non-segment operating results for the half-year ended August 31, 2021




Total operating expenses remained consistent at $8.7 million for the six-month
periods ended August 31, 2021 and August 31, 2020. Warehouse labor decreased
$0.2 million and freight handling decreased $0.4 million for the six months
ended August 31, 2021, both associated with reduced sales. These changes were
offset by increased warehouse rental of $0.2 million and property insurance of
$0.1 million associated with increased inventory levels along with a $0.3
million increase in other various expenses.



Interest expense increased $0.1 million, or 33.3%, to $0.4 million for the six
months ended August 31, 2021, when compared to $0.3 million for the same period
a year ago as a result of the increase in our line of credit and the addition of
the Advancing Term Loan in the current fiscal year.



Income taxes decreased $0.3 million, or 13.0%, to $2.0 million for the six
months ended August 31, 2021, from $2.3 million for the same period a year ago.
Our effective tax rate increased to 27.1% for the six months ended August 31,
2021, from 26.7% for the six months ended August 31, 2020 due to sales mix
fluctuations between states. Our tax rates are higher than the federal statutory
rate of 21% due to the inclusion of state income and franchise taxes.



UBAM’s operating results for the three and six months ended August 31, 2021

The following table summarizes the operating results of the UBAM segment:



                                             Three Months Ended                   Six Months Ended
                                                 August 31,                          August 31,
                                           2021              2020              2021              2020
Gross sales                            $  36,789,400     $  68,868,300     $  82,325,100     $ 112,814,400
Less discounts and allowances            (10,590,700 )     (18,828,400 )     (22,876,400 )     (30,135,100 )
Transportation revenue                     3,319,400         6,871,700         7,686,300        11,158,500
Net revenues                              29,518,100        56,911,600        67,135,000        93,837,800

Cost of goods sold                         8,636,600        16,129,700        18,886,500        26,818,300
Gross margin                              20,881,500        40,781,900        48,248,500        67,019,500

Operating expenses
Operating and selling                      4,215,000         9,137,600         9,559,700        14,563,900
Sales commissions                          9,937,600        20,249,400        22,795,900        33,809,800
General and administrative                 1,149,800         1,732,300         2,452,500         3,156,100
Total operating expenses                  15,302,400        31,119,300      

34 808 100 51 529 800


Operating income                       $   5,579,100     $   9,662,600     

$ 13,440,400 $ 15,489,700


Average number of active consultants          46,100            45,400            50,200            39,300




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Contents

UBAM’s operating results for the three months ended August 31, 2021




UBAM net revenues decreased $27.4 million, or 48.2%, to $29.5 million during the
three months ended August 31, 2021, when compared to $56.9 million during the
same period a year ago. The average number of active consultants in the second
quarter of fiscal 2022 was 46,100, an increase of 700, or 1.5%, from 45,400
selling in the second quarter of fiscal 2021. The Company reports the average
number of active consultants each quarter as a key indicator for this division.
During the quarter ended August 31, 2020 our sales per average number of active
consultants increased significantly to due to the increase in demand for our
products resulting from the impacts of the COVID-19 pandemic. During last
summer, school closings and public interaction restrictions increased the need
for educational materials in the home and our consultants were positioned to
fill this increased demand. During the quarter ended August 31, 2021, our sales
per average number of active consultants remained consistent with years prior to
the COVID-19 pandemic.



Gross margin decreased $19.9 million, or 48.8%, to $20.9 million during the
three months ended August 31, 2021, when compared to $40.8 million during the
same period a year ago, primarily associated with the decrease in net revenues.
Gross margin as a percentage of net revenues decreased 1.0%, to 70.7% for the
three-month period ended August 31, 2021, when compared to 71.7% the same period
a year ago. The decrease in gross margin as a percentage of net revenues
resulted from a change in order mix partially offset by reduced cost of goods
sold. During the quarter ended August 31, 2021 sales through book fairs, booths
and home parties increased over the second quarter last year when these sales
types were challenged. These sales types have higher sales discounts and pay
less sales commissions to our consultants, resulting in similar operating
income. Reduced cost of goods sold resulted from larger volume discounts and
vendor rebates associated with increased purchasing volumes over pre-COVID-19
levels.



UBAM operating expenses consists of operating and selling expenses, sales
commissions and general and administrative expenses. Operating and selling
expenses primarily consists of freight expenses and materials and supplies.
Sales commissions include amounts paid to consultants for new sales and
promotions. These operating expenses are directly tied to the sales volumes of
the UBAM segment. General and administrative expenses include payroll, outside
services, inventory reserves and other expenses directly associated with the
UBAM segment. Total operating expenses decreased $15.8 million, or 50.8%, to
$15.3 million during the three-month period ended August 31, 2021, when compared
to $31.1 million reported in the same quarter a year ago. Operating and selling
expenses decreased $4.9 million, or 53.8%, to $4.2 million during the
three-month period ended August 31, 2021, when compared to $9.1 million reported
in the same quarter a year ago, primarily due to a decrease in net revenues and
a decrease in postage and freight peak charges we experienced in the second
quarter last year. Sales commissions decreased $10.3 million, or 51.0%, to $9.9
million during the three-month period ended August 31, 2021, when compared to
$20.2 million reported in the same quarter a year ago, due primarily to the
decrease in net revenues. General and administrative expenses decreased $0.6
million, or 35.3%, to $1.1 million during the three months ended August 31,
2021, when compared to $1.7 million during the same period a year ago, due
primarily to reduced bank fees from less credit card transactions during the
quarter ended August 31, 2021.



Operating income of the UBAM segment decreased $4.1 million, or 42.3%, to $5.6
million during the three months ended August 31, 2021, when compared to $9.7
million reported in the same quarter a year ago, primarily due to the change in
net revenues. Operating income of the UBAM division as a percentage of net
revenues for the three months ended August 31, 2021 increased to 18.9%, compared
to 17.0% for the three months ended August 31, 2020, primarily from reduced cost
of goods sold resulting from larger volume discounts and vendor rebates
associated with increased purchasing volumes and reduced outbound shipping peak
charges experienced in the second quarter last year.



UBAM’s operating results for the half-year ended August 31, 2021




UBAM net revenues decreased $26.7 million, or 28.5%, to $67.1 million during the
six-month period ended August 31, 2021, compared to $93.8 million from the same
period a year ago. The average number of active consultants in the six-month
period ended August 31, 2021 was 50,200, an increase of 10,900, or 27.7%, from
39,300 selling in same period a year ago. During the six months ended August 31,
2020 our sales per average number of active consultants increased significantly
due to the increase in demand for our products resulting from the impacts of the
COVID-19 pandemic. School closings and quarantine restrictions increased the
need for educational materials in the home and our consultants were positioned
to fill this increased demand. During the six months ended August 31, 2021, our
sales per average number of active consultants remained consistent with years
prior to the COVID-19 pandemic.



                                       16

————————————————– ——————————

Contents




Gross margin decreased $18.8 million, or 28.1%, to $48.2 million during the
six-month period ended August 31, 2021, when compared to $67.0 million during
the same period a year ago, due primarily to a decrease in net revenues. Gross
margin as a percentage of net revenues increased to 71.9% for the six-month
period ended August 31, 2021, when compared to 71.4% for the same period a year
ago. During the six months ended August 31, 2021 , sales through book fairs,
booths and home increased over the first six months of fiscal year 2021 when
these sales types were challenged. These sales types have higher sales discounts
and pay less sales commissions to our consultants, resulting in similar
operating income. The decrease in gross margin percentage associated with the
mix from these sales types was offset by reduced cost of goods sold resulting
from larger volume discounts and vendor rebates associated with increased
purchasing volumes over pre-COVID-19 levels.



Total operating expenses decreased $16.7 million, or 32.4%, to $34.8 million
during the six-month period ended August 31, 2021, from $51.5 million for the
same period a year ago. Operating and selling expenses decreased $5.0 million,
or 34.2%, to $9.6 million during the six-month period ended August 31, 2021,
when compared to $14.6 million reported in the same period a year ago, primarily
due to a decrease in shipping costs associated with the decrease in volume of
orders shipped. Sales commissions decreased $11.0 million, or 32.5%, to $22.8
million during the six-month period ended August 31, 2021, when compared to
$33.8 million reported in the same period a year ago, primarily due to the
decrease in net revenues along with a lower percentage of internet-based sales,
which offer fewer discounts and higher sales commissions to consultants. General
and administrative expenses decreased $0.7 million, or 21.9%, to $2.5 million,
from $3.2 million recognized during the same period last year, due primarily to
decreased credit card transaction fees associated with decreased sales volumes.



Operating income of the UBAM segment decreased $2.1 million, or 13.5%, to $13.4
million during the six months ended August 31, 2021, when compared to $15.5
million reported in the same period last year. Operating income of the UBAM
division as a percentage of net revenues for the six months ended August 31,
2021 was 20.0%, compared to 16.5% for the six months ended August 31, 2020, a
change of 3.5%. Operating income as a percentage of net revenues increased from
the prior year primarily from reduced cost of goods sold resulting from larger
volume discounts and vendor rebates associated with increased purchasing volumes
and reduced outbound shipping peak charges experienced during the first six
months of the prior fiscal year.



Publication of operating results for the three and six months ended August 31, 2021




The following table summarizes the operating results of the Publishing segment:



                                        Three Months Ended                 Six Months Ended
                                            August 31,                        August 31,
                                       2021             2020             2021             2020
Gross sales                        $  7,397,700     $  4,814,500     $ 14,253,600     $  7,765,300
Less discounts and allowances        (3,922,800 )     (2,535,000 )     (7,591,200 )     (4,124,200 )
Transportation revenue                    1,400           59,000            4,900           62,900
Net revenues                          3,476,300        2,338,500        

6,667,300 3,704,000


Cost of goods sold                    1,862,300        1,179,800        3,642,300        1,886,700
Gross margin                          1,614,000        1,158,700        

3,025,000 1,817,300


Total operating expenses                631,200          419,900        

1 180 700 731 900


Operating income                   $    982,800     $    738,800     $  1,844,300     $  1,085,400



Publication of operating results for the three months ended August 31, 2021




Our Publishing division's net revenues increased $1.2 million, or 52.2%, to $3.5
million during the three-month period ended August 31, 2021, from $2.3 million
reported in the same period a year ago. Many Publishing customers began to
reopen in the latter half of fiscal year 2021 after closing in the first quarter
of fiscal year 2021 due to the COVID-19 pandemic.



Gross margin increased $0.4 million, or 33.3%, to $1.6 million during the
three-month period ended August 31, 2021, from $1.2 million reported in the same
quarter a year ago, primarily due to the increase in net revenues. Gross margin
as a percentage of net revenues decreased to 46.4% during the three-month period
ended August 31, 2021, from 49.5% reported in the same quarter a year ago. Gross
margin as a percentage of net revenues fluctuates primarily from the different
discount levels offered to customers as well as changes in the mix of products
sold between Kane Miller and Usborne.



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Total operating expenses of the Publishing segment increased $0.2 million, or
50.0%, to $0.6 million, from $0.4 million, during the three-month periods ended
August 31, 2021 and 2020, primarily as a result of increased freight expenses
from an increase in sales.



Operating income of the Publishing segment increased $0.3 million, or 42.9%, to
$1.0 million from $0.7 million for the three-month periods ended August 31, 2021
and 2020, primarily driven by the increase in net revenues.



Publication of operating results for the half-year ended August 31, 2021




Our Publishing division's net revenues increased $3.0 million, or 81.1%, to $6.7
million during the six-month period ended August 31, 2021, from $3.7 million
reported in the same period a year ago. The increase in sales resulted from
temporary store closures impacted by the COVID-19 pandemic in fiscal year 2021.
Many Publishing customers temporarily closed during the first quarter of fiscal
year 2021, following the guidance from their local authorities to slow the
spread of the pandemic, and began reopening at varying times in the latter half
of fiscal year 2021.



Gross margin increased $1.2 million, or 66.7%, to $3.0 million during the
six-month period ended August 31, 2021, from $1.8 million reported in the same
period a year ago, primarily due to the increase in net revenues. Gross margin
as a percentage of net revenues decreased to 45.4%, during the six-month period
ended August 31, 2021, from 49.1% reported in the same period a year ago. The
decrease in gross margin percentage results primarily from a change in our
customer mix. Customers receive varying discounts due to sales volumes and
contract terms.



Total operating expenses of the Publishing segment increased $0.5 million, or
71.4%, to $1.2 million during the six-month period ended August 31, 2021, from
$0.7 million reported in the same period a year ago, resulting from a $0.3
million increase in postage and freight from an increase in sales volumes and a
$0.2 million increase in sales commissions from an increase in sales volumes.



Operating income of the Publishing segment increased $0.7 million, or 63.6%, to
$1.8 million during the six-month period ended August 31, 2021 when compared to
$1.1 million reported in the same period a year ago, due primarily to the
increase in net revenues.





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Liquidity and capital resources




EDC has a history of profitability and positive cash flow. We typically fund our
operations from the cash we generate. We also use available cash to pay down
outstanding bank loan balances, for capital expenditures, to pay dividends, and
to acquire treasury stock. We have utilized a bank credit facility and other
term loan borrowings to meet our short-term cash needs, as well as fund capital
expenditures, when necessary.



During the first six months of fiscal 2022, we recorded cash outflows related to the operation of $ 12,422,100. These cash outflows result from:



?net earnings of $5,336,300



Adjusted for:


? depreciation expense of $ 924,200

? share-based compensation expense of $ 523,300

? provision for depreciation of inventories of $ 120,000

provision for doubtful debts $ 61,600



Offset by:


? deferred taxes of $ 48,500



Negatively impacted by:


increase in inventories, net of $ 13,223,100

decrease in salaries and commissions payable, and other liabilities of
$ 4,076,900

? decrease in deferred revenue by $ 1,162,700

increase in accounts receivable from $ 609,300

? increase in prepaid expenses and other assets of $ 158,200

decrease in accounts payable by $ 104,700

? decrease in income taxes payable by $ 4,100




Cash used in investing activities was $3,210,200 for capital expenditures, which
were comprised of $2,849,700 in equipment purchased to increase our daily
shipping capacity, $280,500 in software upgrades to our proprietary systems that
our UBAM consultants use to monitor their business and place customer orders and
$80,000 in building and building improvements.



Cash provided by financing activities was $14,741,300, which was comprised of
proceeds from term debt of $5,244,700, net borrowings under the line of credit
of $11,408,500 and net cash received in treasury stock transactions of $92,400,
offset by payments of $1,698,500 for dividends and payments on term debt of
$305,800.



During fiscal year 2022, we continue to expect the cash generated from our
operations and cash available through our line of credit with our Bank will
provide us the liquidity we need to support ongoing operations. Cash generated
from operations will be used to increase inventory by expanding our product
offerings, to liquidate existing debt, and any excess cash is expected to be
distributed to our shareholders.



On February 15, 2021, the Company executed the Amended and Restated Loan
Agreement with MidFirst Bank which replaced the prior loan agreement and
includes multiple loans. Term Loan #1 Tranche A ("Term Loan #1"), originally
totaling $13.4 million, was part of the prior loan agreement. Term Loan #1 had a
fixed interest rate of 4.23%, with principal and interest payable monthly and a
stated maturity date of December 1, 2025. Term Loan #1 is secured by the primary
office, warehouse and land. Term Loan #1 was amended on April 1, 2021 by
executing the First Amendment to the Loan Agreement which reduced the fixed
interest rate to 3.12% and removed the prepayment premium from the Loan
Agreement. The outstanding borrowings on Term Loan #1 were $10.7 million and
$11.0 million as of August 31, 2021 and February 28, 2021, respectively.



In addition, the Amended and Restated Loan Agreement provides a $6.0 million
Advancing Term Loan to be used to finance planned equipment purchases. The
Advancing Term Loan required interest-only payments through July 15, 2021, at
which time it was converted to a 60-month amortizing term loan maturing July 15,
2026. The Advancing Term Loan accrues interest at the Bank-adjusted LIBOR Index
plus a tiered pricing rate based on the Company's Adjusted Funded Debt to EBITDA
Ratio, with a minimum rate of 2.75%. Our borrowings outstanding under the
Advancing Term Loan at August 31, 2021 were $5.2 million.



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The Amended and Restated Loan Agreement also provides a $20.0 million revolving
loan ("line of credit") through August 15, 2022 with interest payable monthly at
the Bank-adjusted LIBOR Index plus a tiered pricing rate based on the Company's
Adjusted Funded Debt to EBITDA Ratio, with a minimum rate of 2.75%. On July 16,
2021, the Company executed the Second Amendment to the Loan Agreement which
increased the Maximum Revolving Principal Amount from $15.0 million to $20.0
million. On August 31, 2021, the Company executed the Third Amendment to the
Loan Agreement which modified the advance rates used in the borrowing base
certificate. Our borrowings outstanding on our line of credit at August 31, 2021
and February 28, 2021 were $16.7 million and $5.2 million, respectively.
Available credit under the revolving line of credit was approximately $3.3
million and $9.6 million at August 31, 2021 and February 28, 2021, respectively.



The Amended and Restated Loan Agreement also contains a provision for our use of
the Bank's letters of credit. The Bank agrees to issue or obtain issuance of
commercial or stand-by letters of credit provided that the sum of the line of
credit plus the letters of credit issued would not exceed the borrowing base in
effect at the time. As of August 31, 2021, we had no letters of credit
outstanding. The agreement contains provisions that require us to maintain
specified financial ratios, place limitations on additional debt with other
banks, limit the amounts of dividends declared and limits the number of shares
that can be repurchased using funding from the line of credit.



The following table presents the aggregate future maturities of long-term debt over the next five years and thereafter as follows:




Years ending February 28 (29),
2022                             $    816,900
2023                                1,658,800
2024                                1,678,300
2025                                1,697,700
2026                                9,546,400
Thereafter                            525,500
Total                            $ 15,923,600




Critical Accounting Policies



Our discussion and analysis of our financial condition and results of operations
are based upon our financial statements, which have been prepared in accordance
with accounting principles generally accepted in the United States("GAAP"). The
preparation of these financial statements requires us to make estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and
expenses, and related disclosures of contingent assets and liabilities. On an
on-going basis, we evaluate our estimates, including those related to our
valuation of inventory, allowance for uncollectible accounts receivable,
allowance for sales returns, long-lived assets and deferred income taxes. We
base our estimates on historical experience and on various other assumptions
that are believed to be reasonable under the circumstances, the results of which
form the basis for making judgments about the carrying values of assets and
liabilities that are not readily apparent from other sources.



Actual results may materially differ from these estimates under different
assumptions or conditions. Historically, however, actual results have not
differed materially from those determined using required estimates. Our
significant accounting policies are described in the notes accompanying the
financial statements included elsewhere in this report. However, we consider the
following accounting policies to be more significantly dependent on the use of
estimates and assumptions.



Revenue Recognition



Sales associated with product orders are recognized and recorded when products
are shipped. Products are shipped FOB shipping point. UBAM's sales are generally
paid at the time the product is ordered. Sales which have been paid for but not
shipped are classified as deferred revenue on the balance sheet. Sales
associated with consignment inventory are recognized when reported and payment
associated with the sale has been remitted. Transportation revenue represents
the amount billed to the customer for shipping the product and is recorded when
the product is shipped.



Estimated allowances for sales returns are recorded as sales are
recognized. Management uses a moving average calculation to estimate the
allowance for sales returns. We are not responsible for product damaged in
transit. Damaged returns are primarily received from the retail stores of our
Publishing division. Those damages occur in the stores, not in shipping to the
stores, and we typically do not offer credit for damaged returns. It is industry
practice to accept non-damaged returns from retail customers. Management has
estimated and included a reserve for sales returns of $0.2 million as of August
31, 2021 and February 28, 2021.



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Provision for bad debts




We maintain an allowance for estimated losses resulting from the inability of
our customers to make required payments and a reserve for vendor share markdowns
(collectively "allowance for doubtful accounts"). An estimate of uncollectible
amounts is made by management based upon historical bad debts, current customer
receivable balances, age of customer receivable balances, customers' financial
conditions and current economic trends. Management has estimated and included an
allowance for doubtful accounts of $0.4 million at August 31, 2021, and $0.3
million at February 28, 2021. Included within this allowance is $0.1 million of
reserve for vendor discounts to sell remaining inventory as of August 31, 2021
and February 28, 2021.



Inventory



Our inventory contains over 2,000 titles, each with different sell through rates
depending upon the nature and popularity of the title. We maintain very few
titles that are topical in nature. As such, the majority of the titles we sell
remain current in content for several years. Most of our products are printed in
China, Europe, Singapore, India, Malaysia and Dubai resulting in a four- to
six-month lead-time to have a title printed and delivered to us.



Certain inventory is maintained in a noncurrent classification. Management
continually estimates and calculates the amount of noncurrent inventory.
Noncurrent inventory arises due to occasional purchases of titles in quantities
in excess of what will be sold within the normal operating cycle, due to minimum
order requirements of our suppliers. Noncurrent inventory was estimated by
management using the current year turnover ratio by title. Inventory in excess
of 2½ years of anticipated sales is classified as noncurrent inventory. These
inventory quantities have exposure of becoming out of date, and therefore have
higher obsolescence reserves. Noncurrent inventory balances prior to valuation
allowances were $1.1 million and $0.9 million at August 31, 2021 and February
28, 2021, respectively. Noncurrent inventory valuation allowances were $0.3
million and $0.2 million at August 31, 2021 and February 28, 2021, respectively.



Our principal supplier, based in England, generally requires a minimum re-order
of 6,500 or more of a title in order to get a solo print run. Smaller orders
would require a shared print run with the supplier's other customers, which can
result in lengthy delays to receive the ordered title. Anticipating customer
preferences and purchasing habits requires historical analysis of similar titles
in the same series. We then place the initial order or re-order based upon this
analysis. These factors and historical analysis have led our management to
determine that 2½ years represents a reasonable estimate of the normal operating
cycle for our products.



Consultants that meet certain eligibility requirements may request and receive
inventory on consignment. We believe allowing our consultants to have
consignment inventory greatly increases their ability to be successful in making
effective presentations at home shows, book fairs and other events; in summary,
having consignment inventory leads to additional sales
opportunities. Approximately 4.8% of our active consultants maintained
consignment inventory at the end of the second quarter of fiscal
2022. Consignment inventory is stated at cost, less an estimated reserve for
consignment inventory that is not expected to be sold or returned to the
Company. The total cost of inventory on consignment with consultants was $1.2
million and $1.1 million at August 31, 2021 and February 28, 2021, respectively.



Inventories are presented net of a valuation allowance, which includes reserves
for inventory obsolescence and reserves for consigned inventory that is not
expected to be sold or returned to the Company. Management estimates the
inventory obsolescence allowance for both current and noncurrent inventory,
which is based on management's identification of slow-moving
inventory. Management has estimated a valuation allowance for both current and
noncurrent inventory, including the reserve for consigned inventory, of $0.8
million and $0.7 million at August 31, 2021 and February 28, 2021, respectively.



Share-Based Compensation



We account for share-based compensation whereby share-based payment transactions
with employees, such as stock options and restricted stock, are measured at
estimated fair value at the date of grant. For awards subject to service
conditions, compensation expense is recognized over the vesting period on a
straight-line basis. Awards subject to performance conditions are attributed
separately for each vesting tranche of the award and are recognized ratably from
the service inception date to the vesting date for each tranche. Forfeitures are
recognized when they occur. Any cash dividends declared after the restricted
stock award is issued, but before the vesting period is completed, will be
reinvested in Company shares at the opening trading price on the dividend
payment date. Shares purchased with cash dividends will also retain the same
restrictions until the completion of the original vesting period associated with
the awarded shares.



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The restricted share awards under the 2019 Long-Term Incentive Plan ("2019 LTI
Plan") and 2022 Long-Term Incentive Plan ("2022 LTI Plan") contain both service
and performance conditions. The Company recognizes share-based compensation
expense only for the portion of the restricted share awards that are considered
probable of vesting. Shares are considered granted, and the service inception
date begins, when a mutual understanding of the key terms and conditions between
the Company and the employees have been established. The fair value of these
awards is determined based on the closing price of the shares on the grant date.
The probability of restricted share awards granted with future performance
conditions is evaluated at each reporting period and compensation expense is
adjusted based on the probability assessment.



During the first six months of fiscal 2022, the Company recognized $ 0.5 million the compensation expense associated with the shares granted.





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