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BRUSSELS , Dec. 24, 2024 /PRNewswire/ -- In an upcoming EU Reporter interview , M. Shigeo Katsu , Founding President of Nazarbayev University (NU) and a key architect of Kazakhstan's education reforms, will address the escalating scandal surrounding financial mismanagement at the country's flagship higher education institution. The crisis gained public attention following the announcement of the state audit results of Nazarbayev University. The revelations have sparked widespread concerns about transparency and oversight at one of Central Asia's most prestigious universities. Adding to the controversy are allegations of financial mismanagement involving the New Generation Foundation, the Jusan Group — entities originally established to ensure the long-term financial sustainability of NU and Nazarbayev Intellectual Schools (NIS). Questions have also been raised about the state of affairs at NU's Social Development Fund. Reports suggest that funds may have been misappropriated, triggering outrage from students, educators, and civil society. In response, a student initiative group from Nazarbayev University issued an open letter demanding the release of both the state audit and NU's internal audit of the Social Development Fund. The letter also calls for greater accountability, enhanced transparency, and the protection of students' rights. This appeal reflects mounting frustration with the university's leadership and a growing demand for immediate corrective action. Shigeo Katsu's interview will shed light on these unfolding developments. As a former leader of NU, Katsu is uniquely positioned to analyze the root causes of the crisis, critique the university's response, and discuss the broader implications for Kazakhstan's education sector. The full interview can be found here: https://www.eureporter.co/kazakhstan-2/2024/12/23/the-battle-for-nazarbayev-universitys-future-shigeo-katsu-on-financial-mismanagement-and-accountability/ The Battle for Nazarbayev University's Future: Shigeo Katsu on Financial Mismanagement and Accountability In light of recent controversies surrounding the financial governance of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS), an open letter from concerned students has surfaced, addressing the troubling mismanagement of funds and alleged conflicts of interest. The letter highlights a series of financial decisions that led to the unraveling of key institutions meant to ensure the long-term stability of NU and NIS. The students are particularly concerned about the fate of the Jusan Group and the Nazarbayev Fund (NGF), which were once positioned to secure the financial future of these two leading educational institutions. Instead, they allege that significant funds were misappropriated and whole organizations lost, leading to the collapse of what was once a promising financial structure. In response, Shigeo Katsu , the Founding President of Nazarbayev University, has also written an open letter , received by EU Reporter, addressing the ongoing crisis and providing his perspective on the unfolding situation. In his letter, Katsu outlines the rationale of engagement in the financial sector and the erosion of the initial vision for NU, highlighting the role of key financial institutions like Jusan Bank and the NGF in securing a stable future for the university and NIS. He draws attention to the series of decisions that led to the loss of the former and calls for urgent remedial actions to prevent further damage to the institutions' credibility and financial stability . In this exclusive interview with EU Reporter , Shigeo Katsu , the Founding President of Nazarbayev University, sheds light on these pressing issues. He discusses the audit findings, the role of Jusan Bank , and what must be done to restore trust and secure the future of NU and NIS. Bio: Mr. Shigeo Katsu is the Founding President of Nazarbayev University. He held the position of President from December 2010 until June 2023 . He was Chair of the Board of Trustees of an affiliated secondary school system, the Nazarbayev Intellectual Schools, and of the University's hospital system. Prior to the assignments in Kazakhstan , over the course of a 30-year career at the World Bank, Mr. Shigeo Katsu held various positions including leading financial sector reform support for China , Director for Cote d'Ivoire , and Vice President for Europe and Central Asia . After his retirement from the World Bank, he served for a few years on the US board of a youth-oriented international development NGO. Between 2011 and 2015 he was an Advisory Panel member of the ASEAN+3 Macroeconomic Research Office (AMRO). Questions: - We have exclusively published your open letter and anticipate that it will generate a significant response. What drove you to write it, particularly in light of the misuse of funds intended to ensure the long-term financial stability of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS)? The decision to write the open letter was not made lightly. It was driven by a profound sense of responsibility to the students, faculty, and broader community of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS). These institutions were established with a vision to create world-class educational hubs in Kazakhstan and establish a center of excellence for academic research. Ensuring their financial independence and long-term stability is a core requirement to achieve the two institutions' mission. However, recent developments revealed through state and internal audits have exposed serious breaches of trust. The misuse of funds from entities like the University's Social Development Fund, New Generation Foundation, and Jusan Group directly threatens the sustainability of NU and NIS. These funds were meant to build up and guarantee the financial security of the institutions. Instead, we now see signs of embezzlement, mismanagement, and a concerning lack of accountability. The role played by key figures like the directors and executives of NGF, of Aslan Sarinzhipov (Executive Vice President of NU, a former Minister of Education) and Kadisha Dairova (Vice President for Student Affairs and International Cooperation, Nazarbayev University) only adds to the gravity of the situation. By writing the letter, my goal was to bring transparency to the issue and to mobilize public attention and international scrutiny. NU and NIS were founded on principles of meritocracy, transparency, and academic freedom. If we allow these values to be compromised, we risk undoing more than a decade of progress. The letter serves as a call for accountability, reform, and most importantly, protection of the future of Kazakhstan's youth. - Many students and alumni of NU have expressed their concern over the lowering of admission standards and the shift away from international standards. How do you assess these changes, and do you see them as diverging from the original vision for NU? NU was conceived as a model of excellence , designed to meet international standards in research, teaching, and governance. One of its founding principles was merit-based admission , which ensured that students were selected solely based on their ability and potential. This meritocratic foundation was not only an academic principle but a reflection of NU's mission to transform Kazakhstan's education system. Students, alumni, faculty and staff have worked hard to build NU's name. Now students, alumni and parents are rightly concerned that the lowering of admission standards undermines this mission and risks eroding the university's reputation both domestically and internationally. Such changes create the perception that NU is moving away from its original vision of being a world-class institution. To restore confidence, NU must reaffirm its commitment to international standards, transparency, and academic rigor. Reverting to merit-based admissions and prioritizing excellence will send a clear message that the institution remains steadfast in its mission. In the Open Letter, I stated that in theory, a policy of opening the entry door wider, but then be resolutely strict in terms of progression and graduation based on academic integrity and merit could work. There are some cases globally. However, it can only work if there is a full commitment to integrity and merit, openness and transparency, and NU's original values are upheld. But unfortunately, what I have observed and heard about recent developments at NU does not make me optimistic. While administration is supposedly in a belt-tightening mode, new senior positions were created and filled with scant regard for a proper hiring process and qualification. Conflict of interest and restrictions on hiring family members have been discarded. These are just a few of the institutional changes that will inevitably bleed over into the academic fabric as well. Is this the example that senior management wants to present to our students? - Do you believe the current situation, where the financial foundations like the Social Development Fund and New Generation Foundation were mismanaged, reflects a broader crisis within Kazakhstan's governance and democracy? Absolutely, but to be fair, this corporate governance crisis is not just limited to Kazakhstan . The findings of the internal audit conducted by NU on the Social Development Fund (SDF) reveal a systemic absence of check and balances and accountability that extends beyond these institutions. Mismanagement and theft, such as those involving Aslan Sarinzhipov , have not only undermined NU and NIS but also shaken public trust in Kazakhstan's leadership. The financial institutions linked to NU and NIS—Nazarbayev Fund, New Generation Foundation, and Jusan Group — were designed to guarantee long-term financial stability for education in Kazakhstan , securing the futures of NU and NIS for decades. However, NGF and Jusan Group's systematic depletion and dismantling highlight the country's struggle with accountability and the need for deep structural reform. This mismanagement reflects broader governance failings—particularly a lack of oversight, transparency, and mechanisms to prevent conflicts of interest. I cannot pronounce myself on the current status of the NF, but I would not be surprised if one discovers similar shortcomings there as well. I had called for an audit for some time until my departure but was not successful. The impact extends beyond education, affecting the economic and social fabric of Kazakhstan . Addressing these issues requires not just reforms within these organizations but also a renewed commitment to governance, accountability, and emphasis on establishing the rule of law. - With the financial stability once promised by entities like the NGF now in jeopardy, how do you envision NU's future without those foundational guarantees? The original intent of the Nazarbayev Fund, New Generation Foundation, and Jusan Group was to provide NU and NIS with long-term financial stability. These entities were carefully designed to ensure that Kazakhstan's leading educational institutions could eventually operate in a manner less affected by state budget fluctuations. However, as the audits reveal, these institutions have been systematically mismanaged and looted, jeopardizing the financial future of NU and NIS. NU's survival and success now depend on a bold and transparent strategy. The first step is to rebuild trust with the public, students, and alumni by publishing the findings of both the state audit of NU and the internal audit of SDF. Then, those responsible are held accountable. Financially, NU must re-establish a diversified funding model. This includes rebuilding its endowments and enhancing additional revenue streams, such as a logical and sound tuition policy, executive education and collaboration with industry and business in the form of contract research. Transparency and governance reform will be key to attract donors and investors who believe in NU's mission and potential. - The Supreme Audit Chamber of Kazakhstan , in its state audit, reported the mismanagement of 73.5 billion tenge at Nazarbayev University , as well as allegations of half a billion tenge being used illegally. What is your opinion on this, and how should the university address governance and corruption issues? I have not had the opportunity to access the state audit report, thus it is difficult to comment. If the cited amount in mismanagement of 73.5 billion tenge over six years is true, it is scandalous. However, we do not know what the auditors' definition and criteria of mismanagement is. So, let's first find out what the report actually says. What is clear, however, is the outcome of a 2023 internal audit of NU's Social Development Fund (SDF) , and it is sobering. This SDF audit reveals a blatant disregard of corporate governance principles, where individuals entrusted with university resources prioritized personal gain over the mission of NU. The audit revealed that SDF management led by current NU Executive Vice President Aslan Sarinzhipov constructed an intricate web of subsidiary entities, including abroad, to systematically evade the oversight and control of the University. Funds ( over 14 billion tenge ) meant to assist students and faculty were used for personal gains of Aslan Sarinzhipov and questionable deals. Unfortunately, NU senior officials such as Vice President Kadisha Dairova participated in such schemes. When I voiced my concern earlier over the developments at NU, it is largely because of the track record of senior officials there. For NU to move forward, it must adopt zero-tolerance policies for corruption, demand accountability from those responsible, and reform its governance structures to ensure transparency. - Why do some claim there is a lack of funds for NU and NIS, despite the promises of financial stability from their endowment funds? The claim of a lack of funds is a direct consequence of the systematic looting of resources from the New Generation Foundation and Jusan Group. These entities were explicitly designed to contribute to NU and NIS' long-term financial sustainability against the backdrop of reduced state funding. However, as I described in my Open Letter, these innovative financial structures have been undermined by mismanagement, and outright theft. For instance: Rebuilding financial stability will require recovering stolen assets, reforming governance structures, and restoring public trust through full transparency and accountability. - Given the scale of financial mismanagement, what steps are necessary to ensure accountability for those involved, including senior officials? Accountability must begin with transparency. First, all findings from the audits should be made public, and independent investigations should be conducted to identify those responsible. No individual, regardless of rank or influence, should be above scrutiny. Second, legal consequences must follow where wrongdoing is found. Kazakhstan's legal system must demonstrate its independence and commitment to justice by prosecuting those who exploited these funds. Finally, governance reforms are essential. NU and its associated entities must implement stricter checks and balances, including external audits, whistleblower protections, and oversight committees with independent members. These steps are not just about rectifying past mistakes—they're about ensuring a future where such mismanagement cannot happen again. - The audit findings were just the beginning of uncovering deeper issues. Is there more information you can share about how these financial foundations were exploited and what this means for the future of NU and NIS? The patterns that have emerged—opaque transactions, conflicts of interest, and questionable settlements—are deeply troubling. For instance, the transfer of assets to private hands under unclear terms raises red flags about the intentions behind such decisions. This exploitation puts the futures of NU and NIS at risk. These institutions were designed to be financially independent, insulated from political and economic volatility. The weakening of their financial foundations erodes their ability to deliver on their missions and betrays the trust of the Kazakhstani people, who have invested in these institutions through their taxes. The way forward requires not just recovering lost assets but rebuilding the governance systems that allowed this exploitation to occur. - Nazarbayev University was founded with a mission to serve as a model for higher education in Kazakhstan , supported by funds like those from the Nazarbayev Fund and New Generation Foundation. What was your original vision for the university, and how did these funds play a critical role in realizing that vision? The vision for NU was bold: to create an institution that could compete with the best universities in the world while serving as a model for higher education reform in Kazakhstan . From day one, we envisioned NU as a hub for innovation, research, and leadership development—a place where the brightest minds could come together to solve the challenges of tomorrow. However, one should not forget that universities, in particular research universities, are a long-term endeavor. They are meant to educate and develop generations upon generations of leaders and professionals in a broad range of sectors, and thus contribute to the scientific, economic, and societal wealth of countries. Building a strong institution that can meet the test of time requires long-term and unwavering commitments to foundational values such as integrity, meritocracy, excellence, openness and transparency. But of course, strong financial support from government and other stakeholders is needed, especially in the first decades. Thus, it was understood that NU would be dependent on state funding (through education grants and capital investments) for the initial decades of its existence, while in the meantime it would develop other sources of financing such as through endowment funds, tuition, and contract research. The Nazarbayev Fund, NGF and the Jusan Group were integral parts of this vision. This overall construct allowed us to recruit world-class faculty, develop state-of-the-art facilities, and provide scholarships to talented students, many from underprivileged backgrounds. These resources weren't just financial—they were a vote of confidence in NU's mission and a recognition of the transformative power of education. The loss of these resources is a significant setback, but I do hope that NU can recover. The university must focus on rebuilding trust with its stakeholders—students, faculty, alumni, and the public. This starts with transparency in financial management and governance. Diversifying funding sources will be crucial. This includes rebuilding its endowments, engaging with the philanthropic community, and developing innovative revenue streams. But most importantly, NU must stay true to its mission and values. Financial stability is important, but it must never come at the cost of compromising the university's integrity or academic excellence. Restoring NU's credibility begins with transparency. For instance, the university must share the audit report with stakeholders, and openly address any major shortcomings highlighted in the audit, including financial mismanagement and governance failures. An independent investigation, followed by public disclosure of findings, will demonstrate a commitment to accountability. Next, an affirmation of NU's commitment to its foundational values and principles is needed. Next, institutional reforms are essential. This includes introducing stronger oversight mechanisms for financial and administrative processes, ensuring that governance boards are staffed with individuals of the highest integrity and independence, and that management, faculty and staff are recruited on the basis of transparency and merit. Fourth, NU must recommit itself to its founding mission of academic excellence. This means maintaining rigorous admission standards, prioritizing high-quality faculty recruitment, and fostering research that addresses national and global challenges. And finally, engaging the NU community—students, faculty, alumni, and parents—in shaping the university's path forward is critical. A transparent, inclusive process will rebuild trust and reaffirm NU's position as a leader in higher education. Educational reform is not just critical—it is foundational to Kazakhstan's economic recovery and long-term stability. The pandemic exposed vulnerabilities in education systems worldwide, but it also underscored the importance of adaptability, innovation, and resilience. For Kazakhstan , investing in education means investing in the future. A well-educated population is essential for diversifying the economy, attracting foreign investment, and fostering innovation. Institutions like NU and NIS must lead the way by setting benchmarks for quality and demonstrating the value of education in driving economic progress. Moreover, reform must focus on equity. Expanding access to high-quality education for students from socially vulnerable backgrounds will ensure that economic recovery benefits all segments of society, not just the privileged few. - How do you see the role of institutions like NU and NIS in not only providing quality education but also contributing to economic growth in Kazakhstan , especially when financial stability is threatened? NU and NIS are more than educational institutions—they are catalysts for economic growth and social development. By equipping students with critical thinking skills, technical expertise, and a global perspective, they prepare the workforce needed to diversify Kazakhstan's economy. Their impact extends beyond classrooms. NU's research contributes to solving national challenges in areas like energy, healthcare, and technology. Meanwhile, NIS fosters innovation and leadership at the secondary education level, creating a pipeline of talent that benefits universities and industries alike. To sustain this role, NU and NIS must secure their financial stability. This includes strengthening governance, diversifying funding sources, and forging partnerships with the private sector and international organizations. These institutions are vital to Kazakhstan's future, and their success is intertwined with the country's broader economic ambitions. - Could the model used by NU and supported by the Nazarbayev Fund be applied in other countries, or does it require a uniquely Kazakh approach to work effectively? The NU model is innovative, but its core principles—integrity, meritocracy, autonomy, and a focus on global best practices—are universally applicable. Many countries could benefit from establishing institutions that prioritize excellence and align with international standards. That said, successful implementation depends on adapting the model to local contexts. Kazakhstan's approach benefited from strong initial financial and political backing, and a vision that emphasized independence from political and state bureaucratic interference. Replicating this requires careful consideration of governance structures, funding mechanisms, autonomy and other values, and cultural factors. In countries where philanthropic traditions or financial resources are limited, the model may need to rely more on public-private partnerships or international collaborations. Ultimately, the NU experience demonstrates that ambitious goals in education are achievable with the right vision, leadership, and long-term commitment support. - What lessons do you hope others will learn from the experience of the NGF, Jusan Bank , and the financial turmoil at NU? The story of NU and its financial affiliates offers a critical lesson: no institution, no matter how noble its mission, is immune to mismanagement and corruption without strong governance. NU and NIS' financial pillars, namely the Nazarbayev Fund, NGF, Jusan Group, but also the SDF and NIS' Corporate Development Fund were designed to guarantee long-term financial sustainability, yet their exploitation demonstrates how quickly trust can be eroded when transparency and accountability are neglected. For any endowment fund or financial institution, the following lessons are clear: NU's experience is a cautionary tale but also an opportunity. By addressing these failures head-on, NU can emerge as a model for how institutions can learn from adversity and rebuild stronger than before. View original content to download multimedia: https://www.prnewswire.com/news-releases/nazarbayev-university-crisis-shigeo-katsu-demands-audit-transparency-302338886.html SOURCE EU Reporter
Check out the report card from Nebraska's 44-25 win against Wisconsin on Saturday at Memorial Stadium. Who can name Nebraska's last 100-yard rusher in a game, before Emmett Johnson achieved the feat Saturday? Johnson ran like he had something to prove, repeatedly shedding the first Badger to get to him. His best run of the day may have been a 19-yard burst in the third quarter when he patiently followed pulling linemen Ben Scott and Henry Lutovsky. Dante Dowdell has a knack for the end zone, scoring three times. (Trivia answer: Chubba Purdy ... against Wisconsin last year). Dylan Raiola has his rhythm back. He spent most of the game hovering around a 70 percent completion rate, which is reminiscent of his first four or five games. The ball is getting out of his hands quicker, and those pitch-and-catches are finally going for big gains. One of his best throws of the day was originally ruled a touchdown on a fade ball to Isaiah Neyor, but replay confirmed he didn't get a foot down. Jahmal Banks had a great TD snag in which he leaped, snared the ball and got his toes down. John Bullock's second tackle for loss of the game stopped Wisconsin's Tawee Walker on fourth-and-1 midway through the third quarter, and it felt like an early dagger for the home team. Bullock was a standout on senior day. The Huskers had some open-field tackling issues but held their own on third- and fourth-down situations. Darrion Dupree was a nice change-of-pace option for the Badgers, averaging 7.5 yards on his seven attempts. Wisconsin found success early on slant passes, including one that went to Vinny Anthony for 42 yards after Isaac Gifford whiffed on a tackle. After that, Braedyn Locke was able to open it for deep balls, including touchdown tosses of 24 and 58 yards. Wisconsin's Vinny Anthony had a big day, racking up six catches for 128 yards and Locke threw for more yards than he has in his past five games. A cool moment for DeShon Singleton, who came down with an interception in his final game at Memorial Stadium. Brian Buschini is having a great season, and Saturday was another notch on his belt. First, he ripped a 52-yard punt that flipped field possession, and he followed that up with a 49-yard boot that went out of bounds at the Wisconsin 3-yard line. Equally as impressive was kicker John "ol' reliable" Hohl, who made all three of his field goals and stayed clean on extra points. Oh, and how about Jacory Barney's 55-yard kick return to open the game? NU's third phase is trending up after a turbulent stretch. A question we might not ever get an answer to: Why was Matt Rhule forced to use a challenge to review Wisconsin's first-quarter touchdown? Don't all scoring plays get reviewed automatically? In a similar situation later in the game, Wisconsin was spared from using a challenge for officials to take another look at a Nebraska touchdown, which was reversed. Also, the unsportsmanlike conduct penalty on Micah Mazzccua for spiking the ball on a touchdown felt unnecessary. Nebraska scored a touchdown on its first possession of a game for the first time since the Northern Iowa game. A true tone-setter. There's plenty to unpack from Holgorsen's play sheet — it's no coincidence it only took him two games to pop a 100-yard rusher. And, 44 points for a team that has scored 20 (twice), 17, 7 and 14 in its past five games. That'll do. For the first time in 49 days, Nebraska won a football game. That was a long 49 for everyone involved. This one is a little more cathartic than usual, too, as the Huskers finally wrapped their arms around a bowl berth. It also takes a big bite out of the pressure NU faces on Black Friday vs. Iowa, which is no longer a "must-win."Article content Vehicles from the Ineos brand are laden with off-road chops and a dose of swaggering style – so when the brand chooses to build a one-off beast, it shouldn’t be surprising that the result is literally named after a giant creature. Called the Kaiju, which means ‘monster’ in Japanese, this blacked-out 4×4 is based on the Ineos Grenadier Quartermaster and has a commanding presence – plus a raft of customized gear. The rig was built in partnership with third-party accessory suppliers from Australia, such as Norweld and Rhino-Rack. Equipment includes the likes of a canopy designed to handle extreme conditions while retaining a skiff of lightweight construction. Onboard are a 40-litre water tank, an electrical system capable of handling a 2000 watt inverter, and a 150Ah lithium-ion battery. Fridge, jerry can holders – it’s all there save for the kitchen sink, and that might be in there too if ya look hard enough. In other words, it teams up with Oz-based suppliers to handle the Aussie outback. A bevy of practical products are also part of the install. Each corner is fitted with 315-section BF Goodrich KM3 mud terrain tires plus a custom suspension including remote reservoir electric shocks from a company called JMACX out of – you guessed it – Australia. If drivers do somehow manage to get this thing stuck, Maxtrax recovery boards are standing by along with a host of auxiliary lighting. Driving through the Outback is not for the faint of heart or short of fuel, explaining the presence of a 168-litre long range fuel tank kit in addition to the 90-L stock tank. In true Oz form, there is also a so-called Roo Bar on the front of this thing plus some rock sliders (and checkered plating for a dose of style). Other stock equipment from the Trialmaster Edition on which this build is based includes a raised air intake and front/rear diff lockers. Sign up for our newsletter Blind-Spot Monitor and follow our social channels on Instagram , Facebook and X to stay up to date on the latest automotive news, reviews, car culture, and vehicle shopping advice.
Former Tulane quarterback Darian Mensah has already found a new program in Duke, while Mississippi State's Michael Van Buren Jr., Wisconsin's Braedyn Locke and Cal's Fernando Mendoza are exploring changes of their own in the transfer portal. Mensah, a redshirt freshman with three years of eligibility remaining, told ESPN on Wednesday he has transferred to Duke. He attended the Blue Devils men's basketball game against Incarnate Word on Tuesday night. The Blue Devils (9-3) will face Mississippi in the Gator Bowl, but without 2024 starting quarterback Maalik Murphy and backup Grayson Loftis, who also entered the portal. Mensah, viewed as one of the top players in the portal, threw for 2,723 yards and 22 touchdowns and completed 65.9% of his passes. He led the Green Wave to a 9-4 record and the American Athletic Conference championship game, where they lost 35-14 to Army. Tulane will play Florida in the Gasparilla Bowl on Sunday. Van Buren, Mendoza and Locke announced on social media they had entered the portal. Van Buren started eight games as a true freshmen for the Bulldogs. He threw for 1,886 yards on 55% passing with 16 total touchdowns and seven interceptions for the Bulldogs (2-10, 0-8 Southeastern Conference). He took over as the starter when Blake Shapen suffered a season-ending shoulder injury in a 45-28 loss to Florida on Sept. 21. Shapen has said he plans to return next season. Van Buren, a 6-foot-1, 200-pound passer from St. Frances Academy in Maryland, had two 300-yard performances for the Bulldogs, including 306 yards and three touchdown passes in a 41-31 road loss against Georgia. Mendoza threw for 3,004 yards in 2024 with 16 TDs, six interceptions and a 68.7 completion percentage. "For the sake of my football future this is the decision I have reached," he posted. Locke passed for 1,936 yards with 13 touchdowns and 10 interceptions for Wisconsin this season. He said he will have two years of eligibility remaining at his next school. ANN ARBOR, Mich. — Michigan cornerback Will Johnson has joined defensive tackle Mason Graham in the NFL draft. Johnson declared for the draft on Wednesday, one day after Graham decided he would also skip his senior season with the Wolverines. Both preseason All-America players are expected to be first-round picks. Johnson was limited to six games this year due to an injury. He had two interceptions, returning them both for touchdowns to set a school record with three scores off interceptions. Johnson picked off nine passes in three seasons. Graham played in all 12 games this season, finishing with 3 1/2 sacks and seven tackles for losses. He had 18 tackles for losses, including nine sacks, in his three-year career. Tennessee running back Dylan Sampson is The Associated Press offensive player of the year in the Southeastern Conference and South Carolina defensive lineman Kyle Kennard is the top defensive player. Vanderbilt quarterback Diego Pavia was voted the top newcomer on Wednesday while the Gamecocks' Shane Beamer is coach of the year in voting by the panel of 17 media members who cover the league. Sampson led the SEC and set school records by rushing for 1,485 yards and 22 touchdowns. He is tied for third nationally in rushing touchdowns, recording the league's fifth-most in a season. Sampson was chosen on all but two ballots. Mississippi wide receiver Tre Harris and his quarterback, Jaxson Dart, each got a vote. Kennard led the SEC with 11-1/2 sacks and 15-1/2 tackles for loss. He also had 10 quarterback hurries and forced three fumbles. Beamer led the Gamecocks to just their fifth nine-win season, including a school-record four wins over Top 25 opponents. They've won their last six games and ended the regular season with a win over eventual ACC champion Clemson. South Carolina plays Illinois on Dec. 31 in the Citrus Bowl. Pavia helped lead Vandy to its first bowl game since 2018 after transferring from New Mexico State. He passed for 2,133 yards and 17 touchdowns with four interceptions. He ran for another 716 yards and six touchdowns, directing an upset of Alabama. AMES, Iowa — Matt Campbell, who led Iowa State to its first 10-win season and became the program's all-time leader in coaching victories, has agreed to an eight-year contract that would keep him with the Cyclones through 2032. University president Wendy Wintersteen and athletic director Jamie Pollard made the announcement Wednesday, four days after the Cyclones lost to Arizona State in the Big 12 championship game. “Given all the uncertainty currently facing college athletics, it was critical that we moved quickly to solidify the future of our football program,” Pollard said. “Matt is the perfect fit for Iowa State University and I am thrilled he wants to continue to lead our program. Leadership continuity is essential to any organization’s long-term success." The Cyclones won their first seven games for their best start since 1938 and are 10-3 heading into their game against Miami in the Pop Tarts Bowl in Orlando, Florida, on Dec. 28. BRIEFLY FLAG PLANT: Ohio Republican state Rep. Josh Williams said Wednesday on social media he's introducing a bill to make flag planting in sports a felony in the state. His proposal comes after the Nov. 30 fight at the Michigan-Ohio State rivalry football game when the Wolverines beat the Buckeyes 13-10 and then attempted to plant their flag at midfield. MALZAHN: Gus Malzahn, who resigned as UCF’s coach last month to become Mike Norvell’s offensive coordinator at Florida State, said he chose to return to his coaching roots rather than remain a head coach distracted by a myriad of responsibilities. Get local news delivered to your inbox!Pathstone Holdings LLC lessened its holdings in shares of Tyler Technologies, Inc. ( NYSE:TYL – Free Report ) by 0.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,841 shares of the technology company’s stock after selling 38 shares during the quarter. Pathstone Holdings LLC’s holdings in Tyler Technologies were worth $5,744,000 as of its most recent filing with the Securities and Exchange Commission. Several other hedge funds and other institutional investors have also made changes to their positions in TYL. APG Asset Management N.V. raised its stake in Tyler Technologies by 1.4% during the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after acquiring an additional 20,842 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Tyler Technologies by 15.3% during the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares in the last quarter. Swedbank AB acquired a new stake in Tyler Technologies in the second quarter worth about $251,390,000. Price T Rowe Associates Inc. MD grew its position in Tyler Technologies by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after buying an additional 65,814 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after buying an additional 307,498 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds. Analysts Set New Price Targets A number of brokerages have recently weighed in on TYL. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. JMP Securities lifted their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Needham & Company LLC lifted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, BTIG Research upped their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62. Tyler Technologies Stock Performance Tyler Technologies stock opened at $609.09 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The firm’s 50 day simple moving average is $594.68 and its 200-day simple moving average is $550.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $26.07 billion, a P/E ratio of 111.15, a price-to-earnings-growth ratio of 5.41 and a beta of 0.77. Tyler Technologies ( NYSE:TYL – Get Free Report ) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current year. Insider Activity at Tyler Technologies In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link . Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Over the last ninety days, insiders have sold 27,600 shares of company stock valued at $16,412,595. Company insiders own 2.20% of the company’s stock. Tyler Technologies Company Profile ( Free Report ) Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management. Recommended Stories Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. ( NYSE:TYL – Free Report ). 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Seven ETSU Alumni, leaders honored at 2024 Alumni Awards
Local charities split $80K donation from LSTAR
Hastings man arrested for attempting to entice sex from two minors
Homeland Security shares new details of mysterious drone flights over New Jersey, lawmaker says A New Jersey lawmaker from part of the state where several mysterious drones have been spotted in recent week says the devices appear to avoid detection by traditional methods. Assemblywoman Dawn Fantasia was among state officials who met Wednesday with representatives from the Department of Homeland Security. She says lawmakers were told the drones have dodged detection by helicopters and radio. Fantasia says DHS described the devices as up to 6 feet in diameter and sometimes traveling with their lights off. The Morris County Republican made the comments in a post on X shortly after she and several other state and local lawmakers met with state police and Homeland Security officials. Donald Trump will ring the New York Stock Exchange bell as he's named Time's Person of the Year NEW YORK (AP) — President-elect Donald Trump is expected to ring the opening bell at the New York Stock Exchange for the first time and be named Time magazine's Person of the Year. Thursday's events will be a notable moment of twin recognitions for Trump, a born-and-bred New Yorker who has long seen praise from the business world and media as a sign of success. Four people with knowledge of his plans told The Associated Press that Trump was expected to be on Wall Street on Thursday to mark the ceremonial start of the day's trading, while a person familiar with the selection confirmed that Trump had been selected as Time's Person of the Year. Rape allegation against Jay-Z won’t impact NFL's relationship with music mogul, Goodell says IRVING, Texas (AP) — NFL Commissioner Roger Goodell says a rape allegation against rapper Jay-Z won’t impact the NFL's relationship with the music mogul. Jay-Z's company Roc Nation has produced some of the NFL’s entertainment presentations including the Super Bowl halftime show. A woman who previously sued Sean “Diddy” Combs alleging she was raped at an awards show after-party in 2000 amended the lawsuit Sunday to include an allegation that Jay-Z was also at the party and participated in the sexual assault. Jay-Z says the rape allegation made against him is part of an extortion attempt. The NFL teamed up with Jay-Z’s Roc Nation in 2019 for events and social activism. The league and the entertainment company extended their partnership a few months ago. Ohio politician proposes make flag planting a felony after fight in Michigan rivalry game An Ohio politician has seen enough flag planting. Republican state Rep. Josh Williams said Wednesday on social media he's introducing a bill to make flag planting in sports a felony in the state. His proposal comes after the Nov. 30 fight at the Michigan-Ohio State rivalry football game when the Wolverines beat the Buckeyes 13-10 and then attempted to plant their flag at midfield. A fight ensued and police had to use pepper spray to disperse the players. Former Oklahoma quarterback Baker Mayfield famously planted a flag in the middle of the field at Ohio State after the Sooners beat the Buckeyes in 2017. Gastineau confronts Favre in documentary for his 'dive' on Strahan's record-breaking sack Former New York Jets star Mark Gastineau confronted Brett Favre last year at a memorabilia show and angrily accused the Pro Football Hall of Fame quarterback of deliberately going down on a record-breaking sack. The tense exchange is shown in the new ESPN 30 for 30 documentary “The New York Sack Exchange." It chronicles the Jets’ fearsome foursome defensive line of the 1980s that included Gastineau. Gastineau set an NFL record with 22 sacks in 1984, but Pro Football Hall of Famer Michael Strahan broke the mark when he sacked Favre in 2002 in a game between the Giants and Packers. Many have accused Favre of purposely taking the sack so Strahan could set the single-season record with 22 1/2. What happens next with Alex Jones' Infowars? No certainty yet after sale to The Onion is rejected Lawyers in the Alex Jones bankruptcy case are now in discussions on what could happen next after a federal judge in Texas rejected the auction sale of Jones’ Infowars to The Onion satirical news outlet. The next steps remained unclear Wednesday as the judge ordered the trustee who oversaw the auction to come up with a new plan. Judge Christopher Lopez in Houston rejected the bid late Tuesday, saying there was too much confusion about The Onion’s bid. The bankruptcy case was in the wake of the nearly $1.5 billion that courts have ordered Jones to pay for calling the Sandy Hook Elementary School shooting in Connecticut a hoax. Sandy Hook families had backed The Onion’s bid. NFL and Nike extend their partnership with a 10-year deal, will focus on growing the sport globally IRVING, Texas (AP) — The NFL’s desire to become a global powerhouse is no secret. Nike is committed to helping the league continue expanding its worldwide reach. The league and the apparel giant announced Wednesday a 10-year partnership extension. The NFL and Nike will focus on working together to grow the game’s global reach, increase participation, develop new talent, and expand the football fan base. Nike, the world’s largest supplier of athletic shoes and apparel, has been the NFL’s exclusive provider of uniforms and sideline, practice and base layer apparel for all 32 NFL teams for 12 years. George Kresge Jr., who wowed talk show audiences as the The Amazing Kreskin, dies at age 89 NEW YORK (AP) — George Joseph Kresge Jr., otherwise known to TV watchers as the mesmerizing entertainer and mentalist The Amazing Kreskin, has died at age 89. Kreskin’s friend and former road manager, Ryan Galway, says he died Tuesday at his home in Caldwell, New Jersey. Kreskin launched his television career in the 1960s and remained popular for decades, appearing with everyone from Merv Griffin to Johnny Carson to Jimmy Fallon. Fans would welcome, if not entirely figure out, his favorite mind tricks — whether correctly guessing a playing card chosen at random, or, most famously, divining where his paycheck had been planted among the audience. He also hosted a show in the 1970s, gave live performances and wrote numerous books. Albertsons sues Kroger for failing to win approval of their proposed supermarket merger Kroger and Albertsons’ plan for the largest U.S. supermarket merger in history has crumbled. The two companies have accused each other of not doing enough to push their proposed alliance through, and Albertsons pulled out of the $24.6 billion deal on Wednesday. The bitter breakup came the day after a federal judge in Oregon and a state judge in Washington issued injunctions to block the merger, saying that combining the two grocery chains could reduce competition and harm consumers. Albertsons is now suing Kroger, seeking a $600 million termination fee, as well as billions of dollars in legal fees and lost shareholder value. Kroger says the legal claims are “baseless.” Keynote Selena Gomez spotlights prioritizing mental health during Academy Women's Luncheon LOS ANGELES (AP) — While surveying a room packed with Hollywood’s most influential figures, “Emilia Pérez” star Selena Gomez took center stage at the Academy Women’s Luncheon to spotlight a critical issue: Prioritizing mental health and supporting underserved communities often left behind in the conversation. The singer-actor has been public about her mental health struggles, revealing she had been diagnosed with bipolar disorder. Gomez was the keynote speaker Tuesday at the event held at the Academy Museum of Motion Pictures with attendees including Ariana Grande, Olivia Wilde, Amy Adams, Pamela Anderson, Rita Wilson, Ava DuVernay and Awkwafina.
NoneKellanova ( NYSE:K – Get Free Report ) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website . Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC. Kellanova Price Performance Kellanova stock opened at $81.17 on Friday. The business has a 50 day simple moving average of $80.77 and a 200 day simple moving average of $70.58. Kellanova has a one year low of $51.02 and a one year high of $81.34. The company has a market capitalization of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova ( NYSE:K – Get Free Report ) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year. Kellanova Dividend Announcement Wall Street Analysts Forecast Growth A number of research firms have recently issued reports on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on Kellanova in a research report on Wednesday. They issued a “hold” rating for the company. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Wells Fargo & Company increased their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $76.35. Check Out Our Latest Research Report on K Institutional Investors Weigh In On Kellanova A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC raised its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds. Kellanova Company Profile ( Get Free Report ) Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles. Further Reading Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter .
Hyderabad police arrest couple for stealing valuables, cash
China set to narrow digital divide
In a major breakthrough in thermal energy storage (TES) systems, a team of researchers at Rice University in Texas has developed an efficient thermal emitter. The component is critical for TES systems, which store power as heat and convert it back into electricity when needed. The new thermal emitter has shown an impressive efficiency rate of 60%, marking a major step forward in sustainable energy storage solutions. TES systems: A sustainable alternative to batteries TES systems provide a more sustainable alternative to traditional batteries, which are typically manufactured from scarce minerals and can leach harmful chemicals into the environment. TES systems, on the other hand, utilize low-cost materials and last longer than batteries. They also offer a scalable solution for grid-sized systems, making them an ideal candidate for stabilizing renewable energy grids by storing excess solar or wind power and supplying it during peak demand periods. The role of thermal emitters in TES systems The thermal emitter is an integral part of TES systems. It absorbs heat, converts it into electromagnetic radiation, and captures it with a photovoltaic cell to produce electricity. "This system involves two main components - photovoltaic (PV) cells that convert light into electricity and thermal emitters that turn heat into light," the Rice University team explained. They stressed both these components should work efficiently for the system to work. Overcoming energy losses with efficient thermal emitters The main problem in creating viable thermophotovoltaic (TPV) systems is the energy losses during conversion. This problem can be solved with an efficient thermal emitter, something that has been somewhat ignored in past studies. "Using conventional design approaches limits thermal emitters' design space," said Gururaj Naik, a study co-author and associate professor at Rice University. He added that traditional TPV designs often lead to either practical but low-performance devices or high-performance emitters that are difficult to integrate into real-world applications. Quantum-inspired thermal emitter: A game-changer in TES systems The Rice University team's quantum-inspired thermal emitter could revolutionize TES systems. The researchers placed hundreds of silicon nanocylinders on a tungsten metal sheet to develop this novel thermal detector. When heated, the system emits photons that are absorbed by these nanocylinders serving as resonators. "This selective emission, achieved through insights from quantum physics, maximizes energy conversion and allows for higher efficiencies than previously possible," the study authors noted.
Robert W. Baird Issues Positive Forecast for Palo Alto Networks (NASDAQ:PANW) Stock Price