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By JILL COLVIN NEW YORK (AP) — President-elect Donald Trump wants to turn the lights out on daylight saving time. In a post on his social media site Friday, Trump said his party would try to end the practice when he returns to office. “The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn’t! Daylight Saving Time is inconvenient, and very costly to our Nation,” he wrote. Setting clocks forward one hour in the spring and back an hour in the fall is intended to maximize daylight during summer months, but has long been subject to scrutiny. Daylight saving time was first adopted as a wartime measure in 1942. Lawmakers have occasionally proposed getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the Sunshine Protection Act , had proposed making daylight saving time permanent. The measure was sponsored by Florida Sen. Marco Rubio , whom Trump has tapped to helm the State Department. Related Articles National Politics | Ruling by a conservative Supreme Court could help blue states resist Trump policies National Politics | A nonprofit leader, a social worker: Here are the stories of the people on Biden’s clemency list National Politics | Nancy Pelosi hospitalized after she ‘sustained an injury’ on official trip to Luxembourg National Politics | Veteran Daniel Penny, acquitted in NYC subway chokehold, will join Trump’s suite at football game National Politics | About 3 in 10 are highly confident in Trump on Cabinet, spending or military oversight: AP-NORC poll “Changing the clock twice a year is outdated and unnecessary,” Republican Sen. Rick Scott of Florida said as the Senate voted in favor of the measure. Health experts have said that lawmakers have it backward and that standard time should be made permanent. Some health groups , including the American Medical Association and American Academy of Sleep Medicine, have said that it’s time to do away with time switches and that sticking with standard time aligns better with the sun — and human biology. Most countries do not observe daylight saving time. For those that do, the date that clocks are changed varies, creating a complicated tapestry of changing time differences. Arizona and Hawaii don’t change their clocks at all.
Share Tweet Share Share Email Contracts are the backbone of business operations, defining relationships, setting expectations, and ensuring compliance. Yet, managing contracts can be a daunting task for organizations of all sizes. From drafting and reviewing to storage and compliance, every step in the contract lifecycle demands precision, time, and resources. Enter AI-based affordable contract lifecycle management (CLM) software. By harnessing the power of artificial intelligence, businesses can now streamline contracts with affordable contract management software , ensuring efficiency, compliance, and cost-effectiveness. Understanding the Contract Lifecycle Management Process Before diving into the capabilities of AI-driven solutions, it’s crucial to learn contract lifecycle management process . This process typically includes several stages: Initiation : Identifying the need for a contract and defining its purpose and terms. Drafting : Creating the initial version of the contract using templates or custom clauses. Review and Negotiation : Collaborating with stakeholders to finalize the terms and make necessary adjustments. Approval : Securing internal and external approvals to move forward with the agreement. Execution : Signing the contract, often using electronic signature solutions. Storage and Retrieval : Safely storing the executed contract in a centralized repository for easy access. Compliance and Renewal : Monitoring the contract’s obligations, deadlines, and renewal opportunities to ensure ongoing compliance. Each of these stages requires careful attention, and manual processes can lead to delays, errors, and even missed opportunities. This is where AI-powered CLM software steps in to transform the way businesses manage contracts. Why Choose AI-Based CLM Software? AI-based CLM software brings automation, intelligence, and affordability to contract management. Here’s how: Automation of Repetitive Tasks : AI automates mundane tasks such as drafting, data entry, and template management. By reducing manual input, businesses save time and reduce the risk of human error. Intelligent Data Extraction : AI can analyze contracts for key data points, obligations, and risks. Tools like SysIntellects Document Data Intelligence offer advanced capabilities to extract and organize critical information from complex documents, making it easier to track and act upon key contract terms. Cost Efficiency : AI-powered solutions eliminate the need for large legal teams or external consultants. Affordable contract management software ensures that even small and medium-sized enterprises can benefit from robust CLM processes without straining their budgets. Scalability : Whether you’re managing ten contracts or ten thousand, AI-based CLM systems can scale effortlessly to meet your needs. Enhanced Compliance and Risk Management : By automatically flagging non-compliant clauses and monitoring deadlines, AI helps businesses stay ahead of risks and maintain regulatory compliance. Core Features of AI-Based Affordable CLM Software Modern CLM solutions incorporate a host of features that cater to businesses’ diverse needs: 1. Centralized Contract Repository Storing contracts in a single, searchable database ensures quick access and secure management. 2. AI-Powered Analytics Advanced analytics tools provide insights into contract performance, risks, and opportunities. AI algorithms can identify patterns and suggest improvements in negotiation strategies. 3. Template Libraries Pre-approved templates and clauses speed up the drafting process while maintaining legal integrity. 4. Real-Time Collaboration Tools Collaborate seamlessly with internal teams and external stakeholders to finalize contracts without endless email chains. 5. Workflow Automation Automated workflows guide contracts through review, approval, and execution phases, ensuring no step is missed. 6. Smart Alerts and Notifications Never miss a deadline with AI-generated alerts for contract renewals, terminations, or compliance reviews. 7. Integration Capabilities Many AI-based CLM tools integrate with existing systems such as ERP, CRM, and eSignature platforms for a seamless experience. Streamlining Contracts with Affordable Contract Management Software Streamlining contracts is not just about saving time—it’s about creating a smoother, error-free process that drives better business outcomes. Here’s how affordable contract management software can help: Faster Turnaround Times : With pre-built templates and AI-assisted drafting, contracts move from initiation to execution in record time. Reduced Errors : AI algorithms detect inconsistencies, missing clauses, and ambiguities in contracts, ensuring higher accuracy. Improved Visibility : A centralized dashboard provides a real-time overview of all contract activities, enabling informed decision-making. Enhanced Stakeholder Collaboration : Role-based access ensures that the right people have the right information at the right time. The Role of SysIntellects Document Data Intelligence SysIntellects Document Data Intelligence is a game-changer in contract management. By leveraging AI and machine learning, this tool provides unparalleled capabilities to extract, analyze, and manage data from complex documents. Here’s how it adds value: Advanced Data Extraction : Extract key terms, obligations, and financial data from lengthy contracts with minimal manual intervention. Risk Identification : Highlight risky clauses or terms that deviate from standard practices. Customizable Reports : Generate tailored reports to meet specific business or regulatory requirements. Seamless Integration : SysIntellects integrates with existing contract management tools, providing a cohesive ecosystem for document and data management. By combining affordability with cutting-edge AI technology, SysIntellects enables businesses to elevate their contract management strategies without breaking the bank. Real-World Benefits of AI-Driven CLM Software Here are a few examples of how AI-based CLM solutions can benefit organizations: Case Study 1: Small Business Growth A small IT consultancy implemented affordable contract management software to manage its growing client base. By automating contract drafting and using AI to monitor compliance, the business cut its contract turnaround time by 50%, enabling faster client onboarding. Case Study 2: Enhanced Risk Management A mid-sized manufacturing company leveraged AI analytics to identify risks in supplier contracts. SysIntellects Document Data Intelligence flagged non-compliant clauses, helping the company avoid costly legal disputes. How to Get Started Transitioning to an AI-based CLM solution is easier than you think. Follow these steps: Identify Your Needs : Evaluate your current contract management challenges and define your priorities. Research Solutions : Look for affordable CLM software that offers the features and scalability your business requires. Leverage AI Tools : Explore platforms like SysIntellects for advanced document data intelligence. Plan Your Implementation : Develop a roadmap for migrating existing contracts and training your team. Final Thoughts AI-based contract lifecycle management software is no longer a luxury—it’s a necessity for businesses that want to stay competitive in today’s fast-paced world. By adopting affordable solutions, you can streamline contracts with affordable contract management software, improve efficiency, and mitigate risks. Whether you’re looking to learn the contract lifecycle management process or seeking advanced tools like SysIntellects Document Data Intelligence , investing in AI-driven CLM software is a step toward smarter, faster, and more reliable contract management. Are you ready to transform the way you manage contracts? The future of contract management is here—embrace it today! Read More From Techbullion Related Items: management , software Share Tweet Share Share Email Recommended for you Corporate Banking Solutions: Enhancing Enterprise Financial Services Credit Score Monitoring Solutions: Staying Ahead of Financial Risks Mastering Personal Financial Management: Tools and Strategies to Boost Your Financial Health Comments
Freeport-McMoRan Inc. stock outperforms competitors despite losses on the day
Nagpur: Advocating a collaboration for artificial intelligence (AI) and journalism, Brijesh Singh , principal secretary to chief minister Devendra Fadnavis and director general of information and public relations on Wednesday delivered a talk on AI and journalism and Patrakar Club. Terming it as the future, Singh also called for a legal framework on the usage of artificial intelligence. Describing AI as a ‘wild horse that needs taming', Singh urged media professionals to be "AI-augmented, not AI-disrupted." Drawing an analogy to fire, he explained how AI, like fire, could be a constructive or destructive force, depending on its use. He acknowledged that while traditional newspapers and TV remain vital, the shift to digital mediums has necessitated adaptation, citing the example of e-papers and online content. Mentioning the statistical research done by TOI during the pandemic, he lauded how the numbers were presented in a graphical form. "While compiling all that data would have been time-taking then, now it can be done within seconds with AI," Singh said. He cautioned that concerns about job losses due to new technology are common, but history has shown that technology creates new opportunities. "AI will reduce your manual labour, so instead of running away from it, one should embrace it," he said. Highlighting the absence of India-specific AI tools, Singh remarked, "I urge media houses to collaborate with academic institutions so that we have our country-specific AI." He further emphasised the importance of accountability, stating, "All AI-generated material should have a watermarked tag." He highlighted the basic difference between content on social media, adding, news platforms like newspapers and TV is its truth value. Former state information commissioner Rahul Pande said that AI is a great enabler. However, he added that it is also a double-edged sword and needs to be used with caution. "We need to support language empowerment with the use of technology," Pande said, urging for AI to be developed specifically for Indian local languages. Patrakar Club president Pradeep Maitra and Kishore Gangode, Marathwada divisional director, were also present. The event, which was also streamed live on Youtube was attended by several media personnel and officials of the DGI PR. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .Passengers on Surat-Bangkok flight finish entire stock of liquor, snacks, drink 15 litre alcohol worth Rs...NEW YORK (AP) — Stocks slipped in afternoon trading Friday as Wall Street closes out a rare bumpy week. The S&P 500 fell 0.2%, and is on track for a loss for the week after three straight weekly gains. The Dow Jones Industrial Average fell 81 points, or 0.2% to 43,833 as of 12:56 p.m. Eastern time. The Nasdaq fell 0.3% and is hovering around its record. Broadcom surged 20.2% after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 14.3% after raising its forecast for revenue growth for the year. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.39% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.
Report: Iowa CB Jermari Harris opts out of rest of seasonThe year 2024 marked a significant phase of multi-dimensional growth for Chennai, according to the Greater Chennai Corporation. The city made notable progress, thanks to several development initiatives spanning urban beautification, infrastructure upgrades, and environmental improvement. However, education is a major concern, with the progress of the initiatives under the State Finance Commission (SFC) scheme lagging behind other development projects. This highlights the need for more attention to equitable growth of all sectors. The education sector has not made the same level of progress as Singara Chennai 2.0 and the Capital Fund that received substantial funds. Data from the civic body reveal that of the ₹30 crore earmarked for building 19 schools under the SFC scheme, only one was completed by the end of the year, with 18 projects still in progress. Similarly, the refurbishment of 142 schools under the same scheme, at a cost of ₹35 crore, remains incomplete, pointing to delays in improving the city’s educational infrastructure. Special classes and martial arts But many other initiatives made substantial progress. Mayor R. Priya notes that the Corporation has been pursuing several programmes such as special classes for children, martial arts training, and French lessons. These initiatives are designed to offer additional learning opportunities to students, helping them gain new skills and expand their educational horizons, she adds. Urban renewal As for urban renewal, 55 park development projects were undertaken with funds sanctioned under Singara Chennai 2.0 (₹11.8 crore) and the Capital Fund (₹12.7 crore). These projects are meant to revitalise public spaces, increase green areas, and create recreational spaces. A sponge park was completed, and the other projects are still in progress. These projects are expected to contribute to the city’s environmental sustainability and improve the quality of life for its citizens. No STEM park yet Moreover, plans were announced for the establishment of STEM parks under the Capital Fund scheme. But no project has been initiated, despite the allocation of ₹5.75 crore. The STEM parks are expected to be hubs for technological innovation and research, providing young minds with a conducive environment to explore science, technology, engineering, and mathematics. Infra boost Improving the infrastructure was a major concern for the civic body. Five community halls and 40 other buildings, including schools, fish markets, Amma Unavagams (community canteens), crematoria, and animal shelters, are under construction. These projects, funded by Singara Chennai 2.0 and the Capital Fund, had a combined budget of ₹64.59 crore. The development of community spaces is crucial for supporting social welfare, offering venues for local events and improving the overall living standards. Significant progress was also made with the completion of 75 projects at an estimated cost of ₹360.47 crore. These projects included the construction of 30 community halls under Singara Chennai 2.0, seven LPG crematoria funded under the Capital Fund, and 20 Urban Primary Health Centres funded under the National Health Mission. While many of these projects are ongoing, they reflect the civic body’s commitment to improving healthcare, social welfare, and public infrastructure. Several projects under the Vada Chennai Development Scheme remained stalled. They included the construction of schools, fish markets, and buildings for auxiliary nurse midwives. The delay highlights the need for effective management of the projects. The Corporation launched 493 projects across sectors in 2024 at an estimated cost of ₹279.5 crore. These projects cover a wide range of needs, from health walkways (₹26.53 crore) and improvement to footpaths (₹7.28 crore) to the beautification of the city with the installation of gantry sign boards and the replacement of street name fascia. Notably, the refurbishment of 148 schools at a cost of ₹84.11 crore and the construction of 291 Amma Unavagams at a cost of ₹17.74 crore are aimed at addressing the welfare and educational needs of the residents. Environmental projects The Corporation also took up environmental projects, with ₹18.18 crore allocated for restoration and rejuvenation of 12 waterbodies. These projects are critical for improving water retention, combating floods, and enhancing the city’s ecological health. The Blue Flag beach project on the Marina Beach, on a budget of ₹6 crore, is aimed at meeting international standards for beach management and environmental sustainability, thus enhancing the city’s appeal as a tourist destination. Stormwater drains Another significant project covered stormwater management, with 121.03 m of drains being completed under various schemes. This accounted for 55.3% of the total 219.98 m of drains planned. Major contributions came from the Kosasthalaiyar Basin Project, under which 62.55 m of stormwater drains were completed, and the Kovalam Basin Project, under which 44.45 m of stormwater drains were completed. The money for the project came from the State Disaster Management Fund, Singara Chennai 2.0, and the Capital Fund. Furthermore, 39 ponds were restored and sump and pump arrangements were constructed under a broader strategy to mitigate floods and improve drainage. Balanced approach needed Despite the good progress in several sectors, the slow pace of development in the area of education remains a major worry. As in the case of infrastructure, which has grown impressively, the civic body must adopt a balanced approach towards educational projects. Published - December 29, 2024 10:27 pm IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Chennai / Chennai CorporationNFL legend Randy Moss announces cancer diagnosis
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Gov. Newsom called a special session to prepare $25 million for legal battles with the incoming Trump administration. Republicans dismiss the session as a political stunt. Subscribe to continue reading this article. Already subscribed? To login in, click here.NHL fines Edmonton Oilers forward Jeff Skinner $2,000 for embellishment
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Some quotations from Jimmy Carter . We have a tendency to exalt ourselves and to dwell on the weaknesses and mistakes of others. I have come to realize that in every person there is something fine and pure and noble, along with a desire for self-fulfillment. Political and religious leaders must attempt to provide a society within which these human attributes can be nurtured and enhanced. — from 1975 book “Why Not the Best?” Our government can express the highest common ideals of human beings — if we demand of government true standards of excellence. At this Bicentennial time of introspection and concern, we must demand such standards. — “Why Not the Best?” I am a Southerner and an American, I am a farmer, an engineer, a father and husband, a Christian, a politician and former governor, a planner, a businessman, a nuclear physicist, a naval officer, a canoeist, and among other things a lover of Bob Dylan’s songs and Dylan Thomas’s poetry. — “Why Not the Best?” Christ said, “I tell you that anyone who looks on a woman with lust has in his heart already committed adultery.” I’ve looked on a lot of women with lust. I’ve committed adultery in my heart many times. This is something that God recognizes I will do — and I have done it — and God forgives me for it. But that doesn’t mean that I condemn someone who not only looks on a woman with lust but who leaves his wife and shacks up with somebody out of wedlock. — Interview, November 1976 Playboy. This inauguration ceremony marks a new beginning, a new dedication within our Government, and a new spirit among us all. A President may sense and proclaim that new spirit, but only a people can provide it. — Inaugural address, January 1977. It’s clear that the true problems of our nation are much deeper — deeper than gasoline lines or energy shortages, deeper even than inflation and recession. ... All the legislation in the world can’t fix what’s wrong with America. ... It is a crisis of confidence. — So-called “malaise” speech, July 1979. But we know that democracy is always an unfinished creation. Each generation must renew its foundations. Each generation must rediscover the meaning of this hallowed vision in the light of its own modern challenges. For this generation, ours, life is nuclear survival; liberty is human rights; the pursuit of happiness is a planet whose resources are devoted to the physical and spiritual nourishment of its inhabitants. — Farewell Address, January 1981. We appreciate the past. We are grateful for the present and we’re looking forward to the future with great anticipation and commitment. — October 1986, at the dedication of the Carter Presidential Library and Museum. War may sometimes be a necessary evil. But no matter how necessary, it is always an evil, never a good. We will not learn to live together in peace by killing each other’s children. — December 2002, Nobel Peace Prize acceptance speech. Fundamentalists have become increasingly influential in both religion and government, and have managed to change the nuances and subtleties of historic debate into black-and-white rigidities and the personal derogation of those who dare to disagree. ... The influence of these various trends poses a threat to many of our nation’s historic customs and moral commitments, both in government and in houses of worship. — From 2005 book “Our Endangered Values.” I think that this breakthrough by Barack Obama has been remarkable. When he made his speech (on race) a few months ago in Philadelphia, I wept. I sat in front of the television and cried, because I saw that as the most enlightening and transforming analysis of racism and a potential end of it that I ever saw in my life. — August 2008, commenting on then-Sen. Barack Obama’s candidacy. I think it’s based on racism. There is an inherent feeling among many in this country that an African-American should not be president. ... No matter who he is or how much we disagree with his policies, the president should be treated with respect. — September 2009, reacting to Rep. Joe Wilson’s shout of “You lie!” during a speech to Congress by President Barack Obama. I’m still determined to outlive the last guinea worm. — 2010, on The Carter Center’s work to eradicate guinea worm disease. You know how much I raised to run against Gerald Ford? Zero. You know how much I raised to run against Ronald Reagan? Zero. You know how much will be raised this year by all presidential, Senate and House campaigns? $6 billion. That’s 6,000 millions. — September 2012, reacting to the 2010 “Citizens United” U.S. Supreme Court decision permitting unlimited third-party political spending. I have become convinced that the most serious and unaddressed worldwide challenge is the deprivation and abuse of women and girls, largely caused by a false interpretation of carefully selected religious texts and a growing tolerance of violence and warfare, unfortunately following the example set during my lifetime by the United States. — From 2014 book “A Call to Action.” I don’t think there’s any doubt now that the NSA or other agencies monitor or record almost every telephone call made in the United States, including cellphones, and I presume email as well. We’ve gone a long way down the road of violating Americans’ basic civil rights, as far as privacy is concerned. — March 2014, commenting on U.S. intelligence monitoring after the Sept. 11, 2001, terror attacks We accept self-congratulations about the wonderful 50th anniversary - which is wonderful - but we feel like Lyndon Johnson did it and we don’t have to do anything anymore. — April 2014, commenting on racial inequality during a celebration of the Civil Rights Act’s 40th anniversary. I had a very challenging question at Emory (University) the other night: “How would you describe the United States of America today in one word?” And I didn’t know what to say for a few moments, but I finally said, “Searching.” I think the country in which we live is still searching for what it ought to be, and what it can be, and I’m not sure we’re making much progress right at this moment. — October 2014 during a celebration of his 90th birthday. The life we have now is the best of all. We have an expanding and harmonious family, a rich life in our church and the Plains community, and a diversity of projects at The Carter Center that is adventurous and exciting. Rosalynn and I have visited more than 145 countries, and both of us are as active as we have ever been. We are blessed with good health and look to the future with eagerness and confidence, but are prepared for inevitable adversity when it comes. — From 2015 book, “A Full Life.”Innovation Thailand: A Look at Emerging Technologies
As the baton of wealth is inherited by younger generations, the heirs of wealthy families are taking a more active role in the impact they seek to create in the world by using the traditionally monolithic family office for more innovative, value-based investments. The great wealth transfer is in full swing as over $100 trillion is projected to be passed down from the older generations to their heirs through 2048 in the United States, according to a December report by research and consulting firm Cerulli Associates. > 24/7 San Diego news stream: Watch NBC 7 free wherever you are "There's a big intergenerational wealth transfer, but the preferences of the baby boomers are starkly different from the preferences of ... millennials," Nirbhay Handa, CEO of global migration platform Multipolitan, told CNBC Make It . "Now you have this younger generation which really believes that profit and progress should go hand in hand," Handa said. Millennials (ages 27 to 42) and Generation X (ages 43 to 58) stand to be the biggest beneficiaries of the wealth transfer, and are expected to inherit about $85 trillion between 2024 to 2048, according to the report. Generation Z and younger generations (ages 27 and younger) are expected to inherit over $15 trillion. Money Report Stock futures inch higher as the market heads into holiday-shortened week: Live updates Amtrak temporarily suspends Northeast Corridor service days before holiday Notably, the majority of wealth transfer will come from high-net-worth (HNW) and ultra-high-net-worth (UNHW) families, who together make up around 2% of all households, according to the report. These families are expected to contribute to over 50% of the transfers, or about $62 trillion. Compared to the baby boomers and older generations, "[younger generations] are less motivated by money, if I generalize, and much more [motivated by] contributing to society," said Martin Roll, an INSEAD Distinguished Fellow and family business and family office expert for McKinsey and Company. "They look out the front window [and ask]: 'What's ahead here? What are the big questions of our time?'" Gen X and millennials are concerned with societal impact — topics like climate change, diversity, health and wellness and hedging against geopolitical conflict are top of mind, said Handa. "I think sustainability and the whole ESG narrative is extremely robust [among younger generations]," the Multipolitan CEO added. "So they may not be interested in investing in fossil fuels or oil and gas, but they're very interested in investing in a company like Oatly ... or Beyond Meat," said Handa. This shift in investing attitudes by younger generations came out of necessity, said Handa. "People are seeing wars, [they're] seeing the impact of climate change... there's a lack of drinking water in many parts of the world," he explained. "As a result of that, this generation has become more resolute on focusing on things which are aligned with their personal values." "The challenges are real ... yes, we talked about cliamate in the 60s and 70s, you'll find them in the American newspapers then, but it was just a little more abstract. Now, it's real. Storms are coming, flooding is happening, hurricanes are more often... it's proof [and] they see it," said Roll. Another major shift can be seen in how some family offices are run. "The whole idea of family offices is less rigid than it used to be... Family Offices have become centers of innovation," said Handa. Having grown up in the age of digitization, the younger generations of wealthy families are investing more into technology and startups. They seek to discover and invest in technologies that can be a "lever for impact," said Roll. "For example, investing in climate tech, edtech, food treatment, water treatment, natural resources, renewable energy." In addition, younger generations are more active in how they invest through their family offices. "30 years ago, family offices were primarily the equity stakes from the company that the family owns through the family office, and would be tied up in real estate, some broader public equities and [overall, it would be a] passive portfolio," said Roll. Today, however, family offices are increasingly making direct investments into private companies, which is not traditional, Roll added. "The parents used to be what I call monolithic — they ran one business, but the younger people coming in may not be interested in chemicals, which is the main business, therefore they start to diversify [through] the family office," said Roll. Although it is true that wealth has always changed hands, the significance of the Great Wealth Transfer of our generation can be explained by looking back at the third wave of the industrial revolution. "It was really that industrialization of particularly, the Western world, that took place in the 50s and 60s, ultimately, with the rise of America after World War Two, and Europe — a lot of wealth was created," said Roll. Out of this post-war "boom," there were about 40 years of "outstanding economic activity," which led to the creation of new industries, big businesses and ultimately, the rise of the middle class in the U.S. and Europe, said Roll. "Therefore, jobs were created ... Everyone got a car, people got a house ... so you got a lot of major shifts that enabled that kind of wealth creation," Roll told CNBC Make It. It was this senior generation that really built "the world and the wealth after World War Two," and "that wealth, including business stakes, is now getting passed on to Gen X, but also to, of course, younger people," said Roll. Overall, as trillions of dollars change hands, what does this mean for the world? "This massive shift in money means the way things were done in the past is not necessarily how things will be done in the future," said Handa. "This era is about vitality and vibrancy and engagement. It's about democratization, it's about aspiration, it's about accessibility," Handa said. "Investment preferences are changing and legacy institutions need to adapt to the new world." Ultimately, as the younger generations inherit the wealth, Roll said: "I think you will see the money [doing] good work. It will be reinvested in the economy ... in technology, and I think in some of the big challenges of our time: climate, gender issues, minorities, villages, poor people and basic [education]." Want to make extra money outside of your day job? Sign up for CNBC's online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. Also on CNBC How to prioritize who to tip during the holidays, according to etiquette experts I spent $34,563.38 to travel the world for 18 months: My budget breakdown I’m a CFP—here are the top 4 tips I give my friends on how to avoid overspending
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Some quotations from Jimmy Carter . We have a tendency to exalt ourselves and to dwell on the weaknesses and mistakes of others. I have come to realize that in every person there is something fine and pure and noble, along with a desire for self-fulfillment. Political and religious leaders must attempt to provide a society within which these human attributes can be nurtured and enhanced. — from 1975 book “Why Not the Best?” ___ Our government can express the highest common ideals of human beings — if we demand of government true standards of excellence. At this Bicentennial time of introspection and concern, we must demand such standards. — “Why Not the Best?” ___ I am a Southerner and an American , I am a farmer, an engineer, a father and husband, a Christian , a politician and former governor, a planner, a businessman, a nuclear physicist, a naval officer, a canoeist, and among other things a lover of Bob Dylan’s songs and Dylan Thomas’s poetry. — “Why Not the Best?” ___ Christ said, “I tell you that anyone who looks on a woman with lust has in his heart already committed adultery.” I’ve looked on a lot of women with lust. I’ve committed adultery in my heart many times. This is something that God recognizes I will do — and I have done it — and God forgives me for it. But that doesn’t mean that I condemn someone who not only looks on a woman with lust but who leaves his wife and shacks up with somebody out of wedlock. — Interview, November 1976 Playboy. ___ This inauguration ceremony marks a new beginning, a new dedication within our Government, and a new spirit among us all. A President may sense and proclaim that new spirit, but only a people can provide it. — Inaugural address, January 1977. ___ It’s clear that the true problems of our nation are much deeper — deeper than gasoline lines or energy shortages, deeper even than inflation and recession. ... All the legislation in the world can’t fix what’s wrong with America. ... It is a crisis of confidence. — So-called “malaise” speech, July 1979. ___ But we know that democracy is always an unfinished creation. Each generation must renew its foundations. Each generation must rediscover the meaning of this hallowed vision in the light of its own modern challenges. For this generation, ours, life is nuclear survival; liberty is human rights; the pursuit of happiness is a planet whose resources are devoted to the physical and spiritual nourishment of its inhabitants. — Farewell Address, January 1981. ___ We appreciate the past. We are grateful for the present and we’re looking forward to the future with great anticipation and commitment. — October 1986, at the dedication of the Carter Presidential Library and Museum. ___ War may sometimes be a necessary evil. But no matter how necessary, it is always an evil, never a good. We will not learn to live together in peace by killing each other’s children. — December 2002, Nobel Peace Prize acceptance speech. ___ Fundamentalists have become increasingly influential in both religion and government, and have managed to change the nuances and subtleties of historic debate into black-and-white rigidities and the personal derogation of those who dare to disagree. ... The influence of these various trends poses a threat to many of our nation’s historic customs and moral commitments, both in government and in houses of worship. — From 2005 book “Our Endangered Values.” ___ I think that this breakthrough by Barack Obama has been remarkable. When he made his speech (on race) a few months ago in Philadelphia, I wept. I sat in front of the television and cried, because I saw that as the most enlightening and transforming analysis of racism and a potential end of it that I ever saw in my life. — August 2008, commenting on then-Sen. Barack Obama’s candidacy. ___ I think it’s based on racism. There is an inherent feeling among many in this country that an African-American should not be president. ... No matter who he is or how much we disagree with his policies, the president should be treated with respect. — September 2009, reacting to Rep. Joe Wilson’s shout of “You lie!” during a speech to Congress by President Barack Obama. ___ I’m still determined to outlive the last guinea worm. — 2010, on The Carter Center’s work to eradicate guinea worm disease. ___ You know how much I raised to run against Gerald Ford? Zero. You know how much I raised to run against Ronald Reagan? Zero. You know how much will be raised this year by all presidential, Senate and House campaigns? $6 billion. That’s 6,000 millions. — September 2012, reacting to the 2010 “Citizens United” U.S. Supreme Court decision permitting unlimited third-party political spending. ___ I have become convinced that the most serious and unaddressed worldwide challenge is the deprivation and abuse of women and girls, largely caused by a false interpretation of carefully selected religious texts and a growing tolerance of violence and warfare, unfortunately following the example set during my lifetime by the United States. — From 2014 book “A Call to Action.” ___ I don’t think there’s any doubt now that the NSA or other agencies monitor or record almost every telephone call made in the United States, including cellphones, and I presume email as well. We’ve gone a long way down the road of violating Americans’ basic civil rights, as far as privacy is concerned. — March 2014, commenting on U.S. intelligence monitoring after the Sept. 11, 2001, terror attacks ___ We accept self-congratulations about the wonderful 50th anniversary - which is wonderful - but we feel like Lyndon Johnson did it and we don’t have to do anything anymore. — April 2014, commenting on racial inequality during a celebration of the Civil Rights Act’s 40th anniversary. ___ I had a very challenging question at Emory (University) the other night: “How would you describe the United States of America today in one word?” And I didn’t know what to say for a few moments, but I finally said, “Searching.” I think the country in which we live is still searching for what it ought to be, and what it can be, and I’m not sure we’re making much progress right at this moment. — October 2014 during a celebration of his 90th birthday. ___ The life we have now is the best of all. We have an expanding and harmonious family, a rich life in our church and the Plains community, and a diversity of projects at The Carter Center that is adventurous and exciting. Rosalynn and I have visited more than 145 countries, and both of us are as active as we have ever been. We are blessed with good health and look to the future with eagerness and confidence, but are prepared for inevitable adversity when it comes. — From 2015 book, “A Full Life.”
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