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Fred Meyer stores will phase out all sales of guns and ammunition, according to parent company, Kroger."Fred Meyer has made a business decision to exit the firearms category," Kroger spokesperson Kristal Howard said in an emailed statement on Monday.The company said it made the decision last week "after evaluating changing customer preferences" and also "softening consumer demand" for guns for the last several years.Annual gun sales at Fred Meyer are million and "continue to decline," according to the company."More recently Fred Meyer has been transitioning away from gun departments as a result of the ongoing work to optimize space in Fred Meyer stores," the company said.The news comes after Kroger announced last week that the grocer will stop selling magazines featuring "assault rifles."Earlier this month, Kroger said its Fred Meyer stores would stop selling guns to anyone under 21, even though the law permits the sale of rifles to anyone 18 or older. Kroger has 45 Fred Meyer stores located in four Western states.This followed a decision by Dick's Sporting Goods Chief Executive Officer Edward Stack to stopping selling what he called "assault-style rifles" and high capacity magazines after a mass shooting at a high school in Parkland, Florida.Walmart, which stopped selling military-style semiautomatic rifles back in 2015, also recently raised its gun purchase age from 18 to 21.The-CNN-Wire 1423
For one Tennessee Spanish teacher, what began as free money for qualified students on the path to a career in education has turned into a two-year nightmare.“It has been wearing on me emotionally and mentally,” Kaitlyn McCollum said. In 2009, as a senior in high school, McCollum applied for and received the Teacher Education Assistance for College and Higher Education Grant Program, also known as the TEACH grant. It paid for her undergraduate college.In exchange, McCollum agreed to teach a high-need subject for four years at a low income school, which she's been doing since graduating from Middle Tennessee State University in 2013. “The very basis of the TEACH grant is to promote teachers joining the field,” McCollum said. However, in 2016 that free money disappeared.“It was a huge slap in the face, huge slap in the face,” she said. McCollum sent paperwork to Fedloan, the company that oversees the grant, on July 29, 2016. The deadline was July 31. She admits the paperwork might've gotten there a day or two late, but the next letter she received in August wasn't what she expected.“In a one line, very cold sentence, says ‘your grants have now been converted to loans, period,’” McCollum said. She now owes the ,000 she was given in grant money plus the accrued interest. “It was this instant overnight debt of ,000,” she said. McCollum immediately appealed, but was denied. She's contacted state leaders in Tennessee and spent the last two years going back and forth with Fedloan about the paperwork issue. She said they're missing the bigger picture.“If I’m saddled with ,000 plus accruing more interest, am I going to stay in education? Maybe not,” McCollum said. McCollum has learned since 2016 that thousands of teachers across the country are in the same boat. While the Attorney General's Office in Massachusetts has opened a case, she hopes her story will be seen and heard by the right people here in Tennessee. 2069

Florida lawmakers celebrated the passage of a school safety bill on Wednesday in response to last month's shooting in Parkland. But the bill left some with a new concern.Black and Hispanic Democrats joined civil rights groups in warning that part of the Marjory Stoneman Douglas High School Public Safety Act could have deadly unintended consequences for students of color.The provision establishes a voluntary "guardian" program that allows personnel who meet certain criteria to carry firearms in schools?.Democrats in the Republican-controlled House and Senate fought unsuccessfully to remove the controversial provision from the bill, also known as SB 2076. They argued that minority students -- who are often subject to disproportionate levels of punishment compared to their white counterparts and are more likely to be mistaken for perpetrators -- could become targets."My voice was never heard," lamented Miami-area Democratic Rep. Roy Hardemon. "No one heard our cry."Florida Gov. Rick Scott has been a vocal opponent of arming teachers. But he has not said definitively whether he would veto a bill that includes the provision.NAACP President and CEO Derrick Johnson called the idea of arming teachers "irresponsible." He said he hoped the governor would be more responsible than lawmakers who voted in favor of SB 2076."Our concern is not only black and brown students but all students who could be harmed," Johnson said.Fears of implicit bias 1462
For those would-be investors wanting to jump into the stock market but wondering which stock to buy, legendary investor Warren Buffett has a suggestion: Try buying 500 stocks instead.“In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett said at Berkshire Hathaway’s annual meeting in May. But what is the S&P 500, and how do you invest in one of its funds?Here’s an intro to how S&P 500 funds work, and whether one might be a good fit for your portfolio.What is the S&P 500?The S&P 500, or S&P, is a stock market index comprising shares of 500 large, industry-leading U.S. companies. It is widely followed and often considered a proxy for the overall health of the U.S. stock market.Standard & Poor’s, an American investment information service, created the index in 1957. Every quarter, its investment committee meets to review which stocks belong in the index based on each company’s market size, liquidity and group representation. Today, 505 stocks constitute the index, since some of the 500 companies have more than one class of shares.Contrary to popular belief, the stocks forming the index are not the 500 biggest U.S. companies, but they are arguably the 500 most important companies. Over .2 trillion is invested through the index, with these 505 stocks representing about 80% of the total U.S. stock market’s value.The S&P 500 is a cap-weighted index, meaning each stock within the index is weighted according to its market capitalization, or total market value (number of outstanding shares multiplied by current market price). The larger the company, the greater its influence on the index.As of Aug. 31, 2020, these are the top 10 companies by index weight in the S&P 500:Apple.Microsoft.Amazon.Facebook.Alphabet, Google’s parent company (shares in classes A and C).Berkshire Hathaway.Johnson & Johnson.Visa.Procter & Gamble.How do you invest in the S&P 500?An index is a measure of its underlying stocks’ performance, so you cannot directly invest in the index itself. Buying every company’s shares would be an arduous task (think 505 separate transactions), but thankfully there are index funds and exchange-traded funds, or ETFs, that replicate the index, effectively doing that work for you.While all S&P 500 funds track the holdings of this index, an investor must consider whether using an index fund (a passively managed mutual fund) or an ETF makes the most sense for them. The good news when weighing index funds versus ETFs is that there are solid S&P 500 options in each category, and all of these products leverage the diversity of the index itself.Because the S&P 500 is weighted by each company’s market capitalization, the larger companies in the index can sometimes have an outsize impact on the performance of the larger index. In other words, a big dip in price for Apple shares can create a dip in the index as a whole. Because of this, some investors prefer to purchase the S&P 500 in an equal-weighted format, so that each company has the same impact on the index. This is meant to create an index that is more representative of the overall U.S. market.After deciding your preference for an index fund or ETF, cap-weighted or equal-weighted, you can begin narrowing down which S&P 500 fund to purchase. To minimize your costs, look into each fund’s expense ratio — the percentage of your assets you’ll pay in fees each year — to see how they compare.Fees are important here since all of these funds track the same index, which means their returns should be roughly the same. The lower the fee, the more of that return you keep.Should you invest in the S&P 500?There are a number of things to think about before you choose any investment. But an S&P fund can generally be a good choice if you want to add broad exposure to the U.S. stock market to your portfolio.“The S&P 500 is a key part of a diversified investing strategy because it’s a good bet that the U.S. economy will continue to succeed and grow in the long term,” says Tony Molina, senior product manager at Wealthfront. The U.S. has the largest economy and stock market in the world, and is one of the most resilient and active, especially when it comes to innovation. That’s why it’s a no-brainer to include the S&P 500 as part of your portfolio.”Larger companies are generally more stable to invest in because they are well-established and widely followed. Thus, these stocks usually have less risk and lower volatility. The S&P 500 combines large companies across various industries, so investors access a broad, diversified mix of companies when investing in it.Choosing an index fund or ETF can also help investors avoid — or at least minimize — the behavioral pitfalls from stock-picking, which is a losing strategy, says Dejan Ilijevski, president of Sabela Capital Markets.Ilijevski cites the May 2018 study by professor Hendrik Bessembinder at Arizona State University, which examined investments in publicly traded U.S. stocks between 1926 and 2016 and found that just over 4% of the companies accounted for the total wealth created.“Picking those few individual winners is impossible,” Ilijevski says. “Your best bet is to own as much of the market with a fund that tracks the index.”Using index funds and ETFs can help investors generate strong returns while also minimizing their costs, says Kevin Koehler, chartered financial analyst and director of the investment strategy group at Miracle Mile Advisors in Los Angeles.“Investing in the S&P 500 the past 25 years would have given an investor over a 10% annualized return, proving that an investor does not need to be paying high expenses to get good market returns,” Koehler says.Are there drawbacks to investing in the S&P 500?There are caveats to consider. The S&P 500 consists of only large-cap U.S. stocks. Portfolio diversification encompasses buying mid- and small-cap companies along with large-caps; allocating funds to international companies along with domestic ones; and including bonds, cash and potentially other asset classes with stocks.Koehler also notes drawbacks in the S&P 500 related to its market-cap weighting.“As passive investing increases, investors are continually investing in S&P 500 funds, which has contributed to a ‘rich get richer’ problem, where the largest stocks are getting larger due to S&P 500 investing, rather than individual stock investing,” Koehler says. “This can lead to higher volatility, as active managers sell an individual stock on top of index funds selling a portion. The market could continuously be overvalued compared to its underlying value.”But relative to the downsides of many investment types, the flaws of S&P 500 funds seem relatively minor, especially when used as a part of your overall portfolio and held for the longer term. This helps explain why icons like Buffett have so publicly endorsed them.“I happen to believe that Berkshire is about as solid as any single investment can be, in terms of earning reasonable returns over time,” said Buffett at the May meeting, speaking about the investing company he’s turned into an empire. “But, I would not want to bet my life on whether we beat the S&P 500 over the next 10 years.”More From NerdWallet4 Ways Women Can Invest in Other WomenHow the Pros Ride Market Volatility — and Why You Shouldn’tIf Doing Less Means Saving More, Try These 5 Money MovesTiffany Lam-Balfour is a writer at NerdWallet. Email: tlambalfour@nerdwallet.com. 7573
For years Rachel and Greg Osterland have decorated their Wadsworth to look just like a famous one— the Griswold’s house from "National Lampoon’s Christmas Vacation." The home has become a must-see for families across Northeast Ohio during the holiday season. On Friday, the family held the official lighting of the home. Typically, the family hosts a crowd of spectators but this year, because of the COVID-19 pandemic, the event was virtual. The Osterlands lit their home just before 7 p.m. Watch video from the event in the player below: 549
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