Oberhelman, other business leaders want more scientific research funding

Caterpillar Inc. Chairman and CEO Doug Oberhelman joined more than three dozen other CEOs and top executives in pushing for federal funding for basic scientific research, calling it “an investment in Americans' prosperity, security and quality of life.”

The statement signed by 39 business leaders was published Friday as a full-page ad in the Wall Street Journal. It also ran as a full-page ad in the New York Times on Monday, September 26. The ad can be found here.

"Business leaders agree: Federal funding of basic scientific research is an investment in our prosperity, security and well-being," the group wrote.

Without basic research, the leaders said, we would be without some essential technologies that connect us, protect us, and power our world. Without it, we would not have the internet and smartphones, the hepatitis B vaccine and magnetic resonance imaging (MRI), solar panels, microprocessors and the Global Positioning System (GPS).

Other signatories include Wanda Austin, president and CEO, Aerospace Corporation; Eric Schmidt, executive chairman, Alphabet, and former CEO of Google; Charles Munger, vice chairman, Berkshire Hathaway Corporation; John Watson, CEO, Chevron; Larry J. Merlo, president and CEO, CVS Health; Mary T. Barra, chairman and CEO, General Motors; Meg Whitman, president and CEO, Hewlett Packard Enterprise; Norm Augustine, former CEO, Lockheed Martin Corporation; Steve Mollenkopf, CEO, Qualcomm Incorporated;Thomas J. Falk, chairman and CEO, Kimberly-Clark; William S. Demchak, chairman, president and CEO, PNC Financial Services Group; and Roger Ferguson, president and CEO, TIAA.

The initiative emerged from a meeting at the Annenberg Retreat at Sunnylands in February 2016 that was convened by Robert Bradway, CEO of Amgen, and Subra Suresh, president of Carnegie Mellon University and former director of the National Science Foundation. It was organized by Kathleen Hall Jamieson, program director of Sunnylands and director of the Annenberg Public Policy Center of the University of Pennsylvania. The ads are sponsored by the Annenberg Public Policy Center's program in the Science of Science Communication.

The participants at the retreat voiced concern that the importance of federal funding for basic scientific research not be lost in broader debates about budget priorities.

"The ecosystem for innovation in the U.S., which pairs academic research with private industry investment, is unrivaled anywhere in the world," noted Bradway. "Government funding of research is a critical component, and one which we must sustain if we are to preserve our role as the global leader in innovation."

"Support of basic research, primarily funded by the federal government with a significant boost from the private sector, has played a pivotal role in the emergence of the United States as the undisputed innovation leader since the end of World War II," Suresh said. "This support has served as an engine of economic prosperity and national security, leading to world-changing technologies, tens of millions of high-quality jobs, Nobel Prize-winning discoveries, and the creation of American companies with a global footprint."

Jamieson added, "Without basic research, many of us would literally be lost: We would not have smartphones, the internet and GPS."

Red Barn Tree Shop opens a new season Oct. 1

For 22 years, Barb Roth and Carol Troyer have worked close together to bring Christmas to life in a way so unique to central Illinois that the name Red Barn is usually sufficient to conjure visions of sugar plums, Santa Claus and, of course, the Christ child.

One of their special trees this year at the Red Barn Tree Shop in Morton is called “Reflections,” and it is adorned with several mirrors mixed in with the copper and cranberry hints. The mirrors, explained Red Barn owner Roth, “let us look back, with something looking back at us.”

And looking back over the 32-year history of the tree shop, she added, “We’ve had a lot of fun making it special place to visit. It never gets old.”

The Red Barn Tree Shop opens for the season with its annual Open House at 9 a.m. on Saturday, Oct. 1, and 1 to 5 p.m. on Sunday, Oct. 2. Normal hours will be 9 a.m. to 5 p.m. Monday through Saturday through Dec. 24 and from 1 to 5 p.m. Sundays after Thanksgiving.

The Red Barn grew out of a family tradition that became a hobby before the Roths turned it into a business.

The Roth family grew a few Christmas trees on their farm for themselves, then later decided to plant more and make a seasonal business of it. The Red Barn Tree Shop started because Barb believed people coming to buy or cut their own trees would enjoy being able to purchase decorations and get decorating tips at the same time.

So, Russ Roth moved a 150-year-old barn across some fields to its spot on Jefferson Street in Morton, used original wood from the floor to build a staircase and second level, and then turned it over to Barb so she could make it into the quaint and colorful showplace it is today.

Today the farm has thousands of trees ready for cutting and the Red Barn has its own trees that are decorated with their own themes as a way to get the creative juices flowing for customers new and old. Each year, Troyer said, the Red Barn gets customers who have never been there before. “We enjoy showing it off,” she said while walking through the barn with its original beams and siding.

The family still farms crops as its livelihood, but the Christmas tree and decoration business is what Barb calls the fun part of the family business. Fun, but still a lot of work, she added.

And this year, there is something new on the Roth property. Their son Nick, who farms and owns the Roth Country Produce operation, has opened the Roth Pumpkin Patch next door to the Red Barn. Besides pumpkins, the business sells other produce and has a play area for children that includes a double barrel slide, a peak they can climb, Milly the Milk Cow (now a real cow), a pumpkin sling shot where people can try and win a pumpkins, hayrack rides and a train ride around the property.

“This is the first year for the Pumpkin Patch, but Nick plans to expand it each year,” Barb said.

The Pumpkin Patch is open 9 a.m. to 6 p.m. Monday through Saturday and 11 a.m. to 6 p.m. on Sunday through Oct. 31. The play area opens at 3 p.m. on school days. The cost is $6.

A visit to the Red Barn is like stepping into a kind of magical place filled with decorations that bring out different aspects of the holiday season. Each theme is unique and includes a color and fabric scheme popular for the season at hand.

For example, visitors this year will find plaids in many of the decorations because, Troyer said, “Plaids are back in this year.”

A popular color is champagne. “It’s not gold or silver; this year it’s champagne as a very dominant color,” Roth said.

A new display this year is one of different kinds of sports-related ornaments. There is a tree with a look that brings yesteryear to mind and one filled with homespun decorations that appear to have been made just for that tree.

Another tree this year incorporates the music of the season into its decorations, focusing on the music that tells of the birth of Jesus with a unique Nativity scene in the middle of it. It is appropriately titled “Glad Tidings.”

Each year, Roth and Troyer decide on the themes of their trees by the decorations they find at various shows they attend, starting not long after the Red Barn Tree Shop closes for the season on Dec. 24. They take a short break, then start planning, they said.

Each show they attend has different designs from which they choose their themes, said Troyer. When it comes to what is hot one year to the next, she added, “The designers decide that, sometimes two or three years out.”

However, she noted, “What we see at these shows give us ideas, but we never just copy what we see. We decide what we want, then put it all together in our own way. What we see sparks an idea and we take it from there.”

After 22 years of working together, added Roth, “We can pretty well tell what the other is thinking. Sometimes we even finish each other’s sentences.”

The themes of the trees this year are:

• 1^st Snow: A dusting of soft, white snow with touches of fresh blue and silver.
• Touch of Frost: Icy, crisp and white with birch branches and ferns and a family of owls peeking out at other animal scurrying about.
• Glad Tidings: A champagne, taupe and pearl tree with the Holy Family and three wise men nearby as song rings out the Good News.
• Towne Square: The traditional colors of red, green and gold with touches of black adorn this tree with Santas, holly and flickering candle lanterns reminding us of Christmas past.
• Home Sweet Holiday: A tradition flocked tree filled with ornaments of yesteryear.
• One Starry Night: Red and gold angels on a tree laden with stars, showing that one starry night that heralded the shepherds and guided the wise men.
• Holiday Reflections: Reflections of copper, gray and a hint of cranberry, an unexpectedly stunning holiday combination.
• Mingle-Jingle!!: Santa and his busy elves fill this fun and kid-friendly tree.
• Homespun Holiday: Primitive stars, bows of ticking and cotton stems.
• Snowman Fun: Fun-loving snowmen peek out of a snowy tree, begging you to take them home.
• Timber Lodge: Red lanterns, woodland Santas, buffalo plaid ribbons give a cozy, by-the-fireplace feeling.
• Be Lovely: Our ladies’ wear area with wraps and scarves, handbags and accessories.

While the Red Barn doesn’t sell its trees, Roth and Troyer will help customers use the decorations on them to decide their own themes and how best to create them. Many times it includes giving traditional themes a new look, which can be accomplished with something as simple as a ribbon.

Again this year the Red Barn is offering outer ware, including hats, gloves, scarves and sweaters.

Tree cutting on the Roth farm starts after Thanksgiving. That’s because trees can dry out, even with regular watering. This year, as always, the Roths will accommodate customers who want to have a tree up and decorated for their family Thanksgiving celebration.

The farm sells hundreds of trees each season. The Roths grow white pines, Scotch pines and a variety of firs. The pines have firmer branches for decorating, but the firs hold their needles longer, which can mean less clean-up at the end of the holiday season.

They make the wreaths they sell as well as centerpieces and the shop will also flock trees using a cellulose (water and paper) substance that is not messy and is safe for pets. 

Museum CEO Gappmayer leaving for new position

Sam Gappmayer, president and CEO of Peoria Riverfront Museum for just under three years, is leaving for a new position in Sheboygan, Wisconsin, effective Oct. 14, the museum announced Thursday.

Gappmayer will become director of the John Michael Kohler Arts Center, an institution known for its focus on outsider and visionary art.

Gappmayer, the Peoria museum said, is leaving Peoria after accomplishing what he set out to do, which was “building a high-quality, energetic and community-focused programming schedule while paving the way for a sustainable future for the museum.”

There is no word yet on whether the museum board will name an interim CEO or how the search for Gappmayer’s replacement will be done.

“Sam Gappmayer’s goal has always been to help us make Riverfront Museum a true asset for the community,” said Sid Ruckriegel, museum board chair. “He has achieved that in three ways – most importantly by working with staff to create cross-disciplinary programming that has engaged the public in new and inviting ways. He also opened the museum to the public, making it more of a community gathering place, and he right-sized the institution, paving the way for a sustainable future.”

During Gappmayer’s tenure he has overseen the building of community partnerships and a vibrant slate of museum exhibitions, events and educational programming, which has increased earned revenue and attendance, while reducing operating costs, the museum said.

Ann Schmitt, vice president of museum programs, said that from the start, Gappmayer encouraged staff to engage with other community organizations, which helped develop new collaborations with partners such as the Interactive Media Department at Bradley University, Sculpture Walk Peoria and River City Labs, among others.

“Under Sam’s leadership we’ve been able to expand our programming in exciting ways and imagine new ways to use our facility,” said Schmitt. “Sam supported staff in their efforts to use the Giant Screen Theater and the Dome Planetarium as platforms for showcasing not only our own mission-oriented programming, but also the creative work of other local groups.”

Anne Marie Miller, vice president of development, said community relationships have also allowed the museum to expand its reach and impact across a variety of business sectors, while making the museum a public gathering space. “Sam maintained and developed many relationships with museum donors and community leaders,” Miller said. “He opened the museum to collaborations with other community organizations such as WTVP, Greater Peoria EDC, Peoria Area Chamber of Commerce, Peoria Area Convention and Visitors Bureau, Peoria Downtown Development, Peoria RiverFront Association, Children’s Home Association, Boys & Girls Club and many others.”

Ruckriegel said Gappmayer helped keep the museum’s promise to the public by providing an excellence in programming that reflects the museum’s mission to inspire lifelong learning for all through art, history, science and achievement.

But for Gappmayer, the achievement of putting the museum on the right course came with an unexpected and irresistible opportunity – the chance to direct a favorite museum, Kohler Arts Center, which has been focused on his lifelong passion of outsider/visionary artwork.

“Early in my career I developed an interest in outsider/visionary art – work by self-taught artists that developed outside the more normal contexts of academia, art schools and commercial galleries,” said Gappmayer. “I became aware of the Arts Center early on because of its work with visionary art, and over the years made several trips to learn about their programs and approach.

“Kohler Arts Center has grown into an international center for the study and exhibition of work by these artists over the past forty years and plans are underway to build a new center that will house the collection and create opportunities for exhibitions and scholarship,” he added. “And I’m happy to have a final chance to get back to my first love – fine arts programming that’s focused on outsider art.”

Gappmayer gave high praise to the staff and board at the museum, calling them one of the best groups with whom he has worked. He knows there will be challenges, but is confident in the future.

“Transitions can be hard work. However, there are assets in place at the Riverfront Museum, that will make this process go exceptionally well – including an incredibly capable staff of accomplished professionals,” Gappmayer said. “Riverfront Museum staff has a deep level of commitment to the museum that will ensure the ongoing quality of future programs. Our Riverfront Museum board represents a broad cross section of our community and has a wide range of skills that will contribute to a successful search process. Their approach to this challenge has been thoughtful and well considered in ways that make a good conclusion clear.”

Gappmayer said the museum’s “support groups, our volunteers and our wonderful donors will be huge assets as the museum works through this process that will, I am confident, be a tremendous success. I have truly enjoyed helping to build a robust multidisciplinary program of arts, science and history at Riverfront Museum.”

Gen Xers losing sleep because of money concerns

Gen Xers are having trouble sleeping nights because of money worries, according to results of a new survey released Wednesday.

Nearly two-thirds (63%) of Gen Xers are concerned about financing their retirement and one in three is worried they're not earning enough money to be able to invest for the future, said the survey by American Funds, a family of mutual funds from Capital Group, one of the world's leading investment management firms.

"After experiencing the dot-com bust, the global financial crisis and the housing collapse, as well as stagnant wage growth during their formative adult years, Gen Xers — or Generation AnXious — are wary about their financial future," said Heather Lord, senior vice president and head of strategy and innovation at Capital Group. "Perhaps because of these concerns, Gen Xers long to do better than the average market and say actively managed funds can help them reach these goals."

While investors across all three generations believe it is important to strive for superior results – and to limit losses during market downturns — the survey identified a low level of awareness about the downside risks of index funds.

"Every generation is interested in achieving better investment outcomes over time and limiting losses in market downturns, combined with low fees," said Lord. "But each generation has blind spots around index funds, which experience the full downside of market drops. Baby Boomers, especially, are unaware of those risks – and they're the ones with less time to rebuild their nest eggs from a market downturn."

Wisdom of Experience: Lessons Learned From Millennial, Generation X and Baby Boomer Investors surveyed over 1,200 U.S. adults, focusing on Millennials (21-36 years old), Generation X (37-51 years old) and Baby Boomers (52-70 years old), to understand their perspectives on a range of investing and retirement issues.

Key findings include:

• Blind Spot – Index Funds: Only half of investors (54%) are aware that index funds expose them to the full impact of market volatility, as well as risk of losses during market downturns
• Buy and Hold – Invest for the Long-Haul: All generations feel smarter when they stick with a long-term investment strategy, with nearly two-thirds (65%) of Boomers adhering to this buy-and-hold mindset
• Message Received – Start Saving Early: Fifty-nine percent of Millennials began saving for retirement before age 25, compared to 42 percent of Gen Xers and 28 percent of Boomers

Don't Settle for Average: Results, Fees and Blind Spots

All three generations understand that a well-designed portfolio can do better than average, but most don't know what to look for when trying to identify funds that can deliver long-term, above-average market results.

• Investors want to do better than average. Seven in 10 (69%) investors said that a diversified strategy – incorporating both actively managed mutual funds and passive index funds – can help investors achieve better returns.
• Protecting the downside – safeguarding investments during a market downturn – is a key priority, particularly for Baby Boomers (81%). However, only half of investors (54%) are aware that passive index funds expose them to the full impact of market volatility, as well as risk of losses during market downturns. And even fewer (46%) see the risks of index funds for older investors who are less able to withstand market downturns and have less time to rebuild savings.
• Investor awareness of how to identify funds that beat benchmarks is extremely low. Two out of three investors (69%) have never heard of low fees as a success factor for identifying funds that outpace markets over time, and nearly 80 percent have never heard of high manager ownership in the fund as a key success factor. High manager ownership looks at the amount fund managers invest in the funds they manage, signaling managers' commitment to fund holders.

That said, 64 percent of investors said they would feel more comfortable investing in a fund where a significant amount of the manager's own money is invested alongside them, and most agree that such funds are more likely to do well for investors.

Age and Gender Matter: Contrasting Outlooks on Markets and Retirement

Boomers have the lowest expectations about future market returns, but they have the most optimistic outlook on their retirement. For Millennials and Gen Xers, it's the opposite – they are more bullish about the market, but less so about their own retirement.

Also, within each demographic, gender expectations differ: Men are a lot more optimistic than women about the investment outlook in the next 10 years, while women have a more positive outlook than men when it comes to the next two or three decades.

• Over the next 10 years, only 16 percent of Boomers expect the market to do as well as the last five years of relatively strong returns — while nearly twice as many Millennials (31%) and Gen Xers (28%) picked the most bullish scenario.
• Half of all Boomers (48%) expect market returns to be lower than historical averages over the next two to three decades, compared to one in three (29%) Millennials and Gen Xers.
• Six out of 10 (61%) Baby Boomers expect to feel satisfied on their 100^th day of retirement, compared to only 40 percent of Gen Xers and 43 percent of Millennials.
• When asked to select which financial concerns keep them up at night, including having enough money to retire with peace of mind and being able to ensure care for self or family member, 37 percent of Boomers said "None of these."

Life's Lessons: Generational Habits Shaped by Experience
Each generation has taken the need to start saving early more seriously. Fifty-nine percent of Millennials began saving for retirement before age 25, compared to 42 percent of Gen Xers and 28 percent of Boomers. And a quarter of Millennials believe children born today should start saving for retirement even before their 18th birthday.

• Despite concerns of Millennials about saving enough money for retirement, they do dream big. They expect to retire later than Boomers, but are least likely to expect to keep working part-time. Two-thirds of Millennials want to spend their time in retirement "traveling the world."
• All three generations agree that sticking with a long-term investment strategy makes them feel smarter as investors, with nearly two-thirds (65%) of Boomers adhering to this buy-and-hold mindset compared to 49 percent of Gen Xers and 43 percent of Millennials.
• Boomers also have the most altruistic views about volunteer work, and are twice as likely as Millennials to say they would like to donate to causes they are passionate about in retirement.