And we are live. Welcome everybody. As you can see on the screen, we are starting soon. We will start in about one minute, two minutes maybe, just to let everybody get joined properly before we get started content. My name is Marie and I'm joined by Tori and we are onboarding specialists here at When I Work. We're dedicated to helping new users get started as smoothly as possible with When I Work. As part of those efforts, we do these webinars and we're here to answer your questions and help everyone get started as best we can. While we wait, we're just gonna wait again just one minute to let everyone get joined properly, grab a snack and get settled in. If you like to use the chat tool, you can feel free to chat with us. Let us know what kind of work you're scheduling for, where you're joining us from, totally optional, but it's always fun for us to get to know you all a tiny bit better while we kind of wait for everyone to join. But if not, no worries, just hang tight and we will get started shortly. I'm seeing the attendees steady out quite a bit so I wanna make sure that we do get started and make the most of our 30 minutes here today. All right, so welcome again, everyone, to the live Q&A. We're so happy to have you all join and we're excited to help you get started with When I Work. So during the next 30-ish minutes, we are gonna be answering your When I Work questions.  So the questions are gonna be flowing in and we're gonna get to as many as we can. If your question doesn't get answered or you come up with a new question, I mean, you just like some further help and just to chat with someone, you can always get in contact with us after the webinar. So listen, till the end, we'll be giving you all the resources and all the information that you need to get started and to get in contact with us. If you're totally new to When I Work and just checking out your new account and the plans that we offer, we are gonna go over how you can upgrade your account and give you more information about the plans that we offer. So you have all of that squared away before you get started. And if you're joining us to ask questions about your existing account and you are already moving with When I Work, then you're welcome to ask questions as well. Anyone's welcome, all our questions are welcome. So with that, we can go ahead and get started. Thanks for those of you who chatted in. We've got tons of different types of companies I see already. So really great to hear from you all. All right, so the way that this webinar works is you can use the Q&A tool. So we're not gonna use the chat that we use just to get to know each other, but we're gonna use the Q&A. You can pop your questions in that Q&A section now or at any time during the webinar. Tori is gonna be scrolling through those questions, grabbing as many as he can to ask out loud. I am going to be sharing my screen and sharing with you the answers to your questions with a visual demo of my actual When I Work account. And Tori also might be typing some answers to you all that we might not be able to get to live with me talking through it, but we will try to get to them all. But again, if your question doesn't get answered, we'll go over some ways that you can get in contact with us after as well. So with that, I am going to share my When I Work screen. All right, so right now you are just looking at my When I Work account. I am logged in as the admin or the main kind of user or administrator of this account. I am logged in as the admin. So I do have all the access to create schedules, make shifts, publish out the schedule, change any settings, add in any employee information, and access my account and billing page to add in any billing information or change my plan. The top menu bar here is the main kind of navigational center for When I Work. It'll help you navigate to all the different products that we offer. So that's the scheduler where you create shifts. The attendance tool that if you choose to use, your employees can clock in and out and you can review their time sheets. Work chat are in-app messaging system. And then on the right-hand side here is where you'll find your settings, your shift and open shift requests and time off requests. And the shopfront icon, which will allow you to enter information into your account like employees, positions, create shift templates, things like that. So that was just a quick rundown of what you're seeing on the screen right now if you're totally new, but I'll stop now and wait for our first question. We have a great one starting out. So this is from a staffing agency that like staffs like nurses and stuff for different hospitals like in their region. And they're just kind of wondering just different ways to like designate locations for shifts and just kind of how to organize in kind of a multi-location business organization and how that can work and when I work. Great question. And we see a ton of staffing agencies using when I work and I've seen different setups depending on kind of the uniqueness of your business. So the first way that I've seen some staffing agency designate the different locations. So of course you have a pool of employees and you are sending them out to different locations. So the first way that I've seen this set up is using multiple schedules. This is essentially creating a schedule for the different locations that you're sending your employees to. So you might have hospital one, clinic one, hospital two, whatever. And this way you can kind of toggle between the different locations that you're sending your staff out to. This works really well if you have just a couple, I would say just a couple of locations that you are working for. So maybe this is five different hospitals and you only ever have those five different hospitals that you're kind of catering to. And that way you won't have just a ginormous list of schedules that you're sending your employees out to. So I would say if you have kind of a very static and low number of locations that you're sending your employees out to, I would use the multiple shifts tool and just toggle between the different locations, set shifts for those different locations. If you have employees that are able and eligible to work at more than one location, like here I have a couple of employees that are on both of my locations right now, you'll always see if they have a shift at the other locations so you don't double book them if they're working at hospital one, they won't be booked at that time at a different clinic. The second way that you could set up different locations for your staffing agency would be to use job sites. So job sites is essentially just an assignment that you add on to a shift. And it will tell your employee and show you on the schedule where the shifts are taking place. So for example, this shift right here, 7 a.m to 2 p.m, you can see it's at location one. So that could be hospital A, hospital one, whichever client it is. I'm gonna pop open the shift so you can just see the anatomy of a shift and what all goes into a shift and when I work it's time, the position. So maybe it's nurse, nursing assistant, things like that, tech. And then you can add that job site in here. So you can see it really is just that assignment that you add into one singular shift. This works really well if you have a couple more locations that you're sending your employees to that maybe change a lot. So that way you'll have it all on one schedule but you'll be able to see the locations that the shifts are on. If you do have a ton of employees, a ton of locations and you're using job sites, it might feel overwhelming but make sure to always remember that you can use the job site filter when you are working off of your schedule. So if you just pop that down, you can see all of the different job sites that you have scheduled on your schedule right now. I only have one but this way you can filter out a location if you don't wanna see that location. You can just look at one location at a time just to see your coverage, just to see which employees are where and this is really gonna help you maintain that coverage and your understanding of what's going on on your schedule. You can create job sites or schedules from the shopfront icon. So schedules is where you can add in more multiple schedules and this is where you can add in job sites as well. So again, either using multiple schedules or job sites just kind of depending on how many job sites you want or just what makes more sense to your own brain and your own process. Excellent, yes, we get as the onboarding team, we get these questions a lot about shift locations and multiple sites. So I like that that was one of the first questions that came in here. So we could introduce them to those options as well. So we have questions rolling in right now. So we have a couple on and I'm gonna try to phrase this in a way so you don't get lost in the question because it's kind of a two-parter. But like there's just people that are saying, like, hey, we have a pretty set schedule. Is there a way to just quickly get all those shifts in there so that we don't have to create individual ones? And then there's also somebody that's asking, is there a way to like bulk add shifts for multiple people without individually adding shifts? So I feel like that's just both good questions for us to highlight the shortcut options and the scheduling options that can save people time. Definitely, I love talking about our shortcuts because we do have so many. And that's what we're really good at when I work. We're great at making scheduling easy and making scheduling fast for your team. We know that you've got so much other stuff that you could be doing and scheduling is not something you wanna spend your weekend doing. So I'm gonna start with a couple of really easy shortcuts that kind of are hidden but are so important when creating your schedule. So the first one I wanna talk about is the copy tool. Actually, the first one I'm gonna talk about is the shift template tool and then I'll talk about the copy tool. So if you do have shifts that get worked often and you don't wanna be creating a custom new shift every single time you create a shift, definitely make shift templates. So when you're creating a shift, you're just gonna hover into the cell that corresponds with a day and an employee. You'll click into that cell and instead of making a custom shift from there, you can just choose one of your pre-made shift templates. You can create your shift templates again from this shopfront icon clicking into shift templates. So once you've created your shift templates, you can go into the scheduler and really easily just click and add in a shift template. If your employee works that every day or every other day in your week, you can use the copy tool. So that is command, click on the shift and then drag and drop. So you can see how really easily and really fast I just created an entire week of Chandler's shifts for the breeze dive. That's just what he works every day. Just quickly adding in those works really well. If you wanna- Wait, I thought, hold on, hold on. I thought we didn't know what Chandler did for work and that was like a running joke in all ten seasons. Sorry, sorry, sorry. Off topic.  No, that's funny. But yeah, so he is working the barista shift for this week. If you wanna make any changes, you can always move a shift by really simply just dragging and dropping that shift into an eligible employee. And they're eligible by things like the position that they're tagged to and the additional sub tags that they're assigned to within their employee profile and that are assigned to the shifts. What other? Okay, I have so many in my head and I only wanna keep it kind of short to show the good, the really good shortcuts. So I'm gonna go into the next week to show the wrench icon shortcuts. So I'm just hovering into the next week and I'm gonna use this wrench icon to show what you can do. If you have the next week and you just want to add in the same week of shifts that you already made because your employees just work the same shifts week to week or every other week, you can use the wrench icon here and copy the previous week of shifts over into the next week that you're in. So I'm just gonna allow conflicts because there's no other shifts in here. And I quickly just copied over all of those shifts that I had made for the last week. You can do this individually by employee too. So maybe not everybody shifts are the same but Monica likes things to be very routine. So I just copy Monica shifts. That would just copy all of Monica shifts but not all of the other employee shifts. There's two more things that I wanna highlight. The first one is the schedule template tool. So just like how you can create and save and reuse shift templates, just like here, you can do the same thing for schedules. So say this schedule was perfect and I want to load that into the next week or every other week, create a rotation out of it. You can kind of essentially snapshot what you're seeing on your screen and then save it to load in whenever else you might need it. So using again the handy wrench icon, you would save whatever's on your screen as a new template, give it a name, maybe a description and save. Then within the next week, you can use the wrench icon again or any other week that you're in and load in a template. So I've loaded in a ton of templates. Maybe it's a rotation or maybe it's a specific position schedule and you can layer templates if you also want or you can just make a template for your whole entire schedule. I'm gonna load in my auto schedule template. Auto assign is actually a better word for it. So the next thing I wanna cover and the last things we get to other questions is our auto assign tool. So this tool essentially allows you to push out all of your open shifts to your employees depending on their positions, their tags, their time off, their availability, things like that. So you can build out all of the coverage that you know you need for your business. You can save that as a template like I did so you can load it into any week and then you can push out those shifts automatically to your employees without assigning them out individually or dragging them into the employees. This will just do all the work for you. So open shifts, for those of you who don't know are unassigned shifts. So they are shifts that you can either build out your coverage and click the auto assign to push those out or you can publish out open shifts to have your employees grab first come first serve. But right now we're just working on the auto assign. So by clicking auto assign here you'll get a couple of settings that you can configure. And the really important ones are things like max hours, unavailability and availability preferences, multiple shifts in a day, things like that. So once you configure the settings that you want to make sure everything is good you can run the auto assign and you see how that just pushed out all of the shifts that you need for your week without you having to do any assigning. So once I save the shifts anything that isn't able to be pushed out is gonna remain in open shifts for then you can either schedule that out or you can publish out those shifts. And again your employees will be able to grab them based on their eligibility. So those are the, I went over a lot but those are some of my favorite tips and tricks to make scheduling easier. Great, so we did have a question come in about open shifts or about leaving ships open and you addressed it there as you were explaining the auto assign tools but I just wanted to highlight that again. So if you choose to publish shifts that are present in that green row at the top that pushes that basically like announces to any qualified by position and eligible they don't have time off for another shift to, hey there's ships available and then those qualified and eligible people will be able to view those shifts or that shift and then add it to their personal schedule. So that is, we call that open shifts in when I work and so yes, you can have flexibility for scheduling and kind of let employees to a certain extent choose their schedule of the available shifts that you're creating for them in that way. So I just wanted to reiterate that that you kind of hit like two or three birds with one stone memory. So, cool. And then we have a question I haven't ever gotten in a webinar but it was, it's awesome. So it was the, I can't answer this one cause I don't think we need to show anything but it's what is the general lag time from making a change like to a schedule in the application to that showing like on other devices or for other people and the answer to that question is any changes that are made from one device by somebody will, are they kind of immediately take effect? The only caveat there is like, let's say you have two managers that are viewing the schedule at the same time from different locations or if one of them is working remotely if somebody makes a change to the schedule the other person wouldn't see it like immediately if they were in the scheduler at that time they would need to refresh the page and the same goes for like a mobile app. So if your employees viewing their schedule and then all of a sudden their manager 20 miles away publishes the schedule from their computer at work the employee would be notified of those shifts but they would just have to refresh the scheduler page or navigate away from the scheduler page and back to it on their mobile app to see those changes. So it is immediate, but there's just a slight like it won't like a new shift wouldn't just pop up for somebody in the scheduler if they were currently viewing it at that exact same time. That's a good point. And let's get. I just want to mention real quick that for employees when any changes are made to the schedule as long as they have their alert preferences set they'll also be getting alerts. So they don't have to just be sitting and refreshing their page either. They'll be getting emails and those like notifications that there's been a change as well. So we were really good at notifications and when I work and letting everyone know when a change actually has been made as well. All right. So we still have some handful of questions that I think are great and applicable to a lot of different industries and businesses and stuff. So we will get to those. But so the first one is about access levels. So can you give access to different people to be either a secondary person to approve and verify time or manage the schedule? And they're also asking is there a way to like have final approval by an administrator? So I think kind of outlining how like somebody else could make the schedule and then keep it unpublished for their admin or somebody else to review would be awesome. Definitely. So we do have a couple of different options for adding administrators or managers or supervisors within the system. So it's not all up to one person to be managing their when I work account. So I'm gonna hover into my employee list here just to show more about the options that we have. So we have three different access levels that are above the employee access level in when it works. So we have employee, which is just a regular access to see a schedule to clock in and out. And it's essentially do the things that employees do. Then we have the supervisor access level. So that's kind of one step above the employee. The supervisor access level allows that specific employee here, Ross is a supervisor. This allows the employee to manage the employees on the schedules that they are assigned to. So in using the supervisor access level, you can easily create teams or departments with one specific manager or supervisor attached to only the employees on that one schedule. Right above the supervisor access level, we have the manager access level. And that is just essentially a manager that can add shifts for, review time sheets for employees that are attacked to any schedule. So they aren't restricted like supervisors are just to just managing certain employees. They can manage all the employees in an account. What they can't do is they cannot access the account and billing page on your when I work account. So they won't be able to go into your account and billing page and make any changes to that. You can then add up to three admins on the account. The admin is kind of the highest access level. I am an admin on my account and I'm the only one, but you can add up to three. So here you could create admin, one of three seats assigned. The admin is basically the highest level. Again, you can do anything within your account, change any settings and access and change your account and billing settings.  So all of that can be configured within your employee's settings. Generally under advanced details, but all of this information and all of the really small details of what each access level can do can be found within our help center. So if you wanna do a really deep dive kind of and see a chart of what each access level can do, we have the article for you. Just open up the need help tab and search access level or admin or manager, any keyword. And we do have an entire help article dedicated to helping you figure out which employees should have which access level because there are a couple of important details. Like I mentioned, can your supervisor see wages, things like that. And so definitely check out the help center if you wanna know a little bit more about that. And then I think the second part to the question was can maybe a manager or a supervisor like create the schedule or then wait for final approval for the schedule. And yes, if you want, your manager could log in just like I am now. They'll see pretty much the same view of when I work. They'll hop into the scheduler. They will create shifts. And when you create shifts, you can see that these shifts are dashed. And that means that it's kind of like a template or a work in process. It's an unpublished schedule. So right now they're just creating potential shifts, essentially. So once they do create out that potential schedule, they can hold off on publishing the schedule. And that way you or any other actual admin could come into the system log in and they'll see the same thing here. They'll see this unpublished schedule, review it, make any last minute changes and then they can go ahead and publish out those shifts on their end. And when you do publish out the shifts, you'll see the shifts turn from dashed to solid. So anytime you see a solid shift, you know it's published, your employees have been notified and it's kind of a final schedule. If a manager then logs in again, needs to make any changes, they can go ahead and oops, and then make a change. And then you'll see that any shift that's been changed. Again, is gonna have those lines through it. The publish a notified button will turn orange or yellow. And then the admin could then log in, see something's been changed, take a look and then publish those out. I officially use the word mustard for that color after being as confused as you for like a year at what it actually was. Colors. I've landed on mustard for these, there's some shifts that need to be published, color in that button. I like that. Yes, all right. So we do have a question coming up and because we have a few minutes left, we have a question about attendance time clocks that I definitely want us to address. I'm going to post in our chat in Zoom, a bunch of resources now to give everyone a chance to copy and paste those and almost all of these are, I mean, all of them are available after this. So if you don't get a chance to copy these, feel free to chat in with us and we can direct you to these links. So I'm publishing that in Zoom chat right now. So that is published. And then there's a question, another quick one that I think we can address and make sure that we get to as many as possible before we get to the attendance question and kind of the end. If we go over, if Marie and I get long winded at any point or fine go until for two or three minutes over to make sure that we get all the information that we want, if you've got somewhere to go, then feel free to check out and leave right at the end time here in two minutes. So the question I want to answer quickly for the attendance question is, is it possible to schedule like different kinds of employees like regular part-time and casual employees? And I feel like what Marie's covered has kind of not directly, but answered this because shift blocks and when I work or there's a start and end time and you assign them and as you assign them you see like the different hours under the names and the scheduler. So yes, when I work can be used to schedule as many employees as you want. You can use positions or tags if you want to make sure that other schedule managers know if this is a part-time employee. You can also add a max hours for each employee profile to help be used as a guideline and Marie can kind of highlight there as I'm talking. So yes, so there's a ton of different tools to help you differentiate the different types of employee you can schedule for to make sure that you're staying within the dedicated range. Like I know we have a lot of like community pools and lifeguards and stuff that use when I work. And so they have 14 and 15 year olds working and there's in certain places there's restrictions on how late they can work, how many hours a week, how many hours a day. So stuff like max hours and just setting those guidelines really helps a business make sure that they're not crossing any lines they don't wanna cross. And then, all right, so the attendance question. I am a consultant looking to have a system for a client who is looking for a tool where communication is cohesive and staff is able to clock in from anywhere. They also ask what devices are compatible with the remote clock in system, but I will, I'll post the minimum requirements link in the Zoom chat. So that, so you don't have to get to that and we don't have to go over a ton of time here. So looking for a system where communication is cohesive and staff is able to clock in from anywhere. Awesome, so we do have an attendance tool. This allows your employees to clock in and out. You can have your employees clock in and out three ways on when I work. The first way is to have employees clock in and out on a computer. So that would just be them logging in on their computer, hovering over the attendance tool, clicking clock in. And this can be done from a laptop. And then you can also lock a device as a terminal at your work location. But if you wanna have your employees clocking in and out anywhere, the best tool for you would probably be our mobile clock in tool. So you'll just turn on within your attendance settings here. You'll just turn on your mobile clock in. This will allow your employees to use their app to just click the big clock in button at the bottom of their screen. And that will automatically clock them in and they can do the same to clock out. And it's all from their own device. So this is really great if your employees are all remote or if they're on the go and they're all clocking in from different locations. This is really gonna work well because all they have to do is use their own device to do this. When they do clock in and out, all of their time punches will be populated onto their time sheet and they can add in like notes for you upon clock in or clock out. That really helps with communication and making sure that you know everything that happens on the shift or any other information that you might need to know. And then the other communication tool that really helps within when I work is WorkChat. Definitely use that if you wanna boost communication within your team, it's just our in-app messaging system that allows you to message with your employees. Again, if they are clocking in and out when they're remote, they can use the WorkChat tool and be communicating with you when they are remote. So that's another really, really good option for communication and boosting that communication with your team. But again, just use the mobile clock-in tool. It's gonna be at your best bet for those remote clock-ins. Did I hit everything, Tori? I kinda just sped through that. Yes, I know we're a little bit of crunch time, but yeah, no, that was a good, again, 10,000 foot overview of it, but yeah, the short answer is communication tools is something when I work, it's a lot of value in, and yeah, our attendance thing can be configured in multiple different ways to hopefully fit the majority of businesses' needs. Yeah, we have a ton of different options and just check out by hovering over the gear icon, check out your attendance settings, and this is gonna give you kind of an overview basically of everything that has to do with the attendance tool and all the different tools that you can configure, that's where you can configure mobile clock-in, your personal computer clock-in, if you wanna restrict where your employees are clocking in, that's where you can do that as well, or even restricting when your employees clock in, we have a ton of different options. All right, so hopefully we went over most of the questions, but I'm gonna go over a couple of different resources that we have and then our plan options. I'm just gonna quickly swap my screen. Again, if you do have to be going, no worries at all, but here we go. Can you see my screen, Tori? Yeah, awesome. All right, so we do have a small business scheduling plan that's gonna include all of the information that we talked about today. So that's up to 100 users. If you have more than 100 users, get in contact with us and we'll get you in the right direction. But the small business scheduling plan is basically the main plan that we offer, and it's gonna include all the scheduling and communication tools we talked about today. If you need any attendance add-on and functionality that comes with the attendance add-on, that's gonna include things like time sheets, that mobile clock-in, and all that time sheet information that we kind of went over just now right at the end. So if you need both, you'll just be small business scheduling plus attendance. If you just need scheduling, you'll just be the small business scheduling plan. Super easy, and we've made it just super easy for you to figure out what plan you're on and also to actually get on a plan. To get on a plan, you'll just visit your account and billing page when you log into your account. You'll click upgrade my account and then you'll configure which plans you want and which billing frequency you want. We have monthly or annual options. And then you'll choose your amount of users, bundling groups of five. You'll see your total here and then you'll be able to purchase. This is all done from within your account, so you don't have to get in contact with anyone if everything looks good on your end. You can just do this all on your own. But of course, if you have any questions as you get started, you can feel free to get in contact with us. Tori actually, again, did send out all of our resources into the chat so you can use those links, copy them to your notes. And that will include all the information you need to get started. I wanna highlight that you can get in contact with us from within your account using the chat bubble on the lower right hand side or via email at getting started at wheniwork.com. And we're here to help. Any questions that you have, don't be shy. We are here to help. And if you need any additional self-help resources, check out our help center. The link is in there as well. That's our help center where you can search for any articles and our education center, which includes our full comprehensive training videos. So take a look at those. Those are gonna be super, super helpful for you all. But with that, that's a wrap. Tori, do you have anything else that you wanna add? No, not at this time. Just like I was very, like I had questions that come in are always good, but like the amount and the types of questions we got today were just excellent. They were great questions, really helped guide this. And I apologize for us going a little bit late, but there was just a lot to cover because of the great questions. So just, I appreciate everybody registering, joining, showing up and I look forward to any interactions our team get to have with you guys as you learn, trying to set up your accounts. Awesome. Thanks you all for joining us today, taking the time out of your day. And yeah, again, contact with us if you need any other help. Bye everyone.


The number one rule in investing is know the risks of the investment, not the rewards. First assess what can go wrong and then look at what can be positive. 99% of the investors first look at the returns, the potential, how much can Facebook grow, how much can Amazon grow, what will happen if this nano chip is applied to these mobile phones, what happens that. So everybody is focused on the reward, especially in a bull market that's eight years long. However real investors, they focus on the risk, what can go wrong, what can go wrong, how much can I lose and when they know how much they can lose, then they go and compare with what can happen positively and then they assess the risk and the reward. It's all about risk reward in investing. That's the top rule in investing. And what you want to find is positive asymmetrical risk reward situations. In this video I'll explain what a positive asymmetrical risk reward situation is. Let's start immediately with a chart. This is a positive asymmetrical risk reward situation. So you can lose maximum ten dollars if you invest in a stock that's priced 100, but the potential upside is 180. So the potential win is 80 dollars, the loss is 10 dollars. A negative asymmetrical risk reward situation is one where you can lose more than what the potential positive reward is. So in this case investment of 100, maximum loss is 60, potential increase is 46. You want to be invested in the first case, so this case where the loss is minimum and the upside is maximum. So it's essential to focus on risk and position yourself that your risk is limited or minimal in comparison to the upside. If you can lose it all, but you can make 10 times if something happens, then that's a good positive asymmetric risk reward situation. But if you can lose it all and you can just make double, then it's not a good situation to invest. Let's check how this risk reward asymmetric thing applies to the current market. Now let's say current SAP 500 price earnings ratio is 25. Earnings will grow alongside the economy which is expected to grow at 2%, 3% per year for the long term. Does the current earnings yield is 4%. If we attach a growth on that of 2%, 3% per year, don't be fooled by the current growth in earnings in the last 10 years are flat. So leave that to temporary movements. So we have a situation where we have potential gain is 5% per year, while the potential loss if a recession comes in the next 3, 4, 5 years is at least 50%. So the maximum loss let's say is 50, the potential price increase is 44. This is a negative asymmetrical risk situation coming from stocks. A similar situation is with bonds, especially with interest rates so low. So let's look at a 30 year treasury constant maturity rate yield. You can see how the yield went from 2.2% to almost 3%. Now that's nothing. That's not a higher return. You shouldn't be happy. And let's see what happened to the 20 year plus treasury ETF. It fell 15%. So if yields go up more significantly then this ETF, all bonds 20 plus 30 years will fall even more. That's what's the situation in bonds. We have a 3% yield, that's a fixed one and we have downside 15, 20, 25, 30% if those yields increase. So the downside won't be covered by the yields. So that's a very negative asymmetrical risk reward situation. I wouldn't invest in that. So as you start looking at risk reward, you will start finding asymmetrical risk reward situations and then you invest. And that's what this channel is all about. Minimizing risks for maximizing rewards. So if you're interested in something like that, be sure to subscribe as we constantly analyze the market's stocks in order to find the best asymmetric positive risk reward situations. Please leave your comments in the comments section below. I'll be happy to answer any questions. Don't forget to subscribe as I said and I'll see you in the next video.


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Very good. So good afternoon and thanks for joining us today. And again, thanks for your patience as you listen through these briefs next slide, please This afternoon, I will be providing a brief overview of the Department of the Navy FY 15 budget submission This submission continues to be grounded in the strategic foundation highlighted here It builds on the quadrennial defense review which builds on the defense strategic guidance as was talked about earlier today So we use those documents and those strategies in concert with the secretaries the chief of naval operations and the Commodance priorities to guide the hard choices that we're going to be talking about today. I Think it's important to note that consistent across the full scope of all that strategic guidance You see up there the President's capability and readiness of the Navy Marine Corps team has never been more essential to the strategy Next slide This is the Navy Marine Corps today shown here is the output of decisions made to balance requirements and resources in prior years in the current year's budget These are the investments that generated the President's the capability and the readiness that you see today So very briefly around the world. We have 42,000 sailors and almost 5,000 Marines underway deployed on over 100 ships To carrier strike groups to amphibious readiness groups with the associated marine expeditionary units There's an additional 30,000 sailors and 35,000 Marines forward around the world including 6,000 Marines currently serving in Afghanistan and 25,000 Marines in the Pacific area of responsibility Consistent with the QDR and the DSG you'll see that there's 49 ships in the Pacific and 32 ships assigned and deployed to the Middle East So these are the forces that over the past year Gave the President options banning combat credible forces that influence the options for diplomacy in Iran and Syria To the immediate response to the typhoon Hyann and Philippines by the GW strike group as well as by marine C-130s and V-22s This is a Navy Marine Corps mandate here to be where it matters when it matters Next slide This is the funding input in constant year dollars that resources in the Navy Marine Corps going forward So as you can see from the FY 10 peak to the end of this fit up FY 19 In real terms the resources are down by over a fifth And that's with the additional funding that undersecretary Hale discussed earlier today above the sequestered BCA levels If continued to the BCA levels shown here out to 2023 the department's resources would be down by about a quarter Even if you assumed a notional level of OCO out in FY 19 The reduction would still be in FY 19 from the PB plus a notional OCO about 19 to 20 percent So this is the very challenging fiscal environment in at the same time that we're dealing with a dynamic and still very dangerous security environment that The department dealt with the programmatic priorities shown here were applied to achieve a balance force Aligned to a consistent strategic foundation that we talked about next slide Bringing that display now into then your dollars is shown here and if you do the first build please So what this is showing in the gray box is is the reduction from the PB 14 level That this is in this year's submission You'll see that it's 38 billion dollars less for the department of the Navy over the fit up and 15 billion of that is in the first year Balancing that reduction is what? Required hard choices that required some innovative solutions and approaches and required strong stewardship initiatives that we'll be talking about in the upcoming slides next build If the department were returned to the sequestered levels of funding which is shown approximately by that red arrow That would be an additional fit of production for the for the department of the Navy of 39 billion dollars That's testified by the service chiefs in November The department would not be able to execute all of the department the defense strategic admissions at that level We estimate those reductions to accommodate that level of funding would require inactivation of a carrier Decommissioning of an air wing decreasing the size of the Marine Corps to 175,000 Removing six surface combatants from service and eliminating the plan fit of procurements of three DDGs a submarine and for TATF axis Those reductions will also further impact the readiness accounts decreasing presence and surge capacity Next slide So the next few slides will briefly cover each appropriation in detail and I'll highlight the major changes from the PB 14 submission This slide serves to provide an overview of how all the appropriations balance and I'll talk a little bit about how they change in Proportion of the budget from the prior year enacted level So starting with the mill per's which is in the lower left in red This appropriation is 31% of the FY 15 request It's up from 30% in FY 14 and 29% in FY 13 That reflects a top line coming down while end strength essentially has been remaining flat The operations and maintenance account in blue funds the elements needed to operate the force This account was 29% last year in the FY 14 omnibus enacted level Which was a decrease from 32% the year before reflecting the additional oco funding that congress Applied in the omnibus appropriation in the PB 15 submission. This level returns to the 32% of the base budget The procurement account in green Has declined from 28% in FY 13 and 26% in FY 14 to 25% in this submission Reflecting the fiscally driven reductions in procurement Particularly in aircraft and weapons procurement Research and development has grown slightly from 10% the last two years to 11% and that reflects the priority given to developing key capabilities for the future And finally new infrastructure investment as a share of the budget declines from 2% to 1% Reflecting the overall fiscal pressure on the navy and marine corps accounts Next slide In mill perrs. You see two services on slightly different paths the same as last year The navy is ending a decade of plan to end strength reductions and stabilizing the force to improve manning at sea To improve seashore rotation and to increase cyber capabilities The FY 15 budget specifically targets improved fit and fill metrics And fit as the percent of sailors assigned to a billet with the required skill code the nc classification Fill as a percent of authorized billets filled This budget targets fit and fill metrics of 92 and 95 respectively an improvement from last year's target of 90 and 90 percent The marines continue to downsize and so you see an fy 15 base funded level here of 1827 That includes the first 600 of an eventual 1000 increase in the marine corps embassy security guards The marine corps also has okofunded temporary end strength expected to end in fy 16 As under secretary hail discussed earlier today The decreased manning levels that you see in these slides outside the budget year i.e. in fy 16 through 19 In both the navy and marine corps cases largely reflect planning levels pending the decisions to be made In the fy 16 budget submission regarding marine corps steady state and strength and the retention of 11 aircraft carriers and 10 carrier airwings It's important to note that no personnel changes will be made until there's a final decision in particular on the carrier and the airwings Under secretary hail also discussed today the compensation and benefits changes proposed in the budget for the navy and marine corps The savings from slowing the rate of growth of military paying benefits benefits are being invested to improve the quality of service of sailor marines these investments include training enhancements such as improved training ranges and simulation capabilities To include small arms training as well as increased travel funding for training investments in spare parts and enhancements in surface ship maintenance More broadly this budget also funds increases in career see pay and career see pay premium that recognize and reward Sailors and marines that are spending time at sea It funds a high deployment allowance that compensates for the rigors of extended deployments And it presures critical skills bonuses to retain our most highly skilled sailors Next slide In the civilian personnel accounting, you'll see a slight increase in fy 15 and a steady decrease across the full fit up navy fy 15 increase of about 1500 full-time equivalents reflects A continued priority on getting ship maintenance right with additional mandates for overhauls and availabilities at our regional maintenance centers It also reflects increases to critical programs such as sexual assault prevention response and cyber US marine corps growth of 800 full-time equivalents is consistent with the level that is being executed in fy 14 And also reflects again increases for specific items such as increased cyber capability and the increases in the marine corps embassy security guards These increases are partially offset By headquarters reductions that start in fy 15 and reduce headquarters personnel over the fit up by 20% As well as some other reductions that were taken based on affordability Overall these levels reflect the essential contributions of our civilian personnel throughout the force both in washington dc And more broadly over 90 percent of our civilian personnel are contributing to the Force outside of dc training our people fixing our gear and managing our infrastructure next slide The department's readiness counts are tightly focused on the op tempo that our combatant commanders are requesting Properly sustaining our ships and aircraft to reach their expected service lives and properly training our people The fy 15 base budget metrics are funded to the historic levels You see here As under secretary tail indicated earlier today The department anticipates submitting an fy 15 okko request later this year that includes reading this funding that improves these metrics Very briefly overview as with the fy 14 requests this budget funds ship ops to 45 days underway per quarter when deployed 20 days underway when non-deployed flight hours to the Historic standard metrics of t 2.5 and t 2.0 for navy and marine corps respectively Ship and aviation depot main is 80 percent in the base Marine corps ground equipment at the same level as last year with much of the remaining Okko reset of the equipment and facility sustainment funding which decreases from fy 14 to 70 percent in fy 15 for the navy And 75 percent for the marine corps In fy 16 and out however The sustainment funding improved to 83 percent and 90 percent respectively for the navy and marine corps Next slide The second half's goal is to achieve stability in shipbuilding To affordably meet our warfighting requirements and you will see that this budget has prioritized shipbuilding to meet that goal This program buys 44 ships in the fit up compared to 41 in the fit up last year 14 to 18 And 43 in the 15 to 19 columns of last year shipbuilding plan Two destroyers and two submarines are purchased every year across the fit up There was one less lcs purchased in fy 15 than last year three versus four Reflecting that 15 billion dollar top line reduction. I talked about at the beginning. We bought what we could afford In accordance with secretary Hegel's lcs decision The lcs program continues as shown through fy 18 to a total of 32 ships buying 12 in the fit up The two units shown here in fy 19 reflect the prior program As directed the navy will provide small surface combatant proposals in next year's budget As well as regular updates of lcs testing and deployment experience Other changes from pb 14 include the addition of one afloat forward staging base in fy 17 that delivers in fy 20 Sliding lx r one year uh with advanced procurement now in fy 19 and full funding in fy 20 due to fiscal constraints Also due to a top line reduction pv 15 aligns delivery of canady cv n 79 from the latter part of fy 22 to fy 23 In the rcoh line refueling complex overhaul as secretary of defense hegel also announced The department will make a final determination on refueling the george washington and the fy 16 budget submission Pending that decision this budget funds planning for the defueling required Overall in fy 15 eight ships are delivered and 13 are retired bringing the fy 15 battle force count to 283 Going forward the battle force grows to 309 ships by 2019 with this plan Finally as secretary of defense hegel also mentioned given pressing resource constraints the pb 15 submission Proposes to place in a special status special category and induct into phase maintenance 11 cruisers starting in fy 15 This approach is driven by affordability But it provides substantial cost savings while modernizing the ships to the latest capability and extending their service lives A similar program has also been proposed for three lsds on a rolling basis modernizing one at a time Next slide In the aircraft procurement appropriation overall reductions of 111 aircrafts and nine billion dollars are taken from pb 14 level Reflecting the fiscal pressure the resource pressure. We talked about Fy 15 reductions include four f 35 charlie carry variant jsf aircraft 10 e2d's and 10 p8's The initial operational capability ios ioc dates for the f 35 charlie and e2d remain unchanged with these profile changes In 2019 and 2014 respectively and the p8 has already achieved its ioc And the super hornet and growler line those fleets are transitioning from production to sustain it Key super hornet modification programs are funded in this budget to include the new infrared search and track pods In the uav section the u-class the unmanned carrier launch surveillance and strike system Remains on a path to achieve early operational capability by 2020 with a contract award projected for fy 15 And finally the trident mq4 has been refazed as shown in this profile to account for a delay in development Of note the fy 15 opportunity growth and security initiative that under secretary hale talked about Has a design focus on readiness and modernization And the department of the navy request for that includes eight p8s and one e2d among other aircraft required Next slide In weapons procurement Fitup investment was reduced by 2.8 billion from the pb 14 level Reflecting a combination of resource pressure and emittories reaching requirements Fy 15 is the last year of the tactical tomahawk procurement as that program transitions to sustain it with a recertification depo line And modifications that are going to keep that weapon as a premier attack weapon Over the course of its service life while we develop the next generation land attack weapon In other lines i'll highlight consistent with qdr guidance to rebalance for a broad spectrum of conflict This budget funds key capabilities such as restart of the mark 48 heavyweight torpedo line With procurement starting in fy 16 and procurement of the long range anti service Missile the lorazum starting in fy 17 In aircraft weapons, we take a one-year pause in amram while operational testing completes and then ramp up production Next slide The marine corps procurement the base budget funding decreases by 275 million from the fy 14 level reflecting fiscal constraints A few major efforts i'll highlight in 15 include improvements to the light armored vehicle With funding to modernize the legacy turret and the tow missile system There's funding to begin procurement of the humvee sustainment modification kits Development and testing of the joint light tactical vehicle, which is a the newer vehicle provides improved performance and protection Compared to the current humvee fleet fy funding supports production of seven l rip vehicles And the budget also supports the procurements of additional low rate initial production Ground air task-oriented radars radars, which is an expeditionary radar designed to detect rockets missiles and artillery next slide In the r&d account science and technology funding declines 2 in fy 15 and then remains steady over the balance of the fit up A few major systems i'll highlight f35 charlie funding fully funds the system development and demonstration to maintain the stovill ioc in 2015 And the carrier variant ioc in 2019 ch 53 k is refazed due to affordability to a path that puts it on Track for a milestone charlie In the third quarter of fy 16 The executive helo starts system development and demonstration this year with milestone c scared in fy 19 In shipbuilding the navy's top programmatic priority the wahail replacement program continues on track For a lead ship construction starting in fy 21 In the amphibious combat vehicle program the marine corps has refined its strategy and restructured the program to provide a phased incremental approach This budget will fund the manufacture and testing of the first increments prototype vehicles As well as continued tech development for later increments On the slide you'll see the electromagnetic rail gun highlighted This gun is a key future capability that's under development And it's funded for an at sea demonstration aboard a joint high speed vessel in 2016 Finally an important element of the stewardship initiatives that i'll highlight at the beginning beyond the 20 management headquarters We already talked about It's a three billion dollar per year initiative to reduce the cost of business across our acquisition enterprise Spanning r&d o&m and procurement accounts This includes actions to reduce contracted services And partly that's being done through requirement review boards also known as contract courts To reduce cost growth with increased competition consolidation of multiple service contracts use of Should-cost management as well as eliminating lower priority and lower return of investment tasks Next slide The navy and we core have pressurized fy 15 milkan supporting the department's most pressing needs with 41 construction projects fy 15 milkan supports the introduction of new weapon systems With projects such as the ohio replacement program Power and propulsion facility in philadelphia an air wing training facility in fallon nevada that supports jsf milkan also supports priorities such as nuclear weapons security Completing the last year of explosive handling warf in washington Enhancing global posture with a wing and support squadron facility in guam And quality of life with the beq in yorktown virginia In family housing the navy request supports operation leads lease and maintenance of 10 000 units worldwide and the marine corps requests 1300 units worldwide No new public private ventures were funded in family housing construction The 16 million shown funds revitalization of 44 units at marine corps air station iwakuni next slide As under secretary hail discussed today The president's budget proposes an opportunity growth and security initiative focused on readiness modernization and improving facilities The department the navy share of this initiative is nine billion dollars and features items such as those shown here Next slide So overall i'll wrap it up here The real takeaway is in this period of fiscal austerity The department has put together a budget at a time of continued very high co-con demand For naval forces that balances investment in presence and capability and in readiness It's laser focused on ensuring force wholeness and sustaining our war fighting the edge in alignment with the strategy that we started the brief with subject to your questions yes The decision on the cruisers how much exactly will that save and is that the first step towards Decreasing the size of the cruiser ultimately decreasing the size of the cruiser fleet. All right, so we estimate that That approach will save about four billion dollars over the fit up And it is not the first step to decreasing the cruisers. There is an acknowledged enduring need worldwide need for the cruisers These are the air defense commander core vessels That are required to Sale with our carrier strike groups So the department's absolutely committed to modernizing these ships over the long term It's a very well thought out plan and as I acknowledged in the brief it's driven by affordability concerns But we think this is an innovative way to keep these ships in the force to modernize them to the most current capability And to sustain their lives Can you break out the marine core part of the budget and the navy part of the budget in terms of the top line? Excluding okoh and kind of compare this year's request to the fy 14 Request and the enacted right so we'll get the numbers here, but I mean yeah overall Just from 14 enacted to the 15 the department of the navy request goes from 149.8 to 148 So even in then year dollars, let alone real real terms the the top line is decreasing and Mary, you know that probably actually is a question better for us to take We just give you those figures at the appropriation level of that split Yes, ma'am Can you say a couple of words about the ch 53 k refasing and then also I just want to ask you about the If you could help me understand the Oh the osg fund or initiative a little bit better So like you know you go from 16 p 8 and 14 to 8 and 15 in the base budget And then you get eight in the osg All right So the ch 53 k obviously is the marine corps heavy left aircraft that is absolutely An imperative for their mission and as a former Expeditionary strike group commander in fifth fleet. I can tell you that You the Affirmious readiness groups and the marine x-barry units I had had the full scope of the new aircraft the new Yankees and zulus had the v 22s And we absolutely relied on the 453s typically employing them on the lpd so very important capability Fiscal reality is a hard thing and so as we balanced again made some hard choices The 53 k was seen as one where we could slide that a year based on the existing inventory and still get to where We needed to go with recapitalizing that part of the the marine expeditionary unit Um I'm sorry, I mean when when will that program like so just gets delayed by one year, right exactly right The opportunity growth and security initiative under secretary hale talked a little bit so You know i'll defer a little to some extent to the osd talking points on it, but essentially it is a It's not part of the budget submission. It's an administration-wide Initiative that's broader than do d. There's a domestic Government piece of it as well And it is designed again to focus on some fairly specific things on readiness on modernization So you will see for example No force structure across these requests And improving facilities so in the department of navy one it's again. It's one year only it's fy 15 There were investments spanning the things that highlighted on the slide but to include sustainment Funding that brings the department from the 70 and 75 respectively almost a full sustainment funding To your question on p8. So um, there are eight in the base budget based on again The choices that were made and how to balance those elements of presence capability and readiness That were made um And because it was fiscally driven the and it was you know modernization The balance of that eight were requested in the ogsi fund Tony Can you try the uh, the george washington decision again to clarify it? This budget basically just funds a 10 carrier force contingent on a potentially Refueling decisions next year for the george washington. Is that accurate? Right? So Starting in fy 15 this budget fully funds the gw and its air wing. So the gw In fy 15 in the budget year it fully funds the gw is in japan obviously it returns to norfolk in The latter part of fy 15 actually in december of 15. So that would be fy 16 So it's fully funded for operations and it fully funds it to return here So in fy 15 the budget year. There's no issue. So what secretary of uh, under secretary head was referring to an fy 16 and out in next year's budget A decision will be made based on the factors he talked about About whether to refuel that ship or to Not refuel it and inactivate it based on the the discussion he talked about In terms of the conversation with the congress If you're forced to refuel the ship and keep it in in the inventory Is that about a six to seven billion dollar increase over the fit of the navy has to find correct Aircraft question. I was matching the fit of last year with this year on the joint strike part of the sea model Last year you were asking for 69 now. You're asking for 36 So you've maxed out 33 correct Reason being affordability Not tail hook issues or anything. So, I mean we're working through those issues and we see a steady path forward on those But this was a fiscally driven Decision and what's important is it still gets at the ioc So the what the requirement is to have the 3f software have this aircraft ioc and fy 19 We're selling a path for that but in terms of the affordability That's the decision was made here Like the aviation week. You mentioned in the budget documents this kind of passing reference to Improvement programs for super hornets and things like that for the mods and everything give me an idea of how much that's going to be at least in fiscal 15 For the specific mod line for f18 And we'll we'll get you that data Secretary haig will use the term reduced operating status for the 11 cruisers Will they be kept in commission with reduced cruise or how how is that going to work out? Right, so they're going to be in a special status With reduced cruise and that analysis is still being done right now And I think I can talk to at a high level that but we'll also have additional detail on exactly how that works But those 11 cruisers will start their phase modern as modernization in fy 15 I'll go into the special status I'll go with reduced cruise and then they were going to start going into the combat systems mods and phase Availability's likely starting in the fy 17 time frame Sir, um, I'm appreciate your helpful seat power. Uh, oh, there's an alternative local package In the DOD budget. All right. You have an idea what the navy part of that He and most of that go for the core or What's the native version of local? All right. Thanks. Um So his undersecretary Hale described that he said it's a placeholder It's a placeholder level of 79 billion and the reason he said again is because we don't know what the enduring presence In afghanistan will be which would inform so much of that analysis I will say for the navy's case a lot of what we have funded inoko in terms of ship maintenance and steaming days Is going to be in continuing for a number of Years after You know oef Essentially ends or we get to the steady state and that's because of what has been talked about I think in in other forums As the department has surged surface ships and deferred maintenance That's all maintenance and work that needs to essentially be recovered over time all those services have said You know upon completion of major combat ops or whatever that the determined endpoint for oku is that for a Number of years we're going to have to reset the force and use oku So to answer your question more specifically We have not done The specific analysis on But across the the marine core And the navy and what the elements other than more broadly what I talked about in some of the readiness accounts Where we again will bring those up to 100 percent in in the readiness funding You haven't done on the elements Any concept of how much of that 75 bill Don which part of the navy would get All right, so I'm going to decline to speculate on what that percentage might be again as we decide what As a nation as the president makes a decision on what the enduring presence is In afghanistan that will inform marine core rotations that will inform The naval support of that and another point that is sometimes Subtle in the oku accounts is even as ground forces come out of afghanistan and out of that region As long as there's a requirement for overwatch and what remains that drives naval presence That drives our aircraft carriers and drives our operations to be available to support even a smaller footprint there Maintenance for their ships, but the marine core has a big reset for its ground equipment Is that you envision you envision that going on after we have absolutely Yes, ma'am hi mega next time with defense daily um So for f y 15 you have no unmanned aerial vehicles and across the fit of you have no mq 8 It was wondering what the reasons for that was and kind of what that does to the overall capability for the Right, so the apartment is very committed to unmanned air systems And so I talked about u-class in particular And and u-cast being a demonstration that continues on in f y 15 as well In mq 8 due to affordability the department made a decision to phase the mq 8 procurements to the lcs and there was in prior years a specific notion of procuring mq 8 specifically dedicated to soft And that is a decision now that the department will handle Through the global forest management allocation process, which is to say we have an mq 8 on an lcs and a command and command commander needs support for a specific soft operation But that's the way we'll handle that. Um, so that's that's what's going on in that line. Yes, sir John ember here from flight global could you quickly recap the ch 53k? I didn't quite catch what the decrease in funding was Or what the change was right, right? So we essentially slipped it a year or we phased it a year So if you look at the profile In aircraft procurement And I should actually say that's in the r and d line Yeah, so you have to go to the r and d slide And show that we we phased it and so essentially what we did is now milestone c is scheduled for the third quarter of f y 16 yes, ma'am Marine Corps times I'm wondering what elements of the Marine Corps Pacific rebalancing strategy are funded in this year's budget request And if that strategy Has been amended at all I've seen in the request maybe you could be a little more specific for me Between udp to deployments to australia To resettling on on right so at the levels that we're talking about the marine corps has continued to execute that plan There's been no, you know Large deviation away from that and in particular as you talked about with the rotational deployments to australia And what three meff does in terms of you know the pacific presence Really no changes to that In terms of anything you would see in the budget in terms of their funding for operations in terms of their funding for their end strength levels Again at 182 7 In this budget You know that's that's on a solid vector I already asked you so any yes, sir. Yeah, hi, uh, sam mcgrown with the naval institute Uh, just to follow up on megan's question. Does that mean that the navy isn't going to pursue the sea model of the fire scout for the mq8 line? Ed, do you have any insight on I don't yeah, I'll get that Budgeting in for the the change order taking the ddg-51 to the flight three variant and when when's that coming in So the flight three ddg is scheduled to be the second ship purchased in the fy 16 And then from that point forward, uh, we put your flight three ddgs Is there a change order built into the budget because that's that's a a lot of work to upgrade You know the two-way model to be able to handle the amdr It's that funding profile is supported that I just described in the budget in the corner Um, yes, sarah. We'll skew the news. Um in the qdr It says that by 2020 60 of navy assets will be stationed in the pacific including enhancements to presence in japan I was wondering if you could elaborate on what the enhanced presence in japan will be So let me speak to the the broader topic first And then the specifics of what might change in japan. I think we'll have to give some some data But the rebounce of the pacific was absolutely focused not only the qdr, but this budget So starting with the presence as you talked about by 2020 we'll have 60 percent of our battle force inventory assigned to the pacific In terms of actual presence in the slide we showed today the navy today You saw about 49 50 ships in terms of deployments there and we expect by 2020 that would be up around 65 In terms of the rebalance With the capability So you see the navy preferentially sending the most advanced And the most capable platforms and payloads to the pacific So the f35c the e2d the p8 the triton amram missile And in terms of the ships, uh, we see the zemalt the flight three ddgs The fourth ssn going to glom and f515 We've got the rotational marine forces in australia As well as the ongoing work with three mef there. So You see a very strong focus overall and support in this budget for that shift to the pacific And so we'll give you some data on specifically any sort of changes within japan Yes, ma'am In the opportunity growth and security initiative slide You have future force key modernization and it lists a few aircraft programs f35 is not listed Does that mean even if you all did have the funding you would not increase the numbers across the fit up on that buy Since you cut so many Right Right, it's not yeah, exactly. It's not part of that funding. Why is that if it was an affordability decision and not a capability Yeah, um You know, I would I would really have to say we'd have to look at more broadly what's in that that initiative Um So, um Yeah, so I would have to get back to you on that. Yes. Thank you. Um The marine core embassy augmentation program There have been some question about where those bodies would come from whether would be an additional You know additional force structure added onto the marine core or whether they were just going to have to find it Out of their existing size The slide that said 182 7 implied that they would get some extra people But not the full thousand that I believe congress is going to require Right. So the 182 7 is the f y 15 number which reflects the 600 additional that are are being brought in f y 15 as we ramp up To the higher number If sequestrations held off somewhere in the neighborhood of 183 at the end of the day so I think the Non sequestered number that the secretary has alluded to is 182 182 1 is a marine core number What's the 182 7 then that's the f y 15 level. So in terms of a steady state level what is being talked about is 182 1 follow up the The 600 additional maybe 900 additional for uh embassy 900 So, um We'll get you a specific number. It's either high 900 a thousand. It's it's in that time at that area Do you have a cost estimate for that? I um I'm sure we we will give you us. We'll get you a specific dollar figure for that end strength The overall the overall marine core budget does 22 billion sound like is that is that the number? We're talking about and that's about 1.8 billion down from last year So I think that's part of the earlier question and do you have that data? Okay, yes, ma'am I was wondering if you could highlight a little bit of the lcs mission modules. What what is f y 15 funding and what's There's one shift that's being pushed to the right All right, so that's a great question. I think I'm going to ask Lee ask uh Say what Okay, so give you that level of detail on specifically what the the testing is and how they're projecting We'll uh, we'll get that to you Sir Um, has there been any actual work done on that or a bushing for that program? So Okay, so an r&d line starting in f y 15 Again, so that's kind of managing that transition from from the tomahawk going to sustainment and to the initial r&d on that Uh, the tomahawk is going to be a viable weapon and well into the the late 20s So that's that's kind of how that phase is being done. Alrighty. Appreciate it. Thanks for your time today


Okay, so let's try this problem. It says write the predicted electron configuration for the following element. And then it gives you nickel, okay? So in order to do this particular problem, you're going to have to remember what the chemical symbol for nickel is, the atomic symbol for nickel. You remember that? Yes. What is it? Ni. Ni, okay, very good. So Ni. And then all we do is look at our periodic table and just go down the different periods, right? And decide if or what the electron configuration is for each one. So the first one is the first period, so that's called one. And remember, the first set of orbitals is called S. So in nickel, we've got to go all the way up to 28, okay? So we've got to add up all our numbers to 28, okay? So all of our superscripts to 28. So this one, first, we're going to always start with 1S2, okay? So the superscript 2 there, okay? So those things are going to add up to 28, okay? So after 2, we go down to our next period, okay? So then we're at 2S2, okay? Then we'll do 2P6, okay? Then 3S2. Are you following me? Okay. Can everybody else, can anybody else help me with this? What would be next after 3S2? 3T6, right? Are we to 28 yet? No. So what's next? 4S2, right? And then what? 3D. But not 10, right? Because nickel's in that period, right? In that set of orbitals. So it's going to be 3D2468. So that's the electron configuration for nickel. Are there any questions? Okay. Any questions on that one? My question isn't necessarily about that, but like you asked the question about the excited state, and I think I messed that up on the test. Don't worry about that, okay? So we'll talk about that in another video, okay? Any other questions on this? Okay.


Live from Cambridge, Massachusetts, it's the Cube at the MIT Chief Data Officer and Information Quality Symposium with hosts Dave Vellante and Jeff Kelly. Welcome back everybody. This is Dave Vellante and I'm with Jeff Kelly. We're here live. This is the Cube. We're in Cambridge, Massachusetts at the Tang Center. This is the MIT Information Quality Symposium. It's a symposium in a forum focused on the Chief Data Officer. This is the Cube's second year here. The Cube is a live mobile studio. It's Silicon Angles flagship program. We go out to the events. We extract the signal from the noise. Deborah Nightingale is here. She is a professor of the practice of aeronautics and astronautics and engineering systems director, socio-technical systems research center and co-director Lean Advancement Initiative. Wow. You've got a lot of stuff going on. Welcome to the Cube. Thank you. Great to be here. You gave a keynote earlier, so congratulations on getting that. So maybe talk a little bit about the keynote and what you were conveying to the audience. Okay. Well, we have an incredible group of people assembled here, but primarily their focus is Chief Information Officers, Chief Data Officers, and my work has focused on not only the information and IT piece of an organization, but rather looking at the whole enterprise a little more holistically. And it's taking a look at starting with, you know, what is your strategic objective? Are you trying to reduce your time to market, reduce your costs? And then understanding, first and foremost, what is going on around you? What's in your ecosystem that you need to be thinking about? Who are all your stakeholders? What do they value? And then thinking about this from multiple dimensions, where IT information data is a key enabler, but there's a lot more going on in terms of understanding what are your processes? What kind of information do you need? How do you reduce the complexity of these large enterprises by looking at these things and the pieces and then putting them back together again? So you made the point that it's not just the information technology silo, it's cross-organizational. That said, information technology permeates virtually every part of our lives, every part of organizations, much more so than 20 years ago, even much more so than 10 years ago with systems of engagement. Has that made your mission harder or easier? Well, a little of both, actually. So in some ways, because it's such a key enabler, it allows you to do things you could never dream of doing before. So you can come up with new business models, new ways of doing things that you couldn't do before because you now have access to all this information and data very quickly. However, it can also, people can go down this whole rail, it's like, well, let's just put in a new IT system that's going to fix everything and it actually causes more havoc and actually causes more trouble. So I think it's a very key enabler, but it needs to be used in an effective manner. So how is what you're involved in, it sounds a little bit like Alignment Circa 2014 and some of that in there, but what's new and different? So I think it's getting, first of all, working with executive teams and working with getting people to step back and say, okay, not only where do I want to go, but where am I right now and then how do I determine where should I go, where could I go, but taking into account not only what's happening today, but what are the trends out there? What's going on around me? What are my stakeholders wanting? So people today, if you think back about when you bought a laptop five years ago, what you look for and what did you look for today? What are the populations that are going to be using your products and services? How is that going to change? Presenting a more systematic approach based on concepts of systems engineering and organizational change to think about, okay, where am I now, but where do I want to go and how do I get there? So the approach that you talk about is a holistic approach, right? Yes. There are many organizations who are taking an approach that is more maybe siloed, maybe fragmented. What are some of the biggest challenges you've noticed when you've gone into organizations that you've looked at? Typically when you go in, what does the situation on the ground look like? Is it just a complete disaster zone or what does it typically look like from where they are, from where you want to go? So oftentimes, I would refer to as a very reductionistic approach, the very siloed approach. And in fact, we've identified a number of failures, and oftentimes I come in when they have gone through these failures and say, oh my gosh, how do we do this differently? And just a few examples would be like, well, when in doubt, let's just reorganize and evolve in through this, where look, if we come up with a new organization structure, that's going to fix everything. Or if you go back to Netflix as an example, a few years ago, they decided to divide up their online streaming company from the DVD, and they wanted to split it into two. And they didn't really check with the stakeholders. So oftentimes they don't understand, what do all of their stakeholders want or need? And they got blasted, and of course they quickly changed, and now they're doing very well. The other thing that oftentimes we work with organizations that have grown very rapidly because they've had some amazing new product or technology, but now they're at a stage where like, okay, I've got this new technology, but I don't know how to design the organization, the process, the infrastructure, the information to really take advantage of that. So frequently I come into an organization, and they've tried a lot of different things, and they say, well, this isn't working, can you help us step back and think about this? And they're actually the ones that are great because they get it. Right, so they bring you in because they recognize they have a problem versus those that maybe don't know or they even have a problem or they're missing out on some potential benefits if they were to apply a better approach to how they organize and manage their information and their larger business. Right, right. So obviously part of the process has got to be getting the stakeholders within an organization to cooperate, to kind of see eye to eye on a number of issues. How do you actually go about doing that kind of thing, aside from the technology, actually getting stakeholders in business and IT and operations and other departments to actually start communicating? So one of the most effective things that I have done, and I've done this in all different sized organizations, including doing this with the Department of Defense and having three star generals all in the same room from all those different parts of the organization, from the operations, from the design, from the human resources, the IT, all the finance, and getting them all in the same room to understand, first of all, who are those stakeholders? What do they value? And oftentimes they know what they want from their stakeholders, but they don't understand what their stakeholders want from them. So it's getting them in a facilitated sessions to start talking to each other, to also then to understand what's currently working and not working. And usually what they come in with, thinking is a solution, and after they go through this exercise, they say, oh my gosh, we didn't realize we were doing this to you, and so let's fix that as we go forward. And then getting them to create a shared vision for where they want to go. And oftentimes they each have a vision of where they want to be. And this is not a vision statement. It's like, what is it going to be like to be in this organization five years from now? What are the products going to look like? What are the processes? Are we going to have standard processes? What kind of information are we going to need to support this new way of doing things? And getting them to collectively find this and share it and create it in a way that they can share it out with their whole organization, so it's not just the executive team, and then get them thinking about the future and what are some different options for how they might actually architect or design their future state. And the future state could be one year, two year, five years. And for rapidly changing companies, sometimes it's very short time scale. But it's getting them to think about things before they just go out and start changing everything. And using a little bit of analytical tools to say, okay, which of these options are going to serve me better? And almost invariably where someone comes in and says, oh, I think we need to do this like the organization or the new technology. They come back and they say, wow, if we need to do maybe these things and get them to brainstorm all these different ideas of which they then start to formulate and some things get thrown out and other things they start to mix and match together to something they never thought of individually. How prescriptive, when you work with organizations, how prescriptive do you get specifically with the role of the CDO? How often does that come up? What do you advise people in terms of that role? I wonder if we could talk about that a little bit. Sure. Well, data and information, I mean, they run everything within the organization. And what has really changed, I think, is, in fact, when I first started talking about these kinds of things with a group of CIOs and I started to say, gee, you need to talk about all the pieces, the enterprise, and then the information technology supports that. I was like, okay, how are they going to relate to this? And it turns out they applauded because they say you make our job much easier because once you get this strategic direction and everyone agrees on that, then you can say, okay, well, of course we need this new data system or we need this kind of data to run our business. And we don't need all these other things we probably ask you to do. So it actually simplifies, it gives more power to what they need to do and more authority because people recognize how critical their work is. Okay, so there's consensus that data is sort of a new driver of value. Is there a consensus that there needs to be a data czar or a chief data officer? Well, I don't know if there's consensus yet. I think that's evolving. And I think the more progressive organizations are definitely doing that. I think they're realizing that you can't have everyone going off and doing everything separately. On the other hand, there's also this movement towards distributed things. And I think part of the challenge that needs to be done up front in the strategy piece is saying, okay, what things do we want to standardize? Do we need to standardize on across our whole organization, our common definitions, common data definitions? And then what things does it really not matter that if this person in their office or in this location does it their way and it's a little different, it's okay. And I think that's where we've changed. So that example you just gave, that's clearly not the role of the CIO. So that's a nice clean cut situation. So my follow-up was going to be, okay, in situations where there needs to be a CDO or there needs appropriate, the prevailing thought at this event is that it really shouldn't report into the CIO. And the example you just gave is maybe a good reason why. But generally speaking, do you agree with that? And what happens to the role of the Chief Information Officer if that's the case? Well, I think they need to be tightly integrated. I don't think you can totally separate the CIO and the CDO. I think where they report is very much a function of the culture of the enterprise that they're operating in. I think they have to have enough access to the CEO or the C-suite in general to make sure that they're understanding what the strategic issues are. And to actually help to drive some of these kinds of critical strategic questions. But I think reporting higher in the organization is an essential piece to that. But there's dissonance when you talk to folks. And you're good at the middle of the Venn diagram, your area of expertise. You've got one school that says, oh yes, it should be a separate role. The CIO really should be keeping the lights on, worrying about infrastructure availability. And then the other end of the spectrum is, no, that's the CIO's job. It's information is his or her middle name. How do you... Well, I don't think if you totally separate them, then you're back to the reductionistic silo thinking. So I think they have to be integrated along with a whole lot of other things than the enterprises have to be integrated. I think they can have responsibility for certain things. But there also has to be this overlap between them as well as overlap with other key strategic directions on where the organization is going and what their business models are going to and how they want to operate and all of those things. So I don't think you can totally separate them. Do you need, if the organization is long enough, you need to give them enough power and autonomy to do what they need to do, but you can't totally segregate them? So, organizationally then, should those two roles at least report into the same individual or can they report to a separate individual? What's that point of integration, I guess, organization? I think it probably is better if they report to the same individual, I would think, just because this is an integration you really want to be very tight. There's other things that... But even if you go into a lot of companies that have, say, an engineering and manufacturing, and they report typically into the same person, it's because you need to integrate across those and that's where I've had a lot of experience. Isn't that compulsory, I mean? Well, it's... Pretty much, table stakes or...? It sort of makes... It certainly makes a lot of logical sense to do that. But I think in the past, they've had the operational side of the house sort of... Oh, yeah, of course we need to do that and they've ignored the data, CIO information side, and they kind of put them maybe over here, sometimes even under finance or some other place. Now I think they're seeing how mainstream this really is. Can you talk about situations, organizations, maybe that you've worked with or studied where they've succeeded at such an initiative and what the impacts have been? So we often have... We've worked with a number of different organizations that have, again, from very small to very large and without naming specific names, where they were going off in a certain direction and they were oftentimes... Oh, actually, I'll give you one, we were looking at a hospital system and they said, help us do the emergency department, help us fix this, and we said, okay, we'll come in and look at the emergency department, but we're also gonna look at your whole hospital. So I'm gonna use a fairly simple contained example here. And when we got in there and started really looking at things, they wanted to put in some new technology to check people into the waiting room faster. So they were taking this, let's do a technology solution, right, and because we think that's gonna help fix this. Well, we got in there and looked at the whole thing from a total system standpoint. We said, gee, and they happened to have their primary care group right there as well. In fact, now 30% of people were in the emergency department because they couldn't get in to see their primary care physicians. And then they also had another big group of people who were stuck in an emergency because they couldn't get into the, they were needing to be admitted into the hospital and they didn't have beds ready upstairs. They had rooms, but they just didn't have the beds made up or they couldn't get things back from the lab. So when you look at this from a total system, and so kind of the redesign that they worked through, one of the ultimate solutions is they opened an after hours walk-in clinic, for example. It took a huge thing out of there. They also did some work to signal up the inpatient that they, hey, they need to get some rooms cleaned up and they fixed their lab turnaround time. So they solved the problem totally differently and they totally reduced the waiting times. Okay, so that's one, I was gonna ask you, common mistakes, that's one, just try to be too focused on solving a particular, some customers are complaining or patients are complaining, oh, let's fix that problem. Exactly. And now you've got a bunch of people waiting to get in. Right, oh, that happens all the time. Nobody can handle it at the back end. Very, very common situation, I'm sure, in any kind of systems design. What other mistakes do people make that you advise that they be careful to avoid? Well, I think in particularly for this audience is starting with the IT data system as a solution before they really understand the problem and going in and just think, okay, we're going to put in this brand new system and they might actually need the system but we know from studying ERP failures, et cetera, that a big problem is that they didn't go in and look at the other dimensions, the processes, the organization, the policies and how those things work. So a big mistake is just fixing one piece or thinking the IT or technology is going to be the answer. So there was a number back in maybe 10, 15 years ago that some large proportion of information technology projects failed to meet their objective. I forget what the number was, it was north of 40% of what we call. It's a large number, right. And so, I don't know where that number came from, I don't know if you've ever studied it but I presume the reasons are the ones that you're suggesting. They're absolutely and this is really what got me motivated to be doing work in this area because I found people were going in and doing solutions and they were doing kind of a shotgun approach to these solutions as opposed to stepping back and then taking a little more holistic view of, okay, where are we going, what's going on and how do we align all these different pieces, not just the putting in the new technology or new IT or new data but how do we align the organization, the process, the knowledge to do a better job at providing products and services. So my question is, has that gotten worse or better? With the M&A craze, potentially that kind of stresses that dynamic. Well, it certainly does and actually if you look at the same issues there too, if you look at why have mergers and acquisitions failed, it's not because they didn't have good products or good things and they didn't have good reasons to merge. It was all about how do you put these all together? How do you merge the cultures of these different organizations? How do you merge the processes and the technologies as well as the IT systems and everything else? So the approach that you outlined, and correct me if I'm wrong, but would it be fair to characterize that as a top-down approach where you're taking the key stakeholders or the CIO, the CMO, bringing them into a room and getting them to see kind of from the other people's perspective? But then there's clearly a big change management component. You've got to keep things running while you're making changes and you've got to get more of the rank and file to adopt these changes. How do you go about actually implementing some of these things along that line? So a plan and all this great stuff without implementing is just on the shelf. And unfortunately, we've seen a lot of that happen. So a very key part of this and a key part of the process that we have put together for this includes the transformation implementation plan. And so it starts with, yes, getting the senior people on board, bringing other people in those. So you're getting the pulse of what's going on with your employees, your suppliers, your partners, your customers. But then as you go to roll this out, there's a whole major aspect of this. How do we create this? And now that we have this shared vision, how do we share this now with all of our employees through whether it's town hall meetings or now electronically, there's all kinds of newsletters and blogs, et cetera. And that you're out there doing this on a very active basis. And this takes much more time than the actual creation of the plan. And it's getting them engaged and involved in doing that. And that's absolutely critical. I've worked in industry for a long time before coming to MIT. And I saw a bottom up or middle approach and that doesn't work at all. Only top down does not work either. But doing the top kind of down first, as far as a strategy, as far as where are we going and creating that. And then bringing the people along with you. Ideally, as you're going through the planning process and you're bringing people in to share that with them. All right, we have to leave it there. Professor Nightingale, thanks so much for coming on theCUBE. I really appreciate it. All right, keep it right there, everybody. We'll be right back with our next guest. This is theCUBE. We're live from MIT in Cambridge. We'll be right back.