Podcasts about frms

We've already had more inflation in this young 2020s decade than the entire 2010s. If the next forty years have as much inflation as the last forty, gas will cost $13.38 per gallon, the average home $1.88 million, and the average rent $59,000 annually.  Inflation impoverishes most people. You can profit from it 3 ways at the same time. Watch the free 3-part video series: GetRichEducation.com/TripleCrown.  The 30-year fixed rate mortgage is a uniquely American construct. It virtually exists nowhere else in the world. I compare this to mortgage terms in Europe, Canada and Australia.  In much of the world, homeowners have had their mortgage payments double overnight! Trends that won't soon be disrupted: more inflation, people need to live somewhere, there aren't enough places to live. That's so simple! Invest in it. Rents are increasing the most where little new supply has been added. There's a myth that gigantic institutional investors are gobbling up all the single-family rental homes. But they only own 3% of the market. Mom & pops own 80%. Single-family rents are up 3.4% per CoreLogic. Detached SFHs are up more than attached types. Property prices and rents are positively correlated. Some people falsely think that they move inversely. Resources mentioned: Profit from inflation 3 ways: GetRichEducation.com/TripleCrown For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Welcome to GRE! I'm your host, Keith Weinhold. Learn how the misery of INFLATION is altering BOTH your quality of life and the return on ALL of your investments… … also, many people are now having their mortgage payments DOUBLE overnight and IT'S creating pain, then, what are the factors affecting the future direction of RENTS - all that, and more, today on Get Rich Education!  ______________   Welcome to GRE! You're listening to one of the longest-running and most listened-to shows on real estate investing. This is Get Rich Education. I'm your host, Keith Weinhold - the voice of RE since 2014.   I don't know if you fully realize how much inflation is steering all of your investments - and it's emphatic at a time like this when the dollar is down 25% cumulatively just in the last four years. Gosh!   And I've got some jaw-dropping inflation fact to share with you soon.    We'll get to inflation's RE affects shortly. But here's what I mean.    In stocks, they keep riding up on a wave of optimism, anticipating a Fed interest rate cut - largely due to future INFLATION expectations. Yes, there's jobs & GDP and some other factors.   But the stock market - which is a FORWARD-looking market - it moves based on what's expected to happen 6 to 12 months from now.    STOCK investors know that rate cuts open the floodgates to get us closer to the “easy money” days again.    That's why - as backwards as it is, the worse the economy looks, the lower that inflation tends to be, and then, in turn, the lower that interest rates can go, which the stock market likes.   So a worsening economy often pumps up the stock market. Soooo backwards.    Just look at what happens historically. Recessions sound bad. Yet what happens is that rates get cut in a recession - because the economy needs the help.    But nearer-term, it's this ongoing expectation of the rate cut - that's been looming out there for months but hasn't happened - which CAN keep propelling the stock market to higher highs. It's already hit all-time highs here recently. You can make the CASE that stocks should keep floating higher from here… based on that premise.   Before we look at real estate & inflation. Understand this.    Inflation has already widened the divide between the affluent and the deprived. That divide has gone from a gully to a canyon.   But... my gosh! Here's the stat that I want to share with you. And you're really going to get a sense for the gravity of what you're living through this decade.   We've already seen more inflation in the first 51 months of the 2020s decade than in the ENTIRE decade of the 2010s. Already.   This gets really interesting. Let's look at about the last four decades here.    Alright, in the 1990s decade, America had 34% cumulative inflation. Let's go ahead and… we'll associate this decade with President Bill Clinton.    We won't tie any President to the inflation number because there are lag effects and other factors. A President really can't take the credit or blame, in most cases. Just marking the era here.   So, 34% inflation in the 1990s.    The 2000s decade saw the GFC and… 29% inflation. Most of those were George W. Bush years.   The 2010s decade saw lower inflation → Just 19%. So that's under 2% a year. These were mostly the Obama years here in the 2010s.    Little flex there from the former Commander in Chief.   Then the 2020s decade → have seen, like I alluded to, and under Joseph Robinette Biden, Jr. - yes, as the oldest sitting president ever, it's easy to forget that he's a “junior. In this young 2020s decade, we have, 21% cumulative inflation. Already.   So this figure is after just the first 51 months of this decade, if we're counting from 2020… and this is largely due to supply shortages from the COVID pandemic.    So 21% ALREADY this decade… and just 19% ALLLL of last decade which was a full decade. That's the impact.    That's reflective of what you see in home prices and rent prices and utilities, transportation, labor, and almost every facet of your life.… and what you see in your weekly Costco bill and Trader Joe's bill.    Who have we left out here? A one-term president, so far? Does somebody feel left out.    Yes, that is the actual person of one Donald John Trump.   Psssshhh!   All of those figures I cited are from the BLS, and I've been rounding to nearest whole percent.   But get this! Inflation over the next forty years could make the LAST 40 years seem like a picnic.    That's partly because we're $35T in debt and that figure now grows by $1T every single quarter… every 90 to 100 days. So we MUST keep dollar-printing to help pay it back.   But just, if the last forty years repeats itself, by the year 2064, which is the next forty years, we'll see these prices. Prepare for a future that looks like this: Gas at $13.38 per gallon The home price at $1.88 million Average rent at $59,000 per year And the average salary at $104,000 That is if inflation over the next 40 years, looks like that last 40 years. Also, note how salaries don't keep pace with prices. That $104K average salary in the year 2064 doesn't sound as high-flying as those other figures.   Well, this is all really frustrating for consumers… and even debilitating to one's standard of living. Remember, this latest wave of inflation brought us the biggest YOY increase in homelessness - based on HUD figures.   and why you need to invest in something that reliably BENEFITS from inflation and pays you an income at the same time.    Look, here's really, the deal. Dollars are abundant. So then isn't it a paradox that a major spike in the supply of dollars would create more homelessness?   Well, you know that dollars are there for your taking - because so many more have been brought into existence. Dollars are abundant. So as they cycle through the economy, rather than going through the consumer motions, you can build your diverter. That's where the world of abundance exists, so get into that flow.   Ultimately, REAL capital is scarce. Your time and energy are scarce. Natural resources are scarce. Labor is scarce.   What's frustrating is that money ought to reflect that scarcity if it is going to accurately convey the value that enables people to make capital accumulation decisions.    And alas, we're doing our measuring in dollars and the dollar is not remotely scarce.   The middle class and poor often have wages that don't track inflation, yet they disproportionately suffer the higher consumer prices.   The investor class owns assets that float up with inflation. And GRE listeners will do even better than that.   As income property owners with mortgages, we're winning three ways at the same time with the Inflation Triple Crown. That's your dollar diverter.   Alright, so that's longer-term inflation. I've been talking in terms of decades - both the past and with an extrapolation into the future to 2064 there - and it's really rather sobering.   Well, what's the more CURRENT inflation situation? The situationship? Ha! What's the situationship now?   In trying to quiet it down to their 2% target, the Fed has run into so many hurdles that you'd think they were training for this summer's Olympics in Paris.   After it peaked over 9% two full years ago now, inflation's been bouncing near 3-and-a-half-percent for a year and they just keep having trouble getting it lower than that.   Hmmm... would we say that this could turn into Jerome Powell's three-quarters life crisis? We'll see.   Rising inflation is one of the key factors that brought down the Roman Empire. They famously experienced hyperinflation after a series of emperors lowered the silver content of their currency, called the denarius.    Today, some lament that the dollar isn't backed by gold, silver, or anything else.   But it is.   It's backed by the world's most powerful military, strongest economy, reserve currency status, international trade agreements, and you also… must pay your taxes in dollars.    Dollars are still liquid and useful… but perpetually debased, so get them and then transition out of them.    Yet, at the same time, we're also the greatest debtor nation in world history. The easiest way to pay it all back is to simply print more and inflate more.   So that's why it's almost inevitable that dollars will keep being worth less... and BTW, the two words “worth less” sound awfully close to the word “worthless”. Ha!    That's where we keep heading.   Until you can send a Venmo request to the Fed to compensate you for your loss in purchasing power, we need to actually do something about this.    And the dollar that you had when you started listening to me today could very well now only be worth 99 cents. Ha!   We can either have our standard of living degraded by inflation or we will decide to profit from it.   So, if you haven't yet, check out GetRichEducation.com/TripleCrown.   Rather than impoverish you, learn how you can make inflation CREATE wealth for you three ways at the same time with that free, 3-part Inflation Triple Crown video series. Good learning there.   It's free & easy to watch, again, at GetRichEducation.com/TripleCrown   Inflation seemingly seeps into everything.   Inflation took down the commercial sector - Apt buildings & offices. Apts are down 30-40% in the last two years. It's all because inflation made the Fed panic and jack up those rates.   If that's not jaw-dropping enough. Office values are down 80%+ in the last two years. 80%+, 90%+ in some cases.    Of course, office RE got the double-whammy of the inflation-induced interest rate hikes AND the Work-From-Anywhere movement.   That leaves residential 1-4 unit properties in good standing - and still impacted by inflation, but LESS impacted by inflation.    Yeah, your 1-4 unit RENTS are up - and I'll talk more about rent later in the show today.    inflation also jacked up your expenses like insurance, utilities, maintenance & repair cost and more.   But as we move away from the inflation conversation now, of course, one big reason that 1-4s have stayed resilient is the American privilege of LTFIRD - and the fact that it's 30 years for most US properties.   In fact, in 2022, 89% of homebuyers applied for the 30-year.   I think that you're about to get more appreciation for this… perhaps than you've ever had.   The 30-year FRM is a UNIQUELY American construct.    And, BTW, some people don't seem to know what the word “unique” means. You've probably heard people misusing this word all the time.   Unique does not mean something that's sort of different.    Unique means “ONE of a kind”. Unique means something that does not exist ANYWHERE else.    What do I do here on this show? Besides giving you the occasional geography lesson as a side dish to your real estate, I do this with vocabulary, grammar, and syntax as well, don't I?    Even though my own is surely imperfect.   Anyway, the reason that the 30-year mortgage can exist is due to our deep financial markets - especially our secondary market for mortgage-backed securities, where your loan gets packaged up and purchased by a bond investor - a bit like Ridge Lending Group President Caeli Ridge & I touched on last week.   The reason that mortgage-backed securities are attractive to investors in the U.S. and across the globe is because their government sponsorship makes them safe investments over long periods of time. They also provide a fixed payout to the MBS holder.   And see, the rate on the 30-year fixed-rate mortgage tracks closely to 10-year Treasurys because “U.S. real estate is almost as good an investment as a U.S. Treasury bond.”   They've got Fannie & Freddie insurance.   And that entire MBS process now has more guardrails in it than we had before the Global Financial Crisis.   We're talking about the foundation here - really - of where you get your big lumps of money from - the 30-year FRM and its uniqueness.   Compared to the world, the US has very little variable rate debt.    Less than 4% of American mortgage borrowers have debt that's on rate terms of a year or less. Over 96% of US debt is LTFRD, defined as 10 years or more.   That is virtually unparalleled worldwide. To compare us to some other developed nations, mortgage borrowers in Germany - just 47% of them have long-term fixed debt - and none of them can get 30-year debt.   Long-term debt, again, defined as ten years or more,  Is little to ZILCH for mortgage borrowers in Canada, the UK, Ireland, Italy, Sweden, Finland, Australia, and other developed nations like them.   In Canada, the most common mortgage terms reset to the prevailing market interest rate every five years.    In Finland, their mortgages reset annually or faster. Gosh, can you imagine if your mortgage rate reset every year like it does for the Finns?   Sheesh, that's more often than some people lose the remote control or rearrange their furniture.   OK. So what's this really mean?   Ya gotta… pour one out for most mortgage borrowers in the rest of the world.   They can't lock in their mortgage interest rate for the long-term. So with rates doubling or tripling, starting from 3 years ago, it's totally ruined a lot of foreign homeowners.   Look, what if you're middle class and your monthly mortgage payment soars from $1,893 on Tuesday up to $3,415 on Wednesday?   That's what's happening elsewhere. It can go up 50% overnight and nearly double overnight in Australia, Europe and elsewhere.   But in the mortgage-advantaged US, we're safe.   If we buy at an 8% mortgage rate on a 30-year fixed amortizing loan today—just the plain, vanilla loan: If rates rise to 10% later, you're happy to be locked-in at 8% If rates fall to 6% later, you'll refinance Note that I refrain from saying "just refinance". I don't like the word "just". You'll still need hours to provide documentation and your credit score will be checked. But it's worth it.   You won't “just refinance”. Ha! You'll refinance.   So think of it this way then, you can alter your deal with the bank whenever you want—and usually with no prepayment penalty. Yet the bank can't alter it on you.   What did Darth Vader say to Lando Calrissian in the “Empire Strikes Back?”. I am altering the deal, pray that I don't alter it any further.    Ha! We better not play that clip here. I don't know the copyright laws with LucasFilm or Disney there. Ha!   But you're not a dark lord of the Sith for doing it… for altering the deal on the bank. You're playing within the rules.    This is almost an unfair advantage for Americans.   The bottom line here - with this unique American advantage, is that, as rates change, you get to play both sides of the game. And that's why we add smart properties with loans.    We turn that into wealth, with compound LEVERAGE.    Now, mere compound interest, that's a vehicle for you to rely on more for your shorter-term funds, your cash or what you're keeping more liquid.   Long-term wealth is build through compound LEVERAGE.   Short-term funds - that's for compound INTEREST.   And… your bank is getting rich off of YOU. The national average bank account pays less than 1% on your savings. If your money isn't making about 4-5% today, you're losing your hard-earned cash to inflation.  What I do, is keep my dollars in a private LIQUIDITY FUND. You can do this too. Your cash generates up to an 8% return with—COMPOUND INTEREST—year in and year out instead of earning less than 1% sitting in your bank account - or even 4-5% elsewhere. The minimum investment is just $25K. You keep getting paid until you decide you want your money back. This private LIQUIDITY FUND has a decade-plus track record - and they've always paid their investors 100% in full and on time. I would know… because, I'm an investor with them myself. See what it feels like to earn 8%. A lot of other GRE listeners are. To learn more, just text the word FAMILY to 66866 to learn more about Freedom Family Investments' LIQUIDITY FUND. Get 8% interest! Just do it right now, while you're thinking about it. Text FAMILY to 66866.   More straight ahead, including what's happening with rents. I'm Keith Weinhold. You're listening to Get Rich Education. _____________   Welcome back… you're listening to Episode 503 of Get Rich Education. I'm your host, Keith Weinhold.   We've got a poll result, from our Get Rich Education Instagram Page.    The poll question was simple. “When buying property, what's more important?”    The purchase price or the mortgage rate.   71% of you said the purchase price. 29% of you said the mortgage rate.    Of course, both are important, but I think that the PURCHASE PRICE is the best answer - because your purchase price stays fixed for the life of your ownership period, and you can CHANGE your fixed mortgage rate and make it malleable… whenever it suits your needs.   As we talk about where the OPPORTUNITY is today, though multifamily apartments are going to bottom out sometime and therefore, at some point, they'll make a wise investment - who REALLY knows - maybe the time for larger apartments is now…   … one opportunity is… giving good people OPTIONS during a housing affordability crisis.   And what's going on right now is that… let me put it this way… when people have a hard time affording their own home today, basically (ha!) people are having a hard time transitioning from resenting their landlord to bickering with an HOA.    Ha! That's kind of how the world works.   Seemingly everyone would rather be bickering with an HOA rather than resenting their landlord.    A lot of renters want to be buyers… they can't… and that isn't expected to change anytime soon… as prices will likely stay elevated… and mortgage rates are staying higher, longer too.   These things are ALMOST “knowns”. It's often wise… to invest in trends that are known. Nothing's completely predictable, but when you're looking for a place to park your investment dollars, a few other things… are known… right now.   And AI is not expected to change what I'm about to tell you… anytime soon.   VR - virtual reality is not about to change what I'm about to tell you anytime soon.   AR - augmented reality isn't either. Machine learning won't imminently disrupt this.   And that is, that… everyone expects more long-term inflation. At what rate, no one knows.   People will need to live somewhere… and there are not enough places to live.   Those three facts, right there, are so simple. I love simple. Ha! One reason I love simple things is that I can remember it.    So many investors - investors in all types of things, say, from tech EFTs to junior mining stocks to crypto - you can make money there.   But, at times, investors will unnecessarily go out on the risk curve and GUESS and speculate… at a future trend.    Some are right. They're often wrong, and adopting too much of that approach… that's exactly when your risk-adjusted return goes down throughout your investor life.   Instead, you can get great returns - real estate pays 5 ways-type of returns - in these trends that I just described that are near certainties.   Why guess? When instead, you can almost be certain.   Often times, the certain thing is right… there.    It's often easier, like I think I brought up on the show once before, inspired by Jeff Bezos - don't ask what will change in 10 years.    The more insightful question and profitable question that fewer people think to ask is actually - “What will be the SAME in ten years?”   Well, when we talk about rents and the fact that tenants WILL keep paying you to live somewhere ten years from now, the trend that's taking place here in the mid-20s decade - here in the mid 2020s, is that… Rents are increasing the most where there hasn't been enough new supply added - up 5-6% in parts of the Northeast including New York and Boston - Seattle too… and parts of the Midwest. Detroit and Honolulu rents are each up about 5%.   Rents are decreasing the least, and even declined - where they've added lots of new supply recently, like Austin, Texas and Miami, where they're down 3% or more in each. New Orleans is another major city that's down - at minus 1%.    But among the larger cities, Austin, Texas is the WORST performer in the nation right now.   If you're listening to this either this week or you're listening to this ten years from today, if you want to know future rent trends, look at where they're adding supply.   Especially in apartments. But all these new apartments will fill up and nationally, they're building fewer apartments this year than last year's apartment-building boom.   When we talk about rents and who owns SINGLE-FAMILY HOMES, there are a few myths that I want to help bust for you here.   There seems to be this misconception or misinformation that GIANT Wall Street firms are buying up all the SFRs. That's just not true.    Now, there is more participation from the big firms than there has been historically, but those that own 1 to 9 SFRs… which is our definition of mom & pop investors here… constitute 80% of the SFR market.   80% own one to nine units. Now, you might own more than 9.    In fact, 14% are in that next tier up, owning 10 to 99 SFRs. Then 3% - known as small national investors own between a hundred and a thousand.   And, what's left, the big institutional investors - those that own 1,000+ SFRs - and you've heard of some of these companies - Invitation Homes, and another is American Homes 4 Rent.    Progress Residential, Blackstone, First Key Homes  - all those big players own just 3% of the market.   So again, 80% are the small ones - the mom & pops… a highly fractured market.   There are a total of 82 million SFHs in the United States. Out of all of them, do you have any idea what percent are OOed and how many are rentals?   It's 83% OOed and 17% of the single-families are rentals. So about one-sixth of SFHs are rented out.   Now, here's the thing. Some people tend to think of mom and pop single-family rental operators as unsophisticated charity case workers who never raise rents.    That's part of the perception out there.    But that narrative has never really been true, and, in fact, the COO of American Homes 4 Rent - his name's Bryan Smith - recently brought up this key point on their recent earnings call.   He said that while historically mom and pops hadn't always priced directly to market because of a lack of market data, "they've migrated into a strategy that's closer to ours."   How is this and why is this? Anymore, why ARE mom & pops raising rents just about as aggressively as the big institutional players.    It's really increased transparency on the rents that landlords are asking… through internet listing sites like Zillow.    It's not that mom and pops didn't increase rents before. (I mean… just look at what happened with rising rents in the 1970s and 80s before institutions were in the sector.)    But when there's a lack of rent amount transparency, it takes longer for operators to discover and adjust to market pricing-- especially for smaller players in a deeply fragmented market.    That's the part that's changing.   But see, increased transparency works both ways. It's good for you and bad for you as a property investor.   This information helps tenants too. In upswing markets, operators may push rents faster than they would otherwise.    But in a downswing market, operators may cut or keep rents flat faster in order to lease the unit.    Because tenants can easily see what other LLs are charging and compare features. When you price too high, units sit vacant and generate no income.   Since renters benefit from increased transparency too, if they see two similar homes, they're usually picking the better deal.   And increased transparency is why NEW lease rent growth is cooling off.    In fact, CoreLogic just released their latest SF Rent Index report last week. It showed that, nationally rents are up 3.4%, which coincidentally, happens to be the same as the latest CPI inflation number.   Detached properties are seeing more rent growth than ATTACHED ones - like townhomes. If you think about it, that makes sense. Townhomes are in less demand now.   Because the homeownership dream, is when one moves out of the apartment & buys a detached house.    And since that's so unaffordable to buy here in the 2020s decade, that's why more people are willing to pay more for to rent the detached type.   Note that SFR rent growth has moderated since mortgage rates spiked-- further dispelling the sticky myth that rents boom when home sales fall.   Remember - when homes price growth is really hot - like it was in 2021 and 2022 - near 15% - rent growth tends to be hot too. It was ALSO near 15%.   And when home price growth is moderate, like it is now, well, rent price growth is moderate too.   Prices and rents move together. They're POSITIVELY correlated. Some people think they move inversely… and we're looking at history over hunches again - what REALLY happens here.   So though you're almost certainly going to get nominal rent growth over time, it's not a good thing for you to count on it in the short-term - it NEVER is, in any era.   The time for you to push rents is, of course, in any market, when you go for NEW leases. A new lease with a new tenant is going to be higher than a renewal lease.   It's the ol' - this has been a good tenant for three years, so I don't want to push the rent too hard & lose them.    To review what you've learned today, inflation is affecting ALL of your investments, 30-year FRMs are a UNIQUE American advantage…   …it's wise to invest in future trends that are KNOWN, if you want to know what is going to happen with rents in the near future, look where they've added supply.    Less new supply correlates with more rent growth… and large institutional investors own just 3% of SFRs.    If you enjoy the show, please, tell a friend about it.   Isaiah on LI had the most flattering comment. Over there, he wrote and called GRE “The best podcast on the planet.”    I… really don't think that I can take credit for that, though… I'd like to think we're a good resource for building your wealth through REI and regularly informing you, giving you ideas that you've never thought about before that add real value to your life.   You've heard of Bidenomics. The first portmanteau type that I ever heard about a President's economic policies is REAGANomics, though it was a little before my time.    Here on the show next week, with us, will be none other than “The Father of Reaganomics”.    Yes, late President RONALD REAGAN'S Budget Director will be here next week. Basically, he was Reagan's “Money Guy”.    His name is David Stockman and he often met with the President in the Oval Office, advising Reagan on economic affairs.   I have asked David Stockman, if besides talking about the condition of today's economy next week, he'll also discuss real estate - and he agreed to do so.    That's “The Father of Reaganomics”. You can look forward to he & I together next week here on the show.   You might be one of the listeners that's been here every single week since 2014 - just like I've been here for you.     A new podcast is published every Monday. If you want more our DQYD E-mail Letter is published and sent about weekly, that's typically been on Thursdays lately. Then, there are many new videos published each month over on our Get Rich Education YouTube Channel. Those are the main three places that you can find us.   Until next week, if you enjoy listening, I really appreciate if you would told a friend about the Get Rich Education Podcast.    Until then, I'm your host, KW. Don't Quit Your Daydream!

On this episode of Engage, Shawn Kellett and Frank Wedding from the Scheduling Committee return to meet with Engage Host First Officer Ryan Argenta discussing new contract changes for Scheduling, PWA Section 23, coming in June. Items include new reserve rules, 18-hour minimum callouts, and changes to be aware of with second-day manual trip coverage. The group also discusses the hot topic of how the Company is utilizing a loophole in 23 M.7 to bypass steps of coverage allowing them to skip green slip coverage altogether. Additionally, under this loophole provision, Shawn and Frank explain how there are hundreds of pilots abrogating seniority and asking the Company to circumvent the contract in which they are calling for pilots to "knock it off". They also explain an important FRMS issue affecting A350 pilots. And finally, the Engage crew say farewell and good luck to Frank Wedding as he prepares to move to the Negotiating Committee. (Recorded May 24, 2023) Resources: Scheduling Alert 23-06: Scheduling Implementation for June

In this session we will examine one of the common greatest human factors challenges within pre-hospital care, that of acute fatigue within clinical practice. The ambulance services are trying out different ways of working to help staff feel less tired at work and safer on scene, but these actions are often localised and have no empirical underpinning, and also we don't know whether they are making working environments safer. Kristy is investigating whether patient and staff outcomes can be improved through development and implementation of a fatigue risk management system (FRMS), as is done in other safety-critical industries like aviation and transport. The evidence suggests individual components of a FRMS which may be effective, Kristy is currently investigating the optimal packaging of these interventions. Kristy believes that FRMS adoption in the NHS needs local tailoring and understanding of barriers and facilitators. Kristy is looking at a way to integrate a comprehensive fatigue risk management system for the UK NHS ambulance sector that is acceptable, feasible, and likely to improve patient outcomes and staff wellbeing and experience. Within the episode we will examine: 1. Kristy's research approach to an agreed set of evidence-based and emerging components of a FRMS for the UK ambulance sector that are considered feasible and acceptable. 2. The wider CATNAPS study and its wide ranging primary and secondary outcomes. 2. The components of a comprehensive FRMS that are in use and why. 3. The ways in which front-line staff and patients experience current fatigue actions and potential to improve safety culture and reporting. 4. Development and usability testing of the FRMS and its implementation guide that allows tailoring to organisational and local context and is underpinned by a new theory of change and logic model. 5. The 12 hour day and and night shift, both pros and cons of this pattern of working. 6. Fatigue mitigation and how the FRMS may serve to support this. 7. Second and third order effects of fatigue. More on CATNAPS and Kristy's research can be found here: https://arc-eoe.nihr.ac.uk/research-implementation/research-themes/mental-health-over-life-course/catnaps-fighting-fatigue-nhs Please enjoy this episode with an engaging guest.

In this episode I chat with Madeline Sprajcer about her recent paper on "How effective are Fatigue Risk Management Systems (FRMS)?" In this episode, Madeline and I tackle the subject of FRMS in industry settings. We go through Madeline's background, education and other interests. Her interest in history and her new work investigating fatigue risk in new parents.   Reference: Sprajcer M, Thomas MJW, Sargent C, Crowther ME, Boivin DB, Wong IS, Smiley A, Dawson D. How effective are Fatigue Risk Management Systems (FRMS)? A review. Accid Anal Prev. 2022 Feb;165:106398. doi: 10.1016/j.aap.2021.106398. Epub 2021 Oct 28. PMID: 34756484; PMCID: PMC8806333. https://pubmed.ncbi.nlm.nih.gov/34756484/  Connect with Madeline on LinkedIn https://www.linkedin.com/in/madeline-sprajcer-61b45356/ Researchgate  https://www.researchgate.net/profile/Madeline-Sprajcer Google Scholar  https://scholar.google.com/citations?user=iBTbP9UAAAAJ&hl=en Twitter @msprajcer Contact me at iandunican@sleep4performance.com.au or www.sleep4performance.com.au    

Chris Lencheski, also better known as “SKI” in the industry is a true serial sports Entrepreneur from his early days around the Atlanta Olympics to his very successful years across global motorsports.  SKI & Company left its mark on the industry on many levels and Chris till today continues to shape the industry.  Great insights and learning from his own businesses to the various groups he worked with over the decades (Comcast Spectacor, TPG Speciality Lending, MyyTake India), including an interesting opinion on what happened to MP & Silva.  Listen and learn.       Key Highlights Starting at The Easton Events Company (spun out from United Media) – involved in the Atlanta Olympic Games and developing the protection of the marks, oversight of licensing rights, building activation plans, a great way to learn the ropes Delos Associates – first Entrepreneurial venture exclusive event marketing and management company for 1996 US Olympic Team Trials for Cycling; developed Official Corporate Marketing Partners Program first look at motorsports Next stop,  CMDC (Chesapeake Motorsports Development Corporation), oversaw advertising, marketing, sponsorship, licensing, real estate, development, co-partnership, sanction, and television deals  involved in big Pepsi deal for new Venue (NASCAR track) MFP Agency (Marketing for Fun & Profits) – first time CEO working for someone else (Legendary Rod Campbell)  Rod Campbell, founder of Campbell & Company (exclusive agent of Ford Motor Company's racing efforts globally) MFP, was separate entity involved in other motorsports ventures Indycar, F1 (lots of new learning experiences from Rod Campbell) Next up, TSI Agency for a few years Strategized commercial aspects as COO for organization that fielded teams in NASCAR Busch Series and Winston Cup competitions for Christian Fittipaldi and Kenny Wallace Created the "The Cadillac Grand Prix" with George Debidart and the late Don Panoz (founder of ALMS), the first racing event in Washington, DC – comparing with the KL City Grand Prix in Malaysia where TSA was involved  SKI & Company – back being an Entrepreneur General Motors (GM) had a problem and Chris had the answer – great story on how the company got started by helping to fix a problem for the largest automobile company in the world GM's mishap in Golf – bidding against itself for a major sponsorship How a white paper turned into the assignment as “Global Agency of record for GM Racing”, developing strategies country by country, brand by brand (from Vauxhall, Opel, Holden, to Chevy - fingers in any and all with blessing from GM) GM's large interests in motorsports around the world, including NASCAR, F1, Le Mans, etc Growth comes at a cost – selling the business to principals of former CSS Stellar Phoenicia Sports & Entertainment (live after SKI&Company) – transferring the learning and philosophy Involved across Motorsports and Football/Soccer (Bologna) Next stop, President of Front Row Marketing & Analytics (a Comcast Spectacor company) Operated the stadia, sports media commercial rights and entertainment agency inside the greater Comcast ecosystem Being part of a huge group and the pros and cons of it - picked up big clients Americas Cup, EPL Teams, French Football Championship Trophee Game (NYC), etc. IRG Sports & Entertainment – A TPG Specialty Lending Group company ,  involved in change management From Drag Racing to race tracks around the world & bringing ESPN back and growing Australia business rapidly. MP & Silva – Senior Advisor to the Board – Chris' observation as an Advisor to what happened?   Everbright Securities & Beijing Baofong investment (at the time of China's big push into Football/Sports globally) Lots of senior leadership was let go and/or advice was being ignored by the Chinese leadership which had different ideas Story not finished yet Current role at Winning Streak Sports (a Granite Bridge Partners company – linked to Wafra - Sovereign Fund of Kuwait) Number One premium licensing company in the world. From Board Member to CEO at request of Board From Live streaming, social commerce, media support to premium licensing for major sports franchises globally Last thoughts, success is not easy, never linear and not a ladder (more like a spray paint can) & when juggling businesses, especially going through Change Management, the rubber balls are the businesses, clients, etc.,(these balls will bounce) but don't drop the glass balls (which are the people you work with and the most important part of any pivot - especially in commercial rights)   About Chris Lencheski Chairman, Phoenicia Sport and Entertainment January 2009-present  Chief Executive Officer, Winning Streak Sports March 2019-present  Board of Directors, MyyTake (India) March 2021-present  Board of Directors, Electronic Gaming Federation January 2019-present  Chris Lencheski has worked in the global sports and entertainment sector for more than two decades.  As founder and chairman of Phoenicia Sport and Entertainment, a sports and media consultancy firm he launched in 2009, he advised purchasers of Italian top-tier (Serie A) football teams, developed and executed commercial rights programming for Newman/Haas Racing, the IndyCar racing team of Paul Newman and Carl Haas, developed sports television programming for the Sportsman Channel, and has represented a host of traditional sponsorship/media clients, including managing the U.S. sports marketing debut of Chinese solar company, Trina Solar (SHA:688599). From 2009-2010, through Phoenicia, Mr. Lencheski was owner of International Hockey League franchise the Quad City Mallards, an affiliate of the NHL's Philadelphia Flyers. The team was IHL Franchise of the Year during Mr. Lencheski's tenure.  In March 2019, while a director of Winning Streak Sports, a portfolio company of Granite Bridge Partners, Mr. Lencheski was asked to assume the role of chief executive officer, where he currently oversees all business affairs of both Winning Streak Sports and affiliate Prinstant Replays, which, together deliver the number #1 premium licensed goods and collectibles product line in professional sports by both sales and quality.  Prior to Winning Streak, from 2015 to 2019, Mr. Lencheski was the Senior Advisor to the chairman and board of managers of, MP & Silva, the Italy-based global sports media company. From 2015 to 2017, Mr. Lencheski also served as co-chairman, chief executive officer and a director of IRG Sports + Entertainment, a TPG portfolio company and leading promoter of sports and live entertainment experiences. IRGSE is the parent company of the International Hot Rod Association and the International Drag Bike League and owns and operates Palm Beach International Raceway, Palm Beach Driving Club, Memphis International Raceway, Cordova International Raceway, and Maryland International Raceway. IRGSE promoted more than 1,150 global motorsports, live entertainment, and corporate events annually at its venues and within its series.  From 2011 to 2014, Mr. Lencheski was president of Comcast-Spectacor's (now Spectra) wholly owned subsidiary Front Row Marketing and Analytics (“FRMS”), which managed commercial rights, sponsorship, and analytics for the entirety of the Comcast ecosystem of stadiums, arenas, teams, and Comcast properties. FRMS was acquired by Learfield Sports in 2015. While at FRMS, his work included collaborations with the Americas' Cup, English Premier League Football, the Olympics, Formula One Racing, and FIFA World Cup projects, as well as a host of international and national properties, including every major sports league in the United States and international sport governing bodies.  In 2002, Mr. Lencheski founded SKI & Company. With offices in New York, London, Dubai, Charlotte, NC, and Bethelem, PA, SKI was the first global agency for General Motors Racing and the recipient of BrandWeek Magazine's Gold Award in the National Sales Promotion Campaign category for Mr. Lencheski's work on behalf of client Turner Broadcasting and developing their program with Target Corporation. At SKI, Mr. Lencheski authored industry-setting standards and practice guidelines followed by major entities from network and cable television providers to Fortune 500 companies. From 2005-2008, SKI was majority owner and operational manager of its NASCAR Cup and Xfinity Series racing Teams. In 2009, Mr. Lencheski sold SKI to a UK-based company, the terms of which cannot be disclosed.  Mr. Lencheski has extensive experience and connectivity in motorsports. He held operational and ownership positions in teams competing in NASCAR. Through SKI & Company, from 2005-2008, Mr. Lencheski was the majority owner and chief executive officer of his NASCAR Cup Series and NASCAR Xfinity team. Through his role as minority owner and chief operating officer of The Source International, a sports and entertainment agency, and their racing team, Innovative Motorsports, for the 2001 and 2002 seasons, Mr. Lencheski was responsible for fielding a NASCAR Busch/Winston/Xfinity Series teams. During his time in NASCAR, Mr. Lencheski developed many sponsorship relationships with global brands including General Motors, Goulds Pumps/ITT, Stacker 2, Mike's Hard Lemonade, NOS Energy Drink, Pure Fishing, and Smith & Wesson. Operating on limited budgets, Mr. Lencheski's teams competed both full and part time, amassing one race win, five pole positions, 23 top-five finishes, and 58 top ten finishes with two top-ten year-end point standing finishes in 2001 and 2002.  From 1999 to 2001, Mr. Lencheski was chief executive officer of the MFP Agency, an automotive-focused sports marketing agency founded by automotive marketing legend Rod Campbell of Campbell & Company. From 1997-1999, he was the executive vice-president and coo of Chesapeake Motorsports Development Corporation. From 1995 to 1997, he made his first run at launching his own sports marketing firm, Delos Associates Corporation, selling the portfolio to Joe Mattioli (whose family are the longtime owners of NASCAR Cup Series Pocono Raceway). Mr. Lencheski began his career as a vice president of event marketing, Olympics marketing, and director of sponsorship at The Easton Events Company, the official event management company of the 1996 Atlanta Olympic Games.  Mr. Lencheski has been an adjunct professor at the Columbia University School of Professional Studies' Sports Management Master's Degree program since 2015. He is a member of the board of directors of Winning Streak Sports, MyyTake India, Electronic Gaming Federation and a Founding Member of the Board of Advisors for Syracuse University's Falk College. Mr. Lencheski is a graduate of Syracuse University and an alumnus of Harvard Business School, having completed the Advanced Management Program. He is married with four daughters.    Follow us on our social sites for the latest updates Instagram: https://www.instagram.com/sportsentrepreneurs/ Facebook: https://www.facebook.com/marcusluerpodcast LinkedIn: https://www.linkedin.com/company/sports-entrepreneurs Website: https://marcusluer.com Podcast: https://marcusluer.com/podcast To get in touch, please email us at podcast@marcusluer.com   Feel Good by MusicbyAden https://soundcloud.com/musicbyaden Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0 Free Download / Stream: https://bit.ly/_feel-good Music promoted by Audio Library https://youtu.be/bvgIqqRStcQ

Tom and Dave talk to Clive Miles of CLM and John Powell of FRMS about their experiences and the developments within the fire safety sector.

  Powered by iReportSource   Fatigue and its safety implications is an important topic that likely impacts every single industry. According to the National Safety Council, when people don’t get the sleep they need, they aren’t able to physically or mentally function at optimal levels - routine tasks feel more demanding. Reaction times slow. People become more forgetful, make poor decisions, and don’t communicate or coordinate well with their co-workers.   Many studies have found a connection between fatigue and increased safety risks on the job in a wide range of work settings. Long work hours, working at night, and rotating shifts are some factors that can lead to increased risks of errors, incidents, accidents, and injuries. Decreased productivity Absenteeism represents a significant cost to organizations, and sleep loss is one of its leading causes. Presenteeism, being at work but not working effectively, also leads to substantial reductions in productivity. With reduced physical and mental functioning due to lost sleep, productivity goes down. Increased risk of errors People with sleep deficits are not as productive as they could be, and they are also more prone to making mistakes and errors. An estimated 274,000 insomnia-related workplace accidents and errors occur yearly and cost U.S. employers more than $31 billion, which is more than any other chronic health-related condition. Incidents and crashes A 2014 study estimated that up to 21% of all fatal vehicle crashes might involve a drowsy driver. Factors that contribute to such events include working multiple jobs, working nights or other unusual schedules, getting less sleep than needed, and getting poor-quality sleep. Long commutes add to longer waking days and cut into the time available for sleep, putting many workers at increased risk for driving while drowsy. ProTip: According to the NTSB: 20% of accidents are related to fatigue, with 40% of highway crashes involving fatigued drivers. Share this information as much as possible. Fatigue culture is difficult to overcome A workplace culture that rewards or tolerates fatigue can also be a factor. In some high-performance cultures, employees may view fatigue as a sign of weakness or laziness. They may be committed to getting the work done despite long hours, even coming to believe fatigue doesn’t affect them. Employers may incentivize long hours with financial incentives or promotions, increasing risk, and promoting a culture of burnout instead of managing fatigue as a potential safety hazard. Fatigue management as part of safety management systems We address workplace fatigue through the same types of safety management mechanisms that an organization uses to for overall safety. Such an approach ideally applies multiple elements, recognizing that fatigue is a complex issue that can be minimized but not eliminated. Getting started with a fatigue risk management system Fatigue management is a way to further enhance the current safety management system and can rely on many existing mechanisms. As a first step, organizations should make an effort to understand what fatigue risks exist. Incremental components or comprehensive plan While a comprehensive fatigue management program may be the best approach, especially for larger organizations, test individual elements at first. A first part, perhaps smaller in scope, can be implemented and evaluated. Lessons learned can then be applied as the component is expanded upon and when considering other activities. Form a fatigue committee Designating an individual, or individuals, to head up fatigue management activities is critical for success. For larger organizations, a small committee can oversee activities, gather and evaluate feedback, and determine areas to focus efforts. Having representatives from across the organization such as safety, operations, and health/wellness will ensure that you include different perspectives. Getting buy-in It is essential that the fatigue management process be transparent and that appropriate information is shared throughout the effort to obtain buy-in from all levels of the organization. Providing open forums that allow employees to share how fatigue affects them is one way to get engagement from the outset. Identifying fatigue risks In addition to employee input, an audit or survey of supervisors and managers can help determine where fatigue risks exist and provide an indication of the magnitude. Such information can help prioritize what countermeasures or mitigation actions to take and where to focus efforts. For the initial activities, it is imperative to present some action in the near term, so contributors will feel their input was and is incorporated. As a result, they are more likely to be engaged in the ongoing process and actions. Critical components of a fatigue risk management system (FRMS) Education and training Sleep health education is a vital element of any fatigue management effort. Different delivery mechanisms can be considered and may be used over time as the program matures as a way to help keep information fresh. Depending on available resources, external expertise can be beneficial. In a public safety setting, expert-led sleep health training resulted in knowledge acquisition and subsequent actions to address sleep issues. Consider sleep health education as part of annual, recurrent, or new-hire training. While individuals are generally unreliable at recognizing the effects of fatigue in themselves, developing a "personal signs and symptoms" checklist can provide a structured mechanism for self-assessment. People should include ways in which fatigue affects them, such as yawning or being forgetful and then track the number of hours of sleep in the past 24 hours, hours awake, and time of day. If multiple fatigue factors are present, then the individual should seek out countermeasures to boost alertness. Policies and practices Clarify roles and expectations - A recognized internal point of contact with responsibility for fatigue management efforts is a necessary first step towards practical implementation. This individual should be responsible for managing communications about the program and coordinating all program activities. This “fatigue champion” recognizes both the benefit to the organization and employees’ lives. The champion can provide an extra level of motivation and inspiration that can lead to an exceptional fatigue management program. Policies and practices for work periods - Effective policies and practices for hours of work and rest should be science-based and recognize the physiological need for sleep and circadian rhythms. They should also take into consideration the type of work that needs to be done and understand the characteristics of the workforce. There is no “one size fits all” number for daily or weekly work hours. Daily and weekly limits - Daily fatigue risks increase with more hours on duty, or with more time on task (hours of work without a break). Daily work limits should also address the impact of hours awake, and how factors such as commute times and shift start times will affect the time workers are awake before the start of their work period. Sleep loss throughout a workweek impairs performance. Setting weekly limits on total work hours and including a provision for a weekly off-duty “reset” period are common ways that organizations seek to manage the cumulative effects of sleep loss over time. The intent of the “reset” day or days off is to allow workers to obtain recovery sleep and be rested and ready for their next period of workdays. Time-of-day fatigue (circadian rhythm misalignment) - Working at night and corresponding daytime sleep are both misaligned with the normal circadian rhythms. Fatigue risks increase during night shifts, and sleeping during the day is less than optimal due to the circadian clock. For those working a night shift, consider minimizing monotonous or monitoring tasks that can unmask underlying sleepiness, and safety-sensitive duties should be scheduled earlier in the work shift when possible. ProTip: Early morning shifts require employees to adjust their sleep schedules, which might lead to chronic sleep loss. They also need employees to be alert when their bodies are still in sleep mode. Discuss this with your employees to raise awareness. Limits on night shifts - With increased fatigue risks associated with working at night, employers should consider implementing shorter night shifts, which provides a way to minimize the interaction of risks related to hours awake and the increased likelihood of fatigue during the low point in circadian rhythms. Fatigue risks have also been found to increase over consecutive night shifts, so minimizing multiple nights in a row and providing regular breaks should be considered. Limits on early morning shifts - Early-morning shift starts can also infringe on individuals’ regular sleep periods. With long commutes, wake times necessary for early shift starts may feel more like the middle of the night than morning. Difficulty in getting to bed earlier than our circadian clock’s programming is a challenge in getting adequate sleep. Limits on work hours - While flexibility is necessary in many situations, additional restrictions should be considered for those working irregular schedules, for example limiting the number of on-call periods per week. Shift workers are vulnerable to fatigue because of non-traditional work schedules that might require long shifts, non-daytime working hours, and changing shifts. As a result, shift workers are at a higher risk of drowsy driving. One shift-working population that is at a particular risk is medical workers, who can log more than 100 hours in a workweek with very little sleep. After an extended shift, medical interns were five times more likely to have a near-miss incident on their commute home, and twice as likely to have a motor vehicle crash. Shared Responsibility  Fit for Duty - An employee arriving fit for duty is the responsibility of both the employer and the employee. Employers should ensure employees have at least 12 hours off between shifts to get proper sleep. Employees are responsible for allocating their off-the-job hours wisely, especially if they are working a second job. Fatigue Mitigation A workplace with positive environmental controls promotes better overall working conditions and should be less physically stressful in ways that contribute to fatigue on the job. Factors such as high temperatures, noise, and vibration are leading drivers of occupational fatigue. Environmental factors can play a role in employees’ accumulation of fatigue. Things that help promote alertness include:  Moderate temperature Bright lighting Clean air Quiet environment Also, designated break areas that are separate from the work areas can be an essential tool in managing fatigue.  Break time in well-lit, moderate temperatures with adequate ventilation (fresh air) can provide an opportunity to reset for those working in physically stressful settings. ProTip: Caffeine can provide a short-term boost to alertness when appropriately used. Rather than relying on caffeine throughout a shift, it is best to use it just before a critical work task or before the mid-afternoon period when sleepiness occurs. A cup of regular coffee with 100–200 mg of caffeine can boost alertness up to four hours, with about 15–30 minutes needed to take effect. Be cautious with sugar in coffee or caffeinated beverages, as it can reduce alertness when coming down from the “sugar high.” Data-driven programs and continuous improvement A fatigue management program provides the most value when it is data-driven and strives for constant improvement. Ask employees for their input - Employees can be a wealth of information. You need to ask and listen. What mitigation strategies work best? Employees may have valuable feedback on environmental conditions and the usability of a break room, for example. What adds to your fatigue? Annual surveys of employees on their experiences and perspectives on fatigue-related matters are a great way to get a better understanding. Low reporting levels? Maybe something isn’t working. Don’t assume that low reporting levels mean there are no issues. Are reporting and monitoring systems effective? Usable? Are employees discouraged from reporting by the use of layered paperwork processes? Monitoring and reporting mechanisms allow the program champion and other safety managers to assess the levels of fatigue risk in the organization over time, identify trends, and understand the issues that are being reported and need addressing. Incorporate reporting processes into current procedures within an existing safety management system. Keep in mind that when implementing a program, low levels of reporting may indicate a lack of awareness of the program rather than a lack of fatigue-related issues in the workplace. Incident and accident investigation reporting Established incident and accident investigation processes should be expanded to include an evaluation of the potential role of fatigue. Generally, a combination of factors present at the time of an incident/ accident would indicate that fatigue played a role. Include the following: Time on shift: More hours may increase the likelihood of fatigue Time awake at the time of event: When hours awake exceed 17, fatigue becomes more likely. Length of the workweek: More consecutive days/nights of work also leads to increased fatigue. Self-reported info on alertness: Use standard measures such as sleepiness scales to measure this. Self-reported info on sleep history: Investigations should gather info on prior sleep history to assess the influence of the previous factors. Review and learn from data Incident and accident reports can be a valuable tool for the fatigue program manager. Look for trends in the types and sources of reported fatigue factors. Investigations can provide valuable “lessons learned” to incorporate into ongoing education and training activities. Continuous improvement: collecting data and applying lessons learned As with any organizational safety-related effort, it is essential to seek ways to continue improving operations. Monitoring and reporting information, along with incident or accident investigation and reporting, provides valuable information to the program manager. What is working? What isn’t? What can we do better? Employers should consider a regular internal audit, or use of an external evaluator to address the above questions and determine ways for further improvements and expand the program.  Fatigue Management Tools Scheduling software - Some industries, such as aviation, use programs that evaluate work schedules for potential fatigue risks as part of their fatigue management efforts. Such programs use science-based algorithms related to factors such as sleep need, circadian disruption, hours awake, and time of day. Safety managers then evaluate work schedules for potential issues and implement strategies that will attempt to address the problems and minimize risks. Risk assessment tool - Factors include the length and timing of work periods, time-on-task, workload, consecutive days or nights of work, variations in work schedule, and timing and duration of rest periods. Other factors to consider include worksite environmental conditions, commute times, and other potential stressors such as critical deadlines. Safety managers can similarly evaluate potential risks with this approach and determine interventions to minimize those risks. ProTip: You can do all of this by using a tool like iReportSource by the way. So as I often ask folks; if you aren't already using a digital EHS solution, why? Wrapping it all Up An integrated, multi-element fatigue program is most beneficial, though the implementation of incremental activities may be more feasible for smaller companies or those with limited resources. Fatigue champions should remain aware that change is difficult and should be managed with care; highlight benefits for employees such as quality of life and improved health. Transparency and shared information are essential in getting buy-in from all participants. Data-driven processes provide important empirical information on what issues exist within an organization and provide a framework for continued improvements to the program. The National Safety Council is leading the conversation on workplace fatigue in the U.S. Follow the various links in this post to learn more. Additional Resources   NIOSH offers tips to help reduce the effects of fatigue in the workplace: Allow at least 10-consecutive hours per day of off-duty time for workers to get 7-8 hours of sleep. Provide frequent rest breaks during demanding work. Adjust shift lengths to either five 8-hour shifts or four 10-hour shifts. Schedule one or two full days of rest to follow five consecutive 8-hour shifts or four 10-hour shifts. Train workers to be aware of the demands of shiftwork and to know what resources are available if they have difficulties. Examine near-misses and incidents to determine if fatigue played a role. Cost of a Tired Workforce NSC in collaboration with the Brigham and Women’s Hospital Sleep Matters Initiative developed an online fatigue cost calculator that estimates the cost of sleep deficiency for businesses. Entering four data points into the calculator – workforce size, industry, location, and shift scheduling practice – generates an estimated dollar cost that helps the organization quantify the cost of fatigue and justify the implementation of a fatigue risk management system (FRMS). The cost calculator and the methodology used to create it are in Calculating the Cost of Poor Sleep: Methodology at www.nsc.org/tiredatwork. Find more information about the effects of fatigue on physical and mental functioning in the NSC report Tired at Work: How Fatigue Affects Our Bodies. You have a lot on your plate…But iReportSource helps you own safety and become the master of your culture:     Record, report, and minimize safety incidents using iReport.  Understand your existing safety culture and reinforce the positive aspects, bit by bit, so you can improve the employee experience. Get in touch to learn more about how you can own your safety culture and prevent injuries before they happen with iReport.

MsM: Nun will der Lenz uns grüßen - FRmS#45

Mitsingmelodie-HorchWasKommtVonDraussenRein - FRmS#43

DasInteressanteThema: Schatzsuche-FRmS#44

Tips&Kniffe: Rodeln-FRmS#42

Papiergeld-FRmS#41

Das Geheimnis der Schneeflocken - FRmS#40

SPAM-Analyse-Milliardärsclub - FRmS#38

Tips&Kniffe: Private-online-Autovermietung - FRmS#37

Mitsingmelodie: Am Brunnen vor dem Tore -FRmS#39

DieMitsingmelodie: Maria durch ein Dornwald ging-FRmS#36

#206: Student loan debt vs. real estate investing. Where should you devote your dollars? You get answers. I tell you how to eliminate investing “uncertainty”. The “BRRRR” real estate investing strategy is discussed - pros and cons. It’s a hybrid between flipping and buy-and-hold. Turnkey vs. BRRRR real estate investing. I cover the history of mortgages from the 1930s to today. FDR and World War II had substantial impact. Fannie Mae was born in 1938. Freddie Mac didn’t begin tracking mortgage rates until 1971. 2000 was the last year that mortgage rates (30-year FRMs) exceeded 8%. The median 30-year mortgage rate since 1971 is 7.7%. Let’s meet in-person at the New Orleans Investment Conference. __________________ Want more wealth? 1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths __________________ Listen to this week’s show and learn: 02:13 Student loan debt vs. real estate investing. 07:53 The BRRRR Strategy: pros and cons. 17:00 Turnkey vs. BRRRR real estate investing. 19:44 History of mortgages: 1930s to today. 26:33 The median 30-year mortgage rate since 1971 is 7.7%. 28:56 Let’s meet in-person at the New Orleans Investment Conference. Resources Mentioned: New Orleans Investment Conference Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Turnkey RE: NoradaRealEstate.com QRP: TotalControlFinancial.com Find Properties: GREturnkey.com GRE Book: GetRichEducation.com/Book

In this episode we introduce myself (the host) Ian Dunican and the podcast Sleep4Performance. Host Bio Ian Dunican (MineEng, MBA,GCASSc,BA) has twenty years international professional experience in Project Management, Health and Safety and Fatigue Risk Management Systems (FRMS) in military, mining, oil and gas. He is the Director of Sleep4Performance, an expert consultancy for FRMS and operations, and a researcher at the University of Western Australia (UWA), where he works with elite sporting organisations for optimisation of performance and recovery. He is currently the adviser to the Western Force and has worked with combat sports at the Australian Institute of Sport and the Perth Wildcats. Ian has led and guided the improvement of FRMS in a range of diverse mining locations including Mozambique, Canada, USA, Australia and Mongolia, in his role as the Global Principal Adviser for Rio Tinto for Fatigue/Human Performance. His consultancy organisation, Sleep4Performance, is focused on supporting predominantly WA mining companies in the effective and safe management of shifts and rosters. Clients include South 32, Karara Mining, Peabody and BroadSpectrum. He is the founding Chair and previously, from 2012-2015 the Co-Chair Special Interest Group (SIG) Occupational, Health, Safety & Performance, of the Australasian Sleep Association (ASA). He is a regular invited reviewer for peer reviewed scientific journals, and a regular keynote, invited speaker and chair at universities and international conferences in mining, oil and gas. Conferences include the International Council of Minerals and Metals (ICMM), Australian Journal of Mining and the Sleep Down Under, Australasian Sleep Association. He has made numerous media appearances on radio, television, podcasts, papers and magazines such as Australian Broadcasting Corporation, Channel 9 and 7, Financial Review in relation to shiftwork, fatigue and optimisation of recovery for elite athlete Goals of this Podcast are to  Educate our listeners about sleep science and the benefits to recovery and performance. Expand my own knowledge and this who listen (point 1) Entertain our listeners to the cool and fun aspects of sleep science and how different people and organisations optimise sleep. Upcoming guest Elite level athletes including Rugby, Basketball, MMA, Judo Coaches and managers Physiologist, scientist, strength coaches, nutritionist etc. Researchers, laboratory and applied. Leaders of industry from mining, oil, gas, rail and transportation. Medical aspects of sleep with sleep disorder physicians and specialists. Frequency I am really excited about doing the podcast and meeting all these great people. As I confirm guests, I will let you know so you can keep an eye out for the release of these. You can also sign up to the newsletter from sleep4performance released every month, 2 week spacing. Regular posts on twitter and every 2-3 days on Facebook. I hope you enjoy the upcoming shows. Ian Dunican  Email: iandunican@sleep4performance.com.au Website: www.sleep4performance.com.au Twitter: @sleep4perform Facebook: Sleep4Performance page