Podcasts about TPI

It's been another interesting year in the world of personal finance and macroeconomics. As we look ahead to 2026… well, who really knows what's coming? I'll be sharing my own take—and making a few predictions—in an upcoming episode. What's hard to ignore is just how unusual this moment in history is. We're coming off COVID. We went through a rapid rise in interest rates, and now a pullback. Tariffs are back in the conversation. There are a lot of moving parts, and as usual, the consensus hasn't exactly nailed it. Almost every expert was convinced tariffs would push inflation higher. I expected at least a temporary bump—some transient inflation while markets adjusted. Then the CPI report came out at 2.7%. That's a lot closer to the Fed's 2% target, and nearly half a percentage point lower than expectations. Clearly, something else is going on. At the same time, GDP came in at around 4.3% growth. That's real strength. Inflation is coming down, growth is strong, and while the labor market is still a little murky, there's no question there's underlying momentum in the system. Investors haven't quite felt it yet. It's been a sticky environment. But my sense is that we're getting closer to a shift—more liquidity, more money in the system, and markets that may start moving meaningfully again. Of course, we'll see how it all plays out. For this episode, my producer Phil pulled together some of the highlights from the show in 2025—a look back at the conversations and ideas that stood out in a year when the data kept surprising just about everyone. I hope you enjoy it. And again, happy holidays. Merry Christmas, and Happy New Year. Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  Welcome everybody. This is Buck Joffrey with D Wealth Formula Podcast, coming to you from Montecito, California and, uh, want to wish you, first of all, a happy holidays. Merry Christmas, happy new Year, all that. And, uh, yeah, it’s been, uh, it’s been another, uh, another interesting year in the world of personal finance and macroeconomics is what, what we talk about on the show. And as we look forward to 2026, gosh, who knows what’s gonna happen, right? Uh, well I’ll give you my take in, uh, show coming up where I’m gonna make some predictions. However, you know, it’s just, it, it, it’s just such an unusual time in, in history. Um, as we kind of look at. Coming off of COVID and having those high interest rates and then coming, uh, coming down and then having Trump elected and now the tariffs and well, gosh, who knows? Right? I mean, just for example, you know, almost every expert was pretty much guaranteeing that inflation would go up because of the tariffs. I mean, even if it was transient, which frankly I thought it was gonna be transient, meaning that there was gonna be a bump in inflation. For a period of time until there was a readjustment after tariffs. Well, TPI comes up most recent CPI is actually 2.7. You know, that’s much closer to the fed target of 2%. And, um, 2.7 was, you know, I think, uh, almost a half, half percentage point less than the expected, uh, CPI, uh, report. So that, that’s obviously something else is going on there. And then. GDP numbers came out and we had a four handle. It was like 4.3, I believe, GDP. So we’ve got incredible growth. We’ve got decreasing inflation. The labor market is still, I know, a little unclear, but it seems like there’s a lot of strength in this market. Of course, it’s really sticky investors. We haven’t quite felt that strength yet, but I do think you need to start anticipating. That markets are gonna come back pretty heavy, uh, with increased liquidity, uh, and a lot of money in the system. But we shall see, uh, this show. What we’re gonna do here is, uh, my, uh, producer Phil put this together, but it’s basically some of the highlights of, uh, the show in, in 2025. So hopefully you enjoy it. Uh, and again, happy holidays. Merry Christmas, new Year. And we’ll be back right after these messages. Wealth Formula banking is an ingenious concept powered by whole life insurance, but instead of acting just as a safety net, the strategy supercharges your investments. First, you create a personal financial reservoir that grows at a compounding interest rate much higher than any bank savings account. As your money accumulates, you borrow from your own. Bank to invest in other cash flowing investments. Here’s the key. Even though you’ve borrowed money at a simple interest rate, your insurance company keeps paying. You compound interest on that money even though you’ve borrowed it at result, you make money in two places at the same time. That’s why your investments get supercharged. This isn’t a new technique, it’s a refined strategy used by some of the wealthiest families in history, and it uses century old rock solid insurance companies as its back. Turbocharge your investments. Visit wealth formula banking.com. Again, that’s wealth formula banking.com. How do you approach the process of identifying stocks that are maybe best suited for consis consistent cash flow? Or do you just pick the stocks that you like and, and create the cash flow? Or are, you know, fundamental metrics that maybe you prioritize? Yeah, the, the, the first thing to determine. I think real estate investors understand this is if I were to invest in real estate, I’m gonna determine whether I’m gonna be a flipper, or I’m gonna try and buy low forced depreciation, sell high. Or if I’m gonna be a cashflow investor where I might invest in syndication, or I am, I’m gonna have tenants in property management. And the same is true with stocks. Most people start off by thinking about price rather than cash flow. They think about buy low, sell high, like a house slipper, and that’s, that’s less tenable in stocks because in real estate, if I buy low and sell high, I can do things to force appreciation. I can renovate, I can get new management, I can put in new appliances. I, there’s things I can do to force appreciation. But once a person buys a stock, there’s absolutely nothing you can do to make the stock price go up. But if you take a a, if you think of it like a real estate investor. You think about it like owning a business where the priority, as you mentioned these metrics, the priority is, Hey, what kind of cashflow will this produce be in terms of dividends and in my case, option premiums. And so some of the key metrics is, you know, if I, I’m basically buying a financial statement, same as real estate. You know, I, I, I, it is just a little different numbers in real estate. I wanna know what the net operating income is. In stocks, I might wanna know what the EBITDA is ’cause they’re essentially looking at the same types of things in real estate. I wanna know what the cap rate is in stocks. I wanna know what the PE ratio is, which is just the same number inverted. They just put the price on the top instead of the bottom. To me, I don’t see a difference between real estate and stocks, uh, in that they’re both a business or they charge someone for a good or a service. And there’s either cashflow there at the end of it or not. If people take a cash flow approach, they can begin to build on their passive income. And that contributes to that blueprint we mentioned earlier to get ’em outta the route race. So if you take a Warren Buffet approach, the most important number in that business is operational cash flow or earnings. Meaning does what they do, their operation. You know, you walk in there, a nice operation you got going here, you know, trucks are moving and you know, products are being built and shipped and, and nice operation. If they’re earning money, that means that’s the life flood of the business. That means it’s got a good moat. That means it’s pretty protected and that allows them to do two things for me. Number one is a dividend, which is exactly the same thing as a distribution in real estate. Uh, there is no difference, uh, in a syndication. I have a whole bunch of investors I’ve joined with where you have a share of this project and when the earnings come out, they distribute the, the distributions among the share shareholders. Same is true with stocks. They take the earnings, uh, we call it a payout ratio, and they take a, a, a significant amount of that money and they pay it in a dividend, same as a distribution. But what I do that’s a little bit unique buck is, uh, is I also have the options market on my side. Where I can use options to control risk, uh, to get guarantees where I can buy and sell, but even more importantly, I can offer, uh, and get paid for making promises to people. This is very much a Warren Buffet deal where it, it brings a significant increase to my monthly cash flow beyond the dividend, up to three, two and three times. Uh, the amount of money, two to 300% more cash flow. By being involved in the options market and that’s, that’s a nice secret sauce. The yield max Tesla option income, ETF, which is TSLY. And basically what it does is. Is it just does a series of longs and shorts and, and then generates what looks like to be kind of a, a ridiculous amount of, uh, dividend, uh, per, per month. So what are we missing here? What, what’s, well, you’re, you’re basically hiring those guys to mow your grass. It’s just like any other mutual fund or any other. They’re doing something you could absolutely do by yourself and not pay them a fee. There’s two cultures. There’s the advice culture and there’s the education culture and the advice culture. People say, look, I don’t wanna learn anything. Just gimme the advice. Well, you’ll pay for that in fees. And the problem with doing that is if you really listen to Warren Buffett, which 1% is enormous. Because in the wealth blueprint that we do for people, we use compounding. We use the compounding calculator to see what we’re gonna need. You drop that 1%, you give up 1% of your compounding powers as an investor over your life, it, it wouldn’t seem like 1%, but Buffet knows the truth. It’s enormous. So yeah, absolutely there are ETFs and there are funds that will do exactly what I do or what I teach people to do, but we have some advantages in doing it yourself because risk is about control. I trust myself more than I trust those guys any day of the week. And like I say, I’m doing this by month, so yeah. But it’s legit. How do you even make predictions? And second of all, I mean presumably you still have some forecasts over the next, uh, 12 to 24 months, and maybe you could tell us a little bit about that. Our methodology lends itself to times of uncertainty like this, and that’s the benefit of really relying on the leading indicators that we have. Now. We do have to take a little bit of a different approach. We have to look at data in a lot higher frequency today. You know, a lot of the data you get from government sources or quarterly data, monthly data, but we’re having to track weekly trends with the ever-changing environment that we find ourselves in. So we’re not surprised by the time any monthly or quarterly data comes out. The level of uncertainty that we’re dealing with is certainly unprecedented. I share an index each day, um, and we are three times more uncertain today than we were at the height of the pandemic. You know, put that in perspective, right? Yeah. So we do have to adjust, um. The, the way that we’re looking at data with higher frequencies, we also have to rerun a lot of these correlation analysis. Every single time we get a new data point to see are these lead times becoming more condensed? Do we have to make adjustments in our models as a result to maybe data reacting quicker than it might have in the past? So those are some of the ways that we’re, we’re continuing to evolve in these interesting times we live in. This relates to our forecast. Our team expected some weakness in the first part of this year, and, and we knew that coming in with the, with the tariffs that were proposed during President Trump’s campaign, we did have a weak first quarter GDP number forecast. Our team was 0.1% off of nailing that first quarter GDP number, so they were right on the money there. Uh, we were very impressed with that, but we do expect a sluggish first half of the year. We call it the recovery phase of the cycle. What we mean by that is our growth rates are still building momentum, but are still negative year over year. You know, ITR. Really known for its emphasis on leading indicators. So which of the leading indicators you guys rely on the most when and, and I guess which are flashing red or green right now? I’ll give you one of each. Uh, yeah. The one we’re in right now, we look at the purchasing managers, index isms, purchasing managers index. Now we look at at on a one 12 basis. What I mean by that is we compare the most recent month, the same month one year ago. The reason we look at it on that basis is it gives us 12 month lead time into the future when you correlate it to the economy. That index was recently rising until we got the most recent month of data, and then it dropped back down. So that is giving us the mixed signal of, hey, we need to be a little bit more concerned about the prospect for growth moving forward. Now the opposite is true when we look at an indicator called capacity utilization. What Capacity utilization measures, it’s about an eight month lead time to the economy. So still a nice view into the future, but what it measures is output over capacity, and that actually continues to improve meaning. And again, really all that means on a simple level is we’re utilizing more of our existing capacity, so we’re getting busier. If we look at the consumer side of inflation that the Fed’s more concerned about in terms of setting policy, we have inflation essentially flat this year from where we are today. Now, if you look at the CPI, it’s at 2.8%. Our projection for the end of the year is 2.8%. We don’t see inflation coming down much at all. As a result of that, that’s why you’re seeing Chairman Powell back off being able to cut rates and is holding these rates steady because he sees these higher inflation risks as well. And so from our perspective, it’s very unlikely you see any meaningful interest rate decline this year. Yeah. Now again, the second quarter, GDP number can have an impact on that. We do see a very weak second quarter chairman Powell alluded just a couple of days ago to some slack in the labor market. Maybe you can get a quarter point if we have a really weak second quarter, quarter point cut, but it just seems very unlikely given how persistent inflation has been. And so we tell all of our clients, prepare for interest rates to be relatively flat this year, and prepare for interest rates to rise through the balance of the second half of the decade. It’s not just tariffs, it’s employment costs, it’s electricity costs, it’s material costs. There’s a lot more driving higher inflation than just tariffs. What macroeconomic trends are you watching right now with regards to how they’re shaping the markets today? I think there’s really three things right over the long run. They’re gonna debase the currency, that’s gonna be a persistent tailwind for all liquid, uh, assets, including stocks. Bitcoin gold and bonds. And then I think that you also are going to have a, uh, very interesting dynamic around all these tariffs, uh, and kind of the administration’s economic policies. And then the third thing is that there is a whole technology, uh, trend to, uh, pay attention to. Uh, obviously innovation is very deflationary. Uh, we’ve got, you know, things from humanoid robots to rockets to gene editing, to uh, to crypto and everything in between. And so I think those three things really tell the story of where, uh, markets potentially go in the future. When I grew up, um. S and P 500 was the benchmark. There’s a risk-free rate in bonds. I believe that my generation and younger sees Bitcoin as the benchmark. And so, uh, it’s very simple. If you can’t beat it, you gotta buy it. And I think that there’s institutions around the country who are realizing they can’t beat the benchmark and therefore they will end up buying it. And really, to me, that is, uh, maybe the most interesting. Part of the entire conversation is that Bitcoin obviously has risen significantly on a percentage basis in appreciation. Bitcoin has kind of infiltrated every corner of finance, but most importantly is it has transitioned from a high risk, you know, kind of asymmetric type asset to now it’s becoming the hurdle rate uhhuh. And if you’re the hurdle rate, you suck up a lot of capital. Yeah. Because there’s not a lot of people who can beat you. And I think that that is a very powerful position for Bitcoin to be in. And that’s how you infiltrate into, uh, the institutional portfolios. Bitcoin will stop going up. When they stop printing money. I don’t think they’re gonna stop printing money, so I don’t think Bitcoin’s gonna stop going up. That’s kind of one huge component of this. The second thing is that Bitcoin is very unique in that the higher the price goes, the less risky it is deemed by the largest pools of capital. Mm-hmm. And so usually, you know, if NVIDIA’s at a $4 trillion market cap, people like, oh, it might be overvalued there. A lot of debate. Right. Bitcoin if it was at a $4 trillion market cap would be way less risky than it when’s at 2 trillion. And so there is a lot of structural advantages, both from the legacy world but also from the Bitcoin market that I think will continue to lead to these large institutional capital pools. Uh, allocating some percentage. And the beauty is right now we have very small adoption in that world. Uh, it’s only gonna get bigger. It’s only gonna get more normalized. And I think that one of the parts people really underestimate when it comes to Bitcoin is how important time passing is. You know, if you think back, uh, there is not anyone under the age of 16 that has lived their life without Bitcoin existing. If you’re keeping large chunks of money in savings account, paying less than 1% or any percent less than inflation, you’re bleeding wealth every single day. It feels safe. It looks safe, right? ’cause the numbers may not be moving nominally but it, but it’s not safe. It’s a bucket with a hole in the bottom and you don’t even notice until it’s almost empty. That’s why the wealthy don’t hoard cash. They own assets. They own assets that inflate with inflation. If you can’t beat ’em, join them. They buy things that grow in value as dollars shrink because they understand the system. They don’t fight it, they ride it. So you’ve said many times that the current monetary system is broken and headed for reckoning. So from your perspective, what are the core flaws in the system right now and how do we get here? Well, probably the largest and most obvious underlying flaw in the monetary system is the fact that the federal government just can’t balance its budget. And so they have to take on debt to cover the deficit that they run and that deficit. Well, you know, over the course of the last 20 years, it’s gone up and down. More recently, it’s gone mostly up and, uh. We just came through a period where, you know, it was reemphasized to everybody. Just what a problem this is. Because as you’ll recall, when Trump was first elected, they were talking about those, the Department of Government Efficiency and cutting expenses and you know, maybe 2 trillion or 1 trillion. Of course, then Elon got frustrated and left and the numbers have come down and you know, Trump and the Freedom Caucus was saying they were gonna try and balance the budget or at least cut expenses. And of course, what we know is that they just passed this big beautiful bill. Which really increases the deficits and they bump the debt, uh, ceiling up by another $5 trillion. So sadly, what do many of us have seen and been saying, which is to say they just can’t stop, kind of continue. Seems to be continuing. And, um, you know, the reason why that, just to close the full circle, the reason why that matters is they, they do this debt, they issue debt to cover these deficits, and then the debt requires interest payments and, you know, there’s not enough money to make the interest payments. And so. They more or less have to print the money, you know, and inflate the money supply to keep the system going. And that’s why it’s so important to hard assets. You know, we need to grow the economy at, you know, 4, 5, 6, 7% a year, which, which we’ve never really done on real terms. Well, I think that is kind of what they’re projecting it might be, but it, it’s gonna be harder than hell to achieve. I mean, it just, where you can’t just snap your fingers and create that growth. Now, don’t get me wrong, if you start to, if you ramp up inflation. If you have 10% inflation, well then the GDP number’s gonna get bigger, fast. And so really the model they’ve used, they call it the R Star model, is that they’ve got to have faster growth. Growth rate has to be higher than interest rates, or else you’re in a debt spiral. And so what’s been happening is, by the way, that’s why Trump wants to take interest rates down so much. You know, he is called for a 300 basis point cut. Imagine right now with inflation running at three plus percent, if they cut rates to one point a half percent or one point a quarter percent, I mean, it would be good for the economy. People would refi their houses. You know, there were all kinds of, you know, growth, right? Huge. But in turn it would be inflationary, very inflationary. That’s the trap. They’re really kind of caught in. It’s a seventies kind of stagflation sort of environment. You know, if they don’t keep rates low, they’re not gonna have any growth. If they want to get growth, they’ve gotta keep rates low. That’s gonna lead to monetary creation, which is gonna lead to inflation. Look how it all resolves is very complicated and none of us know. Yeah, sure. But what I do know with very high certainty, with a lot of confidence is this is going to be an inflationary decade. It’s already been an inflationary decade, and because of the way the math is today is very highly likely to continue to be an inflationary decade until we fix this monetary system. Well, we have less than 3% adoption. Three goes to six fairly easily. You know, human beings underestimate how long change really requires, and then we really underestimate how much change actually occurs. Think the internet like we are moving into a digital planet, right? Robots are not going to use credit cards, man. They’re not gonna use, they don’t need visa. We don’t need middlemen. The cool thing about Bitcoin, unlike the Rolls Royce, is you don’t have to buy the whole Rolls Royce. You can buy a fraction of it. You know, you don’t, maybe you guys partner with each other to do apartment buildings. Well, you’re already doing fractured deals on apartment buildings, so Sure. It’s not really that different. 2%, 3% goes to six. I mean, it does go to six. You have the largest ETF in the history of ETFs, okay? This supersedes the goal. ETF by orders of magnitude. I study markets very, very well, price. Really gets people’s attention. I think price is, uh, 90% of Bitcoin. Like I am truly a supply and demand guy. Oh wow. 21 million. And you guys have lost four. You lost 4 million coins. Oh, how’d you lose the 4 million? You lost the 4 million. I know how you lost it. You mispriced it. Bitcoin has been mispriced every day. Its entire history. Dude. 19 million coins have been issued. The addressable market is 8 billion people. You don’t need ’em all. Yep. You just need a small function of those 8 billion to go, Ooh. 21 million units and and four have been lost. It’s already mispriced. Okay. They’re pricing Bitcoin at one 15 Today, assuming there’s 21 million units, we know there’s not. There’s 17, so the supply shrunk. The market caps at 2 trillion. Hello. The standard deduction for a household is now, uh, what in a low 32,000 range. And it turns out that 60% of the households in the United States cannot take advantage of itemized deductions. That is when they take their mortgage interest, property taxes, charitable deductions, they don’t get that number. And so there’s not as much benefit to home ownership as there used to be in the United States. With our big institutional players, nobody wants their appraised values to be quickly marked down to market, because if your competitors don’t do the same thing and they’re part of the index and benchmark that you compete against, you’re going to underperform. And so we’ve traditionally had a lot. Appraised values for real estate among the institutional players, especially. You don’t get this out of the private market, but you get this from the nare players, the institutional type players, and, um, and everybody’s, uh, uh, fearful of underperforming that index. I would prefer as a private investor just to go ahead, bite the bullet and mark it down. Now take the pain if in fact you’ve seen it go down. Some markets have seen property values go down 30, 35% even in multifamily, but they’ve bottomed out in the transaction market and, and absolutely the, uh, the appraisers are gonna have to bring it down and the owners are gonna have to ease up that pressure and say, yes, I want a realistic appraisal. But, um, but there is that fear of underperforming the index and that’s. What’s holding up the American appraisal firms in 2008, 9, 10, 11, we saw a lot of deep distress. The the smart money was ready for it. Now, there’s a lot of people with dry powder, as we say. Ready to p on the market hoping for some distress from those who cannot refinance now, whose, whose CMBS loan or other money is, is rolling. A couple points there. One is, I think you’re going to see more loan modifications this cycle than last time because they realize it’s temporary and they realize that not all properties are in trouble. And these tend to be the higher leverage properties. The smart private wealth investors tended to use conservative leverage over the last several years knowing we’d hit a cycle and, and they probably are 65% or less. Leverage some of the, um, greener newer investment managers might have gone up to 80% and might have even used variable rate debt when they shouldn’t have. They’re the ones getting nailed. They’re losing all their equity and that property is distressed. So there’s not that much of it out there. But there’s a little bit, and I would certainly pounce on it if you can find it. There are often a lot of sort of hidden costs associated with buying versus renting. Can you talk about trying to weed through some of that? Sure some of the highest costs that we don’t think about when we own, although we do take cut down on risk. And also I think that’s come back to consumption. I, I is the fact that there’s the opportunity cost. So think about having 50%, a hundred percent of your home paid for. This, it’s the opportunity cost. You’ve actually taken capital out of play at higher returns to put it into something that perhaps, yes, you see it as a form of an investment, but it’s also partly consumption. And I think that’s why many people end up paying for their homes when they can, because there’s an old saying, and that is, you can’t go broke if you don’t owe money on it. Right? So if you, it’s hard for the lender to come get your home and you don’t really care, right? You wanna be able to. Have no debt on your home. It doesn’t make the typical financial sense if we argue at it from leverage and returns and maximization of returns. I think most people this high end level are looking at, you know, I, I, I, I have high net worth. I’m looking at both consumption and the investment side of the component. But very often the consumption wins and the investment is I can be safe and I can own this house. Outright in many states too. Your homeowner, the home that you live in, you are actually, if you’ve homesteaded the home, you’re actually protected against lawsuits and other things that are out there. Divorce cases will protect your position in, in terms of a homestead, so you can protect a significant portion of wealth by having a paid for home. What are some of those markets that are really overpriced versus. I guess underpriced right now. So when we look at the top 10 most overpriced markets in America right now, we look at their prices, where they are and compare them to where they should be statistically modeling them. We’re seeing the most overpriced markets are Detroit at 33.5% and then falling, falling, descending. Order of Cleveland, Ohio. New Haven, Connecticut, Akron, Ohio, Worcester, Massachusetts, Las Vegas, Nevada, Hartford, Connecticut. Rochester, New York, Knoxville, Tennessee, Toledo, Ohio. You’ll notice. And these are overpriced. These are overpriced. These, the overpriced mark. That’s so, that’s sort of counterintuitive, isn’t it? Ab absolutely. But yes. Wow. Okay. And then h how about the, uh, underpriced markets? I’m curious on that too. Sure. So when we then go to the opposite end of the spectrum, and usually now with underpriced comes risk and there’s risk in both of these markets, what you wanna do, both overpriced and underpriced, what you wanna be long term in a housing market. Uh, ’cause you want to be really close to that trend and not have these dramatic swings. It’s just like stock price. We don’t like volatility. Housing, it’s, it’s dangerous for performance. The most underpriced markets. We only have four markets in America right now that are trading at a discount relative to their long-term pricing trend. In other words, statistically, where they historically prices say prices should be today only four cities are underperforming. That that’s Austin, Texas at 3.1% below where they should be, or a discount of 3.1%. San Francisco at a discount of 6.5%. Wow. New Orleans, Louisiana at a discount of 8.7 and Honolulu, Hawaii at a discount of 10.3. Notice I’m not saying these markets are inexpensive. They’re just below where they’ve historically been. These are the best buys right now because they’re below their long-term trend. One of our other indices, we call it our price to rent ratio. It’s really a PE ratio for rents versus home ownership. And then so we can look at that. So if you’re in our a hundred markets, we know the average price, right? So it’s gonna be priced, divided by the annual average rent. So it’s gonna be how many dollars in price do you pay for every $1 and annual rent? And that gives us the relative difference between owning and renting. The higher that ratio. The, the more you should on in general be leaning towards renting, the lower that ratio, the more you should be leaning towards owning. And we used to do an old buy versus rent index for 23 cities. We now do it for 100 cities. And this price to rent ratio produces almost the same exact answer. So when we look at the average price to rent ratio in an area and we just compare, are they above or currently are you above the price to rent ratio? Uh, for Los Angeles, California. Are you below it? If you’re above that average for say the last 10 years, you’re gonna be rent friendly. If you’re below it, you’re gonna be bio friendly. I can do this very quickly. Pick a California market you’d like to know about. Why don’t we try Dallas, Texas. Okay. Dallas, Texas. That one’s in the top 100 in terms of population. So Dallas, Texas, uh, their price to rent ratio is at about a, just below a 6% premium. In other words, that trade off between renting and owning is about 6% above where it should be, so it slightly favors renting. I’ll jump to the next index. If we look at actual prices in Dallas, there’s a slight premium. So it’s, it’s, it’s telling me, Hey, that my price to rent ratio’s high, slightly favoring ownership, but it’s probably because prices are a little high and they might change. Uh, Dallas has had a bit of a. Premium right now. So I will now go look at Dallas rents. My gut feeling is they’re gonna be below average and they are. They’re at about a 4.5% discount. So that’s just market dynamics in motion right there. And we can do that for a hundred cities pretty quickly. Mm-hmm. You make a lot of money, but are still worried about retirement. Maybe you didn’t start earning until your thirties, now you’re trying to catch up. Meanwhile, you’ve got a mortgage, a private school to pay for, and you feel like you’re getting further and further behind. Good news. If you need to catch up on retirement, check out a program. M put off by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your money from creditors, and provide financial protection to your family if something happens to you. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealth formula banking.com. Welcome back to the show everyone. Hope you enjoyed it and uh, once again. Thanks again for listening. Uh, I truly appreciate your support. I hope, uh, I hope it’s been entertaining for you and that you’ll learn something along the way and, um, you know, always appreciate your feedback. Shoot me an email, bucket wealth formula.com. Let me know if there’s things that you want me to do. Let me know if there’s things you wanna hear more about. Uh, but hopefully it’s gonna be a good year and we’re gonna keep plugging away talking about the, you know, try to get educated myself and pass along information to you on Wealth Formula Podcast. That’s it for me this week on Wealth Formula Podcast. This is Buck Joffrey. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit well formula roadmap.com.

Allen, Joel, Rosemary, and Yolanda break down the TPI Composites bankruptcy fallout. Vestas is acquiring TPI’s Mexico and India operations while a UAE company picks up the Turkish factories. That leaves GE in a tough spot with no clear path to blade manufacturing. Plus the crew discusses blade scarcity, FSA availability floors, and whether a new blade manufacturer could emerge. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us! Allen Hall: [00:00:00] Welcome to the Uptime Wind Energy Podcast. I’m your host, Allen Hall. I’ve got Yolanda Padron and Joel Saxum in Texas. And Rosemary Barnes is back from her long Vacation in Australia and TPI. Composites is big in the news this week, everybody, because they’re in bankruptcy hearings and they are selling off parts of the business. Vestas is, at least according to News Reports positioned to acquire. A couple of the LLCs down in Mexico. So there’s uh, two of them, TPI in Mexico, five LLC, and TPI in Mexico, six LLC. There are other LLCs, of course involved with this down in Mexico. So they’re buying, not sure exactly what the assets are, but probably a couple of the factories in which their blades were being manufactured in. Uh, this. Is occurring because Vestas stepped in. They were trying to have an auction and Vestas stepped forward and just ended up buying these two LLCs. [00:01:00] Other things that are happening here, Joel, is that, uh, TPI evidently sold their Turkish division. Do you recall to who they sold? That, uh, part of the Joel Saxum: business too, two companies involved in that, that were TPI Turkey, uh, and that was bought by a company called XCS composites. Uh, and they are out of the United Arab Emirates, so I believe they’re either going to be Abu Dhabi or Dubai based. Uh, but they took over the tube wind blade manufacturing plants in Isme, uh, also a field service and inspection repair business. And around 2,700 employees, uh, from the Turkish operation. So that happened just, just after, I mean, it was a couple weeks after the bankruptcy claim, uh, went through here in August, uh, in the States. So it went August bankruptcy for TPI, September, all the Turkish operations were bought and now we’ve got Vestas swooping in and uh, taking a bunch of the Mexican operations. Allen Hall: Right. And [00:02:00] Vestas is also taking TPI composites India. Which is a part of the business that is not in bankruptcy, uh, that’s a, a separate business, a separate, basically LLC incorporation Over in India, the Vestus is going to acquire, so they’re gonna acquire three separate things in this transaction. The question everybody’s asking today after seeing this Vestus move is, what is GE doing? Because, uh, GE Renova has a lot of blades manufactured by TPI down in Mexico. No word on that. And you would think if, if TPI is auctioning off assets that GE renova would be at the front of the line, but that’s not what we’re hearing on the ground. Joel Saxum: Yeah, I mean it’s, the interesting part of this thing is for Vestas, TPI was about 35% of their blade capacity for manufacturing in 2024. If their 30, if, if Vestas was 35%, then GE had to be 50%. There [00:03:00] demand 60. So Vesta is making a really smart move here by basically saying, uh, we’ve gotta lock down our supply chain for blades. We gotta do something. So we need to do this. GE is gonna be the odd man out because, I mean, I think it would be a, a cold day in Denmark if Vestas was gonna manufacture blades for ge. Allen Hall: Will the sale price that Vest has paid for this asset show up in the bankruptcy? Hearings or disclosures? I think that it would, I haven’t seen it yet, but eventually it’ll, it must show up, right? All, all the bankruptcy hearings and transactions are, they have an overseer essentially, what happens to, so TPI can’t purchase or sell anything without an, um, getting approved by the courts, so that’ll eventually be disclosed. Uh, the Turkish sale will be, I would assume, would be disclosed. Also really curious to see what the asset value. Was for those factories. Joel Saxum: So the Turkish sale is actually public knowledge right now, and [00:04:00] that is, lemme get the number here to make sure I get it right. 92.9 million Euros. Uh, but of, of course TPI laden with a bunch of non-convertible and convertible debt. So a ton of that money went right down to debt. Uh, but to be able to purchase that. They had to assu, uh, XCS composites in Turkey, had to assume debt as is, uh, under the bankruptcy kind of proceedings. So I would assume that Vestas is gonna have to do the same thing, is assume the debt as is to take these assets over and, uh, and assets. We don’t know what it is yet. We don’t know if it’s employees, if it’s operations, if it’s ip, if it’s just factories. We don’t know what’s all involved in it. Um, but like you said, because. TPI being a publicly traded company in the United States, they have to file all this stuff with SEC. Allen Hall: Well, they’ll, they’re be delisted off of. Was it, they were Joel Saxum: in Nasdaq? Is that where they were listed? The India stuff that could be private. You may ne we may not ever hear about what happened. Valuation there. Allen Hall: Okay, so what is the, the [00:05:00] future then for wind blade production? ’cause TPI was doing a substantial part of it for the world. I mean, outside of China, it’s TPI. And LM a little bit, right? LM didn’t have the capacity, I don’t think TPI that TPI does or did. It puts Joel Saxum: specifically GE in a tight spot, right? Because GEs, most of their blades were if it was built to spec or built to print. Built to spec was designed, uh, by LM and built by lm. But now LM as we have seen in the past months year, has basically relinquished themselves of all of their good engineering, uh, and ability to iterate going forward. So that’s kind of like dwindling to an end. TPI also a big side of who makes blades for ge if Vestas is gonna own the majority of their capacity, Vestas isn’t gonna make blades for ge. So GEs going to be looking at what can we, what can we still build with lm? And then you have the kind of the, the odd ducks there. You have the Aris, [00:06:00] you have the MFG, um, I mean Sonoma is out there. This XCS factory is there still in Turkey. Um, you may see some new players pop up. Uh, I don’t know. Um, we’ll see. I mean, uh, Rosemary, what’s, what’s your take? Uh, you guys are starting to really ramp up down in Australia right now and are gonna be in the need of blades in general with this kind of shakeup. Rosemary Barnes: What do we say? My main concern is. Around the service of the blades that we’ve already got. Um, and when I talk to people that I know at LM or XLM, my understanding is that those parts of the organization are still mostly intact. So I actually don’t expect any big changes there. Not to say that the status quo. Good enough. It’s not like, like every single OEM whose, um, FSAs that I work with, uh, support is never good enough. But, um, [00:07:00] it shouldn’t get any worse anyway. And then for upcoming projects, yeah, I, I don’t know. I mean, I guess it’s gonna be on a case by case basis. Uh, I mean, it always was when you got a new, a new project, you need a whole bunch of blades. It was always a matter of figuring out which factory they were going to come from and if they had capacity. It’ll be the same. It’s just that then instead of, you know, half a dozen factories to choose from, there’s like, what, like one or two. So, um, yeah, I, that’s, that’s my expectation of what’s gonna happen. I presumably ge aren’t selling turbines that they have no capability to make blades for. Um, so I, I guess they’re just gonna have a lot less sales. That’s the only real way I can make it work. Allen Hall: GE has never run a Blade factory by themselves. They’ve always had LM or somebody do it, uh, down in Brazil or TPI in Mexico or wherever. Uh, are we thinking that GE Renova is not gonna run a Blade Factory? Is that the thought, or, or is [00:08:00] that’s not in the cards either. Rosemary Barnes: I don’t think it’s that easy to just, just start running a Blade Factory. I mean, I know that GE had blade design capabilities. I used to design the blades that TPI would make. So, um, that part of it. Sure. Um, they can, they can still do that, but it’s not, yeah, it’s, it’s not like you just buy a Blade factory and like press start on the factory and then the, you know, production line just starts off and blades come out the other end. Like there is a lot of a, a lot of knowhow needed if that was something that they wanted to do. That should have been what they started doing from day one after they bought lm. You know, that was the opportunity that they had to become, you know, a Blade factory owner. They could have started to, you know, make, um, have GE. Take up full ownership of the, the blade factories and how that all worked. But instead, they kept on operating like pretty autonomously without that many [00:09:00] changes at the factory level. Like if they were to now say, oh, you know, hey, it’s, uh, we really want to. Have our own blade factories and make blades. It’s just like, what the hell were you doing for the last, was it like seven years or something? Like you, you could easily have done what? And now you haven’t made it as hard for yourselves as possible. So like I’m not ruling out that that’s what they’re gonna try and do, because like I said, I don’t think it’s been like executed well, but. My God, it’s like even stupid of the whole situation. If that’s where we end up with them now scrambling to build from scratch blade, um, manufacturing capability because there’s Yolanda Padron: already a blade scarcity, right? Like at least in the us I don’t know if you guys are seeing it in, in Australia as well, but there’s a blade scarcity for these GE blades, right? So you’re, they kind of put themselves in an even more tough spot by just now. You, you don’t have access to a lot of these TPI factories written in theory. From what we’re seeing. You mean to get like replacement blades? Yeah. So like for, for issues? Yeah. New [00:10:00] construction issues under FSA, that, Rosemary Barnes: yeah. I mean, we’ve always waited a, a long time for new blades. Like it’s never great. If you need a new blade, you’re always gonna be waiting six months, maybe 12 months. So that’s always been the case, but now we are seeing delays of that. Maybe, maybe sometimes longer, but also it’s like, oh well. We can’t replace, like, for like, you’re gonna be getting a, a different kind of blade. Um, that will work. Um, but you know, so that is fine, except for that, that means you can’t do a single blade replacement anymore. Now, what should have been a single blade replacement might be a full set replacement. And so it does start to really, um, yeah. Mess things up and like, yeah, it’s covered by the FSA, like that’s on them to buy the three blades instead of one, but. It does matter because, you know, if they’re losing money on, um, managing your wind farm, then it, it is gonna lead to worse outcomes for you because, you know, they’re gonna have to skimp and scrape where they [00:11:00] can to, you know, like, um, minimize their losses. So I, I don’t think it’s, it’s, it’s Yolanda Padron: not great. Yeah. And if you’re running a wind farm, you have other stakeholders too, right? It’s not like you’re running it just for yourself. So having all that downtime from towers down for a year. Because you can’t get blades on your site. Like it’s just really not great. Rosemary Barnes: Yeah, and I mean, there’s flaws on there. Like they’ve got an availability guarantee. Then, you know, below that they do have to, um, pay for that, those losses. But there’s a flaw on that. So once you know, you, you blast through the floor of your availability, then you know, that is on the owner. Now it’s not on the, um, service provider. So it’s definitely. Something that, yeah, there’s lots of things where you might think, oh, I don’t have to worry about my blades ’cause I’ve got an F, SA, but you know, that’s just one example where, okay, you will, you will start worrying if they, they yeah. Fall through the floor of their availability guarantee. Joel Saxum: Two questions that pop up in my mind from this one, the first one, the first one is [00:12:00] directly from Alan. You and I did a webinar, we do so many of ’em yesterday, and it was about, it was in the nor in North America, ferc, so. They have new icing readiness, uh, reporting you, so, so basically like if you’re on the, if you’re connected to the grid, you’re a wind farm or solar farm and you have an icing event, you need to explain to them why you had an outage, um, and why, what you’re doing about it. Or if you’re not doing something about it, you have to justify it. You have to do all these things to say. Hey, some electrons weren’t flowing into the grid. There’s certain levels. It’s much more complicated than this, but electrons weren’t flowing into the grid because of an issue. We now have to report to FERC about this. So is there a stage when a FERC or uh, some other regulatory agency starts stepping into the wind industry saying like, someone’s gotta secure a supply chain here. ’cause they’re already looking at things when electrons are on the grid. Someone’s got a secure supply chain here so we can ensure that [00:13:00]these electrons are gonna get on the grid. Could, can something like that happen or was, I mean, I mean, of course that’s, to me, in my opinion, that’s a lot of governmental overreach, but could we see that start to come down the line like, Hey, we see from an agency’s perspective, we see some problems here. What are you doing to shore this up? Allen Hall: Oh, totally. Right. I, I think the industry in general has an issue. This is not an OEM specific problem. At the minute, if this is a industry-wide problem, there seems to be more dispersed. Manufacturers are gonna be popping up. And when we were in Scotland, uh, we learned a lot more about that. Right, Joel? So the industry has more diversification. I, I, here’s, here’s my concern at the minute, so. For all these blade manufacturers that we would otherwise know off the top of our heads. Right. Uh, lm, TPI, uh, Aris down in Brazil. The Vestus manufacturing facilities, the Siemens manufacturing [00:14:00] facilities. Right. You, you’re, you’re in this place where. You know, everybody’s kind of connected up the chain, uh, to a large OEM and all this made sense. You know, who was rebuilding your blades next year and the year down, two years down the road. Today you don’t, so you don’t know who owns that company. You don’t know how the manager’s gonna respond. Are you negotiating with a company that you can trust’s? Gonna be there in two or three years because you may have to wait that long to get blades delivered. I don’t know. I think that it, it put a lot of investment, uh, companies in a real quandary of whether they wanna proceed or not based upon the, what they is, what they would perceive to be the stability of these blade companies. That’s what I would think. I, I, Vestas is probably the best suited at the minute, besides Siemens. You know, Vestas is probably best suited to have the most perceived reliability capability. Control, Joel Saxum: but they have their own [00:15:00] blade factories already, right? So if they buy the TPI ones, they’re just kind of like they can do some copy pasting to get the the things in place. And to be honest with you, Vesta right now makes the best blades out there, in my opinion, least amount of serial defects. Remove one, remove one big issue from the last couple Allen Hall: years. But I think all the OEMs have problems. It’s a question of how widely known those problems are. I, I don’t think it’s that. I think the, the, the. When you talk to operators and, and they do a lot of shopping on wind turbines, what they’ll tell you generally is vestus is about somewhere around 20% higher in terms of cost to purchase a turbine from them. And Vestus is gonna put on a, a full service agreement of some sort that’s gonna run roughly 30 years. So there’s a lot of overhead that comes with buying a, a Vestas turbine. Yes. You, you get the quality. Yes. You get the name. Yes, you get the full service agreement, which you may or [00:16:00] may not really want over time. Uh, that’s a huge decision. But as pieces are being removed from the board of what you can possibly do, there’s it, it’s getting narrow or narrow by the minute. So it, it’s either a vestus in, in today’s world, like right today, I think we should talk about this, but it’s either Vestus or Nordic. Those are the two that are being decided upon. Mostly by a lot of the operators today. Joel Saxum: That’s true. We’re, and we just saw Nordex, just inked a one gigawatt deal with Alliant Energy, uh, just last week. And that’s new because Alliant has traditionally been a GE buyer. Right. They have five or six ge, two X wind farms in the, in the middle of the United States, and now they’ve secured a deal with Nordex for a gigawatt. Same thing we saw up at Hydro Quebec. Right. Vestas and Nordex are the only ones that qualify for that big, and that’s supposed to be like a 10 gigawatt tender over time. Right. But the, so it brings me to my, I guess my other question, I was thinking about this be [00:17:00] after the FERC thing was, does do, will we see a new blade manufacturer Allen Hall: pop Joel Saxum: up? Allen Hall: No, I don’t think you see a new one. I think you see an acquisition, uh, a transfer of assets to somebody else to run it, but that is really insecure. I, I always think when you’re buying distressed assets and you think you’re gonna run it better than the next guy that. Is rare in industry to do that. Think about the times you’ve seen that happen and it doesn’t work out probably more than 75% of the time. It doesn’t work out. It lasts a year or two or three, and they had the same problems they had when the original company was there. You got the same people inside the same building, building the same product, what do you think is magically gonna change? Right? You have this culture problem or a a already established culture, you’re not likely to change that unless you’re willing to fire, you know, a third of the staff to, to make changes. I don’t see anybody here doing that at the minute because. Finding wind blade technicians, manufacturing people is [00:18:00] extremely hard to do, to find people that are qualified. So you don’t wanna lose them. Joel Saxum: So this is why I say, this is why I pose the question, because in my mind, in in recent wind history, the perfect storm for a new blade manufacturer is happening right now. And the, and the why I say this is there is good engineers on the streets available. Now washing them of their old bad habits and the cultures and those things, that’s a monumental task. That’s not possible. Allen Hall: Rosemary worked at a large blade manufacturer and it has a culture to it. That culture really didn’t change even after they were acquired by a large OEM. The culture basically Rosemary Barnes: remained, they bizarrely didn’t try and change that culture, like they didn’t try to make it a GE company so that it wasn’t dur, it was wasn’t durable. You know, they, they could have. Used that as a shortcut to gaining, um, blade manufacturing capabilities and they didn’t. And that was a, I think it was a choice. I don’t think it’s an inevitability. It’s never easy to go in and change a, a culture, [00:19:00] but it is possible to at least, you know, get parts of it. Um, the, the knowledge should, you should be able to transfer and then get rid of the old culture once you’ve done that, you know, like, uh. Yeah, like you, you bring it in and suck out all the good stuff and spit out the rest. They didn’t do that. Joel Saxum: The opportunity here is, is that you’ve got a, you’ve got people, there’s gonna be a shortage of blade capacity, right? So if you are, if you are going to start up a blade manufacturing facility, you, if you’re clever enough, you may be able to get the backlog of a bunch of orders to get running without having to try to figure it out as you go. Yolanda Padron: I feel like I’d almost make the case that like the blade repair versus replace gap or the business cases is getting larger and larger now, right? So I feel like there’s more of a market for like some sort of holistic maintenance team to come in and say, Hey, I know this OEM hasn’t been taking care of your blades really well, but here are these retrofits that have proven to be [00:20:00]to work on your blades and solve these issues and we’ll get you up and running. Rosemary Barnes: We are seeing more and more of of that. The thing that makes it hard for that to be a really great solution is that they don’t have the information that they need. They have to reverse engineer everything, and that is. Very challenging because like you can reverse engineer what a blade is, but it doesn’t mean that, you know, um, exactly like, because a, the blade that you end up with is not an optimized blade in every location, right? There’s some parts that are overbuilt and um, sometimes some parts that are underbuilt, which gives you, um, you know, serial issues. But, so reverse engineering isn’t necessarily gonna make it safe, and so that does mean that yeah, like anyone coming in with a really big, significant repair that doesn’t go through the OEM, it’s a, it’s a risk. It, it’s always a risk that they have, you know, like there’s certain repairs where you can reverse engineer enough to know that you’re safe. But any really big [00:21:00] one, um, or anything that involves multiple components, um, is. Is a bit of a gamble if it doesn’t go through the OEM. Joel Saxum: No, but so between, I guess between the comments there, Yolanda and Rosemary, are we then entering the the golden age of opportunity for in independent engineering experts? Rosemary Barnes: I believe so. I’m staking, staking my whole business on it. Allen Hall: I think you have to be careful here, everybody, because the problem is gonna be Chinese blade manufacturers. If you wanna try to establish yourself as a blade manufacturer and you’re taking an existing factory, say, say you bought a TPI factory in Turkey or somewhere, and you thought, okay, I, I know how to do this better than everybody else. That could be totally true. However, the OEMs are not committed to buying blades from you and your competition isn’t the Blade Factory in Denmark or in Colorado or North Dakota, or in Mexico or Canada, Spain, wherever your competition is when, [00:22:00] uh, the OEM says, I can buy these blades for 20 to 30% less money in China, and that’s what you’re gonna be held as, as a standard. That is what’s gonna kill most of these things with a 25% tariff on top. Right? Exactly. But still they’re still bringing Joel Saxum: blades in. That’s why I’m saying a local blade manufacturer, Rosemary Barnes: I think it’s less the case. That everyone thinks about China, although maybe a little bit unconventional opinion a about China, they certainly can manufacture blades with, uh, as good a quality as anyone. I mean, obviously all of the, um, Danish, uh, American manufacturers have factories in China that are putting out excellent quality blades. So I’m not trying to say that they dunno how to make a good blade, but with their. New designs, you know, and the really cheap ones. There’s a couple of, um, there’s a couple of reasons for that that mean that I don’t think that it just slots really well into just replacing all of the rest of the world’s, um, wind turbines. The first is that there are a lot of [00:23:00] subsidies in China. Surely there can only continue so long as their economy is strong. You know, like if their economy slows down, like to what extent are they gonna be able to continue to, um, continue with these subsidies? I would be a little bit nervous about buying an asset that I needed support for the next 30 years from a company like. That ecosystem. Then the other thing is that, um, that development, they move really fast because they take some shortcuts. There’s no judgment there. In fact, from a develop product development point of view, that is absolutely the best way to move really fast and get to a really good product fast. It will be pervasive all the way through every aspect of it. Um, non-Chinese companies are just working to a different standard, which slows them down. But also means that along the way, like I would be much happier with a half developed, um, product from a non-Chinese manufacturer than a half developed product from a Chinese manufacturer. The end point, like if China can keep on going long enough with this, [00:24:00] you know, like just really move fast, make bold decisions, learn everything you can. If they can continue with that long enough to get to a mature product, then absolutely they will just smash the rest of the world to pieces. So for me, it’s a matter of, um, does their economy stay strong enough to support that level of, uh, competition? Allen Hall: Well, no, that’s a really good take. It’s an engineering take, and I think the decision is made in the procurement offices of the OEMs and when they start looking at the numbers and trying to determine profitability. That extra 20% savings they can get on blades made in China comes into play quite often. This is why they’re having such a large discussion about Chinese manufacturers coming into the eu. More broadly is the the Vestas and the Siemens CAAs and even the GE Re Novas. No, it’s big time trouble because the cost structure is lower. It just is, and I. [00:25:00] As much as I would love to see Vestas and Siemens and GE Renova compete on a global stage, they can’t at the moment. That’s evident. I don’t think it’s a great time to be opening any new Blade Factory. If you’re not an already established company, it’s gonna be extremely difficult. Wind Energy O and M Australia is back February 17th and 18th at Melbourne’s Pullman on the park. Which is a great hotel. We built this year’s agenda directly from the conversations we’ve had in 2025 and tackling serial defects, insurance pressures, blade repairs, and the operational challenges that keeps everybody up at night around the world. So we have two days of technical sessions, interactive roundtables and networking that actually moves the industry for. Forward. And if you’re interested in attending this, you need to go to WMA 2020 six.com. It’s WOMA 2020 six.com. Rosemary, a lot of, uh, great events gonna happen at. W 2026. Why don’t [00:26:00] you give us a little highlight. Parlet iss gonna be there. Rosemary Barnes: Parlow is gonna be there. I mean, a highlight for me is always getting together with the, the group. And also, I mean, I just really love the size of the event that uh, every single person who’s there is interested in the same types of things that you are interested in. So the highlight for me is, uh, the conversations that I don’t know that I’m gonna have yet. So looking forward to that. But we are also. Making sure that we’ve got a really great program. We’ve got a good mix of Australian speakers and a few people bringing international experience as well. There’s also a few side events that are being organized, like there’s an operators only forum, which unfortunately none of us will be able to enter because we’re not operators, but that is gonna be really great for. For all of them to be able to get together and talk about issues that they have with no, nobody else in the room. So if, if you are an operator and you’re not aware of that, then get in touch and we’ll pass on your details to make sure you can join. Um, yeah, and people just, you know, [00:27:00] taking the opportunities to catch up with clients, you know, for paddle load. Most or all of our clients are, are gonna be there. So it is nice to get off Zoom and um, yeah, actually sit face to face and discuss things in person. So definitely encourage everyone to try and arrange those sorts of things while they’re there. Joel Saxum: You know, one of the things I think is really important about this event is that, uh, we’re, we’re continuing the conversation from last year, but a piece of feedback last year was. Fantastic job with the conversation and helping people with o and m issues and giving us things we can take back and actually integrate into our operations right away. But then a week or two or three weeks after the event, we had those things, but the conversation stopped. So this year we’re putting some things in place. One of ’em being like Rosemary was talking about the private operator forum. Where there’s a couple of operators that have actually taken the reins with this thing and they wanna put this, they wanna make this group a thing where they’re want to have quarterly meetings and they want to continue this conversation and knowledge share and boost that whole Australian market in the wind [00:28:00]side up right? Rising waters floats all boats, and we’re gonna really take that to the next level this year at Allen Hall: WMA down in Melbourne. That’s why I need a register now at Wilma 2020 six.com because the industry needs solutions. Speeches. That wraps up another episode of the Uptime Wind Energy Podcast. Thanks for joining us. We appreciate all the feedback and support we received from the wind industry. If today’s discussion sparked any questions or ideas, we’d love to hear from you. Just reach out to us on LinkedIn and please don’t forget to subscribe so you’d never miss an episode. For Joel Rosemary and Yolanda, I’m Allen Hall. We’ll catch you next week on the Uptime Wind Energy Podcast.

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In this episode, Sean Shields, Director of Marketing for SBCA, is joined by Jay Jones, P.E., Executive Director of the Truss Plate Institute (TPI). They discuss two industry standards TPI has started to develop, and Jay provides insight into how they may impact the structural building component industry.

Milk and Emma are joined by Grim Scenarios and TPI stream regular Ember to guess the evil team as they discuss the Alsaahir.Join our community on Discord! https://discord.gg/grimscenarios Check out the Grim Scenarios Twitch Channel! https://twitch.tv/grimscenarios Check out our socials by clicking below! https://linktr.ee/grimscenarios

Christian Apologist, Lisa Fields, joins TPi for a deep dive into the hard questions of faith from her book When Faith Disappoints.

Christian Apologist, Lisa Fields, joins TPi for a deep dive into the hard questions of faith from her book When Faith Disappoints.

Christian Apologist, Lisa Fields, joins TPi for a deep dive into the hard questions of faith from her book When Faith Disappoints.

Allen, Joel, and Yolanda share their annual Thanksgiving reflections on a year of major changes in wind energy. They discuss industry collaboration, the offshore wind reset, and upcoming changes in 2026. Thanks to all of our listeners from the Uptime team! Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us! Welcome to Uptime Spotlight, shining Light on Wind Energy’s brightest innovators. This is the Progress Powering Tomorrow. Allen Hall: Welcome to the Uptime Wind Energy Podcast. I’m your host, Alan Hall in the Queen city of Charlotte, North Carolina. Joel Saxon’s up in Wisconsin, and Yolanda Padron is down in Texas, and this is our yearly Thanksgiving edition. Thanks for joining us and, and on this episode we always like to look back at the year and, uh, say all we’re thankful for. We’ve had a number of podcast guests on more than 50, I think total by the time we get to conferences and, uh, all the different places we’ve been over the past year. Joel, it does seem like it’s been a really interesting year. We’ve been able to watch. The changes in the wind industry this year via the eyes of [00:01:00]others. Joel Saxum: Yeah. One of the things that’s really interesting to me when we have guests on is that we have them from a variety of parts of the wind industry sector. So we have ISPs, you know, people running things out in the field, making stuff happen. We’ve got high level, you know, like we have this, some CEOs on from different, uh, people that are really innovative and trying to get floating winged out there. They have like on, we had choreo generation on, so we, so we have all different spectrums of left, right center, Europe, well us, you name it. Uh, new innovative technology. PhD smart people, uh, doing things. Um, also, it’s just a, it’s just a gamut, right? So we get to learn from everybody who has a different kind of view on what’s Allen Hall: happening. Yolanda, you’ve been in the midst of all this and have gone through a big transition joining us at Weather Guard, lightning Tech, and we’re very thankful for that, for sure. But over the last year, you’ve seen a lot of changes too, ’cause you’ve been in the seat of a blade engineer and a [00:02:00] large operator. What do you think? Yolanda Padron: Uh, something I am really thankful for this year is, and I think a lot of owner operators are, is just knowing what’s coming up. So there was a lot of chaos in the beginning before the big beautiful bill where everyone theorized on a lot of items. Um, and, and you were just kind of stuck in the middle of the court not really knowing which direction to go in, but. Now we’re all thankful for, for what? It’s brought for the fact that everyone seems to be contributing a lot more, and at least we all know what direction we’re heading in or what the, what the rules are, the of the game are, so we can move accordingly. Joel Saxum: Yeah. I got some clarity. Right. I think that, but that happened as well, like when we had the IRA bill come in. Three, four years ago, it was the same thing. It was like, well, this bill’s here, and then you read through it. I mean, this was a little bit opposite, right? ’cause it was like, oh, these are all [00:03:00] great things. Right? Um, but there wasn’t clarity on it for like, what, six months until they finalized some of the. Longer on some of the, some of the tax bills and what it would actually mean for the industry and those kind of things. So yeah, sorting this stuff out and what you’ve seen, you’re a hundred percent correct, Yolanda, like all the people we talked to around the industry. Again, specifically in the US because this affects the us but I guess, let me ca caveat that it does affect the global supply chain, not, you know what I mean? Because it’s, it’s not just the, the US that it affects because of the consumption here. So, but what we have heard and seen from people is clarity, right? And we’re seeing a lot of people starting to shift strategy a little bit. Right now, especially we’re in budgeting season for next year, shifting strategy a little bit to actually get in front of, uh, I know like specifically blades, some people are boosting their blades, budgets, um, to get in front of the damages because now we have a, a new reality of how we need to operate our wind farms. The offshore Allen Hall: shift in the United States has really had a [00:04:00] dramatic impact. On the rest of the world. That was, uh, a little unexpected in the sense that the ramifications of it were broader, uh, just because of so much money going into offshore projects. As soon as they get pulled or canceled, you’ve have billions of dollars on the table at that point. It really affects or seen it. Ecuador seen it. Anybody involved in offshore wind has been deeply affected. Siemens has seen it. GE has clearly seen it. Uh, that has. In my opinion, probably been the, the biggest impact. Not so much the big beautiful bill thing, but the, uh, ongoing effort to pull permits or to put stoppages on, on offshore wind has really done the industry some harm. And honestly, Joel, I’m not sure that’s over. I think there’s still probably another year of the chaos there. Uh, whether that will get settled in the courts or where it’s gonna get settled at. I, I still don’t know. [00:05:00] But you’ve seen a big shift in the industry over in Europe too. You see some changes in offshore wind. It’s not just the US that’s looking at it differently. Yeah. Globally. I think offshore wind Joel Saxum: right now is in a reset mode where we, we went, go, go, go, go, go get as much in the water as we can for a while. And this is, I’m, I’m talking globally. Um. And then, and now we’re learning some lessons, right? So there’s some commercial lessons. There’s a lot of technical lessons that we’re learning about how this industry works, right? The interesting part of that, the, the on or the offshore wind play here in the States. Here’s some numbers for it, right? So. It onshore wind. In the states, there’s about 160 gigawatts, plus or minus of, uh, deployed production out running, running, gunning, working, spinning all day long. Um, and if you look at the offshore wind play in planned or under development, there’s 66 gigawatts of offshore wind, like it’s sitting there, right? And of that 66, about 12 of them are permitted. Like [00:06:00] are ready to go, but we’re still only at a couple hundred megawatts in the water actually producing. Right. And, and I do want, say, this is what I wanna say. This is, I, I think that we’re taking a reset, we’re learning some things, but from, from my network, I’m seeing, I got a, a whole stack of pictures yesterday from, um, coastal offshore, Virginia Wind. They’ve, and they looked promising. They looked great. It was like a, it was a marshaling facility. There was nelle stacked up, there was transition pieces ready to go. Like, so the industry is still moving forward. It’s just we’re we need to reset our feet, um, and, and then take a couple steps forward instead of those, the couple steps back, Allen Hall: uh, and the industry itself, and then the employees have been dramatically reduced. So there’s been a lot of people who we’ve known over the past year, they’ve been impacted by this. That are working in different positions, look or in different industries right now, uh, waiting for the wind industry to kind of settle itself [00:07:00] out to, to figure out what the next steps are That has been. Horrible, in my opinion. Uh, uh because you’re losing so much talent, obviously. And when you, when you talk to the people in the wind industry, there’s like, oh, there’s a little bit of fat and we can always cut the fat. Yeah, yeah, yeah. But we’re, we’re down to the bone. We’re cutting muscle right now. We’re into some bones, some structure. That is not what I anticipated to happen. But you do see the management of these companies being. Uh, very aggressive at the minute. Siemens is very aggressive. Vestas is very aggressive about their product line and, and getting availability way up. GE has made huge changes, pretty much closing LM wind power, uh, and uh, some things happening in South Carolina that we probably people don’t know about yet, but there’s so much happening behind these scenes that’s negative and we have to acknowledge it. It’s not great. I worry about everybody that has been [00:08:00] laid off or is, is knows their job is gonna go away at the end of the year. I struggle with it all the time and I, I think a lot in the wind industry do. But there’s not a lot to do about it besides say, Hey, uh, we’ve gone through this a couple of times. Wind has never been bountiful for 50 years. It’s bountiful for about 10, then it’s down for about five and it comes back for 10. It’s that ebb and flow, but you just hate to be involved with that. It’s particularly engineering ’cause this industry needs engineering right Joel Saxum: now. All of us on this podcast here have been affected by ups and downs in the industry at some point in time in our life, in in major ways. I guess one of the positive things I have seen that from an operator standpoint, and not as much at the latter half of this year, but at the beginning half of this year is when some of these OEMs were making cuts. There was a lot of people that landed at operators and asset owners that were huge assets to them. They walked in the door with. Reams of knowledge about how, [00:09:00] you know, how a ge turbine works or how the back office process of this works and they’re able to help these operators. So some of that is good. Um, you get some people spread around in the industry and some knowledge bases spread around. But man, it’s really hard to watch. Um, your friends, your colleagues, even people that you, that you don’t know personally just pop up on LinkedIn, um, or wherever. And. That they’ve, they’re, they’re looking for work again. Allen Hall: Yolanda, how do you look at 2026 then, knowing what’s just happened in 2025? Is there some hope coming? Is there a rainbow in the future? Yolanda Padron: I think there’s a rainbow in the future. You know, I, I think a lot of the decisions were made months ago before a lot of people realized that the invaluable, how invaluable some of that information in people’s heads is. Uh, particularly, I mean, I know we’ve all talked about the fact that we’re all engineers and so we, we have a bit of bias that way. Right. But, uh, [00:10:00] just all of the knowledge that comes in from the field, from looking at those assets, from talking to other engineers now, which is what, what we’re seeing more and more of, uh, I think, I mean. So there’s going to have to be innovation, right? Because of how, how lean everybody is and, and there’s going to have to be a lot more collaboration. So hopefully there, there should be some, some good news coming to people. I think we, we need it a little Joel Saxum: bit. You know, to, to, to pair on with what you’re saying there, Yolanda, like, this is a time right now for innovation and collaboration. Collaboration, right. I want to touch on that word because that is something that we, we talk about all the time on the podcast, but you also see the broader industry talking about it since I’ve been in it, right. Since I think I came in the wind industry, like 2019. Um, you hear a lot of, uh, collaboration, collaboration, collaboration. But those were like, they were [00:11:00] fun, like hot air words, like oh yeah, but then nobody’s really doing anything. Um, but I think that we will start to see more of that. Alan, you and I say this a lot, like at the end of the day, once, once the turbines are in the ground as an asset owner, you guys are not competing anymore. There’s no competition. You’re competing for, for green space when you’re trying to get the best wind resource. I get that. Um, but I mean, in the central part of the United States, you’re not really competing. There’s a lot of hills out there to stick a turbine on. Uh, but once they’re, once they are spinning. Everybody’s in the same boat. We just wanna keep these things up. We wanna keep the grid energized, we wanna do well for renewable energy and, um, that collaboration piece, I, I, I would like to see more and more of that in 2026. And I know from, from our chairs here, we will continue to push on that as well. Yolanda Padron: Yeah. And just so many different operators, I mean sure they can see themselves as, as being one against the other. Right. But. When you talk [00:12:00] to these people and it, I think people in the past, they’ve made the, the mistake of just being a little bit siloed. And so if you’re just looking at your assets and you’re just looking at what your OEM is telling you of, oh, these problems are new and unique to you, which I’m sure a lot of people hearing us have heard that. You can stay just kind of in that zone of, oh no, I, I have this big problem that there’s no other way to solve it except for what some people are telling me or not telling me, and I’m just going to have to pay so much money to get it done and take the losses from generation. Uh, but there’s so many people in the industry that have a hundred percent seen the issues you’ve seen. Right. So it’s, it’s really, really important to just talk to these people, you know? I mean, just. Just have a, a simple conversation. And I think some of the issue might be that some people don’t know [00:13:00] how to get that conversation started, right? And so just, just reach out to people, someone in the same position as you go to Wilma, you know, just talk to the person next to you. Joel Saxum: I mean, like I said about visibility, like we’re here too. Like the, the three of us are sitting here. We’ve got our. We’re always monitoring LinkedIn and our emails like if you, if you have a problem, we, we had one this morning where I, Alan, you got a message from someone, I got a message from someone that was like, Hey, we’ve got this root bolt issue. Can you help us with it? We’re like, Hey, we know two companies that can, let’s just connect them up and, and make that conversation happen. So we’re happy to do the same thing. Um, if, if you have an issue, we have a, a Allen Hall: broad reach and use us as Joel has mentioned a thousand times on the podcast. If you don’t know where a technology lies or where a person is that you need to reach out to, you need to go to the Uptime podcast. You can search it on YouTube and probably get an answer, or just reach us on LinkedIn. We’re all willing [00:14:00] to give you advice or help or get you in the right direction. We’ve done it all year and we’ve done it for years. Not everybody takes us up on that opportunity. It’s free. We’re just trying to make this world just a tiny bit better. Yolanda Padron: No one has the time or the money right now to reinvent the wheel, right? So I mean, it just doesn’t make sense to not collaborate. Allen Hall: I think we should discuss what will happen to all the people that have left wind this past year willingly or unwillingly. And what that means for the industry, in my opinion. Now there is more knowledge than ever walking on the streets and probably doesn’t have an NDA to tie them up. ’cause it’s been long enough that the industry hasn’t tapped into, the operators have not grabbed hold of the people who designed the blade that, uh, manufactured the blade that looked at. The LEP solutions that looked at all the bearings and all the different gear boxes that they evaluated and were involved in the testing of those [00:15:00] things. Those people are available right now and a little bit of LinkedIn shopping would give you access to, uh, really invaluable wealth of information that will make your operations work better, and you may have to be willing to pay for it a little bit. But to tap into it would save you months and months and months of time and effort and, uh, limit having to add to your engineering staff because they will work as consultants. It does seem like there’s an opportunity that maybe the operators haven’t really thought about all that much because they haven’t seen too much of it happening yet. Occasionally see the, the wise old operators being smart about this, they’ve been through these loops before and are taking advantage of it. Don’t you see? That’s like 2026 is is is the year of the consultant. I a hundred percent Joel Saxum: agree with you, Alan. Um, I saw a TEDx talk oh, years ago actually now. Uh, but it was about the, what the future of worker looks like, the future of [00:16:00] work and the future of work at that time for those people giving that TEDx talk was workers on tap. Basically consultants, right? Because you have subject matter experts that are really good at this one thing, and instead of just being that one thing good for just this one company, they’re pulling back and going, I can do this, this, this, and this for all these companies. So we have, um, we have a lot of those in the network and we’re starting to see more and more of them pop up. Um, at the same time, I think I’ve seen a couple of groups of them pop up where, uh, you didn’t have. When I look at ISPs, um, I’m always kind of like, oh man, they could do this a little bit better. They could do this a little bit better. And I, I recently heard of an ISP popping up that was a bunch of these like consultant types that got together and we’re like, you know what? We have all this knowledge of all these things. Why not make this a, a company that we can all benefit from? Um, and we can change the way some things are done in the wind industry and do it a little bit better, uh, a little bit more efficiently. Allen Hall: Does that change the way we think about technicians also. [00:17:00] We had the Danish Wind Power Academy on the podcast a couple of months ago talking about training and specific training for technicians and engineers for that matter on the turbines that are at their sites and how much productivity gain they’re getting from that. And we’ve recently talked about how do I get a 10% improvement? Where does that 10% lie? Where is that? And a lot of times we get offered the 1%, the half a percent improvement, the 10% lies in the people. If you know who to ask and you get your people spooled upright, you can make multiple percentage point changes in your operation, which improves your revenue. But I think that’s been left on the table for a long time because we’ve been in build, build, build. And now that we’re into operate, operate, operate. Do you see that shift happening? Do you see O operators starting to think about that a little bit that maybe I should train up my technicians on this? Intercon turbine Joel Saxum: that they’re not familiar with. In my [00:18:00] opinion, I think that’s gonna be a 2027 reality. Because we’re seeing this, your, your right now what? You know we have this cliff coming where we’re gonna see in, in the face of the current regulations in the US where you’re gonna see the. Development kind of slow, big time. And when that happens, then you can see the focus start to switch onto the operating assets. So I don’t think that’s a 26 thing, I think that’s a 27 thing. But the smart operators, I believe would be trying to take some of that, take control of some of that stuff. Right. Well we see this with the people that we know that do things well. Uh, the CRS team at EDF with their third party services and sala, Ken Lee, Yale, Matta, and those guys over there. They’re doing a, I don’t wanna lose any other names here, Trevor Engel. Like, I wanna make sure I get a Tyler. They’re all superstars, they’re fantastic. But what they’re doing is, is is they’re taking, they’re seeing what the future looks like and they’re taking control. I think you’ll see, you’ll, you’ll see an optimization. Um, companies that are investing in their technicians to train [00:19:00] them are going to start getting a lion’s share of the work, because this time of, oh, warm bodies, I think is, is they’re still gonna be there, right? But I think that that’s gonna hopefully become less and less. Allen Hall: Yolanda, I want to focus on the OEM in 2025, late 2025, and moving into 2026 and how they deal with the developers. Are you thinking that they’re going to basically keep the same model where a lot of developers are, uh, picking up the full service agreements or not being offered a turbine without a full service agreement? Will that continue or do you see operators realize that they probably don’t need the OEM and the historical model has been OEMs manufacture products and provide manuals in the operations people and developers read the manuals and run the turbine and only call over to the OEM when they need really severe help. Which way are we gonna go? Yolanda Padron: I think on the short term, it’ll still be very FSA focused, in my opinion, [00:20:00] mainly because a lot of these operators didn’t necessarily build out their teams, or didn’t have the, the business case wasn’t there, the business model wasn’t there. Right. To build out their internal teams to be able to, to do the maintenance on these wind turbines as much as an OEM does. Uh. However, I do think that now, as opposed to 10 years ago when some of these contracts started, they have noticed that there’s, there’s so many big things that the OEN missed or, or just, you know, worked around, uh, that really has affected the lifetime of some of these blades, some of these turbines. So I think the shift is definitely happening. Uh, you mentioned it with EDF NextEra, how, how they’re at a perfect spot to already be there. Uh, but I think at least in the US for some of these operators that are a lot [00:21:00] more FSA focused, the shift might take a couple of years, but it’s, it surely seems to be moving in that direction. Joel Saxum: So here’s a question for you, Ilana, on that, on that same line of thinking. If we, regulation wise, are looking to see a slow down in development, that would mean to me that the OEMs are gonna be clamoring for sales over the next few years. Does that give more power to the operators that are actually gonna be buying turbines in their TSA negotiations? Yolanda Padron: I think it should, right. I mean, the. If they, if they still want to continue developing some of these, it and everyone is fighting, you know, all of these big OEMs are fighting for the same contracts. There’s, there’s a lot more kind of purchase power there from, from the operators to be able [00:22:00] to, to, you know, negotiate some of these deals better. Stay away from the cookie cutter. TSA. That the OEMs might supply that are very, very shifted towards the OEM mindset. Joel Saxum: You, you’re, you’re spot on there. And if I was a developer right now, I’d be watching quarterly reports and 10 k filings and stuff at these operators to make sure, or to see when to pounce on a, on a, a turbine order, because I would wait to see when in, in the past it’s been like, Hey, if we’re, it doesn’t matter who you are, OEM, it has been like we’re at capacity and we have. Demand coming in. So we can pick and choose. Like if you don’t buy these turbines on our contract, we’ll just go to the next guy in line. They’ll buy ’em. But now if the freeboard between manufacturing and demand starts to keep having a larger delta, well then the operators will be able to go, well, if you don’t sell it to me, you’re not, there isn’t another guy behind me. So now you have to bend to what I want. And all the [00:23:00] lessons that I’ve learned in my TSA negotiations over the last 20 years. Yolanda Padron: Something relating to Alan’s point earlier, something that I think would be really, really interesting to see would be some of these developers and EPC teams looking towards some of those contract external contractor consultants that have been in the field that know exactly where the issues lie. To be able to turn that information into something valuable for an operating project that. Now we know has to operate as long as possible, Allen Hall: right? Without repower, I think two things need to happen simultaneously, and we will see if they’ll play out this way. OEMs need to focus on the quality of the product being delivered, and that will sustain a 20 year lifetime with minimal maintenance. Operators need to be more informed about how a turbine actually operates and the details of that technology so they can manage it themselves. Those two things. Are [00:24:00] almost inevitable in every industry. You see the same thing play out. There’s only two airplane companies, right? There’s Boeing and Airbus. They’re in the automobile world. There’s, it gets fewer and fewer every year until there’s a new technology leap. Wind is not gonna be any different, and I hope that happens. OEMs can make a really quality product. The question is, they’ve been so busy developing. The next turbine, the next turbine, the next turbine. That have they lost the magic of making a very, very reliable turbine? They’ll tell you, no, we know how to do it. Uh, but as Rosemary has pointed out numerous times, when you lose all your engineering talent, it gets hard to make that turbine very robust and resilient. That’s gonna be the challenge. And if the OEMs are focused on. TSAs it should be, but the full service agreements and taking care of that and managing all the people that are involved with that, it just sucks the life out of the OEMs, I think, in terms of offering the next great product. [00:25:00]Someone showed me the next GE Joel Saxum: one five. Oh, I would love to see it. Do you believe that? Okay, so I, we’ll shift gears from oe, uh, wind turbine OEMs to blade manufacturers. LM closing down shops, losing jobs, uh, TPI bankruptcy, uh, 99% of their market cap eroding in a year is there and, and, and the want for higher quality, better blades that are gonna last. Is there space, do you think there’s space for a, a blade manufacturer to come out of nowhere, or is there just someone’s gonna have to scoop some of these factories up and and optimize them, or what do you think the future looks like for blade Allen Hall: manufacturers? The future is gonna be vertically integrated, and you see it in different industries at the moment where they’re bringing in technology or manufacturing that would have typically been outsourced in the two thousands. They’re bringing it back underneath their roofs. They’re buying those companies that were vendors to them for years. The reason they’re doing that is they [00:26:00] can remove all the operational overhead. And minimize their cost to manufacture that product. But at the same time, they can have really direct oversight of the quality. And as we have seen in other industries, when you outsource a critical component, be it gear, boxes, bearings, blades, fall into that category, those are the critical items for any wind turbine. When you outsource those items and rely upon, uh, uh, companies that you don’t have direct control over, or not watching day to day, it can go awry. Management knows it, and at some point they’re willing to accept that risk. They know that the cost is right. I gotta build this, uh, turbine. I know I’m working three generations ahead, so it’s okay, I’ll, I’ll live with this for the time being, but at some point, all the staff in the OEMs needs to know what the quality component is. Is it being delivered on time? Do I have issues out in the field with it? Do I keep this supply chain? Do I, and do I build this in house blades? [00:27:00] I think eventually. Like they were years ago, were built in-house. Uh, but as they grew too quickly, I think everybody will agree to that Joel Saxum: capacity. Yeah, Allen Hall: right. They started grabbing other factories that they didn’t know a lot about, but it gave them capacity and ability able to make sales. Now they’re living with the repercussions of that. I think Siemens is the obvious one, but they’re not the only one. GE has lived through something very similar, so, uh, vertical integration is going to be the future. Before we wrap the episode, we should talk about what we’re thankful for for this year, 2025. So much has happened. We were in Australia in February, weather guard moved in April to North Carolina. We moved houses and people, and the whole organization moved from Massachusetts and North Carolina. Joel got married. Yolanda got married. We’ve been all over the world, honestly. Uh, we’ve traveled a great deal and we’re thankful for everybody that we’ve met this year, and that’s one of the pleasures of doing this podcast is I just [00:28:00] get to meet new people that are very interesting, uh, and, uh. Talk, like, what’s going on? What are you thinking? What’s happening? It just feels like we’re all connected in this weird way via this podcast, and I, I, I’m really thankful for that and my always were saying Thanks. I will go through my list. I’m thankful for my mom. I’m thankful for my wife Valerie, who pretty much runs Weather Guard, lightning Tech, and Claire, who is my daughter who does the podcast and has been the producer, she graduated this year from Boston College. With honors that happened this year. So I’m very thankful that she was able to do that. And my son Adam, who’s earning his doctorate degree out in San Diego, always thankful for him ’cause he’s a tremendous help to us. And on the engineering side, I’m thankful to everybody we have with us this year. We brought Yolanda on, so we’re obviously thankful that, uh, she was able to join us. Of course, Joel Joel’s been here a couple of years now and helping us on sales and talking to everybody [00:29:00] in the world. We’re super thankful for Joel and one of the people we don’t tell behind the who’s behind the scenes on our side is our, our, uh, manufacturing person, Tammy, um, and Leslie. They have done a tremendous job for us over the years. They don’t get a lot of accolades on the podcast, but people who receive our strike tape product, they have touched. Tammy and Leslie have touched, uh, Tammy moved down with us to North Carolina and we’re extremely grateful that she was able to do that. Another person behind the scenes for us is Diane stressing. She does her uptime tech news newsletter. So the high quality content doesn’t come from me, it comes from Diane ’cause she can write and she’s an excellent newsletter writer. She helps with a ton of our content. She’s behind the scenes and there’s a lot of people at, at, uh, weather, car Lightning Tech that are kind of behind the scenes. You don’t get to see all the time, but when you do get an email about uptime, tech news is coming from Diane. So we’re super grateful for her. We’ve been blessed this year. We [00:30:00] really have. We’ve brought on a lot of new friends and, uh, podcast has grown. Everything has done well this year, so we’re super happy. Joel, what are you thankful for? Joel Saxum: I would start it the same way. Uh, my, my new. Sorry, my new wife as of last May, Kayla, she is the, the glue that holds me together, uh, in our household together, in this kind of crazy world that we’re in, of the ups and downs and the travels and the moving and grooving. Um, she keeps, she keeps me grounded. She keeps our family grounded. So, um, uh, I, I don’t think I can thank her enough. Uh, and you know, with that being said, we are always traveling, right? We’re, we’re here, we’re there. We’re. All around the world, and I am thankful for that. Um, I’m thankful for the people that we meet while we get to travel, the cultures and the, the experiences and the people that want to share with us and the knowledge gained from, uh, the conversations, whether it be in a conference room or over a beer.[00:31:00] Um, uh, the, the people that we have, uh, grown into this uptime network and, um, I know like my personal network from the past and of course everybody that will come in the future. I think that’s where, you know, the, the, if you know me, you know that I’m very much an extrovert, uh, talking with people and, and getting those conversations gives me energy. Um, and I like to give that back as much as I can. So the, all of the people that I’ve run into over the, over the past year that have allowed me to monologue at them. Thank you. Sorry. Apologies. Um, but, uh, yeah, I mean, it’s, it’s hard to. I think this, this is a, this is always why Thanksgiving is like a six hour long thing in the United States, eight hour long thing. You have dinner at three and you hang out with your friends and family until 10, 11:00 PM because it gives you time to reflect on, um, the things that are awesome in life. Right? And we get bogged down sometimes in our, you know, in the United States. We are [00:32:00] work, work, work, work works. First kind of society. It’s the culture here. So we get bogged down sometimes in the, you know, we’re in the wind industry right now and it’s not always. Um, you know, roses and sunshine, uh, but ha having those other people around that are kind of like in the trenches with you, that’s really one thing I’m thankful for. ’cause it, it’s, it’s bright spots, right? I love getting the random phone calls throughout the day of someone sharing a piece of information or just asking how you’re doing or connecting like that. So, um, that, that would be the, the thing I’m most thankful for, and it puts it into perspective here, to a me up home in Wisconsin, or my, my not home. Home is Austin, but my original hometown of northern Wisconsin, and I’ve got to see. Quite a few of my, my high school buddies are, yeah, elementary school buddies even for that matter over the last couple weeks. And, um, that really always brings me back to, to a bit of grounding and puts, puts life in perspective. So, uh, I’m really appreciative for that as well. Yolanda, newly married as well, and welcome to the club. Yolanda Padron: Thank [00:33:00] you. Yeah, I’m really, really thankful for, for Manuel, my husband, uh, really. Really happy for our new little family. Uh, really thankful for my sisters, Yvonne and Carla and my parents. Um, my friends who I like to think of as my chosen family, especially, you know, here in Austin and then, and in El Paso. Uh, really, really thankful for, for the extended family and for, for weather card for, for this lovely opportunity to just. Learned so much. I know it’s only been almost two months, but I’ve, I’ve just learned so much of just talking to everybody in the industry and learning so much about what’s going on everywhere and just getting this, this whole new outlook on, on what the future holds and, and what exactly has happened and technology wise, and I’m thankful for [00:34:00] this year and how. How exciting everything’s going to be. So, yeah, thankful for you guys. Allen Hall: And we don’t wanna forget Rosemary and Phil, uh, they’ve been a big part of 2025. They’ve worked really hard behind the scenes and, uh, I appreciate everything they’ve done for the podcast and everything they’re doing for. Us as a company and us as people. So big shout out to Rosemary and Phil. So that’s our Thanksgiving episode. Appreciate everybody that’s joined us and has enjoyed the podcast in 2025 and will continue to in 2026. The years coming to an end. I know the Christmas holidays are upon us. I hope everybody enjoys themselves. Spend a little bit of time with your family. And with your coworkers and take a little bit of time. It’s been a pretty rough year. You’re gonna need it. And that wraps up another episode of the Uptime Winner Energy podcast, and we appreciate you joining us here today. If anything has triggered an idea or a question. As we’ve mentioned, reach out to us on LinkedIn. That’s the easiest way to get ahold of [00:35:00] us and don’t ever forget to subscribe. So click that little subscribe button so you don’t miss any of the Future Uptime podcast episodes, and we’ll catch you here next week on the Uptime Wind Energy Podcast.

O episódio 343° do TPI contou com a presença de Diego Favarin, auxiliar técnico da comissão de António Oliveira. Neste episódio, discutimos sobre as diferentes demandas de um auxiliar técnico, a importância do treinador de bola parada nas comissões técnicas, o conceito do que são situações de  bola parada durante os jogos, o nível alto de execução de bolas paradas nesta edição da Série B, a influência do basquete e do futebol americano no futebol e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

GS#449 August 12, 2014 Long time Golf Smarter Member Michael Hamel plays at least 36 holes everyday...in Ontario Canada! So far this year, he's logged 237 rounds, and he's not slowing down. In only 6 years of playing golf, Michael has brought himself down to a 3 handicap...although he'll say "up" to a 3 since he was in the 2s. He's also been a Personal Trainer for 25 years. When he fell in love with golf, he went for his TPI (Titleist Performance Institute) Certification so that he could become a better golfer, and to help others to be in better golf shape.This episode is brought to you by Warby Parker with over 300+ locations to help you find your next pair of glasses. You can also head over to warbypaker.com/golfsmarter right now to try on any pair virtually!This episode is sponsored by Indeed. Please visit indeed.com/GOLFSMARTER and get a $75 SPONSORED JOB CREDIT. Terms and conditions apply.This episode is sponsored by HIMS. Start  your free online visit today HIMS.com/golfsmarter and received personalized ED treatment options. This episode is also brought to you by Policygenius. Secure your family's future with Policygenius. Head to policygenius.com to compare free life insurance quotes from top companies and see how much you could save.If you have a question about whether or not Fred is using any of the methods, equipment or apps we've discussed, or if you'd like to share a comment about what you've heard in this or any other episode, please write because Fred will get back to you. Either write to golfsmarterpodcast@gmail.com or click on the Hey Fred button, at golfsmarter.com

Motivated by Scott's personal journey with his swing and fitness through 2025, we sit down for a great chat with Tom de Jersey. Tom is a Sydney based TPI certified physiotherapist. He talks with us about strength, range, training for golf, physical limitations to the golf swing, and how best to negotiate them. Apart from his clinical work, Tom co-hosts the Greens & Gains podcast with Lee Hunt. They focus on golf game improvement and personal improvement as well! Go give them a listen. As discussed in the pod Jon Rahm's right foot and the influence on his swing.https://www.espn.com/golf/story/_/id/31810755/jon-rahm-short-backswing-due-adjustments-being-born-club-foot And the latest Today's Golfer robot testing of golf balls – Seed models performing well!https://www.todays-golfer.com/equipment/best/golf-balls-robot-tested/ We put this podcast out with thanks to Matt Burns and his staff at Angus And Grace Go Golfing. Check their insta page and website for some of the best golf apparel on the planet. The new Australian Golf Passport cap and tee have almost sold out - grab one while you can.  And check out the latest refresh of the classic AAGGG shorts.Thanks to Dean and everyone at Seed Golf – they provide 20% off for Australian Golf Passport listeners via the code AGP at checkout. Get your hands on some premium golf balls at a super low price. Check their website for Seed merch too –  caps, gloves and other goodies available. Images related to this episode can be found on our Instagram page (@AustralianGolfPassport) and on Twitter / X (@AusGolfPassport). Images accompanied by attribution to their owners / creators.Podcast intro music - Nbhd Nick / Stop Playing With Me - Instrumental / courtesy of ⁠⁠⁠www.epidemicsound.com

Atenção senhoras e senhores ouvintes! O nosso voo acabou de decolar! E o comando desse episódio foi a integrante Beatriz Paranhos. Neste voo abordamos as notícias sobre o plano de saúde Planserv aumenta o valor da mensalidade, Salvador recebe conferência internacional sobre artivismo, projeto de lei em prol de boas convivências nas praias de Salvador é aprovado, e o projeto de lei em prol da gratuidade dos estacionamentos em Salvador está em tramitação. A nossa torre de controle, no comando de Thiago Cunha, trouxe uma dica cultura muito interessante! Neste final de semana, dia 26 de outubro, vai acontecer "O teatro de Cabo a Rabo", uma realização do teatro vila velha. O evento vai ocupar as estruturas do Museu da Arte da Bahia, na avenida sete de setembro, celebrando os 30 anos do teatro popular de Ilhéus, o TPI. A programação irá contar com workshops, oficinas e espetáculos, onde para obter mais informações basta acessa o instagram @teatrovilavelha. Os ingressos podem ser adquiridos pela plataforma Sympla! Então, aperte o play e confiram notícias!

(00:01) Teaching Golf Standards and Challenges This chapter features an engaging conversation with Brian Manzella, a renowned golf instructor who is highly ranked in both Golf Magazine's Top 100 Teachers and Golf Digest's Top 50 Teachers lists. We explore the challenges of finding a suitable golf teacher who can adapt to individual learning styles rather than enforcing a one-size-fits-all approach. Brian shares insights into the low standards in the golf teaching industry, contrasting it with other professions that require certifications. He reflects on his career choices and aspirations, and the conversation highlights the importance of having experienced and qualified instructors in golf. Brian's journey and thoughts offer a valuable perspective on the state of golf instruction today. (11:26) Standardizing Golf Instruction This chapter addresses the challenges and opportunities in the world of golf instruction, particularly focusing on biomechanics and communication within the PGA of America. I explore the contrasting methodologies between various biomechanics schools, such as Jacobs 3D and TPI, and question the potential for a unified approach. The conversation also critiques the communication skills in teaching, suggesting that studying successful educators could be more beneficial. I propose two actionable solutions to enhance teaching standards: first, requiring PGA instructors to upload a 30-minute lesson annually, which could foster transparency and inspire improvement; and second, initiating monthly Zoom meetings led by thought leaders, providing a platform for sharing knowledge and techniques. However, I acknowledge potential resistance due to fears of embarrassment and reluctance to showcase one's methods publicly. (19:16) Selecting the Right Golf Instructor This chapter explores how to cultivate emotional attachment to football games when you don't naturally support local teams, such as the Cincinnati Bengals or the Cleveland Browns. By placing bets on platforms like FanDuel, you can create a rooting interest, enhancing your enjoyment and engagement with the games. We also discuss the challenges and politics within the PGA of America regarding innovation and the reluctance to embrace new teaching methodologies due to potential backlash from established professionals. Finally, we address the confusion some might face when seeking golf lessons and how to find the right instructor to improve their game. (28:47) Establishing Standards in Golf Instruction This chapter explores the challenge of identifying great golf teachers and critiques the current system that often relies on reputation and word of mouth. We discuss the flaws in how professional golfers select instructors, noting that the same few teachers are recycled without necessarily being the best. There's a call for a more structured and standardized system to evaluate golf teachers, much like other professions have, to ensure quality instruction. We suggest that someone with a comprehensive understanding of golf instruction, like Brian, could lead an organization to establish fair and effective criteria for rating teachers. The conversation also touches on the need for better communication skills among instructors to improve how they convey their knowledge to students. (38:29) The Golf Instruction Industry Issues This chapter explores the cyclical nature of golf teaching trends and the resurgence of topics like the golfing machine and O'Grady's methodologies on social media platforms. We reflect on how these discussions have been extensively debated in forums and Facebook groups over the years, and yet continue to re-emerge with new generations. The idea of creating an archival system to document these recurring trends is discussed, emphasizing the need for a structured approach to preserving golf teaching history. Additionally, we analyze the influence of tour instructors and the fluctuation of their perceived credibility, noting that many gain prominence without having developed players from the ground up. The conversation also touches on the lack of dedicated media coverage for the golf teaching industry, suggesting that more consistent scrutiny could address ongoing issues and misconceptions. (50:08) The Future of Golf Instruction This chapter focuses on the future of the golf teaching business and how it can be improved. We explore the potential for customization in golf instruction, emphasizing the importance of tailoring lessons to individual players' needs. The conversation highlights the potential for increased visibility of personalized coaching through online platforms, allowing coaches to showcase their work with specific players. While AI is acknowledged as a transformative force, the discussion shifts to the shortcomings of golf telecasts, particularly the lackluster performance of current announcers. We discuss the idea of offering alternative commentary options, allowing viewers to choose more engaging and knowledgeable voices to enhance the viewing experience. The overall sentiment is that both golf instruction and telecasts have room for improvement, and there is hope for more personalized and entertaining approaches in the future. (54:42) Celebrating Golf Music Memories This chapter is all about having a good time with a nod to musical nostalgia and a touch of humor. We explore the joys of appreciating pickles and the fun of picking who you love, alongside a light-hearted mention of Dan Hicks and the Hot Licks, specifically their classic song "How Can I Miss You When You Won't Go Away." It's a mix of laughter and fond memories as we share this entertaining moment. Ryan and I have a great exchange, highlighting the fun and camaraderie of the group, while also playfully acknowledging the presence of cynicism. It's a heartfelt thanks to Ryan for joining us, as we wrap up another engaging session on Those Weekend Golf Guys. #GolfInstruction, #BrianManzella, #TeachingStandards, #PGAofAmerica, #Biomechanics, #Communication, #AdaptiveTeaching, #IndividualLearningStyles, #Certification, #InstructionalStandards, #AI, #PersonalizedCoaching, #GolfTelecasts, #MusicalNostalgia, #Camaraderie, #GolfCommunity, #GolfIndustry, #TeachingTrends, #GolfTeachers, #GolfMediaCoverage Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

O episódio 342° do TPI contou com a presença de Fernando Lazaro, coordenador de análise e desenvolvimento do Grêmio. Neste episódio, contamos a trajetória de Fernando Lazaro como analista de desempenho, o começo da análise de desempenho no futebol brasileiro, a expansão do departamento de análise do Corinthians em 2009, a utilização de novas terminologias para se referir sobre aspectos do jogo e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

Read more insights from Morgan Stanley.----- Transcript ----- Political developments in Japan and France have brought more volatility to sovereign debt markets. Our Global Economist Arunima Sinha highlights the risks investors need to watch out for.Arunima Sinha: Welcome to Thoughts on the Market. I'm Arunima Sinha, from Morgan Stanley's Global and U.S. Economics teams.Today, I'm going to talk about sovereign debt outlooks and elections around the world.It's Wednesday, October 15th at 10am in New York.Last week we wrote about the deterioration of sovereign debt and fiscal outlooks; and right on cue, real life served up a scenario. Elections in Japan and another political upheaval in France drove a reaction in long-end interest rates with fiscal outlooks becoming part of the political narrative. Though markets have largely stabilized now, the volatility should keep the topic of debt and fiscal outlooks on stage.In Japan, the ruling Liberal Democratic Party, the LDP, elected Sanae Takaichi as its new leader in something of a surprise to markets. Takaichi's election sets the stage for the first female prime minister of Japan since the cabinet system was established in 1885.That outcome is not assured, however. And recent news suggests that the final decision is a few weeks away. The landmark movement in Japanese post-war politics, in some ways further solidifies the changing tides in the Japanese political economy. Markets have positioned for Takaichi to further the reflation trade in Japan and further support the nominal growth revival.The Japanese curve twists steepened sharply as Tokyo markets reopened with the long-end selling off by 14 basis points amid intensifying fiscal concerns and the unwinding of pre-election flattener positions. Specifically, expectations appear to be aligning for a more activist fiscal agenda – relief measures against inflation, bolstered investment in economic security and supply chains, and stepped-up commitments to food security.Our strategists expect that sectors poised to benefit will include high tech exporters, defense and security names, and infrastructure and energy firms, as capital is likely to rotate towards these areas. Though, as our economists cautioned, the lack of a clear legislative maturity may hamper efforts for outright reorientation of fiscal policy.Meanwhile, we expect the implications for monetary policy to be limited. Our reading is that Taikaichi Sanae is not strongly opposed to Bank of Japan Governor Ueda's cautious stance reducing expectations for near term hikes. But we also reiterate that a hike late this year remains a possibility, particularly as the yen weakens.Economically, our baseline call has been supported by the election outcome given we did not expect the BoJ to raise rates in the near future. Indeed, market expectations of an increase in interest rates have been priced out for the next meeting.France is the other economy that saw long-end rates react to political shifts since we published our debt sustainability analysis. PM Lecornu's resignation was far quicker than markets expected, especially given the fact that he was only in office for a matter of weeks.A clear majority in the current parliament remains elusive pointing to continued gridlock, and ultimately snap elections remain a possibility for the next weeks or months. At the heart of the political uncertainty is division about how to proceed with fiscal consolidation against a moving target of widening deficits.The lack of fiscal consolidation in France has been a topic for many years. Though the ECB provides an implicit backstop against disruptive widening of OAT spreads through the TPI, our Europe economists view the activation of TPI as unlikely. As the spread widening has been driven by concerns around France's fiscal sustainability, a factor that is likely seen as reflecting fundamentals.In our rather mechanical projections on debt, we highlighted markets would ultimately determine what is and is not sustainable. These political events are the type of catalyst to watch for.So far, the risks have been contained, but we have a clear message that complacency could become costly at any time. With the deterioration in debt and fiscal fundamentals, we suspect there will be more risks ahead.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

Low back pain is one of the most common – and complex – challenges in healthcare. In this episode, physical therapist Jeff Vitale shares how he applies Dr. Stuart McGill's evidence-based methods to help even the most difficult cases. Part of an elite group personally certified by Dr. McGill, Jeff integrates the McGill Method with other frameworks such as TPI and tools like the Neubie to create breakthrough results for patients who've often tried everything else. In this conversation, we discuss: Jeff's personal story with back pain and surgery as a college athlete The philosophy and principles behind the McGill Method for detailed assessment, which includes redefining “chronic“ back pain How detailed assessment identifies pain triggers and guides precise exercise programming Balancing stability and mobility in athletic movements like the golf swing Where the Neubie fits into the rehab and performance equation This is an episode for anyone serious about solving back pain at its source. Whether you're a clinician looking for new tools or someone personally battling low back pain, this episode provides a roadmap with practical solutions.  

Jim Oliver sits down with Brett Swarts to tackle the part of exiting most owners ignore until it's painful: Taxes. Brett is the founder of Capital Gains Tax Solutions, a real estate broker and tax strategy specialist with deep expertise in Deferred Sales Trusts (DST), Delaware Statutory Trusts, and 1031 exchanges. He hosts the “Build It to Billions” and “Capital Gains Tax Solutions” podcasts.  Together, Jim and Brett lay out how purpose-driven entrepreneurs can engineer an exit that prioritizes tax flow, converts to truly passive income, and preserves control and flexibility. What You'll Learn: Why most CPAs “report the score” and how a true tax strategist changes outcomes Tax flow vs. cashflow: deferring cap gains to compound what would've gone to the IRS A “2.0” exit for larger deals: using a Deferred Sales Trust for cap gains and estate tax planning When 1031s become a “shotgun wedding”—and smarter blends (partial 1031 + DST + cost seg) How to define and build TPI (truly passive income) so your time, not the asset, drives your life Action Steps: 1. Build the Exit Blueprint Quantify net proceeds, gain, debt, and estate exposure. Set a clear monthly TPI target before signing an LOI. 2. Upgrade the Bench Add a tax strategist alongside CPA/attorney. Evaluate DST, partial 1031, bonus depreciation, and insurance—pick tools, not dogma. 3. Allocate for TPI Diversify post-sale capital into vehicles that deliver durable, hands-off cashflow while keeping optionality for future deals. Brett Swarts' Final Word “Truly passive income is to your freedom and impact what compounding interest is to your money. Lead with tax flow—and let it compound.” Connect with Brett Swarts: Website: https://capitalgainstaxsolutions.com/ Website https://brettswarts.com/ YouTube: http://www.youtube.com/@CapitalGainsTaxSolutions

Ce jeudi 11 septembre, Antoine Larigaudrie vous présente le coffre fort dans son émission Tout pour investir sur BFM Business. Retrouvez l'émission du lundi au vendredi et réécoutez la en podcast.

O episódio 341° do TPI contou com a presença de Thiago Aprigio, atual coordenador da base do Cuiabá.  Neste episódio, tratamos sobre os pilares que norteiam o processo de formação no Cuiabá, os estímulos para desenvolver a concentração dos jovens durante os 90 minutos de uma partida, o perfil de zagueiros que o Cuiabá está formando, as principais métricas para avaliar a eficiência do trabalho nas categorias de base, como ocorre o processo de transição dos jovens para a equipe principal no Cuiabá, o perfil de jogador procurado pelo clube na base e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

A feedback pod today, and we start with some iron covers chat - couple of pieces of info, and do Nick and Mark soften their stance on iron covers as a result?Message from wolfpacker Deryck who is curious if Nick or Mark ever played with the cigar smoking Darren Clarke or Miguel Jimenez, and he has a ripper story about Darren. Mrs talks about warming up once behind Miguel, in the early days, and thinking he was a complete hack!Andy dislikes some of the celebrations he sees after tournament wins, and would like to know if the boys feel the same way.And after The Turn, Anthony has a career path for one of the Talk Birdie Team, and would like to know if that team member is keen, and if the wolfpackers can make it happen. Short answer, yes he'd be up for it, but no the wolfpackers can't make it happen. Details on the pod.Chat last week about the TPI swing analysis, and both David and Paul messaged us about a video on YouTube which is long, but apparently very good. You can see it here. Whilst on YouTube videos, Mark watched one at the weekend on how golf clubs are made and found it fascinating. You can see it here.Peter has a comment on the points system that we have been chatting about (for LIV and the PGA). Mitchell from Paraparaumu in Aotearoa has written in about the reciprocals he gets with Melbourne courses, and he's on his way there to play some pretty special courses in October....he's excited!Speaking of excited, Ivan is excited about a new Golf Clearance Outlet store coming to the Mornington Peninsula.Trim has a suggestion for the greatest shot ever made, Nick relays a story that Wayne 'Radar' Riley told him about the greatest shot he ever saw, and Mark tells the story of the greatest 2 shots (they are related) he ever saw!Fun pod today.We're live from Titleist and FootJoy HQ thanks to our great partners:BMW, luxury and comfort for the 19th hole;Titleist, the #1 ball in golf;FootJoy, the #1 shoe and glove in golf;PING will help you play your best;Golf Clearance Outlet, they beat everyone's prices;Betr, the fastest and easiest betting app in Australia;And watchMynumbers and Southern Golf Club. Hosted on Acast. See acast.com/privacy for more information.

So this weekend we're checking in with wolfpacker Steve in his quest to get under a 5-handicap, we'll get to that shortly. Firstly though, a couple of comments and questions.Wayne asks whether Nick and Mark would have benefited from a TPI swing analysis in their pro days, and he has an idea for the Australian Masters involving LIV and the DPWT. Whilst on LIV, Jake is curious as to why the flow of big name signings is not what it was, and have they changed their approach to now sign younger players.The TPI question leads to a good chat on the perils of chaining your technique as a Tour Pro and why it is a huge financial risk.Then onto Steve. He has sent in some chipping and putting videos, whilst they're clearly visual, the commentary and advice around them from Nick and Mark is easy to understand and take in. Worth a listen. Steve, you may recall from his appearance on the podcast a month or so ago, is trying to get his handicap down from a 7.1 to under 5 in order to play the Victorian Senior Amateur in 2026 to honour a mate who has cancer and is unable to himself. Fantastic to check in with Steve and get an update on his progress.We're live from Titleist and FootJoy HQ thanks to our great partners:Titleist, the #1 ball in golf;FootJoy, the #1 shoe and glove in golf;PING will help you play your best. See your local golf shop or professional for a PING club fitting;Golf Clearance Outlet, visit them online here to find your nearest store.Betr, the fastest and easiest betting app in Australia.And watchMynumbers: download from the App Store or Google Play, and Southern Golf Club: with their brand new Simulator Room. Hosted on Acast. See acast.com/privacy for more information.

O episódio 340 do TPI contou com a presença de Maurício Souza, atual técnico do Persija Jakarta, da Indonésia. Neste episódio, tratamos sobre o uso de comportamentos do futsal no futebol, a ampliação do conceito de bolas paradas, os estímulos para manter a concentração dos jogadores durante os 90 minutos e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

On this week's episode of Fully Equipped, GOLF's Johnny Wunder and Jake Morrow dive into the Titleist Performance Institute experience with their Supervisor, Club Fitting Analyst Lucas Bro. They break down why peak height matching is key to a proper fitting, TPI's approach to educating the consumer during their visit and the importance of focusing on physics and speed over handicap. --If you'd like to be featured on the Fully Equipped Hotline in future episodes, call (480) 442-1168 and leave us a voicemail.--Attention gear heads! The Fully Equipped store is officially live at⁠ shop.golf.com⁠.

Allen, Phil, and Rosemary continue the discussion from Tuesday's episode, diving into renewables opposition and TPI's financial situation. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Welcome to Uptime, spotlight, shining light on wind. Energy's brightest innovators. This is the progress powering tomorrow. Allen Hall: So what we're talking to energy, everything is difficult, so we wind and solar can be difficult to make money in. But some of the discussion about moving back to coal or, or moving back to older sources of electricity generation, their money losers too.  Rosemary Barnes: Yeah, probably even more efficient money losers. And on a larger scale, you know, at least wind and solar, you could lose, lose money a little bit at a time and you don't lose money on the operation. Um, you know, it's, it's all in the, the, the capital cost. Whereas coal can lose money ev every single, every single day that the plane operates. So I [00:01:00]guess that that's, uh, yeah, that's true. It's not as, not as bad as that.  Allen Hall: So is there a industry fix or is there a hope for the future? Right now, I don't see it. Rosemary Barnes: I was reading this book for a little while and I stopped reading 'cause I, um, it had some good ideas, but it wasn't like totally rigorous in its, um, exploration of all the ideas. I think it's called The Price is Wrong, or something like that. And it's about how like, it's not possible to have a renewables industry that isn't subsidized by the government. And, um, there's some, I I, I think that there's some truth to that, but I would replace. That there's, it's impossible to have a renewables industry if that's not subsidized. Rather say it's impossible to have an electricity system that's not subsidized in some way by the government. Um, and yeah, I mean, just rec recognize that and maybe we don't need to to fight that, but, um, it, it is always turns like so tribal that everyone's arguing over who's got the more subsidies or who's. More dependent on subsidies. Um, yeah, it'd be easier [00:02:00] if we could all, you know, get on the same page about climate change and just acknowledge what we needed to do. But, you know, if, if wind and solar power never came along and we didn't care about climate change, then we'd still be subsidizing, uh, yeah, like coal and, and gas and, uh, all the transmission and, uh, I don't know, infrastructure. You need to transport those fossil fuels around. Like, you know, we'd, we'd still be subsidizing because people still need electricity and still get upset if it's, um, you know. So expensive that you are stuck, you know, choosing whether you want to eat this week or heat your home this week. So,  Allen Hall: well, is it because electricity was late to the game? The railroads sort of blew through the United States and everywhere else in the world because it was easy.  It missed Australia, but yeah, would would've been nice.  Allen Hall: But here, here in America, the railroads pretty much owned most of America very quickly. Uh, and got it done before there was any real. Feedback like they would be today, as soon as you wanna put a transmission tower in somebody's farm field.[00:03:00] Huge, huge uproar. States are involved, senators are involved. The government's all over it. There's committee meetings. Everything gets really slowed down versus 1860s. It just happened.  Rosemary Barnes: But I think the difference as well, like it's not like transmission didn't have these obstacles the first time around, right?

Hal Brands, Henry A. Kissinger distinguished professor of Global Affairs at Johns Hopkins School of Advanced International Studies and author of The Eurasian Century: Hot Wars, Cold Wars, and the Making of the Modern World, sits down with James M. Lindsay to discuss how and why control of Eurasia affects U.S. national security. This episode is the fifth in a continuing TPI series on U.S. grand strategy.   This episode was originally released by The President's Inbox on January 21, 2025.   Mentioned on the Episode   Hal Brands, The Eurasian Century: Hot Wars, Cold Wars, and the Making of the Modern World   H. J. Mackinder, “The Geographical Pivot of History,” The Geographical Journal   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/eurasia-challenge-hal-brands

Giulia Vitali"Nata nell'acqua sporca"Giulio Perrone Editorewww.giulioperroneditore.itSara, giovane napoletana, cresciuta nell'assenza di un padre emigrato in Albania e nella distanza emotiva di una madre troppo presa dal suo lavoro di giornalista, impara presto a convivere con il silenzio e l'incomprensione. Fuggire diventa l'unica scelta possibile: lascia la casa d'infanzia per seguire il fidanzato tossicodipendente, ritrovandosi in un vortice di eccessi e smarrimento.Il suo destino si intreccia con quello di altri tre compagni di deriva. La loro amicizia è il nodo viscerale di un amore tossico e in questo naufragio volontario, il corpo diventa una frontiera da esplorare, un territorio di perdizione e riscoperta.Ma il passato riaffiora, si insinua nel presente, lo plasma e lo deforma come un'eco: l'infanzia e l'adolescenza si specchiano l'una nell'altra, cicliche, inevitabili in un dialogo doloroso tra la bambina che era e la donna che sta diventando.È scritto con il fil di ferro che raschia la pagina questo romanzo d'esordio di Giuliana Vitali — Silvio PerrellaGiuliana VitaliNata a Napoli nel 1987, attualmente vive a Roma. Condirettrice e curatrice della rivista letteraria Achab, in attività dal 2013, fondata da Nando Vitali. Collabora con diversi giornali e riviste culturali come Left, Huffpost, Wired Italia, TPI, Il Quotidiano del Sud, Succedeoggi di Nicola Fano, KulturJam di Sandro Medici, interessandosi anche di tematiche sociali.Ha frequentato la scuola di scrittura Genius di Paolo Restuccia e in particolare il corso di scrittura a cura di Andrea Carraro.IL POSTO DELLE PAROLEascoltare fa pensarewww.ilpostodelleparole.itDiventa un supporter di questo podcast: https://www.spreaker.com/podcast/il-posto-delle-parole--1487855/support.

Return 2 Sport is a physical therapy facility located in Manasquan, NJ. In this episode, we have owner Dr. Matt Gerdes PT, DPT, SFMA, TPI, STMT-C, CEAS and Steve Beverly CSCS to discuss all things about the state of today's physical therapy and the overall approach to better health and recovery. For more information please visit www.Return2Sport.com or call 732-800-1078. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Angola prepara-se para manifestação contra o aumento dos preços dos combustíveis e táxis. Jurista deixa um desafio às autoridades. Em Moçambique, extensionistas do Sustenta denunciam atrasos no pagamento dos salários e ausência de direitos laborais. Analisamos ainda como o futebol na República Democrática do Congo pode ajudar a unir o país.

O episódio 339° do TPI contou com a presença de Victor Passeri, atual gerente das categorias de base do Red Bull Bragantino. Neste episódio, tratamos sobre o perfil buscado pelo Red Bull  Bragantino para reforçar sua base, a integração realizada pelo clube com os jovens das categorias da base com a equipe profissional, a importância de desenvolver a compreensão sobre o jogo no processo de formação do atleta, os perfis de zagueiros, laterais e volantes que o Red Bull Bragantino está formando e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

Gaza: Sanzionata dagli USA, Francesca Albanese, relatrice speciale ONU per i diritti umani   La Corte europea condanna la Russia per gravi crimini in Ucraina, incluso l'abbattimento del volo MH17.Tunisia: condannato a 14 anni Rached Ghannouchi, leader dell'opposizione.Trump riceve cinque leader dell'Africa occidentale mentre taglia gli aiuti umanitari.India paralizzata da 250 milioni di lavoratori: è il più grande sciopero della storia. Regno Unito: almeno 13 suicidi legati allo scandalo del sistema informatico delle Poste. Venezuela: giornalista italo venezuelano da dieci mesi in isolamentoIntroduzione al notiziario: La guerra è una scelta, la pace un impegnoQuesto e molto altro nel notiziario di Radio Bullets a cura di Barbara Schiavulli

What happens when a fitness center evolves beyond simply building muscles to creating a complete approach to living better? At Bonita Bay Club, it's nothing short of remarkable.Tammy Mugavero has spent 25 years transforming fitness at Bonita Bay Club from a modest 5,000-square-foot facility with minimal staff to an award-winning 20,000-square-foot wellness hub employing 43 professionals and attracting 69% of eligible members—far exceeding the industry average. Under her guidance, the center has been named one of America's healthiest clubs and ranked #2 among private club fitness facilities nationwide.The secret? A balanced approach, Tammy calls "the wellness triangle"—where fitness, nutrition, and mental wellbeing create the foundation for true longevity. "Everyone wants to live longer," Tammy explains, "but you just don't want to rack up the age. You want to live longer, but you want to live a better quality of life."This philosophy drives the diverse programming at Bonita Bay Club, from personal training and specialized services like Rock Steady Boxing for Parkinson's patients to cutting-edge KinoTech assessments that utilize AI to evaluate movement quality, not just capability. Their 23 TPI-certified golf fitness professionals—the largest such team in any US club—bridge the gap between sport performance and injury prevention.Most compelling is Tammy's story about member Rich Oelkers, who suffered a catastrophic spinal cord injury that left him completely paralyzed. Through determination and consistent work at the fitness center, Rich progressed from being unable to move to walking laps with his walker—embodying Churchill's wisdom that "if you're going through hell, keep going."Ready to transform your own wellness journey? Visit the Fitness Center to schedule your complimentary KinoTech movement assessment, offered Monday through Friday afternoons, and discover how movement quality can change everything about how you experience life.

Keivan Stassun is the Director of the Frist Center for Autism & Innovation at Vanderbilt University. He joins this week's Allyship in Action Podcast epidsode to unpack how to get the full ROI when appropriately practicing neuroinclusion. Key Takeaways Neurodiversity drives innovation and strengthens teams: Keivan's experience in astrophysics, particularly the groundbreaking discovery made by his neurodiverse team, powerfully illustrates how embracing different cognitive styles leads to novel problem-solving and enhanced outcomes. Clear communication, beneficial for everyone, becomes essential in neurodiverse teams, ultimately making the entire team more effective.   Support for autistic individuals needs to extend into adulthood: While significant progress has been made in early intervention for autism, there's a critical need for increased focus and investment in supporting autistic adults in higher education and the workforce. This includes providing appropriate accommodations, fostering inclusive environments, and recognizing the unique strengths and contributions of this community. Creating inclusive opportunities benefits both individuals and organizations: Models like The Precisionists Inc. (TPI) demonstrate that tailored support and understanding of neurodivergent needs can lead to high-quality work, increased employee loyalty, and reduced errors. By shifting perspectives and implementing practical accommodations, businesses can tap into a valuable talent pool and achieve tangible benefits. Key Quotes "I'm absolutely convinced that new discoveries and innovations happen because the team invited and included and supported the full diversity of thought."  "There has been so much less investment has been autistic people who are over 18 years old where people spend the majority of their lives in adulthood."  Actionable Allyship Takeaway: Recognize and actively leverage the unique strengths and talents of neurodiverse individuals while also providing necessary support and accommodations. Keivan emphasizes that focusing on both the support needs and the strengths of autistic individuals is crucial. He provides examples of how companies can benefit from the talents of neurodiverse employees (e.g., employee loyalty, attention to detail)  while also highlighting the importance of providing appropriate accommodations to ensure their success. Find Keivan at https://my.vanderbilt.edu/kstassun/ and find Julie at https://www.nextpivotpoint.com/ 

O episódio 338 do TPI contou com a presença de Felipe Feijó, atual presidente da Federação Alagoana de Futebol. Neste episódio, tratamos sobre o papel das federações na reconfiguração da indústria do futebol, a organização do calendário do futebol brasileiro, o desenvolvimento do futebol nordestino, a competitividade no contexto das categorias de base, a chegada do Footlink para o futebol alagoano e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

O episódio 337° do TPI contou com a presença de Bernardo Franco, ex-treinador do Cuiabá. Neste episódio, tratamos sobre a evolução do processo seletivo de treinadores no futebol brasileiro, as diferentes estratégias para acessar os jogadores, a influência do mental no contexto do futebol, a evolução tática da posição de goleiro, as formas de atacar equipes que marcam com linhas baixas, a importância dos arremessos laterais, as dificuldades na transição do auxiliar para se tornar treinador principal e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

What's up Doc!? Dr. Nico Darras is back to reflect on his meteoric journey from baseball to professional golf to advising some of the best golfers in the professional game. Matt and Kevin kick things off with the importance of challenging paths in life, and how golf's difficulty should be viewed as a feature, not a bug. They share updates, including Matt's preparation for the Ohio Open. Dr. Darras joins to offer his insights on competition and enjoyment in golf immediately. The conversation explores balancing preparation and enjoyment, the nature of competition, and setting realistic goals. The episode emphasizes that the journey matters as much as outcomes, especially in competitive golf. The group delves into the mental aspects of golf, again stressing the value of separating outcomes from enjoyment and improvement. They reflect on personal experiences, including an enlightening non-spiritual trip to Scotland for Doc and what he learned about his relationship with the game. The dialogue underscores community importance, the joy of self-improvement, and how golf can connect and fulfill beyond us, beyond just a score. NewClub > https://www.newclub.golf Titleist > https://www.titleist.com TPI > https://www.mytpi.com/ Golfblueprint > https://www.golfblueprint.com Chapters 00:00 Introduction and Personal Updates 03:02 The Hard Things We Choose 06:04 Setting Goals for Competitive Golf 09:01 Introducing Dr. Nico Darras 09:52 The Nature of Competition 14:07 Finding Balance in Golf 17:52 The Importance of Enjoyment in Golf 21:03 The Role of Preparation and Process 24:06 Navigating the Pro Game 30:00 Conclusion and Final Thoughts 37:43 The Mental Game of Golf: Success and Failure 42:44 Finding Joy in the Process of Golf 43:58 Reflections from Scotland: A Journey of Self-Discovery 49:32 Redefining Relationships with Golf 55:30 The Importance of Community in Golf 01:01:48 Self-Improvement vs. Competition: A Deeper Understanding

O episódio 336° do TPI contou com a presença de Marcelo Guimarães, treinador de futebol e instrutor da CBF Academy. Neste episódio, tratamos sobre o processo de transição do auxiliar técnico para se tornar treinador principal de uma equipe, a formação dos laterais no futebol brasileiro, os receios das novas tendências táticas no futebol, o desafio do treinador em passar o entendimento do jogo para seus atletas e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

O episódio 335° do TPI contou com a presença de Fernando Seabra, técnico do Red Bull Bragantino. Neste episódio, tratamos sobre a trajetória de Seabra no âmbito do futebol até exercer a função de treinador, a relação entre a ideia de um técnico e a cultura do clube, a organização coletiva como ferramenta para evoluir jogadores, a junção do caos com a organização no último terço do campo e muito mais.  CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

O episódio 334 do TPI contou com a presença de Rui Almeida, técnico do Difaâ El Jadida, do Marrocos. Neste episódio, tratamos sobre a importância do contexto no âmbito do futebol, o início da trajetória de Rui como treinador e auxiliar de Jesualdo Ferreira, o perfil de camisa 5 utilizado pelo técnico português, as formas para marcar os espaços entre os laterais e zagueiros, as dinâmicas executadas por Rui nas bolas paradas ofensivas e defensivas e muito mais. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/​​ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/​​​​ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc​​​​​​​​​ • Instagram: http://instagram.com/footurefc​​​​​​​​ • Facebook: http://facebook.com/footurefc​​​​​​​​ • LinkedIn: http://linkedin.com/company/footurefc

Eli continues his comeback at TPI.  Want bonus content? Join the Velcro: chasingscratchgolf.com/velcro  Kudos to Vuori: get 20% off your first purchase at vuoriclothing.com/chasingscratch  Kudos to The Stack: get 10% off at thestacksystem.com/chasingscratch MUSIC CREDITS: "Pax" is by Soulish (purchased on PremiumBeat.com) "C Major Prelude" is by Bach "Way Out West" is by Twin Musicom "Air to the Throne" is by Doug Maxwell "Epic Battle Speech" is by Wayne Jones "The Game Changer" is by Evan MacDonald (purchased on PremiumBeat.com) "When We Found the Horizon" is by Late Night Feeler

Robert Kaplan, acclaimed journalist and author of Waste Land: A World in Permanent Crisis, sits down with James M. Lindsay to discuss how the world's growing interconnectedness is likely to produce greater conflict and chaos. This episode is the sixth in a continuing TPI series on U.S. grand strategy.   Mentioned on the Episode:    Robert Kaplan, Waste Land: A World in Permanent Crisis   Robert F. Worth, “Narendra Modi's Populist Facade Is Cracking,” The Atlantic   For an episode transcript and show notes, visit The President's Inbox at:  https://www.cfr.org/podcasts/tpi/world-permanent-crisis-robert-kaplan

Hal Brands, Henry A. Kissinger distinguished professor of Global Affairs at Johns Hopkins School of Advanced International Studies and author of The Eurasian Century: Hot Wars, Cold Wars, and the Making of the Modern World, sits down with James M. Lindsay to discuss how and why control of Eurasia affects U.S. national security. This episode is the fifth in a continuing TPI series on U.S. grand strategy.   Mentioned on the Episode   Hal Brands, The Eurasian Century: Hot Wars, Cold Wars, and the Making of the Modern World   H. J. Mackinder, “The Geographical Pivot of History,” The Geographical Journal   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/eurasia-challenge-hal-brands

Edward Alden, senior fellow at CFR and co-author of When the World Closed Its Doors: The Covid-19 Tragedy and the Future of Borders, sits down with James M. Lindsay to discuss Trump's proposed immigration policies and their likely effects on the economy. This episode is the ninth and final episode in a special TPI series on the U.S. 2025 presidential transition and is supported by the Carnegie Corporation of New York.   Enter the CFR book giveaway by January 28, 2025, for the chance to win one of ten free copies of When the World Closed Its Doors by Edward Alden and Laurie Trautman. You can read the terms and conditions of the offer here.   Mentioned on the Episode   Edward Alden, The Closing of the American Border: Terrorism, Immigration, and Security Since 9/11   Edward Alden and Laurie Trautman, When the World Closed Its Doors: The COVID-19 Tragedy and the Future of Borders   Alessandro Caiumi and Giovanni Peri, "Immigration's Effect on US Wages and Employment Redux," National Bureau of Economic Research   Council on Foreign Relations, The Work Ahead: Machines, Skills, and U.S. Leadership in the Twenty-First Century   Robert O. Keohane and Joseph S. Nye, Power and Interdependence: World Politics in Transition   Anna Maria Mayda, Francesc Ortega, Giovanni Peri, Kevin Shih and Chad Sparber, "The Effect of the H-1B Quota on Employment and Selection of Foreign-Born Labor," National Bureau of Economic Research   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/trumps-immigration-policy-edward-alden-transition-2025-episode-9

Ray Takeyh, the Hasib J. Sabbagh Senior Fellow for Middle East Studies at CFR, sits down with James M. Lindsay to discuss how Trump's victory is being viewed in Iran and whether a return to “maximum pressure” will force Tehran to agree to limit its nuclear program. This episode is the eighth in a special TPI series on the U.S. 2025 presidential transition and is supported by the Carnegie Corporation of New York.   Mentioned on the Episode   Reuel Marc Gerecht and Ray Takeyh, “Tehran May Tempt Trump With Talks,” Wall Street Journal   Mike Pompeo, “After the Deal: A New Iran Strategy,” Speech at the Heritage Foundation   Ray Takeyh, The Last Shah: America, Iran and the Fall of the Pahlavi Dynasty   Ray Takeyh, “The Untold Story of Jimmy Carter's Hawkish Stand on Iran,” Wall Street Journal   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/iran-reacts-trumps-victory-ray-takeyh-transition-2025-episode-8

Stephen Heintz, president and CEO of the Rockefeller Brothers Fund, sits down with James M. Lindsay to discuss how the United States should adapt to an era of renewed great power competition and domestic disagreement over what it should seek to achieve abroad. This episode is the fourth in a special TPI series on U.S. grand strategy.   This episode first aired: August 20, 2024   Mentioned on the Episode    Stephen Heintz, “A Logic for the Future: International Relations in the Age of Turbulence,” Rockefeller Brothers Fund   John F. Kennedy, “Commencement Address at American University,” June 10, 1963   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/case-multipolar-pluralism-stephen-heintz

Charles A. Kupchan, a senior fellow at CFR and a professor of international affairs at Georgetown University, sits down with James M. Lindsay to discuss how the United States should adapt to an era of renewed great power competition and domestic disagreement over what it should seek to achieve abroad. This episode is the third in a special TPI series on U.S. grand strategy.   This episode first aired: July 30, 2024   Mentioned on the Episode    “A New U.S. Grand Strategy: The Case for Liberal Internationalism, With John Ikenberry,” The President's Inbox   Richard Haass, Foreign Policy Begins at Home: The Case for Putting America's House in Order   Charles A. Kupchan, Isolationism: A History of America's Efforts to Shield Itself From the World   Jake Sullivan, “Renewing American Economic Leadership”   Jake Sullivan, “The Sources of American Power: A Foreign Policy for a Changed World,” Foreign Affairs For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/new-us-grand-strategy-case-liberal-realism-charles-kupchan

Zoe Liu, the Maurice R. Greenberg Senior Fellow for China Studies at CFR, sits down with James M. Lindsay to discuss how Trump's victory is being viewed in China and what his presidency will mean for the future of U.S.-China economic relations. This episode is the seventh in a special TPI series on the U.S. 2025 presidential transition and is supported by the Carnegie Corporation of New York.   Mentioned on the Episode   Zongyuan Zoe Liu, Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions   Zongyuan Zoe Liu, “Why China Won't Give Up on a Failing Economic Model,” Foreign Affairs    For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/china-reacts-trumps-election-zoe-liu-transition-2025-episode-7

Sheila Smith, the John E. Merow senior fellow for Asia-Pacific studies at CFR, sits down with James M. Lindsay to discuss how Trump's victory is being viewed in Japan and what his presidency will mean for U.S.-Japanese relations and the security situation in northeast Asia. This episode is the sixth in a special TPI series on the U.S. 2025 presidential transition and is supported by the Carnegie Corporation of New York.   Mentioned on the Episode   Sheila Smith, Japan Rearmed: The Politics of Military Power    Sheila Smith, "Governing from Weakness: The LDP Under Prime Minister Ishiba Shigeru," The Diplomat   For an episode transcript and show notes, visit The President's Inbox at: https://www.cfr.org/podcasts/tpi/japan-reacts-trumps-victory-sheila-smith-transition-2025-episode-6