Month: June 2023

CINCINNATI, June 15, 2023 /3BL Media/ – Less than 1% of U.S. companies survive to mark their centennials. Fifth Third Bank, already decades past that milestone, celebrates its 165-year anniversary on June 17.  

Fifth Third’s rich heritage began in 1858, when a group of visionaries led by William W. Scarborough founded the Bank of the Ohio Valley. While Fifth Third’s name evolved over time, its vision to create a trusted institution that would serve as a catalyst for economic growth and prosperity has remained the same. Over the years, the bank has become synonymous with stability, community impact and innovation. These, along with the bank’s ability to adapt to changing times while staying true to its core values, have resulted in it becoming one of the nation’s highest performing regional banks. The bank has grown to approximately 20,000 employees and retail branches spanning 11 states, plus commercial banking and wealth and asset management both there and in Texas and California.

“Banks inhabit a special place in the communities where they operate and in their customers’ lives,” said Fifth Third President and CEO Tim Spence. “Along with that comes extra responsibility to be a proponent for positive change and well-being. I’m proud our employees have never forgotten that throughout our 165-year history. It inspires our continued commitment to innovation, exceptional financial services for our customers and strengthening our communities.” 

Fifth Third has a history of many firsts. In 1917, it was the first to establish a network of full-service branches in Cincinnati through the merger of Fifth-Third National and Union Savings Bank & Trust Co. It was one of the first financial institutions in the U.S. to establish a corporate foundation in 1948 – the Fifth Third Foundation. 

As an innovator focusing on customer experience and the future, Fifth Third became the first bank in the U.S. to establish an online network of ATMs in the 1970s. Jeanie, as the ATMs came to be known, was a beloved icon in Cincinnati and was synonymous to customers with easily access to their cash. It was the first to place banks in shopping malls in the 1950s and grocery stores in the 1980s.

Most recently, the bank launched Fifth Third Momentum® Banking, a first-of-its-kind banking solution that helps customers manage their everyday financial needs, and acquired Dividend Finance, Provide, Big Data Healthcare and Rize Money, Inc. as part of its fintech strategy. 

The hallmark of Fifth Third’s success lies with its passionate, diverse and talented employees, who are united around the Bank’s core values. These values serve as the foundation of its culture and operations, as well as the way employees interact with customers and each other. Fifth Third has remained a pillar of strength and stability for its customers and the financial system throughout the decades. 

“We have an impressive history when it comes to standing strong through good times and bad,” said Amy Purcell, Fifth Third Bank historian. “No matter the decade, you can find an innovation or significant ways we helped improve the lives of our customers and communities. That hasn’t changed since our founding in 1858.” 

Notable Fifth Third Firsts 

1908: Jacob G. Schmidlapp, founder and president of Union Savings Bank & Trust Co., established the Charlotte R. Schmidlapp Fund, the United States’ first private fund dedicated solely to helping young women pursue higher education and careers. 1917: First in Cincinnati and nearly in the U.S. to establish a network of full-service branches due to affiliation of Fifth-Third National and Union Savings Bank & Trust Co. (branched under Union’s state charter). 1948: One of the first financial institution in the U.S. to establish a corporate foundation (The Fifth Third Foundation). 1954: First in the U.S. to establish branches in shopping malls. 1961-63: One of the first dozen or so banks in the United States and first in Cincinnati to convert accounting systems to computers (electronic data processing). 1977: First in the U.S. to introduce an online network of automated teller machines (JEANIE®). 1980s: First in the U.S. to establish seven-day-a-week Bank Mart® locations in grocery stores. 2014:First bank in the U.S. to collaborate with NextJob, a nationwide reemployment solutions company, to offer a homeowner reemployment program. The program gives job search assistance to mortgage borrowers in serious risk of default, fully paid for by Fifth Third Bank. 2017: First in the U.S. to launch a maternity concierge program for employees. First in the U.S. to create an app that helps customers pay down student loan debt. 2018: First bank in the world and first Fortune 500 company to achieve 100% renewable power through a single solar project, executing a Power Purchase agreement in North Carolina with one of the largest solar projects in the United States. 2021: One of the first national banks in the U.S. to offer an everyday banking solution that helps customers avoid and manage cash shortfalls, get paid and pay others, and reach savings goals, all while knowing their bank helps to protect their identity and finances (Fifth Third Momentum® Banking).  2022: One of the first national banks in the U.S. to acquire a financing solution for solar energy (Dividend Finance).  

Read more about Fifth Third’s history and the story of how we got our name, here.  

About Fifth Third 

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, national Association. Member FDIC.

CONTACT:  

Tiffaney Hardy (Media Relations)
tiffaney.hardy@53.com | 513-534-8039  

Chris Doll (Investor Relations)  
christopher.doll@53.com | 513-534-2345  

June 15, 2023 /3BL Media/ – SkysTheLimit.org, a leading organization empowering entrepreneurs, is excited to announce the launch of its new podcast, The First Buck. Hosted by Sky’s the Limit Co-Founders, Nic Cary and Bo Ghirardelli, this engaging podcast aims to inspire and equip entrepreneurs and business leaders at every stage of their journey to reach their full potential.

The First Buck invites listeners to delve into the stories and insights from successful entrepreneurs and business leaders who have made significant strides – and discover the pivotal moment when they earned their first buck. With each episode, listeners gain valuable knowledge, tools, and inspiration to help turn their entrepreneurial dreams into reality.

Nic Cary, a serial entrepreneur and lifelong technologist, brings a wealth of experience to The First Buck. As the Co-founder and President at Blockchain.com, Nic has raised over $300 million from leading investors. Named the European Digital Leader of the Year in 2015, Nic is also the Founding Commissioner of the Blockchain Commission for Sustainable Development and co-authored the book The Future is Decentralised. He’s been featured in the New York Times, TEDx, NPR, Financial Times, Forbes, and many more.

Bo Ghirardelli, the Co-Founder & CEO at Sky’s the Limit, brings a wealth of experience in small business development to the podcast. Bo’s background includes multiple entrepreneurial ventures that have created 100+ jobs, and he has personally supported over 150 early-stage entrepreneurs over the past decade. Besides co-founding Sky’s the Limit, he also launched two businesses abroad, including Youth Cooperative in Agriculture, an award-winning social enterprise that provides jobs and access to scarce proteins in the Middle Atlas region of Morocco.

The First Buck episodes will drop on Wednesdays, featuring prominent guests including Fabio Rosati and Rick Wade, with many more to come. Each episode promises thought-provoking discussions, captivating stories, and practical advice for entrepreneurs and business leaders. Here’s a sneak peak:

Fundamental Truths of Entrepreneurism

This episode features Fabio Rosati, Chairman at Snagajob, a leading platform revolutionizing the job market. Fabio was previously CEO of Elance and Upwork, which he took public in 2018 (Nasdaq: UPWK). With an illustrious career, Fabio has shaped the employment landscape and brought innovative solutions to the forefront. In this episode, Fabio discusses the evolution of job search processes, the importance of embracing technology platforms, and the significance of hiring employees who align with a company’s culture.

Learning How To Take Risks & Invest in Your Business

Listeners can also look forward to an enlightening conversation with Rick Wade, Senior Vice President of Strategic Alliances and Outreach for the U.S. Chamber of Commerce. Rick, known for his advocacy for American-owned businesses, shares his insights on taking risks and investing wisely in your business. He draws from his experience working with Barack Obama during his campaign and presidency, offering invaluable advice on managing stress as a business owner and the impact of investments on life experiences.

Tune in – now streaming on Spotify, iTunes, and wherever you listen to podcasts – to gain the tools, insights, and motivation needed to thrive in the dynamic world of business.

Learn more about The First Buck podcast here.

Sky’s the Limit offers opportunities for traditionally marginalized entrepreneurs – typically those who identify as LGBTQIA+, BIPOC, women, veterans, disabled people, and people from low-income backgrounds – to connect with mentors to come together to foster, grow, and shape modern and future enterprise.

For more information about how to get your company involved in mentoring, please visit skysthelimit.org/partnerships.

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About SkysTheLimit.org: SkysTheLimit.org is a digital platform that connects young, historically excluded entrepreneurs with one-on-one support from experienced business advisors and mentors, entrepreneurship training, and community-voted startup grants. SkysTheLimit.org is a 501(c)3 nonprofit. 

Diversity, equity, and inclusion (DEI) are not just words but values that are exemplified through our culture at Cadence. In the DEI@Cadence blog series, you’ll find a community where employees share their perspectives and experiences. By providing a glimpse of their personal stories, we celebrate our One Cadence—One Team culture and the importance of sustaining it as we learn from diverse perspectives.

How It Started 

“Can women in Uganda work as a part of the Cadence extended R&D team?” 

This was a question I asked myself after participating in a volunteer project in 2019 to work with the Women in Technology Uganda (WiTU) organization. WiTU has been supporting women in technology across Uganda since 2015. They provide digital literacy for women at all knowledge levels, including those hoping to start a business, and run a coding academy for young women who had been unable to complete higher education but have the talent to work in a programming environment.

The story of the WiTU founder, Barbara Mutabazi, is an inspiration itself. She founded WiTU in 2014 and initially trained girls on her porch with two borrowed computers. Since then, the organization has grown and now employs a staff of 15, and in 2022, impacted nearly 10,000 young women!

After experiencing first-hand the drive and talent of so many young women, I asked myself whether it was a ridiculous idea to think that some of them might be able to join a Cadence R&D team. Cadence did not have an office in Uganda and there were no plans to open one, so my first concern was how could they possibly join and ramp up remotely. Well, 2020 delivered the answer! The pandemic showed me that we could continue to hire interns in India and other places, and they would work remotely.

The second question I asked myself was, “Will Cadence support such an idea and how can I get it off the ground?” That question was answered readily by my manager, Ziyad Hanna, who immediately jumped at the idea and offered the funding to test a remote internship program.

We had numerous early challenges, mostly pandemic related. Once WiTU helped us to put out the message that the program was happening, we had 60 applicants. We whittled it down to 20 interviews, and finally, five women were selected and hired. But we still had to face additional challenges.

The first challenge was getting laptops because the interrupted supply during the pandemic meant we needed help to get our hands on new machines easily. As a result, we had to make do with refurbished second-hand machines running a virtual desktop.

This highlighted the second issue: internet access. Because Uganda is a landlocked country, it relies on Kenya for all its fiber access to the internet, so costs are incredibly high and coverage can be patchy. We tried many avenues, but eventually, the best solution was to get good quality internet at the selected candidates’ homes.

Fast Forward to Today 
Unfortunately, one of the five original interns had to drop out of the program due to personal reasons, but the remaining four women have moved on from their internships to become full members of the Verisium Debug Product Validation (PV) team.

They have Cadence laptops and good internet, and for all intents and purposes, they are just like any other R&D team member. So, the answer to my original question: “Can women in Uganda work as a part of the Cadence extended R&D team?” is a resounding “YES!” While there are significant barriers, they can all be overcome. Now, let’s hear from the selected women about their journey to become an integral part of Cadence.

Transformational Experiences

Miriam Manteza 
My internship officially commenced on October 4, 2021. We embarked on a comprehensive training program covering various technologies, including C++, Python, and Linear Circuits, among others. Additionally, we tackled numerous IT configurations, such as setting up virtual machines on both Windows and Linux systems. These tasks proved to be quite complex, beaten down by our unreliable internet connection. Despite working on separate projects, all of us worked together harmoniously, sharing knowledge and supporting one another to meet deadlines. Throughout this journey, I was fortunate to have the unwavering support of my mentor, Stewart Penman.

In the second year of the internship, Phemia and I were informed that we would be joining the Verisium debug PV team, providing us with even greater opportunities for contribution. The news, however, brought me a mix of pressure and anxiety within me. It meant transitioning to a whole new team and working on a different product.

When we were officially introduced to the PV team, everything changed. The team welcomed us with open arms, extending their support and assistance. Our manager, Ruchie, paired us with Ludmila, alias Ludi, who guided us through the entire onboarding process and served as our primary contact for any queries or issues. We had two months to familiarize ourselves with the various tools used by the team. The ramp-up journey was made smoother by the unwavering support Phemia and I provided each other, as well as Ludi going above and beyond our expectations. Despite her demanding schedule, Ruchie also made time to offer guidance and support. Eventually, I found my way and successfully completed the task, which gave me an immense sense of fulfillment. It solidified my belief that with determination, there is no limit to what I can learn and achieve.

The subsequent tasks I undertook were even more challenging and significant. But I can confidently say that the sky is just the beginning for me. It has been six months since I joined the PV team, and I love working here. I must acknowledge that this transformative experience would not have been possible without the unwavering support of our mentor, Nick Heaton. Nick went above and beyond to address all our concerns, even upgrading our home internet speed to 40Mbps, significantly facilitating our work.

My life has undergone a remarkable positive change. I can now take care of myself, my family, and especially my daughter, Genesis, and my grandmother, who happens to love eating fried liver!

Olive Nives 
Cadence has provided me with an incredible opportunity for growth and has set the bar higher for my aspirations. The invaluable experiences and knowledge gained during this internship have continually empowered me to strive for excellence.

Onboarding with Cadence was challenging because it was my first job. Also, I also had no background in electronics. I received support from my manager and teammates, and I was able to onboard successfully.

There’s always something new to learn for every task that I’ve to accomplish. My team holds weekly training and mentorship from our supervisor, and with this, I have managed to grow as a Product Validation engineer. This has, in turn, made me a valuable member of the Python API team.

Phemia Ampaire 
An opportunity to work as an intern with Cadence came at the right time. I had finished my training in software development but didn’t have much practical experience. At Cadence, I have worked on two teams (System VIP and Verisium Debug). I have enjoyed working on the two teams because each team gave me a different experience to grow and contribute to the organization.

On the System VIP team, I was paired with Miriam to work on projects with Stewart Penman and Nick Heaton as our mentors. Our onboarding process took longer as the Python API was still in development. So, we concentrated on the online courses and then worked on a couple of examples for customers using Python programming.

The Verisium Debug PV team organized a team meeting to welcome and introduce us to the team members. My manager Ruchie Sassover assigned Ludmila as our buddy, who helped us with the ramp-up process, and within two months, we were already working on tasks from the roadmap. I love working with the PV team because of the endless support from all the team members and Ruchie .

I am grateful to my teammate Miriam. We have always made it a point to support each other to learn and finish our tasks on time. Special thanks to Nick for this opportunity, support, and connections to the right people to help us in the organization and contribution towards our growth and welfare. We already feel at home in Cadence!

Vivian Nabulo 
My internship onboarding process took about two months and was in a truly positive and compassionate environment. It involved getting familiar with the company and the team alongside the learning tools and systems needed to succeed.

On top of that, I was allocated to do online courses from various learning resources and the Cadence learning platform. This was because Cadence wanted me to leverage the skills used within the company. By the time I completed all the courses, I had gained the skills that I will carry throughout my career path

After two months of successful onboarding, I commenced to proactively work independently on most tasks. My manager Nick Heaton, mentor Ned Utzig, and other teammates were always there to facilitate, guide, and set expectations.

At the time of writing, it’s been one year and eight months, and I’m still loving the experience. The internet challenge I faced was solved by setting up the super-fast home internet. In return, this has increased my productivity. Now, I can complete a task with little or no guidance through my familiarity with the Cadence tools and APIs and the skills I gained from the courses.

In conclusion, my onboarding experience was a success because I got the freedom and time to settle into the company and my role. All this without being overwhelmed with abundant information and redundant processes.

Reston, Va., June 15, 2023 /3BL Media/ – CACI International Inc (NYSE: CACI) has been named to Forbes’ America’s Best Employers for Diversity 2023 for the second consecutive year. 

“It is an incredible honor to once again be named by Forbes as one of America’s Best Employers for Diversity,” said Jeana Plews, CACI Vice President of Diversity, Equity, and Inclusion. “Grounded in our strong values and mission, we are proud to be recognized for our commitment to diversity. While we still have more work to do, honors like this one are a great reminder of the progress we are making. This latest recognition further acknowledges the company’s success in advancing diversity, promoting equity, and cultivating inclusion.”

According to Forbes, companies were selected based on responses to an independent survey of more than 45,000 employees in the U.S. who work for companies with a minimum of 1,000 employees. Respondents answered questions regarding age, gender, ethnicity, disability, LGBTQIA+, and general diversity in their current workplace. Participants were also given the chance to evaluate other employers in their respective industries that stand out either positively or negatively in terms of diversity. 

Forbes conducted extensive research to evaluate how companies fared across a range of diversity-related best practices, including the presence of employee resource groups, the publication of diversity data, and the share of women in board and executive positions. 

About CACI

CACI’s approximately 22,000 talented employees are ever vigilant in providing the unique expertise and distinctive technology that address our customers’ greatest enterprise and mission challenges. Our culture of good character, innovation, and excellence drives our success and earns us recognition as a Fortune World’s Most Admired Company. As a member of the Fortune 1000 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index, we consistently deliver strong shareholder value. Visit us at www.caci.com.

There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.

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Corporate Communications and Media:                                           
Lorraine Corcoran                                                              
Executive Vice President, Corporate Communications                  
(703) 434-4165, lorraine.corcoran@caci.com                         

Heat pumps are having a moment. With increasing calls to reduce dependency on fossil-fuels and accelerate the use of clean technologies, the electric heat pump is getting a renewed boost in the portfolio of existing low-carbon technology. In 2022, Americans installed 4 million heat pumps, beating out fossil-fuel powered gas furnaces for the first time. The European Heat Pump Association reported a 38% spike in heat pumps sales in 2022 compared to the year before. Technology trades have been featuring heat pumps as an efficient, electric alternative to fossil-fuel systems. There was even a panel on heat pumps at South by Southwest this year.

It’s also left a lot of people wondering why this technology isn’t more widely used – and what makes heat pumps a significantly more efficient way to heat and cool buildings.

According to the International Energy Agency, in 2022 electric heat pumps met only 10% of heating needs in buildings globally. But they are capable of supplying more than 90% of global space and water heating at a lower CO2 emissions level when compared to condensing gas boiler technology.

While the public profile of heat pumps may be getting renewed interest, the technology has been used since the 1950s, with significant performance improvements along the way.

Moving and removing heat – naturally

Don’t let the name fool you – heat pumps don’t actually create heat. They get their name from the process of extracting and exchanging existing heat from one place to another.

Here’s a simple explanation of how they work:

When it’s cold outside and you want to heat your home, an electric heat pump pulls heat from the outside air and transforms it into a gas where it is compressed and heated to the desired indoor temperature. A fan is used to disperse the heat into your home.

Conversely, when it’s hot outside and you want to cool your home, the process reverses, pulling heat from indoors and transferring it outside, lowering the temperature of your home – in essence, cooling it.

Beyond homes, heat pumps can be used in much larger applications, like commercial and industrial spaces where they can heat and cool the air. Even more advanced systems can also heat and cool water for other uses, like bathroom showers or manufacturing processes requiring chilling or hot water.

While most heat pumps transfer heat from the air, like the example above, there are geothermal-heat pumps that draw heat from the ground, and water-source pumps that pull heat from nearby water sources, including processes like wastewater management.

A built-in lower-carbon footprint

There are multiple reasons that heat pumps are a lower-carbon alternative to traditional electric and gas-powered heating and cooling.

Heat pumps are powered by electricity and recovered energy.

Any heat released into the environment can be considered wasted – and since it takes energy to produce heat, wasted heat is wasted energy. Because heat pumps extract dormant heat, their ability to recover and reuse heat makes them a powerful resource in the ‘free energy’ sector.

Take for instance data centers that power the internet as we know it. These clusters of servers produce an abundance of residual heat and require significant cooling. In the Alsameer Energy Hub in The Netherlands, excess heat from a local data center was captured and transferred via heated water to three neighboring locations, including a school and gym. Chilled water from those same facilities returned to the datacenter – providing its necessary cooling requirements. Thanks to heat pumps combined with other thermal management technology, this energy transfer delivered a lower base temperature at the data center, helped to significantly reduce the electricity needed to create an optimal temperature within the facility and the energy needed to heat water for the school and gym. 

Even in cases where the direct energy source of a heat pump is a carbon-burning electrical grid, conservative estimates put electricity demands of a heat pump down by 30 to 40 percent. When paired with renewable energy sources, like solar, modern heat-pumps have the potential to become zero carbon solutions.

Heat pumps are extremely efficient.

Historically heating and cooling were approached separately given the technology available at the time.

Advanced technology like heat pumps allow us to combine independent heating and cooling systems, resulting in impressive energy efficiency gains. When compared to conventional heating and cooling technologies, efficiency performance can increase by over 300%. In some instances, high-efficiency heat pumps can actually create their own internal energy, requiring even less units of energy from a direct power source.

Scaling up with heat pumps

All climates

Thanks to technological advancements that have improved performance of electric heat-pumps in geographies with sustained sub-freezing temperatures, a resurgence is catching on with adoption in even some of the coldest climates on earth, like Finland. In fact, 60% of homes in Norway are equipped with heat pumps. The key feature allowing this ultra-cold performance is an advance in variable speed inverter-driven compressor technology, which wasn’t available in mainstream residential offerings just a decade ago.

Late last year, Trane Technologies surpassed the U.S. Department of Energy’s Cold Climate Heat Pump Challenge (CCHP) for high-efficiency residential heating in freezing temperatures. When tested at the DOE’s lab, Trane’s CCHP prototype performed in temperatures as low as negative 23 degrees Fahrenheit, surpassing the mandatory negative 20 degrees Fahrenheit DOE requirement.

When outdoor temperatures get very low and efficiency dips below desired levels, heat pumps can also be paired with other sources for a dual-fuel or hybrid arrangement that provides back-up capacity.

Good for both new and old buildings

For a large part of the world, replacing old systems involves retrofitting buildings with new technology. Since construction in older, more dense urban settings presents a unique set of challenges, custom district heating schemes can be an important solution in the future of urban comfort heating and cooling.

In one example in Geneva, Switzerland, a major district heating solution is using a thermal network to heat and cool buildings in and around the city center with water from the lake, growing from an initial footprint of 50 buildings in 2018 to a goal to expand to over 350 buildings by 2035.

Pressure to transition

Challenges to quickly accelerate deployment of heat pumps do exist. In many European countries, heat pumps are highly subsidized due to a strong focus on environmental sustainability. Through its REPowerEU initiative, the European Union wants 30 million new heat pumps installed by 2030, saying this could save the EU 35 billion cubic meters (bcm) in gas consumption per year.

In the U.S., climate policy has been less consistent, though electrification regulations for buildings are gaining traction in more and more states, from California to Massachusetts, which will help heat pump markets grow. Additional climate provisions, like those introduced in the Inflation Reduction Act of 2022, will help accelerate the use of clean technology like heat pumps in energy-intense infrastructure and systems, while encouraging even more innovation.

(Read more from Consumer Reports about how U.S. homeowners considering heat pumps can benefit from the Inflation Reduction Act)

Even as more heat pumps enter the market, from residential applications to much larger opportunities in commercial spaces, to reap their full decarbonizing potential, power grids must get greener. Coal-fired plants are still prevalent in some of the world’s largest developed and developing economies, including China, the U.S. and India. There is progress, however – 40 countries committed to phase out their coal power plants at the COP26 summit.

In the meantime, the heat pump is finally gaining recognition as a ready solution to reduce energy costs and consumption, lower carbon emissions, and decrease dependence on fossil fuels.

To learn more, explore our infographic below or read our white paper focused on commercial solutions, Trane©: The Future of Heating is Electric.