In 1987 Dr. Alan Mendelsohn was a newly minted graduate of the fellowship training program at Bascom Palmer Eye Institute of the University of Miami. That year he opened his ophthalmology practice in Hollywood and was excited to be a part of what was then a new breed of ophthalmologists who pioneered the practice of out-patient cataract surgery.
Cataract surgery is an out-patient procedure today, but until this moment in history eye doctors admitted their patients into the hospital for three days: the night before the surgery, the day of the surgery, and then one extra night after the surgery. There are several advantages to reducing the length of hospital stays, including: reducing the extra bother and expense; and more importantly, lowering the risk of contracting hospital induced infections. Out of hospital cataract surgery was an attractive alternative right from the beginning.
Dr. Alan Mendelsohn was at the cusp of this new model for cataract surgery. For the next ten years this was standard practice. Then, in the mid to late 1990s another revolution transformed the field of ophthalmology: “No Stitch” cataract surgery. Phaco surgery, short for Phacoemulcification, allowed eye doctors like Alan Mendelsohn to remove cataracts in a far quicker and safer way, resulting in better eyesight overall. In addition, the risks of edema, infections and inflammations were drastically reduced.
Today Dr. Mendelsohn’s practice is experiencing a third revolution: Laser-assisted cataract surgery. This type of surgery not only eliminates the cataract, but also can correct for low or moderate levels of astigmatism. This problem can be either improved or completely eliminated in many cases, resulting in a visual acuity improvement unprecedented from this type of surgery in the past.
Fulfilling one of his campaign promises, US President Donald Trump will uncover his plan for rebuilding the country’s infrastructure this week. The plan will cost US taxpayers $1.5 trillion, but is heavily dependent on state and local funding sources.
The plan will centerpiece a $200 billion pledge from the federal government which will be used to leverage money from cities and state budgets which will earmark them to roads, highways, ports, airports and more.
“Every federal dollar should be leveraged by partnering with state and local governments and — where appropriate — tapping into private sector investment to permanently fix the infrastructure deficit,” Trump said at last month’s State of the Union address.
Trump has said many times that the deteriorating roads and highways are holding the country back from faster expansion of the economy. Some lawmakers and others say that this issue should have been dealt with last year and Trump’s first big push in Congress, instead of the health care issue. Infrastructure is a bipartisan issue that would have helped create a more unified Congress.
The plan was previewed by administration officials as containing two key components: funding for new investments which will help speed up repairs on crumbling roads and airports; and a more efficient way for projects to get the permits they need, so projects can get underway faster. The officials added that the $200 million will come from cuts in other programs.
Darren Woods, CEO and Chairman of Exon Mobil, said last week that his company will be investing about $50 billion in the development of the US oil business over the next 5 years.
Woods said that Exxon is able to make such an investment due to the company’s strength and because of the recently-passed tax law which will slash corporate tax in the USA.
The money will be used to boost oil production in Texas and New Mexico, and to build new manufacturing facilities.
Woods added that the investments are good quality for shareholders which are made even better by the new tax landscape.
Many business leaders have come out in favor of the tax reform plan, which lowers corporate taxes from 35% down to 21%. Republicans were especially happy with the law, saying it will fuel growth and create more jobs. Democrats are not as pleased, saying the reforms favor the rich and expands the federal budget deficit.
Last year, Alibaba founder Jack Ma and Malaysian Prime Minister Najib Razak launched an “e-hub” facility. One of their goals was to remove trade barriers for smaller locations and emerging nations. Now, Alibaba plans to set up a traffic control system that would use artificial intelligence for Kuala Lumpur. This would be their first time offering a service of this sort outside of China.
They plan to make live traffic predictions and recommendations by looking at the data they collect from video footage, traffic bureaus, public transportation systems and other locations. The technology will be integrated into 500 inner city cameras by May and Alibaba will work with the state agency Malaysia Digital Economy Corporation (MDEC) and the Kuala Lumpur city council to implement these changes.
A similar system in the Chinese city of Hagnzhou has reported traffic violations with as much as 92% accuracy, an increase in traffic speed of 15%, and an ability for emergency personnel to reach their destinations in half the previous time.
After considering several buyers for its US chocolate business, food giant Nestle picked the Italian luxury chocolate brand, Ferrero in a deal worth about $2.5 billion. Last week it was reported that Ferrero had outbid its rival Hershey for the prize.
The deal makes Ferrero the third largest chocolate company in the US, after Mars, Inc. and Hershey. Before the buyout, Ferrero was the fifth largest confectioner, but only controlled 3% of the market. The Hershey group had 31.5% of the industry and Mars with 27.1%.
Ferrero also makes Ferrero Rocher pralines and Kinder chocolate eggs. It was founded in 1946, in the small Italian town of Alba, in Piedmont, by the grandfather of the present CEO, Giovanni Ferrero.
In 2011, after the death of his brother, Giovanni became the sole CEO of the company. Until that point the business grew solely through internal growth. After that the company started growing through acquisitions of other companies.