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The Pearl launches in Charlotte as a blueprint for health care transformation

The Pearl launches in Charlotte as a blueprint for health care transformation

The Pearl has officially opened its doors, marking the launch of a transformative new model in health care. Strategically uniting leading-edge medical training, academia and the most innovative names in health technology, The Pearl is designed to ignite collaboration, catalyze economic growth and drive innovative solutions for the city, region and beyond.
The Charlotte-based innovation district was created by a visionary public-private partnership led by Atrium Health, Wexford Science & Technology, LLC and Ventas. Home to the Charlotte campus of Wake Forest University School of Medicine, the city's first four-year medical school, and the exclusive North American headquarters of IRCAD, a global network of advanced surgical training facilities, The Pearl will be a global destination for medical education and research.
'We built The Pearl to unlock the next era of clinical breakthroughs by uniting the brightest minds with the most advanced technologies in modern medicine,' said Eugene A. Woods, CEO of Advocate Health, of which Atrium Health is a part. 'It's where the world's top medical technology companies will work alongside surgeons, scientists, startups and students from Charlotte's first four-year medical school with the singular goal of finding new treatments and cures. Simply put, it will be a place where excellence lives — and excellence is learned.'
Over the next 15 years, the district is projected to generate more than 5,500 on-site jobs and more than 11,500 total jobs across the region, making The Pearl a catalyst for economic growth and opportunity.
'Building vibrant, amenity-rich communities that spark innovation begins by bringing together visionary people and transformative ideas,' said Thomas Osha, executive vice president of Wexford Science & Technology, the developer of The Pearl. 'Grounded in research, discovery, entrepreneurship, corporate partnership and deep community engagement, The Pearl is more than a district — it's the beginning of a bold new chapter in Charlotte's innovation story.'
At the heart of The Pearl is the Charlotte campus of Wake Forest University School of Medicine. The school of medicine is the academic core of Advocate Health. With its first class of students starting in July, enrollment is expected to increase to 100 students per class over the next five years.
'Complete with a state-of-the-art simulation center, we're reimagining education at Wake Forest University School of Medicine for the next generation of medical professionals,' said Dr. Julie Freischlag, chief academic officer of Advocate Health and CEO of Atrium Health Wake Forest Baptist. 'By integrating traditional learning with real-world experience and community engagement, The Pearl fosters an environment where learning extends far beyond the classroom.'
Appealing to different learning styles, the school of medicine's Charlotte campus curriculum takes a unique, problem-based approach to learning, known as integrated biomedical sciences. The approach uses weekly clinical cases as springboards for students to learn foundational science and evaluate possible diagnoses, in addition to considering outside factors that may impact patient outcomes.
The Pearl also is home to IRCAD North America, which includes a surgical training curriculum with the latest techniques in cardiovascular, neuro and orthopedic surgeries, among others, all of which are unique to the network. With programs set to begin in September, it's expected to draw thousands of medical professionals from across the globe annually.
'I congratulate Advocate Health on the grand opening of The Pearl, which will help provide lifesaving care to the Charlotte community and foster cutting-edge medical innovation,' said North Carolina Gov. Josh Stein. 'With an estimated 5,500 onsite jobs, The Pearl will also be a boon to Charlotte's economy, strengthen North Carolina's health care network and position our state as a global destination for advancing complex medical care.'
The commitment to educating the next generation of medical professionals also is evident through Atrium Health's partnership with Charlotte-Mecklenburg Schools. Together, with support from other partners, they've launched a science, technology, engineering and mathematics — or STEM — program designed to help middle school students get excited about careers in health care through free learning opportunities in an on-site lab.
'This innovation district is a powerful symbol of Charlotte's commitment to creating opportunities for everyone who calls this city home,' said Charlotte Mayor Vi Lyles. 'Not only does it honor our past by recognizing the rich history of Brooklyn, but it also looks to create space for inclusive growth.'
Located in the area historically known as Brooklyn — once a thriving African American community that was displaced in the 1960s and 1970s — the district is designed to reflect that legacy of resilience. With exhibits that pay homage to Brooklyn's enduring legacy, The Pearl aims to be a place where people from all walks of life will feel welcome and grow together.
'This is an important milestone for our entire community,' said Mark Jerrell, chair of the Mecklenburg Board of County Commissioners. 'This investment has the potential to foster greater opportunities for our residents, scholars and workforce in a way that honors this community's rich history, while also paving the way for a brighter future.'
The grand opening, which marked the completion of the first of three phases and includes more than 700,000 square feet of space, included walking tours, performances by local artists, a showcase of community partners and exhibits that reflect both the technological aspirations and the cultural heritage of the neighborhood.
National excitement: What others are saying
Sen. Phil Berger, North Carolina Senate President Pro Tempore: 'The Pearl is more than an innovation district in Charlotte — it's a launchpad for North Carolina's future. By attracting world-class partners like Wake Forest University School of Medicine and IRCAD North America, as well as investing in cutting-edge innovation, The Pearl is driving economic growth, expanding opportunity and helping shape a healthier, more prosperous state. Its impact will stretch far beyond city limits — fueling talent, research and progress that benefits all North Carolinians.'
Dr. L. Ebony Boulware, dean of Wake Forest University School of Medicine, chief science officer and vice chief academic officer of Advocate Health: 'As our world is changing, especially with technology advances, we are challenged to rethink everything — how we teach, how students learn and how we prepare the next generation of physicians to lead. This challenge became an opportunity. And our new school of medicine campus at The Pearl is our answer. This is a place where medicine meets technology, where education meets entrepreneurship — and where talent becomes transformation.'
Rep. Destin Hall, North Carolina House of Representatives Speaker: 'The Pearl stands as one of North Carolina's most significant investments in decades, delivering profound impacts both economically and in human health. By bringing Wake Forest's world-class medical school and its partnership with Atrium Health to Charlotte, they are addressing the state's critical health care needs while generating substantial economic growth and opportunity.'
John Kowal, president and head of the Americas at Siemens Healthineers: 'North Carolina is an increasingly important location for our business. The combination of IRCAD North America, Wake Forest University School of Medicine Charlotte and our U.S. Experience Center within The Pearl makes it the ideal site for innovation, collaboration and improved patient care.'
Sen. Thom Tillis, United States Senate: 'The launch of The Pearl represents a transformative milestone for Charlotte and the entire state of North Carolina. By uniting institutions like Atrium Health, Wake Forest Baptist Health and Wake Forest University School of Medicine, this innovation district will advance groundbreaking research, generate economic growth and further elevate North Carolina's role as a national leader in science, medicine and technology.'
Dr. Dionisios Vrochides, Executive Director of IRCAD North America: 'We're at the forefront of a new era in surgical education, driven by medical robotics, augmented reality, telepresence and AI. With IRCAD North America being part of The Pearl, we're creating a global ecosystem where innovation meets precision. Here, the world's brightest medical minds will converge to transform the future of minimally invasive surgery across every discipline.'
Atrium Health Wake Forest Baptist is a pre-eminent academic learning health system based in Winston-Salem, North Carolina, and part of Advocate Health. Atrium Health Wake Forest Baptist's two main components are an integrated clinical system with locations throughout the region and , the academic core of Advocate Health and a recognized leader in experiential medical education and groundbreaking research.
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Kestra, Raymond James Are Early Leaders in Drawing Commonwealth Advisors
Kestra, Raymond James Are Early Leaders in Drawing Commonwealth Advisors

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Kestra, Raymond James Are Early Leaders in Drawing Commonwealth Advisors

You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Kestra Financial and Raymond James have won several of what recruiters are characterizing as relatively early battles in the recruiting drive for Commonwealth advisors. Kestra, a subsidiary of Kestra Holdings, and Raymond James drew teams ranging from as many as 17 staffers to pairs of advisors in late July and early August, according to advisor moves data from ISS Market Intelligence. LaSalle St. Securities, Osaic and Purshe Kaplan Sterling Investments also saw movers in that time frame. LPL Financial said it had finalized offers to Commonwealth advisors during an August earnings call. On that call, CEO Rich Steinmeier said the results have the firm well on track for its goal of keeping 90% of the roughly 3,000 advisors slated to come over via an acquisition of the Waltham, Mass-based broker/dealer announced in March. Steinmeier also said reports in trade outlets of advisors moving were overblown, and that attrition of Commonwealth advisors was as expected. Even so, several more teams decided to move ahead of next year's planned integration of Commonwealth advisors onto LPL platforms, according to the data and regulatory filings. None of the broker/dealers or individual advisors responded to requests for comment. Shelby Nicholl, founder of recruitment and consulting firm Muriel Consulting, who did not work on these specific moves, said the advisors were likely sure they wanted to exit shortly after the deal was announced, while more are either preparing to move or still on the fence. 'I look at the Commonwealth exits as a marathon, not a sprint,' Nicholl said. 'It's a safe bet that we will see another big wave of departures this fall as advisors race to finish transitions before the holidays and year-end.' Nicholl said these first wave of departures likely 'had zero interest in the LPL deal.' Meanwhile, others signed the retention package while still planning to move later this year or early next. And still some will see how things play out. 'LPL will need to play the long game and keep the servicing high for the existing Commonwealth advisors in order to retain them,' she wrote. Kestra's largest get in recent months was Dynasty Advisors, a team based in Freehold, N.J., with 17 employees and 11 advisors, according to its website. According to BrokerCheck, managing directors Ronald Lomangino and William Grundig moved the firm to Commonwealth in 2016. The Benjamin Group, an advisory firm based in Vestavia Hills, Ala., also moved to Kestra. Father-and-son advisors Stuart and Zack Benjamin, along with four staff members, had been with Commonwealth for over 18 years. The Monarch Retirement Group, a six-person team based in Fallbrook, Calif., and two advisors who run Udall Financial in Mesa, Ariz., also made the move. Raymond James also added to the list of Commonwealth advisors who have chosen to join it in recent months. On Monday, it announced the latest of three recent moves by Commonwealth advisor teams who had worked with a combined $687 million in client assets. Jeremy Lobo, Chris Pascale and Michael 'Mike' Mendillo brought their Lobo & Pascale Wealth Management firm to Raymond James to be based in Wallingford, Conn. Lobo and Pascale, who had been managing $300 million in client assets, had been with Commonwealth for 24 years. According to ISS Market Intelligence data, FlahertyColvin, a Westerville, Ohio-based team of five, left Commonwealth for Raymond James in early March after 12 years with the broker/dealer. Hinkson Wealth Management, another six-person midwestern team, also shifted its Troy, Mich.-based practice to Raymond James. That firm's CEO and President, Greg Hinkson, had been with Commonwealth for over 20 years, according to BrokerCheck. Data also showed that three-person firm Planning Strategies, based in Dallas, Texas, and run by father-and-son Mike and Spencer Williams, left Commonwealth after founder Mike had been with the broker/dealer for 11 years. Frank LaRosa, CEO of Elite Consulting Partners, agreed that many Commonwealth advisors are still assessing their options of whether to stay or go to the larger LPL. He noted that even if advisors accept the retention package, which LPL said would range from 10 to 50 basis points, it is not binding and can be paid back within seven to 10 years. 'I think that advisors that weren't sure, or even had a knee-jerk reaction that they weren't going to LPL, are still doing their due diligence and are making sure that whatever decision they make is the right one,' LaRosa said. He said teams that have already moved likely had things in motion shortly after the announcement. That makes it hard to gauge yet whether LPL is on track to hit its 90% attrition goal. 'If you just look at the timing of everything since the announcement, I think there are a lot of teams, or even just groups of advisors, who are still looking to find the right place,' he said. 'Getting a group of advisors together can be a bit like herding cats .… it takes time to find the right solution.' LPL CEO Steinmeier had said during earnings earlier this month that the firm had been doing 'fever-pitched engagement' with Commonwealth advisors, and that 'as we've stated continually, we are committed to preserving that unique culture, the advisor experience, the brand, and in fact, we'll only enhance what they already receive with the combination of the LPL capabilities with that Commonwealth experience.' After the deal was announced, LaRosa had expected broker/dealers such as Kestra, Raymond James, and potentially Cetera to win out in the recruiting push for Commonwealth advisors as they looked for cultural or service fit. Larger RIAs may also be winners, while some advisors may start their own shops. LaRosa also said some may prioritize the ability to stick with Fidelity as a custodian, which Kestra provides access to, and which Cetera has said will be available to advisors in October. For his part, LaRosa tries to coach advisors that clients are not likely to leave due to the custodian, and to focus more on the service aspect for the advisor and their clients. Recruiter Shelby also noted that Cambridge Investments is 'picking up teams' from Commonwealth. She said the deals 'aren't as rich, but the ethos of the firm is similar to Commonwealth." Meanwhile, Kestra and Raymond James benefitted from going out quickly with 'aggressive deals' and 'a capabilities suite that matches Commonwealth advisors' needs.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Analysis-Air Canada labor deal may reshape pay for North American airline crews
Analysis-Air Canada labor deal may reshape pay for North American airline crews

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Analysis-Air Canada labor deal may reshape pay for North American airline crews

By Allison Lampert and Rajesh Kumar Singh MONTREAL/CHICAGO (Reuters) -A crippling strike by Air Canada flight attendants that grounded thousands of flights over wages and unpaid labor is the latest blow to the airline industry's compensation system that does not fully pay cabin crews for their hours at work. The union, representing more than 10,000 Air Canada flight attendants, said on Tuesday they reached a tentative deal that ends unpaid work, without sharing further details. Analysts say any gains could influence upcoming contract negotiations in North America. The deal could also drive up structural costs in a cyclical industry. Labor is airlines' biggest operating expense after fuel. The four-day strike that stranded more than 500,000 passengers mirrors unrest at U.S. carriers, where flight attendants cannot walk off the job until the National Mediation Board grants permission. But cabin crews at American, Southwest, and Alaska Airlines last year rejected several contract deals, saying they did not address concerns about unpaid work. Flight attendants at United Airlines last month voted down a $6-billion tentative labor agreement, which did not provide compensation for time on the ground before and after flights. The Chicago-based airline's union is surveying its members before returning to bargaining in December. United and the union did not immediately respond to requests for comments. While cabin crews get paid for a minimum number of hours, they are mostly compensated when planes are in motion, neglecting the crucial tasks performed during boarding, deplaning, and other ground operations. Unions say this amounts to significant unpaid labor. In previous contract negotiations, airlines secured concessions from workers as the industry was struggling due to economic downturns or the pandemic. But a runup in inflation, stagnant wages, and increased workload have fueled resentment among flight attendants, bolstering demands for a change in pay practices. "The Air Canada strike helps negotiations everywhere. It defined the problem of ridiculous expectations for flight attendants to work without pay," said Sara Nelson, international president of the Association of Flight Attendants-CWA, which represents 55,000 flight attendants at 20 airlines, including United. "The striking flight attendants are an inspiration to working people everywhere." Nelson spoke with Wesley Lesosky, head of Air Canada's flight attendants union, on Monday to coordinate positions, representatives of both unions told Reuters. Shanyn Elliott, an Air Canada Rouge flight attendant, said when she started work in 2017, she would pick up long-haul flights to earn extra pay as her C$23 ($16.60) hourly wage did not cover the cost of living. Adding to her frustration, frequent flight delays after the pandemic meant longer hours, said Elliott, who heads the strike committee for Air Canada flight attendants at the Canadian Union of Public Employees. Air Canada CEO Michael Rousseau said the industry needed to review its compensation models. In an interview, he said the Canadian carrier has accepted the concept of ground pay, adding other airlines will likely look at their own models. "I do think the industry has to take a closer look at this over time," Rousseau told Reuters. "We all should be open to change." American and Alaska have already begun compensating attendants for boarding time in their new labor agreements. American's flight attendants are now also compensated for some hours between flights. Those gains came after Delta Air Lines, whose flight attendants are not in a union, instituted boarding pay for cabin crew at half of their hourly wages in 2022 when they were trying to organize. HIGHER COSTS But paying for boarding and time on the ground would inflate airlines' operating costs. American Airlines' new flight attendant contract is estimated to cost it an extra $4.2 billion over five years. The company last month blamed increased labor costs in part for its margin underperformance. Canaccord Genuity analyst Matthew Lee estimates the proposed wage hikes at Air Canada would mean up to C$140 million in incremental costs. Air Canada's wage bill has increased about 26% since before the pandemic. The airline is already grappling with weak passenger traffic to the U.S. amid strained trade relations between Canada and the U.S., leading to a nearly 40% year-on-year decline in quarterly profit. But analysts warn holding the line on costs risks industrial peace. "The movement is on," said John Gradek, a faculty lecturer in supply networks and aviation management at McGill University. ($1 = 1.3855 Canadian dollars) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

If I Could Only Buy and Hold a Single Stock, This Would Be It
If I Could Only Buy and Hold a Single Stock, This Would Be It

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If I Could Only Buy and Hold a Single Stock, This Would Be It

Key Points Amazon and its management team are experienced with trying new things. Every success or failure, however, is a learning experience. History has shown that companies that foster innovation and don't punish failure tend to thrive, while those that fear it or are unwilling to adapt often struggle. 10 stocks we like better than Amazon › Investors can own as many individual stocks as they want and can afford. Sometimes, though, hypothetically imagining that you're limited to just one can be enlightening. That thought experiment forces you to rate and rank the strengths and flaws of every investment candidate on your radar. This process can -- in a good way -- really help you narrow down your list to a small handful of top options. Or one. And I know exactly which one that would be for me. If I could only buy and hold a single stock, it would be Amazon (NASDAQ: AMZN). Here's why. What Amazon really is You very likely already know the company. Amazon is, of course, the king of North American e-commerce, accounting for nearly 40% of the market's total revenue, according to research by Digital Commerce 360. It's doing alright overseas, too. Then there's its cloud computing arm, Amazon Web Services, which provides a relatively small portion of its revenue, but is responsible for nearly 60% of the company's operating profits. However, these numbers still don't even come close to telling the whole story. Amazon also manages an on-demand video platform (Prime), owns grocery store chain Whole Foods Markets, does delivery work for other online retailers, and sells prescription pharmaceuticals through its Pillpack arm. It also monetizes its online mall by allowing its sellers to pay for more prominent promotion, creating an advertising business that generated $15.7 billion in revenue last quarter alone, by the way. On top of all that, it owns websites and Twitch, and is the parent to camera-doorbell brand Ring. There's a method to the madness behind these seemingly disparate lines of business, though. While most companies focus on doing one or two things extremely well, Amazon has orchestrated several different lines of business, each of which fuels another, and each of which is fueled by another. The result is a mesh of different profit centers that ultimately funnels consumers and corporations into Amazon's ecosystem. Yes, it's complicated, but yes, Amazon can handle it. That's not quite the only reason I'd be willing to make Amazon my one and only stock holding, though. Jeff Bezos started it Companies founded or grown by bigger-than-life leaders can make for potentially problematic investments. It's just difficult to determine if it's the company that's something special, or the person. If it's the person, what happens when that individual is no longer at the helm? Case in point: General Electric was never quite the same after Jack Welch stepped down as CEO in 2001. Steve Jobs was also nearly synonymous with Apple until he passed the torch to Tim Cook in 2011. While Cook has been a solid successor, he's arguably not quite as captivating or magical as his predecessor. Neither is Apple under him. Still, most high-profile chief executives -- and founders in particular -- manage to leave their mark on their company's culture. That imprint remains part of the organization's ethos even in their absence. While current Amazon CEO Andy Jassy is no Jeff Bezos, for instance, Bezos' philosophy remains. Take, for example, the company's willingness to experiment. As Bezos noted in his 2016 letter to Amazon's shareholders, "Most large organizations embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there." That does not describe Amazon, though. Bezos made a point of fostering a "fail fast, fail often" work culture that did end up producing some failures, such as the Fire smartphone. Such experiments, however, also led to the creation of Amazon Web Services and Amazon Prime, the latter of which has been a massive growth driver for the company. Now Jassy is blending his own mindset with Bezos'. As he said while discussing the company's core 16 leadership principles, "At Amazon, you are not just empowered to speak up if you think we're doing something wrong for customers of the business. You're expected to do so, regardless of level." It works. Amazon is an even bigger company now than it was when Bezos stepped down as CEO. Don't underestimate the power of a willingness to innovate Many investors will point out that a healthy corporate culture doesn't pay the bills. I agree. At some point, to thrive, every company must sell its products or services profitably. Amazon is no exception. History has shown, however, that companies with corporate cultures that encourage innovation and don't punish failure tend to prosper while organizations that are cautiously and defensively managed often struggle. Compare Alphabet today to post-Welch GE, for instance. The manufacturing conglomerate ultimately hit a wall after years of obscuring the true depth of its insurance arm's liabilities from a management team that might have been able to fix them (although the company didn't exactly embrace the advent of the digital age either). Or compare Blockbuster to Netflix. The once-giant video rental chain infamously had a chance to buy the latter for a mere $50 million back in 2000. At the time, Blockbuster was doing on the order of $4 billion worth of business per year, and could have easily purchased Netflix, if only to take its budding competitor out of the market. But it didn't. In its defense, Blockbuster's decision at the time wasn't quite the obvious misstep it seems in retrospect. Remember, Netflix wasn't yet streaming then. It was still only renting DVDs by mail. Given Blockbuster's dominance of the brick-and-mortar movie rental business back in 2000, the logistics behind this new kind of movie rental business model understandably didn't make sense to the now-defunct company. In many regards, though, that story underscores the underlying theme here in an even more effective way. Even if Blockbuster didn't want Netflix, Blockbuster certainly could have leveraged its own powerful brand to become a streaming powerhouse. Likewise, if not Netflix, some other enterprising outfit would have eventually launched the streaming-video business. Netflix was simply the outfit that tried the idea out first, knowing when it did so that it might end in failure. So for my money, I'll bet on a company that is experienced with managing experiments' successes as well as failures -- and learning from both -- to evolve and thrive. That said, it certainly doesn't hurt the bullish argument that Amazon has the financial flexibility to experiment. With its $2.5 trillion market cap, it does more than $600 billion worth of business per year, and turns about $60 billion of that into net income. Meanwhile, it's only sitting on a little over $80 billion in long-term debt. It's much easier not to fear failure when you can actually afford to take big swings, miss, and try again. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 James Brumley has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, and Netflix. The Motley Fool recommends GE Aerospace. The Motley Fool has a disclosure policy. If I Could Only Buy and Hold a Single Stock, This Would Be It was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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