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Category: Events (page 1 of 5)

LBS’ graduate is the 200,000th LTU graduate

In 1967, 552 students enrolled at La Trobe University. Last week, Harsha Iruvaram, a Master of International Business became the 200,000th student to graduate from La Trobe University.

Harsha was unaware of the fact he was the 200,000th graduate until after his name was announced on the podium. It was a lovely surprise for him and those who attended the ceremony.

Deputy Chancellor, Andrew Eddy presented Harsha with his degree, while Professor John Dewar joined them both and presented Harsha with flowers and congratulations on behalf of the university.

 

“It feels unbelievable and this will stay forever with me”

 

Professor Dewar was thrilled to see such a special effort made for this special milestone in the University’s history. “Harsha is a very clever young man and it was wonderful to see the look on his face as he was announced the 200,000th graduate,” Professor Dewar said. “He is a hard working individual, who is passionate about his field and always ready to take on the next challenge. He represents what it means to be a La Trobe student.”

Harsha – who moved to Australia from his hometown of Hyderabad – said while leaving his life in India was hard, he felt immensely proud of his decision to study at La Trobe. “It had the subjects that I wanted to do – customer relationship management, dealing with different nationalities and different cultures.”

 

“I love the campus, I love La Trobe. International Business is what attracted me”

 

Harsha aims to continue his career in business and specialise in digital marketing. Since earning his degree, he has landed a Marketing Management internship with Smart Solutions.

 

 

Information in this blog was originally published by LTU News and the LTU Student Blog

Another successful Financial Markets and Corporate Governance Conference

From the 4th till the 7th of April La Trobe Business School hosted the 9th annual Financial Markets and Corporate Governance Conference (FMCG) and associated PhD Symposium.

The conference was supported by Monash University, University of Queensland, Victoria University of Wellington, and the Social Science Research Network (SSRN) and the Pacific Basin Finance Journal (PBFJ).

 

PhD Symposium

The PhD Symposium was a major success with more than 30 PhD candidates from 16 universities from all over the world. LBS PhD Candidate Nader Atawnah won the PhD Symposium Best Paper Award in stream 1: Accounting information/ Disclosure practices/ Earnings quality for his paper “Corporate Tax Avoidance and Foreign Competition: Evidence from Industry – Level Import Data”.

Nader Atawnah receiving his PhD Symposium Best Paper Award.

 

Other PHD candidates that won a PhD Symposium Best Paper Award were:

 Bharat Raj Parajuli from the University of Utah – Asset Pricing/Emerging Markets /Financial Markets/Market Microstructure.

 

Tom Stannard from Victoria University of Wellington – Banking/Behavioural Finance/Corporate Finance/Financial Economics.

 

 Hasibul Chowdhury from University of Queensland – Corporate Governance/Social Responsibility.

 

Chanyuan (Georgina) GE from Macquarie University – Funds Management/Risk Management/Quantitative Finance.

 

Conference

More than 100 researchers from all over the world presented papers at the 9th annual Financial Markets and Corporate Governance Conference (FMCG). Presentations were given in the following streams:

  • Accounting information/ Disclosure practices/ Earnings quality
  • Asset pricing/ Emerging markets/ Financial markets/ Market microstructure
  • Banking/ Behavioural finance/ Corporate finance/ Financial economics
  • Corporate governance/ Social responsibility
  • Funds management/ Risk management/ Quantitative finance

Keynote speakers included world-renowned academics such as Professors Robert Faff, Ron Masulis, Tom Smith and Avanidhar Subrahmanyam.

 

Keynote speaker Professor Avanidhar Subrahmanyam from the UCLA Anderson School of Management

 

Researchers that won a Best Paper Award were:

Ankit Jain from the Indian School of Business (ISB) in Hyderabad – Accounting Information/ Disclosure Practices/Earnings Quality

 

 Ying Dou from Monash University, Jason Zein and Ronald W. Masulis, both from the University of New South Wales – Banking/Behavioural Finance/Corporate Finance/Financial Economics.

 

Md Emdadul Islam and Jason Zein, both from the University of New South Wales – Corporate Governance/Social Responsibility

 

Conference Dinner

The Conference Dinner was held at the Melbourne Aquarium and included an industry-focused keynote by James Fazzino. James joined La Trobe as a Vice Chancellor’s Fellow in November last year. Prior to this, he was the CEO of Incitec Pivot. The keynote focused on the strategic takeover of Dyno Nobel and its impact on Incitec Pivot´s value.

James Fazzino giving his Keynote

 

The evening also saw Professor Stephen Brown and Professor Ferdinand Gul recognized for their outstanding achievements. Professor Stephen Brown was recognised for his work in theoretical and empirical research in finance and Professor Ferdinand Gul in empirical research in auditing and assurance.

Professor Stephen Brown receiving his Lifetime Achievement Award

 

Professor Ferdinand Gul receiving his Lifetime Achievement Award

 

Founder of the Financial Markets and Corporate Governance Conference and Conference Chair, LBS Professor Balasingham Balachandran finished the evening with a walk through history from FMCG’s humble beginnings all the way up the current 9th year. His thank you address focused on the participants that make the conference each year even more successful.

Founder of FMCG & LBS Professor Balasingham Balachandran

Why risk management is so crucial for entrepreneurs and the start-up economy

Traditionally business risk management has been used to reduce and better understand the likelihood and uncertainty various ‘events’ can have on businesses achieving their objectives e.g. financial uncertainty, legal liabilities, strategic management decisions, cyber threats, accidents, natural disasters and business continuity etc. Increasingly, however, business risk methods are being incorporated into new start-up sciences, business design and prototype testing for new ideas, products and services well before firms go to market. Application of these risk based start-up sciences is also a key strategy to help new start-ups attract potential investors by minimising investor risk.

 

The global business environment is being driven by new digital technologies and disruption. This includes 3D printing, quantum computing, blockchain, artificial intelligence and new platform economics led by Facebook, Google, Uber, and Alibaba etc. (see Klaus Schwab, 2016, The Fourth Industrial Revolution). It continues to be a problem, however, that a lot of entrepreneurs and start-ups fail because they do not clearly understand the ‘risks’ associated with their business proposition from the start. In this context they waste time, money, resources and effort building the wrong product or service for the wrong market at the wrong time.

 

So increasingly building a successful product and business is essentially about risk mitigation and systematically de-risking your business model overtime by identifying and testing the problem your product or service is attempting to solve. Applying more rigorous start-up scientist helps reduce the ‘risk ‘of business failure. The approach requires you to develop a feasible solution and prototypes and to try out on consumers to give feedback before launching the final product to the market. Start-up sciences include Design Thinking, Lean Canvas and Innovator’s Method etc. to reduce risks and manage uncertainty across the key end-to-end start-up design process.

For example, in 2012, Ash Maurya redesigned Osterwalder’s earlier Business Model Canvas to develop his Lean Canvas idea.  The Business Model Canvas provided a template describing nine essential elements of an existing business: customer segments, value propositions, channels, customer relationships, revenue streams, resources, activities, partnerships, and costs. Maurya’s Lean Canvas is a one-page business modelling tool that helps increase the probability of success by starting with the customer and using information or data derived from business-model hypotheses to lower risk and reduce uncertainty.

 

At the La Trobe Business School/NORTH Link National Innovation Forum held in September 2017 a number of business leaders, consulting firms and academics came together to discuss Australia’s innovation system and how to increase innovation particularly for start-ups and SMEs. Several of the presentations chose to focus on the use of start-up science as a means to reduce business risk and manage business uncertainty.

For example, Antonio Palanca, CEO and Co-Founder of the HiveXchange presented a case study on his business, which has created a new form of business-to-business e-commerce called trust-based e-commerce, which is designed specifically to meet the challenges in perishable produce supply chains. Palanca described the company’s journey and how the use of Lean Canvas methodology shaped field experiments and prototypes to reveal problems early that became the foundation of HiveXchange’s trust based e-commerce software. Palanca explained that the benefit of this approach was that as you go through the stages you reduce risk and therefore become more attractive to investors and you can drive more commercial innovation on a global scale.

Similarly, Christine Axton, Director in Monitor Deloitte’s strategy practice, presented a short overview the innovator’s method and illustrated its application in a case study. Based on the work of Nathan Furr and Jeff Dyer (2014) the innovator’s method is designed to help firms to specifically manage uncertainty in the innovation process. The innovator’s method offers a set of tools and methods to consider and test uncertainty at each of the end-to-end innovation process steps.

Several other presenters at the Forum referenced Eric Ries’ book The Lean Start-up: Creating Growth through Innovation, as a major influence on their business or teaching practice. The thrust of Ries’ book is that start-ups tend to be much higher-risk endeavours than they need to be because they build elaborate products before testing them with consumers. Applying Ries’ build, measure lean-loop, allows firms to reduce waste, optimise production processes and find out what their customers really want before they go to market.

 

What the above illustrates is that the traditional application of business risk methods and tools are changing. The future of business risk management is no longer just seen as a method to identify, assess and control threats to an existing firm’s systems, people, capital and earnings.  It is increasingly used as a key part of the start-up science that is nurturing a new generation of start-up businesses and de-risk businesses overtime.

This Blog is written by Dr Mark Cloney and originally published in Risk Management Institute of Australasia (RMIA), The Risk Magazine, No.3, March 2018, p.20. Read the full magazine here.

Mark is Professor of Practice in Economics at the LBS. Prior to joining La Trobe University, Mark was the senior executive officer responsible for enterprises’ risk management, business planning, audit and protective security in the Commonwealth Department of Agriculture and Water. Mark teaches in the economics discipline and risk management practice.

La Trobe Business School’s Entrepreneurship Research Excellence Award

Recently the 2018 Australian Centre for Entrepreneurship Research Exchange (ACERE) took place at the Queensland University of Technology in Brisbane. The research study, “Bricolage, Speed to Market, and Internationalisation: The Contradictory Role of Hierarchy in Entrepreneurial Ventures” by Prof. Tobias Kollman, Dr. Christoph Stochmann and M.Sc. Simon Hensellek was awarded the “La Trobe Business School’s Best Paper on International Entrepreneurship”. The paper examines the relationship between the way start-ups use their scarce resources in the course of internationalisation as well as the influence of their internal structure on this relationship. The recipients are from the University of Duisburg-Essen, Germany.

Best Paper on International Entrepreneurship award

 

ACERE is the leading Australian Research Exchange, and attracted International Keynotes including Johan Wiklund, Dean Shepherd, Ted Baker, Sam Gosling, Michal Kosinski and Andres Schwab. LBS Professor of Entrepreneurship, Alex Maritz, is a foundation committee member of ACERE. At the 2018 event, it was announced that Associate Professor Martin Obshonka takes over the reigns as Director of the Australian Centre for Entrepreneurship, a position previously held by renowned Professor Per Davidson. Martin has a close association with LBS, and is an External Supervisor for LBS Entrepreneurship PhD student, Ana Amisardari.

 

Professor Alex Maritz presenting the best paper award to Simon Hensellek

LBS in support of International Women’s Day

Last week, on the 8th of March, it was International Women’s Day. La Trobe Business School took part in several events that day.

ATEM Breakfast Series

The Association for Tertiary Education Management (ATEM) organised an International Women’s Day Breakfast with guest speaker Freda Miriklis.

Freda spoke about the Sustainable Development Goals (SDG), and specifically Women’s Empowerment Principles, which relates to SDG number 5: Achieving gender equality and empower all women and girls.

The Women’s Empowerment Principles are:

  1. Establish high-level corporate leadership for gender equality
  2. Treat all women and men fairly at work – respect and support human rights and non-discrimination
  3. Ensure the health, safety and well-being of all women and men workers
  4. Promote education, training and professional development for women
  5. Implement enterprise development, supply chain and marketing practices that empower women
  6. Promote equality through community initiatives and advocacy
  7. Measure and publicly report on progress to achieve gender equality
LBS staff members attending ATEM’s  International Women’s Day Breakfast

IPAA International Women’s Day event

Institute of Public Administration Australia (IPAA) organised an IWD Dinner to celebrate the contribution that women make to the public sector and to commit to the actions that will build greater gender equity in the sector.

Special guest speaker was Emeritus Professor Gillian Triggs, President of the Australian Human Rights Commission from 2012-2017.

As head of the Australian Human Rights Commission, she led a number of high profile inquiries, including an examination of the impact of prolonged immigration detention on children, and consistently championed the need for a system of checks and balances to protect the most vulnerable people in our community.

Professor Gillian Triggs giving her keynote speech

 

Gillian was the keynote speaker to the event and talked about her time in the Human Rights Commission. Specifically, how she was able to be resilient in a male dominated environment whilst having the media constantly mocking her. The event also included a panel discussion on each Woman’s career and obstacles faced along with life lessons and the next generation of women entering the workforce.

The panel facilitator was Penny Burke, CEO of Essence Communication. Penny is an accomplished public speaker who has worked in the field of marketing and advertising for over 20 years and has worked on many inspiring and well-known advertising campaigns. Penny’s experience has led her to become a thought leader and an expert in Commitment.

Inala Cooper, Lifelong Fellowship Lead, Atlantic Fellows for Social Equity, University of Melbourne, was a panellist. Inala is a Yawuru woman from Broome in The Kimberley, WA. Born in Victoria, she grew up in the South West on Gunditjmara land and has lived on the land of the Kulin Nations here in Melbourne for over 20 years.
Inala has a Masters in Human Rights Law and is an advocate for Indigenous rights and social justice. She encourages young Indigenous people to connect with their culture and find strength in their identities.

Gill Callister, Secretary of the Department of Education and Training, hosted the event. Gill is directly responsible for management of the Department to deliver and improve early childhood, school education, and vocational and higher education services across Victoria. Gill is also President of the Institute of Public Administration Australia (Victoria).

LBS staff members attending IPAA’s International Women’s day event
 

Disruptive Innovation – What is it all about?

La Trobe Business School recently had the pleasure of hosting Prof Dr Markus Münter from Hochschule für Technik und Wirtschaft (htw saar), Saarbrücken, Germany. Professor Münter is the Chair of Microeconomics, Strategy and Entrepreneurship at htw saar, and built on previous collaboration initiatives between Dr Alex Maritz, Professor of Entrepreneurship at LBS. The duo has previously hosted Google Start-up weekends in Europe, together with initiatives at various start-up incubators and accelerators.

 

Prof Dr Alex Maritz and Prof Dr Markus Münter

 

During his visit, Professor Münter enhanced research and engagement activities at La Trobe Business School, and in particular, presented his internationally renowned work on Disruptive Innovation to LTU’s PhD students, MBA students and Accelerator participants. He informed that disruptive theory is in danger of becoming a victim of its own success. Despite broad dissemination, theory’s core concepts have been widely misunderstood and its basic tenants misapplied. He demystified this by providing inferences from an economics of disruption perspective. He explained disruption from the context of technology regimes, origins of new knowledge and impact of firms and market structures. From a pragmatic perspective, he provided a galley of disruptive technologies, such as mobile internet, advanced robotics, automation of knowledge, AI, and next generation genomics. He specifically demonstrated disruptive innovation nuances applicable to entrepreneurs and start-ups, identifying disruptors such as airbnb, spotify, UBER, Netflix, WhatsApp and Alibaba.

Professor Münter has kindly made one of his presentations available here

 

La Trobe Business School – End of Year party

Last week, December 13, all LBS staff and PhD Candidates were invited to Plaka Greek Restaurant for the La Trobe Business School End of Year Function.

Even though it was a typical Australian, scorching hot and 37-degree day, the Christmas cheer was all around. It was an afternoon filled with music, singing, laughter, good company and nice food. It was also great to see staff from the regional campuses joining the party.

The music was provided by Decky Music Band, with our own Dr. Marthin Nanere on the guitar & harmonica. 

Some staff dressed up in Christmas-themed attire, wearing Santa hats.

Throughout the afternoon, several groups joined the band on stage to sing some great Christmas classics.

The department of Entrepreneurship, Innovation and Marketing teamed up with the Department of Management, Sport and Tourism and sang Feliz Navidad together.

The LBS admin team seemed to have some true singers in the making among their team and did a great job performing their songs.

And the executive team also joined in for a song.

The La Trobe Business School wishes everybody a very Merry Christmas and a Happy New Year! Thank you for all your effort and hard work over 2017.

LBS Staff Awards

La Trobe Business School held its end of Year Forum on December 13. An important part of the End of Year Forum were the LBS Research Awards and LBS Awards presented to outstanding staff members of the school.

 

Professor Kamran Ahmed presented the LBS Research Awards.

The first award went to Esin Ozdil. Esin was awarded the Early Career Researcher Award for her contribution to the study of Accounting, and particularly her innovative work in examining Accounting in the Public Sector.

Dr. Esin Ozdil receiving her Early Career Researcher Award

Lily Nguyen was awarded the Mid Career Research Award in recognition of her important contribution to the study of corporate innovation, institutional investors and corporate disclosure.

Dr. Lily Nguyen receiving her Mid Career Research Award

Jointly receiving the Mid career researcher award was Jennifer Laing for her outstanding contribution to the study of tourism, and particularly the study of Travel Narratives, the Social Dimension of Events, Rural and Regional Development and Health and Wellness Tourism. Jennifer was also awarded the Excellence in Higher Degree Research Supervision Award.

 

Dr. Jennifer Laing receiving her Mid Career Research Award

The LBS Awards, focusing on staff’s contribution to the School’s mission: “Being Responsible, Innovative & Engaged”, were presented by Professor Jane Hamilton.

The first award went to Mark Cloney, in recognition of his leadership of the National Innovation Forum and in raising the profile of the LBS.

The next LBS Award went to Nicola McNeil. While on a well-deserved holiday, she was awarded for her outstanding commitment to the School and her positive contribution the School’s culture and mission.

Dr. Mark Cloney receiving his LBS Award

Swati Nagpal received the LBS Award in recognition of her continual support of the PRME initiative, organizing a community of practice of multi-disciplinary staff to build Responsible Management in line with our mission, and in maintaining our status as an Australian ‘PRME Champion’

Dr. Swati Nagpal receiving her LBS Award

The next LBS award was for Kok-Leong Ong for his outstanding commitment to the Analytics programs and the overall student experience.

Dr. Kok-Leong Ong receiving his LBS Award

Paul Strickland won the LBS Award in recognition of his unwavering support to students during the departmental Study Tour along with his work in the development of the SIM partnership.

Paul Strickland receiving his LBS Award

Last but definitely not least, Belinda Westerlo was awarded the LBS award in recognition of her engagement, dedication and outstanding level of support provided to both staff and students in the school.

Belinda Westerlo receiving her LBS Award

Congratulations to all these outstanding staff members of the LBS!

Will robots take our jobs?

Find out more about how the digital disruption will affect the future of work at our upcoming La Trobe Business School Alumni Event with Dr McKenzie.

This article was first published on Nest, a haven of new ideas for people who are all kinds of clever. Read the original article.

Technology advances are rapidly changing the world of work as we know it.

PwC predicts 44 per cent (5.1 million) of current Australian jobs are at high risk of being affected by computerisation and technology over the next 20 years. ‘By “high risk”’ the PwC report clarifies ‘we mean there’s a greater than 70 per cent chance the job could be automated by technology’.

La Trobe Futurist Dr Fiona McKenzie discusses the challenges and opportunities of digital disruption in the future workforce, and how we can adapt.

What jobs will become automated?

The 2015 PwC report says jobs most likely to be affected are those where computer learning systems or robotics are able to perform simple and routine tasks faster and more accurately than humans. ‘These typically include unskilled or low-skilled activities in offices, factories and shops,’ it states.

Dr McKenzie says we’re already seeing the seeds of automation in our neighbouring countries. ‘There’s change happening in the manufacturing space with automated robots and co-bots (collaborative robots), which are potentially going to totally change the garment industry and affect employment for millions and millions of people in Asia.’

‘What’s interesting,’ Dr McKenzie further points out, ‘is that people in mid-level jobs are now starting to feel the pinch too.

‘People thought skilled-labour would be safe from automation but in actual fact there are developments where relatively sophisticated tasks can now be automated too.’

Dr McKenzie says ‘I’m hesitant to say whole sectors’ will be automated or safe from automation. Rather, ‘there will be chunks of every sector that will change.’

Roles that require creative thinking, emotional intelligence, intuition and ‘all those things that humans have the advantage on’ will be safe in the near future. As will jobs that require human, face-to-face interactions, such as those in the healthcare sector.

What opportunities can digital disruption offer?

‘We tend to fear that what we don’t know, but automation creates a whole opportunity for something else to be augmented,’ explains Dr McKenzie.

For example, a nurse whose job is to deliver food to patients may find there’s an automated delivery cart that can soon do just that. ‘This can create the opportunity for the nurse to spend more time sitting with the patient, measuring blood pressure and providing better care,’ Dr McKenzie says, ‘and in fact Sydney’s Royal North Shore Hospital introduced automated guided vehicles to move linen and food back in 2012’.

The advent of the internet and the ability to instantly connect with others across the globe has also enabled the rise of ‘digital nomads’ and freelancers to work from anywhere in the world for anyone in the world.

CSIRO’s recent report into ‘Tomorrow’s digitally enabled workforce’ ‘identifies plausible [future] scenarios via which the many – possibly most – Australian workers become portfolio workers and freelancers’.

Dr McKenzie says, ‘There’s a huge cohort that will be highly skilled, in demand and able to shape their future – and they’ll flourish in this environment.

‘There’ll be lots of opportunities in terms of entrepreneurialism, portfolio work, creating your own identity, being able to work around the world and doing work you’re interested in rather than being tied to one job.’

The rise of portfolio work and the gig economy could mean people can choose flexible work like nights, weekends and part-time, which could be particularly beneficial to parents.

It could also open up more doors for rural dwellers to work remotely for urban and international companies.

The dark side of the precariat workforce

The flipside of the rise of the precariat workforce – that is a working class characterised by ‘precarious work’ – could be that lack of job security increases stress and anxiety for some.

‘The precariat, that concept of “the new vulnerable” in the workplace is important to pay attention to because it is potentially a large cohort of people, says Dr McKenzie.

‘People may feel unsafe, they may feel insecure and like the economy is not ticking along. That plays out in all sorts of ways in politics and society and mental health.’

Dr McKenzie also wonders: ‘If we’re all working in a gig economy, what happens if we don’t have employment contracts and super?’ There’s talk of basic universal income, but we’re yet to know how that might play out.

Similarly, for an aging workforce expected to work into their 70s, Dr McKenzie says we might need to challenge assumptions and paradigms around retirement. People in this age-group might work on a semi-retired basis, they could work as business mentors, or perhaps unpaid roles like childcare and volunteering that this cohort regularly partake in will become financially rewarded roles.

The blurring of work boundaries that means we can potentially work remotely for overseas organisations, could also mean a lot of home-grown jobs are taken offshore.

In 2012, every third adult in OECD countries had a tertiary degree reports CSIRO. ‘That’s a massive cohort of young people coming through with higher education degrees worldwide, and what does that mean if work is more mobile?’ asks Dr McKenzie. Answer: competition for work increases.

How can we prepare for the future workplace?

To make the Australian economy and Australian workers competitive in the future, Dr McKenzie says we need to look at ‘how we can be the best in the world at the different industries we have and make sure we are winning jobs as well.’

Ultimately, Dr McKenzie says it’s less about the pace of digital disruption, and more about how quickly we respond to it. Dr McKenzie asks whether governments and others ‘will choose to be leaders on this or wait to react.’

‘The important point is that it’s not small. If you think about the Great Depression, unemployment was only around 25 per cent and here we’re talking about 44 per cent of jobs at risk.

‘We’re at six per cent unemployment and it doesn’t take a big shift in unemployment for people to really feel the impact. I hope we’ll all be proactive on this one.’

Find out more about how the digital disruption will affect the future of work at our upcoming La Trobe Business School Alumni Event with Dr McKenzie.

 

LBS Alumni Event: The changing nature of work

We are living in a time where businesses are influenced by massive digital disruption and are taking the opportunity to expand globally. This often requires entire business process transform and jobs performed by people to be redefined.

Join us as leading expert in the changing nature of work Dr Fiona McKenzie, discusses how business leaders can prepare for the future, and the skills required to take advantage of new opportunities.

About the speaker

Dr Fiona McKenzie, Co-Founder and Director of Strategy, Australian Futures Project: Dr Fiona McKenzie is a human geographer with a PhD on innovation and expertise in both public policy and academic research. At the Australian Futures Project, Fiona has led the design and implementation of a range of unique programs, including social innovation labs.

Panel Event

Date: Wednesday 25 October 2017

Time: 5:45pm – Arrival, 6:00pm – Presentation, followed by Q&As, 7:30pm – 8:30pm Networking, canapes and drinks

Venue: La Trobe University City Campus, Level 20, 360 Collins Street, Melbourne

Cost: Free

Register: Please register via the corresponding event page. Please RSVP by Friday 20 October.

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