2012 CVS Caremark Charity Classic to kick off next month with new format
WOONSOCKET, R.I. — CVS Caremark, along with CVS Charity Classic co-hosts Brad Faxon and Billy Andrade, unveiled on Monday the field for the Charity Classic’s 14th anniversary edition.
This year, the annual golf tournament is scheduled for June 17 to 19 at the Rhode Island Country Club and will benefit numerous regional charities. It once again will draw a roster of elite PGA, LPGA and Champions Tour professionals. Making her inaugural appearance this year is Yani Tseng, who has held the top spot in the LPGA for more than one year.
Tournament week begins with the Pepsi Pro-Am on June 17 followed by the two-day tournament on June 18 and 19 at the Rhode Island Country Club. The tournament format this year, however, will be slightly altered for 2012 — Tuesday’s play being changed to a scramble format. The Pepsi Max Shootout, where the first-place team from both the Pepsi Pro-Am morning and afternoon rounds compete in a playoff during Monday’s professional tournament, is back for 2012. In addition, the pros will be competing for designated charities in the annual charity closest to the pin contest, CVS Caremark said.
During the last 14 years, the CVS Caremark Charity Classic has raised $15 million for charities around the region, providing vital funding for a variety of critical programs serving children, families and people in transition throughout southeastern New England, the company said.
"The CVS Caremark Charity Classic brings an unmatched level of professional golf and excitement to Rhode Island, all to support the vital work of our non profit partners across the region," CVS Caremark Charity Classic tournament chairwoman Eileen Howard Boone said. "We’re proud to have given back more than $15 million to hundreds of worthwhile charities and we salute the thousands of volunteers from our charity partners who make this tournament a success for fans and their organizations alike."
More than 29 million U.S. adults have asthma, CDC report finds
ATLANTA — Asthma is having a growing effect on the country’s health, according to a new study.
The Centers for Disease Control and Prevention released its "Asthma’s Impact on the Nation" report Wednesday, based on data gathered using the "Asthma Call-back Survey" of people with the disease. An estimated 29.1 million American adults, or 12.7% of the total, have been diagnosed with asthma in their lifetimes, while 18.7 million, or 8.2%, still had asthma in 2010.
"The information in this release is a stark reminder that asthma continues to be a major public health concern with a large financial impact on families, the nation and our healthcare system," CDC National Center for Environmental Health and the Agency for Toxic Substances and Disease Registry director Christopher Portier said. "A key component for adults and children is to create and follow an asthma action plan. Significantly, this analysis reveals that more than half of all children and more than two-thirds of all adults with asthma do not have an individualized action plan. CDC encourages those with asthma to work with their doctors to take control of this disease."
Also, according to the report, 10.1 million children, or 13.6% of the total, had been diagnosed with asthma in their lifetimes, and 7 million, or 9.4%, still had it; asthma attacks among children ages 5 to 17 years resulted in 10.5 million missed days of school in 2008. The proportion of people with the disease increased by 14.8% between 2001 and 2010.
Retailers more concerned over impact of rising gas prices versus unemployment
CHICAGO — Concern over rising fuel prices has eclipsed unemployment — the leading worry since 2009 — as the No. 1 factor that keeps retailers up at night, according to a study released by BDO USA on Monday, though the current uptick in consumer spending somewhat alleviates that concern. "Despite a dip in April, consumer spending has been improving, and retail executives feel that their strategy adjustments are on point," stated Doug Hart, partner in the Retail and Consumer Products Practice at BDO USA. "While retailers are also concerned about gas prices this summer, they are otherwise encouraged by consumer spending."
Positive sales results in the first quarter have left retailers feeling more confident about consumer spending. Concerns over consumer confidence still linger in 10-Ks for 81% of retailers, but are stabilizing following a peak in 2010. Risks associated with demand and the ability to stay up to date with consumer trends also are on the decline (83% versus 87% in 2011).
Of the 99% of retailers citing general economic conditions as a risk, 71% identified escalating fuel prices as a primary reason behind that concern, up from 58% last year. With tepid progress in job reports, 68% of retailers note lingering concerns over unemployment, but that risk is down from its peak in 2010 (70%).
The "2012 BDO Risk Factor Report for Retail Businesses" — which examines the risk factors listed in the most recent Securities and Exchange Commission 10-K filings of the largest 100 public U.S. retailers — also found that information-technology infrastructure and security risks have increased, partially due to growth of the mobile platform. This year, concerns over the maintenance of IT systems and operations leapt from the 12th most cited risk factor to the sixth. Following the significant data breach at Global Payments, security risks jumped 31% from the 19th most cited risk factor to the 12th.
And as retailers have more data than ever to protect and increasing endpoints due to the increased use of mobile devices, business interruption risks also are more worrisome. Retailers also reported heightened concerns over geopolitical events and natural disasters, which moved from the ninth most cited risk factor to the fifth, largely due to the Japanese tsunami and volatility in the Middle East, BDO reported.
Supply risks also remain a significant focus for retailers, according to the report. For the third year in a row, U.S. and foreign supplier and vendor concerns are the second most commonly cited risk factor. Rises in China sourcing costs and volatile foreign currency exchange rates contribute to these concerns. Among retailers who noted supply risks, 81% of companies specify pricing pressures as a key factor of their concern. For retailers sourcing internationally, currency risk also is a mounting issue, with 56% of retailers citing it as one of their top economic concerns. This marks a significant jump from 2011 (27%).
Risks associated with U.S. growth and expansion are at the lowest levels since the start of the study in 2006. Just 46% of retailers note concern over U.S. expansion, an indicator of softness in the retail real estate market and modest store expansion plans as commerce gradually shifts to the Internet. However, as the industry becomes increasingly global, international operations risks continue to be top of mind. A vast majority of retailers (68%) cite international risks as political turmoil and the European debt crisis impact sales, vendors and distribution channels.
And despite the election year, retailers are less concerned about government regulation. As the conversation in Congress shifts from corporate taxes to individual taxes, government regulation risks eased with 85% of retailers noting concern over regulations, down from 92% in 2011. Risks associated with accounting standards also tempered.