The return on this investment isn’t measured in dollars

It was the moment that changed his life, so much so that he now visits the region six times a year.

Michael Waring, chief executive of Galileo Equity Advisors, came across dire poverty for the first time when he was on a research trip to China in 1998. “We were near the Great Wall and a five year old was trying to sell us postcards and brochures. She was in rough shape,” said Waring, who decided he “had to do something in Asia.”

In those early days, Waring was largely involved with sponsoring children through regular payments.

A decade later, while again on a business trip, Waring visited Cambodia and reached the same conclusion: “I had to do something. The country has great potential because of its youth (60 per cent of the population is under 25) but if they don’t get an education, there’s no future.”

Schools

Waring built two schools, both equipped with solar panels, libraries and computer labs: The first is for kids from kindergarten to Grade Six; the other for kids in Grades Seven to Nine. More than 700 kids attend the schools in the Siem Bap region.

In 2009, Waring visited Vietnam. “If the world was ending, I wanted to see the minority kids in Sa Pa, an area in northwest Vietnam,” he said. He noted living conditions for the Hmong people “are probably worse than in Cambodia,” largely because of the cold winters, inadequate housing and sanitation.

“If lucky they may get protein twice a month. The kids are neglected.”

Waring has since built 23 houses in that part of Vietnam and supported the education of five girls all of whom are halfway through college in Hanoi.

In the adjacent Ha Giang province, Waring has also been busy with building kindergartens, schools, foot bridges as well as providing livestock for families — as part of an eight-year commitment he made to the region.

Charity and partners

To help with all the organization, in 2011 Waring formed Kids in Class, a charity whose mission is “working to improve the lives of children in developing countries.” He funded the organization with $2 million, profits made from an investment in a private oil and gas company. He teamed up with Plan International Canada, an international development organization that spent more than $150 million on international programs in 2016.

Plan determines the priorities based “on the children but especially girls,” who are the focus of Kids in Class.

“They have the worst deal,” said Waring, adding working with Plan International means the money flows directly to the projects with no leakage.

He also teamed up with TD Waterhouse Private Giving Foundation (home to about $300 million of assets) which manages the investments. Income earned by the endowment (about $100,000 a year) is earmarked solely for Plan Canada.

“We don’t spend any of the principal. The idea is for the charity to go on long after I am gone,” said Waring, whose ability to do more would be improved by a stronger Canadian dollar.

Waring will soon be returning to Cambodia to build community projects near the schools. “We will be working on clean sanitation and clean water. In supporting the community, we have to ensure the kids are healthy and can go to school.”

So, what’s his motivation? “As a parent, I feel a responsibility to these children who were born into a different world. I have two children who were lucky enough to be born in Toronto.”

As well Waring gets enormous satisfaction from the hundreds of photographs, mostly of young kids on the way to school, at school, or at play, that are housed on his trusty ipad.

Financial Post

bcritchley@nationalpost.com

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That’s up from 52 percent on November 6, indicating iOS 11 adoption has grown just 7 percentage points over the course of the last month.



33 percent of iPhones, iPads, and iPod touch devices continues to run iOS 10, while 8 percent of devices run a version of iOS earlier than iOS 10.

iOS 11 adoption has been slower than iOS 10 adoption. Based on Apple’s official App Store numbers, for example, iOS 10 was installed on 54 percent of devices in October, a month after the operating system had been released. Comparatively, iOS 11 was only at 52 percent in November, a month and a half after launch.

Apple has already released several updates for iOS 11, but that doesn’t seem to have improved installation rates, especially as many of those updates have been made available to address major bugs found in the operating system.

Over the weekend, Apple released iOS 11.2, the second major update to iOS 11. iOS 11.2 introduced Apple Pay Cash in the United States, but the update was released early to fix a date bug that was causing crashes on December 2. As a result, Apple Pay Cash was not initially available and wasn’t provided to customers until yesterday.

With Apple Pay Cash now available, though, customers who have been reluctant to upgrade may install the iOS 11.2 update to access the new feature, so it’s possible we’ll start seeing improved installation rates in Apple’s next App Store support page update.

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B.C. Releases Plan For Legal Marijuana

Joints are displayed for sale during the annual 4/20 cannabis culture celebration at Sunset Beach in Vancouver on April 20, 2017.

VICTORIA — British Columbia has become the latest province to outline its plan for regulating recreational marijuana, announcing Tuesday that pot sales would be allowed through both public and private stores to buyers who are at least 19 years old.

The age of consumption, purchase and possession of marijuana will be consistent with alcohol and tobacco laws, Solicitor General Mike Farnworth said in a news release.

The government wants to protect young people, prioritize health, keep criminals out of the industry and maintain road safety, he said.

Almost 50,000 residents and 141 local and Indigenous governments made submissions during a provincial government consultation period ahead of the federal government’s legalization of non-medical cannabis in July.

‘Made-in-B.C. approach’

“We will continue to consider your opinions as we further develop policy and legislation that is in the best interests of this province, ensuring a made-in-B.C. approach to the legalization of non-medical cannabis,” Farnworth said.

The Alliance of Beverage Licensees, which represents B.C.’s private liquor industry, applauded the decision to give the government’s liquor distribution branch responsibility for warehousing and distributing non-medical cannabis.

A woman smokes a joint during the annual 4/20 cannabis culture celebration at Sunset Beach in Vancouver on April 20, 2017.

Chief executive Jeff Guignard said the decision is the most efficient and cost-effective way to meet the federal government’s July deadline for legalization.

“We believe our decades of experience retailing a controlled substance safely … and our demonstrated history of complying with a rigorous enforcement and inspection regime make us uniquely suited to retail adult-use recreational cannabis in B.C.,” Guignard said.

The move also won support from the union representing workers at the liquor distribution branch.

Concern about impact on young people

A report released along with British Columbia’s announcement says many people expressed concern about the impact of cannabis on brain development for those under 25.

“Many of those who commented advocated for public awareness initiatives to educate youth, young adults and parents about the potential impacts of cannabis use on the developing brain,” the report says.

There were also polarized views on drug-impaired driving. Some want zero tolerance while others said cannabis doesn’t impact the ability to drive, the report says.

Watch: 20,000 Vancouverites light up for 4/20

I​​​​​​t says there was some confusion among consultation participants on the distribution and retails sales of marijuana, but many opposed Ontario’s model for distribution and retail.

“Most of these individuals preferred to see the existing dispensaries and their supply chain legitimized, licensed and regulated,” it says.

Ontario intends to sell the drug in up to 150 stores run by the Liquor Control Board of Ontario and ban consumption in public spaces or workplaces.

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The report says two points emerged on public consumption: People don’t want to be subjected to second-hand cannabis smoke in public places and they want cannabis consumption limited to indoor use at a private residence or a designated consumption space.

The B.C. regulations come after most other provinces and territories have released their plans on the sale, distribution and consumption of marijuana.

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