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Are bigger super funds better? Actually no, despite what the industry is doing

<p><a href="https://theconversation.com/profiles/geoff-warren-3657">G<em>eoff Warren</em></a><em>, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em></p> <p>Australia’s superannuation funds are getting bigger – and fewer. There were <a href="https://www.theguardian.com/australia-news/2021/aug/29/australian-superannuation-mergers-cut-number-of-funds-by-half-in-a-decade">close to 400</a> funds in 2010. With mergers, it’s now <a href="https://www.investordaily.com.au/superannuation/53144-are-mega-funds-poised-to-dominate-the-super-industry">closer to 120</a>. By 2025, according to industry executives surveyed last year, there will be <a href="https://www.investordaily.com.au/superannuation/50971-rise-of-mega-funds-set-to-intensify-erasing-100-funds-by-2025">fewer than 50</a>.</p> <p>The portfolios of the two biggest super funds, AustralianSuper and Australian Retirement Trust, are bigger than even the federal government’s Future Fund Management Agency, which oversees the A$194 billion <a href="https://yearinreviewfy22.futurefund.gov.au/performance-results.html">Future Fund</a> and several other funds worth a total $242 billion.</p> <hr /> <p><iframe id="0wOBb" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/0wOBb/5/" width="100%" height="400px" frameborder="0"></iframe></p> <hr /> <p>Underpinning this consolidation is the idea that larger scale is beneficial for superannuation fund members. But that’s not necessarily true. A bigger fund is no guarantee of better returns.</p> <p>I’ve examined the issue of fund scale with Scott Lawrence, an investment manager with 35 year’s industry experience. Together we’ve written <a href="https://theconexusinstitute.org.au/wp-content/uploads/2023/03/Does-Size-Benefit-Super-Fund-Members-24-March-2023.pdf">a report</a> for the Conexus Institute, an independent research centre focused on superannuation issues.</p> <p>Our conclusion: funds, large and small alike, succeed or fail depending on how well they formulate and execute their strategies.</p> <h2>Managing assets in-house</h2> <p>The first potential benefit of bigger size is that funds can manage assets using their own dedicated investment professionals, rather than outsourcing everything to external investment managers to invest on their behalf.</p> <p>For example, UniSuper (the higher education industry fund) manages <a href="https://www.unisuper.com.au/investments/how-we-invest/investment-managers">70% of assets in-house</a>. AustralianSuper, with more than double UniSuper’s assets, manages <a href="https://www.australiansuper.com/-/media/australian-super/files/about-us/annual-reports/2022-annual-report.pdf">53% of assets</a> in-house.</p> <p>This can be cheaper than paying fees as a percentage of assets to these external providers. It offers more control as the super fund can decide the assets in which they invest, rather than leaving the decision to someone else.</p> <p>But fund members will only benefit if the internal team makes investment decisions that are as good as the service they are replacing. For this reason, there is no reliable correlation between performance and degree of in-house management.</p> <h2>Investing in big-ticket items</h2> <p>The second potential benefit is it becomes more possible to become successful direct investors in “big ticket” assets such as infrastructure and property, instead of just focusing on shares and other assets traded on stock exchanges.</p> <p>For example, AustralianSuper owns <a href="https://www.australiansuper.com/-/media/australian-super/files/about-us/media-releases/australiansuper-increases-investment-in-westconnex.pdf">20.5% of WestConnex</a>, Australia’s biggest infracture project, having contributed $4.2 billion to the consortium that is building the mostly underground toll-road system linking western Sydney motorways.</p> <p>Opportunities like this are easier to access by large funds, and can help to diversify their portfolios.</p> <p>But such direct investment is costlier than buying shares and bonds. This limits the potential for fee reductions.</p> <p>For members to benefit, these investments must deliver attractive returns. This requires a fund developing capability in what are specialised markets. Size alone won’t deliver on its own.</p> <h2>Economies of scale and scope</h2> <p>The third potential benefit is that size brings economies of scale and scope.</p> <p>Scale can reduce fees, by spreading the fund’s fixed costs over a larger member base.</p> <p>Our review of the research literature confirms there are solid reasons to expect administration costs to reduce with size, as well as in-house management reducing investment costs.</p> <hr /> <p><iframe id="26cxr" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/26cxr/3/" width="100%" height="400px" frameborder="0"></iframe></p> <hr /> <p>Economies of scope involve an organisation being able to improve or increase services, say by investing in better systems and more staff.</p> <p>But investing in better systems also brings potential pitfalls. Big visionary projects tend to run over time and over budget, and sometimes fail.</p> <p>An example is the disastrous attempts of five industry funds (AustralianSuper, Cbus Super, HESTA, Hostplus and MTAA Super) to develop a shared administration platform, called Superpartners. It was meant to cost $70 million, but development costs blew out to $250 million before <a href="https://www.investmentmagazine.com.au/2016/12/link-group-completes-superpartners-integration/">they gave up</a>.</p> <h2>Size brings its own challenges</h2> <p>Large funds also face some unique challenges. Because they have more money to invest, they have more work to do in finding sufficient attractive assets to buy.</p> <p>The risk is they need to accept some assets offering low returns to do so. They can also outgrow some market segments, such as owning shares in smaller companies.</p> <p>Large organisations are typically more complex, more bureaucratic and less flexible. They can find it difficult to coordinate staff to work towards a common purpose. These elements may create dysfunction if not managed.</p> <p>This may explain why, despite the potential increased scope of their offerings, surveys suggest large funds tend to deliver <a href="https://www.investmentmagazine.com.au/2022/08/members-willing-to-pay-for-better-service-post-retirement/">less personalised service</a>.</p> <p>So the idea “bigger is better” is not necessarily true. Large size is not an automatic win. Whether the advantages outweigh the disadvantages and challenges ultimately depends on fund trustees and management doing their jobs well so that members benefit.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/203417/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/geoff-warren-3657">Geoff Warren</a>, Associate Professor, College of Business and Economics, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/are-bigger-super-funds-better-actually-no-despite-what-the-industry-is-doing-203417">original article</a>.</em></p>

Retirement Income

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6 ways to make your cruise ship cabin feel bigger

<p>Cruise ship cabins can be pretty snug, so you will want to do everything you can to maximise your space. Here's how.</p> <p><strong>1. Unpack straight away</strong></p> <p>Once you get onboard, you probably want to go and check out the restaurant or have a quick swim. But it’s worth taking the time to completely unpack your bag, make sure all your clothes and extras are neatly stored, and then have your steward put your suitcases away under the bed. You’ll thank us later.</p> <p><strong>2. Keep things neat</strong></p> <p>Nothing makes a room (on land or water) feel smaller than clutter. Take the time to hang your clothes up when you take them off, keep the benches and table tops clear, and try not to throw things on the floor. It will only take a couple of minutes to do it each day and will make all the difference.</p> <p><strong>3. Make use of all the storage</strong></p> <p>You’d be surprised how many little cupboards and hidey holes you’ll find all over your cabin. Check all the benches, cupboards and walls for extra drawers or hooks, and you’ll be able to find a place for everything.</p> <p><strong>4. And bring your own</strong></p> <p>Expert cruisers know to bring along some clever extras to make even more storage space for themselves. Hanging cosmetic bags will keep your bathroom organised and over the door shoe fabric shoe organisers provide lightweight storage space for all your accessories. Most cabin walls are metal, so bring some magnets or magnetic hooks to create your own message board.</p> <p><strong>5. Move the furniture</strong></p> <p>If you’re really serious, you can do a little interior design of your own in the cabin. Most of the furniture is moveable, so you can shuffle around your tables, couches or even the bed to suit your needs. As long as you aren’t blocking a door or walkway, it should be fine.</p> <p><strong>6. Utilise natural light</strong></p> <p>Keep your curtains open to your window or balcony door to make the most of the natural light. You’ll be amazed at how much more spacious it makes the room feel. If you're in an inside cabin, turn on the TV and find the channel showing the bow camera. It will act just like a window!</p> <p><em>Image credits: Getty Images</em></p>

Cruising

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Qantas reports huge loss but even bigger revenue

<p dir="ltr">Qantas CEO Alan Joyce has announced a whopping $1.9 billion loss for the 2022 Financial Year.</p> <p dir="ltr">Following almost two years of next to no flights due to the Covid pandemic, Mr Joyce explained that flights are “all full” as they push to get them out of storage.</p> <p dir="ltr">He however revealed that despite air travel resuming, his company has faced a devastating loss but quite an impressive revenue.</p> <p dir="ltr">“The Group had an underlying loss before tax of almost $1.9 billion, and a statutory loss before tax of just under $1.2 billion,” Mr Joyce said. </p> <p dir="ltr">“That brings our total losses since the start of the pandemic to more than $7 billion and takes lost revenue to more than $25 billion.</p> <p dir="ltr">“To put that in perspective, on a statutory basis, COVID cost us more money in the past three years than we made in the five years before that.</p> <p dir="ltr">“The fact we’ve been able to steer through this is remarkable. And now that we are through it, things are improving even faster than we expected.”</p> <p dir="ltr">Mr Joyce then noted the frustration felt by flyers due to delayed and cancelled flights, lost luggage, and labour shortage.</p> <p dir="ltr">He said that they are working toward improving customers’ experience as leisure flying soared to 125 per cent of pre-Covid levels and business travel to 90 per cent. </p> <p dir="ltr">“As many of you have probably experienced, strong travel demand has also brought some difficulties,” he continued. </p> <p dir="ltr">“We knew the recovery was coming and we were ready for the restart. What we weren’t ready for – after 18 months of COVID being suppressed – was such high levels of community transmission and the sick leave that followed.</p> <p dir="ltr">“The rebound in travel demand also coincided with a massive labour shortage. Of course, that shortage has been more acute in aviation because of how many people left the industry during two very uncertain years.</p> <p dir="ltr">“All of this resulted in well-publicised problems: long queues, delayed flights and misplaced bags.</p> <p dir="ltr">“It was incredibly tough for our people and deeply frustrating for our passengers. It simply wasn’t good enough, and for that, we have apologised.”</p> <p dir="ltr">Mr Joyce revealed that the company has hired more than 1,500 staff since April, with more new recruits to come in the next few months.</p> <p dir="ltr">“We’re reducing our domestic flying – in part – to give us more buffer. We are rostering more crew across fewer flights, which means we can better cover sick leave that is averaging almost 50 per cent above normal,” he continued.</p> <p dir="ltr">“We’re also investing more in technology, including an upgrade to our airport kiosks and bag drop facilities, as well as new scanners at boarding gates.”</p> <p dir="ltr"><em>Image: Getty</em></p>

Travel Trouble

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Hugh Jackman's NYC "triplex" attracts big looks and bigger bucks

<p>Hugh Jackman has listed his beautiful New York City apartment for sale.</p> <p>The five-bedroom West Village ‘triplex’ – a dwelling composed of three units – has just hit the market for $US38.9 million (A$56.1m).</p> <p>The seven-bathroom pad boasts more than 1,020 square metres of floor space and has stunning views over the nearby Hudson River and the city itself. Jackman has owned the home since 2008, when he paid $US21m for it.</p> <p>The interesting home was designed by renowned architect Richard Meier, who has made his name with a series of projects including the Getty Centre in Los Angeles. Meier designed the building and also personally designed Jackman’s apartment.</p> <p>“He had done the interior of the apartment for the previous owner,” Deborah Grubman, who shares the listing with fellow Corcoran brokers David Adler and Paul Albano said. .</p> <p>Through its wall-to-wall windows, the apartment looks down upon the Hudson River and out onto the New York skyline.</p> <p>The unit spans the building’s 8th, 9th, and 10th floors. On the 8th, there’s an enormous recreation room and four bedrooms, all with ensuite baths, as well as a guest bedroom with a half bath.</p> <p>On the 9th, there’s the double-height great room, as well as a home office with a gas fireplace, the kitchen and a dining area.</p> <p>The 10th floor is dedicated to the primary bedroom and its spa-like bath, dressing rooms and a sauna, as well as an exercise area. Every floor has a terrace and they are all connected by a spiral staircase.</p> <p>New York City has enjoyed a post-Covid real estate revival, with Jackman’s pad joining a number of top-end listings that have hit the market this year.</p> <p><em>Image: Real Estate</em></p>

Real Estate

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"Bigger boobs and bad dreams": Steve Price's take on vaccine side-effects

<p>Carrie Bickmore has revealed she noticed a subtle change to her breasts after having the Pfizer vaccine.<br /><br /><em>The Project</em> co-host admitted to her fellow panelists Waleed Aly, Peter Hellier and Steve Price on Monday night’s program that she couldn’t help but notice the “lump” on her chest..</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CPzOiPhn7n9/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="13"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CPzOiPhn7n9/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A post shared by Carrie Bickmore (@bickmorecarrie)</a></p> </div> </blockquote> <p>Reports have revealed a number of women have noticed their boobs had increased in size after receiving the jab.<br /><br />The Australian Department of Health has stated that inflamed lymph nodes are a less common side effect, but like many other women, Bickmore couldn’t help but notice the small bump on her chest.<br /><br />“This is exactly what happened, and I will admit I clicked on the clickbait today because mine didn’t go up a size, but I was thinking when I was in the shower, after I got my Pfizer, I noticed a lump, and I thought, ‘that’s weird, I will keep an eye on that’,” Bickmore said.<br /><br />“I texted a girlfriend who had the jab around the same time as me the next day and asked how she was feeling.<br /><br />“She said, ‘Fine, but my lymph nodes are up under my arms’, and I was like, ‘of course, that’s what it is!’”<br /><br />Price complained his side effects weren’t quite as interesting.<br /><br />“You get bigger boobs and I get bad dreams from the second jab of AstraZeneca,” Price told Bickmore.<br /><br />“That was the side effect I had.”<br /><br />The side effect which has been labelled the “Pfizer boob job”, is temporary according to experts.</p>

Caring

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Why Queen Mother left a much bigger inheritance for Harry

<p><span>Princess Diana split her fortune right down the middle when it came to her two sons, Harry and William – however the Queen Mother thought very differently.</span><br /><br /><span>Then the royal passed away five years after the late Di, Prince Harry inherited a substantially larger amount of his great grandmother’s £14 million ($25 million) fortune than his older brother Prince William.</span><br /><br /><span>Considering Prince William is second in line to the throne, Queen Elizabeth’s mother wanted to protect her younger grandson, and guarantee him financial stability in the future.</span><br /><br /><span>When Prince Charles becomes King, Prince William will inherit his role as the Prince of Wales meaning he will take over the Duchy of Cornwall and all the private estates that come along with it.</span><br /><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7840530/queen-mother-2.jpg" alt="" data-udi="umb://media/043a1a952ad64d95b349ee2f0caab7d6" /><br /><span>Prince Harry, however, will get nothing, as the second son.</span><br /><br /><span>It’s unknown how much exactly Harry inherited but a 2002 report by the BBC claimed that the “bulk” of her £14 million estate went to the Duke of Sussex “since William will benefit financially by becoming king.”</span><br /><br /><span>The Queen Mother effectively gave Harry financial compensation to make up for the line of succession.</span><br /><br /><span>When the Queen Mother died in 2002, she left her estate (which typically refers to the contents of her homes) to her daughter.</span></p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7840529/queen-mother-3.jpg" alt="" data-udi="umb://media/bdfd76be82004526a9792240297a2911" /><br /><br /><span>She was an avid art connoisseur as well, and the majority of her vast collection of Monet paintings were donated to the Royal Collection and were put on display at Buckingham Palace.</span></p> <p><em>Images: Getty</em></p>

Family & Pets

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“We’re going to make her 100 times bigger than Kim Kardashian”

<p>An endorsement company used by Kim Kardashian has claimed it is now working with Prince Harry and Duchess Meghan’s “inner circle” to turn them into a “multibillion-dollar brand”.</p> <p>Buckingham Palace said in a statement to The Sun that it was “categorically untrue” that the firm had been hired.</p> <p>However,<span> </span>Fame by Sheeraz<span> </span>has kept its original post up, with company owner Sheeraz Hasan claiming in interviews that he is working directly with the Duchess of Sussex’s “inner circle”.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/B7_3Rg6nUhi/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="margin: 8px 0 0 0; padding: 0 4px;"><a style="color: #000; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none; word-wrap: break-word;" rel="noopener" href="https://www.instagram.com/p/B7_3Rg6nUhi/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">Sheeraz, Inc is now taking appearance and endorsement requests for Prince Harry and Meghan Markle @sussexroyal Sheeraz, Inc clients from Middle East, India, US and Asia can send us official offers and we will take them directly to their representatives. #sheeraz #sheerazinc #sheerazhasan #fame #famebysheeraz @famebysheeraz</a></p> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;">A post shared by <a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px;" rel="noopener" href="https://www.instagram.com/sheeraz/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank"> Fame By Sheeraz 📸</a> (@sheeraz) on Jan 31, 2020 at 12:43pm PST</p> </div> </blockquote> <p>“Always remember Meghan was an actress in Hollywood before she was a princess,” he said in a statement via Twitter.</p> <p>Hasan told Virgin Radio Dubai that he was in the process of fielding offers of up to $US3.5 million ($A5.23 million) to the Sussexes’ team, which he insisted was “ready to play games”.</p> <p>He also said that Duchess Meghan was planning to spend the northern summer in Los Angeles.</p> <p>“We’re going to make her 100 times bigger than Kim Kardashian – and we’re the ones that made Kim,” bragged Hasan. He also claims Jennifer Lopez and Paris Hilton as clients.</p> <p>“I’m telling you — they’re going to become a multibillion-dollar brand. Watch,” he explained to the <em>Kris Fade Show</em> in an interview he posted to Instagram.</p> <div> <div class="reply-list-component"> <div class="reply-component"> <div class="reply-body-component"> <div class="reply_body body linkify"> <div class="reply-body-wrapper"> <div class="reply-body-inner"> <div class="body_text "></div> <div class="body_assets"></div> </div> </div> </div> </div> </div> </div> </div> <div> <div class="new-reply-component"></div> </div>

News

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Australia's drought relief package misses the bigger point

<p>There are two basic components to the Morrison government’s latest A$1 billion package response to the drought affecting large parts eastern Australia. One part involves extra subsidies to farmers and farm-related business. The other involves measures to create or upgrade infrastructure in rural areas.</p> <p>Unfortunately, most funds will be misdirected and the response is unlikely to secure the long-term prosperity of regional and rural communities. This is a quick fix to a political problem, appealing to an important constituency. But it misses the point, again, about the emerging economics of drought.</p> <p><strong>Hitting the political target</strong></p> <p>The bulk of the A$1 billion package is allocated to a loan fund. The terms of the ten-year loans are more generous than what has been offered in the past. They are now interest-free for two years, with no requirement to start paying back the principal till the sixth year.</p> <p>Farmers will be able to borrow up to A$2 million. In addition, loans of up to A$500,000 will also be available to small businesses in drought-affected towns.</p> <p>Because recipients are not having to pay the full cost, these loans are in practice a form of subsidy.</p> <p>Subsidies are used by government to make more people undertake an activity than would otherwise be the case. In this case the government is offering a subsidy to keep farmers and small businesses owners doing what they’ve been doing, even though from an economic point of view this might not be very wise at all.</p> <p>The question that should be asked is: “do we want more or fewer people to be involved in a farming activity that is vulnerable to drought?”</p> <p>Most farming in Australia is completely reliant on rainfed crops and pastures. Rainfall is already highly variable. All the indicators from climate science is that rain will be even more unreliable in the future.</p> <p>In addition, the agricultural industries currently drought affected are not just at the whims of rainfall. These industries are constantly changing and being affected by new technologies and market forces.</p> <p>For most agricultural produce the key market force is price. Sure, some farms and farmers can carve out niche markets, but most farm businesses depend on producing at lowest cost. Increasingly, the farms that survive in a highly competitive global environment do this by exploiting economies of scale. Big farms are thus more profitable than small ones in the good times (such as when it rains); and during the tough times (such as during drought) they have more resources and deeper reserves to ride it out.</p> <p>Ultimately, this means successful farms are continually getting bigger and small farmers are getting squeezed out.</p> <p>The data also support the view that the farmers who survive and are simultaneously exposed to drought <a href="https://onlinelibrary.wiley.com/doi/10.1111/1467-8489.12195">ultimately become even more profitable</a>, because of what they learnt about managing in a difficult environment.</p> <p>This is not to argue drought is a good thing for any farm, but it does raise a serious question about any government policy that effectively encourages more people to keep doing something when global and technological forces would point to it being unsustainable.</p> <p><strong>So what’s the point?</strong></p> <p>The second component of the Morrison government’s relief response involves directing about A$500 million from existing regional infrastructure funds into building roads and other things into affected communities.</p> <p>While many will welcome this on top of the the extension of loans to small business in country towns, the policy detracts from the serious questions that confront rural and regional communities.</p> <p>The economics of agriculture has flow-on effects to towns, but it would be wrong to think all are impacted in the same way.</p> <p>As a general rule, when farmers sell up, they tend to leave from the small communities first. The upshot is that small communities get smaller, older and poorer as those least mobile are left behind. These people also generally require more, not less, public support. Mid-size communities tend to level out, while continuing to age. Large regional centres tend to grow and prosper.</p> <p>The point is that each community requires different things from government. Genuine public goods like roads, health services and education are desperately needed and undersupplied in many cases. Providing cash to a few select businesses and grading a gravel road in this situation belies the complexity of the long-term challenges and fails to address serious issues.</p> <p>An elderly retiree in a rural town might well ask why their local road or bridge is only upgraded during a drought. Surely, government should focus on providing legitimate public goods for the long term, regardless of the weather.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/126583/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: http://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/lin-crase-9904">Lin Crase</a>, Professor of Economics and Head of School, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a></em></p> <p><em>This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australias-drought-relief-package-hits-the-political-spot-but-misses-the-bigger-point-126583">original article</a>.</em></p>

Money & Banking

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Australia's residential aged care facilities are getting bigger and less home-like

<p>Most older people <a href="http://www.who.int/mental_health/publications/dementia_report_2012/en/">want to stay at home</a> as long as they can. When this is no longer possible, they move into residential aged care facilities, which become their home. But Australia’s care facilities for the aged are growing in size and becoming less home-like.</p> <p>In 2010–11, 54 per cent of residential aged care facilities in major Australian cities had <a href="https://www.aihw.gov.au/reports/aged-care/residential-aged-care-in-australia-2010-11/contents/table-of-contents">more than 60 places</a>, and the <a href="https://www.pc.gov.au/inquiries/completed/aged-care/report/aged-care-overview-booklet.pdf">size of the average facility</a> is growing.</p> <p>Today, more than 200,000 Australians live or stay in residential aged care on any given day. There are <a href="https://www.gen-agedcaredata.gov.au/Topics/Services-and-places-in-aged-care">around 2,672 such facilities</a> in Australia. This equates to an average of around 75 beds per facility.</p> <p>Large institutions for people with disability and mental illness, as well as orphaned children, were once commonplace. But now – influenced by the 1960s <a href="https://psychcentral.com/encyclopedia/deinstitutionalization/">deinstitutionalisation</a> movement – these have been closed down and replaced with smaller community-based services. In the case of aged care, Australia has gone the opposite way.</p> <p><strong>Why is smaller better?</strong></p> <p>Evidence shows that aged care residents have better well-being when given opportunities for self-determination and independence. Internationally, there has been a <a href="https://www.sciencedirect.com/science/article/pii/S1525861016300482">move towards</a> smaller living units where the design encourages this. These facilities feel <a href="https://www.ncbi.nlm.nih.gov/pubmed/26743545">more like a home</a> than a hospital.</p> <p>The <a href="http://apps.who.int/iris/bitstream/handle/10665/186463/9789240694811_eng.pdf;jsessionid=731A680E51575BBDBEC07AFC9C449F23?sequence=1">World Health Organisation</a> has indicated that such models of care, where residents are also involved in running the facility, have advantages for older people, families, volunteers and care workers, and improve the quality of care.</p> <p>In the US, the <a href="https://www.thegreenhouseproject.org/resources/research">Green House Project</a> has built more than 185 homes with around 10-12 residents in each. Studies show Green House residents’ enhanced quality of life doesn’t compromise <a href="https://www.ncbi.nlm.nih.gov/pubmed/26743545">clinical care</a> or <a href="https://www.ncbi.nlm.nih.gov/pubmed/21158746">running costs</a>.</p> <p>Around 50 per cent of residents living in <a href="https://www.gen-agedcaredata.gov.au/Resources/Factsheets-and-infographics/Care-needs-factsheet.pdf?ext=">aged care facilities</a> have dementia. And <a href="http://journals.sagepub.com/doi/abs/10.1177/1471301214532460">research has shown</a> that a higher quality of life for those with dementia is associated with buildings that help them engage with a variety of activities both inside and outside, are familiar, provide a variety of private and community spaces and the amenities and opportunities to take part in domestic activities.</p> <p>In June 2018, an <a href="https://theconversation.com/caring-for-elderly-australians-in-a-home-like-setting-can-reduce-hospital-visits-97451">Australian study</a> found residents with dementia in aged-care facilities that provided a home-like model of care had far better quality of life and fewer hospitalisations than those in more standard facilities. The home-like facilities had up to 15 residents.</p> <p>The study also found the cost of caring for older people in the smaller facilities was no higher, and in some cases lower, than in institutionalised facilities.</p> <p>There are some moves in Australia towards smaller aged care services. For example, aged care provider <a href="https://www.wintringham.org.au/">Wintringham</a> has developed services with smaller facilities for older people who are homeless. Wintringham received the <a href="https://www.wintringham.org.au/built_environment.html">Building and Social Housing Foundation World Habitat Award 1997</a> for Wintringham Port Melbourne Hostel. Its innovative design actively worked against the institutional model.</p> <p><strong>Bigger and less home-like</strong></p> <p>Historically, nursing homes in Australia were small facilities, with <a href="https://www.anu.edu.au/fellows/jbraithwaite/_documents/Articles/The%20Nursing%20Home%20Industry.pdf">around 30 beds</a> each, often run as family businesses or provided by not-for-profit organisations. Between <a href="https://www.parliament.nsw.gov.au/lcdocs/other/9768/Aged%20care%20industry%20facts.pdf">2002 and 2013</a> the proportion of facilities with more than 60 beds doubled to 48.6 per cent. <a href="http://www.stewartbrown.com.au/images/documents/StewartBrown---ACFPS-Residential-Care-Report-March-2017.pdf">Financial viability</a> rather than quality of care drove the increase in size.</p> <p>Today, around 45 per cent of <a href="https://gen-agedcaredata.gov.au/Resources/Access-data/2018/September/Aged-care-data-snapshot%E2%80%942018">facilities are operated</a> by the private for-profit sector, 40% by religious and charitable organisations, 13 per cent by community-based organisations, 3 per cent by state and territory governments, and less than 1 per cent by local governments.</p> <p>In 2016, the <a href="https://gen-agedcaredata.gov.au/Resources/Access-data/2018/September/Aged-care-data-snapshot%E2%80%942018">Australian Institute of Health and Welfare</a> (AIHW) reported that residential care services run by government organisations were more likely to be in small facilities. One-fifth (22 per cent) of <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/2017-Factsheets/Services-and-Places-Factsheet-2016%E2%80%9317_2.pdf">places in these facilities</a> are in services with 20 or fewer places. Almost half (49 per cent) of privately-run residential places are found in services with more than 100 places.</p> <p>All of this means that more older Australians are living out their last days in an institutional environment.</p> <p>Once larger facilities become the norm, it will be difficult to undo. Capital infrastructure is built to have an <a href="https://agedcare.health.gov.au/sites/g/files/net1426/f/documents/09_2016/2016_report_on_the_funding_and_financing_of_the_aged_care_industry_2.pdf">average 40-year life</a>, which will lock in the institutional model of aged care.</p> <p>The built environment matters. The royal commission provides an opportunity to fundamentally critique the institutional model.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/103521/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: http://theconversation.com/republishing-guidelines --></p> <p><em>Written by <span>Ralph Hampson, Senior Lecturer, Health and Ageing, University of Melbourne</span>. Republished with permission of </em><a rel="noopener" href="https://theconversation.com/australias-residential-aged-care-facilities-are-getting-bigger-and-less-home-like-103521" target="_blank"><em>The Conversation</em></a><em>. </em></p>

Retirement Income

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Kmart insider reveals best-selling item set to come back bigger and better

<p>When it comes to a good Kmart purchase, the $29 Pie Maker has proven to be one of the best investments you can make to feed hungry tummies.</p> <p>However, one mum has revealed the department store has big plans in store for all those who are a fan of the nifty kitchen appliance.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7823424/cup.jpg" alt="" data-udi="umb://media/64214765bb1a4e48ada625da60a8b5ca" /></p> <p><em>$29 Kmart Pie Maker</em></p> <p>In the past, the invention has shown it is nothing short of spectacular – being able to make tasty savoury foods like bacon cups and eggs, to mouth-watering sweets like Nutella pies and cupcakes.</p> <p>On Friday, one member in the <em><a rel="noopener" href="https://www.facebook.com/groups/1736740153030725/?tn-str=%2AF" target="_blank">Kmart Pie Maker Recipes, Tips and ideas Australia</a> </em>Facebook group revealed the retail giant is bringing out a new version of the device – one that will have everyone in the family satisfied.</p> <p>“Kmart has advised me via email that their family size pie maker (the large family pie with just 1 large hole) for $29 is due in stores this September,” the mother said.</p> <p><img style="width: 432px; height: 243px;" src="https://oversixtydev.blob.core.windows.net/media/7827856/kmart-pie-maker.jpg" alt="" data-udi="umb://media/8041cd46385a481b905f698e60342809" /></p> <p><em>New Kmart Pie Maker set to be available in stores September 2019.</em></p> <p>The announcement caused a stir online with one member adding the retail giant should be prepared for the onslaught of “crazy pie people” set to buy the bigger version of their favourite appliance once it is released.</p> <p>“I’m so ready!!!” another person added.</p> <p>“Giant custard tart come at me …” one member joked.</p> <p>The post attracted almost 900 likes and over 220 comments of excited Kmart shoppers.</p> <p>The pie maker has become a staple in Australian households and gained such a massive following, a Kmart Pie Maker Facebook group attracted over 137,000 followers in the last 13 months.</p> <p>ALDI recently came out with their own family size pie maker for the price of $34.99, but if the Kmart rumours are true, its version will be $6 cheaper.</p>

Money & Banking

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“It’s much bigger than just Michael Jackson”: Why you need to watch Oprah’s After Neverland special

<p>Oprah has publicly acknowledged <em>Leaving Neverland</em> director Dan Reed for his efforts in raising awareness of a topic that she tried to illuminate for 25 years on <em>The Oprah Winfrey Show</em>, in the hopes to get the public to understand the complicated subject.</p> <p>The TV special, <em>After Neverland</em> acts as a companion to Reed’s body of work, with Winfrey saying that a child sexual abuse reckoning must “transcend Michael Jackson”.</p> <p>Winfrey, who is a victim of child assault herself, says the term “abuse” is misleading when discussing the experiences she and other children have faced.</p> <p>Here are a few things to know:</p> <ul> <li>During Jackson’s adult life, he kept a number of young boys around him, none of who he was related to. These children were regularly photographed accompanying him throughout the '80s and '90s and would stay with him at his Neverland home.</li> <li>So far, five boys – Jordan Chandler and Jason Francia in 1993, Gavin Arvizo in 2003 and Wade Robson and James Safechuck in 2013 – have placed allegations against the musician for sexually abusing them. The first case was resolved out of court, the second Jackson was acquitted for. The latest accusations come after Jackson’s death, with Robson and Safechuck providing harrowing details of the crime in Reed’s four-hour documentary <em>Leaving Neverland</em>.</li> </ul> <p>Despite having five people accusing Jackson of the same crime, his loyal fan base refuse to accept that their pop idol could have committed such a monstrous act – passion that wasn’t shown to other men in similar situations such as Harvey Weinstein, Kevin Spacey and R. Kelly, all three who have been accused during the #MeToo era. The King of Pop’s fans almost consider him as a Christ-like figure, meaning if they choose to accept the allegations, they must come to terms with their hero having an extremely dark side. One thing is for certain, many of these people will never come close to watching <em>Leaving Neverland</em>, which highlights Robson and Safechuck’s trauma as children in immense detail.</p> <p>But if you’re someone who has already seen it, and want further information on the incident, then Winfrey’s one-hour special <em>After Neverland</em> should be next on your list of things to watch. The 65-year-old sits down with Robson, Safechuck and Reed, with a studio audience consisting of over 100 sexual abuse survivors and their supporters. The talk show legend makes a clear statement from the very beginning on where she stands: She believes both of them. But despite the ongoing support, Winfrey makes sure to ask the tough questions that everyone is thinking, s<span>uch as their true motivations, the reason they chose to tell their story now and whether their parents are to blame for allowing the abuse to happen.</span></p> <p>Winfrey, who has experienced sexual assault as a child herself, has dedicated a large part of her career to spreading awareness on the misunderstood topic.</p> <p>“Here’s the reason why I’m here,” Winfrey says on the segment.</p> <p>“In 25 years of <em>The Oprah Show</em>, I taped 217 episodes on sexual abuse. I tried and tried to get the message across to people that sexual abuse was not just the abuse, it was sexual seduction.”</p> <p>She then praised Reed for being “able to illustrate in these four hours what I tried to explain in 217”.</p> <p>And Reed deserves the accolades, as <em>Leaving Neverland</em> highlights the manipulative behaviour predators use to groom children, to the point that their innocent subjects don’t realise they are being abused until years later.</p> <p>The documentary goes into detail about how Jackson garnered the trust of Robson and Safechuck’s families, shedding light on the exact tactics used by paedophiles.</p> <p>“Child sexual abuse; even the word ‘abuse’ lacks accuracy. I’ve been saying this for years,” says Winfrey.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/Bu8sG11nGCq/?utm_source=ig_embed&amp;utm_medium=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/Bu8sG11nGCq/?utm_source=ig_embed&amp;utm_medium=loading" target="_blank">A post shared by Amanda Lenox (@amandalenoxlmhc)</a> on Mar 13, 2019 at 5:20am PDT</p> </div> </blockquote> <p>“As young boys, these two men did not feel it was abuse until much later. When you’re a child – this is the message I want every parent to hear – you don’t have the language to explain what is happening to you, because you’ve been seduced and entrapped.”</p> <p>Robson then went on to explain why it took him this long to reveal what had happened to him.</p> <p>“I had no understanding that what Michael did to me was abuse. From night one of the sexual stuff that Michael did to me, he told me it was love, and that God brought us together. I was this little boy from the other side of the world, and Michael was God to me. Now, he was telling me, ‘I love you. God brought us together.’ This, this sexual stuff, this is how we show our love.”</p> <p>While the victim’s stories are unique in their own right, the abuse they suffered was not, with one in five girls and one in 20 boys being a victim of child sexual abuse.</p> <p>“For me, this moment transcends Michael Jackson. It’s much bigger than any one person. It’s a moment in time that allows us to see this societal corruption, this scourge on humanity. It’s happening right now in families, in churches, in schools and in sports teams everywhere,” says Winfrey.</p> <p>“If it gets you to see how it happens, then some good will have come of it.”</p> <p>Oprah’s full <em>After Neverland</em> special is up on YouTube and her website for Australians to watch.</p> <p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/JIiq4Jnmam8" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe></p> <p>Have you watched <em>Leaving Neverland</em>? What did you think of it? Let us know in the comments below.</p>

Music

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The bizarre way to make a cruise ship bigger

<p>In a world first for a luxury cruise ship, Silversea's Silver Spirit has been sliced in half during an ambitious lengthening project.</p> <p>A prebuilt 15-metre segment will be inserted inside in order to create more space on board the ship for public areas.</p> <p style="text-align: center;"><img width="497" height="280" src="https://oversixtydev.blob.core.windows.net/media/7818109/in-text_497x280.jpg" alt="In Text (3)"/></p> <p>The dissection of the 32,600 tonne ship occurred in front of an audience of international press and VIP guests, who were able to watch the manoeuvring of the vast new midsection into place.</p> <p>The operation will not be completed until May 5 and is expected to take 450,000 hours to complete with more than 500 skilled workers.</p> <p>The Silver Spirit's new length of 210.7 metres is expected to increase the capacity of the ship by around 12 per cent.</p> <p>Four new restaurants will be found on board the ship's new midsection, bringing the total number of dining rooms to eight, capable of seating 15 per cent more diners.</p> <p>On top of the extension is an additional 15 metres of sky deck alongside the pool area, with 20 per cent more outdoor seating and a new aerobics area.</p> <p>Inside, there will be a new spa, expanded gym and two cafes.</p> <p>All suites will also undergo a refurbishment before the ship sets sail again on May 6.</p> <p>Silversea donated all the ships' old furniture to charity, filling 11 containers with 4652 items of furniture, computers and other articles, to be used for social welfare purposes in institutions across the island of Chania, Crete, identified as an island in need.</p> <p>The ship's first service will be a seven-day cruise between Rome and Barcelona.</p> <p><em>Written by Kylie Mclaughlin. Republished with permission of <a href="http://www.stuff.co.nz/" target="_blank"><strong><span style="text-decoration: underline;">Stuff.co.nz.</span></strong></a></em></p>

Cruising

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Taking selfies makes your nose look bigger than it is

<p>It is the inescapable 21st-century vexation of the vain. Smartphones allow a person to take selfies as fast as the index finger can click, yet from a dismayingly close distance that may leave the subject dissatisfied.</p> <p>Don't fret, a team of researchers from Rutgers and Stanford says in a new analysis published recently. The culprit is distortion.</p> <p>Using a mathematical model, the group found that in a selfie taken from 30cm away, the nose appears 30 per cent wider than in a photo taken from 150cm.</p> <p>The researchers undertook the analysis because plastic-surgery patients - who spent more than US$16 billion on cosmetic procedures in 2016, according to the American Society of Plastic Surgeons - often cited their appearance in selfies as justification for getting a nose job.</p> <p>Boris Paskhover, an assistant professor at Rutgers New Jersey Medical School's department of otolaryngology, wanted to set the record straight.</p> <p>"Young adults are constantly taking selfies to post to social media and think those images are representative of how they really look, which can have an impact on their emotional state," Paskhover said in a Rutgers news release.</p> <p>"I want them to realise that when they take a selfie, they are in essence looking into a portable funhouse mirror."</p> <p>To calculate the degree of nasal distortion in up-close photos, Paskhover worked with Ohad Fried, a research fellow in Stanford's computer science department.</p> <p>In addition to the 30 percent increase in the apparent width of the nose in selfies, the team also found that the close vantage point made the tip of the nose appear 7 per cent wider.</p> <p>Their findings were published in JAMA Facial Plastic Surgery.</p> <p>In this social-media-obsessed world, Paskhover, who specialises in facial plastic and reconstructive surgery, is not alone in seeing patients who are unhappy with their selfies.</p> <p>In a 2017 poll, 55 per cent of surgeons reported they had seen patients who sought plastic surgery in order to look better in selfies, the American Academy of Facial Plastic and Reconstructive Surgeons said.</p> <p>Yet nose jobs, formally called rhinoplasty, appear to be on the wane, according to the American Society of Plastic Surgeons. Surgeons performed 218,924 of the procedures in 2017, down 2 per cent from the year before, and down a whopping 44 per cent since 2000.</p> <p>Maybe selfie-snappers are coming to grips with reality.</p> <p>Do you agree with this work?</p> <p><em>Written by Tom Avril. Republished with permission by <a href="http://www.stuff.co.nz/" target="_blank"><strong><span style="text-decoration: underline;">Stuff.co.nz</span></strong></a>.</em></p>

Technology

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Meet the lookalike Aussie who is set to play Arnold Schwarzenegger

<p>Calum von Moger has landed the role of Arnold Schwarzenegger in <em>Bigger</em>, a movie about bodybuilding, according to reports.</p> <p>The Australian bodybuilder is a previous Mr Universe winner and has been nicknamed “Schwarzenegger 2.0” due to his striking resemblance to the iconic star.</p> <p style="text-align: center;"><img width="499" height="245" src="https://oversixtydev.blob.core.windows.net/media/44437/2_499x245.jpg" alt="2 (28)"/></p> <p>While Calum certainly looks similar to a young Arnold, he will have to prove if he can also carve a career in Hollywood through his acting performance.</p> <p><em>Bigger</em> follows the story of bodybuilding pioneers Joe and Ben Weider. The brothers created the Mr Olympia contest and were the ones who discovered Schwarzenegger and encouraged him to move to the United States from Austria.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 658px; padding: 0; width: calc(100% - 2px);" class="instagram-media"> <div style="padding: 8px;"> <div style="background: #F8F8F8; line-height: 0; margin-top: 40px; padding: 50.0% 0; text-align: center; width: 100%;"> <div style="background: url(data:image/png; base64,ivborw0kggoaaaansuheugaaacwaaaascamaaaapwqozaaaabgdbtueaalgpc/xhbqaaaafzukdcak7ohokaaaamuexurczmzpf399fx1+bm5mzy9amaaadisurbvdjlvzxbesmgces5/p8/t9furvcrmu73jwlzosgsiizurcjo/ad+eqjjb4hv8bft+idpqocx1wjosbfhh2xssxeiyn3uli/6mnree07uiwjev8ueowds88ly97kqytlijkktuybbruayvh5wohixmpi5we58ek028czwyuqdlkpg1bkb4nnm+veanfhqn1k4+gpt6ugqcvu2h2ovuif/gwufyy8owepdyzsa3avcqpvovvzzz2vtnn2wu8qzvjddeto90gsy9mvlqtgysy231mxry6i2ggqjrty0l8fxcxfcbbhwrsyyaaaaaelftksuqmcc); display: block; height: 44px; margin: 0 auto -44px; position: relative; top: -22px; width: 44px;"></div> </div> <p style="margin: 8px 0 0 0; padding: 0 4px;"><a style="color: #000; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none; word-wrap: break-word;" href="https://www.instagram.com/p/BaDnuK6gy_d/" target="_blank">Training for something different. Who can guess what? Tank top: @teamvonmoger</a></p> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;">A post shared by CALUM VON MOGER 🇦🇺 (@calumvonmoger) on Oct 9, 2017 at 10:57pm PDT</p> </div> </blockquote> <p>The film is currently shooting in Alabama and is directed by George Gallo.</p> <p>Actors Tyler Hoechlin and Colton Haynes, former <em>Teen Wolf</em> stars, will also appear in the film.</p> <p>Do you think Aussie Calum von Moger resembles Arnold Schwarzenegger? Let us know in the comments below. </p>

Movies

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The world’s biggest plane could get even bigger

<p>Airbus's A380 superjumbo may sprout extended wings as the European manufacturer intensifies studies into the addition of curved extensions aimed at reducing drag and boosting efficiency.</p> <p>The so-called winglets, which on the A380 would each measure as much as five metres, could reduce fuel burn by up to 4 per cent by dissipating the vortexes of rapidly spinning air created by the plane's wings.</p> <p>Airbus's commercial aircraft chief Fabrice Bregier said on Friday there's a good chance that the company will opt to upgrade the smaller wingtip fences currently fitted on the A380. The switch, together with improved engine efficiencies, could help win orders while avoiding the greater expense of a Neo upgrade featuring new turbines and changes to the double-decker's airframe.</p> <p>"We will not launch an A380neo, there's no business case now to do that, this is absolutely clear," Bregier said. "But it doesn't prevent us from looking at what could be done to improve the performance of the aircraft. So having a little bit more efficiency from the engines is clearly an option, and looking at whether we could bring new winglets is also probably a good possibility."</p> <p>Adding the extensions would require only minor modifications to the A380's wings, with no need to strengthen the centre box where they join to the plane's fuselage, Bregier said in an interview at Airbus's headquarters in Toulouse, France. That was a cost the company sustained when adding winglets to its A320-series single-aisle planes.</p> <p>Enhancements to the A380 could help lure buyers after the world's biggest passenger plane drew an order blank last year, and Airbus will only go ahead with the winglets upgrade if there is commercial interest, Bregier said.</p> <p>Emirates, the biggest superjumbo customer, is in early talks over a deal for 20 more A380s, people familiar with the discussions said this week. The Dubai carrier told Bloomberg that while it has no plans for a purchase right now, it regularly engages with manufacturers on "product updates and enhancement."</p> <p>Didier Evrard, Airbus's commercial programs chief, said studies into the winglets are progressing and stem from technological advancements as well as the need to make the A380 more efficient. "Ten or 15 years ago we were not able to design winglets with the right balance or drag," he said, adding that the existing wingtips "are not the most optimal part of the A380."</p> <p>The model was formally launched in December 2000, had its first flight in 2005, and entered commercial service with Singapore Airlines Ltd. in 2007.</p> <p>Even a 1 per cent fuel saving would be significant for the superjumbo, which carries 200 metric tons of kerosene for a typical long-haul flight, according to Evrard, who on Monday said Airbus would need to consider slowing the A380 build rate to less than one jet a month without new contracts this year.</p> <p>Rolls-Royce Holdings, which is supplying engines for the outstanding A380s from existing Emirates orders, could provide range and fuel-burn improvements for the Trent 900 turbine that it makes for the model. It referred questions about potential upgrades to Airbus.</p> <p>As part of its push to make the superjumbo more attractive to airlines Airbus has also devised half a dozen cabin modifications in order to accommodate more than 80 additional seats. The changes include removing an upper-deck stowage area, re-positioning the main staircase and moving to an 11-abreast layout on the main deck.</p> <p>Have you ever flown on a superjumbo?</p> <p><em>Written by Christopher Jasper. First appeared on <a href="http://www.stuff.co.nz/" target="_blank"><strong><span style="text-decoration: underline;">Stuff.co.nz</span></strong></a>. </em></p>

Travel Tips

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Why cruise ships are just getting bigger and bigger

<p>Royal Caribbean Symphony of the Seas, which will inherit the title of world's largest cruise ship when it debuts in early 2018, has been floated out at the shipyard for its first taste of water.</p> <p>The 230,000-ton, 362-metre ship is under construction at STX France in St. Nazaire, France. It is the fourth Oasis-class vessel, and Symphony of the Seas will sail the Mediterranean in the summer 2018 and then make its way to the US, bound to sail out of Royal Caribbean's new terminal at PortMiami.</p> <p>With the exterior now done, interior work will continue until its April 2018 handover.</p> <p>Symphony of the Seas's gross registered tons will be more than Harmony of the Seas, which comes in at 226,963 tons, but they will be the same length.</p> <p>Meanwhile, MSC Cruises nailed down some details for its new class of cruise ships that will be among the largest in the world. Four planned World Class of cruise ships that will be built at STX France between 2022-2026 will be able to carry 6850 passengers in 2760 cabins.</p> <p>That puts it just larger than the capacity of the current title holder for world's largest cruise ship, Harmony of the Seas, which has a capacity of 6780 passengers. The gross tonnage of the new class of ships, though, will be smaller than Royal's Oasis-class ships.</p> <p>The details were announced at a ceremony at the shipyard in St. Nazaire, France as the cruise line took ownership of its newest vessel, the not-so-small, 152,000-tonne, 4500-passenger MSC Meraviglia, which will make its way to Miami by 2019 after serving Europe for its first two years of service.</p> <p>Harmony of the Seas currently holds the title for world's largest cruise ship, slightly larger than the original ships, 2009's Oasis of the Seas and 2010's Allure of the Seas.</p> <p>Symphony of the Seas' Miami sailings begin with a four-night cruise on November 9, 2018 that makes one stop in Cozumel, Mexico. It will then begin alternating seven-night eastern and western Caribbean cruises.</p> <p>Just like Harmony, the ship will feature the 10-deck Ultimate Abyss dry slide and Perfect Storm water park as well as Royal Caribbean mainstay features like the FlowRider surf simulator and 40-foot rock climbing wall.</p> <p>The website teases one other adventure offering with no details other than "A new scale of daring. Adventure hits a high note with a whole new challenge" with details promised at a later date.</p> <p>Like all Oasis-class ships, it will feature seven distinct neighbourhoods including the Oasis-class' signature Central Park and the Boardwalk. There will be an ice skating rink, the AquaTheater at the aft of the ship,</p> <p>Symphony will feature 28 more staterooms than Harmony of the Seas with a Royal Suite class, neighbourhood balconies overlooking Central Park, virtual balconies on inside staterooms, and the highest number of ocean-view cabins at sea which has 2775 staterooms that can hold 5494 passengers at double capacity, and 6780 at full capacity as well as a 2175-person crew.</p> <p>Restaurants will once again include celebrity chef Jamie Oliver's Italian dining venue as well as the Mexican offering Sabor, Japanese cuisine at Izumi, the Chops Grill steakhouse, Vintages wine bar and Solarium bistro.</p> <p>More than 20 dining options are promised, but details on any new venues have not been released yet.</p> <p>Robots will be back as well with the Bionic Bar. Expect more details to come.</p> <p>The ship's Mediterranean sailings begin with a seven-night voyage from Barcelona on April 21. The ship will sail 7-, 8- and 9-night voyages in the Mediterranean through October before repositioning to Miami on a 12-night transatlantic voyage that departs October 28.</p> <p>Only certain ports are big enough to handle Oasis-class behemoths, which had only Port Everglades to sail from until Port Canaveral's enhancements in the last couple of years.</p> <p>With Harmony's debut in Florida last November, Port Canaveral took on Oasis. When Symphony of the Seas debuts, three Florida ports will now host the behemoths that can hold close to 7000 passengers at full capacity.</p> <p>Harmony of the Seas will stay in Fort Lauderdale or Oasis of the Seas in Port Canaveral.</p> <p><em><em>Written by Richard Tribou. </em>First appeared on <a href="http://www.Stuff.co.nz" target="_blank"><span style="text-decoration: underline;"><strong>Stuff.co.nz</strong></span></a>. </em></p>

Cruising

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How to make a small room feel bigger

<p>Living in a small space shouldn’t stop you from enjoying your living space but it should be seen as a creative design challenge. By combining space saving solutions with your personal style, you will be able to live happily in small quarters. Here are some tips on how to make a room feel bigger.</p> <p><strong>1. Multifunctional pieces</strong></p> <p>In your smallest rooms, it is important to ask yourself if your furniture and décor can serve more than one purpose. By having furniture pieces accommodate to different needs you can save necessary living space. For example, find a wall unit that can also be used as a desk or invest in a pull-out sofa bed if you don’t have space for guests to stay. Storage is also key to add anywhere you can in smaller rooms. Items such as <a href="https://shop.oversixty.com.au/collections/storage/products/linen-house-frida-small-storage-basket?utm_source=Over60&amp;utm_medium=in-article-link-frida-small-storage-basket&amp;utm_campaign=Over60Shop&amp;utm_content=frida-small-storage-basket" target="_blank"><strong><span style="text-decoration: underline;">storage baskets</span></strong></a> can be used to house small items in the bathroom, living, study or kitchen.</p> <p><strong>2. Natural light</strong></p> <p>If you emphasise natural light in a room then a room will feel brighter. A room with natural light feels more open as shadows are eliminated. In the rooms where it is possible, move your most-used pieces of furniture into a position where they can have a view of the outdoors. If natural light is minimal then consider adding extra lighting in your room to brighten it up.</p> <p><strong>3. Breezy fabrics</strong></p> <p>In rooms such as your living room, it is best to avoid heavy materials that will weigh down your room. Lightweight materials will serve the same purpose but will increase the sense of airiness in the room. In your bedroom, decide on a quilt cover that can be the focal point of colour and pattern in your room and then allow everything else to compliment that design. You can transform your room to be <a href="https://shop.oversixty.com.au/collections/bedroom/products/linen-house-amara-cover-set?utm_source=Over60&amp;utm_medium=in-article-link-amara-cover-set&amp;utm_campaign=Over60Shop&amp;utm_content=amara-cover-set" target="_blank"><span style="text-decoration: underline;"><strong>trendy</strong></span></a>, <a href="https://shop.oversixty.com.au/collections/bedroom/products/linen-house-demir-cover-set?utm_source=Over60&amp;utm_medium=in-article-link-demir-cover-set&amp;utm_campaign=Over60Shop&amp;utm_content=demir-cover-set%20%20%20" target="_blank"><span style="text-decoration: underline;"><strong>soft</strong></span></a> or <a href="https://shop.oversixty.com.au/collections/bedroom/products/linen-house-quilt-cover-set-drift?utm_source=Over60&amp;utm_medium=in-article-link-quilt-cover-set-drift&amp;utm_campaign=Over60Shop&amp;utm_content=quilt-cover-set-drift" target="_blank"><strong><span style="text-decoration: underline;">neutral</span></strong></a> by changing your quilt cover.</p> <p><strong>4. Colour code</strong></p> <p>Just because you have a small space it doesn’t mean you must paint your white walls and have neutral colours (even though that helps). Decide on a colour code that you want in your room and be sure to stick to it when you are selecting furniture and décor pieces. In a small room, it is best to represent yourself through accessories such as creatively framed photos and artworks rather than through clutter and knickknacks.</p> <p><strong>5. Mirrors</strong></p> <p>Mirrors are a great addition to a small room as it creates an optical illusion that the space has a greater sense of openness. Mirrors allow light to reflect and trick the eye into perceiving more space. The best place to put a mirror is in a position where it will reflect the light from a window.</p> <p>What are your tips for making a small room feel bigger? Let us know in the comments below.</p> <p><em><strong>To find your winter home essentials, including the bedding mentioned above, <a href="https://shop.oversixty.com.au/?utm_source=over60&amp;utm_campaign=Over60Shop&amp;utm_medium=in-article-link-o60shop&amp;utm_content=over60-shop" target="_blank"><span style="text-decoration: underline;">head to the Over60 Shop</span></a> for high-quality offerings.</strong></em></p> <p><a href="https://shop.oversixty.com.au/collections/living?utm_source=Over60&amp;utm_medium=in-article-banner-living&amp;utm_campaign=Over60Shop&amp;utm_content=over60-shop" target="_blank"><img src="http://media.oversixty.com.au/images/EditorialAddon/201706_Shopnow_EditorialAddon_468x60_Living.jpg" alt="Over60 Shop - Living Range"/></a></p>

Home & Garden

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Motherly love helps children's brains grow bigger

<p>Motherly love can help children's brains grow at twice the rate as neglected youngsters, a study published in the <em>Proceedings of the National Academy of Sciences Early Edition </em>has shown. The research, which followed 127 children from when they were just about to start school, to early adolescence involved scanning the participating children’s brains to measure the growth of the hippocampus which is associated with learning, memories and regulating emotions. It’s a well-known fact that a stable and loving home life improves overall childhood emotional development but this is the first research that proves the impact on child brain size.</p> <p>The researchers examined the nurturing levels of the participating mothers by closely observing and scoring videotaped interactions between mothers and their children. In the scenario, mothers were asked to complete a task while also preventing their child from opening a present which was prominently positioned in the room. This scenario was designed to reflect an everyday situation such as when a child wants attention but a mother is busy. Mothers who were able to maintain their composure and complete assigned tasks while still offering emotional support to their children are rated as more nurturing and supportive.</p> <p>When researchers examined the brain scans of the participating children, they found that children whose mothers were more supportive than average had increases in growth of the hippocampus that were more than two times greater than in those whose mothers were slightly below average on the nurturing scale. They also found that the growth trajectory in the hippocampus was associated with healthier emotional functioning when the children entered their teen years.</p> <p>Head researchers Dr Joan Luby said that the study has visibly shown the relationship between a nurturing parental relationship and the young brain. “Early maternal support affects the child’s brain development,” said Dr Luby. “We also know that providing support to parents can have a positive impact on other behavioural and adaptive outcomes in children. So we have a very logical reason to encourage policies that help parents become more supportive.”</p> <p><strong>Related links:</strong></p> <p><a href="/lifestyle/family-pets/2016/06/photos-show-the-joy-of-adoption-after-foster-care/"><span style="text-decoration: underline;"><em><strong>Photos show the pure joy of adoption after foster care</strong></em></span></a></p> <p><a href="/lifestyle/family-pets/2016/06/having-a-sibling-makes-boys-selfless/"><span style="text-decoration: underline;"><em><strong>Having a sibling makes boys selfless</strong></em></span></a></p> <p><a href="/lifestyle/family-pets/2016/06/babies-know-whether-you-are-naughty-or-nice/"><span style="text-decoration: underline;"><em><strong>Babies know whether you are naughty or nice</strong></em></span></a></p>

Family & Pets

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