Jay D. Roth, national executive director of the Directors Guild of America, will be the recipient of the DGA Presidents Award at the 69th Annual DGA Awards on Saturday, February 4, at the Beverly Hilton in Beverly Hills, Calif. The award, which is given for leadership and extraordinary efforts in enhancing the welfare and image of the Guild and the industry, is bestowed only by a unanimous vote of the sitting and former DGA presidents.
Roth, the DGA’s national executive director for the past 22 years, is only the fourth recipient of the DGA Presidents Award, first given in 1998 to former DGA president George Sidney, and then in 2001 and 2005 to former presidents Robert Wise and Gil Cates.
“The Presidents Award has only been previously given to the most exceptional leaders of the DGA. Sidney, Wise and Cates were remarkable presidents who left a lasting impact on the Guild. And in Jay Roth, we have a kindred spirit whose brilliant mind and incredible accomplishments, including our groundbreaking recent negotiations, have forged a deep footprint–a legacy which has advanced both this Guild and our industry,” said Barclay, current DGA president.
“I’m honored by this recognition from our current and past presidents,” said Roth. “We’ve served alongside one another to carry into the future the vision upon which this Guild was founded: protecting and advancing the creative and economic rights of directors. I’m proud of all we’ve accomplished together.”
Online forum Reddit will join the influential and closely tracked S&P 500 index
Reddit will join the S&P 500 next week, giving the wide-ranging online forum a boost in prestige and investments.
Joining the S&P 500 is considered an achievement for a company because the index is a widely followed measure of the broader U.S. stock market's health. A company is selected for the index based on several criteria that demonstrate stability, including market size and consistent profitability.
Reddit's stock surged nearly 14% around midday Friday.
Aside from status, inclusion means more investments. The index tracks 500 of the biggest U.S. stocks, and trillions of dollars in investments benchmark themselves against it. Those investments include mutual funds and exchange-traded funds. Essentially, those funds will have to buy the stock once it becomes part of the index that the fund is tracking or mimicking.
Investors are depending more than ever on funds that simply mimic indexes such as the S&P 500. It's a lower-cost way to invest, allowing savers to keep more of their investments. Partly because of that, such index funds have usually proven to be better performers than funds that try to pick and choose individual stocks.
Reddit will join the benchmark index as of Tuesday. A stock must trade publicly for at least 12 months to join the S&P 500. The operator of the index, S&P Dow Jones Indices, stuck to that guideline recently when it declined to fast-track SpaceX into the index after the space exploration company's massive initial public offering in June.
Reddit's inclusion comes weeks after it posted strong financial results for the second quarter. That included its highest-ever quarterly revenue. The company has been posting profits almost every quarter since it went public in... Read More