Blog   Tagged ‘artistic’

GDP Goes Hollywood

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Did you know that every five years the statistics that determine the Gross Domestic Product (GDP) are reviewed and modernized as the U.S. economy changes? The GDP is one of the main indicators used to measure the health of our economy, so this review is very important.

Earlier this month, the Bureau of Economic Analysis (BEA) conducted a comprehensive revision of the GDP statistics from 1929 through 2013. This time around, the revisions included changes to intangibles, including books, movies TV shows, music, photographs and even greeting cards. Specifically, “intellectual property products” (an idea for a movie franchise) were moved from expense to investment classifications. This includes research and development; entertainment, literary and artistic originals; and software. They will be considered fixed assets to account for their ongoing contributions, such as royalties authors receive for their book sales.

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Including specific works and ideas from the ever growing “knowledge economy” was done to fill a void because these intellectual property products had not been labeled as an asset until now. Check out this recent New York Times piece, Getting Creative with the GDP, to learn more about these recent additions to the GDP.

These changes are important in making sure the GDP calculation stays relevant and current.  Since the recent revisions created only a minimal statistical change to the GDP, the general consensus to date seems to be that the findings do not change the overall picture.

What it does change is the outlook on creativity and innovation. For example, research and development is often viewed by most companies as an expense and not an asset. It’s difficult to place a continuing value on it because sometimes it’s successful and sometimes it’s not. The goal is not to place a specific number value on each individual intangible. Instead this change in GDP reporting is a paradigm shift in how we view the overall value of imagination and the creative process.


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K.C. Mathews joined UMB in 2002. As executive vice president and chief investment officer, Mr. Mathews is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment, Asset Allocation and Trust Policy Committees. Mr. Mathews has more than 20 years of diverse experience in the investment industry. Prior to joining UMB, he served as vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. Mr. Mathews earned a bachelor’s degree from the University of Minnesota and a master’s degree in business administration from the University of Notre Dame. Mr. Mathews attended the ABA National Trust School at Northwestern University and is a Chartered Financial Analyst and member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.

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UMB CANstruction: A food drive for Harvesters – The Community Food Network

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Pit Crew (front)For the second year in a row, UMB organized a fun, creative food drive for Harvesters – The Community Food Network called UMB CANstruction at our headquarters in downtown Kansas City. This event is quickly becoming an associate favorite around here and I can see why.

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UMB CANstruction has grown to include more than 100 associates making up 10 teams this year. Each team built an artistic structure, using cans, non-perishable foods and occasionally wooden boards to stabilize the designs. The competition was used to raise awareness about hunger in Kansas City.  Our associates showed some amazing creativity this year. Some of the unique structures included:

  • Sprint Center replica
  • Top Gun airplane
  • Etch-a-Sketch to etch out hunger
  • Kansas Speedway
  • Andy Warhol painting replica made of soup cans

All of the food used to make each 8′ x 8′ structure was donated to Harvesters at the end of the campaign. UMB also conducted an online donation drive and provided more than five tons of food for hungry children and families in Kansas City.

We added a little element of competition this year by giving our associates the opportunity to vote online for their favorite structure during the week they were on display. Take a look at the winning designs below.


Best Meal: Etch Out Hunger
Design that would create the tastiest meal based on CANstruction ingredients

Etch Out Hunger

Best Theme: Pit Crew
Best creativity and execution of the theme

Pit Crew (side)

Best Use of Labels: More than a CANstruction
Design that uses can labels most artistically

More than a CANstruction

Harvesters Food Bank Award: Operation: Wingman
Best use of healthy foods and those on Harvesters’ most-needed food list

Operation Wingman (front)

Jurors’ Favorite: UMB Feed KC
Best in show design that wows the judges


Structural Ingenuity: Sprint to End Hunger
Design that is the most technically sound without the use of stabilizers

Sprint to End Hunger

Creative Collaboration: UMB 1st Drive-Thru
Design that demonstrates interdepartmental synergy and partnership

 UMB 1st Drive-Thru

Honorable Mention Visionary Award: More than a CANstruction

More than a CANstruction

Honorable Mention Mission Driven Award: Consumer North Metro

Consumer North Metro

Honorable Mention Most Creative Name: Warhccanart


People’s Choice Best in Show: Operation: Wingman
Award determined by more than 515 online votes

Operation Wingman (side)

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.

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