Author Archives: Envision Magazine

New Dynamic Leaders

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New Dynamic Leaders

Nikon Optical Canada recently announced the following key organization changes with the goal of realizing more responsive, more personable relationships with their customers.

Nicolas Tountas, newly appointed as VP customer services, is a licensed optician whose experience owning a practice will serve as an asset in his commitment to developing a more proactive customer service department.

Angela Marselloshas been promoted to director ofmarketingand communications, leading themarketingteam to develop and execute key programs. With thirteen years of experience inmarketingat Nikon, Angela’s passion for the Nikon brand will be critical in the effective communication of the company premium philosophy.

Lora Discenza, who was appointed asmarketingcommunications manager, is central to effective communications for new product launches, advertising, promotions and othermarketingprojects. Working for Nikon for over eight years, Lora’s experience is essential in the realization of projects.

Julie Legendre has been promoted to quality director in a new department created specifically to continuously improve and sustain the company’s quality policy, while implementing timely processing and resolution of warranty issues. Julie is a licensed optician, with six years of experience successfully managing Nikon Optical Canada customer services.

Pedro Silva, director of the strategicmarketingand sales group, is responsible for analyzing and evaluating the success of Nikon’s initiatives. Drawing on his ten years of experience at the company, his recommendations on product strategy and pricing help Nikon respond to changing market demands therefore sustaining their relevancy in the Canadian optical industry.

Updated ISO Standards Encourage Best Practices in the Optical Industry

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By Evra Taylor

legalangleThe proliferation of eyeglass frames, contact lenses, and ophthalmic equipment and devices comes with the potential hazards of poor workmanship and compromised safety. It is a comfort, therefore, to know that the Standards Council of Canada (SCC) has developed criteria that promote product reliability and best practices in the optical and ophthalmic industries.

The SCC is a member of the International Standards Organization (ISO), an umbrella group made up of more than 160 member countries worldwide. ISO standards encompass everything from agriculture to medical devices and the ISO designation signifies a global consensus on the state of the art in the technology or good practice concerned. To ensure high quality in the eyeglass industry, the ISO has developed a standard outlining fundamental manufacturing requirements.

The standards document known as ISO 12870 applies to eyeglass frames for all prescription lenses and includes such items as protection against low-quality production and hazardous materials. ISO 12870 states: “This International Standard specifies fundamental requirements for unglazed spectacle frames designed for use with all prescription lenses. It is applicable to frames at the point of sale by the manufacturer or supplier to the retailer. This International Standard applies to all spectacle frame types, including rimless mounts, semi-rimless mounts and folding spectacle frames, as well as spectacle frames made from natural organic materials.” The standardization process involves in-depth product testing and evaluation of such elements as construction, clinical evaluation, tolerance on screw threads, mechanical stability and resistance to perspiration.

Dr. Ralph Chou is an optometrist and associate professor at the School of Optometry and Vision Sciences at University of Waterloo and a member of the SCC Mirror Committee for ISO, a group that has active input into the development of these criteria. He explained that the 12870 standard is relatively old and that the recently announced document is a revamping of the guidelines to reflect technology changes. “The standards system helps protect consumers because it provides common specifications that help ensure the quality of imported and exported products,” Dr. Chou said.

He also serves on ISO technical working groups that study the requirements for tints in ophthalmic lenses and the technical requirements for lensometers.

ISO standards updates are not the result of a manufacturing  problem; rather, they are a matter of process. Most standards undergo a technical review every three to 10 years, depending on the industry. With ophthalmic goods and materials, the review interval is roughly five years. Some stipulations are mandatory, others are optional. Certain items,  like quality of construction that prevents rough surfaces or sharp edges that might cause injury, are mandatory. An example of the new provisions is a section pertaining to nickel release in eyeglass frames, which can cause health problems in some individuals. This standard, which is mandatory, stipulates a maximum level of nickel that can be leached out of the frame.

Other standards organizations are at work in the optical sector elsewhere in the world. The CE Mark, abbreviated from Conformité Européenne, or “European Conformity,” indicates that a product conforms to European Union (EU) legal requirements, including safety standards. While not all products are required to bear the CE mark, medical devices, some types of machinery, toys and PCs are subject to CE standardization. Numerous Mutual Recognition of Conformity Assessment Agreements exist between the EU and countries including Canada, the U.S., Japan, Australia, New Zealand and Israel. As a result, the CE mark is now found on many products from these countries.

As an OD who is conversant with standardization in the optical industry, Dr. Chou is not certain that Canadian opticians have a high degree of awareness of ISO standards. “I mention them to optometrists and sometimes discuss them with my students. Like many things, this is an aspect of the industry that is not touched upon much in the education process,” he stated. “In the case of nickel release, for example, dispensers need to be more conversant and aware that the ISO standard exists as a safeguard.”

Dr. Chou views ISO standardization as “relatively effective. The ISO world is eventually going to become the way in which the ophthalmic market will be governed internationally. They have an entire system of standards that deal with eyeglass frames, contact lenses, aberrometers and other items. ISO standards are also becoming extremely important in intraocular lenses and dry eye implants.”

In Dr. Chou’s opinion, raising awareness is paramount. He emphasized that ophthalmic dispensers should ask sales representatives if their products conform to ISO standards as a way of ensuring product durability and safety for the end user. “Regardless of the price point, the product needs to perform to expectations. It’s important that Canadian professionals support the development of ISO standards and keep up to date with changes over time,” he noted.

Bruno Palmegiani: Aspiring to More

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By JoAnne Sommers

DesignerPalmegianiEven as a teenager, Bruno Palmegiani sensed what a pair of glasses could do for a person’s image. As an aspiring rock musician, he always wore sunglasses while playing the guitar to help project the persona of a cool, hip rock star. Today, as the designer behind the Ermenegildo Zegna eyewear collection, Palmegiani creates the glasses and sunwear for the luxury brand, worn by such style icons as George Clooney, Denzel Washington and Laurence Fishburne.

Palmegiani, 62, comes from a long line of creative people: he inherited his passion for music from his grandfather, who played six instruments. His mother was also an artist: “She had a soprano voice and performed at the theatre but she couldn’t study because she had to care for me, my sister and brother.”

Like many young men, Palmegiani’s passion for rock and roll eventually burned out. By then he was an 18-year-old student in Turin. Fascinated by fashion and creativity and needing money to pay for his studies, he began working with his uncle, a designer of men’s made-to-measure clothing.

“That was the beginning of an exquisite love affair with haute couture,” he says. “My uncle worked for important fashion houses and I helped him research fabrics and colours. Soon I was organizing shows for veteran designers, including Versace and Armani.”

While Palmegiani’s sense of style evolved through his experiences in music and the fashion business, he learned about eyewear by studying to be an optometrist. After graduation he owned and operated an optical store in his native Rome for seven years.

It was a chance meeting with someone who worked for Essilor that led him into eyewear sales. “I started as a sales representative and that’s where I discovered my love for frames and lenses. In eight years at Essilor, I learned all the processes involved in manufacturing and the special qualities of the different lenses available.”

Palmegiani’s Essilor experience provided him with invaluable insight into the world of glasses. But, he says, “I was a man who was never satisfied with what I got and always aspired to more.”

That aspiration led him to De Rigo Vision in 1980. It was a crucial time in the evolution of sunglasses, which were morphing from simple eye protection to fashion accessories, and Palmegiani was looking for a company on the cusp of that change. He joined De Rigo as a sales rep but his big break came when the company’s sunglass designer unexpectedly left the company.

“As a frames salesman, I needed good sunglasses to sell so I decided to design them myself. At that time the Italian sunglass market was dominated by a craze for a particular frame or brand that would sell heavily for a couple of years before being superseded by the next hot product. I realized that a big gap in the market was opening so I took a vintage pair of New York Police Department sunglasses, changed many of the design elements, and a new brand – POLICE – was born.”

POLICE, featuring the classic mirrored blue lenses, was an immediate – and enormous – international success. “In the sunglass industry, blue is inextricably linked to POLICE,” says Palmegiani. “The brand turned that colour into a ‘must have’ in the late 1980s-early 1990s. For about 10 years, the blue mirrored lenses were met with incredible success and acknowledged all over the world as a symbol of freedom and life ‘on the road’, a new and revolutionary look.”

Since then, Palmegiani has worked for the Vuitton group, designing eyewear collections for Givenchy, Celine and Loewe. And since 2005, he has designed the Ermenegildo Zegna eyewear collections, interpreting the core values of the Italian design heritage – craftsmanship, style and quality – and transferring them to eyewear.

Zegna was created to produce the world’s best fabrics and is best known for its men’s clothing line. Their tailored suits focus on creating a perfect fit and the same high standards are applied to every eyeglass frame.

Says Palmegiani: “The most beautiful and the most difficult part of my job is to interpret the language of the people: what they like and would wear. Ermenegildo Zegna gives me the chance to achieve elegance in style, by the continued research of raw materials and new techniques.”

Ronor Occhialli recently obtained the Canadian distribution rights from De Rigo Vision for the collections and Ontario Sales Manager Pat Salamat says the response has been outstanding.

“Of all the brands I’ve launched, including Calvin Klein, Fendi and Coach, this has been the most exciting. We started showing product in April and there has been a phenomenal response based on pre-booking orders across Canada.”

Part of Zegna’s appeal is its image, which Salamat describes as, “superb quality and fit, sophistication and prestige for the man who pursues excellence.”

The brand is uniquely positioned as male luxury, classical, stylish, and elegant. It’s classic style sits ideally between the designer and bridge segments.

“It’s one of a very few brands in the marketplace with that positioning, which means competition is limited,” says Salamat. “Our demographic is men 30-55 — high-end consumers who pay attention to detail and are brand- and product-sensitive.”

Salamat believes that the prestige and outstanding quality of Zegna eyewear will elevate the image of any dispensary that carries it. “Those eyecare professionals will be offering something unique, available only at selective optical locations,” he says. “And that, in turn, will attract an exclusive clientele for whom Zegna is a byword for superior quality, exclusivity, attention to detail and prestige.”

Creating a Job Description: a New Perspective

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By Dana Sacco

manangingyourbusinessAs your eyecare practice expands, it becomes necessary to add new people, something that will change the dynamics of your existing team.

Let’s look at adding a front-line secretary. Here are some questions to consider:

  • To whom will this person report?
  • Does the new candidate’s personality complement the leader’s strengths and weaknesses and create a balance in the workplace?
  • How many staff will be affected by the new person’s responsibilities?
  • Is this an independent or a collaborative role?
  • How quickly and effectively can this person learn a new role?

Why consider so many things for such a junior position? Because turnover is expensive and bad hires result in wasted staffing and financial resources, interrupted customer service and possible errors made during training. If the person stays beyond 90 days, it can be very costly and possibly unpleasant to fire them.

My consulting practice is based on organizational behaviour. I use the Predictive Index®, a scientifically validated behaviour assessment, to understand the personalities of people and how they interact. Now I want to apply this same concept to the job description, using the PRO-Performance Requirement Option™ (PRO) or job description.

As an employer, it’s important to take time to better understand the roles people must play to be successful on the job. If I hire based strictly on knowledge, skills and experience, not only am I gambling on the fit but also on the productivity and general happiness of the person in the position. But if the candidate’s natural behaviours strongly correlate to those required to do the job, I set that person up for success and ultimately contribute to the success of the eyecare practice.

Most people are familiar with interview questions such as: “Are you a team player?” And most candidates sell themselves as being collaborative. But about half of all personality types are not innately collaborative. Therefore, if the actual job description requires collaboration you have a 50/50 chance of accidentally finding a “team player”.

The purpose of defining the role with a scientifically derived benchmark is that you can strategically hire to that benchmark. You can use the online PRO tool to create what you believe will make a person successful on the job. The PRO is a three-page list of common workplace behaviours, each of which is matched to a subset of defined personality traits. The result of selecting the behaviours necessary for the role is depicted in a graph, which has four dots representing different behaviours. Next, use the Predictive Index to assess the list of job applicants. The results of the Predictive index are also depicted in a graph. A trained analyst can derive a lot of information from the graph, including the most predictable and observable behaviours of the person under stress, their energy level and capacity to absorb stress, their decision-making style and engagement.

Here is a sample Pro I created for a position for which I am hiring. It has a distinct “checkmark” pattern. In this case, the meaning of the dots is not relevant. Simply observe the orientation of the graph to the mid-point triangle.

sample

 

 

 

Now, compare the following graphs that show the Predictive Index results of three candidates. Again, the meaning of the dots is not relevant. In the graph for Tina, note the orientation of the dots to the mid-point and notice that instead of a checkmark pattern this candidate has a “Z”-shaped graph. The significance lies in the differences. Tina would experience great stress if she had to alter her behaviours to match the PRO for an extended time.

Candidates:

tina

 

 

 

The next candidate, Dee, has a pattern similar to the PRO and would not have to alter her behaviour to fit the role. We can conclude that because the behaviours are natural forDee, she will thrive in the role.

dee

 

 

 

The last candidate, Linda, has a check mark pattern but it is the opposite of the pattern depicted in the PRO. Like Tina, Linda would be a proverbial “fish out of water” in the role of optometric secretary.

linda

 

 

 

Conclusion:

Dee’s graph, which resulted from the five-minute Predictive Index assessment, closely matches the graph created by the PRO. Each dot represents behavioural characteristics and is consistent with a group of behaviours defined by over 500 PhD-level scientific validations. IfDeehas skills, education and experience to supplement her natural ability (check résumé and references) she would be a very strong candidate.

It is a proven fact that engaged employees are more productive. A management strategy designed around data generated by scientifically validated behavioural assessments is a very credible and powerful way to develop your business. Most importantly, unlike other behavioural assessments, the Predictive Index is compliant with hiring standards and does not expose your company to the risk of litigation.

Higher Ground, Use of High-index Plastic Varies as Much as the Material Itself

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By Brian P. Dunleavy

lensfocusFor Trina Mendria, high-index plastic lenses simply make sense – both from a business standpoint and with regard to the benefits they bring her clients.

“We sell a lot of semi-rimless and rimless frames,” notes the optician and owner of Artsee Eyewear, which has locations in Saanich and Victoria, B.C. “High-index plastic makes up more than 70 per cent of the lenses we sell.”

For Michelle Skinner, optician and owner at Cowan Optical in St. John’s, the situation is much different.

“We sell maybe three or four pairs [of high-index plastic lenses] per week,” she says. “At most, it’s maybe 15 per cent of the lenses we sell.”

So which shop has it right? How much should your eyeglass dispensary use high-index plastic? The answer is simple: both shops have it right because they have based their recommendations of the material on the needs of their patients/clients.

Unlike other premium lens products, which have always had a more defined role in the eyecare professional’s toolkit, dispensing high-index plastic lenses has changed significantly in recent years due to changes in the product category. The category of high-index plastic – which is loosely defined as plastic lenses with indices of refraction of 1.54 or above (in other words, anything higher than CR-39) – has arguably seen more change than any other spectacle lens product over the past 20 years. In the late 1990s and early 2000s, lens manufacturers began introducing more product options in the high-index arena, with the idea of making these lenses more durable and, in some cases, more affordable for eyeglass wearers. As a result, new products in the mid-index range (1.55 to 1.60) and, of course, Trivex® were introduced.

While most of these products are still around, several mainstays have separated themselves from the herd: polycarbonate and Trivex for their impact resistance, and 1.60, 1.67 and 1.74 index plastics for their aesthetics. Historically, these latter products have been seen as options for patients with high-powered prescriptions because they are thin and lightweight. However, as Mendria notes, they have also become a go-to option for patients who want smaller frames. She finds that 1.60 index plastic lenses are perfect for semi-rimless and rimless frames because they are “more durable and won’t chip.

“We know our patients in semi-rimless and rimless will be handling their glasses a lot, just like all eyeglass wearers do,” she says. “So our choice for them is also very pragmatic. I know the 1.60 index will hold up well and there won’t be that much of a sacrifice in Abbe value. Of course, we could put them in an even higher-index product, but we also have to be realistic. Is it worth them looking through a lens with compromised optics just to save a half millimeter in thickness?”

When it comes to high-index, Skinner is pragmatic as well. In her local area, she explains, “most of the high-minus, single-vision eyeglass wearers are getting LASIK.” As a result, most of her clientele, she says, are 45 to 50 years old and are entering or well into presbyopia. Given the advances in progressives with digital or free-form technology, she has been able to fit these patients in 1.67 index plastic lenses with excellent optics, compared to their older-line, high-index progressive lens predecessors. For patients with really high prescriptions, 1.74 index plastic free-form progressive lenses are also an option.

“We don’t see a lot of those,” she says. “But it’s nice to have them there if we need them. All patients want their eyeglasses to look good, and they want thinner and lightweight lenses.”

Two different optical shops in two different communities: two different uses for high-index plastic lenses. Optical shops seem to have discovered how this important product fills the needs of both their businesses and their patients.

Art-Infused Eyewear Aficionado Selects Frames

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By Paddy Kamen

fittingframesMonny Nahoum (who insists on being called by his first name) is an art lover extraordinaire. His store – Envision Optical – in the trendy Kitsilano area of Vancouver shows and sells visual art as well as eyewear. One has to visit the store to believe the incredibly eclectic and stimulating environment he has created.

Monny’s background as a fashion photographer and style consultant stands him in good stead when it comes to selecting frames for his clientele. Attention to detail is the hallmark of Monny’s success and his fitting style, for he considers frames to be art for the face.

“Everyone has something interesting about their face, body or sense of personal style that I can use as inspiration when selecting frames,” says Monny. “I like a frame that makes a statement, if the person wants that. I want them to like the frame on their face more than anything. Even if they chose a frame that is less expensive, it doesn’t matter as long as it fits properly and looks good on them. Everyone walks out of my store looking great and that is how I have built my reputation over the years.”

Monny encourages every potential customer to come and sit down with him in the store so that he can learn about the person. “I have to find out what are they are all about. Do they want the frame for work? If so, what kind of work do they do? What is their lifestyle? What are their dreams and how do they want to project their personality? This background information gives me an idea what kind of frames they will be open to. It can take two or three visits, but if the person already knows and trusts me, they often just sit down and let me choose for them.”

If the client is new and comes in wearing an old-style frame,Monny takes it slowly. “I go little by little and slowly we eliminate the pieces that don’t work for them. And I talk about the price range, letting the person know that we can go from the basement to the penthouse and show them different styles in those price ranges.”

Monny’s style is casual, patient and personal. “If I can help them fulfill part of their dream it makes me happy and I know that this approach will bring in new customers. I don’t push people. They come to me and my attitude is ‘let’s work together’.”

Marchon Canada: A Company on the Move

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By JoAnne Sommers

eyeonindustry_marchonIn business, as elsewhere in life, timing is everything. Just ask Félix Sidès, Marchon Canada’s vice president of sales.

Two years ago, Félix, then an independent sales agent, was employed by Sàfilo Canada and in charge of all the company’s retail sales. That’s when Marchon Eyewear came calling. Félix and his father, Iso, were asked to lead the new management team being put together at Marchon Canada.

“The timing couldn’t have been better,” says Félix. “Marchon is owned by Vision Service Plan (VSP), a Sacramento, CA-based eyecare insurance company that was named one of Fortune magazine‘s “100 Best Companies to Work For” in 2010. VSP is a company of the future and there was a buzz around Marchon because they were starting to acquire new licenses like Valentino, Ferragamo, Lacoste and Nine West. They offered great positions to both my dad (as vice president of operations) and myself, which made the situation ideal.”

Iso Sidès had spent 31 years selling Sàfilo products in Canada and Félix had worked with his father for 15 years. Both men felt it was time for a change, and, “Marchon offered us an amazing opportunity, a chance to grow a smaller company and take it to the next level,” Félix says.

Marchon Canada was launched in 1995 but January 2011 marked an important turning point with the appointment of Sidès père et fils to the company’s leadership group. Soon after their arrival, Marchon began implementing important changes: lowering its frame prices, refining its selection, improving its discount structure, and establishing partnerships with major optical practices and Canadian retailers.

The company’s sales force also underwent a transformation, says Félix. “We changed about two-thirds of our sales reps, adding young, dynamic people who reflect our philosophy, which is always to be there for our customers and always to find new and innovative ways to create stronger partnerships with clients.”

It didn’t take long for the new approach to pay off. Today, Marchon Canada is growing at the rate of more than 30 percent a year and by the end of 2013, the company expects to be doing more than twice the business it did in 2010.

Much of that success can be attributed to Marchon’s team of 78 employees, including its 30 sales agents. The company has a strong culture based on its people, service orientation and focus on teamwork, Félix says.

“We’re driven by sales and customer service and it is very important that our representatives are happy since they are the first point of contact with customers. We’re passionate about what we do and our employees have become passionate about it, too.”

In fact, Félix says he has never seen such team spirit as exists among the 12 members of the Ontario sales team. It began when Michael Bella, who is well known in the eyewear industry, was appointed Marchon’s Ontario sales manager; he then proceeded to recruit several of his friends in the business to join his new team. “They’re driven by a spirit of friendly competition and have a great dynamic amongst themselves and with their respective customers.”

After he joined Marchon, one of Félix’s first orders of business was to build a team that recognized and addressed the needs of Canadian optical retailers. Here, he was working from a position of strength as the man who brought corporate retail eyewear expertise to Canada and created a separate division that exclusively handled sport and fashion customers. In the past 17 months, Marchon has significantly increased its presence in non-optical specialty stores across the country, including department stores, sunglass specialty stores and apparel stores.

The company recently acquired Dragon Alliance, a leading U.S. sport eyewear and accessories brand in the active youth lifestyle market, which brought with it valuable technological expertise in the field of extreme sports.

“Our goal is to be the major optical and sports eyewear player in the industry,” explains Félix. “We have the eyewear license for Nike and Lacoste, two of the biggest players in the sporting industry, and we believe that it is just a matter of time before Marchon becomes the leader in this field.”

To that end, the company is in the process of launching a program involving 12 Golf Town locations in Ontario, B.C. and New Brunswick that will see them offer a selection of Nike specialty golf sunglasses and Nike fashion items. There are also plans to approach golf course pro shops about selling the Nike sunglass collection, specifically those models that are designed for golfing.

Looking to the future, Marchon Canada plans to move into a new state-of-the-art building in July 2013. The building, which will be sited near the company’s current location in Dorval, QC, will feature a much larger warehouse facility that will service the sporting and optical industries. And within five years, the company plans to be doing at least three times its current volume of business – if not more, says Félix.

Eyecare insurance is expected to play a major role in that future growth. VSP, the U.S. leader in vision and eyecare benefits, currently covers more than 55 million Americans under vision insurance plans for individuals and businesses. The company hopes to cover the same proportion of Canadians – about 5.5 million, says Félix.

“Our strategy is to begin by approaching major Canadian companies and then eyecare practices with the goal of establishing partnerships with them,” he explains. “At present, no one in Canada is doing that so the timing is perfect.”

Once again, Félix Sidès and his team are in the right place at the right time.

Stem Cells Harvested from the Retina

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By Paddy Kamen

DiscoveringIt sounds spooky to be sure, but fresh donor cadavers have been used to harvest stem cells from the fluid that surrounds the retina at the back of the eye. This spooky science may hold hope for the millions of people with age-related macular degeneration (AMD), the leading cause of blindness in those over the age of 60.

Stem cells, known as retinal pigment epithelium stem cells (RPESC), are part of a single layer of cells known as the retinal pigment epithelium (RPE), which lies at the back of the retina. The RPESCs seem to lie dormant inside the normal adult eye but once extracted they activate and behave as stem cells, and recent research has found them capable of making stable, healthy RPE cells, in addition to cells with the features of neurons, bone cartilage, fat and muscle cells. Researchers found that about 10 percent of cells from the RPE divided prolifically and produced many new cells and shared markers of stem cells.

The link to AMD is this: it is known that macular degeneration causes RPE cells to die. The hypothesis is that RPESCs could regenerate a pure population of RPE in a culture, which could be used for transplantation to help repair the diseased RPF.

The research team was lead by Dr. Sally Temple, co-founder and scientific director of the Neural Stem Cell Institute (NSCI), based in Rensselaer, NY. Dr. Temple is the recipient of many prestigious awards, including the Jacob Javits Merit award from the Bethesda, MD-based National Institutes of Health (NIH) (2003), as well as a MacArthur fellowship award (2008) in recognition of her contributions to neural stem cell developmental biology.

The NSCI, which aims to harness stem cell technology to relieve suffering caused by injury and diseases of the brain, spinal cord and retina, is the only independent, non-profit stem cell research institute in the U.S.

It turns out that RPE cells can be extracted from live donors as well as from cadavers, and in this study, RPESCs were isolated from donors ranging in age from 22 to 99.

It was the fact that the RPE layer is generated very early in embryonic development that led Dr. Temple and her colleagues to test whether these cells, so essential for proper vision, possessed stem cell-like characteristics.

The NSCI is planning to study AMD and RPESCs on animal models. The scientists are also investigating which other types of nervous system cells can be produced by RPESCs, which may lead to future treatments for other nervous system diseases such as Alzheimer’s and Parkinson’s.

“The hope,” said Dr. Temple, “is that these cells can be harvested from a patient, then re-injected to help repair nervous system damage, without the need for immune-suppressive therapies.”

RPESCs are also being used as a substrate in the culture dish to screen for drugs that may prove effective for AMD.

Research findings were published in the journal of the International Society of Stem Cell Research, Cell Stem Cell, in January 2012[i].

 

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Photoreceptor Transplants in Mice Prove Successful

Three (or more) blind mice are now able to see, at least enough to find their way through a dimly lit maze, thanks to research by the University College London’s (UCL) Institute of Ophthalmology, published in the journal Nature.[ii]

Researchers transplanted immature rod-photoreceptor cells (one of two types of photoreceptor cells in the eye – the other is cones) from healthy young mice into the retinas of adult mice that were blind due to non-functioning rod-photoreceptors. Rod cells are extremely light sensitive, enabling mice (and people) to see in low-light conditions.

The transplanted cells appeared to function almost as well as normal rod-photoreceptor cells and were transmitting visual information to the brain after only four to six weeks, thus verifying earlier research by the same team that showed this to be a possibility.

Running the maze in low-light conditions would be the litmus test of visual acuity in the transplanted mice. They performed far better than untreated mice, finding a visual cue to a hidden platform and getting there quickly, whereas the untreated mice had to find the platform by trial and error.

“We’ve shown for the first time that transplanted photoreceptor cells can integrate successfully with the existing retinal circuitry and truly improve vision,” said UCL Professor Robin Ali, who led the research. “We’re hopeful that we will soon be able to replicate this success with photoreceptors derived from embryonic stem cells and eventually develop human trials.

“Although there are many more steps before this approach will be available to patients, it could lead to treatments for thousands of people who have lost their sight through degenerative eye disorders. The findings also pave the way for techniques to repair the central nervous system as they demonstrate the brain’s amazing ability to connect with newly transplanted neurons.”

Eye diseases that could benefit from photoreceptor transplantation include AMD, retinitis pigmentosa and diabetes-related blindness.

1 SALERO et al. “Adult Human RPE Can Be Activated into a Multipotent Stem Cell that Produces Mesenchymal Derivatives”, Cell Stem Cell, vol. 10, Issue 1, p. 88 – 95, January 2012  http://www.cell.com/cell-stem-cell/abstract/S1934-5909(11)00579-0

[ii] PEARSON et al. “Restoration of vision following transplantation of photoreceptors”, Nature, April 2012, http://dx.doi.org/ 10.1038/nature10997.

Getting Back to Basics

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By JoAnne Sommers

Your Money
With apologies to Thomas Paine, these are the times that try investors’ souls. Given the European debt crisis, continuing low interest rates and ongoing stock market volatility, not to mention the possibility of another recession, it’s tough to know what to do with your money these days.

But before you throw up your hands in despair, Adrian Mastracci, Vancouver-based portfolio manager with KCM Wealth Management Inc., has three recommendations for dealing with the current investment environment.

 

  1. Refrain from making changes just for the sake of change
  2. Don’t get into the investing boat without a life jacket
  3. Get back to portfolio basics as soon as possible

“Today’s investment climate is filled with uncertainties and investor patience can easily vanish,” says Mastracci. “So you need to develop sensible strategies that allow you to control and accept uncertainty.”

Mastracci offers the following “life jackets” to help you get through the current malaise:

• Have a written game plan.

If you don’t have one or it’s out-of-date, create a new one. Your game plan takes into consideration your investor profile, time horizon and risk tolerance, plus diversification, tax friendliness and asset mix. It becomes the foundation for the ongoing management of your portfolio.

• Review your asset mix in the four core investment categories: equities, bonds, cash and real estate.

It’s important to understand asset mix or allocation because research shows that it is responsible for most of a portfolio’s variability. Your asset allocation is determined by your risk tolerance and that is impacted by your age, net worth, time horizon and investing experience, plus psychological factors such as preference and attitude.

Portfolios are made up of some combination of equities (stocks), bonds, also known as fixed-income investments, and short-term investments, also referred to as money market or cash investments.

Stocks offer greater potential for growth but come with a higher investment risk. Generally, the more years until retirement, the bigger the role stocks could play in your investment mix.

The potential risk and return on bonds is moderate – generally lower than stocks, but higher than short-term investments. In general, bond prices rise when interest rates fall, and vice versa.

Short-term investments are considered the least risky of the three basic investment types but they also tend to produce the lowest returns over the long run. Short-term investments often become more important as you get closer to and into retirement.

It is important to review your asset mix periodically because it may not reflect your current risk tolerance, says Mastracci.

“You may have too much invested in stocks and mutual funds, for example. A 70 to 85 per cent mix of equities is an aggressive profile and 85 to 100 per cent is speculative. It takes a serious appetite for risk to embrace either of these profiles.”

Most investors are comfortable within a 40 to 60 per cent equity mix, he adds.

One way to think about risk tolerance is to ask yourself at what point losses start to hurt you, notes Mastracci. “Capital preservationists might be done at 20 per cent while more speculative people may be able to stand a 50 per cent loss.”

• Rebalance your portfolio when necessary.

Most people don’t understand the concept of rebalancing, says Mastracci, who explains it as follows:

“If, for instance, you bought an equity at $100 and it reaches $150, sell some of it, say 20 per cent, and put the proceeds into an area where you need to plug a hole, such as fixed income.”

Rebalancing seems counter-intuitive but it makes sense because markets don’t keep going up indefinitely. Moreover, equities and fixed-income investments tend to move in opposite directions. Inevitably what goes up will come down and vice versa. So as an investment starts to increase in value, sell some (not all) of it, take a profit and put that into something else.

By following this strategy you’ll be adhering to the time-honoured – if seldom-followed – mantra, ‘buy low and sell high’.

• Review the duplication of stocks among your mutual funds.

There is a lot of duplication in most portfolios, says Mastracci, adding that it’s not unusual to find 60 to 65 per cent overlap, particularly among people who hold mutual funds.

“Owning a collection of funds full of overlap reduces your portfolio diversification and if you value broad portfolio diversification, you want little duplication.”

He suggests you analyze the individual securities inside each fund to determine how much overlap exists. Fund names may differ, but the content often contains much similarity or duplication.

“Having a personal asset mix helps to reduce overlap. You can also use Exchange Traded Funds (ETFs) and index funds for that purpose. Fewer than 10 ETFs with low or no overlap should suffice to right your mix.”

B.C. Regulation Angers Optometrists’ Groups

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By JoAnne Sommers

special_regulationsThe contentious issue of interpupillary distance (PD) measurements is back in the news in British Columbia. The latest development is a May 26 decision by the Board of the College of Optometrists of B.C. to amend its policy respecting eyeglass prescriptions.

The provincial government deregulated ophthalmic dispensing in B.C. in May 2010 and one result was to require optometrists to measure a patient’s PD at the time of an eye health examination. The measurement had to be included as part of the prescription for corrective eyeglass lenses, where such a prescription is a reasonable outcome of the exam. Optometrists who do not dispense corrective lenses and those who are not affiliated or associated with someone who does, are not required to provide that measurement as part of the prescription.

The College amended its policy in response to a letter from the Ministry of Health by deleting a phrase which had allowed optometrists to charge separately for the service, with the agreement of the patient prior to the exam. From now on, optometrists must include any fee for this service in the fee for the eye health exam.

When it announced deregulation, the Ministry cited an October 2009 decision by the B.C. Court of Appeal, which found that Coastal Contacts, a B.C.-based online eyewear seller, was contravening existing regulations by dispensing contact lens refills without seeing a prescription. “These regulatory changes will address the court decision,” the Ministry said, in a news release.

At that time, the College advised the Ministry that the PD measurement is part of the dispensing function, not part of an eye health examination. And the Ministry said that the changes being implemented would not prohibit optometrists from charging a reasonable fee for the service of providing a PD measurement.

B.C. remains the only jurisdiction in North America that allows eyeglass and contact lens sales without verification of a prescription.

The Ministry raised the matter of PD measurements with the College this spring after receiving complaints of non-compliance with the Optometrists Regulation. In its letter to the College, the Ministry referred to allegations that some optometrists were “illegally charging fees in relation to PD measurements.” The letter also referenced, “documents… which appear to set out the business practices the optical retailer IRIS follows in relation to PD measurement, as well as the rationale for them,” based on IRIS’s interpretation of the Optometrists Regulation and the College policies. IRIS had been by advising all its patients of a separate fee for the PD measurement on its pre-exam questionnaire.

That practice and the statement in the College policy document suggesting that patients may be asked to agree to pay a separate fee for the PD measurement, “are inconsistent with and not supported by the relevant provisions of the Optometrists Regulation,” the letter said.

In his response to the letter, College Chair Dr. Dale Dergousoff said the organization’s jurisdiction is limited to regulating the activities of individual registrants, not businesses such as IRIS, and that it is not accountable for IRIS’s business practices.

Dr. Dergousoff added that the College, “would have been grateful for the opportunity to have prior consultation,” before the province deregulated ophthalmic dispensing, “as it represented a significant departure from the practice of optometry in this province and indeed continues to reflect a significant departure from the practice in all other Canadian and American jurisdictions.”

Nevertheless, the College decided to amend its policy, removing the phrase that allowed optometrists to charge separately for taking PD measurements if the patient agreed to it before the eye exam.

The decision was called, “very disappointing,” by IRIS officials. In a letter to its membership, Vice President Michael Chaiken said: “Although, we believe that neither the Ministry of Health nor the College has the legal right to force optometrists to act in this way… IRIS has decided to conform to the new College policy and focus all its attention on ongoing efforts to provide the best possible patient care and the highest quality eyewear to its customers.”

His letter added that IRIS would, “continue to examine all options relating to this decision as events evolve in British Columbia.”

Both the B.C. Association of Optometrists (BCAO), which has about 500 members, and the Canadian Association of Optometrists (CAO), which represents 517 optometrists across the province, criticized the Health Ministry’s position on the matter.

Dr. Gurpreet Leehka, chair of the BCAO’s external public relations committee, said he understood the College’s decision to amend its policy. “I think it was necessary for them to clarify the rules, given the government’s request.” However, he questioned the government’s handling of the issue.

“It is odd that the B.C. government is playing a role in what information goes on a prescription for glasses,” he said. “Putting just one measurement on a prescription can be confusing for the person who is ordering glasses, but the more information we give the consumer the greater the risk of errors. The matter should be left in the dispenser’s hands.

“I know of few other cases in the healthcare industry where government has lowered the standard of care to assist one company that’s known to provide products of inferior quality,” Dr. Leehka added, referring to Coastal Contacts. “Government should want to ensure that safety standards are being met. But allowing anyone to sell glasses without a license and requiring the PD measurement to be put on all prescriptions means a lower standard in eyewear dispensing.”

CAO Executive Director Glenn Campbell said the B.C. government is, “wrong and ill-informed by requiring the PD to be part of the eye examination process. PD measurements are dependent on the type of frames and lenses that make up the prescription glasses. A PD is only one required measurement for any lens beyond a single vision lens.”

Obtaining prescription eyewear online is in conflict with provincial regulations in every province except B.C., he added.

According to Campbell, the provincial legislation should be revisited. “If Internet companies want to dispense product, they should be governed by the same rules as everyone else,” he said.