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Imagine stepping on stage with your favorite artist in VR from your browser. Discover secret rooms, join live Q&As with other fans, shop for merch, and more. Connect with your audience like never before.
NEW YORK, July 31, 2023 /PRNewswire/ -- BR Marketing Group, a leading luxury brand marketing agency in NYC, is excited to offer its new Web Virtual Reality (WebVR) service to clients worldwide. With this service, clients can create memorable marketing experiences in WebVR. WebVR is a technology that allows users to enjoy virtual reality from their browsers, without any extra hardware or software.
BR Marketing Group has a team of creative experts who design and promote WebVR experiences that capture the unique essence of each brand. Whether it's a concert, a store, a gallery, or more BR Marketing Group can bring it to life in WebVR.
"Our service stands out because we embrace the future. We know how innovative technologies like WebVR can transform the customer experience," said Andrea Canas, CEO of BR Marketing Group.
- Drake, global superstar, has recently taken his concerts and online store to the next level by adding immersive technology for an interactive virtual experience. He is not alone. Luxury brands and artists are following suit.
- Revenue in the VR Advertising market is projected to reach US$161.70m in 2023, revenue is expected to show an annual growth rate (CAGR 2023-2027) of 2.33%, resulting in a projected market volume of US$177.30m by 2027, according to a recent study.
WebVR is still a new and fast-growing tech, able to give immersive, interactive, awe-inspiring experiences. WebVR also connects with IRL events, enabling users to explore real-world objects, locations, and people through VR.
To get more info on WebVR or work with BR Marketing Group for your next virtual or IRL event, visit us at brmarketgroup.com or call 332-600-4466.
About BR Marketing Group
As one of the first creative agencies to offer WebVR immersive services, BR Marketing Group combines its web development, design, and marketing skills to create amazing VR events that connect the virtual and physical worlds.
BR Marketing Group is a leading luxury brand marketing agency in NYC, led by Andrea Cañas, a visionary Latina leader. She and her team of creative experts' craft captivating and unforgettable marketing experiences that bring out the unique essence of each brand they work with.
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SOURCE BR Marketing Group
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https://www.wbrc.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
| 2023-07-31T21:01:50
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Celebrate the Blooms with Inaugural National Sunflower Day on August 5
BISMARCK, N.D., July 31, 2023 /PRNewswire/ -- In late July and into August, vast fields of brilliant yellow sunflowers blanket North Dakota during the peak growing season and visitors are awed by the landscape awash in summery hues. This year, North Dakota Tourism invites visitors to celebrate these picturesque fields with the inaugural National Sunflower Day on August 5, 2023.
The National Day Calendar recognition, slated for the first Saturday each August, is a collaboration between the National Sunflower Association and North Dakota Tourism and recognizes the inherent happiness the sunflowers evokes and the prominence of North Dakota's agricultural industry in growing the cheerful blooms.
For visitors planning a picture-perfect road trip for National Sunflower Day and beyond, North Dakota Tourism has launched the state's 2023 Sunflower Blooms Guide detailing the location of more than a dozen stunning sunflower fields. Weekly bloom updates will highlight the progress of the seasonal color as it unfolds across the state making the map a perfect tool for making the most of the waning days of summer. North Dakota Tourism is also making an ideal road trip snack available to visitors with packets of savory sunflower seeds in mailboxes at select fields.
To capture the iconic blooms in photos and videos, keep the following tips in mind:
- In general, visitors are welcome to stop by fields included on the Sunflower Blooms Guide as long as they are respectful and don't enter or drive into the fields.
- Scout the field location early to capture that golden hour image or video just-after sunrise or just-before sunset. Visitors will want to set up early to take advantage of the golden hues.
- Keep in mind that cloudy days are often some of the best times to capture vibrant close-ups and more subtle variations in shadows.
- Tag your photos and videos on social media using #BeNDLegendary to celebrate your love of the sunny blooms.
- Fuel your photoshoot with a beloved North Dakota snack with Fargo's irresistible SunButter made from roasted sunflower seeds or Wahpeton's Giants Snacks with original and kettle roasted flavors of sunflower seeds.
As the top sunflower producing state last year, North Dakota farmers planted 702,000 acres of the beautiful blooms in 2022, and the state is the top producer of edible sunflower seeds in the U.S. More sunflower recipes, videos and little-known facts are available at Brighten Your Day with the Amazing Sunflower. For more on planning a trip to North Dakota, visit NDtourism.com.
Follow North Dakota Tourism on Facebook at www.facebook.com/TravelND, on Instagram at https://www.instagram.com/northdakotalegendary/ on or on Twitter at http://twitter.com/NorthDakota and get tips on what to see and do all year long.
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SOURCE North Dakota Tourism Division
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https://www.wflx.com/prnewswire/2023/07/31/north-dakota-landscape-awash-vibrant-yellow-sunflowers/
| 2023-07-31T21:01:52
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NICOSIA, Cyprus (AP) — Greece’s prime minister said Monday that his government wants to take full advantage of a developing positive political climate with neighboring Turkey in order to improve bilateral relations despite a string of decades-old disputes.
But Greek Prime Minister Kyriakos Mitsotakis said that doesn’t mean Turkey has “substantially changed” its stance on key differences between the two countries and needs to “decisively abandon its aggressive and unlawful conduct” against Greece’s sovereignty and territorial integrity.
Turkey and Greece remain at odds over maritime boundaries in the eastern Mediterranean, a dispute that affects irregular migration into the European Union, mineral rights and the projection of military power.
Mitsotakis said that he agreed with Turkish President Recep Tayyip Erdogan during a NATO summit in Vilnius, Lithuania, on July 11-12 to initiate new “lines of communication” and to maintain “a period of calm.”
High-level talks between the the two countries are expected to take place in the Greek city of Thessaloniki later this year.
However, the Greek prime minister said that Erdogan’s outreach to the EU can’t come at the expense of efforts to heal Cyprus’ nearly half-century ethnic division.
Speaking after talks with Cypriot President Nikos Christodoulides, Mitsotakis said that he told Erdogan that improved European-Turkish ties can’t exclude a Cyprus peace accord and that the issue can’t be “left by the wayside.”
Turkey and the breakaway Turkish Cypriots have insisted on a two-state solution since July 2017 when the most recent round of U.N.-facilitated peace talks collapsed.
That position overturned a long-standing agreement sanctioned by the U.N. Security Council in numerous resolutions that any peace deal would aim for a reunified Cyprus as a federation made up of Greek and Turkish speaking zones.
Cyprus was split in 1974 when Turkey invaded following a coup by supporters of union with Greece. Only Turkey recognizes a Turkish Cypriot declaration of independence in the island’s northern third, where more than 35,000 Turkish troops are stationed.
On Friday, Turkish Cypriot leader Ersin Tatar repeated that peace talks could resume only if Greek Cypriots recognize the Turkish Cypriots’ “sovereign equality.”
Christodoulides said Monday that any improvement in European-Turkish relations should be based on reciprocal action by Turkey, adding that the EU prioritizes a Cyprus peace deal in line with U.N. resolutions.
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https://www.wric.com/business/us-world-business/ap-greek-prime-minister-seeks-improved-relations-with-turkey-but-says-ankara-needs-to-drop-aggression/
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13% Sequential Revenue Growth Including 10% Organic
Maintains Strong Balance Sheet Post-Acquisitions of Atreus and businessfourzero
CHICAGO, July 31, 2023 /PRNewswire/ -- Today Heidrick & Struggles International, Inc. (Nasdaq: HSII) ("Heidrick & Struggles", "Heidrick" or the "Company") announced financial results for its second quarter ended June 30, 2023.
Second Quarter Highlights:
- Net revenue of $271.2 million increased 13% sequentially, 10% organically
- Operating income of $13.6 million decreased $4.2 million sequentially and operating margin was 5.0%
- Adjusted operating income of $20.8 million increased 17% sequentially and adjusted operating margin was 7.7%
- Adjusted EBITDA of $36.4 million increased 33% sequentially and adjusted EBITDA margin was 13.4%
- Net income was $9.0 million and diluted earnings per share was $0.44; adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73
"We are very pleased with the second quarter results which included the first full quarter of results from our recent acquisition of Atreus Group ("Atreus") in our On-Demand Talent segment, as well as the results from businessfourzero ("B4Z") in our Heidrick Consulting segment. Even before the positive effects of these acquisitions, each of our lines of business demonstrated organic sequential growth, despite ongoing macro uncertainty and an anticipated return to more normalized levels of business performance. This validates our focus on the steadfast execution of our strategy while maintaining strong profitability," stated Heidrick & Struggles' President and Chief Executive Officer, Krishnan Rajagopalan. "Importantly, the integrations of both our recent acquisitions are progressing smoothly. We are advancing our diversification strategy while continuing to make appropriate investments in our digital capabilities and technologies throughout the company. These initiatives are aimed at providing our clients with the next generation of talent and leadership advisory services, enabling them to achieve higher performance through their leaders and teams in an ever-evolving business landscape."
2023 Second Quarter Results
Consolidated net revenue of $271.2 million compared to record consolidated net revenue of $298.7 million in the 2022 second quarter. Consolidated financial results include the first full quarter of contribution from the Company's recent acquisitions of Atreus and B4Z.
On a sequential basis, 2023 second quarter net revenue increased 13.3% from the 2023 first quarter, 10% of that growth was organic, as the Company experienced growth in Executive Search driven by the Americas and Europe markets, partially offset by a decline in the Asia Pacific market, along with sequential revenue growth in Heidrick Consulting and On-Demand Talent. 2023 second quarter adjusted operating income increased 17.2% and adjusted operating margin increased 30 basis points to 7.7% compared to 7.4% in the 2023 first quarter. Adjusted EBITDA of $36.4 million in the 2023 second quarter increased 33% sequentially and adjusted EBITDA margin increased 190 basis points to 13.4% compared to 11.5% in the 2023 first quarter. 2023 second quarter adjusted net income was $15.0 million compared to $15.6 million in the 2023 first quarter. This generated adjusted diluted earnings per share in the 2023 second quarter of $0.73 compared to $0.76 in the 2023 first quarter.
Executive Search net revenue of $206.8 million compared to net revenue of $253.9 million in the 2022 second quarter reflecting an anticipated market slowdown combined with a return to more normalized operating levels. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 0.3%, or $0.8 million, net revenue decreased 18.2%, or $46.3 million, from the 2022 second quarter. Net revenue decreased 21.3% in the Americas (down 21.2% on a constant currency basis), decreased 5.3% in Europe (down 6.1% on a constant currency basis), and decreased 23.9% in Asia Pacific (down 20.5% on a constant currency basis) when compared to the prior year second quarter. The Social Impact and Industrial practice groups exhibited growth over the prior year.
The Company had 423 Executive Search consultants at June 30, 2023, compared to 388 at June 30, 2022. Productivity, as measured by annualized Executive Search net revenue per consultant, was $1.9 million compared to $2.6 million in the 2022 second quarter, reflecting a higher number of consultants combined with lower revenue. Average revenue per executive search was approximately $143,000 compared to $153,000 in the prior year period. The number of search confirmations decreased 12.7% compared to the year-ago period.
On-Demand Talent net revenue of $39.2 million, an increase of 75.5% compared to net revenue of $22.4 million in the 2022 second quarter, primarily due to the acquisition of Atreus, partially offset by a decrease in the volume of legacy on-demand projects.
Heidrick Consulting net revenue of $25.2 million compared to net revenue of $22.4 million in the 2022 second quarter. The Company had 89 Heidrick Consulting consultants at June 30, 2023, compared to 66 at June 30, 2022.
Consolidated salaries and benefits decreased $28.8 million, or 13.9%, to $178.9 million compared to $207.7 million in the 2022 second quarter. Year-over-year, fixed compensation expense increased $18.8 million due to base salaries and payroll taxes, the deferred compensation plan, reorganization, and retirement and benefits, as well as the acquisitions of Atreus and B4Z, partially offset by a decrease in stock compensation. Variable compensation decreased $47.6 million due to lower bonus accruals related to decreased consultant productivity. Salaries and benefits expense was 66.0% of net revenue for the quarter compared to 69.5% in the 2022 second quarter.
General and administrative expenses increased $5.3 million, or 15.1%, to $40.5 million compared to $35.2 million in the 2022 second quarter. The increase was due to intangible amortization and accretion, office occupancy, IT, and taxes and licenses, partially offset by a decrease in business development travel. As a percentage of net revenue, general and administrative expenses were 14.9% for the 2023 second quarter compared to 11.8% in the 2022 second quarter.
The Company's cost of services was $25.3 million, or 9.3% of net revenue for the quarter, compared to $17.4 million, or 5.8% of net revenue in the 2022 second quarter. This related to an increase in the volume of On-Demand Talent projects driven by the acquisition of Atreus.
The Company's research and development expenses were $5.7 million, or 2.1%, of net revenue for the quarter compared to $4.5 million, or 1.5%, of net revenue for the second quarter 2022.
In the 2023 second quarter, the Company recorded a non-cash goodwill impairment charge of $7.2 million associated with the Company's Heidrick Consulting segment. In the 2022 fourth quarter, the Company conducted its most recent annual goodwill impairment evaluation, which indicated that the carrying value of the Heidrick Consulting reporting unit was less than its fair value. During the 2023 second quarter, the Company acquired B4Z and recorded approximately $7.1 million of goodwill in the Heidrick Consulting reporting unit. Due to the inclusion of goodwill in a reporting unit with a pre-existing fair value shortfall, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the 2023 second quarter, which resulted in the impairment of the recently acquired B4Z goodwill.
Including the previously mentioned non-cash impairment charge, operating income was $13.6 million for the quarter compared to $33.9 million in the 2022 second quarter. Operating income margin was 5.0% versus 11.3% in the 2022 second quarter. Excluding the non-cash impairment charge, adjusted operating income in the 2023 second quarter was $20.8 million and adjusted operating margin was 7.7%.
Adjusted EBITDA was $36.4 million compared to $36.8 million in the 2022 second quarter. Adjusted EBITDA margin was 13.4%, compared to 12.3% in the 2022 second quarter. In Executive Search, adjusted EBITDA was $53.9 million compared to $52.3 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $2.6 million versus $0.6 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $1.6 million compared to a loss of $0.1 million in the prior year period.
Net income was $9.0 million and diluted earnings per share was $0.44, with an effective tax rate of 46.8%. This compares to net income of $24.1 million and diluted earnings per share of $1.19, with an effective tax rate of 30.9% in the 2022 second quarter. Excluding the non-cash impairment charge recorded in the 2023 second quarter, adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73, with an adjusted effective tax rate of 37.7%.
Net cash provided by operating activities was $46.9 million, compared to $82.7 million in the 2022 second quarter. Cash, cash equivalents and marketable securities at June 30, 2023 was $239.0 million compared to $336.6 million at June 30, 2022 and $621.6 million at December 31, 2022. The Company's cash position typically builds throughout the year as employee bonuses are accrued, mostly to be paid out in the first half of the year.
2023 Six Months Results
For the six months ended June 30, 2023, consolidated net revenue was $510.5 million compared to $582.6 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $6.1 million, consolidated net revenue decreased 11.3%, or $65.9 million, compared to the prior year period.
Executive Search net revenue in the first six months of 2023 decreased 20.0%, or $99.2 million, to $397.3 million from $496.5 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $5.1 million, net revenue decreased 19.0%, or $94.1 million. Net revenue decreased 21.5% in the Americas (decreased 21.3% on a constant currency basis), decreased 13.7% in Europe (decreased 11.3% on a constant currency basis), and decreased 21.9% in Asia Pacific (decreased 18.0% on a constant currency basis). Only the Social Impact and Industrial practice groups exhibited growth over the prior year. Productivity was $1.9 million for the first six months of 2023 compared to $2.6 million in the first six months of 2022. The average revenue per executive search was $133,000 in the first six months of 2023 compared to $137,000 the same period in 2022, while search confirmations decreased 17.6%.
On-Demand Talent net revenue in the first six months of 2023 was $70.4 million compared to $45.7 million in the same period of 2022. The increase in net revenue was primarily driven by the acquisition of Atreus, as well as an increase in the volume of legacy on-demand projects.
Heidrick Consulting net revenue in the first six months of 2023 increased 6.3%, or $2.5 million, to $42.9 million from $40.4 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 2.0%, or $0.8 million, Heidrick Consulting revenue increased 8.3%, or $3.3 million, compared to the prior year period.
Operating income for the first six months of 2023 was $31.4 million compared to operating income of $64.1 million in the same period of 2022. The operating income margin was 6.1% compared to 11.0% in the first six months of 2022. Excluding the non-cash impairment charge recorded in the 2023 year-to-date period, adjusted operating income was $38.6 million and adjusted operating income margin was 7.6%.
Adjusted EBITDA for the first six months of 2023 was $63.8 million and adjusted EBITDA margin was 12.5%, compared to adjusted EBITDA of $72.5 million and adjusted EBITDA margin of 12.4% for the same period in 2022. In Executive Search, adjusted EBITDA was $102.3 million compared to $104.2 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $1.2 million versus $0.9 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $4.3 million compared to a loss of $1.9 million in the prior year period.
Net income for the first six months of 2023 was $24.6 million and diluted earnings per share was $1.19, with an effective tax rate of 38.1%. This compares to net income of $42.6 million and diluted earnings per share of $2.08, with an effective tax rate of 32.2%, in the first six months of 2022. Excluding the restructuring charge recorded in the 2023 year-to-date period, adjusted net income was $30.6 million and adjusted diluted earnings per share was $1.48 with an adjusted effective tax rate of 34.8%.
Dividend
The Board of Directors declared a 2023 second quarter cash dividend of $0.15 per share payable on August 25, 2023, to shareholders of record at the close of business on August 11, 2023.
2023 Third Quarter Outlook
The Company expects 2023 third quarter consolidated net revenue of between $245 million and $265 million, which reflects typical summer seasonality, while acknowledging that continued fluidity in external factors, such as the foreign exchange and interest rate environments, foreign conflicts, inflation and macroeconomic constraints on pricing actions, may impact quarterly results. In addition, this outlook is based on the average currency rates in June 2023 and reflects, among other factors, management's assumptions for the anticipated volume of new Executive Search confirmations, On-Demand Talent projects, and Heidrick Consulting assignments, consultant productivity, consultant retention, and the seasonality of the business along with the current backlog.
Quarterly Webcast and Conference Call
Heidrick & Struggles will host a conference call to review its second quarter results today, July 31, 2023 at 5:00 pm Eastern Time. Participants may access the Company's call and supporting slides through its website at www.heidrick.com or by dialing (888) 440-4091 or (646) 960-0846, conference ID# 6106012. For those unable to participate on the live call, a webcast and copy of the slides will be archived at www.heidrick.com and available for up to 30 days following the investor call.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world's top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, diversity and inclusion, leadership assessment and development, organization and team acceleration, culture shaping and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 65 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time. ® www.heidrick.com
Non-GAAP Financial Measures
To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Heidrick & Struggles presents certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of comprehensive income, balance sheets or statements of cash flow of the Company.
Non-GAAP financial measures used within this earnings release are adjusted operating income, adjusted operating income margin, adjusted net income, adjusted diluted earnings per share, adjusted effective tax rate, adjusted EBITDA, adjusted EBITDA margin, and consolidated net revenue excluding the impact of exchange rate fluctuations. These measures are presented because management uses this information to monitor and evaluate financial results and trends. Management believes this information is also useful for investors to evaluate the comparability of financial information presented. Reconciliations of these non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with GAAP are provided as schedules attached to this release.
Adjusted operating income reflects the exclusion of goodwill impairment.
Adjusted operating income margin refers to adjusted operating income as a percentage of net revenue in the same period.
Adjusted net income and adjusted diluted earnings per share reflect the exclusion of goodwill impairment, net of tax.
Adjusted effective tax rate reflects the exclusion of goodwill impairment, net of tax.
Adjusted EBITDA refers to earnings before interest, taxes, depreciation, intangible amortization, equity-settled stock compensation expense, earnout accretion, earnout obligation adjustments, contingent compensation related to acquisitions, deferred compensation plan income and expense, reorganization costs, impairment charges, restructuring charges, and other non-operating income (expense).
Adjusted EBITDA margin refers to adjusted EBITDA as a percentage of net revenue in the same period.
The Company evaluates its results of operations on both an as reported and a constant currency basis. The constant currency presentation is a non-GAAP financial measure, which excludes the impact of fluctuations in foreign currency exchange rates. The Company believes providing constant currency information provides valuable supplemental information regarding its results of operations, consistent with how it evaluates its performance. The Company calculates constant currency percentages by converting its financial results in a local currency for a period using the average exchange rate for the prior period to which it is comparing. This calculation may differ from similarly titled measures used by other companies.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding guidance for the third quarter of 2023. The forward-looking statements are based on current expectations, estimates, forecasts, and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "outlook," "projects," "forecasts," "aim" and similar expressions. Forward-looking statements are not guarantees of future performance, rely on a number of assumptions, and involve certain known and unknown risks and uncertainties that are difficult to predict, many of which are beyond our control. Factors that may cause actual outcomes and results to differ materially from what is expressed, forecasted, or implied in the forward-looking statements include, among other things, our ability to attract, integrate, develop, manage and retain qualified consultants and senior leaders; our ability to prevent our consultants from taking our clients with them to another firm; our ability to maintain our professional reputation and brand name; our clients' ability to restrict us from recruiting their employees; our heavy reliance on information management systems; risks arising from our implementation of new technology and intellectual property to deliver new products and services to our clients; our dependence on third parties for the execution of certain critical functions; the fact that we face the risk of liability in the services we perform; the fact that data security, data privacy and data protection laws and other evolving regulations and cross-border data transfer restrictions may limit the use of our services and adversely affect our business; any challenges to the classification of our on-demand talent as independent contractors; the increased cybersecurity requirements, vulnerabilities, threats and more sophisticated and targeted cyber-related attacks that could pose a risk to our systems, networks, solutions, services and data; the impacts, direct and indirect, of the COVID-19 pandemic (including the emergence of variant strains) or other highly infectious or contagious disease on our business, our consultants and employees, and the overall economy; the aggressive competition we face; the fact that our net revenue may be affected by adverse economic conditions including inflation, the impact of foreign currency exchange rate fluctuations; our ability to access additional credit; social, political, regulatory, legal and economic risks in markets where we operate, including the impact of the ongoing war in Ukraine and the risks of an expansion or escalation of that conflict; unfavorable tax law changes and tax authority rulings; the timing of the establishment or reversal of valuation allowance on deferred tax assets; the fact that we may not be able to align our cost structure with net revenue; any impairment of our goodwill, other intangible assets and other long-lived assets; our ability to execute and integrate future acquisitions; and the fact that we have anti-takeover provisions that could make an acquisition of us difficult and expensive. We caution the reader that the list of factors may not be exhaustive. For more information on these risks, uncertainties and other factors, refer to our Annual Report on Form 10-K for the year ended December 31, 2022, under the heading "Risk Factors" in Item 1A, as updated in Part II of our subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Investors & Analysts:
Suzanne Rosenberg, Vice President, Investor Relations
srosenberg@heidrick.com
Media:
Nina Chang, Vice President, Corporate Communications
nchang@heidrick.com
View original content:
SOURCE Heidrick & Struggles International, Inc.
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Animal Shelters, Rescue Groups, and Happy Adopters, Nationally and Internationally, Encouraged to Celebrate the Role Adopted Dogs Play in Our Lives
PORT WASHINGTON, N.Y., July 31, 2023 /PRNewswire/ -- Tuesday, August 1st is DOGust 1ST ®– the official birthday for all rescue dogs – and North Shore Animal League America is encouraging animal lovers around the country and globe to join them in celebrating the incredible meaning our adopted animals add to our lives.
Since the actual dates of birth for most rescued dogs are unknown, Animal League America created DOGust 1st to celebrate rescue dogs (those adopted and those awaiting loving homes.) Since 2008, these "Mutt-i-grees" have had this day designated to honor the incredible impact they make on our lives.
"This is a wonderful opportunity to celebrate rescue dogs and the invaluable role they play in our lives, while raising awareness about the importance of rescue and adoption," said Joanne Yohannan, Senior Vice President, Operations, North Shore Animal League America.
In honor of DOGust 1st, North Shore Animal League America, and many of their shelter partners across the country, will be participating in DOGust 1st festivities throughout the week (August 1 – 7.) By encouraging adoption specials, birthday themed activities, and local media opportunities, even more rescue dogs are expected to find loving, responsible homes.
To find an adoptable pet at a shelter or rescue group in your area go to www.animalleague.org.
To find a participating DOGust 1st group near you visit www.animalleague.org/dogust1st.
For video highlights of DOGust 1st, visit: DOGUST 1ST ASSETS
Photo & Video Credit: North Shore Animal League America
MEDIA CONTACT:
KATHLEEN LYNN
Senior Director of Communications
Cell: (516) 528-7878
Email: KathleenL@animalleague.org
#DOGust1st #GetYourRescueOn
About NORTH SHORE ANIMAL LEAGUE AMERICA
Animal League America has saved more than 1.1 million lives. As the world's largest no-kill rescue and adoption organization, we understand that a rescue isn't complete until each animal is placed into a loving home. Our innovative programs provide education to reduce animal cruelty and advance standards in animal welfare. We reach across the country to rescue animals from overcrowded shelters, unwanted litters, commercial breeding facilities, natural disasters and other emergencies and find them permanent, loving homes. www.animalleague.org
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SOURCE North Shore Animal League America
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https://www.wflx.com/prnewswire/2023/07/31/north-shore-animal-league-america-leads-worldwide-celebration-dogust-1st-official-birthday-all-rescue-dogs/
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WASHINGTON (AP) — For more than a year, the U.S. economy has defied predictions of a forthcoming recession. It has withstood 10 interest rate hikes in 16 months from an inflation-fighting Federal Reserve. In June, America’s employers added a healthy 209,000 jobs.
Will the economy remain resilient? Can the Fed achieve a notoriously difficult “soft landing” — slowing growth just enough to tame inflation without causing a recession?
The Associated Press spoke recently with Gus Faucher, chief economist at PNC Financial Services Group. The conversation has been edited for length and clarity.
Q: The job market is cooling but remains strong. Does that suggest a soft landing?
A: What we have seen in the job market so far in 2023 is consistent with a soft landing. Over the past three months, we’ve added 244,000 jobs per month. That’s still too high from the Fed’s perspective but much better than what we had at the end of last year. Although it’s consistent with a soft landing, it’s also consistent with a story where job growth continues to slow, the economy continues to weaken and we get a recession at the end of 2023. We don’t know what the outcome will be. It’s more likely than not that we get a recession.
Q: When would a downturn begin?
A: A few months ago, we were seeing it starting in the second half of 2023. Now we’re seeing late 2023 or early 2024. The labor market is still holding up. Consumers are still in decent shape. But I do think we will continue to feel the impact of the Fed’s monetary tightening. By the end of this year or sometime early next year, those higher rates will be a significant drag on economic activity and lead to recession. But the economy has held up somewhat better than we were expecting.
The economy just can’t continue to add this many jobs per month. We just don’t have the labor force out there.
Q: Where is inflation headed?
A: We will see slowing inflation. If you go back to 2021, 2022, a lot of that inflation was coming on the goods side. Now, the inflation is coming on the services side. Services inflation tends to be stickier, and it tends to be more driven by what’s going on in the labor market. So the tight labor market is contributing to high services inflation. That will contribute to inflation remaining higher than the Fed would like in the near term. By the end of this year, early next year, we will see a significant softening in the labor market that will help bring inflation down to the Fed’s 2% target.
Q: Will the job market continue to favor workers over the longer term?
A: We have seen structural changes. The pandemic pushed forward a lot of retirements. You had people who were close to retirement in 2020 and planning on working a few more years. But when the pandemic came along, they decided to retire. The remaining workers have more bargaining power. Businesses are going to need to rethink a lot of things about pay, about benefits, about workplace flexibility.
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Jackpocket Crowns its First $100K Winner in Massachusetts, Partnership With Circle K Offers a New, Convenient Way to Play the Lottery
BOSTON, July 31, 2023 /PRNewswire/ -- Jackpocket, America's #1 lottery app*, launched in Massachusetts in partnership with Circle K, one of the largest convenience store brands in the United States.
Yesterday, a Jackpocket customer ordered a $100,000 winning lottery ticket for the daily "Mass Cash" drawing using the app.
"We are excited that our partnership with Circle K landed our first $100K winner in the Bay State, cementing Jackpocket's presence in Massachusetts," said Peter Sullivan, CEO of Jackpocket. "Jackpocket's mission is to make the lottery more accessible and convenient to play. As Tuesday's Mega Millions crosses the $1 billion mark, it's easier than ever to play your favorite games from anywhere in Massachusetts."
To celebrate the new partnership, Jackpocket is offering lottery fans across the state their first lottery ticket for free on the app. New players will receive a $2 lottery ticket by entering the code HEYMASS at checkout. Lottery fans can play Powerball and Mega Millions—currently over $1.05B—as well as local favorites MassCash (the game responsible for the $100K winning ticket), Megabucks Doubler, Lucky for Life, and The Numbers Game.
"We're proud to partner with Jackpocket in Massachusetts and make this fun and convenient experience available to every lottery player across the state," said Melissa Lessard, the head of North American marketing at Circle K. "At Circle K, we are always looking for ways to make life a little easier for our customers and providing the opportunity for customers to order official state lottery tickets with just the tap of a button through the Jackpocket app is yet another example of that commitment."
Massachusetts is now the 17th state available for lottery play on the Jackpocket app. Jackpocket is iCAP certified for best practices in player protection, backed by the expertise of the National Council on Problem Gambling. To ensure player safety, Jackpocket offers consumer protections such as daily deposit and spend limits, self-exclusion, and in-app access to responsible gambling resources.
*According to data from AppFollow
*Must be 18 or older to play. Jackpocket is not affiliated with and is not an agent of the Massachusetts State Lottery. Please visit jackpocket.com/tos for full terms of service. Gambling Problem? Call 1-800-327-5050.
Are You Our Next BIG Winner? Visit play.jackpocket.com or download Jackpocket for iOS and Android and get in the game. New players can receive a $2 lottery ticket by entering the code HEYMASS at checkout.
About Jackpocket
Jackpocket is on a mission to create a more convenient, fun, and responsible way to take part in the lottery. The first licensed third-party lottery courier app in the United States, Jackpocket provides an easy, secure way to order official state lottery tickets. Jackpocket is currently available in Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Texas, Washington D.C., and West Virginia, and is expanding to many new markets. Download the app on iOS and Android or participate via desktop. Follow along on Facebook, Twitter and Instagram.
About Circle K and Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 25 countries and territories, with more than 14,400 stores, of which approximately 11,000 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong Special Administrative Region of the People's Republic of China. Approximately 128,000 people are employed throughout its network.
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DENVER, July 31, 2023 /PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR) today announced that it was selected by the Defense Information Systems Agency (DISA) to support coordination between federal and commercial licensees of the 3450 - 3550 MHz spectrum band. Palantir will provide its software platform to enable end-to-end automation that will enhance coordination between the Department of Defense and commercial spectrum licensees for shared use of the 3450-3550 MHz band within cooperative planning area (CPA) and periodic use area (PUA) coordination zone boundaries.
As part of an ongoing interagency effort to facilitate the shared usage of critically important mid-band spectrum, Palantir's software will enable DISA's Defense Spectrum Organization (DSO) to support formal and informal coordination processes between the Department of Defense and commercial licensees. Existing and future government activities in the spectrum band are vital to protect national security and ensure military readiness.
Palantir software will be used to integrate multiple existing functions and capabilities into a single infrastructure that will result in more efficient workflows, reducing the timelines for licensee coordination with DoD to establish sharing agreements and enable deployment of 5G wireless services within CPA/PUA boundaries. Palantir software will also be used to demonstrate the ability to support more advanced spectrum sharing use cases.
"We are proud to partner with DISA DSO to support the complex task of sharing limited spectrum resources between federal and commercial users," said Akash Jain, President, Palantir USG. "We are excited to rapidly deploy software that will accelerate and automate coordination workflows and enable the increasingly dynamic and efficient use of spectrum."
"As military and commercial use of radio-frequency spectrum continues to grow, spectrum coordination will be increasingly necessary to preserve the effectiveness of critical national security capabilities while enabling U.S. commercial leadership in 5G and other critical technology areas. Palantir looks forward to working alongside the Department of Defense to deploy innovative software solutions that support advanced spectrum sharing workflows and processes," said Miriam Marwick, SVP, Emerging Technologies, Palantir USG.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Media Contact
Lisa Gordon
media@palantir.com
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PRISTINA, Kosovo (AP) — Kosovo’s journalists on Monday protested against the government’s decision to suspend a private television station’s operations.
Authorities made the move last week because they said there were irregularities concerning the registration of Klan Kosova’s business license that violated the country’s constitution.
Scores of journalists and members of civil society organizations gathered in downtown Pristina in front of the main government building to protest the suspension of the broadcaster’s operations.
The demonstrators said it was a “politically motivated” action taken by the government of Prime Minister Albin Kurti. It was the first closure of a media outlet since the end of Kosovo’s 1998-1999 war, they said, holding a banner that read “Democracy dies in darkness.”
Last week, Kosovo’s Ministry of Industry and Trade suspended Klan Kosova’s license, after the documentation of its business registration in neighboring North Macedonia showed that its owners had named Kosovo’s municipalities as if belonging to Serbia, “which is a violation of our constitution,” according to a statement released Monday.
The journalist accused the government’s decision as “an open and unprecedented war … against the media,” urging owners of Klan Kosova to continue its legal fight at the court.
Klan Kosova’s editor-in-chief, Gazmend, Syla called the suspension “unfair.”
“We consider this a kind of pressure to stop us doing of what we are doing,” he told The Associated Press, adding they would challenge the government’s decision in court.
Last month, Kosovo’s Agency of Business Registration found the alleged fault and decided to suspend the operations of the television station, a move supported last week by the ministry.
The station has said it had already fixed the problems as requested.
Klan Kosova was launched in 2009 to become the country’s biggest private television station.
The embassies of France, Germany, Italy, the United Kingdom and the United States, and the European Union in Kosovo, expressed “their deep concern” about the suspension of Klan Kosova’s business license considering it “a disproportionate decision that will have repercussions on media plurality in Kosovo.”
Kosovo is a former province in Serbia, which doesn’t recognize Pristina’s 2008 declaration of independence. Kosovo’s sovereignty is backed by the U.S. and most EU nations, but not by Russia and China.
Serbia pulled out of Kosovo in 1999 after NATO bombed the country to stop the onslaught against ethnic Albanian separatists. At least 10,000 civilians, most of them ethnic Albanians, were killed in the conflict.
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Llazar Semini reported from Tirana, Albania.
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A one-day sales event unlike any other invites customers to stock up on used books for just one cent per page.
BIRMINGHAM, Ala., July 31, 2023 /PRNewswire/ -- The busiest day of the year at 2nd & Charles is officially on the docket: Penny-A-Page, happening on Saturday, August 12, at all 2nd & Charles locations nationwide.
Where miles of books are surrounded by pure, boundless energy, customers can purchase up to five books for just one cent per page during 2nd & Charles' first-ever Penny-A-Page.
This unique and rare promotional event applies to all used books, giving customers the opportunity to fill their shelves with lengthy, expensive, and well-loved volumes – all for a fraction of the price. Yes, on a 250-page book, 2nd and Charles customers will pay just $2.50.
"Our loyal customers love it when we offer a discount on multiple books at the same time," says Eric Bishop, Senior Vice President at 2nd & Charles. "This is a 'can't miss' day! We are opening early at 9 a.m. to accommodate all our impassioned readers wanting to get a head start on their summer reading," he says.
Communities across the nation now have a remarkable opportunity to find their next stack of great books at an extraordinary price. Arrive early for the best selection! Come in, get lost, and find yourself at 2nd & Charles.
ABOUT 2ND & CHARLES
2nd & Charles is a unique retail concept specializing in an ever-changing inventory of new and used books, music, games, toys, collectibles, decor, accessories, and pop culture merchandise. Since its first store opened in Birmingham, AL, in 2010, 2nd & Charles has expanded to include more than 40 stores in 18 states—and counting.
A sister store to Books-A-Million, the nation's second largest book retailer, 2nd & Charles has established itself as a hip and fun-loving purveyor of passions catering to readers, gamers, and collectors of all ages. Through the store's buyback program, customers can sell their gently used merchandise in exchange for cash or store credit.
Click here to find your nearest 2nd & Charles store, and follow 2nd & Charles on Facebook, Instagram, and Twitter.
CONTACT
Olivia Anderson McDaniel
Vice President of Marketing, Omnichannel
205.909.3563
mcdanielo@booksamillion.com
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2025 Cruises and Cruisetours from Alaska's Leading Cruise Line
on Sale August 3
Family Favorite Caribbean Princess to Sail Alaska for First Time
SANTA CLARITA, Calif., July 31, 2023 /PRNewswire/ -- Princess Cruises has unveiled its 2025 Alaska cruise and cruisetours season, featuring three captivating roundtrip itineraries and an exclusive new National Parks Cruisetour. These remarkable offerings are available for booking starting August 3.
New Adventures and Extended Journeys Await, including a Departure from LA:
New for 2025 from the cruise line that brings the most guests to Alaska every year is a 22-day roundtrip voyage sailing from San Francisco on Ruby Princess that coincides with the Summer Solstice, and a 17-day roundtrip cruise from Seattle on Grand Princess featuring three days of scenic glacier viewing. For guests seeking to sail from Southern California, a new 16-day roundtrip Inside Passage voyage from Los Angeles on Grand Princess offers a convenient and affordable option.
National Parks Cruisetour
Following its debut in 2024, the National Parks Cruisetour returns in 2025 with a 15-night adventure to five of Alaska's most breathtaking parks. Guests will have the opportunity to explore Glacier Bay, Denali, Wrangell-St. Elias, Kenai Fjords National Parks, and Klondike Gold Rush National Historical Park in Skagway. Unique to Princess, this experience combines a seven-day Voyage of the Glaciers cruise, scenic rail travel, and multiple days on land, including stays at four Princess-owned wilderness lodges.
"As the market leader in Alaska, we're excited to offer guests even more exciting ways to see the natural beauty of Alaska with itineraries in 2025 that serve up new adventures and extended journeys that first-time guests and repeat visitors are going to find intriguing," said John Padgett, Princess Cruises president. "We're also making it easier for guests to access an Alaska cruise by bringing back a roundtrip option out of Los Angeles, which also make it more affordable for millions within that drive market."
Caribbean Princess to Debut in Alaska in 2025
In 2025, seven Princess ships will sail to Alaska, including Caribbean Princess for the first time. In addition, the number of Princess homeports offering Alaska voyages expands to five with the addition of Los Angeles, with the season featuring 21 cruise destinations and four glacier-viewing experiences, highlighted by 88 visits to Glacier Bay National Park, taking more guests to this spectacular national park than any other cruise line.
With 155 total departures on 18 unique itineraries ranging in length from 4 to 22 days, cruise and cruisetour choices include:
Cruises – Seven Ships, Five Homeports
- NEW! Ultimate Alaska Solstice with Glacier Bay National Park: 22-day roundtrip from San Francisco on Ruby Princess – departs June 6, 2025
- NEW! Ultimate Alaska with Glacier Bay National Park: 17-day roundtrip from Seattle on Grand Princess – departs May 6, 2025
- Inside Passage with Glacier Bay National Park: 16-day roundtrip from Los Angeles on Grand Princess visiting Juneau, Skagway, Glacier Bay National Park, Sitka, Icy Strait Point, Ketchikan and Victoria, B.C. – departs August 30, 2025
- Voyage of the Glaciers: This top-rated seven-day itinerary features Juneau, Skagway, Ketchikan, and two glacier-viewing experiences at Glacier Bay National Park and Hubbard Glacier or College Fjord. Caribbean Princess, Coral Princess, and Sapphire Princess offer weekly northbound and southbound cruises from Vancouver, B.C. to Anchorage (Whittier) and vice versa. Guests can combine select seven-day voyages for an amazing 14-day Voyage of the Glaciers Grand Adventure – operates May 10 to September 13, 2025.
- Inside Passage: Princess' signature seven-day roundtrip sailings from Seattle and Vancouver, B.C., as well as 11-day roundtrip departures from San Francisco and Vancouver that include four ports of call and a day of glacier viewing. Many Inside Passage cruises include Glacier Bay National Park. Discovery Princess and Royal Princess sail from Seattle weekly, May 4 – September 21, 2025. Grand Princess offers weekly cruises from Vancouver, B.C., May 27 – August 19, 2025. Ruby Princess sails 11-day cruises roundtrip from San Francisco May 4 – September 13, 2025.
- Alaska Samplers: Three itineraries of four to five days offer shorter voyages for guests looking for a quick getaway. Discovery Princess, Royal Princess and Grand Princess operate four-day, roundtrip voyages between Vancouver, B.C. to Seattle with a stop in Ketchikan – departing April 30, May 13 and May 23, 2025. Caribbean Princess sails a four-day, roundtrip cruise from Vancouver, B.C., with a visit to Ketchikan departing September 13, 2025, and a five-day roundtrip cruise from Vancouver, B.C., with stops in Sitka and Ketchikan sailing May 5, 2025.
Cruisetours
- More than 26 cruisetour options give guests variety of choice with four styles of travel including Denali Explorer tours, On Your Own options, Connoisseur Deluxe Escorted and Off the Beaten Path.
- The exclusive Direct-to-the-Wilderness rail service ensures a seamless transition between the ship in Whittier and the Denali area on the same day.
Award-Winning North to Alaska Program
Princess' award-winning North to Alaska program enriches the onboard and onshore experience with local lumberjacks, Iditarod champions, and storytellers sharing their Alaska experiences and insights. Other offerings include Wild for Alaska seafood menus, a variety of shore excursions, Puppies in the Piazza to meet sled-dog puppies, Junior Ranger program for youth, and authentic commentary by Glacier Bay Park Rangers and Naturalists.
Visit www.princess.com/alaska for more details on the 2025 Alaska cruises and cruisetours season from Princess Cruises.
Additional information about Princess Cruises is available through a professional travel advisor, by calling 1-800-Princess (1-800-774-6237) or by visiting www.princess.com.
About Princess Cruises
Princess Cruises is The Love Boat, the world's most iconic cruise brand that delivers dream vacations to millions of guests every year in the most sought-after destinations on the largest ships that offer elite service personalization and simplicity customary of small, yacht-class ships. Well-appointed staterooms, world class dining, grand performances, award-winning casinos and entertainment, luxurious spas, imaginative experiences and boundless activities blend with exclusive Princess MedallionClass service to create meaningful connections and unforgettable moments in the most incredible settings in the world - the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica, and World Cruises. The company is part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK).
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DETROIT (AP) — Major changes in Michigan’s car insurance system don’t apply to people who were catastrophically injured before a 2019 law kicked in, the state Supreme Court said Monday in a decision that delivers critical relief to thousands of people counting on long-term benefits.
But the 5-2 opinion didn’t come soon enough for Brian Woodward, who was paralyzed in the 1980s and had frequently talked about the law’s drastic impact on his care. He died Monday at age 64, his family said.
For decades, crash survivors were entitled to lifetime payment for “all reasonable charges” related to care and rehabilitation. But a new state law set a fee schedule and a cap on reimbursements. Suddenly, 18,000 people already receiving benefits were forced to scramble as some health providers dropped out.
The Supreme Court, however, said a “vested contractual right” to ongoing benefits “cannot be stripped away or diminished,” especially when lawmakers failed to declare an intent to do so when they changed the law.
The decision was written by Justice Elizabeth Welch, a Democrat, and joined by other Democratic justices and by Chief Justice Elizabeth Clement, a Republican.
In an effort to lower Michigan’s insurance rates, which were among the highest in the U.S., the Republican-controlled Legislature and Democratic Gov. Gretchen Whitmer agreed to sweeping changes in 2019. Drivers can save money by choosing certain injury-coverage options. But payments for certain care were also slashed.
The catastrophically injured include hockey star Vladimir Konstantinov, a former member of the Detroit Red Wings, who requires 24/7 care. He suffered severe brain damage in 1997 when a drunken limousine driver crashed the car he was traveling in, following the team’s NHL championship.
Woodward suffered devastating spinal injuries in a crash but was able to get in-home care and even hold a job through insurance. When the law changed, and care rates were reduced, he said he lost caregivers and was shuttled from facility to facility.
“I’m dying,” Woodward told The Detroit News last week. “My body is breaking down because I’m not getting enough exercise.”
Tim Hoste, president of CPAN, a coalition of medical organizations and consumer groups, said the law led to the “spiritual, emotional and physical decline of many people, including Brian.”
An industry trade group, the Insurance Alliance of Michigan, said the Supreme Court decision will open the door to overcharging for medical care. The lower reimbursement schedule, however, remains intact for injuries since the law was overhauled.
In a dissent, Justice David Viviano said the Supreme Court majority crafted an opinion based on “vague and disputed concepts” to provide cover for those who simply believe it would be unfair to reduce future benefits for the long-term injured.
“As a result, the efforts of the Legislature and the governor to reduce costs and make insurance more affordable for all the residents of our state will not come to fruition for many decades,” said Viviano, who was joined by fellow Republican Justice Brian Zahra.
“If courts cannot be trusted to faithfully interpret and apply the laws, especially those involving such significant and contested topics, then the democratic process is in peril,” Viviano said.
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Follow Ed White at http://twitter.com/edwritez
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DENVER, July 31, 2023 /PRNewswire/ -- The Principal Real Estate Income Fund (NYSE:PGZ) announces the sources of a distribution paid on July 31, 2023 of $0.1050 per share to shareholders of record at the close of business on July 18, 2023, pursuant to the Fund's managed distribution plan. This press release is issued as required by an exemptive order granted to the Fund by the U.S. Securities and Exchange Commission and includes the notice below sent to shareholders regarding the source of the distribution.
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ("GAAP"), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
The Fund estimates that it has distributed more than its income; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations, which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2023 federal income tax return. The final tax character of any distribution declared in 2023 will be determined in January 2024 and reported to you on IRS Form 1099-DIV.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
Please retain this document for your records.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment sub-adviser to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member.
PRE000386 7/31/2024
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BISMARCK, N.D. (AP) — Two pipeline operators have agreed to pay a $12.5 million civil penalty related to crude oil spills in Montana and North Dakota.
The U.S. Environmental Protection Agency on Monday announced the settlement in a 2022 federal court lawsuit. Belle Fourche Pipeline Company and Bridger Pipeline LLC will pay the $12.5 million to resolve the claims made under the Clean Water Act and Pipeline Safety Laws, EPA said. The affiliated companies own and operate oil pipelines in Montana, North Dakota and Wyoming.
In 2015, Bridger’s Poplar Pipeline broke and spilled more than 50,000 gallons (about 190,000 liters) of crude into the Yellowstone River near Glendive, Montana. Bridger has completed cleanup of the site, and in 2021 settled a lawsuit with federal and Montana authorities for $2 million.
In 2016, Belle Fourche’s Bicentennial Pipeline in Billings County, North Dakota, broke due to a landslide and spilled over 600,000 gallons (about 2.3 million liters) of oil, impacting an unnamed tributary, Ash Coulee Creek and the Little Missouri River. Belle Fourche’s cleanup is ongoing with oversight from North Dakota’s Department of Environmental Quality, according to EPA.
Belle Fourche also will pay the state’s past response costs, totaling over $98,000, according to court documents filed Monday.
“Oil pipeline spills can cause enormous and long-lasting damage to the environment,” Principal Deputy Assistant Administrator Larry Starfield of EPA’s Office of Enforcement and Compliance Assurance said in a statement. “This settlement holds Belle Fourche and Bridger Pipeline accountable for their significant oil spills and requires them to take meaningful measures to prevent future spills from their oil pipelines.”
The operators also are required to implement specified compliance measures, in addition to the civil penalty.
Belle Fourche and Bridger are owned by Wyoming-based True Companies, whose spokesman, when reached by email, did not have an immediate comment on the agreement.
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Animal Shelters, Rescue Groups, and Happy Adopters, Nationally and Internationally, Encouraged to Celebrate the Role Adopted Dogs Play in Our Lives
PORT WASHINGTON, N.Y., July 31, 2023 /PRNewswire/ -- Tuesday, August 1st is DOGust 1ST ®– the official birthday for all rescue dogs – and North Shore Animal League America is encouraging animal lovers around the country and globe to join them in celebrating the incredible meaning our adopted animals add to our lives.
Since the actual dates of birth for most rescued dogs are unknown, Animal League America created DOGust 1st to celebrate rescue dogs (those adopted and those awaiting loving homes.) Since 2008, these "Mutt-i-grees" have had this day designated to honor the incredible impact they make on our lives.
"This is a wonderful opportunity to celebrate rescue dogs and the invaluable role they play in our lives, while raising awareness about the importance of rescue and adoption," said Joanne Yohannan, Senior Vice President, Operations, North Shore Animal League America.
In honor of DOGust 1st, North Shore Animal League America, and many of their shelter partners across the country, will be participating in DOGust 1st festivities throughout the week (August 1 – 7.) By encouraging adoption specials, birthday themed activities, and local media opportunities, even more rescue dogs are expected to find loving, responsible homes.
To find an adoptable pet at a shelter or rescue group in your area go to www.animalleague.org.
To find a participating DOGust 1st group near you visit www.animalleague.org/dogust1st.
For video highlights of DOGust 1st, visit: DOGUST 1ST ASSETS
Photo & Video Credit: North Shore Animal League America
MEDIA CONTACT:
KATHLEEN LYNN
Senior Director of Communications
Cell: (516) 528-7878
Email: KathleenL@animalleague.org
#DOGust1st #GetYourRescueOn
About NORTH SHORE ANIMAL LEAGUE AMERICA
Animal League America has saved more than 1.1 million lives. As the world's largest no-kill rescue and adoption organization, we understand that a rescue isn't complete until each animal is placed into a loving home. Our innovative programs provide education to reduce animal cruelty and advance standards in animal welfare. We reach across the country to rescue animals from overcrowded shelters, unwanted litters, commercial breeding facilities, natural disasters and other emergencies and find them permanent, loving homes. www.animalleague.org
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WALTHAM — It’s easy to be cynical about “Disney’s The Little Mermaid,” whose transparent goal to cash in on the popularity of the 1989 animated gem is right there in the cumbersome corporate branding of the stage musical’s title.
But it’s hard to maintain that cynicism — at least in the moment — when a theater is vibrating with enthusiasm the way Reagle Music Theatre of Greater Boston was last Friday night, largely generated by the younger audience members at whom the musical is aimed.
The bravura direction and whirling choreography of Taavon Gamble — whose choreographic contributions to SpeakEasy Stage’s Company’s May production of “The Prom” were central to its success — help to obscure the shortcomings of “The Little Mermaid.”
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When the stage adaptation was created for Broadway in 2008, it was padded with songs that are a notch or two below the perfection of “Part of Your World,” “Under the Sea,” “Poor Unfortunate Souls,” and “Kiss the Girl” (all of which, thankfully, are in the stage version). Alan Menken (music) and Howard Ashman (lyrics) collaborated on the songs for the animated movie. Just two years later, in 1991, the brilliant Ashman died, a huge loss for musical theater. Glenn Slater wrote lyrics for the stage adaptation, while Menken composed the music.
What underlies “The Little Mermaid” is the twinned concept of what it costs to lose your voice and what it takes to find your voice, figuratively and, in this case, literally.
Ariel (Kayla Shimizu), a young mermaid, dreams of exploring life on land, and thereby gaining the independence she lacks as the youngest child (out of seven) of the trident-wielding King Triton (Cristhian Mancinas-Garcia). Of the ocean, she says: “I’ve never felt at home here.”
Her landward aspirations are intensified when she rescues, and is smitten by, the handsome Prince Eric (Ray Robinson) after he falls overboard from his ship. That sets in motion an encounter with the evil and opportunistic sea witch Ursula (Katherine Pecevich), who lures her into a Faustian pact: If Ariel surrenders her voice, Ursula will transform her into a human being for three days. If Eric kisses Ariel, she gets to stay human for good; if not, Ariel is transformed back into a mermaid and is eternally in Ursula’s thrall.
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There are two impressive things about Shimizu’s portrayal of Ariel. The first is the performance itself: She creates an Ariel who’s a complex mixture of yearning, defiance, innocence, and resolve. Shimizu utterly nails “Part of Your World,” one of the best “I want” songs ever written.
The second is the fact that it was only a few weeks ago that Shimizu finished playing Laurey the farm girl in Reagle’s knockout production of “Oklahoma!,” helmed by artistic director Rachel Bertone. To take on two demanding — and quite different — lead roles in a pair of big musicals back to back must have been a pressure-cooker of a challenge, but Shimizu has pulled it off.
As Prince Eric, Robinson is unable to transcend the character’s built-in blandness; he needs to project more personality. Much the same is true of Mancinas-Garcia, whose King Triton could also use more autocratic force.
Pecevich’s Ursula is an enjoyably hiss-worthy villain, one who demonstrates a lip-smacking enjoyment of her own depravity in “Poor Unfortunate Souls.” As Ursula’s henchmen, Flotsam and Jetsam, Miki Grubic and Alan Cid ooze a creepy, slithery menace. Jack Mullen is reliably amusing as Scuttle the Seagull, an avian know-it-all who is — like Cliff on “Cheers” — often in error, never in doubt.
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But the most dynamic performer onstage, as is often the case when he’s in a show, is Davron S. Monroe. Clad in a red spangled outfit, Monroe plays the fretful Sebastian the Crab, an adviser to King Triton whom the king saddles with the responsibility of monitoring the restless Ariel. Monroe brings an electric energy to “Under the Sea,” making it a rousing and joyous anthem for the very place Ariel wants so badly to escape, while his rendition of “Kiss the Girl” registers as a hymn-like celebration of romance, with a bubble-like delicacy.
The costume design (by Emerald City Theatrical) is a riot of blues, greens, pinks, yellows, and oranges, while the efficient set (original design is by Tony Ferrieri) enables smooth transitions between scenes. The orchestra (music direction is by David Coleman, with Jeff Leonard conducting) performs with verve, including an overture (a relative rarity in musicals these days) and an entr’acte.
Due to strong attendance, a couple of matinees — including one Saturday — were added to the original performance schedule of “The Little Mermaid.” The run ends on Sunday. After that, here’s hoping Shimizu gets a little rest. She’s earned it.
DISNEY’S THE LITTLE MERMAID
Music by Alan Menken. Lyrics by Howard Ashman and Glenn Slater. Book by Doug Wright. Directed and choreographed by Taavon Gamble. Musical direction by David Coleman. Reagle Music Theatre of Greater Boston, Waltham. Through Aug. 6. $25-$68. 781-891-5600, www.reaglemusictheatre.org/tickets
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Don Aucoin can be reached at donald.aucoin@globe.com. Follow him @GlobeAucoin.
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'Home Improvement' star Zachery Ty Bryan arrested again on domestic violence charges
Zachery Ty Bryan, who starred as Brad Taylor on 'Home Improvement,' previously pleaded guilty to domestic violence charges in 2020
Zachery Ty Bryan has been charged with domestic violence for a second time.
Bryan was arrested July 28 after authorities in Eugene, Oregon, were called regarding a physical domestic dispute between a male and female that had occurred earlier in the day, Fox News Digital can confirm. It's unclear who the female was, but the male was identified as Bryan.
He remained in jail as of Monday afternoon after being charged with assault in the fourth-degree.
A representative for Bryan did not immediately respond to Fox News Digital's request for comment.
BRITNEY SPEARS, LINDSAY LOHAN, ZACHERY TY BRYAN: CHILD STARS WHO WENT FROM HOLLYWOOD TO HANDCUFFS
The former "Home Improvement" star was previously arrested in 2020 for an altercation with his girlfriend Johnnie Faye Cartwright.
Bryan downplayed the domestic violence charges he pleaded guilty to in 2021 during a recent interview, saying the incident was "blown out of proportion."
"We didn’t even really get that physical. We got really loud. We were screaming and because we were in a townhome that had [thin walls], everybody could hear," Bryan told The Hollywood Reporter. "Johnnie was, at the time, just really upset about my situation."
"At the end of the day, [the police] throw a bunch of counts at you because they ultimately want you to plead to something. I could’ve fought it… but that’s more stress and drama. I got two misdemeanors and called it a day," he said.
Police said at the time that Bryan "assaulted the victim, impeded her breathing, and [took] the victim's phone from her when she tried to call 911," according to "E! News." Bryan claimed in the police report at the time, obtained by The Hollywood Reporter, that Cartwright attacked him and that she was setting him up to "ruin his career."
"I heard her tell dispatch, ‘This is the guy from ‘Home Improvement.' He’s this famous guy,'" Bryan claimed to officers at the time.
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He was originally charged with felony strangulation, fourth-degree assault, coercion, menacing, harassment and interference with making a police report. Police dropped the charges besides menacing and fourth-degree assault, and Bryan chose to plead guilty.
Cartwright and Bryan are still together as of June, according to the outlet. The two have welcomed three kids in the years since the 2020 arrest.
The couple first began seeing each other while Bryan was married to Carly Matros.
Bryan has also struggled with driving under the influence (DUI). The TV star was first arrested for DUI in 2004 at the age of 22. He was booked again in 2007, 2017 and 2020 – just months before the domestic assault occurred.
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The Fitness Superstore to Exclusively Carry the REP Line
DENVER, July 31, 2023 /PRNewswire/ -- Home and commercial gyms in the United Kingdom and Ireland are about to level up.
One of the USA's top gym equipment brands has joined forces with the UK's largest speciality fitness retailer. Starting this summer, Bodypower Sports Ltd. (trading as Fitness Superstore) will carry a large range of REP Fitness equipment. This expansion was in response to a growing demand overseas, after REP took the US by storm. It kicks off the launch of REP products throughout all of Europe, so more people can have access to REP's versatile, quality, innovative equipment.
REP, founded a decade ago in Colorado by two gym-loving brothers, has risen to become America's most popular brand in the home gym market. It offers a full line of gym gear, all designed by in-house, weightlifting engineers for both commercial and home gyms.
REP's award-winning power racks, benches, functional training gyms, and more will soon be available for UK customers to try out and order in Fitness Superstore showrooms across the UK (11 stores). Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Fitness Superstore will also carry REP on its website, to be delivered throughout the UK and Ireland.
"Fitness Superstore is proud to exclusively represent this fantastic and innovative brand in the UK," says Paul Walker, Fitness Superstore managing director and owner.
Ryan McGrotty, co-founder or REP, echoes that. He says Fitness Superstore and REP make a great partnership because both are staffed by real-life fitness enthusiasts and professionals; they both offer a full range of equipment, and they both value creating community and making fitness accessible to all.
"We're excited to be working with such a strong partner in the UK with Fitness Superstore. We know they will offer a great shopping experience for all our fans in the UK who have been eagerly awaiting the availability of our products," says McGrotty. "Their broad store footprint will make it convenient for everyone to easily see and test our products before taking them home.
ABOUT REP
REP Fitness designs and sells world-class, innovative strength equipment that is sold around the world. REP was founded in Colorado in 2012 by two brothers with a shared passion for fitness and has grown into more than 300,000 square feet of office and distribution space and a team of more than 150 dedicated fitness enthusiasts. That shared passion for fitness is what drives REP's innovative spirit, where creating class-leading fitness equipment, with an emphasis on incredible home gyms, is paramount.
REP has been listed twice on the Inc. 5,000 fastest-growing companies — in 2018 and in 2021. REP products are frequently listed as top choices in many fitness publications, such as Men's Health.
For more information, visit repfitness.com. Connect with REP on Instagram, YouTube, Facebook, TikTok, and LinkedIn.
ABOUT FITNESS SUPERSTORE
Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Learn more at fitness-superstore.co.uk. You can also connect with Fitness Superstore on Facebook, Instagram, YouTube, and TikTok.
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SOURCE Rep Fitness
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ATLANTA — The first new US nuclear reactor to be built from scratch in decades is sending electricity reliably to the grid, but the cost of the Georgia power plant could make it a dead end instead of a path to a carbon-free future.
Georgia Power Company announced Monday that Unit 3 at Plant Vogtle, southeast of Augusta, has completed testing and is now in commercial operation, seven years late and $17 billion over budget.
At its full output of 1,100 megawatts of electricity, Unit 3 can power 500,000 homes and businesses. A number of other utilities in Georgia, Florida, and Alabama are receiving the electricity, in addition to the 2.7 million customers of Southern Company subsidiary Georgia Power.
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“This hadn’t been done in this country from start to finish in some 30-plus years,” Chris Womack, CEO of Atlanta-based Southern Company said Monday in a telephone interview. “So to do this, to get this done, to get this done right, is a wonderful accomplishment for our company, for the state, and for the customers here in Georgia.”
A fourth reactor is also nearing completion at the site, where two earlier reactors have been generating electricity for decades. The Nuclear Regulatory Commission on Friday said radioactive fuel could be loaded into Unit 4, a step expected to take place before the end of September. Unit 4 is scheduled to enter commercial operation by March.
The third and fourth reactors were originally supposed to cost $14 billion, but are now on track to cost their owners $31 billion. That doesn’t include $3.7 billion that original contractor Westinghouse paid to the owners to walk away from the project. That brings total spending to almost $35 billion.
The third reactor was supposed to start generating power in 2016 when construction began in 2009.
Vogtle is important because government officials and some utilities are again looking to nuclear power to alleviate climate change by generating electricity without burning natural gas, coal, and oil. But most focus in the US currently is on smaller nuclear reactors, which advocates hope can be built without the cost and schedule overruns that have plagued Vogtle. For its part, Womack said Southern Company isn’t looking to add any more reactors to its fleet.
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“In terms of us making additional investments, at this time is not something that we’re going to do, but I do think others in this country should move in that direction,” Womack said.
In Georgia, almost every electric customer will pay for Vogtle. Georgia Power currently owns 45.7 percent of the reactors. Smaller shares are owned by Oglethorpe Power Corporation, which provides electricity to member-owned cooperatives, the Municipal Electric Authority of Georgia, and the city of Dalton. Oglethorpe and MEAG plan to sell power to cooperatives and municipal utilities across Georgia, as well in Jacksonville, Florida, and parts of Alabama and the Florida Panhandle.
Georgia Power’s residential customers are projected to pay more than $926 apiece as part of an ongoing finance charge and elected public service commissioners have approved a rate increase. Residential customers will pay $4 more per month as soon as the third unit begins generating power. That could hit bills in August, two months after residential customers saw a $16-a-month increase to pay for higher fuel costs.
The high construction costs have wiped out any future benefit from low nuclear fuel costs in the future, experts have repeatedly testified before commissioners.
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“The cost increases and schedule delays have completely eliminated any benefit on a life-cycle cost basis,” Tom J. Newsome, director of utility finance for the commission, testified Thursday in a Georgia Public Service Commission hearing examining spending.
The utility will face a fight from longtime opponents of the plant, many of whom note that power generated from solar and wind would be cheaper. They say letting Georgia Power make ratepayers pay for mistakes will unfairly bolster the utility’s profits.
“While capital-intensive and expensive projects may benefit Georgia Power’s shareholders who have enjoyed record profits throughout Vogtle’s beleaguered construction, they are not the least-cost option for Georgians who are feeling the sting of repeated bill increases,” Southern Environmental Law Center staff attorney Bob Sherrier said in a statement.
Commissioners will decide later who pays for the remainder of the costs of Vogtle, including the fourth reactor. Customers will pay for the share of spending that commissioners determine was prudent, while the company and its shareholders will have to pay for spending commissioners decide was wasteful.
Georgia Power CEO Kim Greene said the company hasn’t decided how much it will ask customers to pay.
“That will be determined as we move closer and closer to our prudence filing, but we have not made a final determination,” Greene said.
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Florida university fires professor over dubious racial bias studies, damage to school may be ‘catastrophic’
FSU's provost said the incident could have 'unalterable' consequences for the school
A Florida university has fired a professor after an investigation concluded he "demonstrated extreme negligence" in the data management of racial bias studies that could cause "unalterable" damage to the school's reputation.
In a scathing five-page termination letter penned by Florida State University's (FUS) Provost and Executive Vice President for Academic Affairs, James Clark informed criminologist Eric Stewart that decades of his research "once thought to be at the forefront" of the profession were shown to contain "numerous erroneous and "false narratives."
"My specific concerns are related to the details of your behavior and the extreme negligence and incompetence that you demonstrated in the performance of your duties," Clark wrote.
"As outlined in the Notice of Intent to Terminate letter, you demonstrated extreme negligence in basic data management, resulting in an unprecedented number of articles retracted, numerous other articles now in question, with the presence of no backup of the data for the publications in question," he added.
As reported by The College Fix and corroborated by the letter, Stewart had previously refuted the evidence of FSU's misconduct inquiry committee's lengthy investigation and stated the reports "indicate that the misconduct claims were rejected by multiple panel experts."
However, Clark's termination letter to Stewart suggested the criminologist did not take "any meaningful steps" to remedy the situation in the four years since the issues came to light and did not attempt to re-create any of the studies.
"You have not pursued any remedial action, and you have even refused to cooperate with your FSU colleagues and coworkers who requested to work with you on these matters," the letter continued.
PROFESSOR SUES NOTRE DAME NEWSPAPER FOR DEFAMATION IN REPORTING ON HER ABORTION ADVOCACY
He had been at the school for 16 years at the time of his departure.
Stewart left his post in March following the lengthy investigation that began when six race-related studies he co-authored were retracted.
In one paper, Stewart, who made $190,000 per year at FSU, falsely claimed there was a correlation between a criminal's race and the public's desire to see harsher prison sentences for said criminal. However, an investigation revealed no correlation and that the sample size had been increased to yield Stewart's desired outcome.
Justin Pickett, one of the study's co-authors, previously claimed that the "identified discrepancies" in Stewart's work could not be attributed to "researcher error."
"Scientific fraud occurs all too frequently….and I believe it is the most likely explanation for the data irregularities in the five retracted articles," Pickett said.
Fox News Digital reached out to Stewart, but his email sent an automated response saying he was "currently unavailable." FSU did not immediately return request for comment.
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Fox News' Joe Silverstein contributed to this report.
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NEW YORK (AP) — Wall Street closed out its latest winning month with another tick higher on Monday.
The S&P 500 added 6.73 points, or 0.1%, to 4,588.96 to cap its fifth straight month of gains. That’s its longest winning streak in nearly two years, and the index is at a 16-month high after rallying on hopes cooling inflation will mean the economy can avoid a long-predicted recession.
The Dow Jones Industrial Average climbed 100.24, or 0.3%, to 35,559.53, and the Nasdaq composite rose 29.37, or 0.2%, to 13,346.02.
To be sure, critics have been saying Wall Street’s seemingly growing consensus for a soft landing for the economy has come too quickly. Several reports this upcoming week could poke holes in the theory that inflation will keep coming down enough for the Federal Reserve to not only stop hiking interest rates but to begin cutting them by early next year.
Big names in the market, such as Rob Arnott at Research Affiliates, are warning not to be “overly hasty in popping the champagne corks.” Arnott sees the possibility of inflation rebounding again later this year, even though it’s cooled considerably recently.
Fed Chair Jerome Powell himself has pointed to Friday’s upcoming report on the overall U.S. job market as an important datapoint. Growth needs to be strong enough to keep a lid on worries about a possible recession. But a reading that’s too hot could also mean upward pressure on inflation, which could push the Fed to get more aggressive about rates.
High rates undercut inflation by slowing the overall economy and dragging on prices for stocks and other investments. The Fed has already hiked its main rate to its highest level in more than two decades, a jolting shock after the rate began last year at virtually zero.
Two of Wall Street’s most influential stocks are also set to report their earnings for the spring. Amazon and Apple are both scheduled to release their latest quarterly results on Thursday. Because they’re two of the most massive stocks on Wall Street, their stock movements pack much more punch for the S&P 500 and other indexes than other stocks.
Both stocks have soared this year, in part on expectations for strong continued growth, and they’ll need to deliver to justify the big moves. Both Apple and Amazon are up more than 50% so far this year.
Roughly halfway through the earnings reporting season, more companies than usual have topped analysts’ profit expectations, according to FactSet. Companies also seem to be more optimistic about their upcoming results, giving better-than-expected forecasts more often than usual, according to strategists at Bank of America.
“While economic uncertainty remains, we believe the profit cycle is inflecting higher,” the strategists wrote in a BofA Global Research report.
ON Semiconductor rose 2.5% for one of the larger gains in the S&P 500 after reporting stronger profit for the latest quarter than expected. The company, known as onsemi, also gave a forecast for profit in the current quarter that topped analysts’ expectations.
On the losing end was Tempur Sealy International. The mattress company said it discovered a cybersecurity event last week, which pushed it to shut down some of its technology systems. It has resumed operations after what it called a temporary interruption and is working to determine the incident’s full impact. Its stock fell 3%.
In stock markets abroad, indexes in Europe were mixed after data showed Europe’s economy has grown modestly after months of stagnation.
In Asia, stocks rose in Hong Kong and Shanghai amid hopes Beijing will deliver more stimulus for the sluggish Chinese economy.
In the bond market, U.S. Treasury yields slipped after a report suggested manufacturing in the Chicago region is weakening a bit more than economists expected. Manufacturing has been one of the hardest-hit areas in the economy by high interest rates, which work with a notoriously long lag effect.
The yield on the 10-year Treasury edged down to 3.95% from 3.96% late Friday.
___
AP Business Writers Matt Ott, Elaine Kurtenbach and Joe McDonald contributed.
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Kentucky education commissioner leaves for Western Michigan University job
Jason Glass had been looking to leave KY for several months
Kentucky's education commissioner is leaving to take a job at a university in Michigan.
POPULAR DEMOCRAT GOVERNOR BREAKS WITH PARTY, SPEAKS OUT AGAINST SEX CHANGE SURGERIES FOR MINORS
Commissioner of Education Jason Glass said Monday that he will step down on Sept. 29 to become an associate vice president of teaching and learning at Western Michigan University. Glass was appointed to the state education department's top job in 2020.
Glass arrived in the job six months into the COVID-19 pandemic "and made swift and strategic responses to ensure that learning continued and that the health and well-being of students and educators remained a top priority," a media release from the Department of Education said.
KENTUCKY SUPERINTENDENT JAILED ON CHARGES RELATED TO SEXUAL SOLICITATION OF MINORS
Glass, who served under Democratic Gov. Andy Beshear, was repeatedly criticized by Republican lawmakers and GOP gubernatorial candidates for his support for inclusive LGBTQ policies in schools. Glass had been looking for a new job out of the state since at least May.
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Glass thanked the state at the Department of Education and said he has "a heart full of gratitude."
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NEW YORK — Troubled trucking company Yellow Corp. is shutting down and headed for bankruptcy, the Teamsters said Monday.
An official bankruptcy filing is expected any day from Yellow, after years of financial struggles and growing debt. Its expected liquidation would mark a significant shift for the US transportation industry and shippers nationwide.
“Today’s news is unfortunate but not surprising. Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government,” said Teamsters General President Sean M. O’Brien. “This is a sad day for workers and the American freight industry.”
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Yellow did not have a comment when reached by the Associated Press on Monday. As of Monday afternoon, no bankruptcy filings from the company could be found on the Securities and Exchange Commission’s website, but the union confirmed that it had been served legal notice.
The company’s collapse arrives just three years after Yellow, formerly known as YRC Worldwide Inc., received $700 million in pandemic-era loans from the federal government. But the company was in financial trouble long before that — with industry analysts pointing to poor management and strategic decisions dating back decades.
Former Yellow customers and shippers will face higher prices as they take their business to competitors, including FedEx or ABF Freight, experts say — noting that Yellow historically offered the cheapest price points in the industry.
Yellow is one of the nation’s largest less-than-truckload carriers. The closure of the 99-year-old Nashville, Tenn.-based company risks a loss of 30,000 jobs.
Safety vests that appeared to belong to former Yellow workers were zip-tied to the fence of a closed YRC Freight terminal in St. Louis, Mo., on Monday. Names and years worked at the company were written on them.
“Ron Fisher 2017-2023 was here,” one vest read.
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Reports of Yellow preparing for bankruptcy emerged last week — as the company saw customers leave in large numbers, per The Wall Street Journal and FreightWaves. And the company reportedly stopped freight pickups earlier in the week.
Yellow shut down operations on Sunday, according to the Journal, following the layoffs of hundreds of nonunion employees on Friday.
The bankruptcy preparation reports arrived just days after Yellow averted a strike from the Teamsters, which represents Yellow’s 22,000 unionized workers, amid heated contract negotiations. On July 23, a pension fund agreed to extend health benefits for workers at two Yellow Corp. operating companies, avoiding a planned walkout. The fund gave Yellow “30 days to pay its bills,” notably $50 million that Yellow failed to pay the Central States Health and Welfare Fund earlier in the month.
Yellow has racked up hefty bills over the years. As of late March, Yellow had an outstanding debt of about $1.5 billion. Of that, $729.2 million was owed to the federal government.
In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. Last month, a congressional probe concluded that the Treasury and Defense departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan, and continued struggles, expose taxpayers to a significant risk of loss.”
The government loan is due in September 2024. As of March, Yellow had made $54.8 million in interest payments and repaid just $230 million of the principal owed, according to government documents.
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The current financial chaos at Yellow “is probably two decades in the making,” said Stifel research director Bruce Chan, pointing to poor management and strategic decisions dating back to the early 2000s. “At this point, after each party has bailed them out so many times, there is a limited appetite to do that anymore.”
A Wednesday investors note from financial service firm Stephens estimated that Yellow was burning daily amounts of $9 million to $10 million in recent days.
Yellow handled an average of 49,000 shipments per day in 2022 according to Satish Jindel, president of transportation and logistics firm SJ Consulting. On Friday, he estimated that number was down to between 10,000 and 15,000 daily shipments.
Yellow’s prices have historically been the cheapest compared with other carriers, Jindel said. “That’s why they obviously were not making money,” he added. “And while there is capacity with the other LTL carriers to handle the diversions from Yellow, it will come at a high price for (current shippers and customers) of Yellow.”
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MENLO PARK, Calif., July 31, 2023 /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) announced today that its board of directors has approved a quarterly cash dividend of $0.48 per share. The cash dividend will be paid on Sept. 15, 2023, to all shareholders of record as of Aug. 25, 2023.
Robert Half is the world's first and largest specialized talent solutions and business consulting firm that connects people with meaningful work and provides companies with the talent and subject matter expertise they need to confidently compete and grow. Robert Half is the parent company of Protiviti®, a global consulting firm that provides internal audit, risk, business and technology consulting solutions. Robert Half, including Protiviti, has been named to the Fortune® Most Admired Companies™ and Most Innovative Companies lists and is a Forbes Best Employer for Diversity. Robert Half has talent solutions and consulting operations in more than 400 locations worldwide.
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SOURCE Robert Half
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NEW YORK (AP) — Troubled trucking company Yellow Corp. is shutting down and headed for a bankruptcy, the Teamsters said Monday.
An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. Its expected liquidation would mark a significant shift for the U.S. transportation industry and shippers nationwide.
“Today’s news is unfortunate but not surprising. Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government,” Teamsters General President Sean M. O’Brien said, in an announcement saying the union had been served with legal notice for the bankruptcy filing. “This is a sad day for workers and the American freight industry.”
Yellow did not have a comment when reached by The Associated Press Monday. As of Monday afternoon, no bankruptcy filings from the company could be found on the Securities and Exchange Commission’s website.
The company’s collapse arrives just three years after Yellow, formerly known as YRC Worldwide Inc., received $700 million in pandemic-era loans from the federal government. But the company was in financial trouble long before that — with industry analysts pointing to poor management and strategic decisions dating back decades.
Former Yellow customers and shippers will face higher prices as they take their business to competitors, including FedEx or ABF Freight, experts say — noting that Yellow historically offered the cheapest price points in the industry.
Yellow is one of the nation’s largest less-than-truckload carriers. The closure of the 99-year-old Nashville, Tennessee-based company risks a loss of 30,000 jobs.
Safety vests that appeared to belong to former Yellow workers were zip-tied to the fence of a closed YRC Freight terminal in St. Louis, Missouri on Monday. Names and years worked at the company were written on them.
“Ron Fisher 2017-2023 was here,” one vest read.
Reports of Yellow preparing for bankruptcy emerged last week — as the Nashville, Tennessee-based trucker saw customers leave in large numbers, per The Wall Street Journal and FreightWaves. And the company reportedly stopped freight pickups earlier in the week.
Yellow shut down operations on Sunday, according to The Journal, following the layoffs of hundreds of nonunion employees on Friday.
The bankruptcy preparation reports arrived just days after Yellow averted a strike from the Teamsters, which represents Yellow’s 22,000 unionized workers, amid heated contract negotiations. On July 23, a pension fund agreed to extend health benefits for workers at two Yellow Corp. operating companies, avoiding a planned walkout. The fund gave Yellow “30 days to pay its bills,” notably $50 million that Yellow failed to pay the Central States Health and Welfare Fund earlier in the month.
Yellow has racked up hefty bills over the years. As of late March, Yellow had an outstanding debt of about $1.5 billion. Of that, $729.2 million was owed to the federal government.
In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. Last month, a congressional probe concluded that the Treasury and Defense departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan, and continued struggles, expose taxpayers to a significant risk of loss.”
The government loan is due in September 2024. As of March, Yellow had made $54.8 million in interest payments and repaid just $230 million of the principal owed, according to government documents.
The current financial chaos at Yellow “is probably two decades in the making,” said Stifel research director Bruce Chan, pointing to poor management and strategic decisions dating back to the early 2000s. “At this point, after each party has bailed them out so many times, there is a limited appetite to do that anymore.”
A Wednesday investors note from financial service firm Stephens estimated that Yellow was burning daily amounts of $9 million to $10 million in recent days.
Yellow handled an average of 49,000 shipments per day in 2022 according to Satish Jindel, president of transportation and logistics firm SJ Consulting. On Friday, he estimated that number was down to between 10,000 and 15,000 daily shipments.
Yellow’s prices have historically been the cheapest compared to other carriers, Jindel said. “That’s why they obviously were not making money,” he added. “And while there is capacity with the other LTL carriers to handle the diversions from Yellow, it will come at a high price for (current shippers and customers) of Yellow.”
—-
AP Business Writer Matt Ott contributed to this report.
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'Improvised and atrocious': Italy looks to leave China deal, reversing decision of previous government
Italy was the only major Western country to join the controversial Belt and Road Initiative
Italy will pull out of the controversial Chinese Belt and Road Initiative, Italian Defence Minister Guido Crosetto said in an interview Sunday.
"The issue today is: how to walk back (from the BRI) without damaging relations [with Beijing]. Because it is true that China is a competitor, but it is also a partner," Crosetto said in an interview with the Corriere della Sera newspaper, according to a report from Reuters.
Crosetto's comments come after Italian Prime Minister Giorgia Meloni's visit with President Biden in Washington, D.C., last week, where the Italian leader said her government was still considering its options when it came to the deal with China.
ITALY'S MELONI DRAWS COMPARISON TO LEGENDARY EUROPEAN LEADER AHEAD OF VISIT WITH BIDEN
"We'll take a decision before December," Meloni later told Fox News' Maria Bartiromo in an exclusive interview.
Italy was the only major Western country to join the agreement with China, a massive infrastructure spending project China envisions would result in a new Silk Road that can connect China with the rest of Asian and Europe, earning scorn from some European Union leaders and Washington at the time.
But the decision to join the initiative was made under the country's previous leadership, something Crosetto said was an "improvised and atrocious act."
ITALY'S GIORGIA MELONI SWORN IN, FIRST WOMAN TO BE PREMIER
Critics of Italy joining the deal have argued it has done little to benefit the country's economy, Politico reported Sunday, noting that the pact did not improve Italy's trade deficit with China. Since the agreement was signed in 2019, Chinese exports to Italy increased 51%, while Chinese imports of Italian goods only increased by 26%, the report noted, citing the country's Trade Agency.
Crosetto's comments somewhat echoed those of Meloni's from earlier this year, when she expressed optimism that Italy's relationship with China could be strong without her country's participation in the initiative.
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"Italy is the only G-7 member that signed up to the accession memorandum to the Silk Road, but it is not the European or Western country with the strongest economic relations and trade flows with China," Meloni said in May, according to Politico. "This means that it is possible to have good relations with Beijing, also in important domains, without them necessarily being part of an overall strategic plan."
Reuters contributed to this report.
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The state attorney general’s office filed a lawsuit on Monday against Mystic Valley Regional Charter School, claiming the school failed to comply with the Massachusetts Public Records Law.
Andrea Campbell’s office said the Malden-based charter school received 10 records requests between January and November of last year, but declined to provide the records. In response to the requests, Mystic Valley Regional officials claimed the school was exempt from the state’s public records law, which says every person has the right of access to public information, because “as a Commonwealth Charter School, it does not fall under the category of entities handling public documents,” according to the lawsuit
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Those who made public records requests and were denied include the Malden News Network, Commonwealth Transparency and Malden mayoral candidate Lissette Alvarado.
Some of the requested records included correspondence between the school and the Globe, as well as other news outlets, all of which had reported on the controversies involving the charter; accounting and corporate statements; meeting packets distributed to the school board; and conflict of interest disclosures filed by the Mystic Valley Regional Board of Trustees.
The lawsuit was filed in the state Superior Court on Monday by the AG’s Division of Open Government, which has the authority to enforce open meeting and public record laws in the state.
“After MVRCS refused to comply with several orders issued by the Supervisor of Records, the Supervisor referred the matter to the Attorney General to ensure compliance,” the AG’s office said in a press release. “By bringing this action, the Attorney General seeks a declaration that MVRCS is a custodian of public records subject to the Public Records Law, and that it must respond to public records requests.”
Mystic Valley Regional Superintendent and Director Alex Dan did not immediately respond to the Globe’s request for comment on Monday.
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This is a developing story. Check back for updates.
Adria Watson can be reached at adria.watson@globe.com. Follow her @adriarwatson.
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Published: Jul. 31, 2023 at 4:30 PM EDT|Updated: 30 minutes ago
Business highlights include $50 million share repurchase, continued progress integrating recent acquisitions, ongoing development and implementation of organic growth and customer experience initiatives including our new University Park, IL service center, and eighth consecutive increase in the quarterly dividend. Quarterly results include strong cash flow generation.
CHICAGO, July 31, 2023 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the second quarter ended June 30, 2023.
Highlights:
Achieved Net Income attributable to Ryerson Holding Corporation of $37.6 million with Adjusted EBITDA1, excluding LIFO of $70.1 million
Earned Diluted EPS2 of $1.06 on revenue of $1.3 billion
Generated Operating Cash Flow of $115.3 million and Free Cash Flow of $69.1 million
Maintained Net Leverage ratio within target range at 1.4x, debt of $396 million and net debt3 of $366 million as of June 30, 2023
Repurchased 1.4 million shares directly from an affiliate of Platinum Equity, concurrent to their secondary public offering, creating value for shareholders and contributing to free float increasing to 77% as of June 30, 2023
Announced third quarter 2023 dividend of $0.1825 per share, a 1.4% increase from the prior quarter
A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included below in this news release.
Management Commentary Eddie Lehner, Ryerson's President and Chief Executive Officer, said, "I want to thank all of my Ryerson teammates for their continued dedication to operating safely and productively, and I want to thank our customers for the opportunity to create and deliver better customer experiences which we never take for granted. Counter-cyclical industry conditions, particularly within our stainless-steel products franchise, arrived mid-quarter and were evidenced by industrial metals bellwether price index declines and demand contraction in Ryerson's later-cycle end markets. Counter-cyclical conditions as experienced during the second half of last year re-emerged in the second quarter of this year for a myriad of reasons. Shifting consumer spending patterns, higher interest rates, quieted but still present financial system stress and tightening as well as an economic recovery in China that has failed to materialize all contributed to a subdued manufacturing macro environment during the quarter. Ryerson is investing in and preparing for the next synchronized manufacturing upturn whose secular characteristics around the necessity of above trend growth in fixed-asset investment with greater supply-chain resiliency remain intact. We are confident that carrying our growth and operating model investments across counter-cyclical waters as expressed through our recent acquisitions, greenfield service centers and facility modernizations and capital expenditures around value-added fabrication as well as ongoing investments in digitalization, future-state systems and additive manufacturing will position Ryerson well for both the next cyclical upturn and the longer term secular growth in North American manufacturing activity that is underway. As we have during past counter-cycles, we will take out non-value-added costs, flex expenses down, and better optimize our industrial metals inventories as we move through the third quarter and back-half of the year."
Second Quarter Results Ryerson generated net sales of $1.3 billion in the second quarter of 2023, a decrease of 4.5%, compared to the first quarter of 2023. This was largely driven by sequentially lower volumes, which decreased 4.4%, while average selling prices remained unchanged, compared to the first quarter of 2023.
Gross margin expanded sequentially by 60 basis points to 19.4% in the second quarter, compared to 18.8% in the first quarter. Gross Margins reflected LIFO income of $9M, as the commodity price curves for our metals products sales mix decreased resulting in a LIFO credit in costs of goods sold.
Excluding the impact of LIFO, gross margin contracted 40 basis points to 18.7% in the second quarter, compared to 19.1% in the first quarter. This was primarily driven by a decrease in stainless steel commodity prices coupled with continued high inventories in the channel that put downward pressure on average selling prices. Warehousing, delivery, selling, general and administrative expenses increased 4.3% to $202.6 million in the second quarter, compared to $194.2 million in the first quarter, primarily driven by expense related to acquisitions, higher depreciation expense driven by higher capital expenditures on growth initiatives, reorganization expenses related to an ERP systems implementation and start-up costs associated with the University Park service center, which were partially offset by lower fixed operating expenses.
Net income attributable to Ryerson Holding Corporation for the second quarter of 2023 was $37.6 million, or $1.06 per diluted share, compared to net income of $47.3 million, or $1.27 per diluted share in the previous quarter. Ryerson generated Adjusted EBITDA, excluding LIFO of $70.1 million in the second quarter, compared to the first quarter Adjusted EBITDA, excluding LIFO of $90.1 million.
Liquidity & Debt Management Ryerson generated $115.3 million of cash from operations in the second quarter of 2023, supported by net income attributable to Ryerson Holding of $37.6 million and working capital release of $37.8 million. The Company ended the second quarter of 2023 with $396 million of debt and $366 million of net debt, sequential increases of $1 million and $15 million, respectively, compared to the first quarter. Ryerson's leverage ratio as of the second quarter was 1.4x, within the Company's target leverage range. Ryerson's global liquidity, composed of cash and cash equivalents and availability on its revolving credit facilities was $790 million as of June 30, 2023.
Shareholder Return Activity
Dividends. During the second quarter of 2023, Ryerson paid a quarterly dividend in the amount of $0.1800 per share, amounting to a cash return of approximately $6.2 million. On July 31, 2023, the Board of Directors declared a quarterly cash dividend of $0.1825 per share of common stock, payable on September 14, 2023, to stockholders of record as of August 31, 2023.
Share Repurchase. On May 8, 2023, Ryerson repurchased 1,369,300 shares of common stock for approximately $50.0 million directly from an affiliate of Platinum Equity. Additionally, over the course of the second quarter of 2023, the Company repurchased 12,872 shares for $0.4 million in the open market. In total, Ryerson repurchased 1,382,172 shares of common stock resulting in a return to shareholders of approximately $50.4 million for the second quarter of 2023. Ryerson made these repurchases in accordance with its share repurchase authorization, which allows the Company to acquire up to an aggregate amount of $100.0 million of the Company's common stock through April of 2025. As of June 30, 2023, $49.6 million of the $100.0 million remained under the existing share repurchase authorization.
Outlook Commentary For the third quarter of 2023, Ryerson expects a continuation of slowing demand conditions, with customer shipments expected to decrease approximately 2% to 4%, quarter-over-quarter. The Company anticipates third-quarter net sales to be in the range of $1.25 billion to $1.30 billion, with average selling prices decreasing 1% to 2%. LIFO income in the third quarter of 2023 is expected to be $2 million. We expect adjusted EBITDA, excluding LIFO in the range of $43 million to $47 million and earnings per diluted share in the range of $0.31 to $0.43.
Earnings Call Information Ryerson will host a conference call to discuss second quarter 2023 financial results for the period ended June 30, 2023, on Tuesday, August 1, 2023, at 10 a.m. Eastern Time. The live online broadcast will be available on the Company's investor relations website, ir.ryerson.com. A replay will be available at the same website for 90 days.
About Ryerson Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,300 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.
Notes: 1For EBITDA, Adjusted EBITDA and Adjusted EBITDA excluding LIFO please see Schedule 2 2EPS is Earnings per Share 3Net debt is defined as long term debt plus short term debt less cash and cash equivalents and excludes restricted cash
Legal Disclaimer The contents herein are provided for general information purposes only and do not constitute an offer to sell or buy, or a solicitation of an offer to buy, any security ("Security") of the Company or its affiliates ("Ryerson") in any jurisdiction. Ryerson does not intend to solicit, and is not soliciting, any action with respect to any Security or any other contractual relationship with Ryerson. Nothing in this release, individually or taken in the aggregate, constitutes an offer of securities for sale or buy, or a solicitation of an offer to buy, any Security in the United States, or to U.S. persons, or in any other jurisdiction in which such an offer or solicitation is unlawful.
Safe Harbor Provision Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; the impact of geopolitical events, including Russia's invasion of Ukraine and global trade sanctions; fluctuating metal prices; our indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; the ownership of a significant portion of our equity securities by a single investor group; work stoppages; obligations under certain employee retirement benefit plans; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2022,our quarterly report on Form 10-Q for the quarter ended June 30, 2023 and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
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NEW YORK (AP) — Trucking company Yellow Corp. has shut down operations and is headed for a bankruptcy filing, according to the Teamsters Union and multiple media reports.
After years of financial struggles, reports of Yellow preparing for bankruptcy emerged last week — as the Nashville, Tennessee-based trucker saw customers leave in large numbers. Yellow shut down operations on Sunday, according to the Wall Street Journal, following the layoffs of hundreds of nonunion employees on Friday.
In an announcement early Monday, the Teamsters said that the union received legal notice confirming Yellow was ceasing operations and filing for bankruptcy.
“Today’s news is unfortunate but not surprising. Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government,” Teamsters general president Sean O’Brien said in a statement. “This is a sad day for workers and the American freight industry.”
The Associated Press reached out to Yellow for comment on Monday. No bankruptcy filings had gone live as of the early morning.
The bankruptcy reports have renewed attention around Yellow’s ongoing negotiations with unionized workers, a $700 million pandemic-era loan from the government and other bills the trucker has racked up over time. Yellow, formerly known as YRC Worldwide Inc., is one of the nation’s largest less-than-truckload carriers. The company’s reported closure puts 30,000 jobs at risk.
Here’s what you need to know.
According to Satish Jindel, president of transportation and logistics firm SJ Consulting, Yellow handled an average of 49,000 shipments per day in 2022. Last week, he estimated that number was down to between 10,000 and 15,000 daily shipments.
With customers leaving — as well reports of Yellow stopping freight pickups last week — bankruptcy would “be the end of Yellow,” Jindel told The Associated Press, noting increased risk for liquidation.
“The likelihood of them surviving and remaining solvent diminishes really by the day,” added Bruce Chan, a research director at investment banking firm Stifel.
Yellow declined to comment when contacted by The Associated Press on Friday. In a Wednesday statement to The Journal, the company said it was continuing “to prepare for a range of contingencies.” On Thursday, Yellow said it was in talks with multiple parties about selling its third-party logistics organization.
Even if Yellow was able to sell its logistics firm, it would “not generate a sufficient amount of cash to keep them operational on any sort of permanent basis,” Chan said. “Without a major equity injection, it would be very difficult for them to survive.”
As of late March, Yellow had an outstanding debt of about $1.5 billion. Of that, $729.2 million was owed to the federal government.
In 2020, under the Trump administration, the Treasury Department granted the company a $700 million pandemic-era loan on national security grounds. Last month, a congressional probe concluded that the Treasury and Defense Departments “made missteps” in this decision — and noted that Yellow’s “precarious financial position at the time of the loan, and continued struggles, expose taxpayers to a significant risk of loss.”
The government loan is due in September 2024. As of March, Yellow had made $54.8 million in interest payments and repaid just $230 million of the principal owed, according to government documents.
Yellow’s current finances and prospect of bankruptcy “is probably two decades in the making,” Chan said, pointing to poor management and strategic decisions dating back to the early 2000s. “At this point, after each party has bailed them out so many times, there is a limited appetite to do that anymore.”
In May, Yellow reported a loss of $54.6 million, a decline of $1.06 per share, for its first quarter of 2023. Operating revenue was about $1.16 billion in the period.
A Wednesday investors note from financial service firm Stephens estimated that Yellow could be burning between $9 million and $10 million each day. Using a liquidity disclosure from earlier this month, Yellow had roughly $100 million in cash at the end of June, the note added — estimating that the company has been burning through increasing amounts of money through July.
“It is reasonable to believe that the Company could breach its $35 mil. liquidity requirement at any moment,” Stephens analyst Jack Atkins and associate Grant Smith wrote.
Last week’s reports of bankruptcy preparations arrived just days after a strike from the Teamsters, which represents Yellow’s 22,000 unionized workers, was averted.
A series of heated exchanges have built up between the Teamsters and Yellow, who sued the union in June after alleging it was “unjustifiably blocking” restructuring plans needed for the company’s survival. The Teamsters called the litigation “baseless” — with O’Brien pointing to Yellow’s “decades of gross mismanagement,” which included exhausting the $700 million federal loan.
On July 23, a pension fund agreed to extend health benefits for workers at two Yellow Corp. operating companies, averting a strike — and giving Yellow “30 days to pay its bills,” notably $50 million that Yellow failed to pay the Central States Health and Welfare Fund on July 15, the union said. While the strike didn’t occur, talks of a walkout may have caused some Yellow customers to pull back, Chan said.
“The financial struggles of Yellow are not related to the union and the contracts,” Jindel said, pointing to management’s responsibility around its services and prices. He added the union wages from Yellow are “lower than any competitor.”
As Yellow customers take their shipments to other carriers, like FedEx or ABF Freight, prices will go up.
Yellow’s prices have historically been the cheapest compared to other carriers, Jindel said. “That’s why they obviously were not making money,” he added. “And while there is capacity with the other LTL carriers to handle the diversions from Yellow, it will come at a high price for (current shippers and customers) of Yellow.”
Chan adds that we’re in an interesting time for the LTL marketplace — noting that, if Yellow liquidates, “the freight would find a home” with other carriers, which may not have been true in recent years.
“It may take time, but there’s room for it to be absorbed,” he said.
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Iraq calls for Islamic Cooperation Committee to address Quran desecration in European countries
Quran burnings have triggered anger and diplomatic repercussions in Muslim countries
Iraq’s foreign minister called Monday for the Organization for Islamic Cooperation to form a committee for talks with the European Union over its member countries permitting the desecration of the Quran and to enlist volunteers to file lawsuits to halt the practice.
Foreign Minister Fouad Hussein also called on the United Nations to "take measures to prevent these incidents."
Hussein made his statement during an emergency online meeting of foreign ministers from the Jeddah-based organization to discuss recent incidents in which the Islamic holy book was burned or otherwise defaced at officially permitted protests in Sweden and Denmark.
The body did not issue any decision or official statement after Monday’s meeting.
Ahead of the meeting, two men who had previously burned a copy of the Quran in Sweden did so once again, in front of a crowd of a few dozen onlookers and about 20 counter-protesters.
IRANIAN HORNET'S NEST OF TERROR GROUPS SURROUND ISRAEL AMID CALLS FOR NEW US SANCTIONS
In both Sweden and Denmark, there is no law against blasphemy, and freedom of expression is generally held in high regard.
But as the recent Quran burnings have sparked angry demonstrations and diplomatic backlash in Muslim countries, officials in the Scandinavian countries have begun to consider whether there should be curbs on public defacement of holy books or other religious symbols.
Denmark’s foreign minister, Lars Løkke Rasmussen, said Sunday in an interview with Danish public broadcaster DR that the government is seeking a "legal tool" to prohibit such inflammatory acts without compromising freedom of expression.
In Sweden, Prime Minister Ulf Kristersson said Sunday on Instagram that his government is analyzing the legal situation regarding desecration of the Quran and other holy books, given the animosity such acts are stirring up against Sweden.
Before Monday’s meeting, the OIC had already suspended the status of Sweden’s special envoy over the Quran burnings.
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Sweden’s Foreign Minister Tobias Billström said in a statement that he spoke in recent days with counterparts in OIC countries to explain how Sweden's freedom of expression works and that police make independent decisions on protest applications. He added that "the government is very clear in its distance from the Islamophobic acts carried out by individuals at demonstrations in Sweden."
The Danish foreign minister said his "government condemned and denounced the insult" to the Quran and "that it is studying this issue with great interest."
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A 33-year-old Boston man accused of stealing a truck with a baby inside earlier this month was arrested Monday morning by Boston police, authorities said in a statement.
Cristofanes “Christopher” Mendes faces charges including reckless endangerment of a child after authorities said he stole the truck while a baby was still inside a car seat on the afternoon of July 14.
The baby’s parents had parked their vehicle near Geneva Avenue and Leroy Street and gotten out, but the suspect -- later identified as Mendes by police -- jumped into the vehicle and sped away, police said.
Mendes returned to the scene a few moments later, stopped, and placed the baby in the car seat onto the sidewalk, according to police. He then drove away again, although the truck was found abandoned an hour later on Columbia Road.
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On Monday, Boston police said Mendes was arrested without incident in the area of Massachusetts Avenue and Chesterton Street in Roxbury around 10:30 a.m. He was expected to be arraigned in Boston Municipal Court in Dorchester, police said in a brief statement.
No attorney was listed for his Boston case Monday, according to Boston Municipal Court files. He had not been arraigned as of Monday afternoon, according to the clerk’s office.
John Hilliard can be reached at john.hilliard@globe.com.
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SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended July 1, 2023 and outlook for its fiscal fourth quarter ending September 30, 2023.
"Our third quarter results were in line with our outlook. We continue to execute well and deliver consistent operating margins and solid cash generation," stated Jure Sola, Chairman and Chief Executive Officer. "Our strong performance in the first nine months and achievement of our outlook for the fourth quarter would result in fiscal 2023 revenue growth of approximately 14 percent and non-GAAP EPS growth of approximately 35 percent. The team remains focused on excellence in quality, delivery and consistently meeting the needs of our customers. We have a strong foundation and promising future," Sola concluded.
Fourth Quarter Fiscal 2023 Outlook
The following outlook is for the fiscal fourth quarter ending September 30, 2023. These statements are forward-looking and actual results may differ materially.
- Revenue between $2.1 billion to $2.2 billion
- GAAP diluted earnings per share between $1.24 to $1.34
- Non-GAAP diluted earnings per share between $1.47 to $1.57
Safe Harbor Statement
The statements above concerning our financial outlook for the fourth quarter fiscal 2023 and our expectations for growth in revenue and non-GAAP earnings per share in fiscal 2023 should such outlook be achieved, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, most notably ongoing supply chain constraints and geopolitical uncertainty, including from the conflict in Ukraine. Other factors that could cause our results to differ from our forward-looking statements include adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; and the other risk factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission.
The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.
Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the third quarter and outlook for the fourth quarter of fiscal 2023 on Monday, July 31, 2023 at 5:30 p.m. ET (2:30 p.m. PT). The access numbers are: domestic 833-816-1390 and international 412-317-0483. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q3 Webcast Link. Additional information in the form of a slide presentation is available on Sanmina's website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 877-344-7529 and international 412-317-0088, access code is 1520057.
About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.
Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610
Schedule 1
The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income, diluted earnings per share and pre-tax return on invested capital (ROIC). Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.
Management excludes these items principally because such charges or benefits are not directly related to the Company's ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company's operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company's strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management's approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company's liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company's performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.
Additional information regarding the economic substance of each exclusion, management's use of the resultant non-GAAP measures, the material limitations of management's approach and management's methods for compensating for such limitations is provided below.
Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company's results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company's core results with those of its competitors.
Restructuring, Acquisition and Integration Expenses, which consist of severance, lease termination costs, exit costs, environmental investigation, remediation and related costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company's competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company's core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company's competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Therefore, management also reviews GAAP results including these amounts.
Impairment Charges, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company's liquidity. In addition, given the fact that the Company's competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors.
Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company's liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors because the Company's competitors complete acquisitions at different times and for different amounts than the Company.
Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, gains and losses on sales of assets, deferred tax adjustments and discrete tax items, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company's ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company's competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.
Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company's core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.
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Everything’s coming up pink at Tipton and Hurst with pink tableware, barware, and dramatic fresh floral arrangements. The Community Bakey shows off some of their signature Barbie sweets including their famous sugar cookies and Barbie cake.
Everything’s coming up pink at Tipton and Hurst with pink tableware, barware, and dramatic fresh floral arrangements. The Community Bakey shows off some of their signature Barbie sweets including their famous sugar cookies and Barbie cake.
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https://www.kark.com/arkansas-style/barbie-themed-tablescapes/
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HONG KONG (AP) — Fans of singer and songwriter Coco Lee, who was known for her powerful voice and live performances, gathered with flowers to pay their respects to their idol at her funeral in Hong Kong on Monday.
The memorial service was attended by her family and friends, including singers Elva Hsiao and Jenny Tseng, as well as other supporters. Lee died July 5 at age 48.
She was born in Hong Kong and attended school in San Francisco before releasing her first album in 1994 at age 19. She began her career as a Mandopop singer but branched out to release albums in Cantonese and English.
She was the first Chinese singer to break into the American market, and her English song “Do You Want My Love” climbed to #4 on Billboard’s Hot Dance Breakouts chart in December 1999. In 2001, she sang “A Love Before Time” from Ang Lee’s movie “Crouching Tiger, Hidden Dragon” at the Academy Awards, becoming the first Chinese American to perform at the Oscars.
Lee was also the voice of heroine Fa Mulan in the Mandarin version of Disney’s “Mulan,” and sang the Mandarin version of the movie’s theme song “Reflection.”
Lee was married to Bruce Rockowitz, former CEO of Hong Kong supply chain company Li & Fung. She had two stepdaughters.
Her death had shocked fans. Her siblings posted on Facebook that she had depression for years and had attempted suicide at home on July 2. She died a few days later.
On Monday afternoon, more than 100 fans dressed in black were waiting outside the funeral home.
Lin Jing, a fan from Fujian province in the southeast, said she admired Lee’s smile and appearance, adding: “She was really talented. She always tried to improve and she inspired women to feel independent.”
Inside the funeral hall, three pink hearts made of flowers and other floral decorations were displayed below Lee’s photo.
Her close friend, Hsiao, said during the ceremony that she remembered watching Lee’s performances as a student and thinking of her as a perfect idol. After they became friends in the entertainment industry, Lee encouraged Hsiao when she was lost and treated her as “a little sister.”
“She brightened my life with her happiness and bravery. I will keep preserving her spirit,” Hsiao said in a quavering voice.
In a video for the memorial service, actors and singers from Hong Kong, mainland China and Taiwan recalled their memories with Lee and mourned her death.
Action star Jackie Chan said in the video that everyone was proud of her when she sang at the Oscars.
“To friends like us, Coco was a passionate and kind friend who showed care to us. She was really a good person. That’s why we are so reluctant to accept she has left us,” he said.
Award-winning director Ang Lee recalled his exchanges with the late singer before the Oscars and said it was a pity she died so young. “We miss her very much. Coco, rest in peace,” he said in the video.
Coco Lee had sounded notes of positivity in social media posts during the months before her death. In March, she posted about recuperating from surgery for an old leg injury.
“Successful surgery. Even though I’m in a lot of pain and I have to re-learn how to walk again, I know I can do it,” she wrote in a Facebook post. “Yes I can and I will!”
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Associated Press video journalist Alice Fung and news assistant Annie Cheung contributed to this report.
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Biden has decided to keep Space Command in Colorado, rejecting move to Alabama, officials tell AP
WASHINGTON (AP) — President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama and ending months of politically fueled debate, according to senior U.S. officials.
The officials said Biden was convinced by the head of Space Command, Gen. James Dickinson, who argued that moving his headquarters now would jeopardize military readiness. Dickinson’s view, however, was in contrast to Air Force leadership, who studied the issue at length and determined that relocating to Huntsville, Alabama, was the right move.
The officials spoke on condition of anonymity to discuss the decision ahead of the announcement.
The president, they said, believes that keeping the command in Colorado Springs would avoid a disruption in readiness that the move would cause, particularly as the U.S. races to compete with China in space. And they said Biden firmly believes that maintaining stability will help the military be better able to respond in space over the next decade. Those factors, they said, outweighed what the president believed would be any minor benefits of moving to Alabama.
Biden’s decision is sure to enrage Alabama lawmakers and fuel accusations that abortion politics played a role in the choice. The location debate has become entangled in the ongoing battle between Alabama Republican Sen. Tommy Tuberville and the Defense Department over the move to provide travel for troops seeking reproductive health care. Tuberville opposed the policy is blocking hundreds of military promotions in protest.
The U.S. officials said the abortion issue had no effect at all on Biden’s decision. And they said the president fully expected there would be different views on the matter within the Defense Department.
Formally created in August 2019, the command was temporarily based in Colorado, and Air Force and Space Force leaders initially recommended it stay there. In the final days of his presidency Donald Trump decided it should be based in Huntsville.
The change triggered a number of reviews.
Proponents of keeping the command in Colorado have argued that moving it to Huntsville and creating a new headquarters would set back its progress at a time it needs to move quickly to be positioned to match China’s military space rise. And Colorado Springs is also home to the Air Force Academy, which now graduates Space Force guardians, and more than 24 military space missions, including three Space Force bases.
Officials also argued that any new headquarters in Alabama would not be completed until sometime after 2030, forcing a lengthy transition.
Huntsville, however, scored higher than Colorado Springs in a Government Accountability Office assessment of potential locations and has long been a home to some of earliest missiles used in the nation’s space programs, including the Saturn V rocket. It is home to the Army’s Space and Missile Defense Command.
According to officials, Air Force Secretary Frank Kendall, who ordered his own review of the matter, leaned toward Huntsville, while Dickinson was staunchly in favor of staying put. The officials said Defense Secretary Lloyd Austin presented both options to Biden.
The decision was good news for Colorado lawmakers.
“For two and a half years we’ve known any objective analysis of this basing decision would reach the same conclusion we did, that Peterson Space Force Base is the best home for Space Command,” Sen. John Hickenlooper, D-Colo., said in a statement. “Most importantly, this decision firmly rejects the idea that politics — instead of national security — should determine basing decisions central to our national security.”
Sen. Michael Bennet, D-Colo., said the decision “restores integrity to the Pentagon’s basing process and sends a strong message that national security and the readiness of our Armed Forces drive our military decisions.”
Copyright 2023 The Associated Press. All rights reserved.
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Nichole coordinates a head-to-toe Barbie fashion outfit with platform heels, hot pink pants, a Barbie graphic tee shirt, and the iconic pink beret all compliments of Walmart. She also takes a fun Barbie quiz to see which Barbie is her alter ego.
Nichole coordinates a head-to-toe Barbie fashion outfit with platform heels, hot pink pants, a Barbie graphic tee shirt, and the iconic pink beret all compliments of Walmart. She also takes a fun Barbie quiz to see which Barbie is her alter ego.
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https://www.kark.com/arkansas-style/beret-barbie/
| 2023-07-31T21:02:47
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Buttigieg touts progress in goal for half of new car sales to be electric vehicles
WASHINGTON (Gray DC) - Following an announcement of private investment plan for 30,000 new electric vehicle chargers across the United States, Transportation Secretary Pete Buttigieg said government investment has paved the way private companies to produce more electric cars.
“Federal investment to try and make up the difference where markets are still getting ready, and then the private sector, private industry, needs to do the rest,” Buttigieg said.
Leading global electric vehicle manufacturers, including Ford, General Motors and BMW have joined together to build 30,000 electric vehicle chargers across the country.
“When you fill up your gas car with gas you’re counting on private companies to set up for that,” Buttigieg said. “We really need private industry to play more of a roll in investing in and running these electric vehicle charging stations.”
The government has set aside $7.5 billion for states to create their own networks of EV chargers, but the Biden administration wants to guarantee things like price transparency, and guaranteeing a charger from one company works for another company’s vehicles.
“They are going to meet standards that we have set, and they’ll have to in order to qualify for federal support.”
Buttigieg said if the U.S. does not take the lead on electric vehicles, someone else will.
“There is a race, whether people realize it or not,” Buttigieg said. “Where in the middle of a heated race to win the future of electric vehicles.”
The federal money for EV charging networks comes from the Bipartisan Infrastructure Law passed in 2021.
Copyright 2023 Gray DC. All rights reserved.
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Sissy’s Log Cabin carries the largest selection of fine jewelry featuring pink diamonds, pink sapphires, morganite, and pink lustered pearls all to top off your Barbie look.
Sissy’s Log Cabin carries the largest selection of fine jewelry featuring pink diamonds, pink sapphires, morganite, and pink lustered pearls all to top off your Barbie look.
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https://www.kark.com/arkansas-style/fine-jewelry-featuring-brilliant-pink-stones/
| 2023-07-31T21:02:48
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Nichole coordinates the Barbiecore look by wearing all shades of pink fashion and accessories from Walmart paired with makeup products to give you that flawless and glowing Barbie face. Nichole also reviews all of Margot Robbie’s look-a-like Barbie outfits on the red carpet.
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https://www.kark.com/arkansas-style/get-the-barbiecore-look/
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Doctors concerned brain-eating amoeba infection could increase due to warmer water temperatures
PHOENIX (KPHO/Gray News) -- Some scientists predict brain-eating amoeba cases could grow since we’ve had record heat and water temperatures are increasing.
The amoeba, naegleria fowleri, can enter the body through the nose and travel to the brain, resulting in an infection. While cases are limited over the years, there have been multiple in Arizona at Lake Pleasant and Lake Mead.
Most recently in Nevada, a child died because of the disease.
Brain-eating amoeba is a microscopic parasite found in warm, fresh bodies of water like hot springs or lakes. You can’t get it by accidentally swallowing the water or through a cut. The only way to get infected is by getting it far up your nose by diving or cannonballing into a lake.
Although infection is rare, the disease has a 97% fatality rate since symptoms are common at first. The disease is usually only diagnosed when it’s in the late-stage and symptoms progress to more severe illness like hallucinations and seizures. By that point, it’s usually too late to treat the disease effectively.
There are only about 10 cases per year, but experts say because the amoebas live in warm, fresh bodies of water, they expect to see that number increase with rising temperatures.
Dr. Wassim Ballan, an infectious disease specialist at Phoenix Children’s Hospital, said there are concerns about cases rising, as well as a number of other infectious diseases.
“We are probably going to see a change in trends because of the climate changing and the temperatures rising,” Ballan said. “So there is a lot of concern in the infectious disease community about a lot of different infections, including amoebic infections becoming more common as the climate is warming.”
He also said parents who notice their child feeling unwell after a day of swimming should get them checked out right away. Early symptoms usually start five days after infection. They include sudden fever, headache, and stiff neck. Because the amoebas can only be deadly by entering through the nose, doctors recommend you not jump or dive into the water and instead hold your nose or wear nose clips. Or better yet, keep your head above water.
Digging in shallow water is also not advised since it stirs up the sediment where the amoeba live. It’s important to note there haven’t been any recent cases at Saguaro Lake. Since they started tracking the disease in 1962, there have been only 160 reported cases, so it’s infrequent. Still, Ballan said it isn’t worth the risk when prevention is so easy.
For more information on the naegleria fowleri, visit the Centers for Disease Control and Prevention’s website.
Copyright 2023 KPHO/KTVK via Gray Media Group, Inc. All rights reserved.
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Kalie Ojala, bartender at Petit and Keet, mixes up a delightful and festive Barbie cocktail and invites everyone out for their L80’s Barbie Night.
Kalie Ojala, bartender at Petit and Keet, mixes up a delightful and festive Barbie cocktail and invites everyone out for their L80’s Barbie Night.
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| 2023-07-31T21:02:49
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US Commerce Secretary Gina Raimondo is planning to visit China in late August, according to people familiar with the matter, part of the Biden administration’s effort to reduce tensions between the world’s two largest economies.
Raimondo is aiming to travel to Beijing the week of Aug. 21, although the dates aren't finalized and could shift, according to the people, who spoke on the condition of anonymity to discuss her plans.
It’s also still unclear what Raimondo could expect to deliver for US businesses, the people said, and the commerce chief is hesitant to go without knowing that the trip will yield positive outcomes for American firms.
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The Commerce Department's press office declined to comment on trip timing and didn't respond to questions about the topics Raimondo would want to discuss with her counterparts. She said at an event in Washington last week that she plans to go to China "later this summer" but is "still finalizing a date and plans."
Raimondo, whose emails were hacked earlier this month in a breach tied to China, has been at the forefront of White House efforts to curb Beijing’s access to advanced technology, including export controls announced last year.
Her trip could come at a sensitive time in the bilateral relationship, with Biden set to sign an order curbing critical US technology investments in China by mid-August.
On her first trip to China as commerce secretary, Raimondo would be the fourth high-level member of President Biden’s administration to visit since June, following Secretary of State Antony Blinken, Treasury Secretary Janet Yellen and climate envoy John Kerry.
The earlier visits by top administration officials have yet to deliver significant public results beyond agreeing to further dialogue. The White House is looking to smooth ties with Beijing following months of heightened tensions over incidents including an alleged spy balloon, the U.S. export controls on computer chip technology and military encounters in the South China Sea.
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The planned executive order on outbound investment focuses on deals in the semiconductor, quantum computing and artificial intelligence sectors. It would only prohibit certain transactions and not affect existing investments, but the curbs have sparked anger from Beijing, which views them as an effort to isolate and control China.
One likely deliverable from a Raimondo trip is a working group between her department and China’s commerce ministry to discuss US export controls aimed at preventing cutting-edge American technology from being used by China’s military, the people familiar with the planning said.
The Commerce Department’s Bureau of Industry and Security uses the controls to limit Beijing’s access to computer chips that it worries can be used to threaten US national security and American foreign policy interests. China has countered that the controls prevent its companies from competing fairly.
Raimondo is also in charge of promoting US exports to one of its top trade partners and implementing a $52 billion semiconductor investment plan to make the US less dependent chips from Asia, particularly Taiwan.
"At a high level, we need to do business with China wherever we can," Raimondo said at the event last week at the Wilson Center. "We need to promote wherever we can. But we need to protect where we must. I have a role to play in both of those."
On the export promotion side, one top issue is Boeing's stalled delivery of its 737 Max planes to Chinese airlines. China barred deliveries following two deadly crashes in 2019. There are signs that could change, Boeing CEO Dave Calhoun said on an earnings call last week without elaborating.
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“We’re getting a lot of good signs that they’ll resume delivery, but I’m not going to predict that for you,” he said.
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ORLANDO, Fla. (AP) — A legal advocacy group for journalists wants to get involved in Disney’s free speech lawsuit against Gov. Ron DeSantis. The Reporters Committee for Freedom of the Press says a win by the Florida governor could embolden other governments across the U.S. to take actions against journalists and other media when they exercise their First Amendment rights.
The group on Friday asked a judge for permission to file a friend-of-the-court brief in support of the claims brought by Disney against DeSantis, his appointees to a special district board governing Disney World and a state economic development agency. The lawsuit claims the Florida governor violated the company’s free speech rights by taking control over the district in retaliation for Disney’s public opposition to the so-called “Don’t Say Gay” bill.
The committee said that the impact of a DeSantis win would be felt beyond the 39 square miles (101 square kilometers) of the Disney World property governed by the new appointees picked by the Florida governor to the governing district’s board.
“If Defendants prevail in this case, those on whose behalf the Reporters Committee for Freedom of the Press advocates will be first in the line of fire given the nature of reporting and the press’s role in our constitutional system,” the committee said in its request to file the supporting brief in federal court in Tallahassee. “As such, the Reporters Committee for Freedom of the Press’s proposed brief provides a voice to those not directly involved, but undoubtedly impacted by this case.”
DeSantis and Florida’s Department of Economic Opportunity have argued that Disney’s case should be dismissed because of sovereign immunity protection against being sued for conducting government business, and that Disney hasn’t shown how it has been hurt so it lacks standing to sue the state government defendants.
DeSantis has used the fight with Disney to burnish his “anti-woke” credentials and demonstrate his ability to push a conservative agenda during his campaign for the 2024 GOP presidential nomination.
The DeSantis appointees took over the Disney World governing board earlier this year following a yearlong feud between the company and DeSantis. The fight began last year after Disney, beset by significant pressure internally and externally, publicly opposed a state law banning classroom lessons on sexual orientation and gender identity in early grades, a policy critics call “Don’t Say Gay.”
As punishment, DeSantis took over the district through legislation passed by Florida lawmakers and appointed a new board of supervisors to oversee municipal services for the sprawling theme parks and hotels.
If the retaliatory actions by DeSantis and Republican lawmakers are left unchecked, it poses a threat to watchdog journalism and press coverage of public issues “to the detriment to the free flow of information on matters of public concern that has long been the hallmark of our democratic system of government,” the committee said.
Before the new board came in, Disney made agreements with previous oversight board members who were Disney supporters that stripped the new supervisors of their authority over design and development. The DeSantis-appointed members of the governing district have sued Disney in state court in a second lawsuit stemming from the district’s takeover, seeking to invalidate those agreements.
Disney had asked for the case be dismissed or delayed pending the outcome of the federal lawsuit. However, Circuit Judge Margaret Schreiber in Orlando on Friday refused to toss or postpone the case, saying among other reasons that to do so would have created “an undue delay” for the district, which still must continue governing. ___
Follow Mike Schneider on Twitter at @MikeSchneiderAP
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BLACKSBURG, Va. – Experts from Virginia Tech said anything less than 5 percent could allow dangerous bacteria to grow and spoil the canned vegetables.
Professionals said it does not matter which vinegar you use, as long as it has 5% acidity.
Lester Shonberger, associate extension specialist at Virginia Tech, said it’s important to use the accurate amount and concentration when preserving food items.
“The recipes are designed to use a specific amount of vinegar at a specific concentration,” said Shonberger. “So, if you say have 4% vinegar in your pantry and you want to use it for your canning, my recommendation would be to not use that and use some other use for it because you won’t know the specific concentration and quantity.”
Shonberger said if you have any questions on the preservation process, you can visit your local food cooperative extension’s website to learn more.
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Biden has decided to keep Space Command in Colorado, rejecting move to Alabama, officials tell AP
WASHINGTON (AP) — President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama and ending months of politically fueled debate, according to senior U.S. officials.
The officials said Biden was convinced by the head of Space Command, Gen. James Dickinson, who argued that moving his headquarters now would jeopardize military readiness. Dickinson’s view, however, was in contrast to Air Force leadership, who studied the issue at length and determined that relocating to Huntsville, Alabama, was the right move.
The officials spoke on condition of anonymity to discuss the decision ahead of the announcement.
The president, they said, believes that keeping the command in Colorado Springs would avoid a disruption in readiness that the move would cause, particularly as the U.S. races to compete with China in space. And they said Biden firmly believes that maintaining stability will help the military be better able to respond in space over the next decade. Those factors, they said, outweighed what the president believed would be any minor benefits of moving to Alabama.
Biden’s decision is sure to enrage Alabama lawmakers and fuel accusations that abortion politics played a role in the choice. The location debate has become entangled in the ongoing battle between Alabama Republican Sen. Tommy Tuberville and the Defense Department over the move to provide travel for troops seeking reproductive health care. Tuberville opposed the policy is blocking hundreds of military promotions in protest.
The U.S. officials said the abortion issue had no effect at all on Biden’s decision. And they said the president fully expected there would be different views on the matter within the Defense Department.
Formally created in August 2019, the command was temporarily based in Colorado, and Air Force and Space Force leaders initially recommended it stay there. In the final days of his presidency Donald Trump decided it should be based in Huntsville.
The change triggered a number of reviews.
Proponents of keeping the command in Colorado have argued that moving it to Huntsville and creating a new headquarters would set back its progress at a time it needs to move quickly to be positioned to match China’s military space rise. And Colorado Springs is also home to the Air Force Academy, which now graduates Space Force guardians, and more than 24 military space missions, including three Space Force bases.
Officials also argued that any new headquarters in Alabama would not be completed until sometime after 2030, forcing a lengthy transition.
Huntsville, however, scored higher than Colorado Springs in a Government Accountability Office assessment of potential locations and has long been a home to some of earliest missiles used in the nation’s space programs, including the Saturn V rocket. It is home to the Army’s Space and Missile Defense Command.
According to officials, Air Force Secretary Frank Kendall, who ordered his own review of the matter, leaned toward Huntsville, while Dickinson was staunchly in favor of staying put. The officials said Defense Secretary Lloyd Austin presented both options to Biden.
The decision was good news for Colorado lawmakers.
“For two and a half years we’ve known any objective analysis of this basing decision would reach the same conclusion we did, that Peterson Space Force Base is the best home for Space Command,” Sen. John Hickenlooper, D-Colo., said in a statement. “Most importantly, this decision firmly rejects the idea that politics — instead of national security — should determine basing decisions central to our national security.”
Sen. Michael Bennet, D-Colo., said the decision “restores integrity to the Pentagon’s basing process and sends a strong message that national security and the readiness of our Armed Forces drive our military decisions.”
Copyright 2023 The Associated Press. All rights reserved.
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SEATTLE, July 31, 2023 /PRNewswire/ -- Seabourn, the leader in ultra-luxury voyages and expedition travel, took delivery of its second expedition ship, Seabourn Pursuit, today during an official handover maritime ceremony at the T. Mariotti shipyard in Genoa, Italy. Seabourn Pursuit is the company's second purpose-built, ultra-luxury expedition ship and the newest expedition ship in the industry.
"I am honored to share this incredible moment with the entire Seabourn family as we welcome Seabourn Pursuit, our highly anticipated second ultra-luxury expedition ship, into our fleet," expressed Natalya Leahy, Seabourn President. "With remarkable craftsmanship by the Mariotti team, an abundance of space, and the breathtaking style of Tihany Design, Seabourn Pursuit raises the bar for ultra-luxury expedition travel. We are grateful to Mariotti and Tihany Design for their expertise in shaping and making our dream come true for our guests."
Leahy added that the state-of-the-art Seabourn Pursuit will provide the perfect combination of luxury and expedition. "Seabourn Pursuit offers the best of both worlds: our well-known signature luxury and elegance with the world of exploration and adventure. The ship is masterfully designed for our guests, who are extraordinary people looking for out of the ordinary experiences. Our guests will indulge in Seabourn's ultra-luxury style and enjoy our intuitive, personalized service, while the ship takes them to awe-inspiring destinations around the world that only few will ever visit in a lifetime."
"Today, one year after the delivery of Seabourn Venture, we are very happy to have completed and delivered her sister ship, Seabourn Pursuit," said Marco Ghiglione, Managing Director of T. Mariotti. "We are truly proud to have built the most outstanding ultra-luxury expedition ship for Seabourn, one of the leading cruise lines in the luxury market. This is another important masterpiece for Italian shipbuilding coming out of T. Mariotti shipyard, demonstrating again that our leadership in this sector is well consolidated. Thanks to Seabourn, all people involved in this journey, Lloyd's Register and the pencil of Adam Tihany, here is the new expedition jewel."
Seabourn Pursuit offers the same luxurious "yacht like" small ship experience that travelers have come to expect from Seabourn, enhanced by world-class equipment that allows the line to offer its widest range of expedition activities led by an expert 24-person expedition team of scientists, scholars, naturalists, and more. Seabourn Pursuit is designed and built for remote, diverse environments to PC6 Polar Class standards and will include a plethora of modern hardware and technology that will extend the ship's global deployment and capabilities. Seabourn Pursuit has close to 30,000 square feet of deck space and special touches at every turn. Those include indoor and outdoor guest areas with nearly 270-degree views, and a 4K GSS Cineflex Camera mounted on the mast of the Constellation Lounge capable of broadcasting imagery from miles ahead on monitors located throughout the ship and in guest suites.
In addition, Seabourn Pursuit, like the rest of the ships in the Seabourn fleet, offers an abundance of space and elegance, eight dining facilities serving gourmet cuisine, and luxurious all-suite accommodations, including a pair of two-level Wintergarden suites.
Seabourn Pursuit is scheduled to enter service August 12, 2023, and will sail five voyages in the Mediterranean before embarking on two voyages across the Atlantic and through the Caribbean. On October 10, 2023, the ship will arrive in Barbados to begin its expedition journeys, taking guests to remote corners of the globe. Seabourn Pursuit will head south for expeditions exploring coastal South America, the Amazon, and Antarctica into late March 2024.
Following its inaugural Antarctic season, the ship will head across the islands of the South Pacific and eventually to Australia, which will be the start of the line's first exploration of the Kimberley region in the Northern Territory and Western Australia between June and August 2024. The iconic Kimberley, with its red sandstone gorges, rivers, waterfalls, wildlife, and Aboriginal life and history, is the ideal setting for a truly, world-class expedition experience. In addition to the Kimberley, Seabourn Pursuit will visit Papua New Guinea, West Papua, Indonesia, and sail across the South Pacific between Chile and Melanesia between March and October 2024.
For more details about Seabourn, or to explore the worldwide selection of Seabourn cruising options, contact a professional travel advisor, call Seabourn at 1-800-929-9391 or visit www.seabourn.com.
About Seabourn:
Seabourn represents the pinnacle of ultra-luxury ocean and expedition travel and operates a suite of six modern ships with one under construction. The all-inclusive, boutique ships offer all-suite accommodations with oceanfront views; award-winning dining; complimentary premium spirits and fine wines available at all times; renowned service provided by an industry-leading crew; a relaxed, sociable atmosphere that makes guests feel at home; a pedigree in expedition travel through the Ventures by Seabourn program and two new ultra-luxury purpose-built expedition ships, including Seabourn Venture that launched in 2022 and Seabourn Pursuit scheduled to enter service in 2023. Seabourn takes travelers to every continent on the globe, visiting more than 400 ports including marquee cities and lesser-known ports and hideaways. Guests of Seabourn experience extraordinary offerings and programs, including partnerships with leading entertainers, dining, personal health and wellbeing, and engaging speakers.
For more details about Seabourn, or to explore the worldwide selection of Seabourn cruising options, contact a professional travel advisor, call Seabourn at 1-800-929-9391 or visit www.seabourn.com.
Seabourn is a brand of Carnival Corporation and plc (NYSE/LSE: CCL and NYSE: CUK).
Find Seabourn on Twitter, Facebook, Instagram, YouTube and Pinterest.
Notes to Editors:
Seabourn is consistently ranked among the world's top travel choices by professional critics and the discerning readers of prestigious travel publications such as Departures, Travel + Leisure and Condé Nast Traveler. Its stylish, distinctive cruising vacations are renowned for:
- Purpose-built expedition ships, PC6 ice-strengthened hull, with advanced maneuvering technology for superior stability, safety, and comfort
- World-class Expedition Team, delivering immersive experiences
- All veranda, all ocean-front suites luxuriously appointed
- Handcrafted itineraries developed for the expedition traveler to the most coveted and familiar remote destinations in the world
- Intimate ships with a private club atmosphere
- Intuitive, personalized service provided by staff passionate about exceeding guests' expectations
- Inclusive expedition experiences with Zodiacs, scuba diving and snorkeling
- Optional expedition experiences with kayaks and custom-built, 6-guest submarines giving the option to extend your expedition further for greater ocean exploration**
- Welcome toast and complimentary in-suite bar stocked with your preferences
- Hosted bridge policy* with Expedition team members providing firsthand access to the ship's command center and officers navigating your journey
- World-class dining venues are all complimentary, dine where, when and with whom you wish
- Tipping is neither required, nor expected
- Complimentary premium spirits and fine wines available on board at all times
- Meticulous and purposeful adventurers' resort at sea designed for the luxury traveler with unique attributes and spaces to enhance your experience
- Spa & Wellness with Dr. Andrew Weil, featuring an exclusive mindful living program**
- Committed to environmental stewardship and sustainability
*At the Captain's discretion
** Optional programs, for additional charge
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DENVER, July 31, 2023 /PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR) today announced that it was selected by the Defense Information Systems Agency (DISA) to support coordination between federal and commercial licensees of the 3450 - 3550 MHz spectrum band. Palantir will provide its software platform to enable end-to-end automation that will enhance coordination between the Department of Defense and commercial spectrum licensees for shared use of the 3450-3550 MHz band within cooperative planning area (CPA) and periodic use area (PUA) coordination zone boundaries.
As part of an ongoing interagency effort to facilitate the shared usage of critically important mid-band spectrum, Palantir's software will enable DISA's Defense Spectrum Organization (DSO) to support formal and informal coordination processes between the Department of Defense and commercial licensees. Existing and future government activities in the spectrum band are vital to protect national security and ensure military readiness.
Palantir software will be used to integrate multiple existing functions and capabilities into a single infrastructure that will result in more efficient workflows, reducing the timelines for licensee coordination with DoD to establish sharing agreements and enable deployment of 5G wireless services within CPA/PUA boundaries. Palantir software will also be used to demonstrate the ability to support more advanced spectrum sharing use cases.
"We are proud to partner with DISA DSO to support the complex task of sharing limited spectrum resources between federal and commercial users," said Akash Jain, President, Palantir USG. "We are excited to rapidly deploy software that will accelerate and automate coordination workflows and enable the increasingly dynamic and efficient use of spectrum."
"As military and commercial use of radio-frequency spectrum continues to grow, spectrum coordination will be increasingly necessary to preserve the effectiveness of critical national security capabilities while enabling U.S. commercial leadership in 5G and other critical technology areas. Palantir looks forward to working alongside the Department of Defense to deploy innovative software solutions that support advanced spectrum sharing workflows and processes," said Miriam Marwick, SVP, Emerging Technologies, Palantir USG.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Media Contact
Lisa Gordon
media@palantir.com
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Get an inside look at John Carlin’s trip to Eagle Pass as part of 10 News’ On the Frontline coverage.
“And as I stood there, watching migrants cross the river, running for their lives and from their previous lives, it is easy to see all the sides. The answers are not so clear.
John Carlin has made his way back to Roanoke, Virginia after his On the Frontline coverage at the U.S.-Mexico border.
You can find his blog posts, videos, and more by clicking here.
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The Fitness Superstore to Exclusively Carry the REP Line
DENVER, July 31, 2023 /PRNewswire/ -- Home and commercial gyms in the United Kingdom and Ireland are about to level up.
One of the USA's top gym equipment brands has joined forces with the UK's largest speciality fitness retailer. Starting this summer, Bodypower Sports Ltd. (trading as Fitness Superstore) will carry a large range of REP Fitness equipment. This expansion was in response to a growing demand overseas, after REP took the US by storm. It kicks off the launch of REP products throughout all of Europe, so more people can have access to REP's versatile, quality, innovative equipment.
REP, founded a decade ago in Colorado by two gym-loving brothers, has risen to become America's most popular brand in the home gym market. It offers a full line of gym gear, all designed by in-house, weightlifting engineers for both commercial and home gyms.
REP's award-winning power racks, benches, functional training gyms, and more will soon be available for UK customers to try out and order in Fitness Superstore showrooms across the UK (11 stores). Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Fitness Superstore will also carry REP on its website, to be delivered throughout the UK and Ireland.
"Fitness Superstore is proud to exclusively represent this fantastic and innovative brand in the UK," says Paul Walker, Fitness Superstore managing director and owner.
Ryan McGrotty, co-founder or REP, echoes that. He says Fitness Superstore and REP make a great partnership because both are staffed by real-life fitness enthusiasts and professionals; they both offer a full range of equipment, and they both value creating community and making fitness accessible to all.
"We're excited to be working with such a strong partner in the UK with Fitness Superstore. We know they will offer a great shopping experience for all our fans in the UK who have been eagerly awaiting the availability of our products," says McGrotty. "Their broad store footprint will make it convenient for everyone to easily see and test our products before taking them home.
ABOUT REP
REP Fitness designs and sells world-class, innovative strength equipment that is sold around the world. REP was founded in Colorado in 2012 by two brothers with a shared passion for fitness and has grown into more than 300,000 square feet of office and distribution space and a team of more than 150 dedicated fitness enthusiasts. That shared passion for fitness is what drives REP's innovative spirit, where creating class-leading fitness equipment, with an emphasis on incredible home gyms, is paramount.
REP has been listed twice on the Inc. 5,000 fastest-growing companies — in 2018 and in 2021. REP products are frequently listed as top choices in many fitness publications, such as Men's Health.
For more information, visit repfitness.com. Connect with REP on Instagram, YouTube, Facebook, TikTok, and LinkedIn.
ABOUT FITNESS SUPERSTORE
Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Learn more at fitness-superstore.co.uk. You can also connect with Fitness Superstore on Facebook, Instagram, YouTube, and TikTok.
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Buttigieg touts progress in goal for half of new car sales to be electric vehicles
WASHINGTON (Gray DC) - Following an announcement of private investment plan for 30,000 new electric vehicle chargers across the United States, Transportation Secretary Pete Buttigieg said government investment has paved the way private companies to produce more electric cars.
“Federal investment to try and make up the difference where markets are still getting ready, and then the private sector, private industry, needs to do the rest,” Buttigieg said.
Leading global electric vehicle manufacturers, including Ford, General Motors and BMW have joined together to build 30,000 electric vehicle chargers across the country.
“When you fill up your gas car with gas you’re counting on private companies to set up for that,” Buttigieg said. “We really need private industry to play more of a roll in investing in and running these electric vehicle charging stations.”
The government has set aside $7.5 billion for states to create their own networks of EV chargers, but the Biden administration wants to guarantee things like price transparency, and guaranteeing a charger from one company works for another company’s vehicles.
“They are going to meet standards that we have set, and they’ll have to in order to qualify for federal support.”
Buttigieg said if the U.S. does not take the lead on electric vehicles, someone else will.
“There is a race, whether people realize it or not,” Buttigieg said. “Where in the middle of a heated race to win the future of electric vehicles.”
The federal money for EV charging networks comes from the Bipartisan Infrastructure Law passed in 2021.
Copyright 2023 Gray DC. All rights reserved.
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SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended July 1, 2023 and outlook for its fiscal fourth quarter ending September 30, 2023.
"Our third quarter results were in line with our outlook. We continue to execute well and deliver consistent operating margins and solid cash generation," stated Jure Sola, Chairman and Chief Executive Officer. "Our strong performance in the first nine months and achievement of our outlook for the fourth quarter would result in fiscal 2023 revenue growth of approximately 14 percent and non-GAAP EPS growth of approximately 35 percent. The team remains focused on excellence in quality, delivery and consistently meeting the needs of our customers. We have a strong foundation and promising future," Sola concluded.
Fourth Quarter Fiscal 2023 Outlook
The following outlook is for the fiscal fourth quarter ending September 30, 2023. These statements are forward-looking and actual results may differ materially.
- Revenue between $2.1 billion to $2.2 billion
- GAAP diluted earnings per share between $1.24 to $1.34
- Non-GAAP diluted earnings per share between $1.47 to $1.57
Safe Harbor Statement
The statements above concerning our financial outlook for the fourth quarter fiscal 2023 and our expectations for growth in revenue and non-GAAP earnings per share in fiscal 2023 should such outlook be achieved, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, most notably ongoing supply chain constraints and geopolitical uncertainty, including from the conflict in Ukraine. Other factors that could cause our results to differ from our forward-looking statements include adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; and the other risk factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission.
The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.
Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the third quarter and outlook for the fourth quarter of fiscal 2023 on Monday, July 31, 2023 at 5:30 p.m. ET (2:30 p.m. PT). The access numbers are: domestic 833-816-1390 and international 412-317-0483. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q3 Webcast Link. Additional information in the form of a slide presentation is available on Sanmina's website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 877-344-7529 and international 412-317-0088, access code is 1520057.
About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.
Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610
Schedule 1
The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income, diluted earnings per share and pre-tax return on invested capital (ROIC). Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.
Management excludes these items principally because such charges or benefits are not directly related to the Company's ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company's operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company's strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management's approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company's liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company's performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.
Additional information regarding the economic substance of each exclusion, management's use of the resultant non-GAAP measures, the material limitations of management's approach and management's methods for compensating for such limitations is provided below.
Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company's results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company's core results with those of its competitors.
Restructuring, Acquisition and Integration Expenses, which consist of severance, lease termination costs, exit costs, environmental investigation, remediation and related costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company's competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company's core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company's competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Therefore, management also reviews GAAP results including these amounts.
Impairment Charges, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company's liquidity. In addition, given the fact that the Company's competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors.
Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company's liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors because the Company's competitors complete acquisitions at different times and for different amounts than the Company.
Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, gains and losses on sales of assets, deferred tax adjustments and discrete tax items, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company's ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company's competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.
Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company's core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.
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High prices ‘disproportionately pinching’ younger Americans, data shows
30% of Gen Z, 28% of millennials have no emergency savings
(InvestigateTV) — More than seven in 10 younger Americans are saving less because of inflation when compared to Gen X and baby boomers, a recent Bankrate.com survey found.
Sarah Foster is a principal writer for Bankrate.com. She said this is a time for younger Americans to be very mindful of how much they are spending and to hyper analyze their budgets.
Foster said the ultimate goal for Gen Z and millennials should be to make sure they are living within their means. She added there are several advantages to being young right now, especially when it comes to retirement contributions.
“Really the best way to gain wealth and beat inflation in the long run is to make sure that you’re holding a diverse portfolio of assets, including stocks,” Foster explained. “And so, we know that even if someone were to stop investing for three years because of inflation and they’re in their mid-twenties, they’d leave almost $200,000 on the table by the time they were 70.”
Foster said don’t stop retirement contributions during inflation. The amount can be reduced, but consistent contributions is key.
She said another reason younger Americans are being hit hard is they are early in their careers and haven’t reached their peak earnings.
Foster advised them to put any raises or extra money in savings or retirement accounts.
Bankrate has 11 tips for young Americans trying to reach financial goals during high inflation, including:
- Look for high-yield savings accounts that offer much better returns that traditional accounts
- Automate savings to build an emergency fund
- Wait 24 hours before any unnecessary purchases
Copyright 2023 Gray Media Group, Inc. All rights reserved.
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EAGLE PASS, Texas – Get an inside look at John Carlin’s trip to Eagle Pass as part of 10 News’ On the Frontline coverage.
See John’s photos from the border by clicking here.
Thursday, July 27
There are two sides to the Rio Grande River, but many sides to the arguments and sentiments surrounding the migrants who want to cross from Mexico into the United States along the Texas border.
And as I stood there, watching migrants cross the river, running for their lives and from their previous lives, it is easy to see all the sides. The answers are not so clear.
I can see how the migrants, who tell us they have been beaten and robbed, and sexually assaulted as they made their way across Mexico, want to get into the United States. They have fled terrible conditions in their native Central and South American countries like Honduras and Venezuela.
But they come in such numbers, that I can see how the state of Texas and the federal government need to find a way to control the way they come across the border.
Officials tell me they have to make it difficult, or there would be too many to take in. So authorities make them walk in the Rio Grande River.
A lot of migrants do this. They must believe it is worth it.
Human trafficking is real and it needs to be intercepted. Lone drug dealers are harder to see, but all of the troops we’ve been talking to on the frontlines say they are there, trying to bring fentanyl into the United States, as well as other illegal drugs.
They are often posing as members of seemingly harmless families with young children wading along the river. All of them, innocent and criminal - pushing toward the U.S. with swirls of concertina wire or “c-wire” always to their left as they slog downstream with the current of the stinky Rio Grande which often smells like sewage.
They are looking for a weakness in the defenses built by Texas authorities. Many will cut the wire and sneak through. Others will wrap extra clothing around the sharp parts to shield their bodies as they crawl through the coils.
It’s a constant game of cat and mouse along this roughly 8-mile stretch of river at Eagle Pass, Texas.
What we have done and seen
Yesterday we patrolled with the Guard from mid-morning until 10 p.m. We saw a lot. More than 100 migrants trying to cross, under the watchful eyes of the troops.
In the middle of the day, temps reached over 100 degrees. Down here in July, that’s just another day that ends in Y. Yet, it’s been record-breaking heat.
For us, the troops and the migrants, it’s no joke. This weather is dangerous - the summer version of 20 below - and everyone is aware of it.
One group of migrants came up against the C-wire, with national guardsmen on the other side. It was a family. They were hot. Troops tossed them water bottles. But they refused them entry, even though one woman told them she had cancer and seemed to have documentation to prove it. She pushed papers through the wire with tear-filled eyes so the soldiers would take her seriously. They did. To a point.
They said she could come through, but the rest of the family could not.
[MORE: 10 News on the frontline with the Virginia National Guard at the U.S.-Mexico border]
She opted to stay with her family, and they returned to the river.
At dusk on our first day, a group of about three dozen migrants rushed the customs station at Eagle Pass. They hoped to overtake customs and flee into the US. But a massive presence of law enforcement and military personnel turned them back.
They fled into the river. Some at a full run escaping Mexican authorities and some bad actors known as coyotes who threatened to rob them, after promising to bring them safely to the border crossing for what we were told was $100 per person per day.
On the U.S. side of the river, migrants screamed at us in Spanish saying they had been beaten and robbed and the women had been sexually assaulted.
It was terrible to see and hear — but a story almost as common as the heat. The troops watched them walk in the river or on paths beside the water. But the migrants were not allowed to breach the coils.
We followed the group downriver for a while, but they stopped to rest, and we moved on.
It’s likely they eventually waded downstream about 5 miles and were taken by U. S. Border Patrol agents for processing. After that, their path forward becomes a murky story to tell and likely beyond the scope of this assignment.
These things are difficult to watch
I heard of other atrocities and real human drama. Problems that are not first-world problems.
But I also saw professional soldiers from the Virginia National Guard and others who were there to assist Texas. Many shared their compassion for the migrants but asserted that their job was to deter them from crossing into the U.S. at random places. To encourage them to go to legal border crossings.
Guardsmen and DPS from Texas were posted every few hundred yards along the river.
4WD vehicles navigate the lone bumpy, dusty road. They often get stuck in the deep sand.
It’s always dusty. The kind that makes the air almost unbreathable for a few seconds every time a vehicle passes. And they pass constantly.
The reservists are in full military uniforms, carrying M-4 rifles, sweating, and telling people, obviously in need of a bit of compassion that they cannot pass into the United States.
My take is that they were not short of empathy, but that they had a job to do and they were doing it.
We didn’t see any violence but heard stories of our patrols having guns waved at them from the river by criminals who don’t want to take no for an answer.
10 News photographer Jeff Perzan and I never felt in danger. But maybe we should have.
The many sides
All of this is part of Operation Lone Star, initiated by Texas Governor Greg Abbott, in March of 2021. His side is that he has the right to control his state’s border. The Biden Administrations’ position is that he does not, and is suing Texas for using floating buoys as a means of discouraging crossing.
Those patrolling the border say the buoys are working and that fewer people have come across since their installation along about 1,000 feet of river, at what was a popular crossing spot.
The Texas side is that people are coming in such large numbers, that there must be a way to control them. Some of those people are drug dealers and human traffickers who must be intercepted whenever possible. Others have criminal records in their native countries for things like murder. They too must be sorted.
The migrants’ side is many versions of the same story. They had to leave their native countries. For bad conditions. Political persecutions. Cartel shakedowns.
They need a place to go, and the United States is their best option. Maybe their only option. It’s not like they arrive in Mexico and decide to stay there. No. They keep coming.
One man told me he would have been executed for political transgressions if he stayed in Venezuela. He brought his family with just the clothes on their backs. They had some money and personal possessions, but they tell me the cartels, coyotes and even the Mexican police robbed them. When I asked if they attacked the women I received immediate responses that, yes they had. The women saying “Si. Si.” and solemnly nodding their heads.
Their side of the story is that they need help. It seems like they should be helped. People who sympathize with their plight use words like inhumane to describe the way Texas is treating them. My reporting has received many comments to the effect that the U.S. must be nicer to these people.
Then there are the people manning the border. They stand in the heat, with their guns in their full combat uniforms including bulletproof plates inside their fatigues.
The Virginia National Guard is there on loan. 100 people for 30 days. Their mission is pretty simple. Stand behind the wire and look tough. Give the Texas troops a bit of a break. They are to deter people from coming across the border anyplace except where border patrol agents can take them in.
These troops are there on a mission. No matter their individual level of compassion, they have their orders. “We’re not monsters” one member of the Texas National Guard told me, as his crew installed new coils of c-wire. “We only want to deter people from trying to cross.”
To do that, they must make it as hard as possible for migrants to climb out of the river and try to penetrate the wire.
Like most people, they miss their day-to-day life back home where they have families and regular jobs. They are anxious to get out of the heat and for the mission to end.
All of this is mixed up in politics. In a nutshell, the Republican side is more or less that they want to be tough on the border. Democrats essentially want to be more compassionate and make it easier for migrants to enter.
If you want to see where someone stands, just ask them which party they belong to.
When you get down to it, the two most important sides are Abbott and Biden.
Where there is now a lawsuit over Texas’ right to restrict its border, which also happened to be the U. S. border.
There are all sorts of legal statutes being thrown around on both sides. Now it will be up to the courts to decide who is right.
My job is not to take a side. Using the river as my metaphor, with only two embankments - or sides, there is the swirling current in the middle. Where everything mixes. Where need, politics, power, crime, and compassion create a never-ending series of eddies and cross currents, that make these waters difficult to navigate.
From my perspective in the heat, and among the dusting from passing vehicles, and my eyes on people carrying children in that nasty river, it isn’t easy for anyone.
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Country singer Craig Morgan reenlists in military while on Grand Ole Opry stage
NASHVILLE, Tenn. (Gray News) – Country singer Craig Morgan reenlisted in the military Saturday night while on stage at the Grand Ole Opry in hopes of encouraging others to enlist.
According to a news release, Morgan was sworn into the U.S. Army Reserve on stage by U.S. Army Forces Command Gen. Andrew Poppas.
Sen. Marsha Blackburn joined them on stage.
After the ceremony, Morgan returned to the microphone to perform his song “Soldier.”
Morgan previously served in the Army for 17 years, with certifications including Airborne, Air Assault and Rappel Master.
“I’m excited to once again serve my country and be all I can be in hopes of encouraging others to be a part of something greater than ourselves,” Morgan said in a news release. “I love being an artist, but I consider it a true privilege and honor to work with what I believe are the greatest of Americans, my fellow soldiers. God Bless America. Go Army.”
Morgan plans to continue touring and releasing new music while serving in the Army Reserve.
The 59-year-old singer is known to frequently perform at military bases both in the U.S. and abroad. In 2006, Morgan was awarded the USO Merit Award for his support.
Morgan began his music career in 2000. He is best known for his No. 1 single “That’s What I Love About Sunday” from 2004.
He was inducted as a member of the Grand Ole Opry in 2008.
Copyright 2023 Gray Media Group, Inc. All rights reserved.
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Boston police on Monday identified a suspect who remains at large in the July 18 hit-and-run crash in Hyde Park that killed a 4-year-old boy.
Olguens Joseph is being sought on an arrest warrant issued out of West Roxbury Municipal Court charging him with motor vehicle homicide by negligent operation, leaving the scene of personal injury and death, and operation of an unregistered/uninsured motor vehicle stemming from the tragedy, police said in a statement.
It did not indicate how police identified Joseph as the person allegedly behind the wheel at the time of the crash, which occurred around 9:30 p.m. on the night in question near 165 Wood Ave.
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Previously, police had released a video of the car that allegedly struck and killed the child, Ivan Pierre. The nine-second video shows the vehicle running a stop sign at the corner of Wood Avenue and Safford Street in the moments before Ivan was killed near his family’s home.
The intersection is less than 500 feet from the house.
The child’s uncle said after the crash that the family was gathered out on the porch looking at Ivan’s mother’s new car. Ivan walked away, unbeknownst to family, and was hit shortly after.
“I think that’s when my nephew snuck out,” said his uncle Heroldy Limage. “Nobody really saw what he did. And next thing, there was an impact everyone heard outside.”
The family rushed to the street and saw Ivan in the road. An off-duty firefighter jumped in to assist and emergency responders took Ivan to the hospital, where he was later pronounced dead.
Through his grief, Limage had urged the driver to come forward as he remembered his nephew, whom he called the “life of the party.”
Boston police Superintendent-in-Chief Gregory Long had said at the crash scene that the driver “did not stop and fled the area” after hitting the boy.
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“Obviously, this is an extremely tragic situation this evening,” Long said. “Our thoughts and prayers go out to this child, this child’s family, and this community that unfortunately has experienced this traumatic event.”
An obituary for Ivan said he was born in Boston in September 2018.
The notice, posted to the Dolan Funeral Homes & Cremation Services website, said Ivan is survived by “his mom and dad Ruthchelle Limage and Vladmir Pierre; sisters Nitchrhode and Avaleenah,” and many other relatives both in the US and Haiti.
Anyone with information on the case or on Joseph’s whereabouts is urged to call BPD homicide detectives at 617-343-4470. Members of the public can also contact the department’s anonymous tip line by calling 1-800-494-TIPS or by texting the word ‘TIP’ to CRIME (27463).
Material from prior Globe stories was used in this report. This story will be updated when more information is released.
Travis Andersen can be reached at travis.andersen@globe.com.
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SEATTLE, July 31, 2023 /PRNewswire/ -- Seabourn, the leader in ultra-luxury voyages and expedition travel, took delivery of its second expedition ship, Seabourn Pursuit, today during an official handover maritime ceremony at the T. Mariotti shipyard in Genoa, Italy. Seabourn Pursuit is the company's second purpose-built, ultra-luxury expedition ship and the newest expedition ship in the industry.
"I am honored to share this incredible moment with the entire Seabourn family as we welcome Seabourn Pursuit, our highly anticipated second ultra-luxury expedition ship, into our fleet," expressed Natalya Leahy, Seabourn President. "With remarkable craftsmanship by the Mariotti team, an abundance of space, and the breathtaking style of Tihany Design, Seabourn Pursuit raises the bar for ultra-luxury expedition travel. We are grateful to Mariotti and Tihany Design for their expertise in shaping and making our dream come true for our guests."
Leahy added that the state-of-the-art Seabourn Pursuit will provide the perfect combination of luxury and expedition. "Seabourn Pursuit offers the best of both worlds: our well-known signature luxury and elegance with the world of exploration and adventure. The ship is masterfully designed for our guests, who are extraordinary people looking for out of the ordinary experiences. Our guests will indulge in Seabourn's ultra-luxury style and enjoy our intuitive, personalized service, while the ship takes them to awe-inspiring destinations around the world that only few will ever visit in a lifetime."
"Today, one year after the delivery of Seabourn Venture, we are very happy to have completed and delivered her sister ship, Seabourn Pursuit," said Marco Ghiglione, Managing Director of T. Mariotti. "We are truly proud to have built the most outstanding ultra-luxury expedition ship for Seabourn, one of the leading cruise lines in the luxury market. This is another important masterpiece for Italian shipbuilding coming out of T. Mariotti shipyard, demonstrating again that our leadership in this sector is well consolidated. Thanks to Seabourn, all people involved in this journey, Lloyd's Register and the pencil of Adam Tihany, here is the new expedition jewel."
Seabourn Pursuit offers the same luxurious "yacht like" small ship experience that travelers have come to expect from Seabourn, enhanced by world-class equipment that allows the line to offer its widest range of expedition activities led by an expert 24-person expedition team of scientists, scholars, naturalists, and more. Seabourn Pursuit is designed and built for remote, diverse environments to PC6 Polar Class standards and will include a plethora of modern hardware and technology that will extend the ship's global deployment and capabilities. Seabourn Pursuit has close to 30,000 square feet of deck space and special touches at every turn. Those include indoor and outdoor guest areas with nearly 270-degree views, and a 4K GSS Cineflex Camera mounted on the mast of the Constellation Lounge capable of broadcasting imagery from miles ahead on monitors located throughout the ship and in guest suites.
In addition, Seabourn Pursuit, like the rest of the ships in the Seabourn fleet, offers an abundance of space and elegance, eight dining facilities serving gourmet cuisine, and luxurious all-suite accommodations, including a pair of two-level Wintergarden suites.
Seabourn Pursuit is scheduled to enter service August 12, 2023, and will sail five voyages in the Mediterranean before embarking on two voyages across the Atlantic and through the Caribbean. On October 10, 2023, the ship will arrive in Barbados to begin its expedition journeys, taking guests to remote corners of the globe. Seabourn Pursuit will head south for expeditions exploring coastal South America, the Amazon, and Antarctica into late March 2024.
Following its inaugural Antarctic season, the ship will head across the islands of the South Pacific and eventually to Australia, which will be the start of the line's first exploration of the Kimberley region in the Northern Territory and Western Australia between June and August 2024. The iconic Kimberley, with its red sandstone gorges, rivers, waterfalls, wildlife, and Aboriginal life and history, is the ideal setting for a truly, world-class expedition experience. In addition to the Kimberley, Seabourn Pursuit will visit Papua New Guinea, West Papua, Indonesia, and sail across the South Pacific between Chile and Melanesia between March and October 2024.
For more details about Seabourn, or to explore the worldwide selection of Seabourn cruising options, contact a professional travel advisor, call Seabourn at 1-800-929-9391 or visit www.seabourn.com.
About Seabourn:
Seabourn represents the pinnacle of ultra-luxury ocean and expedition travel and operates a suite of six modern ships with one under construction. The all-inclusive, boutique ships offer all-suite accommodations with oceanfront views; award-winning dining; complimentary premium spirits and fine wines available at all times; renowned service provided by an industry-leading crew; a relaxed, sociable atmosphere that makes guests feel at home; a pedigree in expedition travel through the Ventures by Seabourn program and two new ultra-luxury purpose-built expedition ships, including Seabourn Venture that launched in 2022 and Seabourn Pursuit scheduled to enter service in 2023. Seabourn takes travelers to every continent on the globe, visiting more than 400 ports including marquee cities and lesser-known ports and hideaways. Guests of Seabourn experience extraordinary offerings and programs, including partnerships with leading entertainers, dining, personal health and wellbeing, and engaging speakers.
For more details about Seabourn, or to explore the worldwide selection of Seabourn cruising options, contact a professional travel advisor, call Seabourn at 1-800-929-9391 or visit www.seabourn.com.
Seabourn is a brand of Carnival Corporation and plc (NYSE/LSE: CCL and NYSE: CUK).
Find Seabourn on Twitter, Facebook, Instagram, YouTube and Pinterest.
Notes to Editors:
Seabourn is consistently ranked among the world's top travel choices by professional critics and the discerning readers of prestigious travel publications such as Departures, Travel + Leisure and Condé Nast Traveler. Its stylish, distinctive cruising vacations are renowned for:
- Purpose-built expedition ships, PC6 ice-strengthened hull, with advanced maneuvering technology for superior stability, safety, and comfort
- World-class Expedition Team, delivering immersive experiences
- All veranda, all ocean-front suites luxuriously appointed
- Handcrafted itineraries developed for the expedition traveler to the most coveted and familiar remote destinations in the world
- Intimate ships with a private club atmosphere
- Intuitive, personalized service provided by staff passionate about exceeding guests' expectations
- Inclusive expedition experiences with Zodiacs, scuba diving and snorkeling
- Optional expedition experiences with kayaks and custom-built, 6-guest submarines giving the option to extend your expedition further for greater ocean exploration**
- Welcome toast and complimentary in-suite bar stocked with your preferences
- Hosted bridge policy* with Expedition team members providing firsthand access to the ship's command center and officers navigating your journey
- World-class dining venues are all complimentary, dine where, when and with whom you wish
- Tipping is neither required, nor expected
- Complimentary premium spirits and fine wines available on board at all times
- Meticulous and purposeful adventurers' resort at sea designed for the luxury traveler with unique attributes and spaces to enhance your experience
- Spa & Wellness with Dr. Andrew Weil, featuring an exclusive mindful living program**
- Committed to environmental stewardship and sustainability
*At the Captain's discretion
** Optional programs, for additional charge
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Companies combine expertise to deliver innovative technology solutions for arenas, stadiums, convention and exhibition centers, and performing arts venues
TUCSON, Ariz., July 31, 2023 /PRNewswire/ -- Simpleview and ASM Global are pleased to announce a partnership created to provide a unified network of websites and technology solutions for the ASM Global portfolio of venues. The partnership was strategically designed to develop cohesive branding powered by a best-in-class technology stack and ticketing integrations that promote visitors and drive web conversions for arenas, stadiums, convention and exhibition centers, and performing arts venues.
Simpleview, a leading provider of CRM, CMS, and marketing solutions for destinations worldwide, and ASM Global, the world's leading venue management and services company, will serve the meetings and events ecosystem; by leveraging Simpleview's advanced technology and ASM Global's extensive global network, this partnership will enable clients to create captivating digital experiences that drive engagement and ticket sales and enhance venue marketing efforts.
Highlights of the partnership include:
- Enhanced Website Capabilities: a new generation of website solutions with state-of-the-art features and functionalities equipped with user-friendly content management systems, robust event and ticketing integrations, interactive mapping tools, and seamless integration with social media platforms
- Personalized Experiences: clients can deliver tailored content and offers to individual users, ensuring a highly personalized and engaging journey for every visitor
- Mobile-Optimized Design: prioritization of mobile optimization, ensuring that websites are fully accessible across all screen sizes and platforms
- Data-Driven Insights: comprehensive analytics and reporting gain insights into visitor behavior, marketing performance, and conversion rates so venues can make informed decisions and optimize marketing strategies effectively
"ASM Global is thrilled to work in partnership with Simpleview to create a cohesive, best-in-class website solution for our diverse global portfolio of stadiums, arenas, theaters, and convention centers," said Alex Merchán, chief marketing officer at ASM Global. "From the start of this relationship, Simpleview has impressed us with its tech stack, service offering, data-driven approach, and talented team. We look forward to building and scaling this partnership in the years ahead."
About Simpleview
Simpleview is a worldwide leading provider of CRM, CMS, website design, digital marketing services, and data insights for convention bureaus, venues, tourism boards, destination marketing organizations (DMOs), and attractions. The company employs staff across the globe, serving clients of all sizes, including small towns, world capitals, top meeting destinations, and countries across multiple continents.
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BAYREUTH, Germany (AP) — Two years after the debut of the Bayreuth Festival’s first female conductor, Nathalie Stutzmann became the second to lead a Richard Wagner opera in the Festpielhaus’ famous covered pit.
The 58-year-old former contralto, fresh off her first season as Atlanta Symphony Orchestra music director, drew a luminous performance of “Tannhäuser” on Friday night in a revival of the Tobias Kratzer 2019 production — the one featuring the title character in a clown suit and a murder in a Burger King parking lot.
“It’s good news to be second,” Stutzmann said. “It proves that things are moving.”
Launched by Richard Wagner in 1876 and currently run by great-granddaughter Katharina Wagner, the festival broke its conductor gender barrier when Oksana Lyniv led a new staging of “Der Fliegende Holländer (The Flying Dutchman)” in 2021. The 45-year-old returned this summer to preside over the Dmitri Tcherniakov production for the third straight year.
“They are very highly accepted,” Katharina Wagner said. “I hope that this question would disappear with time, that we are just talking about good conductors and not female and male conductors anymore.”
Stutzmann’s year so far has also included debuts with the New York Philharmonic and the Metropolitan Opera, where she provoked the orchestra when she alleged in a New York Times interview that musicians were bored playing while not being able to see onstage activity. The orchestra criticized her in a statement, prompting Stutzmann to apologize.
At Bayreuth, conductors must adjust to a pit Richard Wagner designed to keep the orchestra hidden from the audience, arranged in nine rows that descend toward the stage: violins in the first two, followed by violas, cellos, double basses, woodwinds, brass and percussion. The instrumental sound mixes with voices before traveling out to 30 rows of seats and three tiers of boxes.
“I had done a lot of research, so I knew the experience would be new and unexpected and tricky,” Stutzmann said in a response to an emailed question. “We hear the sound completely different from what the audience hears, that’s why we have to rely on our assistants. … You hardly hear the singers on stage and they sound always late even when we are perfectly together!”
Stutzmann’s performance, using the original Dresden score, featured unusual clarity when the overture slowed and the volume lowered during a pilgrims’ chorus repeat in the overture. She was greeted with boisterous applause and foot-stomping during 14 minutes of curtain calls.
Stutzmann has been invited back to conduct the 2024 revival of the sold-out “Tannhäuser” staging, notorious for the director adding the drag queen Le Gateau Chocolat and dwarf actor Manni Laudenbach, who combine with the title character and the goddess Venus to form a counterculture clique Richard Wagner never could have envisioned for a work that premiered in 1845.
During an interview in New York before heading to Germany, Stutzmann said “Tannhäuser” was the perfect vehicle for her Bayreuth debut, given her quarter-century as a contralto and the opera’s full title, which translates to “Tannhäuser and the Minstrels’ Contest at Wartburg.”
She winked.
“It’s a singer competition, after all,” she said with a laugh.
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‘I’ll be able to walk again’: 6-year-old shot in road rage incident confident about her future
LOUISVILLE, Ky. (WAVE/Gray News) – A 6-year-old’s life may be changed forever after she was shot in the back during a road rage incident on July 10, but that’s not crushing the young girl’s spirit.
Onyx, 6, was in the car with her family when a road rage incident with a group of motorcyclists in Kentucky led to a shooting.
A bullet went through the girl’s back and she had to have emergency surgery.
Onyx has been recovering since and may never walk again. Being in a wheelchair is her new reality.
“I really liked going through the hallways to test it out,” Onyx said, talking about her wheelchair. “I wanted to do it again and then I did.”
The 6-year-old who just wants to dance and play is finding comfort in doing donuts in her wheelchair.
Onyx said she remembers leaving the park on July 10, getting in the car and the moment when she was shot.
“I remember getting carried into the hospital,” she recalled.
Those chain of events left Onyx’s mother, Chyna Sands, with the task of telling her daughter her new reality.
Sands said she told Onyx the bullet severed her back and she can’t use her legs like she used to – a conversation that is still setting in for the young girl.
She’s had to explain to Onyx that she must be in a wheelchair because she can’t walk.
But Onyx didn’t let this get her down too much. She said she is tired of people saying what she can’t do. To her, she has no doubt about what the future holds.
“I’ll be able to walk again, I know I will,” Onyx said with confidence. “I believe that I will be able to walk again.”
That mindset is what Sands says keeps her going.
As of right now, no one has been charged for the shooting which keeps Sands on edge.
“They want me to be patient, but I am out of patience,” Sands said. “I would like to see justice for an innocent 6-year-old who was minding her own business.”
While those responsible are out free, small things like getting into a car are now triggers of trauma.
“Because I got shot in the back, and I’m a little bit scared to get in the car because it brings back the memories,” Onyx said.
Hearing Onyx say that is a hard pill to swallow for a mother that loves to travel everywhere with her daughter.
“As her mom, I’m used to being her superhero,” Sands said. “I fix all of her problems and that’s something that I can’t fix.”
Copyright 2023 WAVE via Gray Media Group, Inc. All rights reserved.
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Alfred Mucciarone was not pleased with how the spring high school baseball season ended.
After Franklin lost in the state championship for the second year in a row, Mucciarone was left to decide how he would spend his final summer before playing in college at UMass-Lowell.
Why not play for his town one more time?
Mucciarone is one of a number of local seniors on the Franklin Post 75 Legion baseball team, which won its second straight state title Friday by defeating Shrewsbury Post 397, 6-5, Friday at Mahan Field.
Post 75 — which had never won a state title before last season — will begin regional play Wednesday. Mucciarone spun 5 ⅓ innings of two-run ball with nine strikeouts in the title game as Franklin finished off an unbeaten season.
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It’s not just the success on the field for Franklin; Post 75 managed to bring back a number of now-high school graduates from the area for one more summer of Legion. Playing for the town — particularly after ending their high school careers with heartbreak — was a big pull.
“You’re playing for the community, a little something more than just an amateur league,” coach Tyler Pasquarosa said. “They’re playing rivals in surrounding towns under the lights, and I think it means something to them.”
With many of the contributors playing collegiately in just a few months, there’s always the allure of the Futures League, which pulls local talent thanks to a few rules that set it apart from other summer leagues.
First, players who have yet to play in college but are committed to play in the upcoming season can suit up (and do in droves) Starting in 2023, there is no limit to the number of incoming freshmen that can be rostered.
Second, each roster must include at least 10 players with New England ties — either residing or attending college in the region.
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“I did think about [playing in the Futures League], and it was tempting,” Mucciarone said. “But you know, just winning more games with these guys is always the best. I just didn’t want to end it off how we did in high school. Coming back here and playing with these guys just means the world to me.”
He’s not alone. Chris Goode, who just finished his freshman season at Merrimack, came back for one more summer of Legion ball. Other commits for next season include Ian Moser (Eastern Connecticut), Tyler Bellan (Wheaton), Luke Frauton (WPI), Eisig Chin (Stonehill), and Brendan Sencaj (Bentley).
“It’s always a blessing to win a state championship with your hometown,” Goode said. “To come here and win it twice in a row for the Legion team is huge since the Legion team has never won it before, it’s pretty awesome.”
To Pasquarosa, it’s a credit to the culture that those players helped create that they choose to return to Legion.
“I love those guys more than ever,” Pasquarosa said. “I love all my guys here, but they set the tone … We have a great group of resilient kids that come from great high school programs that know how to play baseball the right way. I’m fortunate that I’m able to coach them in the summer.”
Notables
▪ A pair of recent high school graduates earned starting spots in the Futures League All-Star Game Tuesday night, with Franklin’s Ryan Gerety and Natick’s Will Fosberg each suiting up for Team Mountain, which defeated Team Lake, 3-1. Both Gerety and Fosberg will play at Northeastern next season.
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▪ Dexter Southfield quarterback Joe McCauley Jr., a rising senior from Brookline, committed to Richmond on Friday… Austin Prep infielder Jake Harring is headed to Hofstra to play baseball. The rising senior was a 2022 All-Scholastic at Amesbury before transferring and reclassifying last summer. He is the son of former UMass Lowell baseball coach Ken Harring, who resigned last Monday after 19 years at the helm… Marblehead wide receiver Connor Cronin committed to Brown on Thursday. The two-time Globe All-Scholastic will do a post grad season at Avon Old Farms this year before enrolling at Brown, where he’ll play under coach James Perry... Westford track star Paul Bergeron will run at Stanford. Bergeron, a rising senior, was the Globe’s cross-country athlete of the year last fall and won the 2-mile at the Division 1 meet this spring with a time of 8:51.88, the third fastest in state history.
▪ Teddy Mutryn, a rising junior at Dexter Southfield, was selected to play for the USA Under-17 hockey team for the Five Nations Tournament. The tournament, which Team USA has won eight times since its creation in 2007, runs from Aug. 4-8. The Norwell resident was the lone Massachusetts player selected.
▪ Merry MacDonald is the new athletic director at Oliver Ames. MacDonald was a three-sport star at Braintree (Class of 2006) in volleyball, basketball, and softball. She helped the Wamps girls’ basketball team capture the 2006 Division 1 state title over Springfield Central. MacDonald, who played softball at Endicott, spent the last ten years as the softball coach at Fitchburg State. She is replacing Bill Matthews.
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▪ Carver won the Northeast 7v7 South Regional Small Schools Championship last Sunday at Xaverian, defeating Dexter Southfield, 14-12, in the championship game. In the Open Division, Milton reigned supreme by taking down North Kingstown (RI), 27-7. The New England Regionals will be held August 3-4 at Xaverian.
▪ Foxborough High School announced the school’s inaugural Hall of Fame class on Thursday. Bobby Moreshead, Joe Heinricher, Sarah Behn, Tom Nalen, Joan Goodwin, Jack Martinelli, and the 1987 state champion girls’ soccer team will all be inducted.
Globe correspondent AJ Traub contributed to this report.
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BALTIMORE, July 31, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced today that its Board of Directors has declared a quarterly dividend of $1.22 per share payable September 28, 2023, to stockholders of record as of the close of business on September 15, 2023.
ABOUT T. ROWE PRICE
Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages $1.40 trillion in assets under management as of June 30, 2023, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, Twitter, YouTube, and troweprice.com/newsroom.
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SOURCE T. Rowe Price Group, Inc.
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ROANOKE, Va. – Watch this story tonight on 10 News at 6
“Sick and tired of getting reports. We’ve never had a week like this in Roanoke and I’ve been on council 20 years,” Roanoke Mayor Sherman Lea said.
Another violent week in the Star City prompted city leaders to respond.
“It’s unacceptable that our community members are afraid to leave their homes or send their children out to play in their neighborhoods,” Interim police chief Jerry Stokes said.
Five shootings in the span of a week leaving three dead.
Police working on moving resources around to address the issue.
“Our criminal investigations bureau will be shifting and reallocating personnel to target known offenders in our city,” Stokes said.
The latest shooting Sunday marks the twentieth homicide this year.
Vice Mayor Joe Cobb said this behavior is unacceptable.
“We have to stop killing each other,” Cobb said.
Mayor Lea said he wants to crack down on illegal gun owners.
“I don’t care how old you are. If you have a gun on you, I want you arrested. If you’re 14, 15, or 16, I want you arrested. you shouldn’t have an illegal gun,” Lea said.
In all but one shooting, there have been no arrests made. Something that Stokes said is frustrating.
“Even if you’re not concerned about yourself, which I don’t understand either, think about your neighbors,” Stokes said.
Stokes is ready to take action in order to put the dangerous trend to an end.
“We’ll be taking the lead and taking all of the city’s resources to address the problem,” Stokes said.
Police are asking anyone with any information on any of these shootings to please speak up. They say without help from the public, the issue of gun violence will never be solved.
RPD said you can call (540)344-8500 to share what you know, or text 274637 and begin the text with “RoanokePD” to ensure it’s properly sent. We’re told both calls and texts can remain anonymous.
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by: Nichole Niemann Posted: Jul 31, 2023 / 03:00 PM CDT Updated: Jul 31, 2023 / 09:27 AM CDT Michael Cook, Rotten Tomatoes movie critic, gives Nichole his review on The Barbie movie.
The Testing Lab’s favorites from July The BestReviews Testing Lab tried many products in July, including robot vacuums, lawnmowers, golf clubs, hairstyling tools and smart speakers.
Nordstrom is practically giving Le Creuset cookware … Nordstrom’s Anniversary Sale is underway, and there are lots of deals on Le Creuset cookware! Snag these amazing deals before they’re gone!
8 school supply kits that make back-to-school shopping … Take the unnecessary stress out of back-to-school shopping by getting a supply kit packed with everything they’ll need.
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Jury poised to deliberate death penalty or life sentence for gunman in Pittsburgh synagogue massacre
PITTSBURGH (AP) — A jury is set to deliberate whether to impose the death penalty or a sentence of life in prison without parole on a man who spewed antisemitic hate before fatally shooting 11 worshippers at a synagogue in the heart of Pittsburgh’s Jewish community.
The same jurors who convicted 50-year-old Robert Bowers in June on 63 criminal counts listened to closing arguments Monday in the penalty phase of his federal trial, held nearly five years after the truck driver from suburban Baldwin perpetrated the deadliest attack on Jews in U.S. history.
Bowers defiled a place of worship when he entered the Tree of Life synagogue on Oct. 27, 2018, and opened fire with an AR-15 rifle, shooting everyone he could find in a mass murder clearly motivated by religious hatred, said U.S. Attorney Eric Olshan.
Bowers raved incessantly on social media about his hatred of Jewish people — using a slur for Jewish people some 400 times on a social media platform favored by the far right — and remains proud that he killed Jews, the prosecutor reminded jurors,
“Do not be numb to it. Remember what it means. This defendant targeted people solely because of the faith that they chose,” Olshan said.
He added: “This is a case that calls for the most severe punishment under the law: the death penalty.”
Bowers’ lead defense attorney, Judy Clarke, acknowledged the horror of his crimes but urged jurors to opt for a life sentence.
“What has happened cannot be undone. We can’t rewind the clock and make it that this senseless crime never happened. All we can do is make the right decision going forward. We are asking you to make the right decision, and that is life,” Clarke said in her closing argument.
A life sentence would mean that “prison is where Mr. Bowers will die in obscurity, not as a hero and not as a martyr,” she said.
Bowers’ attorneys have argued that he has schizophrenia, a serious brain disorder whose symptoms include delusions and hallucinations, and that Bowers attacked the synagogue out of a delusional belief that Jews were helping to bring about a genocide of white people by coming to the aid of refugees and immigrants. Clarke recounted Bowers’ history of psychiatric hospitalizations, including an extended stay in a residential juvenile mental health program.
The defense also presented evidence of Bowers’ difficult childhood.
Olshan disputed the defense experts’ diagnosis of schizophrenia, asserting that Bowers was not suffering psychosis but had chosen to believe white supremacist rhetoric. And while acknowledging that Bowers was a depressed, neglected child, Olshan downplayed the significance of it, noting that Bowers had held jobs, paid bills, and was an otherwise functioning adult.
“He was not a child, he was a grown man. He was responsible for his actions, not his family and things that happened decades earlier. He was, he is responsible for his actions,” Olshan said.
In order to impose death, jurors must find that aggravating circumstances, which make the crime especially heinous, outweigh mitigating factors that could be seen as diminishing his culpability. Those aggravating circumstances could include the vulnerability of Bowers’ elderly and disabled victims and his targeting of Jewish people.
Olshan played a composite of 911 calls made from inside the synagogue, including audio of people being shot and a survivor’s horrified screams.
He said Bowers had taken “11 people, 11 full lives, 11 people who loved their families, 11 people who loved their friends, 11 people who were loved. ... How do you measure the impact of all of that loss?”
The prosecutor spoke about 75-year-old Joyce Fienberg’s care for her family and 65-year-old Richard Gottfried’s devotion to his faith. He said Dr. Jerry Rabinowitz, 66, had the ethos of a country doctor: “He loved delivering babies but he never delivered judgment.” David Rosenthal, 54, and Cecil Rosenthal, 59, intellectually disabled brothers, “loved life,” Olshan said. “But maybe more than anything, they loved Tree of Life.”
The other deceased victims were Rose Mallinger, 97; Bernice Simon, 84, and her husband, Sylvan Simon, 86; Dan Stein, 71; Melvin Wax, 87; and Irving Younger, 69.
The attack also wounded seven people, including five responding police officers. Bowers was shot three times before surrendering when he ran out of ammunition.
___
Rubinkam reported from northeastern Pennsylvania.
Copyright 2023 The Associated Press. All rights reserved.
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Let’s wrap it up!
The Morning Sprint is filled with laughter, smiles, and stories you definitely don’t want to miss. We know you’re busy, though, so let’s save you some time!
Here are five of this month’s top Morning Sprint episodes.
1. Why authorities are sounding the alarm about the Prime energy drink
2. Terrifying video shows Georgia deputy pulling driver from burning car
3. The new TikTok challenge that’s taking lives
4. See the Carowinds roller coaster scare
5. Delta flight makes emergency landing at Charlotte airport
All about the Morning Sprint
The Morning Sprint is our digital-only newscast is filled with laughter, smiles, and stories you won’t want to miss.
You can catch it Monday through Friday at 8 a.m. on our website, YouTube account and wherever you stream WSLS 10.
You can also watch it on our 10 News app. Click here to download if you’re an IOS user and here to download if you have an Android.
Click here to check out other Morning Sprint episodes!
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ENGLEWOOD, Colo., July 31, 2023 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband provider in the United States, announced today it will host a webcast and conference call on Tuesday, August 8, 2023, at 8:00 a.m. ET to discuss financial and operating results for the second quarter 2023. WOW! will issue a news release reporting its results earlier that morning.
The conference call will be broadcast live on the company's investor relations website at ir.wowway.com. Those parties interested in participating via telephone should dial (888) 330-3556 with the conference ID number 4844814. International callers should dial (646) 960-0826 and use the same conference ID number.
A replay of the call will be available August 8, 2023, at 11:00 a.m. ET, on the investor relations website or by telephone. To access the telephone replay, which will be available until August 22, 2023, at 11:59 p.m. ET, please dial (800) 770-2030 or (647) 362-9199 and use conference ID 4844814.
About WOW! Internet, TV & Phone
WOW! is one of the nation's leading broadband providers, with an efficient and high-performing network that passes nearly 2 million residential, business and wholesale consumers. WOW! provides services in 15 markets, primarily in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia and Florida, including the new all-fiber network in Central Florida. With an expansive portfolio of advanced services, including high-speed Internet services, cable TV, home phone, mobile phone, business data, voice, and cloud services, the company is dedicated to providing outstanding service at affordable prices. WOW! also serves as a leader in exceptional human resources practices, having been recognized 10 times by the National Association for Business Resources as a Best & Brightest Company to Work For in the Nation, winning the award for the last six consecutive years and making the 2022 Top 101 National Winners list. Visit wowway.com for more information.
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Doctors concerned brain-eating amoeba infection could increase due to warmer water temperatures
PHOENIX (KPHO/Gray News) -- Some scientists predict brain-eating amoeba cases could grow since we’ve had record heat and water temperatures are increasing.
The amoeba, naegleria fowleri, can enter the body through the nose and travel to the brain, resulting in an infection. While cases are limited over the years, there have been multiple in Arizona at Lake Pleasant and Lake Mead.
Most recently in Nevada, a child died because of the disease.
Brain-eating amoeba is a microscopic parasite found in warm, fresh bodies of water like hot springs or lakes. You can’t get it by accidentally swallowing the water or through a cut. The only way to get infected is by getting it far up your nose by diving or cannonballing into a lake.
Although infection is rare, the disease has a 97% fatality rate since symptoms are common at first. The disease is usually only diagnosed when it’s in the late-stage and symptoms progress to more severe illness like hallucinations and seizures. By that point, it’s usually too late to treat the disease effectively.
There are only about 10 cases per year, but experts say because the amoebas live in warm, fresh bodies of water, they expect to see that number increase with rising temperatures.
Dr. Wassim Ballan, an infectious disease specialist at Phoenix Children’s Hospital, said there are concerns about cases rising, as well as a number of other infectious diseases.
“We are probably going to see a change in trends because of the climate changing and the temperatures rising,” Ballan said. “So there is a lot of concern in the infectious disease community about a lot of different infections, including amoebic infections becoming more common as the climate is warming.”
He also said parents who notice their child feeling unwell after a day of swimming should get them checked out right away. Early symptoms usually start five days after infection. They include sudden fever, headache, and stiff neck. Because the amoebas can only be deadly by entering through the nose, doctors recommend you not jump or dive into the water and instead hold your nose or wear nose clips. Or better yet, keep your head above water.
Digging in shallow water is also not advised since it stirs up the sediment where the amoeba live. It’s important to note there haven’t been any recent cases at Saguaro Lake. Since they started tracking the disease in 1962, there have been only 160 reported cases, so it’s infrequent. Still, Ballan said it isn’t worth the risk when prevention is so easy.
For more information on the naegleria fowleri, visit the Centers for Disease Control and Prevention’s website.
Copyright 2023 KPHO/KTVK via Gray Media Group, Inc. All rights reserved.
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LOS ANGELES (AP) — Paul Reubens, the actor and comedian whose Pee-wee Herman character — an overgrown child with a tight gray suit and an unforgettable laugh — became a 1980s pop cultural phenomenon, has died at 70.
Reubens, who’s character delighted fans in the film “Pee-wee’s Big Adventure” and on the TV series “Pee-wee’s Playhouse,” died Sunday night after a six-year struggle with cancer that he kept private, his publicist said in a statement.
“Please accept my apology for not going public with what I’ve been facing the last six years,” Reubens said in a statement released Monday with the announcement of his death. “I have always felt a huge amount of love and respect from my friends, fans and supporters. I have loved you all so much and enjoyed making art for you.”
Created for the stage, Pee-wee with his white chunky loafers and red bow tie would become a cultural constant in both adult and children’s entertainment for much of the 1980s, though an indecent exposure arrest in 1991 would send the character into entertainment exile for years.
The laugh that punctuated every sentence, catch phrases like “I know you are but what am I” and a tabletop dance to the Champs’ song “Tequila” in a biker bar in “Pee-wee’s Big Adventure” were often imitated by fans, to the joy of some and the annoyance of others.
Reubens created Pee-wee when he was part of the Los Angeles improv group The Groundlings in the late 1970s. The live “Pee-wee Herman Show” debuted at a Los Angeles theater in 1981 and was a success with both kids during matinees and adults at a midnight show.
The show closely resembled the format the Saturday morning TV “Pee-wee’s Playhouse” would follow years later, with Herman living in a wild and wacky home with a series of stock-character visitors, including one, Captain Karl, played by the late “Saturday Night Live” star Phil Hartman.
HBO would air the show as a special.
Reubens took Pee-wee to the big screen with 1985’s “Pee-wee’s Big Adventure,” which takes the character outside for a nationwide escapade. The film, in which Pee-wee’s cherished bike is stolen, was said to be loosely based on Vittorio De Sica’s Italian neo-realist classic, “The Bicycle Thief.” Directed by Tim Burton and co-written by Hartman, the movie was a success, grossing $40 million, and continued to spawn a cult following for its oddball whimsy.
A sequel followed three years later in the less well-received “Big Top Pee-wee,” in which Pee-wee seeks to join a circus. Reubens’ character wouldn’t get another movie starring role until 2016’s Pee-wee’s Big Holiday,” for Netflix. Judd Apatow produced Pee-wee’s big-screen revival.
His television series, “Pee-wee’s Playhouse,” ran for five seasons, earned 22 Emmys and attracted not only children but adults to Saturday-morning TV.
Jimmy Kimmel posted on Instagram that “Paul Reubens was like no one else — a brilliant and original comedian who made kids and their parents laugh at the same time. He never forgot a birthday and shared his genuine delight for silliness with everyone he met.”
Both silly and subversive and championing nonconformity, the Pee-wee universe was a trippy place, populated by things like a talking armchair and a friendly pterodactyl. The host, who is fond of secret words and loves fruit salad so much he once married it, is prone to lines like, “Why don’t you take a picture; it’ll last longer?” The act was a hit because it worked on multiple levels, even though Reubens insists that wasn’t the plan.
“It’s for kids,” Reubens told The Associated Press in 2010. “People have tried to get me for years to go, ‘It wasn’t really for kids, right?’ Even the original show was for kids. I always censored myself to have it be kid-friendly.
“The whole thing has been just a gut feeling from the beginning,” Reubens told the AP. “That’s all it ever is and I think always ever be. Much as people want me to dissect it and explain it, I can’t. One, I don’t know, and two, I don’t want to know, and three, I feel like I’ll hex myself if I know.”
Reubens’ career was derailed when he was arrested for indecent exposure in an adult movie theater in Sarasota, Florida, the city where he grew up. He was handed a small fine but the damage was incalculable.
He became the frequent butt of late-night talk show jokes and the perception of Reubens immediately changed.
“The moment that I realized my name was going to be said in the same sentence as children and sex, that’s really intense,” Reubens told NBC in 2004. “That’s something I knew from that very moment, whatever happens past that point, something’s out there in the air that is really bad.”
Reubens said he got plenty of offers to work, but told the AP that most of them wanted to take “advantage of the luridness of my situation”,” and he didn’t want to do them.
“It just changed,” he said. “Everything changed.”
He did take advantage of one chance to poke fun at his tarnished image. Just weeks after his arrest, he would open the MTV Video Music Awards, walking on to the stage alone and saying, “Heard any good jokes lately?” (Herman appearances on MTV had fueled Pee-wee’s popularity in the early 1980s.)
In 2001, Reubens was arrested and charged with misdemeanor possession of child pornography after police seized images from his computer and photography collection, but the allegation was reduced to an obscenity charge and he was given three years probation.
Born Paul Rubenfeld in Peekskill, New York, in 1952, the eldest of three kids, he grew up in Sarasota where his parents ran a lamp store and he put on comedy shows for neighbor kids.
After high school he sought to study acting. He spent a year at Boston University, and was then turned down by the Juilliard School and Carnegie-Mellon University. So he enrolled at the California Institute of the Arts. That would lead to appearances at local comedy clubs and theaters and joining the Groundlings.
After the 1991 arrest, he would spend the decade playing primarily non-Pee-wee characters, including roles in Burton’s 1992 movie “Batman Returns,” the “Buffy the Vampire Slayer” film and a guest-star run on the TV series “Murphy Brown.”
He also appeared in the 1999 comedy film “Mystery Men” and Johnny Depp’s 2001 drug-dealer drama “Blow.”
Reubens — who never lost his boyish appearance even in his 60s, would slowly re-introduce Pee-wee, eventually doing a Broadway adaptation of “The Pee-wee Herman Show” in 2010, and the 2016 Netflix movie.
Reubens was beloved by his fellow comedians, and fans of Pee-wee spanned the culture.
Director Guillermo del Toro tweeted Monday that he was “one of the patron saints of all misfitted, weird, maladjusted, wonderful, miraculous oddities.”
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Associated Press Writer Alicia Rancilio and Film Writer Jake Coyle contributed to this report.
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| 2023-07-31T21:03:05
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Justin Turner would have fit effortlessly on the 2013 Red Sox, and not just because he has the requisite unruly beard.
That’s just about the highest compliment we can pay to a Red Sox player, is it not?
Oh, the 2004 Red Sox are of course the most storied, important, and enduring of the four World Series-winning teams this century, and if you disagree with that, you are way overdue for a rewatch of “Four Days in October.”
The 2018 edition, which won a franchise-record 108 games in the regular season and buzz-sawed through the Yankees, Astros, and Dodgers in the postseason, is the best Red Sox team we’ve ever seen.
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The 2007 champs? They were constructed with remarkable balance, with the superstar holdovers from the ‘04 curse-busters (Manny Ramirez, David Ortiz, Curt Schilling) joined by the rich fruits of the farm system (Dustin Pedroia, Jon Lester, Jonathan Papelbon) and a savvy trade acquisition or two (Mike Lowell, Josh Beckett).
But ‘13, that team permanently resides in Boston’s heart. Ortiz, Pedroia, and Lester formed the reliable holdover core. But a collection of underestimated veteran acquisitions with something to prove — among them Shane Victorino, Mike Napoli, and Koji Uehara — formed an unbreakable all-for-one-one-for-all kinship with each other and the people of this city in the wake of the Boston Marathon bombing in April.
Those Sox, who had finished in last place the previous season, weren’t supposed to win much of anything. Instead, they won the World Series, and they won us over forever.
Turner was just a 28-year-old fledgling utility player with the Mets in ‘13, so if we’re being Captain Literal here, no, he would not have helped the Sox that year even as much as, say, Mike Carp.
But now, a decade later, in his first and hopefully not lone season with the Red Sox, his approach on and off the field have helped bring that ‘13 ethos back to the franchise.
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That’s my long-and-winding road to saying this: Chaim Bloom would be doing his team and himself no favors if he trades Turner by tomorrow’s 6 p.m. deadline.
Moving the 38-year-old Turner, who has a $13.4 million player option for next season, has to be considered somewhat of a possibility considering his contract situation and his immense appeal to a true contender.
Turner delivers in the big moments. He punishes those who underestimate him. He prioritizes camaraderie, being a good teammate, and connecting with the fans in the city he now calls his baseball home. I now understand why Dodgers fans admired him so much, treating him as if he were a great player rather than a very good one. He wins games, and he wins you over.
My favorite example of Turner coming through occurred during last Wednesday’s thrilling come-from-behind win at Fenway against the Braves, when his two-run Wall-ball double in the seventh inning put the Red Sox up, 4-3, in an eventual 5-3 win. There were 37,457 patrons in the ballpark that night. I’d bet 30,000 of them assumed he would come through.
Turner is not the main reason this Red Sox season feels more hopeful than the last one ever did; the majority of optimism can be ascribed to the development of Brayan Bello, Triston Casas, and Jarren Duran, and the sense that the core of the next excellent Red Sox team is pulling into the parking lot right now.
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But he is a reason, and not an unimportant one. He’s hitting very well (.287 average, .839 OPS, 17 homers, league-high 49 RBIs since June 1). Defensively, he’ll play wherever manager Alex Cora points him.
I think it’s telling that his third most-similar player statistically through age-37 is Kevin Millar. Turner is a little better hitter, a little less boisterous, a little more authentic, but he brings the same good attributes as Millar did to the 2003 Red Sox, and then to the champs a year later. Turner is the kind of guy who would declare in a tense playoff series, “Don’t let us win tonight, because …” And he’d mean it.
(Aside: Turner’s most similar player through age 30 is Tim Naehring, if you’re one of those folks like me who wonder what shape Naehring’s career might have taken had it not been ended by an elbow injury.)
Now, the realists among us can probably agree that earning one of the three American League wild-card spots would constitute a successful season for the Red Sox. They are not talented or deep enough to pull off a 2013 redux.
But we also can agree that this season is so much more hopeful than last. The new core is blossoming. On most nights — at least on nights when they catch the ball — they are genuinely fun to watch. If these guys can figure out how to beat a Bay Area team once in a while, they can make a real playoff push.
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Bloom cannot take the “Hey, free Hosmer!” approach to “enhancing” the roster that he did last year. Rafael Devers was right. The Red Sox deserve real help. Fans are tired of waiting … waiting for prospects to arrive … waiting for players to come back from injuries … waiting for enhancements that never arrive.
The future is bright. But the present matters too. Bloom needs to get his team help before the deadline.
Justin Turner has been here just a short time. But in approach, aptitude, and attitude, he’s reminiscent of players on the best Red Sox teams of this generation. That’s not someone you trade. That’s someone you clone.
Chad Finn can be reached at chad.finn@globe.com. Follow him @GlobeChadFinn.
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https://www.bostonglobe.com/2023/07/31/sports/whatever-red-sox-do-this-deadline-they-shouldnt-trade-justin-turner/
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BOISE, Idaho (KTVX) – Lori Vallow Daybell, convicted of murdering her children, among other crimes, was sentenced to five life sentences in prison Monday with no possibility of parole. This sentencing brings closure to nearly four years of investigation and a trial.
Daybell, 49, was found guilty of murder, and conspiracy to commit murder of her children Joshua “JJ” Vallow, 7, and Tylee Ryan, 16. She was also convicted of conspiracy to commit murder in the death of Tammy Daybell, the former wife of her husband, Chad Daybell. Additionally, Lori was found guilty of grand theft.
Lori was sentenced to five life sentences without the possibility of parole, three of which will run consecutively, for her involvement in their murders and the conspiracy to commit murder. While many called for the death penalty, it was ruled out by a judge in March 2023 prior to her murder trial.
The case began in 2018 when Lori and Chad met at a religious conference in St. George. They became close friends, and even lovers, though both were married to other people. In July 2019, Lori’s husband Charles Vallow was killed by her brother, and it was declared self-defense, but later identified as a homicide.
Then in late-2019, Lori’s two children went missing — a case that captivated the United States. And while investigators were frantically searching for the kids, Lori and Chad were in Hawaii getting married.
Chad’s wife Tammy died a few weeks before Lori and Chad ran to Hawaii, but after the children went missing. Her death was originally ruled natural causes but later declared asphyxiation at the hands of another after her body was exhumed.
In February 2020, Lori was arrested on charges of desertion and nonsupport of dependent children. In April, Lori and Chad were both under investigation for conspiracy, attempted murder, and murder. They both pleaded not guilty.
During the final stages of the investigation leading up to their scheduled trials in January 2023, Tylee and JJ’s remains were found buried on Chad’s property.
Because of the large amount of evidence discovered, and the fact that Chad waived his right to a speedy trial, he will face his charges in April 2024. However, Lori did not waive her right to a speedy trial and appeared in court on April 2023, where she was found guilty on all charges.
Now, in July 2023, nearly four years after Lori’s children were murdered, she was sentenced to life in prison on all counts.
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https://www.kark.com/crime/lori-vallow-daybell-given-5-life-sentences-in-prison-for-murders-of-her-two-children/
| 2023-07-31T21:03:10
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CHARLOTTE, N.C., July 31, 2023 /PRNewswire/ -- Ten Oaks Group, a recognized family office and standout in the corporate carve out sector, proudly announces the addition of four exceptional professionals to its esteemed team of Operating Partners. The recent hiring of James Deng, Greg Warren, David Izquierdo, and Lauren Celano underscores Ten Oaks Group's commitment to bringing accomplished talent with diverse capabilities and amplifying its capacity for turnaround, legal, and international investment exceptionalism.
James Deng assumes the position of Operating Partner at Ten Oaks Group. Prior to joining, he was a Vice President at Audax Private Equity supporting value creation initiatives. James has also served as Director of Revenue Growth Management at Keurig Dr Pepper and a management consultant at Ernst & Young focused on Corporate and Growth Strategy.
Greg Warren brings a wealth of legal and restructuring knowledge as he joins as Assistant General Counsel and Operating Partner. Greg previously was a member of White & Case LLP's financial restructuring and insolvency practice, representing debtors and creditors both in and out of bankruptcy. Greg has experience in operational, corporate, and financial matters, as well as litigation and acquisitions.
David Izquierdo joins as an Operating Partner focused on Ten Oaks Group's European portfolio companies. Prior to Ten Oaks, David focused on designing and implementing strategic and transformation programs across a wide variety of industries in roles in corporate development at Selenis and management consulting at Monitor Deloitte and PwC.
Lastly, Lauren Celano joins the team as Associate Operating Partner, leveraging her vast experience from the healthcare and pharmaceutical industries, where she also led business development efforts. Additionally, she has experience at Alvarez & Marsal and other private equity and venture capital firms.
"At Ten Oaks Group, we believe that attracting top-notch talent is essential for leading value creation efforts for our portfolio," said Kendall Thurlow, head of value creation at Ten Oaks Group. "Lauren, James, David, and Greg embody the caliber of professionals we seek to bring on board, and we are excited to welcome them as valuable members of our team of Operating Partners."
Ten Oaks Group is committed to cultivating a dynamic and growth-oriented environment for its practitioners. With a commitment to fostering private equity careers, the company offers comprehensive opportunities for professional development and advancement.
To learn more about the background and expertise of the newly hired Operating Partners and explore potential career opportunities with Ten Oaks Group, visit www.tenoaksgroup.com.
About Ten Oaks Group:
Ten Oaks Group is a family office focused exclusively on investing in corporate divestitures. It brings speed, flexibility and certainty to divestitures of non-core businesses that no longer fit their parent company's corporate strategy. Following acquisition, Ten Oaks Group leverages its experienced team of Operating Partners to manage the transition and separation process and implement operational strategies that reveal and optimize the underlying potential of each business.
Each company within Ten Oaks Group operates independently under its own dedicated management team and receives management support services from Ten Oaks Management, LLC. Ten Oaks Group was founded by Matt Magan and Mike Hahn and has closed 25 carve-out transactions across 10 countries since inception.
To learn more about Ten Oaks Group's unique approach to corporate divestitures, please visit www.tenoaksgroup.com.
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https://www.wflx.com/prnewswire/2023/07/31/ten-oaks-group-expands-capabilities-with-strategic-hires/
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WASHINGTON – President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama and ending months of politically fueled debate, according to senior U.S. officials.
The officials said Biden was convinced by the head of Space Command, Gen. James Dickinson, who argued that moving his headquarters now would jeopardize military readiness. Dickinson's view, however, was in contrast to Air Force leadership, who studied the issue at length and determined that relocating to Huntsville, Alabama, was the right move.
The officials spoke on condition of anonymity to discuss the decision ahead of the announcement.
The president, they said, believes that keeping the command in Colorado Springs would avoid a disruption in readiness that the move would cause, particularly as the U.S. races to compete with China in space. And they said Biden firmly believes that maintaining stability will help the military be better able to respond in space over the next decade. Those factors, they said, outweighed what the president believed would be any minor benefits of moving to Alabama.
Biden's decision is sure to enrage Alabama lawmakers and fuel accusations that abortion politics played a role in the choice. The location debate has become entangled in the ongoing battle between Alabama Republican Sen. Tommy Tuberville and the Defense Department over the move to provide travel for troops seeking reproductive health care. Tuberville opposed the policy is blocking hundreds of military promotions in protest.
The U.S. officials said the abortion issue had no effect at all on Biden's decision. And they said the president fully expected there would be different views on the matter within the Defense Department.
Formally created in August 2019, the command was temporarily based in Colorado, and Air Force and Space Force leaders initially recommended it stay there. In the final days of his presidency Donald Trump decided it should be based in Huntsville.
The change triggered a number of reviews.
Proponents of keeping the command in Colorado have argued that moving it to Huntsville and creating a new headquarters would set back its progress at a time it needs to move quickly to be positioned to match China’s military space rise. And Colorado Springs is also home to the Air Force Academy, which now graduates Space Force guardians, and more than 24 military space missions, including three Space Force bases.
Officials also argued that any new headquarters in Alabama would not be completed until sometime after 2030, forcing a lengthy transition.
Huntsville, however, scored higher than Colorado Springs in a Government Accountability Office assessment of potential locations and has long been a home to some of earliest missiles used in the nation’s space programs, including the Saturn V rocket. It is home to the Army’s Space and Missile Defense Command.
According to officials, Air Force Secretary Frank Kendall, who ordered his own review of the matter, leaned toward Huntsville, while Dickinson was staunchly in favor of staying put. The officials said Defense Secretary Lloyd Austin presented both options to Biden.
The decision was good news for Colorado lawmakers.
“For two and a half years we’ve known any objective analysis of this basing decision would reach the same conclusion we did, that Peterson Space Force Base is the best home for Space Command," Sen. John Hickenlooper, D-Colo., said in a statement. “Most importantly, this decision firmly rejects the idea that politics — instead of national security — should determine basing decisions central to our national security.”
Sen. Michael Bennet, D-Colo., said the decision “restores integrity to the Pentagon’s basing process and sends a strong message that national security and the readiness of our Armed Forces drive our military decisions.”
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https://www.wsls.com/news/politics/2023/07/31/biden-has-decided-to-keep-space-command-in-colorado-rejecting-move-to-alabama-officials-tell-ap/
| 2023-07-31T21:03:11
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High prices ‘disproportionately pinching’ younger Americans, data shows
30% of Gen Z, 28% of millennials have no emergency savings
(InvestigateTV) — More than seven in 10 younger Americans are saving less because of inflation when compared to Gen X and baby boomers, a recent Bankrate.com survey found.
Sarah Foster is a principal writer for Bankrate.com. She said this is a time for younger Americans to be very mindful of how much they are spending and to hyper analyze their budgets.
Foster said the ultimate goal for Gen Z and millennials should be to make sure they are living within their means. She added there are several advantages to being young right now, especially when it comes to retirement contributions.
“Really the best way to gain wealth and beat inflation in the long run is to make sure that you’re holding a diverse portfolio of assets, including stocks,” Foster explained. “And so, we know that even if someone were to stop investing for three years because of inflation and they’re in their mid-twenties, they’d leave almost $200,000 on the table by the time they were 70.”
Foster said don’t stop retirement contributions during inflation. The amount can be reduced, but consistent contributions is key.
She said another reason younger Americans are being hit hard is they are early in their careers and haven’t reached their peak earnings.
Foster advised them to put any raises or extra money in savings or retirement accounts.
Bankrate has 11 tips for young Americans trying to reach financial goals during high inflation, including:
- Look for high-yield savings accounts that offer much better returns that traditional accounts
- Automate savings to build an emergency fund
- Wait 24 hours before any unnecessary purchases
Copyright 2023 Gray Media Group, Inc. All rights reserved.
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https://www.mysuncoast.com/2023/07/31/high-prices-disproportionately-pinching-younger-americans-data-shows/
| 2023-07-31T21:03:11
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ATLANTA, July 31, 2023 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its second quarter 2023 financial results. Complete financial results are available at investor.aarons.com. Highlights of those results are included below and in the attached supplement.
Second Quarter 2023 Consolidated Results1:
- Revenues were $530.4 million, a decrease of 13.1%
- Net earnings were $6.5 million, an increase of 222.0%; Non-GAAP net earnings2 were $12.2 million, a decrease of 50.6%
- Adjusted EBITDA2,3 was $42.4 million, a decrease of 17.0%
- Diluted EPS was $0.21; Non-GAAP diluted EPS2 was $0.39
- Write-offs were 5.4% in the Aaron's Business, an improvement of 30 basis points
- Reduced debt $36.1 million in the quarter and $124.3 million since the prior year quarter-end
- Updates 2023 full year outlook; lowers revenues, maintains adjusted EBITDA, and increases adjusted free cash flow
Second Quarter 2023 Key Items:
The Aaron's Company
- Earnings were ahead of internal expectations largely due to ongoing expense controls, despite lower revenues in both business segments
- Ended the quarter with cash and cash equivalents of $38.4 million and debt of $186.1 million, resulting in a net debt2 reduction of $30.2 million in the quarter primarily due to strong cash provided by operating activities
Aaron's Business
- Earnings before income taxes were $30.8 million; adjusted EBITDA was $49.5 million, which exceeded internal expectations and increased 3.0% as compared to the prior year quarter primarily due to lower total operating expenses and lower write-offs
- Personnel and other operating expenses benefited from cost optimization initiatives and ongoing investments in technology platforms and marketing analytics
- Ended the quarter with 230 GenNext stores, 101 hubs, and 101 showrooms
- GenNext stores accounted for approximately 29% of lease revenues & fees and retail sales
- E-commerce revenues increased 5.5% as compared to the prior year quarter and represented 17.9% of lease revenues
BrandsMart
- Earnings before income taxes were $1.1 million; adjusted EBITDA was $4.5 million, which exceeded internal expectations despite lower revenues due to continued pressure on customer demand
- Began construction on first new BrandsMart store planned to open in Augusta, GA in Q4 2023
The Company will host an earnings conference call tomorrow, August 1, 2023, at 8:30 a.m. ET. Chief Executive Officer Douglas A. Lindsay will host the call along with President Steve Olsen and Chief Financial Officer C. Kelly Wall. A live audio webcast of the conference call and presentation slides may be accessed at investor.aarons.com and the hosting website at https://events.q4inc.com/attendee/457512107. A transcript of the webcast will also be available at investor.aarons.com.
About The Aaron's Company, Inc.
Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron's offers a direct-to-consumer lease-to-own solution through its approximately 1,260 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance retailers in the country with ten retail stores in Florida and Georgia, as well as its e-commerce platform. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is the Company's furniture manufacturing division. For more information, visit investor.aarons.com, aarons.com, and brandsmartusa.com.
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https://www.kold.com/prnewswire/2023/07/31/aarons-company-inc-reports-second-quarter-2023-financial-results-updates-full-year-outlook/
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4 separatist Bosnian Serb leaders are sanctioned by US Treasury for undermining a 1995 peace deal
SARAJEVO, Bosnia-Herzegovina (AP) — The U.S. has imposed sanctions on four ranking Bosnian Serb officials for undermining a 1995 peace agreement that ended a war that left more than 100,000 dead and millions homeless. The officials sanctioned by the U.S. Treasury include Zeljka Cvijanovic, a Serb member of the tripartite collective Bosnian presidency, as well as the prime minister of the Serb entity in Bosnia, Radovan Viskovic. The four are alleged to have taken part in drafting a law that U.S. and other international officials say undermines the unity of Bosnia by ignoring the decisions by the country’s constitutional court.
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https://kion546.com/ap-colorado/2023/07/31/4-separatist-bosnian-serb-leaders-are-sanctioned-by-us-treasury-for-undermining-a-1995-peace-deal/
| 2023-07-31T21:03:12
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LOS ANGELES (AP) — If you believe Janelle Monae ’s hyper-sexual expression is a front, think again.
These days, Monae is unapologetically living her truth in a bold manner while trying to avoid negativity. The star, once known for sporting custom-made suits, has shed that attire (at least for now) to nearly bare all, like on the cover of her latest studio album, “The Age of Pleasure,” where she’s seen swimming topless in a pool. It’s her first release since 2018’s “Dirty Computer,” which was nominated for album of the year at the Grammys.
In recent months, Monae hasn’t been afraid of risque looks and nudity. She revealed herself during an event celebrating the release of her single “Lipstick Lover” and again onstage at an Essence Music Festival set — which drew some social media criticism including from singer India Arie and rapper Uncle Luke. She also attended the 2023 Met Gala in a barely-there outfit.
For Monae, this is her time to be free.
Monae spoke recently with The Associated Press about her supportive mother, side-stepping criticism and teasing her upcoming North American tour, which kicks off Aug. 30 in Seattle. Other tour stops include New York and Nashville and she’ll wrap in Los Angeles in mid-October.
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AP: Since you haven’t toured since 2019, was your recent Essence Festival performance a tune up for your upcoming tour?
MONAE: Yeah, we’re testing out the songs. You‘re getting them in your body. Right now, we don’t have a lot of muscle memory with the new songs. We haven’t toured them. I know if you come into the show, you’ll love the songs. But hearing them live is a different experience, especially when you’re putting them with songs from previous work. We’re basically just putting a show together based on what we feel is good. Sometimes you just don’t know until you get on stage.
AP: What do you want people to take away from your show?
MONAE: Tap into your free (expletive) energy. That’s rooted in self-love — not arrogance. Tap into that space and then take care of each other. That’s what I hope. With the shows that I do, and when I look out, it’s an experience. It’s like our own church. You want to take care of each other.
Even if your freedom doesn’t look like that person’s freedom, you understand that we’re fighting against something much bigger than us. We’re systemically fighting against something much bigger than us, so we got to band together, we got to stick together. We have to make sure that we’re showing up for each other. If we have privilege in certain areas, making sure that we’re lending a hand, lending a voice, amplifying a message.
AP: How has it been to walk in your truth while facing criticism about your racy performances from people like Arie and Uncle Luke?
MONAE: That has absolutely nothing to do with me. I love everybody. I’m in the age of pleasure.
AP: When did you feel comfortable with living life the way you want without caring about others’ opinions?
MONAE: It’s not like I don’t care what people think. I care what some people think. I don’t care what everybody thinks. That’s the same when it comes to music. When you make a new song, I can’t go soliciting everybody’s opinions about the song. By the time I get back to the second pass of it, it’s all over the place. Everybody’s going to have an opinion. For me, it’s like, whose voice do I trust? Who do I know that loves me, cares about me, whose taste do I like, who actually is evolved enough to even understand what it is that I’m doing? Who understands nuance?
You shouldn’t care what anybody has to say. You just care what the right people have to say and everything else is muted.
AP: Who are those right people for you?
MONAE: Family. Close friends.
AP: In your journey, your mother has been a huge supporter. Whenever you have fallen under certain criticisms, how has she helped you navigate the critics?
MONAE: My mom is like ride or die. I have to tell her like “Mom, you don’t need to defend me. You don’t need to defend my life or my decisions.” For her, I’m her baby. Like any mama bear, you might get punched in the eye if you say something. You might. But I’ve calmed her down over the years. For the most part, we mostly respond to love. It’s a lot of people that love where I am and who I am and what I’m doing, and they feel really empowered and inspired by it, and that makes my mom proud, and it makes me happy.
AP: How do you avoid the naysayers?
MONAE: I’m too busy living life to be distracted. The positive things are always amazing too, but I also don’t go fishing for that. One of the things about being in the age of pleasure is being present and making sure that I’m dipping in on social media, saying what I need to say, showing love, saying “thank you,” putting up my art and leaving, going to go create more things and make more memories and more experiences.
I’m in the middle of putting together a tour for North America. We haven’t been on tour since 2019. For me, I have a lot of things that keep me busy. I’m practicing guitar. I’m having the best sex of my life. I’m happy. Even in the middle of all that’s going on in this world, I’m finding time to steal joy and to center joy and to stay surrounded by the people that bring me joy and that I can bring joy too.
AP: How did “Age of Pleasure” define where you are in life?
MONAE: I wanted to create a soundtrack to our lifestyle. I think this album like all my albums reflect exactly where I am at that time. Each album will let you know where I was in my evolution process, what things I had to unlearn, what things I learned. I love that. I love that you can always look at an artist working, sort of see what they were on at that time.
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https://www.wric.com/entertainment-news/ap-qa-janelle-monae-talks-about-freedom-how-new-album-defines-her-and-getting-ready-to-tour-again/
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Updated July 31, 2023 at 4:09 PM ET
Pee-wee Herman, the comic creation of actor/writer Paul Reubens, would often toss taunts of the schoolyard into his casual conversation. It was one of the character's go-to bits.
"Why don't you take a picture? It'll last longer!"
"That's my name! Don't wear it out!"
And, most iconically,
"I know you are, but what am I?"
Of course, when it came to Pee-wee himself, with his tight gray suit, red bow tie, crew cut, rouged cheekbones and ruby-red lips, "What am I?" was the real question – it was the one he posed merely by existing.
Reubens died Sunday of cancer at the age of 70. He was an actor – but for a long time, he tried to convince the public that Pee-wee was a real person, not a character.
Folks didn't know what to make of Reubens' petulant man-child at first. Created in 1977, while Reubens was a member of the Los Angeles sketch troupe The Groundlings, Pee-wee was part prop comic, part brat and part trickster spirit. There was something fearless in Pee-wee, something unapologetic and brash that took you a second to process. The character was very obviously and intentionally what folks used to call a sissy – but how could a sissy own the stage like he did? Bask in the spotlight like he did? How could a sissy so confidently and explicitly dictate the terms for his audience on how to experience him?
The Pee-wee Herman Show at The Groundlings Theatre soon had LA hipsters lining up around the block for a midnight show that mixed puppets and parody with archival educational films – the precise fuel mixture that powered Reubens' later CBS Saturday morning show, Pee-wee's Playhouse.
It was never Peter Pan, what he was doing. Yes, Pee-wee was a boy who never grew up, but he was more than that — he was one singular adult's remembrance of what it was like being a kid. Specifically, of those parts of childhood we pretend not to see in our own children — the narcissism, the selfishness, the utter lack of basic human empathy. The monstrous bits.
In Pee-wee's Big Adventure, it manifested in his hilariously obsessive drive to recover his stolen bike — a quest which would cause him to trample on the feelings of friends like Amazing Larry (Lou Cutell) and Dottie (E.G. Daily). On Pee-wee's Playhouse, it took the form of gleeful admonitions to his viewers to "scream real loud" whenever anyone said the week's secret word. (Spare a thought for the long-suffering parents who'd hoped that sitting their kids in front of the TV would allow them a moment's peace to finish their coffee.) On 1988's magnificent holiday staple Pee-wee's Playhouse Christmas Special, Reubens zeroed in kids' ravenous greed for presents, turning Pee-wee into a monster who only reluctantly sees the light once guilted into it. (Like Scrooge, he's a lot more fun to hang around with before his last-minute epiphany.)
To watch Pee-wee was to re-experience childhood the way we'd forgotten it actually was – pure, concentrated, distilled to its essence, when riding your bike and playing with your toys and screaming real loud was all it took to fill a day. Pee-wee was a creature of impulse, anarchy and id – which is probably why Reubens' frequent appearances on Late Night with David Letterman helped launch him to stardom.
Reubens' silliness worked on a different frequency than Letterman's – Pee-wee was wilder and far less inhibited than Letterman could ever hope to be, and Letterman knew to play up his own tetchy, aggrieved discomfort at Pee-wee's hijinks for comedic effect. The two men vibrated at opposite ends of the comedic spectrum, but they worked together brilliantly. In those interview segments, which quickly devolved into Pee-wee's signature giggles, you laughed at Reubens' ability to take complete control of the experience, and at Letterman's entirely uncharacteristic willingness to give over the reins.
In the coming days, our social media feeds will fill up with a lot of Pee-wee's greatest hits – Large Marge; "Tequila!"; Jambi the Genie; Chairy; Reubens' extended and entirely improvised death scene in the Buffy the Vampire Slayer movie; "I'm a loner, Dot. A rebel."; and, of course, "Come on, Simone. Let's talk about your big 'but.'"
Me, though, I'll be putting on the aforementioned Pee-wee's Playhouse Christmas Special, because it will remind me of one of Reubens' most overlooked talents – his ability to sneak an artisanal blend of fey subversiveness into the mainstream. That special injected a defiantly, yet matter-of-fact, queer sensibility into the CBS primetime airwaves of Reagan's America: The Del Rubio Triplets! Zsa Zsa Gabor! Little Richard! Annette Funicello and Frankie Avalon! KD Lang! Charo! The LA Men's Chorus dressed up as a Marine choir! And, most indelibly, Grace Jones as green Gumby, drag singing a club mix of "The Little Drummer Boy."
Keep your "I meant to do that." Keep your dancing on the biker bar to "Tequila." The image of Reubens that I'll be holding closest to my heart over the next few days is of him rocking out in the background as Jones sings in the glare of the spotlight.
Because I swear you can see, in just the way he holds his body, the mischievous delight he's taking in what he's unleashing on an unsuspecting public: Grace Jones, ladies and gentlemen, delivered unto your living rooms, pulling up to the bumper of your cozy family holiday special, an entirely singular brand of weirdness served up to you hot and fresh, with a high, unselfconscious giggle.
Jennifer Vanasco contributed to earlier versions of this story.
Copyright 2023 NPR. To see more, visit https://www.npr.org.
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President Biden overturned a decision from the Trump administration to relocate the temporary headquarters of Space Command to Alabama, deciding instead to keep the base in Colorado.
The decision was made because Biden believes keeping the HQ in Colorado Springs, rather than relocating it to Huntsville, would maintain stability and not impact readiness, according to a senior U.S. official.
The senior administration official said Biden consulted with Defense Secretary Lloyd Austin and other military leaders before deciding to keep the base in Colorado permanently.
Gen. James Dickinson, the head of Space Command, also helped to convince Biden to not relocate the base, according to the Associated Press.
U.S. Space Command headquarters is set to achieve “full operational capability” at Colorado Springs later this month, according to the senior administration official.
The official said moving the headquarters to Alabama would force a transition process that does not allow the new base to open until the mid-2030’s.
“The President found that risk unacceptable, especially given the challenges we may face in the space domain during this critical time period,” the official said. “Locating Headquarters U.S. Space Command in Colorado Springs ensures peak readiness in the space domain for our nation during a critical period.”
Biden’s reversal is likely to spark the fury of Alabama Republicans who have for months feared the administration would scrap the relocation plan.
Alabama Rep. Mike Rogers (R), the chairman of the House Armed Services Committee, has been investigating the delay behind the relocation plan, which was first put in motion when Space Command was resurrected in 2019.
Former President Trump’s decision to temporarily establish a headquarters in Colorado and relocate Space Command to Alabama was criticized as a political choice based upon a more favorable constituency in the Yellowhammer state.
Since coming into office, the Biden administration ordered reviews of the decision, none of which found anything improper in Trump’s decision, though they found the former president could have followed better practices in the process.
The delayed relocation reached new heights over the spring when NBC News reported the Biden administration was considering scrapping the relocation plan because of restrictive abortion laws in Alabama.
Rogers and other Alabama Republicans objected to any such plan, saying Huntsville, also known as Rocket City, was selected based on its merits and in a fair process, while pointing to the reviews that found nothing improper.
The House version of the annual defense bill that passed earlier this month includes provisions that slash funding for the Air Force Secretary until the administration makes a final decision. It’s unclear whether Rogers will be satisfied with a reversal.
Other Alabama politicians, including Gov. Kay Ivey (R), are likely to also object to the decision.
Sen. Katie Britt (R-Ala.) said the base Redstone Arsenal in Alabama was the correct location based on its merits, arguing “Biden has irresponsibly decided to yank a military decision out of the Air Force’s hands in the name of partisan politics.”
“The President’s blatant prioritization of partisan political considerations at the expense of our national security, military modernization, and force readiness is a disservice and a dishonor to his oath of office as our nation’s Commander-in-Chief,” she said in a statement.
Colorado Sen. Michael Bennett (D) joined officials from his state in celebrating Biden’s decision.
“Over the past two and half years, we have repeatedly made the case that the Trump administration’s decision to relocate U.S. Space Command was misguided,” the senator wrote on the platform X, formerly known as Twitter.
“Today’s decision restores integrity to the Pentagon’s basing process and sends a strong message that national security and the readiness of our Armed Forces drive our military decisions,” he added.
Updated at 5:01 pm ET.
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CHICAGO – A leading anti-abortion organization criticized Republican Ron DeSantis on Monday for not supporting a national ban on the procedure, calling the Florida governor's position “unacceptable” as he seeks the GOP nomination for president.
The president of Susan B. Anthony Pro-Life America, an influential player in conservative politics, took issue with DeSantis' statements in a recent interview in which he declined to back a national abortion ban. SBA President Marjorie Dannenfelser said the anti-abortion movement and Americans across the U.S. deserve a president who will “boldly advocate” for a ban on abortion at 15 weeks of pregnancy.
“A pro-life president has a duty to protect the lives of all Americans. He should be the National Defender of Life," she said. “Gov. DeSantis’s dismissal of this task is unacceptable to prolife voters. A consensus is already formed. Intensity for it is palpable and measurable. There are many pressing legislative issues for which Congress does not have the votes at the moment, but that is not a reason for a strong leader to back away from the fight. This is where presidential leadership matters most."
DeSantis' campaign called the statement unjustified.
“Governor DeSantis delivers results and acts, especially when it comes to protecting life. He did so in Florida by signing the heartbeat bill and will be a pro-life president," Press Secretary Bryan Griffin said. "He does not kowtow to DC interest groups. This unjustified attack on him is another example of the DC political games that have seen conservatives falter in Washington while Governor DeSantis has produced unmatched conservative victories in Florida."
Susan B. Anthony Pro-Life America was responding to a recent interview in which Megyn Kelly asked DeSantis if he would support a national abortion ban. The U.S. Supreme Court last year overturned Roe v. Wade, the roughly 50-year-old ruling that established a federal right to abortion. Susan B. Anthony has said it would not support any White House candidate in 2024 who did not at a minimum support a 15-week federal ban.
In the interview, DeSantis noted he signed legislation in Florida to ban abortion at six weeks of pregnancy but suggested that individual states should decide the issue. He said he is “pro-life” but added that he is “running on doing things that I know I can accomplish.”
Democrats say the Supreme Court's decision and Republicans' focus on restricting abortion rights have helped motivate voters to favor more liberal candidates, and the party believes it will be a major factor again in 2024. Abortion rights were on the ballot in six states in 2022, and in every contest voters opted to protect them. In the battleground state of Wisconsin, a liberal candidate who made abortion rights a centerpiece of her campaign won an April election for a seat on the state's highest court.
A recent poll from The Associated Press-NORC Center for Public Affairs Research found that the majority of U.S. adults want abortion to be legal at least through the initial stages of pregnancy. About two-thirds of Americans said abortion should generally be legal, but only about a quarter said it should always be legal and only about 1 in 10 said it should always be illegal.
About half of Americans say abortions should be permitted at the 15-week mark, though 55% of those living in states with the most restrictive laws say abortion should be banned by that point, the poll found.
The criticism from a powerful organization comes at a tenuous time for DeSantis, who is seen as the top rival to former President Donald Trump for the GOP presidential nomination, but who has been running a distant second to Trump in public polling. DeSantis' campaign has been working in recent weeks to improve his trajectory and reboot his campaign, including cutting staff.
He is not alone in drawing criticism from Susan B. Anthony Pro-Life America, however. The group also was critical of Trump for not supporting the 15-week federal ban.
Trump has defended that position, noting he appointed the Supreme Court justices who made it possible for Roe v. Wade to be overturned. Trump also has said that Republicans' focus on restricting abortion
Some other Republicans seeking the nomination support the national ban. Former Vice President Mike Pence said he would go further, endorsing a ban at six weeks of pregnancy, or before some women know they are pregnant.
He told The Associated Press that abortion should be banned when a pregnancy isn’t viable — a standard that would force women to carry pregnancies to term even when doctors have determined there is no chance a baby will survive outside the womb.
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Associated Press reporter Michelle L. Price contributed from New York.
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MESA, Ariz., July 31, 2023 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the second quarter ended June 30, 2023, after market close on August 9, 2023.
Verra Mobility's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 9, 2023.
To access the conference call, dial 1-888-886-7786 (U.S. toll-free) or 1-416-764-8658 (International) with conference ID 11014275 or click on the following link and request a return call: callme.viavid.com. A live webcast will be available on the Company's Investor Relations website at ir.verramobility.com.
An audio replay of the call will also be available until 11:59 p.m. ET on August 23, 2023, by dialing 1-844-512-2921 (U.S. toll-free), or 1-412-317-6671 (International) and entering passcode 11014275.
In addition, an archived webcast will be available in the "News & Events" section of Verra Mobility's Investor Relations website at ir.verramobility.com.
About Verra Mobility
Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Verra Mobility's plans, objectives, expectations, beliefs and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. The forward-looking statements herein represent the judgment of the Verra Mobility, as of the date of this release, and Verra Mobility disclaims any intent or obligation to update forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information included in Verra Mobility's other press releases, reports and other filings with the SEC and on the SEC website, www.sec.gov. Understanding the information contained in these filings is important in order to fully understand Verra Mobility's reported financial results and our business outlook for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements.
Additional Information
We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com. We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts.
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Beijing has invested $25.4B in Pakistan over the last decade, Chinese vice premier says
By MUNIR AHMED
Associated Press
ISLAMABAD (AP) — Chinese Vice Premier He Lifeng says Beijing has invested $25.4 billion dollars in Pakistan in the past ten years under the China-Pakistan Economic Corridor, or CPEC package. The flagship project includes everything from the building of roads to power plants. The Chinese Vice Premier is in Pakistan to celebrate the 10th anniversary of the Belt and Road Initiative. CPEC is part of China’s Belt and Road Initiative, a global endeavor aimed at reconstituting the Silk Road and linking China to all corners of Asia. In Pakistan, it has been billed as a massive development program, which analysts say will bring new prosperity to the South Asian nation.
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THOUSAND OAKS, Calif., July 31, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its second quarter financial results on Thursday, August 3, 2023, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 1:30 p.m. PT. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team.
Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public.
The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's.
For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.
CONTACT: Amgen, Thousand Oaks
Jessica Akopyan, 805-440-5721 (media)
Elissa Snook, 609-251-1407 (media)
Arvind Sood, 805-447-1060 (investors)
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‘I’ll be able to walk again’: 6-year-old shot in road rage incident confident about her future
LOUISVILLE, Ky. (WAVE/Gray News) – A 6-year-old’s life may be changed forever after she was shot in the back during a road rage incident on July 10, but that’s not crushing the young girl’s spirit.
Onyx, 6, was in the car with her family when a road rage incident with a group of motorcyclists in Kentucky led to a shooting.
A bullet went through the girl’s back and she had to have emergency surgery.
Onyx has been recovering since and may never walk again. Being in a wheelchair is her new reality.
“I really liked going through the hallways to test it out,” Onyx said, talking about her wheelchair. “I wanted to do it again and then I did.”
The 6-year-old who just wants to dance and play is finding comfort in doing donuts in her wheelchair.
Onyx said she remembers leaving the park on July 10, getting in the car and the moment when she was shot.
“I remember getting carried into the hospital,” she recalled.
Those chain of events left Onyx’s mother, Chyna Sands, with the task of telling her daughter her new reality.
Sands said she told Onyx the bullet severed her back and she can’t use her legs like she used to – a conversation that is still setting in for the young girl.
She’s had to explain to Onyx that she must be in a wheelchair because she can’t walk.
But Onyx didn’t let this get her down too much. She said she is tired of people saying what she can’t do. To her, she has no doubt about what the future holds.
“I’ll be able to walk again, I know I will,” Onyx said with confidence. “I believe that I will be able to walk again.”
That mindset is what Sands says keeps her going.
As of right now, no one has been charged for the shooting which keeps Sands on edge.
“They want me to be patient, but I am out of patience,” Sands said. “I would like to see justice for an innocent 6-year-old who was minding her own business.”
While those responsible are out free, small things like getting into a car are now triggers of trauma.
“Because I got shot in the back, and I’m a little bit scared to get in the car because it brings back the memories,” Onyx said.
Hearing Onyx say that is a hard pill to swallow for a mother that loves to travel everywhere with her daughter.
“As her mom, I’m used to being her superhero,” Sands said. “I fix all of her problems and that’s something that I can’t fix.”
Copyright 2023 WAVE via Gray Media Group, Inc. All rights reserved.
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NEW YORK (AP) — When actor Casey Likes watched “Back to the Future” growing up, his mom would always say he reminded her a lot of the film’s star, Michael J. Fox. Something in the universe agrees: He’s taken on Fox’s classic movie role on Broadway.
The rising stage star plays Marty McFly for a musical adaptation of the beloved 1985 sci-fi comedy about a time-traveling duo who go back to the 1950s in a souped-up, gull-winged DeLorean.
“I remember growing up and just really, really loving the film. It kind of sat in that realm of like ‘E.T.’ and ‘Close Encounters’ — movies that came at a time when film was magical,” says Likes, 21. “I hope we accomplish something kind of similar with Broadway.”
The show, which won the Olivier Award for best new musical last year in London, arrives at the Winter Garden Theatre this summer with a story by Bob Gale, who previously co-created and co-wrote the movie with Robert Zemeckis. It hews very closely to the original, including having a DeLorean onstage and the shout “Great Scott!”
Broadway veteran and Tony Award-winner Roger Bart takes on Christopher Lloyd’s role of Doc Brown, the oddball scientist with a knack for inventions. Bart recalls seeing “Back to the Future” in his early 20s when it first appeared in movie theaters. He watched with three friends from theater school and they were all secretly jealous of Fox.
“None of my friends — even knowing each other as well as we did — none of them, including my mother, ever nudged me and said, ‘No, no, kid. You’re Doc Brown. Just be patient,’” the Tony-winner says laughing.
Like the film, the musical centers on Marty McFly traveling back to his hometown in 1955. Once there, he gets caught up in the soap opera lives of his own teenage parents, including his mom, who develops a crush on her future son. He must reconnect mom and dad or he risks disappearing from history.
“We feel like it’s very important – I’m sure Casey would agree — for the public to come to the show and recognize that they are seeing that story in a different form but with all of its charms very deeply intact,” says Bart, whose Broadway credits include “The Producers,” “Disaster!” and “Young Frankenstein.”
New songs have been crafted by the film’s composer Alan Silvestri and songwriter and producer Glen Ballard. Some Huey Lewis and the News songs from the movie also have been included, like the theme tune “The Power of Love” and “Back in Time,” as well as Marty McFly’s futuristic rendition of “Johnny B. Goode.”
“We go back to the ‘50s, you get some songs that sound like ’Grease,’ like ‘Bye Bye Birdie.’ And then we have some ‘80s moments in there that are very ’Footloose,’” says Likes. “It feels kind of like the greatest hits of not only rock ‘n’ roll, but of musical theater.”
While both men are fans of the films — and both got to meet the original stars at a gala last week — neither Bart nor Likes want to straightjacket themselves into the way Fox and Lloyd performed their roles.
“I don’t want to impersonate the movie. I want to remind you of the movie,” says Likes, who made his Broadway debut last year as the Cameron Crowe-inspired lead character of the musical “Almost Famous.”
“There’s a lot of things that Roger is doing that are similar, and there’s a lot of things that I’m doing that hopefully are similar to Michael. But we’re really just reminding you of their brilliance. Hopefully, at the same time, you’re able to kind of go along the journey with our Marty and Doc.”
In addition to being a cultural touchstone, “Back to the Future” was selected by the Library of Congress for preservation in the National Film Registry and the American Film Institute listed it as the No. 10 best science-fiction film. Bart thinks the movie’s staying power is because it manages to straddle many worlds.
There’s a time travel story and one about getting to know your parents as peers. There’s a love story between Marty’s parents and there’s also a buddy movie — Marty and Doc putting their friendship on the line.
“Between all of these elements, it answers so many of the things that we love about that era of moviemaking and storytelling,” says Bart. “I think that’s one of the reasons why it is has sort of stuck around so long.”
Not to mention the fact that audiences can appreciate the story at different parts of their lives. Kids can enjoy the thrills and special effects; adults can be moved by the notion of meeting their own moms and dads. “Part of its sustaining power is the fact that it can mean one thing at one age and another at another,” says Bart.
Likes also adds another reason: Marty initially only wants to get back to his own time period to reconnect with his girlfriend. But his reasons start to change — save Doc, save his family, save the world.
“As the show goes on, there’s more stacked up reasons as to why he has to get back. And I think that’s a really interesting thing to think about in our own life,” he says. “What would be our reasons to to get back to our current life?”
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Mark Kennedy can be reached at http://twitter.com/KennedyTwits
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NPR's Ailsa Chang talks with author C.K. Chau about her new book, Good Fortune — a Pride and Prejudice retelling with some delicious twists set in Chinatown in New York City during the early 2000s.
Copyright 2023 NPR
NPR's Ailsa Chang talks with author C.K. Chau about her new book, Good Fortune — a Pride and Prejudice retelling with some delicious twists set in Chinatown in New York City during the early 2000s.
Copyright 2023 NPR
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Editor’s note: This story has been updated to correct what was stolen. We regret the error.
BELEN, N.M. (KRQE) — A 6-year-old boy’s lemonade stand was burglarized last week in Belen, New Mexico, while he was trying to raise money for a good cause. After news spread about the theft, the community stepped up and rallied around him.
Connor Brock had a goal: raise $250 to donate to St. Jude Children’s Research Hospital as part of their “Lemonade Stand in July” challenge.
His parents were also raising money for Connor’s benefit: “Connor has autism level two, and we’ve used the lemonade stand not only to benefit St. Jude’s Children’s Hospital but also to teach Connor responsibility, to recognize the one dollar bill, the president on it, how to count money,” said Abbegale Brock, Connor’s mother. She wanted to teach him about things like empathy and compassion.
That all came to a halt when thieves stole snacks, drinks and equipment from the lemonade stand.
“I was just dumbfounded because we weren’t gone long. Went to get something to eat, and it didn’t make any sense. It was items that you wouldn’t even think anyone would take,” Brock recalled.
Brock said she had to explain to Connor what had happened: “I just told him somebody else must have needed it more than we did.”
This weekend, Connor found himself back in business when two motorcycle groups rallied dozens of bikers Saturday and Sunday to help out.
“We heard the unfortunate situation that happened to him last week, and we just wanted to stand behind him and come show some support and just let him know that we’re here, and we got his back,” said Marcos Jaramillo, president of Moose Riders Belen 1680.
Cup after cup, from Saturday to Sunday, donations came pouring in.
“I contacted all my folks, and we put it out there four days ago. Four days ago, we put this out there, and I believe we had over 56 bikes show up this morning,” said Andrew Witham, with Rogue Biker Life, “If you’re not a part of the solution, you’re definitely a part of the problem, and if we can help in any way shape or form, we’re going to.”
“As a biker community, what we’re saying as bikers is, we’re going to be there,” explained Toby Gutierrez, owner of Rogue Biker, “If you’re going to come out and do this, you can expect to see us.”
An anonymous donation of lemonade jars for Connor was also dropped off at the Belen Police Department, and Brock said the New Mexico Gas Company donated money and built him a new lemonade stand to use.
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Robert F. Kennedy Jr., who is running as a Democrat against President Joe Biden, tells many stories on the campaign trail about himself, his life's work and what he stands for that are the opposite of what his record actually shows.
The Associated Press found that Kennedy's insistence that he is not anti-vaccine doesn't square with his long record of opposition to vaccines. His claims that he is a true Democrat inheriting the mantle of his famous family are contradicted by his alignment with far right figures and support from Republicans. And despite listing the environment as a campaign priority, he has pushed bitcoin — a cryptocurrency that requires massive amounts of electricity from supercomputers to generate new coins, prompting most environmental advocates to loudly oppose it.
Kennedy's campaign is widely considered a long shot, but it's gained media attention due to his famous name and the possibility that his run could weaken Biden ahead of what is expected to be a close general election in 2024.
The campaign didn't return emails seeking comment about the contradictions in his candidacy.
Here are the key takeaways from the AP’s reporting:
KENNEDY'S ANTI-VACCINE RECORD
Kennedy told a congressional committee this month: “I have never been anti-vaxx. I have never told the public to avoid vaccination.” But Kennedy has a long record of anti-vaccine comments and rose to public prominence during the COVID-19 pandemic through the work of his anti-vaccine group, Children's Health Defense.
Just this month, Kennedy said in a podcast interview that “There’s no vaccine that is safe and effective” and told FOX News that he still believes in the long-ago debunked idea that vaccines can cause autism. In a 2021 podcast, he recalled telling people on hiking trails not to get their children vaccinated.
That same year, Kennedy appeared in a video promoting an anti-vaccine sticker campaign by his nonprofit. A sticker shown beside him declared “IF YOU’RE NOT AN ANTI-VAXXER YOU AREN’T PAYING ATTENTION.”
The AP found that anti-vaccine activists are at the heart of Kennedy's campaign. FEC records show several people paid to work on the campaign previously worked for Children's Health Defense.
Kennedy has also received substantial support from the anti-vaccine community.
Children’s Health Defense currently has a lawsuit pending against a number of news organizations, among them The Associated Press, accusing them of violating antitrust laws by taking action to identify misinformation, including about COVID-19 and COVID-19 vaccines.
ASSOCIATION WITH FAR RIGHT HAS RAISED KENNEDY'S PROFILE
Kennedy is running as a Democrat, yet he has aligned himself with far right figures who have worked to subvert American democracy.
He has appeared on Infowars, the channel run by Sandy Hook conspiracy theorist Alex Jones. He has granted interviews to former President Donald Trump ally Steve Bannon and Tucker Carlson. After he headlined a stop on the ReAwaken America Tour, the Christian nationalist road show put together by former Trump national security adviser Michael Flynn, he was photographed backstage with Flynn and Trump ally Roger Stone.
Those appearances have led to goodwill on the right. Trump supporters have floated a Trump-Kennedy unity ticket.
Kennedy’s run is also getting financial support from the right. A super PAC supporting Kennedy’s presidential run, called Heal the Divide PAC, has deep ties to Republicans, Federal Election Commission records show.
Kennedy denied knowing the PAC when it came up at a recent congressional hearing, but video available online shows he was a guest speaker at a Heal the Divide event just two days earlier.
SUPPORT FOR BITCOIN RUNS COUNTER TO ENVIRONMENTAL STANCE
Kennedy lists the environment as one of six top priorities on his campaign website and has spent many years speaking against pollution and climate change as an environmental lawyer. Yet he has made supporting the energy-intensive cryptocurrency bitcoin a key part of his platform.
Bitcoin mining, the process of generating new coins, uses massive amounts of electricity — more than some entire countries, experts say.
Kennedy has acknowledged the environmental downsides, but says he wouldn't let them hinder its use. He promotes the argument that demand for the cryptocurrency will boost investment in renewable energy projects.
Kennedy has invested between $100,001 and $250,000 in bitcoin, his financial disclosure documents show.
KENNEDY INVOKES HIS FAMOUS FAMILY, WHILE RELATIVES DENOUNCE HIM
Though Kennedy peppers his speeches, podcast appearances and campaign materials with invocations of the Democratic Party legacies of his uncle President John F. Kennedy and his father Robert F. Kennedy, his relatives have distanced themselves from him and even denounced him.
“He’s trading in on Camelot, celebrity, conspiracy theories and conflict for personal gain and fame,” Jack Schlossberg, President Kennedy’s grandson, said of his cousin in an Instagram video earlier this month. “I’ve listened to him. I know him. I have no idea why anyone thinks he should be president. What I do know is, his candidacy is an embarrassment.”
Kennedy’s recent comments that COVID-19 could have been “ethnically targeted” to spare Ashkenazi Jews and Chinese people — which he denies were antisemitic but concedes he should have worded more carefully — also drew a condemnation from his sister, Kerry Kennedy.
___ The Associated Press receives support from several private foundations to enhance its explanatory coverage of elections and democracy. See more about AP’s democracy initiative here. The AP is solely responsible for all content.
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Biden has decided to keep Space Command in Colorado, rejecting move to Alabama, officials tell AP
By LOLITA C. BALDOR and TARA COPP
Associated Press
WASHINGTON (AP) — President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama and ending months of politically fueled debate, according to senior U.S. officials.
The officials said Biden was convinced by the head of Space Command, Gen. James Dickinson, who argued that moving his headquarters now would jeopardize military readiness. Dickinson’s view, however, was in contrast to Air Force leadership, who studied the issue at length and determined that relocating to Huntsville, Alabama, was the right move.
The officials spoke on condition of anonymity to discuss the decision ahead of the announcement.
The president, they said, believes that keeping the command in Colorado Springs would avoid a disruption in readiness that the move would cause, particularly as the U.S. races to compete with China in space. And they said Biden firmly believes that maintaining stability will help the military be better able to respond in space over the next decade.
Biden’s decision is sure to enrage Alabama lawmakers and fuel accusations that abortion politics played a role in the choice. The location debate has become entangled in the ongoing battle between Alabama Republican Sen. Tommy Tuberville and the Defense Department over the move to provide travel for troops seeking reproductive health care. Tuberville opposed the policy is blocking hundreds of military promotions in protest.
Formally created in August 2019, the command was temporarily based in Colorado, and Air Force and Space Force leaders initially recommended it stay there. In the final days of his presidency Donald Trump decided it should be based in Huntsville.
The change triggered a number of reviews.
Proponents of keeping the command in Colorado have argued that moving it to Huntsville and creating a new headquarters would set back its progress at a time it needs to move quickly to be positioned to match China’s military space rise. And Colorado Springs is also home to the Air Force Academy, which now graduates Space Force guardians, and more than 24 military space missions, including three Space Force bases.
Huntsville, however, scored higher than Colorado Springs in a Government Accountability Office assessment of potential locations and has long been a home to some of earliest missiles used in the nation’s space programs, including the Saturn V rocket. It is home to the Army’s Space and Missile Defense Command.
According to officials, Air Force Secretary Frank Kendall, who ordered his own review of the matter, leaned toward Huntsville, while Dickinson was staunchly in favor of staying put. The officials said Defense Secretary Lloyd Austin presented both options to Biden.
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Funding by California Transportation Commission and Oregon Department of Environmental Quality
LONG BEACH, Calif., July 31, 2023 /PRNewswire/ -- On the heels of opening the nation's largest public charging depot for electric commercial trucks at the Port of Long Beach, WattEV announced today it has secured $40.5 million in grants to further expand its growing network of electric truck stops into Northern California and Oregon.
WattEV, the industry leader in heavy-duty freight electrification, has been awarded two separate grants: one for a solar-powered truck charging depot across Interstate 5 from the airfreight hub adjacent to Sacramento International Airport, and another for a grid-connected charging depot along Interstate 5 in Salem, Ore.
WattEV has secured a $34 million federal grant through the California Transportation Commission to build and operate what will become the nation's largest electric charging depot on more than 100 acres of land immediately south of Sacramento International Airport (SMF) on Interstate 5.
The SMF project is expected to open in mid- to late-2025 with 15.6 MW of solar power supplemented by 7.2 MW of grid power supplied by the Sacramento Municipal Utility District.
The SMF depot will have 30 DC fast chargers for passenger vehicles, 90 high-power CCS-1 cords for medium- and heavy-duty commercial electric vehicles, and 18 megawatt cords for pass-through charging of HD trucks using the upcoming Megawatt Charging Standard (MCS).
"We're proud to partner with WattEV as they continue to advance transition of U.S. trucking transport to zero emissions," said Cindy Nichol, Director of Sacramento County Department of Airports. "Sacramento International Airport's proximity to one of largest goods distribution centers in the state makes this an ideal location to serve California's 'electric highway.'"
WattEV was also awarded $6.5 million from the Oregon Department of Environmental Quality to build a 6-acre EV charging depot. The Salem, Ore., site will be grid-connected in cooperation with Portland General Electric.
Planning for the Salem electric truck stop includes 30 CCS 240 KW chargers and six MCS 1200 KW chargers. It's expected to open in 2025 as well.
"These grant awards will allow us to meet our plans to expand our network of electric-truck charging depots from the Mexican border to Portland, Oregon, via Interstate 5, on what government planners and industry stakeholders are calling the 'electric highway,'" explained WattEV co-founder and CEO Salim Youssefzadeh.
The grant for the SMF project comes from the U.S. Department of Transportation's "Trade Corridor Enhancement Program," which distributes funding through state transportation agencies.
"We're building out the West Coast corridor while also reaching eastward along the I-10 toward Arizona and Texas and, eventually, to the East Coast," Youssefzadeh said. "To expand the WattEV network, we'll match our grants with private capital to fund this massive infrastructure buildout."
WattEV selects the locations of its charging depots based on analysis of freight routes, range of electric trucks and energy supply.
"We picked our site in Sacramento because of its strategic location next to the Metro Air Park Logistics Center, where more than 10-million square-feet of warehouse space is planned," said Youssefzadeh, "and its close proximity to downtown Sacramento – just 10 minutes away."
Sacramento County and surrounding areas contain one of the largest concentrations of California's goods distribution centers, serving many of the largest shippers in the country.
The Sacramento Metropolitan Air Quality Management District (Sac Metro Air District) has committed to working closely with WattEV on the project as it will have significant air quality benefits for Sacramento.
"Emissions from fossil-fuel powered cars and trucks are the largest source of air pollution in the Sacramento region," said Sac Metro Air District Transportation and Climate Change Program Manager Raef Porter. "Over the past 25 years, the Air District has invested $300 million in clean air projects. We're proud to continue that commitment by partnering with WattEV on this transformative solar-powered, electric charging depot. Building new electric vehicle infrastructure is imperative to the successful transition to clean transportation and ensuring a clean air and low carbon future for all."
The SMF depot will initially serve as a charging hub for local and regional distribution centers, and later as a depot serving the north-south freight corridor stretching from WattEV's newly opened charging depot in the Port of Long Beach, connecting to Oregon and Washington state.
"We not only have the demand for regional distribution in Sacramento County," Youssefzadeh explained, "but we also have existing shippers asking us to transport freight from their logistic centers in the Los Angeles area to distribution centers of retailers in Sacramento."
About WattEV
WattEV's mission is to accelerate the transition of U.S. trucking transport to zero emissions. It relies on a combination of business and technology innovations to create charging infrastructure and data-driven workflow that provide truckers and fleet operators the lowest total cost of ownership. WattEV's goal is to get 12,000 heavy-duty electric trucks on California roads by the end of 2030, exceeding existing forecasts. More information is available online at www.WattEV.com.
About the Sac Metro Air District
The Sac Metro Air District is the leading Sacramento region agency responsible for monitoring air quality, reducing air pollution, enforcing air quality regulations, and promoting decarbonization efforts through innovative incentive programs and projects. The Air District also works to ensure clean air and meet National Ambient Air Quality standards. For more information about the Air District, please visit www.AirQuality.org.
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Jury poised to deliberate death penalty or life sentence for gunman in Pittsburgh synagogue massacre
PITTSBURGH (AP) — A jury is set to deliberate whether to impose the death penalty or a sentence of life in prison without parole on a man who spewed antisemitic hate before fatally shooting 11 worshippers at a synagogue in the heart of Pittsburgh’s Jewish community.
The same jurors who convicted 50-year-old Robert Bowers in June on 63 criminal counts listened to closing arguments Monday in the penalty phase of his federal trial, held nearly five years after the truck driver from suburban Baldwin perpetrated the deadliest attack on Jews in U.S. history.
Bowers defiled a place of worship when he entered the Tree of Life synagogue on Oct. 27, 2018, and opened fire with an AR-15 rifle, shooting everyone he could find in a mass murder clearly motivated by religious hatred, said U.S. Attorney Eric Olshan.
Bowers raved incessantly on social media about his hatred of Jewish people — using a slur for Jewish people some 400 times on a social media platform favored by the far right — and remains proud that he killed Jews, the prosecutor reminded jurors,
“Do not be numb to it. Remember what it means. This defendant targeted people solely because of the faith that they chose,” Olshan said.
He added: “This is a case that calls for the most severe punishment under the law: the death penalty.”
Bowers’ lead defense attorney, Judy Clarke, acknowledged the horror of his crimes but urged jurors to opt for a life sentence.
“What has happened cannot be undone. We can’t rewind the clock and make it that this senseless crime never happened. All we can do is make the right decision going forward. We are asking you to make the right decision, and that is life,” Clarke said in her closing argument.
A life sentence would mean that “prison is where Mr. Bowers will die in obscurity, not as a hero and not as a martyr,” she said.
Bowers’ attorneys have argued that he has schizophrenia, a serious brain disorder whose symptoms include delusions and hallucinations, and that Bowers attacked the synagogue out of a delusional belief that Jews were helping to bring about a genocide of white people by coming to the aid of refugees and immigrants. Clarke recounted Bowers’ history of psychiatric hospitalizations, including an extended stay in a residential juvenile mental health program.
The defense also presented evidence of Bowers’ difficult childhood.
Olshan disputed the defense experts’ diagnosis of schizophrenia, asserting that Bowers was not suffering psychosis but had chosen to believe white supremacist rhetoric. And while acknowledging that Bowers was a depressed, neglected child, Olshan downplayed the significance of it, noting that Bowers had held jobs, paid bills, and was an otherwise functioning adult.
“He was not a child, he was a grown man. He was responsible for his actions, not his family and things that happened decades earlier. He was, he is responsible for his actions,” Olshan said.
In order to impose death, jurors must find that aggravating circumstances, which make the crime especially heinous, outweigh mitigating factors that could be seen as diminishing his culpability. Those aggravating circumstances could include the vulnerability of Bowers’ elderly and disabled victims and his targeting of Jewish people.
Olshan played a composite of 911 calls made from inside the synagogue, including audio of people being shot and a survivor’s horrified screams.
He said Bowers had taken “11 people, 11 full lives, 11 people who loved their families, 11 people who loved their friends, 11 people who were loved. ... How do you measure the impact of all of that loss?”
The prosecutor spoke about 75-year-old Joyce Fienberg’s care for her family and 65-year-old Richard Gottfried’s devotion to his faith. He said Dr. Jerry Rabinowitz, 66, had the ethos of a country doctor: “He loved delivering babies but he never delivered judgment.” David Rosenthal, 54, and Cecil Rosenthal, 59, intellectually disabled brothers, “loved life,” Olshan said. “But maybe more than anything, they loved Tree of Life.”
The other deceased victims were Rose Mallinger, 97; Bernice Simon, 84, and her husband, Sylvan Simon, 86; Dan Stein, 71; Melvin Wax, 87; and Irving Younger, 69.
The attack also wounded seven people, including five responding police officers. Bowers was shot three times before surrendering when he ran out of ammunition.
___
Rubinkam reported from northeastern Pennsylvania.
Copyright 2023 The Associated Press. All rights reserved.
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RYE BROOK, N.Y., July 31, 2023 /PRNewswire/ -- Belle Haven Investments is proud to be Certified™ by Great Place To Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at Belle Haven Investments. This year, 93% of employees said it's a great place To Work – 36 points higher than the average U.S. company.
Great Place To Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
"Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience," says Sarah Lewis-Kulin, the Vice President of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. "By successfully earning this recognition, it is evident that Belle Haven Investments stands out as one of the top companies to work for, providing a great workplace environment for its employees."
Matt Dalton, CEO & CIO, expressed his excitement emphasizing "We owe the Firm's continued success to our dedicated and awesome employees. We celebrate and thank them for all they do to earn this incredible recognition."
About Belle Haven Investments
Belle Haven Investments is an independent, employee-owned asset manager that focuses exclusively on fixed income. They prioritize service, reliability, and customization, nurturing long-term partnerships with their clients. Their core values - trust and communication - permeate both external client relationships and internal team dynamics. The autonomy given to employees fosters trust, driving them to deliver their best work daily. To learn more, visit: https://www.bellehaven.com/
About Great Place to Work Certification™
Great Place To Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.
Contact:
Nicole Robbins
robbinsn@bellehaven.com
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ENGLEWOOD, Colo., July 31, 2023 /PRNewswire/ -- WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband provider in the United States, announced today it will host a webcast and conference call on Tuesday, August 8, 2023, at 8:00 a.m. ET to discuss financial and operating results for the second quarter 2023. WOW! will issue a news release reporting its results earlier that morning.
The conference call will be broadcast live on the company's investor relations website at ir.wowway.com. Those parties interested in participating via telephone should dial (888) 330-3556 with the conference ID number 4844814. International callers should dial (646) 960-0826 and use the same conference ID number.
A replay of the call will be available August 8, 2023, at 11:00 a.m. ET, on the investor relations website or by telephone. To access the telephone replay, which will be available until August 22, 2023, at 11:59 p.m. ET, please dial (800) 770-2030 or (647) 362-9199 and use conference ID 4844814.
About WOW! Internet, TV & Phone
WOW! is one of the nation's leading broadband providers, with an efficient and high-performing network that passes nearly 2 million residential, business and wholesale consumers. WOW! provides services in 15 markets, primarily in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia and Florida, including the new all-fiber network in Central Florida. With an expansive portfolio of advanced services, including high-speed Internet services, cable TV, home phone, mobile phone, business data, voice, and cloud services, the company is dedicated to providing outstanding service at affordable prices. WOW! also serves as a leader in exceptional human resources practices, having been recognized 10 times by the National Association for Business Resources as a Best & Brightest Company to Work For in the Nation, winning the award for the last six consecutive years and making the 2022 Top 101 National Winners list. Visit wowway.com for more information.
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LOS ANGELES (AP) — This year Whitney Houston would have turned 60, and a special celebration to raise money for a good cause is being planned for her birthday.
Houston’s estate, Sony and Primary Wave Music will host the 2nd annual Whitney Houston Legacy of Love on Aug. 9, which will benefit the late singer’s foundation aimed at helping young people.
Houston’s close friends BeBe Winans and Kim Burrell will perform at the gala at Atlanta’s St. Regis Hotel, as will Whitney’s brother, Gary, who toured with her for three decades.
“When I turned 50, Whitney gave me two celebrations — one in Ireland and one in London. I always tell everyone now that one of them was for her,” says Pat Houston, Whitney Houston’s sister-in-law and the executor of her estate. Houston died in February 2012 at age 48. “This year is Whitney at 60 — we’re all looking forward to being a part of the power of love in that room.”
Houston found the Whitney Houston Foundation for Children in 1989 with the goal of empowering youth, providing resources to unhoused children, giving out college scholarships, and raising funds for charities like the Children’s Defense Fund and St. Jude Children’s Research.
A charity auction will raise money for the foundation, which is now called the Whitney E. Houston Legacy Foundation.
“We’re going to auction off a beautiful lavender dress Dolly Parton wore when she sang ‘I Will Always Love You’ at Country Music Television’s ‘100 Greatest Love Songs of Country Music’ special in 2004,” says Pat Houston. “This dress is particularly special because it’s lavender, and lavender is Whitney’s favorite color.”
The song, originally written by Parton, was recorded by Houston and became one of her great, everlasting hits. The Recording Industry Association of America (RIAA) certified it diamond early last year, which means the track has sold and streamed 10 million equivalent units in the United States. It became her first diamond single, and made Houston the third woman to ever achieve diamond-status with both a single and an album, following Mariah Carey and Taylor Swift.
Clive Davis will serve as honorary chairman. Recording Academy President Harvey Mason jr. is scheduled to attend. Also expected are Gamma’s Larry Jackson and Whitney Houston’s musical director Rickey Minor.
“I always tell people, Whitney is the star,” Pat Houston said. “Everybody in that room is royalty, but she’s loyalty — and she’s still showing that.”
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(KTLA) – The Los Angeles County Sheriff’s Department is investigating the discovery of a body inside a 55-gallon drum in Malibu Lagoon on Monday.
A park worker first saw the drum floating by the Pacific Coast Highway bridge Sunday night but didn’t think much of it at the time, a spokesperson for the L.A. County Fire Department told Nexstar’s KTLA.
When lifeguards arrived at work Monday morning, they saw the drum in the lagoon and tried to pull it out at which point they discovered the body inside, officials said.
No information about the victim was immediately known.
KTLA helicopter footage showed the black plastic drum standing upright in shallow water and the beach appeared to be closed for the investigation.
Late last spring, a body was found in a barrel in Nevada’s Lake Mead. Authorities said the body may have been there for four decades but have not yet identified the victim, despite identifying other bodies that appeared due to receding water levels.
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CLEVELAND – The Cleveland Guardians traded starting pitcher Aaron Civale to the Tampa Bay Rays for first base prospect Kyle Manzardo on Monday.
The Guardians announced the trade on social media one day before the trade deadline.
Civale's name has been thrown around in trade speculation for weeks, which has coincided with the right-hander pitching as well as he has in several seasons. Civale posted a 1.45 ERA in six July starts.
On Sunday, Civale pitched six scoreless innings in a win over the Chicago White Sox to improve to 5-2.
The move is a bit surprising from Cleveland's standpoint since the Guardians are just one-half game out of first place in the AL Central and they have several pitchers, including ace Shane Bieber out with injuries.
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AP MLB: https://apnews.com/hub/mlb
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Colorado teen pleads not guilty to trying to join Islamic State group
By JESSE BEDAYN
Associated Press/Report for America
DENVER (AP) — A Colorado teen has pleaded not guilty to charges of attempting to provide material support to a designated foreign terrorist organization, the Islamic State group, from November 2022 until his arrest on July 14. Davin Meyer was sitting handcuffed at his arraignment Monday. Meyer was arrested earlier this month as he tried to board a plane to Turkey, allegedly to become a fighter for the Islamic State group. After he turned 18, Meyer began communicating over the internet with people he believed were IS facilitators, but who were actually undercover informants. The trial is not yet scheduled.
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TONYA MOSLEY, HOST:
This is FRESH AIR. The new podcast "Dreamtown: The Story Of Adelanto" is about a small California desert town that turns to legal cannabis sales to try to revive its small economy. Critic Nick Quah sees it as a worthy addition to a handful of podcasts he calls civic noir, examining small city life, corruption and renewal.
NICK QUAH, BYLINE: It's an image straight out of an old Western or the Bible. A small desert community finds itself on the brink of disaster when a stranger appears with a bold vision for the future. The dream was realized, and for a while, things were good until they weren't. In this case, the desert community is a tiny city called Adelanto, located just north of the greater Los Angeles area. Like so many other places in the United States, Adelanto was hard hit by the 2008 recession, and the city's finances were so dire it almost went bankrupt in 2014. That's when the stranger comes through. His name is John Woodard, but he goes by Bug. And the vision he brings is the dream of a modern gold rush - a legal marijuana economy.
(SOUNDBITE OF PODCAST, "DREAMTOWN: THE STORY OF ADELANTO")
DAVID WEINBERG: Bug's plan was to make Adelanto the first city in California to legalize commercial cannabis cultivation, which, it turns out, is a very difficult and complicated thing to pull off.
BETSY ZYKO: It's hard to overstate how much riskier and more dangerous the cannabis industry is because of the inconsistency between federal and state law.
WEINBERG: But still, Bug persisted. And his idea started to catch on with the rest of the city.
JOHN BUG WOODARD: The wheels are in motion. Ain't nobody getting in the way. I don't care if you're the sheriff. I don't care if you're the governor. I don't care who you are.
QUAH: Such is the setup for a limited audio documentary series called "Dreamtown: The Story Of Adelanto," the fascinating tale of crisis and capital told through the lens of a city's local politics. And just to paint a picture of how local the story is, in his quest to turn Adelanto into a legal weed hub, Bug runs for a seat on the city council and wins, spending only $700 on the effort. Adelanto's bet on weed pays off to some extent. And the city's finances begin to improve. But what starts out as a quirky tale of economic redevelopment quickly transforms into something else - a dense saga of shady real estate deals, zoning disputes and political corruption. Within a few years, federal investigators become a common sight in the city.
"Dreamtown" fits neatly into a growing podcast subgenre that digs into the drama and oddities of city lore. The vibe is a kind of civic noir, exemplified in recent years by podcasts like "California City," which recounts the tale of another false fortune in a desert, "Crooked City," which continues the documentarian Marc Smerling's interest in organized crime making the leap into local government, and "Boomtown," about a small West Texas city's transformation by the oil industry. These shows collectively capture an anxious, melancholic feeling around the fragility of local democracies, constantly vulnerable to forces beyond their control. That melancholia pervades "Dreamtown" as well.
The series is reported and hosted by David Weinberg, a veteran radio journalist. His best work, the nonfiction anthology series "Welcome To LA," is filled with stories about odd characters building colorful lives in and around Southern California. In many ways, "Dreamtown" is a continuation of that project, with its keen interest in the people that make up Adelanto and the way their lives are transformed by the larger shifts around them. Weinberg has a distinct style - quiet, observant, wry. He has a wonderful eye for vivid imagery, which he translates into evocative scenes written for the ear.
(SOUNDBITE OF PODCAST, "DREAMTOWN: THE STORY OF ADELANTO")
WEINBERG: Tim is in his 60s, collared dress shirt and a vape pen in hand as he navigated the poorly paved streets of Adelanto. In the distance are the peaks of the Angeles National Forest. All around us, Joshua trees were sticking up out of the ground. And along the side of the road were bulldozers flattening the land for the foundations of the massive warehouses that would soon be filled with weed.
QUAH: That understated approach serves the material well, given how ornate and bizarre things can get in "Dreamtown." One episode, for example, traces the story of another Adelanto city councilmember, Jermaine Wright, whose time in government ended with a federal prison sentence for taking a bribe to help open a cannabis business while also trying to commit insurance fraud by hiring someone to burn down his own restaurant.
(SOUNDBITE OF PODCAST, "DREAMTOWN: THE STORY OF ADELANTO")
WEINBERG: So Jermaine gave this fake electrician a tour of his restaurant. They set a date for the fire, and Jermaine paid him the money for the job. And it was actually kind of a steal. Apparently, it only costs 1,500 bucks to burn down someone's restaurant, at least, you know, if you're paying an FBI agent to do it. But before the scheduled torching, the FBI showed up to the restaurant with a search warrant. And they interviewed Jermaine, and he confessed.
QUAH: There is often a fable-like quality to "Dreamtown," which speaks to the somewhat archetypal nature of Adelanto's predicament. Across the United States, there are countless other rural cities grappling with some form of the same economic quandaries and ethical temptation. "Dreamtown" might seem like a Coen Brothers-esque caper, but it's fundamentally a story about what a city represents, the kinds of people who feel drawn to fight for its preservation and what can happen when you make a deal with forces you're not quite prepared to grapple with. Whether a fable or cautionary tale, one thing's for sure. It's a deeply American story.
MOSLEY: Nick Quah is a podcast critic for New York Magazine and Vulture. He reviewed "Dreamtown: The Story Of Adelanto," from Crooked Media. Tomorrow on FRESH AIR, award-winning actor Richard E. Grant joins us to talk about his new memoir, "A Pocketful Of Happiness," which chronicles his 35-year marriage to the late acclaimed dialect coach to the stars Joan Washington. I hope you can join us. To keep up with what's going on with the show and to get highlights of our interviews, follow us on Instagram at @NPRFreshAir.
(SOUNDBITE OF TEDDY WILSON'S "MOONGLOW")
MOSLEY: FRESH AIR's executive producer is Danny Miller. Our technical director and engineer is Audrey Bentham. A special thank you to Conor Anderson for engineering this show from WDET in Detroit. Our interviews and reviews are produced and edited by Amy Salit, Phyllis Myers, Sam Briger, Lauren Krenzel, Heidi Saman, Ann Marie Baldonado, Therese Madden, Thea Chaloner, Seth Kelley and Susan Nyakundi. Our digital media producer is Molly Seavy-Nesper. Roberta Shorrock directs the show. For Terry Gross, I'm Tonya Mosley.
(SOUNDBITE OF TEDDY WILSON'S "MOONGLOW") Transcript provided by NPR, Copyright NPR.
NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.
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San Francisco prosecutors lay out murder case against consultant in death of Cash App’s Bob Lee
SAN FRANCISCO (AP) — DNA from a bloody knife and video footage are crucial pieces of evidence against a tech consultant charged with murder in the stabbing death of Cash App founder Bob Lee, who was found bleeding on a deserted San Francisco street in April, prosecutors argued Monday.
The San Francisco prosecutor’s office began laying out its case against Nima Momeni, 38, at a preliminary hearing in which a judge will decide if there’s enough evidence to go to trial.
Prosecutors say Momeni planned the attack, drove Lee to a secluded spot and stabbed him three times after a dispute related to Momeni’s younger sister.
They have not spelled out a motive, but previously offered a timeline in a case that has drawn outsized media attention, partly due to Lee’s status in the tech world. Lee created Cash App, a mobile payment service, and was the chief product officer of the cryptocurrency MobileCoin.
Momeni, who has been in jail since his arrest April 13, has pleaded not guilty. He faces 26 years to life if convicted.
The arrest came more than a week after Lee, 43, was found in a deserted part of downtown San Francisco early April 4. He later died at a hospital.
On Monday morning, Assistant District Attorney Omid Talai introduced evidence, including photos of a knife that prosecutors say Momeni used to stab Lee, a trail of blood left by Lee as he staggered for help, and video footage showing the two men leave Momeni’s sister’s condo building before the stabbing.
Talai said at a May hearing that the weapon was part of a unique kitchen set belonging to his sister and that analysis showed Momeni’s DNA on the weapon’s handle and Lee’s DNA on the bloody blade. Police recovered a knife with a 4-inch (10-centimeter) blade at the scene.
Saam Zangeneh, one of Momeni’s lawyers, suggested to reporters Monday during a break that the investigation conducted by the San Francisco police was far from thorough.
He questioned why the rubber handle of the knife was tested for only DNA and not fingerprints. SFPD crime scene investigator Rosalyn Check said that it is difficult to get prints off rubber.
“When you want to see if someone’s touching something, you do fingerprint analysis, right?” he said. “And they weren’t done on the handle, which is the most important, relevant portion of who, if any, was handling that item.”
Zangeneh has yet to elaborate on the defendant’s version of events.
Momeni brought in Zangeneh and Bradford Cohen, both based in Florida. His first attorney, Paula Canny, withdrew in late May, citing a conflict of interest that she declined to disclose.
At prosecutors’ urging, Momeni has been held without bail. In arguing for release pending trial, Canny said that Momeni was not a flight risk and would not leave the two people he loves most, his sister and mother. She said Momeni needs to fight the charges or face deportation to Iran, a country that his mother fled when the children were younger to escape a violent husband.
An unnamed friend of Lee told homicide investigators they had been hanging out and drinking with Momeni’s sister the day before the stabbing, prosecutors said in their motion to deny bail.
The friend said Momeni later questioned Lee about whether his sister was doing drugs or otherwise engaging in inappropriate behavior and Lee said she had not.
Surveillance video showed Lee later entering the posh Millennium Tower downtown, where Momeni’s sister Khazar lives with her husband, prominent San Francisco plastic surgeon Dino Elyassnia. Video footage then showed Lee and Momeni leaving the building together shortly after 2 a.m. and driving off in Momeni’s car.
Lee was found shortly after 2:30 a.m. in the Rincon Hill neighborhood, which has tech offices and condominiums but little activity in the early morning hours.
Copyright 2023 The Associated Press. All rights reserved.
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NPR's Mary Louise Kelly speaks with actor Richard E. Grant about his memoir Pocketful of Happiness and how he has dealt with the grief of losing his wife to cancer after 38 years together.
Copyright 2023 NPR
NPR's Mary Louise Kelly speaks with actor Richard E. Grant about his memoir Pocketful of Happiness and how he has dealt with the grief of losing his wife to cancer after 38 years together.
Copyright 2023 NPR
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Delivered record-breaking second quarter performance in Total Revenues, Operating Profit and net new adds
Total Revenues up 25%; System Sales grew 32% in constant currency; Operating Profit increased 216%
Store openings accelerated, 655 net new adds in the first half, on track for full-year net new store target
SHANGHAI, July 31, 2023 /PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC and HKEX: 9987) today reported unaudited results for the second quarter ended June 30, 2023.
Second Quarter Highlights
- Total revenues increased 25% year over year to $2.65 billion from $2.13 billion (a 32% increase excluding foreign currency translation ("F/X")).
- Total system sales increased 32% year over year, with increases of 32% at KFC and 30% at Pizza Hut, excluding F/X. Growth was mainly attributable to same-store sales, new unit contribution and lapping of temporary store closures in the prior year.
- Same-store sales increased 15% year over year, with increases of 15% at KFC and 13% at Pizza Hut, excluding F/X.
- Opened 422 net new stores during the quarter; total store count reached 13,602, as of June 30, 2023.
- Operating Profit increased 216% year over year to $257 million from $81 million (a 228% increase excluding F/X), primarily driven by sales leveraging and margin expansion.
- Adjusted Operating Profit increased 215% year over year to $259 million from $82 million (a 227% increase excluding F/X).
- Restaurant margin was 16.1%, compared with 12.1% in the prior year period.
- Effective tax rate was 24.7%.
- Net Income increased 138% to $197 million from $83 million in the prior year period, primarily due to the increase in Operating Profit.
- Adjusted Net Income increased 137% to $199 million from $84 million in the prior year period (a 207% increase excluding the net loss of $9 million in the second quarter of 2023 and net gain of $16 million in the second quarter of 2022, from the mark-to-market equity investment in Meituan; a 219% increase if further excluding F/X).
- Diluted EPS increased 135% to $0.47 from $0.20 in the prior year period.
- Adjusted Diluted EPS increased 135% to $0.47 from $0.20 in the prior year period (a 206% increase excluding the net loss from the mark-to-market equity investments in the second quarter of 2023 and net gain in the second quarter of 2022; a 219% increase if further excluding F/X).
Key Financial Results
CEO and CFO Comments
Joey Wat, CEO of Yum China, commented, "We achieved outstanding results, delivering substantial growth in the top-line and bottom-line, in the second quarter, thanks to our teams' dedication and creativity. This once again demonstrates our anti-fragile business model and ability to capture opportunities in good times and stay resilient in bad times. Our innovative products and compelling value captured customer demand and drove double-digit same-store sales growth. KFC's "K-zza" and Pizza Hut's new menu items were hugely popular. Our exciting campaign with Genshin Impact and fun toy offerings with Sanrio and Pokemon spurred strong demand and brought consumers moments of joy. We registered record daily transactions of 8.5 million on Children's Day. Our amazing operations team, robust end-to-end digital capabilities and agile supply chain enabled us to flexibly handle surges in customer traffic through holiday periods and special marketing campaigns, while maintaining consistent quality and customer service. As a result of these collective efforts, our operating profit for the first half of this year already exceeded the entire year of 2022."
Wat continued, "We accelerated the pace of new store openings in the second quarter and celebrated two milestones. Pizza Hut surpassed 3,000 stores in China and KFC exceeded 500 stores in Shanghai alone. With 655 net new stores in the first half of 2023, we are on track to meet our expansion goals for the year. Importantly, new store payback periods remain healthy. Furthermore, we see abundant white space in China. With a presence in 1,900 cities, we are still tracking over 800 cities without a KFC. Similarly, Pizza Hut has a great potential for expanding its footprint. With our flexible store formats, we continue to expand addressable markets across city tiers. By actively pursuing our RGM (Resilience-Growth-Moat) strategy and leveraging our industry-leading strengths, we are confident in our ability to capture long-term growth opportunities."
Andy Yeung, CFO of Yum China, added, "We delivered record second-quarter revenues and profits, despite challenging macro conditions and an uptick of COVID infections during the quarter. When customer demand softened in May, we adjusted nimbly to address consumer needs, captured holiday spending and successfully regained sales momentum. Sales growth and proactive cost structure rebasing helped us improve operating leverage, expanding restaurant margins and delivering record operating profit in the quarter. Even though same-store sales remained below 2019 levels, our revenue in the second quarter has increased by 25% and operating profits have risen by 26% compared to pre-pandemic levels in 2019."
"As we move into the third quarter, driving sales remains our top priority. We have lined up exciting marketing campaigns and resources to seize sales opportunities in the peak summer season. Our efforts on efficiency improvement and cost structure rebasing should continue to benefit profitability in the long run. But, it is worth noting that last year's record third-quarter restaurant margins set a relatively high benchmark, due to austerity measures and temporary reliefs. We will continue to stay agile through evolving market conditions, expand our store network and fortify our competitive moat to drive sustainable long-term growth," Yeung concluded.
Share Repurchases and Dividends
- During the second quarter, the Company repurchased approximately 1 million shares of Yum China common stock for $62 million at an average price of $60.23 per share. As of June 30, 2023, approximately $1 billion remained available for future share repurchases under the current authorization.
- The Board declared a cash dividend of $0.13 per share on Yum China's common stock, payable on September 18, 2023 to shareholders of record as of the close of business on August 28, 2023.
Digital and Delivery
- The KFC and Pizza Hut loyalty programs exceeded 445 million members combined, as of quarter-end. Member sales accounted for approximately 66% of system sales in the second quarter of 2023.
- Delivery contributed approximately 35% of KFC and Pizza Hut's Company sales in the second quarter of 2023, a decrease of 3% compared with the prior year period.
- Digital orders, including delivery, mobile orders and kiosk orders, accounted for approximately 90% of KFC and Pizza Hut's Company sales in the second quarter of 2023.
New-Unit Development and Asset Upgrade
- The Company opened 422 net new stores in the second quarter of 2023, mainly driven by development of the KFC and Pizza Hut brands.
- The Company remodeled 171 stores in the second quarter of 2023.
Restaurant Margin
- Restaurant margin was 16.1% in the second quarter of 2023 compared with 12.1% in the prior year period, driven primarily by sales leveraging and ongoing benefits of cost structure rebasing efforts; partially offset by lapping austerity measures in the prior year, higher promotion costs, and wage inflation.
2023 Outlook
The Company's fiscal year 2023 targets remain unchanged:
- To open approximately 1,100 to 1,300 net new stores.
- To make capital expenditures in the range of approximately $700 million to $900 million.
Company Updates
- On July 17, 2023, the Company announced the appointment of Mr. David Hoffmann to the Board of the Directors. With this appointment, the Board is now comprised of 10 directors, nine of whom are independent.
Note on Non-GAAP Measures
Reported GAAP results include Special Items, which are excluded from non-GAAP adjusted measures. Special Items are not allocated to any segment and therefore only impact reported GAAP results of Yum China. See "Reconciliation of Reported GAAP Results to Non-GAAP Adjusted Measures" within this release. In addition, for the non-GAAP measures of Restaurant profit and Restaurant margin, see "Reconciliation of GAAP Operating Profit to Restaurant Profit" under "Segment Results" within this release.
Conference Call
Yum China's management will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on Monday, July 31, 2023 (8:00 a.m. Beijing/Hong Kong Time on Tuesday, August 1, 2023).
A live webcast of the call may be accessed at https://edge.media-server.com/mmc/p/4rchbbk4/.
To join by phone, please register in advance of the conference through the link provided below. Upon registering, you will be provided with participant dial-in numbers, a passcode and a unique access PIN.
Pre-registration Link: https://s1.c-conf.com/diamondpass/10031360-wcv829.html
A replay of the conference call will be available one hour after the call ends until Tuesday, August 8, 2023 and may be accessed by phone at the following numbers:
Additionally, this earnings release, the accompanying slides, as well as the live and archived webcast of this conference call will be available at Yum China's Investor Relations website at http://ir.yumchina.com.
For important news and information regarding Yum China, including our filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange, visit Yum China's Investor Relations website at http://ir.yumchina.com. Yum China uses this website as a primary channel for disclosing key information to its investors, some of which may contain material and previously non-public information.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including under "2023 Outlook." We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook," "commit" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding the future strategies, growth, business plans, investment, dividend and share repurchase plans, earnings, performance and returns of Yum China, anticipated effects of population and macroeconomic trends, the expected impact of the COVID-19 pandemic, pace of recovery of Yum China's business, the anticipated effects of our innovation, digital and delivery capabilities and investments on growth and beliefs regarding the long-term drivers of Yum China's business. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: whether we are able to achieve development goals at the times and in the amounts currently anticipated, if at all, the success of our marketing campaigns and product innovation, our ability to maintain food safety and quality control systems, changes in public health conditions, including the COVID-19 pandemic, our ability to control costs and expenses, including tax costs, as well as changes in political, economic and regulatory conditions in China. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.
About Yum China Holdings, Inc.
Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has over 400,000 employees and operates over 13,000 restaurants under six brands across 1,900 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. Taco Bell offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com.
In this press release:
- The Company provides certain percentage changes excluding the impact of foreign currency translation ("F/X"). These amounts are derived by translating current year results at prior year average exchange rates. We believe the elimination of the F/X impact provides better year-to-year comparability without the distortion of foreign currency fluctuations.
- System sales growth reflects the results of all restaurants regardless of ownership, including Company-owned, franchise and unconsolidated affiliate restaurants that operate our restaurant concepts, except for non-Company-owned restaurants for which we do not receive a sales-based royalty. Sales of franchise and unconsolidated affiliate restaurants typically generate ongoing franchise fees for the Company at an average rate of approximately 6% of system sales. Franchise and unconsolidated affiliate restaurant sales are not included in Company sales in the Condensed Consolidated Statements of Income; however, the franchise fees are included in the Company's revenues. We believe system sales growth is useful to investors as a significant indicator of the overall strength of our business as it incorporates all of our revenue drivers, Company and franchise same-store sales as well as net unit growth.
- Effective January 1, 2018, the Company revised its definition of same-store sales growth to represent the estimated percentage change in sales of food of all restaurants in the Company system that have been open prior to the first day of our prior fiscal year, excluding the period during which stores are temporarily closed. We refer to these as our "base" stores. Previously, same-store sales growth represented the estimated percentage change in sales of all restaurants in the Company system that have been open for one year or more, including stores temporarily closed, and the base stores changed on a rolling basis from month to month. This revision was made to align with how management measures performance internally and focuses on trends of a more stable base of stores.
- Company sales represent revenues from Company-owned restaurants. Company Restaurant profit ("Restaurant profit") is defined as Company sales less expenses incurred directly by our Company-owned restaurants in generating Company sales, including cost of food and paper, restaurant-level payroll and employee benefits, rent, depreciation and amortization of restaurant-level assets, advertising expenses, and other operating expenses. Company restaurant margin percentage is defined as Restaurant profit divided by Company sales.
- Certain comparative items in the Condensed Consolidated Financial Statements have been reclassified to conform to the current period's presentation to facilitate comparison.
Reconciliation of Reported GAAP Results to Non-GAAP Adjusted Measures
(in millions, except per share data)
(unaudited)
In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") in this press release, the Company provides non-GAAP measures adjusted for Special Items, which include Adjusted Operating Profit, Adjusted Net Income, Adjusted Earnings Per Common Share ("EPS"), Adjusted Effective Tax Rate and Adjusted EBITDA, which we define as net income including noncontrolling interests adjusted for equity in net earnings (losses) from equity method investments, income tax, interest income, net, investment gain or loss, certain non-cash expenses, consisting of depreciation and amortization as well as store impairment charges, and Special Items. We also use Restaurant profit and Restaurant margin (as defined above) for the purposes of internally evaluating the performance of our Company-owned restaurants and we believe Restaurant profit and Restaurant margin provide useful information to investors as to the profitability of our Company-owned restaurants.
The following table set forth the reconciliation of the most directly comparable GAAP financial measures to the non-GAAP adjusted financial measures. The reconciliation of GAAP Operating Profit to Restaurant Profit is presented in Segment Results within this release.
Net income, along with the reconciliation to Adjusted EBITDA, is presented below:
Details of Special Items are presented below:
(1) In February 2020, the Company granted Partner PSU Awards to select employees who were deemed critical to the Company's execution of its strategic operating plan. These PSU awards will only vest if threshold performance goals are achieved over a four-year performance period, with the payout ranging from 0% to 200% of the target number of shares subject to the PSU awards. Partner PSU Awards were granted to address increased competition for executive talent, motivate transformational performance and encourage management retention. Given the unique nature of these grants, the Compensation Committee does not intend to grant similar, special grants to the same employees during the performance period. The impact from these special awards is excluded from metrics that management uses to assess the Company's performance.
(2) The tax expense was determined based upon the nature, as well as the jurisdiction, of each Special Item at the applicable tax rate.
The Company excludes impact from Special Items for the purpose of evaluating performance internally. Special Items are not included in any of our segment results. In addition, the Company provides Adjusted EBITDA because we believe that investors and analysts may find it useful in measuring operating performance without regard to items such as equity in net earnings (losses) from equity method investments, income tax, interest income, net, investment gain or loss, depreciation and amortization, store impairment charges, and Special Items. Store impairment charges included as an adjustment item in Adjusted EBITDA primarily resulted from our semi-annual impairment evaluation of long-lived assets of individual restaurants, and additional impairment evaluation whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. If these restaurant-level assets were not impaired, depreciation of the assets would have been recorded and included in EBITDA. Therefore, store impairment charges were a non-cash item similar to depreciation and amortization of our long-lived assets of restaurants. The Company believes that investors and analyst may find it useful in measuring operating performance without regard to such non-cash item.
These adjusted measures are not intended to replace the presentation of our financial results in accordance with GAAP. Rather, the Company believes that the presentation of these adjusted measures provides additional information to investors to facilitate the comparison of past and present results, excluding those items that the Company does not believe are indicative of our ongoing operations due to their nature.
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