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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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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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https://www.apr.org/science-health/science-health/2023-07-31/after-losing-his-wife-richard-e-grant-has-found-a-daily-pocketful-of-happiness
| 2023-07-31T21:19:08
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https://www.apr.org/science-health/science-health/2023-07-31/after-losing-his-wife-richard-e-grant-has-found-a-daily-pocketful-of-happiness
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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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https://www.ktre.com/prnewswire/2023/07/31/t-rowe-price-group-declares-quarterly-dividend/
| 2023-07-31T21:19:10
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https://www.ktre.com/prnewswire/2023/07/31/t-rowe-price-group-declares-quarterly-dividend/
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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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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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| 2023-07-31T21:19:17
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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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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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| 2023-07-31T21:19:23
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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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| 2023-07-31T21:19:25
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https://www.kswo.com/prnewswire/2023/07/31/t-rowe-price-group-declares-quarterly-dividend/
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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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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.kswo.com/prnewswire/2023/07/31/ten-oaks-group-expands-capabilities-with-strategic-hires/
| 2023-07-31T21:19:32
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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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https://www.ktre.com/prnewswire/2023/07/31/wideopenwest-inc-announce-second-quarter-2023-financial-results/
| 2023-07-31T21:19:36
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https://www.ktre.com/prnewswire/2023/07/31/wideopenwest-inc-announce-second-quarter-2023-financial-results/
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KENT, Wash. — The man accused of hitting and killing a 12-year-old boy riding a scooter in Kent pleaded not guilty Monday in a King County Courthouse.
Carson Quinlin faces charges of vehicular homicide and reckless driving after he lost control of his truck and drove onto the shoulder, colliding with and killing Gabriel Coury on July 11, according to court documents.
Quinlin, 19, also is charged with possession of a pistol or semiautomatic rifle after a homemade loaded gun was found under his driver's seat.
The Kent Police Department and Puget Sound Fire responded to the intersection of 132nd Avenue SE and SE 230th Street just after 7 p.m.
Quinlin told police at the scene that he had been traveling southbound on 132nd Avenue SE when he passed slower-moving traffic by driving into the northbound lanes of the roadway. He lost control as he was coming back into the southbound lanes, and eventually drove onto the shoulder, where he struck a parked car.
The defendant admitted to having drank four Twisted Teas and smoked marijuana before driving the truck, and a portable breath test conducted after the crash found Quinlin's blood alcohol content was twice the legal limit.
Coury was riding his scooter home from a friend's house when he was hit by Quinlin's truck and ejected onto the sidewalk. Life-saving measures were attempted, but Coury was pronounced dead at the scene.
Coury’s parents spoke to KING 5 shortly after their son's death.
“On his way home, he texted ‘I’m on my way. I’m leaving.’ I said ‘OK, bud. I’ll see you soon,’” his mom Shellie Coury said.
"He was selfless, loving, caring, kind – mature behind imagination,” his dad Michael Coury said. A GoFundMe has been set up for their family.
More than 100 people gathered earlier this month to honor the life of the young athlete. He was a catcher that was making the transition from Little League to competitive ball.
“They’re starting to put all those fundamentals together and actually really starting to play the game the way it should be played,” said Steve Pettit, Coury’s Little League coach.
Both of his coaches described a talented baseball player who was too kind to be aggressive – something they were working on together. A pain of loss, a wonder of what could have been that the whole team is carrying.
“The last week has been horrible. My kids went to school with him, my son was on the same team as him, so it’s been rough in my house,” Pettit continued.
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https://www.king5.com/article/news/crime/man-accused-killing-12-year-old-scooter-pleads/281-c8f44803-66d4-43f3-a3f5-48333e1b5c85
| 2023-07-31T21:19:38
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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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| 2023-07-31T21:19:39
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OKANOGAN COUNTY, Wash. — A wildfire burning in Okanogan County has resulted in Level 2 (Be Ready to Leave!) evacuations on both east and west sides of State Route 97 near the border of Oroville.
The fire, known as the Eagle Bluff Fire, has burned an estimated 10,000 acres as of 2:45 p.m. on Sunday afternoon. According to Okanogan County Emergency Management (OCEM), a Red Cross Shelter has been set up at Oroville High School at 1008 Ironwood St in Oroville.
So far 27 people used the shelter overnight.
Evacuees should leave south towards Oroville. OCEM says people needing shelter for their animals can go to the Tonasket Rodeo Grounds. The address is 12 Rodeo Rd in Tonasket.
So far, three buildings burned in the fire. OCEM believes the fire is man-caused, but is still under investigation.
The fire also crossed the border into Canada where it's burned over 2,100 acres according to the British Columbia Wildlife Service.
The total acreage burned across the U.S.-Canada border is over 12,000 acres.
OCEM said the fire's calm down since it started Saturday afternoon, but it remains very active.
State mobilization's been authorized for this fire, according to the Washington State Patrol.
Red Cross officials said assistance at the shelter will include food, cots and other urgent needs. However, they're encouraging evacuees to bring the following for each family member: prescription and emergency medication, extra clothing, pillows, blankets, hygiene supplies, important documents and other comfort items.
The Red Cross also recommends special items for children and infants, such as diapers, formulas & toys, should also be brought, along with other items for family members who may have other needs.
This is a developing story and will be updated as more information is made available.
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To report a typo or grammatical error, please email webspokane@krem.com.
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https://www.king5.com/article/news/eagle-bluff-fire-oroville-latest-updates/293-23a864f7-54e7-4271-b920-3b3d8f95f1ff
| 2023-07-31T21:19:42
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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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| 2023-07-31T21:19:43
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WASHINGTON — Paul Reubens, the actor and comedian best known for his character Pee-wee Herman, has died at 70 years old after a years-long battle with cancer that he did not make public. The Monday announcement of his death was met with an immediate outpouring of grief from his friends and colleagues in the entertainment industry.
"Russian Doll" star Natasha Lyonne, who made her acting debut at 6 years old on the first season of "Pee-wee's Playhouse," shared images from the hit television series on social media.
"Love you so much, Paul. One in all time. Thank you for my career & your forever friendship all these years & for teaching us what a true original is," she wrote, adding several heart emojis and one emoji of a broken heart.
Lyonne was one of many actors and comedians who described Reubens as a friend or mentor, sharing photos or personal stories.
"No tweet can capture the magic, generosity, artistry, and devout silliness of Paul Reubens. Everyone I know received countless nonsensical memes from Paul on their birthday, and I mean EVERYONE. His surreal comedy and unrelenting kindness were a gift to us all. Damn, this hurts.
"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. My family and I will miss him."
"Paul Reubens was a great, great friend. He gave me the muppets for my birthday and never forgot anyone’s birthday from our class. He was in my class at CalArts and we had the same business manager. He was always kind to me and to everyone. He will be missed."
"Paul Reubens was a gifted performer and a nice person. He brought so much joy to people over the years as Pee Wee, my sister and I loved that character. I was privileged to work with him in a film and he was as great in real life as he was on screen. Tough news here."
"This is devastating. Truly heartbreaking. Paul was such a comedy genius. From his Letterman appearances to his TV shows and movies, he was so original and hilarious. And such a sweet man too. This is a huge loss for comedy. Thanks for all the laughs, Paul."
"One of the patron saints of all misfitted, weird, maladjusted, wonderful, miraculous oddities."
"One of the greats is gone. It is a very sad day. Thank you for the joy, @peeweeherman. Chris and I were so proud to call you friend. You will live in our hearts forever, Paul.
"The greatest. No one ever like him ever."
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https://www.king5.com/article/news/nation-world/paul-reubens-death-fellow-comedians-actors-react/507-a2fda3a4-b718-4ac5-b043-7e28c12e4296
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LEWISTON, Maine — On Wednesday, Friday, and Saturday mornings before doors open at 8 a.m., rising high school sophomore Zara Bimbi is hard at work. Despite her young age, she's the manager at the Common Grounds Café, located on Birch Street in Lewiston. So far, she has learned the job comes with a lot of responsibility, and no day ever looks quite the same.
Bimbi has been working at the coffee shop since last summer, a few months after it first opened. This isn't your normal neighborhood hang, though.
Common Grounds Café is run primarily by teenagers, like Zara, many of whom are asylum seekers and immigrants. It's a program by the nonprofit The Root Cellar, designed to create connections among different people and give teenagers work experience.
"I think the quicker we can learn as a community that we are all in this together, that we want the city to flourish and grow, the quicker we'll be able to do that together," Damon Crouse, a program coordinator with The Root Cellar, said.
Crouse said the decision to house Common Grounds Café in Lewiston was intentional. For more than a decade, diversity has been growing in that city, but it hasn't always been welcomed with open arms. There are also a lot of socioeconomic challenges.
"I noticed our community, specifically the tree streets, kind of lack[ed] an accessible café experience. We live in a low-income part of Lewiston," Crouse said.
Now, though, that is starting to change. Crouse said even the mayor and city councilmen have come to visit Common Grounds Café. He said he has been very impressed by his teenage employees, who he credits with the café's success.
"They created the mission statement," Crouse said, later adding, "Our next generation is something to look forward to. They have awesome ideas. They are driven."
"I think it's leadership, teamwork, and finding a way to understand people," Bimbi said about the skills she has taken with her from the manager role so far.
Bimbi said she had seen many of the other teenagers who work at the café at school, but she never knew them personally. This experience has changed that.
"When you meet people here, the conversations that you have sometimes you would never think you'd have conversations with them," Bimbi said. "It's really fun to get to know people in your community."
For other young people like Cley Cabral of Angola, working at Common Grounds Café has helped him learn English within a year. Cabral said now, he's working at Chipotle.
"They teach me job experience. Now, I got my job," Cabral said.
Alyssa McKay, a program manager with The Root Cellar, said the nonprofit opened originally on Munjoy Hill in 1984 and in Lewiston in 2009. McKay said The Root Cellar offers a lot of other programs for adults and kids, too, like English language learning classes, food security help, and summer day camp opportunities.
McKay has been with the nonprofit for more than a decade and said Common Grounds Café embodies The Root Cellar's mission.
"I think the first part is knowing our neighbors," McKay said. "It's really hard to love someone without knowing them."
You can learn more about The Root Cellar here. Common Grounds Café is open from 8 to 10 a.m. on Wednesdays and Fridays and from 8 to 11 a.m. on Saturdays.
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https://www.newscentermaine.com/article/news/community/lewiston-coffee-shop-common-grounds-cafe-the-root-cellar-promotes-diversity-work-experience-for-teenage-asylum-seekers-refugees/97-5404e18b-b654-48bd-bcb1-3c48e0fa09fc
| 2023-07-31T21:19:47
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18-year-old from ‘Brainy Bunch’ family graduates with master’s degree
MONTGOMERY, Ala. (WSFA/Gray News) – At age 18, most people are just heading into their freshman year of undergraduate studies. But one 18-year-old from Alabama is graduating with her master’s degree.
Marianna Harding is graduating from Auburn University with a master’s degree in agriculture at the age of 18.
She also graduated from high school at age 11.
Harding comes from a Montgomery family known as “The Brainy Bunch” – she is one of 10 children, most of whom started college by the age of 12. One of the boys even graduated law school at 19.
All the children grew up homeschooled. Harding is the eighth child in the family.
She said there was always healthy competition between siblings.
“We all had different interest levels, and most of us different colleges,” she said.
In 2022, Harding earned her bachelor’s degree virtually from a university in Nebraska. Shortly after, she was off to Auburn’s campus to get her master’s degree.
“Although my focus was very much on studies, there was no lack of fun times,” she said.
While on campus, Harding was part of multiple clubs, a campus employee, and kept active in her church. She hopes that her story will encourage others to go after their goals no matter their age.
Now that she has graduated, Harding will begin working for the Lee County Extension where she’ll teach others about agriculture.
Parents Kip and Mona Lisa Harding made an appearance on NBC’s “Today Show” in 2014 to discuss their book, “The Brainy Bunch: The Harding Family’s Method to College Ready by Age Twelve.” They also have a YouTube channel.
“My kids are not any smarter than anybody else’s, they’re really motivated and they’re very hard working, but really feel like anyone can get these kinds of results,” Mona Lisa Harding said during a 2021 interview.
Copyright 2023 WSFA via Gray Media Group, Inc. All rights reserved.
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https://www.wymt.com/2023/07/31/18-year-old-brainy-bunch-family-graduates-with-masters-degree/
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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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CASCO, Maine — A Windham man was charged and arrested Sunday evening after reportedly threatening a Maine game warden with a handgun near a Casco campground.
At about 5:30 p.m. Sunday, the Maine Warden Service responded to complaints about a boater acting erratically on Sebago Lake near Point Sebago campground, the Maine Department of Inland Fisheries & Wildlife said in a news release.
When a game warden deputy approached the boater at the scene, the boater reportedly pointed a pistol at him and threatened him, according to the release.
Keeping his distance from the boater, the game warden radioed for assistance and secured the area on the water making sure no one else approached the boater, the release stated.
Additional game wardens, Cumberland County sheriff's deputies, and a state trooper responded to the scene for assistance. The MDIFW said the Cumberland County Sheriff's Emergency Services Unit managed to start dialogue with the boater and later arrest him without incident.
Arrested was 60-year-old Timothy Flick. He was taken to the Cumberland County Jail and charged with criminal threatening with a dangerous weapon, aggravated reckless conduct, and obstructing government administration, the release said.
No additional details were released.
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https://www.newscentermaine.com/article/news/crime/man-charged-after-threatening-game-warden-with-handgun-in-casco-point-sebago-campground-resort-lake/97-166588bd-e651-425c-b6b8-32114eddecc5
| 2023-07-31T21:19:53
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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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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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https://www.kswo.com/prnewswire/2023/07/31/wideopenwest-inc-announce-second-quarter-2023-financial-results/
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WASHINGTON — Martin's Point Health Care Inc. agreed Monday to pay $22,485,000 in order to resolve allegations that it violated the False Claims Act between 2016 and 2019.
The U.S. Department of Justice said in a news release Monday that the organization allegedly violated the act by "submitting inaccurate diagnosis codes for its Medicare Advantage Plan enrollees in order to increase reimbursements from Medicare."
Martin's Point operates Medicare Advantage Plans, or MA Plans, for beneficiaries who are living in Maine and New Hampshire, the DOJ said.
"The United States alleged that, from 2016 to 2019, Martin’s Point engaged in chart reviews of their Medicare Advantage beneficiaries to identify additional diagnosis codes that had not been submitted to Medicare," the release stated. "Many of the additional codes submitted, however, were not properly supported by the patients’ medical records. The government alleged that Martin’s Point nevertheless submitted those diagnosis codes, which resulted in higher payments from [the Centers for Medicare and Medicaid Services."
The civil settlement reportedly includes the resolution of claims brought under the whistleblower provisions of the False Claims Act by Alicia Wilbur, who is a former manager in Martin's Point's Risk Adjustment Operations group, according to the release. The whistleblower will receive around $3.8 million as part of Monday's solution.
"The government expects those who participate in Medicare Advantage to provide accurate information to ensure that proper payments are made for the care received by enrolled beneficiaries," Deputy Assistant Attorney General Michael D. Granston of the Justice Department's Civil Division, Commercial Litigation Branch said in the release. "Today’s result sends a clear message to the Medicare Advantage community that the United States will take appropriate action against those who knowingly submit inflated claims for reimbursement."
A spokesperson for Martin's Point said the following in a statement Monday:
"This settlement is not an admission of liability, it instead allows us to avoid the disruption, expense, and uncertainty of litigation. It is important to note that this investigation is unrelated to member care or payment of member claims. This resolution allows us to put the past behind us, and we remain committed to our patients and members across our service regions and to the regulatory agencies that oversee our work."
This matter was handled by Trial Attorney J. Jennifer Koh of the Justice Department’s Civil Division, as well as Assistant U.S. Attorneys John Osborn and James Concannon for the District of Maine with the assistance of the U.S. Attorney’s Office’s in-house auditor, the release said.
"The claims resolved by the settlement are allegations only and there has been no determination of liability," the DOJ said Monday.
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https://www.newscentermaine.com/article/news/crime/martins-point-to-settle-allegations-it-violated-false-claims-act-with-over-22m-department-of-justice-health-care-medicare/97-f77cf06f-ea8f-4074-8923-4941f692365d
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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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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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SOURCE Yum China Holdings, Inc.
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OLD TOWN, Maine — A woman is facing multiple charges and a man is wanted by police after a standoff in Old Town on Saturday.
Old Town police said in a release Monday that they responded to a reported altercation involving threats with a firearm at 4:15 p.m. Saturday. Police then attempted to make contact with Jack Fraser, 47, and Morningstar Mason, 41, both of Old Town, at a home on Billie Jo Court in Old Town but were initially unsuccessful.
Old Town police wrote a search warrant for the residence, and the Maine State Police Tactical Team responded to assist with tactical operations on scene.
After a standoff that lasted several hours, Mason was arrested and charged with the following, according to police:
- Criminal attempt to commit a class A crime (Class B)
- Criminal threatening (Class D),
- Creating a police standoff (Class E)
- Refusing to submit to arrest (Class E)
Police have issued a temporary warrant for Fraser's arrest on the following charges:
- Criminal attempt to commit a class A crime (Class B)
- Criminal threatening with a dangerous weapon (Class C)
Old Town police ask that anyone who may have information on Fraser's whereabouts call them at 207-827-3984.
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https://www.newscentermaine.com/article/news/crime/old-town-standoff-maine-jack-fraser-morningstar-mason-billie-jo-court/97-5fb8f0cf-7edd-4e27-aa21-0d860ff6eca2
| 2023-07-31T21:20:05
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Communities come together to renovate gymnasium
HAZARD, Ky. (WYMT) - Robinson Elementary and Buckhorn School teamed up to renovate the gymnasium at A.B. Combs Elementary.
The principal of Robinson Elementary Jamie Fugate said it was a good team effort to get it ready to go for the new school year.
“Good team effort with us and Buckhorn, we’re working hand in hand with them so we have made them a family as well,” said Fugate.
Fugate said It took a couple of months of work throughout the summer to complete renovations to the gym.
“We used the gym last year, but we felt like we could give it an update and by being able to give it that update we feel like our kids and our community will be a lot more pleased with it,” said Fugate.
Fugate said that the gym is multipurpose use and is available to everyone in the community.
“This gym is available to the Robinson community, the Buckhorn community, we’re working together and using the gym together,” said Fugate.
Fugate said the community is very thankful to have the gym redone, and is looking forward to seeing it in use when the new school year begins.
“Very fortunate and very thankful, and thankful to the Perry County Board for working with us and putting our kids first,” said Fugate.
The newly renovated gym will open its doors on the first day of classes.
Copyright 2023 WYMT. All rights reserved.
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How Israel democracy battle is challenging Biden ... and US Jews
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| WASHINGTON
The turmoil in Israel, and deep political fissures laid bare by a judicial overhaul that critics say opens the door to autocratic rule, are challenging U.S.-Israeli relations to an unprecedented degree, many longtime experts in the relationship say.
Moreover, the rattling extends from the American Jewish community that has been crucial to Israel’s well-being to the U.S. government. In the weeks leading up to approval of the law, President Joe Biden became increasingly public with his warnings to Prime Minister Benjamin Netanyahu to pursue compromise on legislation that was clearly tearing Israeli society apart.
Why We Wrote This
A story focused onU.S.-Israeli relations, it has long been said, reflect shared values as well as interests. Now the deep turmoil in Israel over legislation tied to its democracy shows signs it could affect both.
For some, the current questioning of support is bound to have long-lasting impact.
“It’s going to be difficult for Americans of all stripes to absorb the news coming from Israel – the unending demonstrations in the streets, a variety of average Israelis talking about the end of democracy in Israel – without it taking a toll over time,” says Michael Koplow, chief policy officer at the Israel Policy Forum, which supports a two-state solution to the Israeli-Palestinian conflict.
“With it coming in a sustained way and from all sorts of sectors within Israeli society,” he adds, “it’s inevitably going to fundamentally change the way Americans view Israel.”
When the Durham Jewish Community Center contacted Bruce Jentleson weeks ago about speaking to the group in late July, the Duke University Middle East expert accepted – but suggested to his host that few would attend “in the hot, humid North Carolina summer.”
Instead, more than 100 people showed up. The draw, Dr. Jentleson admits, was not so much him, but the fact his talk just happened to fall last Monday, the same day Israel’s Knesset passed with the slimmest of majorities the first piece of a judicial overhaul that has drawn huge protests in Israel for over half a year.
“People are trying to sort out their support for Israel,” says Dr. Jentleson, a former State Department policy specialist on Israeli-Palestinian issues. “Now it’s not just about what the Israeli government is doing to the Palestinians, but to Israel’s society.”
Why We Wrote This
A story focused onU.S.-Israeli relations, it has long been said, reflect shared values as well as interests. Now the deep turmoil in Israel over legislation tied to its democracy shows signs it could affect both.
The turmoil in Israel and the deep political fissures laid bare by Prime Minister Benjamin Netanyahu’s judicial overhaul are challenging U.S.-Israeli relations to an unprecedented degree, many longtime experts in the relationship say.
Moreover, the rattling extends from the American Jewish community and the broader Jewish diaspora – traditionally crucial to Israel’s security and well-being – to the U.S. government. In the weeks leading up to approval of the law, President Joe Biden became increasingly public with his warnings to Mr. Netanyahu to pursue consensus and compromise on legislation that was clearly tearing Israeli society apart.
For some, the current questioning of support is bound to have long-lasting impact.
“It’s going to be difficult for Americans of all stripes to absorb the news coming from Israel – the unending demonstrations in the streets, a variety of average Israelis talking about the end of democracy in Israel – without it taking a toll over time,” says Michael Koplow, chief policy officer at the Israel Policy Forum, a pro-Israel organization that supports a two-state solution to the Israeli-Palestinian conflict.
“With it coming in a sustained way and from all sorts of sectors within Israeli society,” he adds, “it’s inevitably going to fundamentally change the way Americans view Israel.”
The measure passed July 24 was championed by Mr. Netanyahu’s far-right government as a necessary shift of power from an unelected Supreme Court to the elected legislative branch.
But for opponents from a broad spectrum of Israeli society who have protested for more than 30 weeks, the legislation dangerously weakens the check the judiciary has exercised on the legislature in what is effectively a two-branch governing system and opens the door to autocratic rule.
Allegations of interference
Once the overhaul was approved, Mr. Biden limited his response to deeming the one-sided passage “unfortunate.”
But even that measured comment added to the fire of those in the United States – mostly Republican members of Congress and conservative foreign policy analysts – who have condemned the administration’s public warnings on the reforms as interference in Israel’s internal affairs.
“The Biden administration should be very careful not to appear to be interfering in Israel’s internal politics, but it’s getting very close to going over the line, if it hasn’t already,” says James Phillips, a Middle East expert at the Heritage Foundation in Washington.
“I’m skeptical that criticizing directly the Netanyahu government and taking sides in the political controversies inside Israel can do anything other than undermine our U.S. reputation for non-intervention in others’ domestic affairs,” he adds. “You’re not going to fix what’s going on in Israel with a [6,000]-mile-long screwdriver from Washington.”
He's also dubious of what he calls “exaggerated claims” that Israel’s democracy is in peril.
“Some would argue that the majority of the voters and the Knesset should be respected, and that denying them the right to approve this judicial reform is taking away democratic rights as well,” Mr. Phillips says.
Some critics of Mr. Biden’s public pronouncements say they reflect a progressive wing in the Democratic Party that has become increasingly vocal with its criticisms of Israel. They question why the president is zeroing in on Israel, when for example he had nothing to say about French President Emmanuel Macron ramming through an increase in the retirement age despite heavy public opposition and giant protests.
Values, and interests
But other experts and Jewish-American supporters of Israel say the Israel case is different because it calls into question the “shared values” of democratic governance at the core of the bilateral relationship.
“This is not just a policy question as it was in France, this is about the fundamentals of democracy, and it’s not the U.S. saying it but a huge swath of Israeli society saying this is a danger to democratic values,” says Dr. Jentleson. Noting how Mr. Biden has made U.S. support for democracies around the world a clarion call of his presidency, he adds, “I don’t see how he could have just said, ‘This is Israel’s own business.’”
Others say that any weakening of Israel’s democratic checks and balances and an increasingly unencumbered path to unilateral Israeli government actions could eventually impinge on U.S. vital interests in the region.
One key example cited: annexation by Israel of the West Bank. The Israeli Supreme Court has stood in the way of steps that could lead to that action. But the new law could pave the way for far-right ministers in the government to move forward on what would be in blatant opposition to U.S. policy supporting a two-state solution.
As for the notion that the U.S. and Israel steer clear of intervention in the other’s political affairs, Dr. Jentleson says it’s simply false.
“The reality is that we have long been involved in each other’s politics,” he says. He cites President George H.W. Bush cutting off loan guarantees to Israel over illegal settlement construction. Or Mr. Netanyahu’s 2015 speech to Congress condemning the Obama administration’s “very bad [nuclear] deal” with Iran.
Then there was Mr. Netanyahu’s tweet in 2017 endorsing then-President Donald Trump’s border wall with Mexico.
Yet just as Israeli opposition to the judicial overhaul is broad-based, criticisms in the U.S. are not limited to the political left.
“This is not just coming from the AOCs and the Ilhan Omars of Congress,” says Dr. Jentleson, referring to Rep. Alexandria Ocasio Cortez and Representative Omar, two hard-line critics of Israel and its treatment of Palestinians in the occupied territories. “When you have rabbis from the Reform Jewish community issuing a statement saying … the most extreme members of the Israeli government do not represent Jewish values,” he adds, “that tells you this is different.”
Overcoming reluctance
Indeed, one remarkable feature of the broader U.S. response to Israel’s turmoil is how mainstream Jewish organizations long reluctant to involve themselves in Israeli politics have embraced more public profiles.
“As Jewish Americans who care deeply about the security and prosperity and social cohesion of the state of Israel, we may not have a vote but we do have a voice,” says Jason Isaacson, chief policy and political affairs officer at the American Jewish Committee (AJC) in Washington.
Shortly after the July 24 vote, the AJC issued a statement expressing its “profound disappointment” at passage of the law – and warned the judicial overhaul “could weaken Israeli democracy and harm Israel’s founding principles.”
Such a weakening would be a deep concern to Israel’s supporters around the world, Mr. Isaacson says, including President Biden.
“The fact that Joe Biden is a longtime deeply sincere friend of Israel has to be considered when you evaluate how the president and his administration have expressed themselves on this issue,” he says. “The president has been clear that this is a matter for Israelis to resolve, but at the same time all of us – friends of Israel, the Jewish-American community, the Jewish diaspora – have a stake in the preservation of Israel’s democracy and preservation of minority rights.”
Still, Mr. Isaacson says the AJC does not agree with organizations like J Street, a Washington-based pro-Israel and pro-two-state-solution organization, that is calling for action and not just words from the Biden administration in the wake of the Knesset vote.
“That’s not the way friends behave,” he says.
Duke’s Dr. Jentleson cites a range of actions the administration could take to put teeth into its disapproval. Those could include “conditioning” certain parts of the $3.8 billion in annual assistance the U.S. provides, or limiting to core Israeli security matters the use of its Security Council veto.
Others say the U.S. should delay approval of a pending visa waiver program for Israel, something Mr. Netanyahu wants dearly to be able to trumpet.
“I frankly don’t foresee the Biden administration taking any of these steps,” Dr. Jentleson says, “but to me measures like that would be pro-Israel because they might help Israel not go down this dangerous path.”
Others say that despite all the pessimism about Israel’s democracy, they see a ray of hope in the political awakening on Israel’s streets – and in how the U.S. has helped uplift that consciousness.
“Over the past eight months what we’ve witnessed is a legal and democratic consciousness in the public that is growing and growing,” says Masua Sagiv, an Israeli visiting assistant professor at the University of California, Berkeley School of Law. “I think it will take us into the future in a very different way.”
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https://www.csmonitor.com/USA/Foreign-Policy/2023/0731/How-Israel-democracy-battle-is-challenging-Biden-and-US-Jews?icid=rss
| 2023-07-31T21:20:09
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https://www.csmonitor.com/USA/Foreign-Policy/2023/0731/How-Israel-democracy-battle-is-challenging-Biden-and-US-Jews?icid=rss
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AUGUSTA, Maine — An Augusta man's death has been ruled a homicide after his body was found on the side of a road on Friday.
A driver reported the body shortly before 10:15 p.m. Friday in the area of 42 Old Belgrade Rd., according to a release from the Maine Department of Public Safety. It was later identified as 34-year-old Tyler Robinson, and efforts to revive him were unsuccessful, the release stated.
Augusta police and the Maine State Police Major Crimes Unit investigated Robinson's death throughout the weekend, and the Office of Chief Medical Examiner conducted an autopsy that ruled it a homicide, according to the release.
Officials are asking anyone who drove through the area of 42 Old Belgrade Road between 9:30 p.m. and 10 p.m. Friday to call Maine State Police at 207-624-7076.
For the latest breaking news, weather, and traffic alerts, download the NEWS CENTER Maine mobile app.
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https://www.newscentermaine.com/article/news/crime/tyler-robinson-augusta-maine-homicide-old-belgrade-road/97-27ceafe3-8def-4190-8d01-ca991726a774
| 2023-07-31T21:20:11
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https://www.newscentermaine.com/article/news/crime/tyler-robinson-augusta-maine-homicide-old-belgrade-road/97-27ceafe3-8def-4190-8d01-ca991726a774
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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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https://www.wymt.com/2023/07/31/country-singer-craig-morgan-reenlists-military-while-grand-ole-opry-stage/
| 2023-07-31T21:20:11
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https://www.wymt.com/2023/07/31/country-singer-craig-morgan-reenlists-military-while-grand-ole-opry-stage/
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PORTLAND, Maine — After running into Richard Russo on the streets of Portland a year or two ago, I asked him what he’d been up to lately. “Still scribbling,” he said with a laugh.
The effort paid off, and Russo is now out with his latest novel, “Somebody’s Fool,” the third volume in a trilogy that began three decades ago with the acclaimed “Nobody’s Fool.” And, yes, the final product was actually created by scribbling.
“I love to write in longhand,” he said. “I love the feel of a pen.”
“Somebody’s Fool” is Russo’s tenth novel, and when you add in his memoirs, essays, and screenplays for television and movies, it adds up to an impressive body of work. And yet, he doesn’t spend all that much time writing.
On a workday morning, he typically writes for a couple of hours with pen and paper. In the afternoon, he switches to modern technology and editing and rewriting as he goes, spends two more hours putting what he wrote in the morning into a computer.
“Then I read,” he said. “But that’s a full day for me. I’m always embarrassed to answer that question [of how much time is spent writing each day] because it makes me look so lazy. But a lot of my writing life takes place when I’m walking, when I’m reading.”
The routine clearly works, in part because Russo loves spending time with his fictional characters, especially Sully Sullivan, who is based on his father and appears in all three novels in the trilogy.
“When you’re surrounded by [characters] who are just so much fun and so entertaining,” Russo said, “it just makes the journey so much more pleasant.”
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https://www.newscentermaine.com/article/news/local/207/for-maine-novelist-richard-russo-its-a-pleasure-to-reunite-with-some-old-fictional-friends-207-interview-maine-somebodys-fool-nobodys-fool/97-e858e666-63d3-44f6-bfc3-4ff4499f35e8
| 2023-07-31T21:20:17
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https://www.newscentermaine.com/article/news/local/207/for-maine-novelist-richard-russo-its-a-pleasure-to-reunite-with-some-old-fictional-friends-207-interview-maine-somebodys-fool-nobodys-fool/97-e858e666-63d3-44f6-bfc3-4ff4499f35e8
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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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https://www.wymt.com/2023/07/31/doctors-concerned-brain-eating-amoeba-infection-could-increase-due-warmer-water-temperatures/
| 2023-07-31T21:20:18
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https://www.wymt.com/2023/07/31/doctors-concerned-brain-eating-amoeba-infection-could-increase-due-warmer-water-temperatures/
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PORTLAND, Maine — For a mollusk with no apparent means of propulsion, oysters in Maine are certainly on the move.
The number of oyster farms in the state has grown dramatically in the last decade. Ditto for the number of raw bars. It all adds up to something of a golden age for anyone who savors this seafood’s distinctive texture and briny taste.
So, where in Maine are some of these rewarding places to slurp oysters?
Joe Ricchio — food writer, private chef, and “Food Coma” host — joined us on 207 to tell us about some of his favorites. Here’s the list he provided, but be sure to watch our interview to learn more about what these places offer that Joe especially likes.
*****
--Jolie Rogers Raw Bar, Wiscasset
--Freeport Oyster Bar, Freeport
--18 Central Raw Bar, Rockport
--SoPo Seafood, South Portland
--Lady Shuckers (food truck), Portland
--Shuck Station, Newcastle
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https://www.newscentermaine.com/article/news/local/207/where-should-you-go-in-maine-for-delicious-oysters-here-are-six-recommendations-food/97-26dfed3f-43dd-4d7b-adb6-ee1b0fb8333d
| 2023-07-31T21:20:27
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https://www.newscentermaine.com/article/news/local/207/where-should-you-go-in-maine-for-delicious-oysters-here-are-six-recommendations-food/97-26dfed3f-43dd-4d7b-adb6-ee1b0fb8333d
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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.wymt.com/2023/07/31/high-prices-disproportionately-pinching-younger-americans-data-shows/
| 2023-07-31T21:20:27
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https://www.wymt.com/2023/07/31/high-prices-disproportionately-pinching-younger-americans-data-shows/
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WASHINGTON — Paul Reubens, the actor and comedian best known for his character Pee-wee Herman, has died at 70 years old after a years-long battle with cancer that he did not make public. The Monday announcement of his death was met with an immediate outpouring of grief from his friends and colleagues in the entertainment industry.
"Russian Doll" star Natasha Lyonne, who made her acting debut at 6 years old on the first season of "Pee-wee's Playhouse," shared images from the hit television series on social media.
"Love you so much, Paul. One in all time. Thank you for my career & your forever friendship all these years & for teaching us what a true original is," she wrote, adding several heart emojis and one emoji of a broken heart.
Lyonne was one of many actors and comedians who described Reubens as a friend or mentor, sharing photos or personal stories.
"No tweet can capture the magic, generosity, artistry, and devout silliness of Paul Reubens. Everyone I know received countless nonsensical memes from Paul on their birthday, and I mean EVERYONE. His surreal comedy and unrelenting kindness were a gift to us all. Damn, this hurts.
"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. My family and I will miss him."
"Paul Reubens was a great, great friend. He gave me the muppets for my birthday and never forgot anyone’s birthday from our class. He was in my class at CalArts and we had the same business manager. He was always kind to me and to everyone. He will be missed."
"Paul Reubens was a gifted performer and a nice person. He brought so much joy to people over the years as Pee Wee, my sister and I loved that character. I was privileged to work with him in a film and he was as great in real life as he was on screen. Tough news here."
"This is devastating. Truly heartbreaking. Paul was such a comedy genius. From his Letterman appearances to his TV shows and movies, he was so original and hilarious. And such a sweet man too. This is a huge loss for comedy. Thanks for all the laughs, Paul."
"One of the patron saints of all misfitted, weird, maladjusted, wonderful, miraculous oddities."
"One of the greats is gone. It is a very sad day. Thank you for the joy, @peeweeherman. Chris and I were so proud to call you friend. You will live in our hearts forever, Paul.
"The greatest. No one ever like him ever."
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https://www.newscentermaine.com/article/news/nation-world/paul-reubens-death-fellow-comedians-actors-react/507-a2fda3a4-b718-4ac5-b043-7e28c12e4296
| 2023-07-31T21:20:33
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https://www.newscentermaine.com/article/news/nation-world/paul-reubens-death-fellow-comedians-actors-react/507-a2fda3a4-b718-4ac5-b043-7e28c12e4296
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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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https://www.wymt.com/2023/07/31/ill-be-able-walk-again-6-year-old-shot-road-rage-incident-confident-about-her-future/
| 2023-07-31T21:20:33
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https://www.wymt.com/2023/07/31/ill-be-able-walk-again-6-year-old-shot-road-rage-incident-confident-about-her-future/
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SAN FRANCISCO — A brightly flashing “X” sign has been removed from the San Francisco headquarters of the company formerly known as Twitter just days after it was installed.
The San Francisco Department of Building Inspection said Monday it received 24 complaints about the unpermitted structure over the weekend, including concerns about its structural safety and illumination.
The Elon Musk-owned company, which has been rebranded as X, had removed the Twitter sign and iconic blue bird logo from the building last week. That work was temporarily paused because the company did not have the necessary permits.
The city of San Francisco had opened a complaint and launched an investigation into the giant “X” sign that was installed Friday on top of the downtown building as Musk continues his rebrand of the social media platform.
Representatives for X did not immediately respond to a message for comment Monday.
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https://www.newscentermaine.com/article/news/nation-world/x-sign-removed-from-former-twitter-san-francisco-headquarters/507-9b01a40a-df5d-4c2c-8867-b9b02ab08a43
| 2023-07-31T21:20:39
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https://www.newscentermaine.com/article/news/nation-world/x-sign-removed-from-former-twitter-san-francisco-headquarters/507-9b01a40a-df5d-4c2c-8867-b9b02ab08a43
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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.
The extent to which mental illness and Bowers’ difficult childhood played a role in the massacre dominated the lawyers’ arguments for and against capital punishment.
Speaking for the government, U.S. Attorney Eric Olshan said Bowers was clearly motivated by religious hatred 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.
The gunman raved incessantly on social media about his hatred of Jewish people — using a slur for Jewish people some 400 times on a 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 mercy and a life sentence.
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. On Monday, 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.
“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.
Olshan, the prosecutor, 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.
Clarke retorted that “childhood matters.”
“It defies reality to say he got better, he’s fine, he’s just an evil guy. What it does is reflects a complete misunderstanding of serious mental illness,” she 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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https://www.wymt.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
| 2023-07-31T21:20:40
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https://www.wymt.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
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SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU) — Officials announced two men have been charged in separate cases for allegedly committing a total cost of $2.5 million in COVID-19 pandemic fraud.
According to U.S. Attorney Gerard M. Karam, Brian J. Albelli, 45, of Stroudsburg, and Daniel Wasielewski, 58, of Wilkes-Barre, are both being charged with criminal information with wire fraud and money laundering.
Investigators say Albelli owned and operated multiple corporate entities in Pennsylvania and Florida and filed for approximately 20 fraudulent applications for pandemic stimulus funds, including under the Payment Protection Program and for Economic Injury and Disaster Loans.
Albelli filed on behalf of corporate entities that did not, in fact, have actual business operations, and that bore inflated revenues and employee headcount, and nonexistent gross receipts and costs of goods sold, as stated in the release.
Albelli allegedly obtained in excess of approximately $2,200,000 from pandemic assistance funds, for himself and his family members, through filing fraudulent applications.
Officials report Wasielewski filed and assisted others in filing fraudulent applications for pandemic stimulus funds, including under the Payment Protection Program, for Economic Injury and Disaster Loans, and Pandemic Unemployment Assistance benefits.
The applications submitted by Wasielewski and his confederates were filed on behalf of corporate entities that did not, in fact, have actual business operations, and that had false revenues and other business information, as stated by investigators.
Wasielewski allegedly received approximately $350,000 in pandemic assistance and other fraudulently-obtained funds, for himself and others. Instead of using the funds on business expenses, police said that Wasielewski and others used them to purchase cryptocurrency and other personal expenses.
The maximum penalties under federal law for the charge of wire fraud is 20 years of imprisonment, a term of supervised release following imprisonment, and a fine.
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https://www.pahomepage.com/news/crime-courts/two-charged-in-pa-for-2-5m-pandemic-assistance-fraud/
| 2023-07-31T21:20:40
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https://www.pahomepage.com/news/crime-courts/two-charged-in-pa-for-2-5m-pandemic-assistance-fraud/
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The U.S. Department of Energy is banning the sale of energy inefficient light bulbs beginning Aug. 1, 2023. Given that incandescent and halogen light bulbs are far less energy efficient than LED light bulbs, many people are treating this as a ban on incandescent and halogen bulbs.
Incandescent and halogen lights have a wire within the bulb that heats up and produces light, while LED bulbs do not.
But light bulbs aren’t just used in floor lamps and ceiling fans. People in various online communities have asked how the light bulb ban affects them — including a question about halogen headlights in a Ram trucks subreddit, multiple questions about heat lamps in communities for reptile pet owners and a question about how the law affects lava lamps.
THE QUESTION
Is the U.S. government banning all incandescent and halogen light bulbs?
THE SOURCES
THE ANSWER
No, the U.S. government is not banning all incandescent and halogen light bulbs.
WHAT WE FOUND
The new rule bans the manufacture and sale of inefficient “general service lamps,” which largely refers to the standard kinds of light bulbs you’d use to illuminate your home. Most incandescent and halogen light bulbs fail to meet these new energy efficiency standards, and are therefore banned by the rule.
The U.S. Department of Energy (DOE) has carved out exceptions for many different kinds of light bulbs in its ban on the manufacturing and sale of energy inefficient light bulbs.
“It does not ban the sale or manufacture of ALL incandescent bulbs, just those common household incandescent (and other) bulbs that are not energy-efficient,” the Environmental Protection Agency (EPA) says of the new ban. “Many bulbs, including specialty bulbs, three-way bulbs, chandelier bulbs, refrigerator bulbs, plant grow lights and others, are exempt from the law's requirements.”
The reason incandescent and halogen bulbs are less energy efficient than LED bulbs is because the incandescent and halogen bulbs create light by passing an electrical current through a tungsten filament, which also creates heat, General Electric says. The heat that’s released is usually wasted energy, although it can sometimes be useful for things like heat lamps.
The ban is a rule that has been in the making since 2007, when Congress passed and former President George W. Bush signed the Energy Independence and Security Act of 2007. The law required the Secretary of Energy to determine if there should be a rule with a “minimum standard of 45 lumens per watt for general service lamps.”
In Jan. 2017, the DOE adopted this rule, and planned to begin enforcing it in 2020. DOE withdrew this rule in Sept. 2019 and didn’t adopt it again until May 2022, regulations.gov says. Therefore, the enforcement date was moved to Aug. 1, 2023, a DOE document says.
According to the 2007 law, the rule only makes changes to the “Energy Conservation Program for Consumer Products Other Than Automobiles” within the U.S. code, meaning the ban does not apply to car lights, including headlights.
Additionally, the 2007 law required the rule to exempt a number of various bulbs from the ban. These include:
Appliance lamps (such as refrigerator lights)
Heat lamps, plant lights and bug lamps
Colored lights and black lights
Reflector lamps
Chandelier bulbs, Christmas lights and decorative bulbs of 40 watts or less
The EPA notes that the rule does not ban the use or purchase of incandescent or halogen lightbulbs, just the manufacture and sale of the bulbs. Therefore, individuals will not be penalized for continuing to use incandescent bulbs in their homes.
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https://www.newscentermaine.com/article/news/verify/government-verify/incandescent-halogen-light-bulb-lamp-ban-phase-out/536-4cc9c8bb-bd10-4ca1-900e-e74df93f0ed8
| 2023-07-31T21:20:45
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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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https://www.wymt.com/2023/07/31/san-francisco-prosecutors-lay-out-murder-case-against-consultant-death-cash-apps-bob-lee/
| 2023-07-31T21:20:46
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As work begins on the largest US dam removal project, tribes look to a future of growth
SACRAMENTO, Calif. (AP) — The largest dam removal project in United States history is underway along the California-Oregon border — a process that won’t conclude until the end of next year with the help of heavy machinery and explosives.
But in some ways, removing the dams is the easy part. The hard part will come over the next decade as workers, partnering with Native American tribes, plant and monitor nearly 17 billion seeds as they try to restore the Klamath River and the surrounding land to what it looked like before the dams started to go up more than a century ago.
The demolition is part of a national movement to return the natural flow of the nation’s rivers and restore habitat for fish and the ecosystems that sustain other wildlife. More than 2,000 dams have been removed in the U.S. as of February, with the bulk of those having come down within the last 25 years, according to the advocacy group American Rivers.
When demolition is completed by the end of next year, more than 400 miles (644 kilometers) of river will have opened for threatened species of fish and other wildlife. By comparison, the 65 dams removed in the U.S. last year combined to reconnect 430 miles (692 kilometers) of river.
Along the Klamath, the dam removals won’t be a major hit to the power supply; they produced less than 2% of power company PacifiCorp’s energy generation when they were running at full capacity -- enough to power about 70,000 homes. Though the hydroelectric power produced by dams is considered a clean, renewable source of energy, many larger dams in the U.S. West have become a target for environmental groups and tribes because of the harm they cause to fish and river ecosystems.
The project will empty three reservoirs over about 3.5 square miles (9 square kilometers) near the California-Oregon border, exposing soil to sunlight in some places for the first time in more than a century.
For the past five years, Native American tribes have gathered seeds by hand and sent them to nurseries with plans to sow the seeds along the banks of the newly wild river. Helicopters will bring in hundreds of thousands of trees and shrubs to plant along the banks, including wads of tree roots to create habitat for fish.
This growth usually takes decades to happen naturally. But officials are pressing nature’s fast-forward button because they hope to repel an invasion of foreign plants, such as starthistle, which dominate the landscape at the expense of native plants.
“Why not just let nature take its course? Well, nature didn’t take its course when dams got put in. We can’t pretend this gigantic change in the landscape has not happened and we can’t just ignore the fact that invasive species are a big problem in the west and in California,” said Dave Meurer, director of community affairs for Resource Environmental Solutions, the company leading the restoration project.
PacifiCorp built the dams starting in 1918 to generate electricity. The dams halted the natural flow of the river and disrupted the lifecycle of salmon, a fish that spends most of its life in the Pacific Ocean but returns to the chilly mountain streams to lay eggs. The fish are culturally and spiritually significant to a number of Native American tribes, who historically survived by fishing the massive runs of salmon that would come back to the rivers each year.
A combination of low water levels and warm temperatures in 2002 led to a bacterial outbreak that killed more than 34,000 fish, mostly Chinook salmon. The loss jumpstarted decades of advocacy from Native American tribes and environmental groups, culminating last year when federal regulators approved a plan to remove the dams.
“The river is our church, the salmon is our cross. That’s how it relates to the people. So it’s very sacred to us,” said Kenneth Brink, vice chairman of the Karuk Tribe. “The river is not just a place we go to swim. It’s life. It creates everything for our people.”
The project will cost $500 million, paid for by taxpayers and PacifiCorps ratepayers. Crews have mostly removed the smallest of the four dams, known as Copco No. 2. The other three dams are expected to come down next year. That will leave some homeowners in the area without the picturesque lake they have lived on for years.
The Siskiyou County Water Users Association, which formed about a decade ago to stop the dam removal project, filed a federal lawsuit. But so far they have been unable to stop the demolition.
“Unfortunately it’s a mistake you can’t turn back from,” association President Richard Marshall said.
The water level in the lakes will drop between 3 feet and 5 feet (1 meter to 1.5 meters) per day over the first few months of next year. Crews will follow that water line, taking advantage of the moisture in the soil to plant seeds from more than 98 native plant species including wooly sunflower, Idaho fescue and Blue bunch wheat grass.
Tribes have been invested in the process from the start. Resource Environmental Solutions hired tribal members to gather seeds from native plants by hand. The Yurok Tribe even hired a restoration botanist.
Each species has a role to play. Some, like lupine, grow quickly and prepare the soil for other plants. Others, like oak trees, take years to fully mature and provide shade for other plants.
“It’s a wonderful marriage of tribal traditional ecological knowledge and western science,” said Mark Bransom, CEO of the Klamath River Renewal Corporation, the nonprofit entity created to oversee the project.
The previous largest dam removal project was on Washington state’s Elwha River, which flows out of Olympic National Park into the Strait of Juan de Fuca. Congress in 1992 approved the demolition of the two dams on the river constructed in the early 1900s. After two decades of planning, workers finished removing them in 2014, opening about 70 miles (113 kilometers) of habitat for salmon and steelhead.
Biologists say it will take at least a generation for the river to recover, but within months of the dams being removed, salmon were already recolonizing sections of the river they had not accessed in more than a century. The Lower Elwha Klallam Tribe, which has been closely involved in restoration work, is opening a limited subsistence fishery this fall for coho salmon, its first since the dams came down.
Brink, the Karuk Tribe vice chair, hopes similar success will happen on the Klamath River. Multiple times per year, Brink and other tribal members participate in ceremonial salmon fishing using handheld nets. In many years, there have been no fish to catch, he said.
“When the river gets to flow freely again, the people can also begin to worship freely again,” he said.
___
Associated Press writer Eugene Johnson in Seattle contributed.
Copyright 2023 The Associated Press. All rights reserved.
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| 2023-07-31T21:20:53
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Luke Maile Player Prop Bets: Reds vs. Cubs - July 31
Published: Jul. 31, 2023 at 4:29 PM EDT|Updated: 51 minutes ago
The Cincinnati Reds, including Luke Maile (batting .240 in his past 10 games, with a double, a home run, a walk and two RBI), battle starter Marcus Stroman and the Chicago Cubs at Wrigley Field, Monday at 8:05 PM ET.
He had a one-hit showing in his most recent game (1-for-3) against the Dodgers.
Luke Maile Game Info & Props vs. the Cubs
- Game Day: Monday, July 31, 2023
- Game Time: 8:05 PM ET
- Stadium: Wrigley Field
- Live Stream: Watch this game on Fubo!
- Cubs Starter: Marcus Stroman
- TV Channel: MARQ
- Hits Prop: Over/under 0.5 hits (Over odds: -133)
- Home Runs Prop: Over/under 0.5 home runs (Over odds: +900)
- RBI Prop: Over/under 0.5 RBI (Over odds: +250)
- Runs Prop: Over/under 0.5 runs (Over odds: +180)
Looking to place a prop bet on Luke Maile? Check out what's available at BetMGM and use bonus code "GNPLAY" when you sign up with this link!
Explore More About This Game
Luke Maile At The Plate
- Maile is hitting .241 with eight doubles, four home runs and seven walks.
- In 45.2% of his games this season (19 of 42), Maile has picked up at least one hit, and in six of those games (14.3%) he recorded at least two.
- In four games this year, he has gone deep (9.5%, and 3.4% of his trips to the dish).
- Maile has an RBI in seven of 42 games this season, with multiple RBI in five of them. He has also driven home three or more of his team's runs in one contest.
- He has scored in 10 games this year (23.8%), but has had no multi-run games.
Ready to play FanDuel Daily Fantasy? Get in the game using our link.
Luke Maile Home/Away Batting Splits
Cubs Pitching Rankings
- The pitching staff for the Cubs has a collective 8.3 K/9, which ranks 22nd in MLB.
- The Cubs have the 12th-ranked team ERA across all MLB pitching staffs (4.07).
- The Cubs surrender the third-fewest home runs in baseball (111 total, 1.1 per game).
- The Cubs are sending Stroman (10-7) to the mound for his 23rd start of the season. He is 10-7 with a 3.51 ERA and 109 strikeouts through 125 2/3 innings pitched.
- The right-hander last appeared on Thursday against the Chicago White Sox, when he threw 3 1/3 innings, allowing seven earned runs while giving up nine hits.
- This season, the 32-year-old ranks 21st in ERA (3.51), 28th in WHIP (1.202), and 47th in K/9 (7.8) among qualifying pitchers.
© 2023 Data Skrive. All rights reserved.
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| 2023-07-31T21:20:59
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FRESNO, Calif. (KSEE/KGPE) — This time of year, more than 350 crops are harvested throughout the Central Valley.
Late summer and early fall are typically considered peak seasons. The harvest brings increased traffic from ag vehicles on rural roads.
That means drivers will be sharing the road with harvesters, tractors, trucks, and other ag vehicles. Many times, these vehicles are slower than the maximum posted speed.
Fresno County Farm Bureau CEO says it’s especially important to be vigilant on rural roads. The public is urged to slow down, plan for rural routes to take longer than usual, pass only when it’s lawful and safe, and recognize that visibility can be difficult during certain periods of the day and night.
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https://www.yourcentralvalley.com/eye-on-ag/summer-harvest-sharing-the-road-with-ag-vehicles/
| 2023-07-31T21:21:05
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https://www.yourcentralvalley.com/eye-on-ag/summer-harvest-sharing-the-road-with-ag-vehicles/
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HAPEVILLE, GA. -- Police responded to an Atlanta-area neighborhood about a suspected trespasser, but what the officer found would touch his heart and result in a moving act of kindness.
"You might be told one thing over the radio, and when you show up on scene it's something completely different," Officer Eric Colleran said in an interview with local ABC affiliate WSB.
Colleran took the call about a suspected trespasser. He responded to the neighborhood and found 16-year-old Keonte Evans.
Evans was not trespassing. Instead, he was doing some yard work in order to earn money to buy his five younger brothers and sisters clothes before the start of a new school year.
Colleran quickly sorted out the misunderstanding and felt moved by Evans' respectful, soft-spoken demeanor as well as his drive to help his family.
A couple days later, Colleran returned to Evans' house with a surprise for him in the trunk of his patrol car: a brand new PlayStation 5.
Emotion overtook Evans. He immediately hugged Colleran and thanked him for his kindness. He took the gaming console inside but immediately ran back outside to hug Colleran again.
"Somebody did this for you. The game is so expensive. You can't do anything but be so excited. So, I gave him a hug. A big hug at that. A very big hug. It's so sweet. Many people don't do these things for kids," Evans said.
"I didn't do any of this to end up on the news. I was just trying to help him out and let him understand that if you work hard and are honest, good things will come to you," Colleran said.
Evans told WSB he was still looking to pick up a part-time job to help his mom provide for their family. In the meantime, he hasn't let a single day slip by without playing his new PS5.
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https://abc30.com/eric-colleran-keonte-evans-georgia-trespasser-playstation-5/13577595/
| 2023-07-31T21:21:05
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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.
View original content to download multimedia:
SOURCE The Aaron’s Company, Inc.
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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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https://www.yourcentralvalley.com/hill-politics/biden-overturns-trump-decision-to-move-space-command-hq-from-colorado-to-alabama/
| 2023-07-31T21:21:11
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https://www.yourcentralvalley.com/hill-politics/biden-overturns-trump-decision-to-move-space-command-hq-from-colorado-to-alabama/
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Five people were hurt after a runaway bull wreaked havoc in the streets of one city in Peru.
Dramatic video showed the bull chasing people through the streets of Ayacucho like it was Pamplona, Spain. The bull was even seen ramming into a woman.
The animal escaped from an arena during an event on Wednesday.
It took about 30 minutes for authorities to capture the bull.
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https://abc30.com/runaway-bull-peru-escapes-in-ayacucho-rams-woman/13570865/
| 2023-07-31T21:21:12
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https://abc30.com/runaway-bull-peru-escapes-in-ayacucho-rams-woman/13570865/
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CHICAGO, July 31, 2023 /PRNewswire/ -- The Board of Directors of ACG – the premier midmarket mergers and acquisitions association – announces the appointment of its new Chief Executive Officer, Brent Baxter, effective July 31, 2023.
An executive search committee, led by ACG Chairman Christine Nowaczyk, launched a national search through Korn Ferry to find an innovative leader who can keep up with the growth of the industry while listening and truly understanding the needs of ACG's chapters and members. "We found that person in Brent," said Nowaczyk, "and we are excited for the organization's next chapter. I want to thank my board colleagues and our committee for their contributions toward the extensive search."
Baxter has a long career in middle market M&A, ACG's core focus, with more than 25 years of sell-side and buy-side advisory experience, closing more than 200 transactions with a combined value of more than $1 billion. He also has a long and dedicated history supporting ACG in a volunteer capacity, serving in multiple positions on the ACG Board of Directors, and was recently honored with a Lifetime Achievement Award at the 2023 DealMAX event.
Brent served as ACG Chairman in 2021 and has been a member of the Executive Committee for the past six years – four years with the Office of the Chair, and two years as Finance Chair.
Beginning in 2015, Brent spearheaded many key membership strategies, including a growth initiative targeting corporate/strategic acquirer members, which flourished in 38 of ACG's local chapters. He also co-chaired the first national Strategic Acquirer Summit, which drew 120 high-value corporate attendees in Dallas in 2019. The program was suspended during COVID but successfully returned in 2023 in an invigorated form during ACG's largest event, DealMAX.
Brent has been an active participant in numerous chapter leadership events for 20+ years, forming deep connections with ACG's chapter network. He has attended more than 250 ACG events throughout the U.S. and has been a key member of his local ACG St. Louis chapter, serving in multiple positions, including Board President, Membership Chair, Chair of the Corporate Peer Group, as well as Chair of a key multi-chapter Midwest event, the Growth Conference.
"Brent has played a vital role in the success of ACG for many years, and has a deep familiarity with ACG's strategic plan, leadership and staff, member segments and, most importantly, actionable areas for growth," said Nowaczyk. "He not only embodies the values of ACG but also brings a fresh perspective and innovative ideas. With his experience and passion, we have full confidence that Brent will further enhance ACG's global reputation as a hub for middle-market growth, dealmaking, and thought leadership."
Baxter comes to ACG most recently from Nolan & Associates, a leading boutique investment banking firm with a focus on the middle market, where he has been Managing Director since 2019.
Prior to joining Nolan, Brent spent 18 years as Managing Director of a St. Louis independent investment bank. He also has extensive experience growing private companies through acquisitions, serving as CEO of a food manufacturing company that more than quadrupled its sales in eight years, and is currently on the boards of several privately held companies.
"I am eager to work even more extensively with our board of directors, our dedicated chapter boards and volunteers and our amazingly talented team of ACG professionals as we continue to provide our middle-market M&A community with best-in-class member benefits, innovative resources and expanded, relevant networking opportunities," said Brent Baxter. "ACG's mission is more relevant today than ever. In this dynamic economic landscape, supporting and amplifying middle-market growth is not just a responsibility—it is an opportunity to shape the future of business. I am ready and committed to lead ACG on this exciting journey."
The new CEO will direct all areas of ACG's operations, including several initiatives that are at the core of ACG's mission.
This includes overseeing ACG's expansive chapter network, which offers members a wealth of networking opportunities through more than 2,000 annual meetings and events as well as DealMAX, ACG's annual conference and premier networking opportunity for middle market professionals.
Moreover, Baxter will oversee ACG's media division, which includes the Middle Market Growth suite of publications and digital products (Middle Market Executive, Middle Market DealMaker, and several special reports), GrowthTV, an online media channel providing engaging and insightful content for the middle-market community, and the Middle Market Growth Conversations podcast.
Mid-market private equity valuation and deal terms database GF Data, ACG's first acquisition, is also a key part of the future plans for a revitalized and more robust ACG under Baxter's leadership.
The ACG Board expresses its sincere gratitude to Lisa Harris, the organization's CFO and Interim CEO, for her exceptional leadership and dedication during this transitional period.
We also extend our appreciation to the search firm Korn Ferry for their professional assistance in this pivotal CEO search, and to the entire ACG staff for their unwavering dedication to our organization and its mission.
Please watch a GrowthTV video where Brent Baxter discusses what's next for ACG.
About ACG (Association for Corporate Growth)
Founded in 1954, ACG is the premier M&A dealmaking community with a mission of driving middle-market growth. ACG's global network operates within 61 local markets worldwide and comprises more than 100,000 middle-market professionals who invest in, own and advise growing companies. Learn more about ACG and become a member at www.acg.org.
Media Contact: Sue Ter Maat, ACG, 847-772-4354 or stermaat@acg.org
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SOURCE Association for Corporate Growth
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:28 PM PDT Updated: Jul 31, 2023 / 12:28 PM PDT
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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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)
View original content to download multimedia:
SOURCE Amgen
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:21 PM PDT Updated: Jul 31, 2023 / 12:21 PM PDT
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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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-healthcare-hero-highlight/
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- VOXZOGO® Growth Continued in the Second Quarter Driven by Global Demand Resulting in Increased Full Year 2023 Guidance
- Pivotal Program with VOXZOGO in New, Potential Second Indication, Hypochondroplasia, to Begin in the Fourth Quarter of 2023
- U.S. Approval of ROCTAVIAN™ Received in the Second Quarter and Commercial Launch Underway; Commercial Launch in Europe Making Progress
SAN RAFAEL, Calif., July 31, 2023 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced financial results for the six months and second quarter ended June 30, 2023.
"Outstanding execution across our business led to record revenues in the first half of 2023. We reached more children with VOXZOGO around the world, as physicians and families sought treatment with the only approved medicine targeting the genetic cause of achondroplasia," said Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin. "We were also very pleased to have received the highly anticipated U.S. approval of ROCTAVIAN, the only gene therapy treatment for severe hemophilia A. U.S. commercial launch activities are well underway following the June 29 approval, in parallel with launch progress across a number of European countries."
Mr. Bienaimé added, "for the remainder of 2023, we plan to build on the foundation of growth and profitability achieved in the first half of the year, expand VOXZOGO globally and treat the first ROCTAVIAN patients in the U.S. and Europe."
Financial Highlights:
- Total Revenues for the second quarter of 2023 were $595.3 million, an increase of 12% compared to the same period in 2022. The increase in Total Revenues was primarily attributed to the following:
- GAAP and Non-GAAP Net Income increased by $28.3 million and $28.4 million, respectively, for the second quarter of 2023 compared to the same period in 2022. The increased net income was primarily due to higher gross profit and interest income, partially offset by higher spend in research and development programs to support both early-stage research and clinical activities, as well as higher selling, general and administrative expenses due to higher foreign currency losses and to support the commercial launches of VOXZOGO and ROCTAVIAN.
Recent Product Approvals and Launches (ROCTAVIAN and VOXZOGO)
- On June 29, 2023 the FDA approved ROCTAVIAN gene therapy for the treatment of adults with severe hemophilia A (congenital factor VIII (FVIII) deficiency with FVIII activity < 1 IU/dL) without antibodies to adeno-associated virus serotype 5 (AAV5) detected by an FDA-approved test. The FDA approval is based on data from the global Phase 3 GENEr8-1 study, the largest Phase 3 trial of any gene therapy in hemophilia. The one-time, single-dose infusion is the first approved gene therapy for severe hemophilia A in the U.S. ROCTAVIAN was first conditionally approved by the European Commission in August 2022.
Following FDA approval, the Company activated its U.S.-based salesforce and communicated that ROCTAVIAN is expected to be available for commercial use in August. BioMarin estimates that there are approximately 2,500 people living with severe hemophilia A in the United States who are eligible for treatment and receiving care at approximately 140 hemophilia treatment centers. - In Europe, BioMarin continues to make progress on the pricing and reimbursement process for ROCTAVIAN in Germany, France and Italy to facilitate access. BioMarin is working directly with the German National Association of Statuary Health Insurance Funds (GKV) to finalize access to ROCTAVIAN. At present, people in Germany with severe hemophilia A, who are eligible for treatment with ROCTAVIAN, can access treatment through either Named Patient authorizations or previously secured Outcomes Based Agreements. In France and Italy, BioMarin is working directly with the single public insurance funds in each country to secure reimbursement and access to ROCTAVIAN, expected later in 2023.
- As of the end of June 2023, more than 2,000 children with achondroplasia were being treated with VOXZOGO across 36 active markets. In the second quarter, patient growth remained strong worldwide. Based on these trends, today BioMarin updated full-year 2023 VOXZOGO guidance to between $400 million and $440 million. VOXZOGO is currently approved for the treatment of children 2 years old and older in Europe, for children 5 years old and older in the U.S., and approved for all ages from birth in Japan.
VOXZOGO and ROCTAVIAN Market Expansion Opportunities
- Today, BioMarin announced its plan to begin enrollment in the pivotal program with VOXZOGO for the treatment of children with hypochondroplasia, a condition characterized by impaired bone growth. Hypochondroplasia is a genetic statural condition caused by a mutation (gene change) in the fibroblast growth factor receptor-3 (FGFR3) gene.
Leveraging years of safety data from the VOXZOGO development program in achondroplasia, emerging data from an investigator-led Phase 2 study and following receipt of feedback from FDA, BioMarin plans to begin the 6-month observation arm of the study later this year, followed by the 52-week randomized, double-blind, placebo-controlled phase of the 80-participant clinical trial. If successful, BioMarin believes this study will be able to support regulatory approval in this large indication. - In the coming months in the U.S. and Europe, the Company expects to learn the outcome of its request to expand VOXZOGO access to younger age groups, based on favorable results from a Phase 2 study in infants and young children and the importance of starting treatment as early as feasible. Age expansions would provide access to treatment with VOXZOGO to more than 1,000 additional children in the U.S. and Europe.
- Additional product expansion opportunities with ROCTAVIAN continue, including a clinical study investigating ROCTAVIAN treatment in those with active or prior inhibitors and continued exploration of methods of administering ROCTAVIAN in people with pre-existing antibodies against AAV5.
Earlier-stage Development Portfolio (BMN 255, BMN 331, BMN 351, BMN 349, BMN 293)
- BioMarin plans to showcase its Research and Development capabilities and earlier-stage product candidate updates at its R&D Day on September 12, 2023. Details on accessing the live event will be available on BioMarin's website in early September.
- BMN 255 for hyperoxaluria in chronic liver disease: The Company has concluded the multi-ascending dose study with BMN 255 in healthy human volunteers. Based on early data demonstrating a rapid and potent increase in plasma glycolate following treatment with BMN 255, BioMarin plans to open enrollment in an expanded study in patients with chronic liver disease and hyperoxaluria in the second half of 2023. The Company believes the availability of a potent, orally bioavailable, small molecule like BMN 255 may be able to significantly reduce disease and treatment burden in a patient population with significant unmet need.
- BMN 331 gene therapy product candidate for Hereditary Angioedema (HAE): Dosing continues in the Phase 1/2 HAERMONY study to evaluate BMN 331, an investigational AAV5-mediated gene therapy for people living with HAE. In January 2023, BioMarin shared that the first participant treated with the 6e13vg/kg dose demonstrated C1-Inhibitor levels that were approaching the therapeutically relevant range. In March 2023, the second sentinel participant was safely dosed at 6e13vg/kg and this individual has had a similar initial response. BioMarin will continue to monitor the trajectory of expression in these two individuals before deciding on next steps in this program.
- BMN 351 for Duchenne Muscular Dystrophy (DMD): Investigational New Drug application (IND)-enabling activities continue with BMN 351, an antisense oligonucleotide therapy for individuals with exon 51-skip-amenable DMD. BMN 351 was developed using familiar chemistry and superior biology, by targeting a novel, splice enhancer site demonstrating improved binding affinity and tolerability in preclinical models. Preclinical data suggest that restored expression of near-full-length dystrophin protein at levels of up to 40% will convert phenotypes from rapid loss to durable preservation of strength and ambulation.
- BMN 349 for alpha-1 antitrypsin deficiency: Preclinical studies have demonstrated that BMN 349 is an orally bioavailable, small molecule that preferentially sequesters mutant protein, preventing polymerization in liver cells that drive the progressive liver disease form of the illness. In preclinical studies BMN 349 is titratable to effect, with rapid onset and high potency. Preclinical results have strong implications for potential improvement of current management, particularly for severe liver disease requiring rapid action. IND enabling studies are concluding and BioMarin plans to submit the IND in the second half of 2023.
- BMN 293 for MYBPC3 hypertrophic cardiomyopathy (HCM): Mutations in the MYBPC3 gene are the most common cause of inherited HCM. Early investigations suggest that gene therapy-mediated gene transfer can lead to widespread expression of the gene product, cardiac myosin-binding protein C (MyBP-C), in cardiac tissue, which can normalize cardiac hypertrophy, improve relaxation kinetics and potentially alleviate functional deficits in individuals suffering from cardiomyopathy. IND enabling studies are underway and have incorporated pre-IND feedback from the FDA. BioMarin's goal is to submit an IND for BMN 293 in the second half of 2023.
2023 Full-Year Financial Guidance (in millions, except % and EPS amounts) (Updated)
BioMarin will host a conference call and webcast to discuss second quarter 2023 financial results today, Monday, July 31, 2023, at 4:30 p.m. ET. This event can be accessed through this link or on the investor section of the BioMarin website at www.biomarin.com.
About BioMarin
Founded in 1997, BioMarin is a global biotechnology company dedicated to transforming lives through genetic discovery. The Company develops and commercializes targeted therapies that address the root cause of genetic conditions. BioMarin's robust research and development capabilities have resulted in multiple innovative commercial therapies for patients with rare genetic disorders. The Company's distinctive approach to drug discovery has produced a diverse pipeline of commercial, clinical, and pre-clinical candidates that address a significant unmet medical need, have well-understood biology, and provide an opportunity to be first-to-market or offer a substantial benefit over existing treatment options. For additional information, please visit www.biomarin.com.
Forward-Looking Statements
This press release and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: the expectations of Total Revenues, Net Product Revenues, Enzyme Product Revenues, Gross Profit, Research and Development Expense (R&D), Selling, General and Administrative Expense (SG&A), GAAP Net Income, Non-GAAP Income, GAAP Diluted EPS and Non-GAAP Diluted EPS for the full-year 2023; cash flows from operating activities; the timing of orders for commercial products; the timing of BioMarin's clinical development and commercial prospects, including announcements of data from clinical studies and trials; the clinical development and commercialization of BioMarin's product candidates and commercial products, including (i) the potential to leverage VOXZOGO in conditions beyond achondroplasia, such as hypochondroplasia, (ii) the results from clinical studies regarding product expansion opportunities for ROCTAVIAN, (iii) BioMarin's plans to initiate and enroll an expanded study of BMN 255 in the second half of 2023, (iv) BioMarin's plan to submit an IND for BMN 349 in the second half of 2023, and (v) BioMarin's goal to submit an IND for BMN 293 in the second half of 2023; the potential approval and commercialization of BioMarin's product candidates, including commercialization of ROCTAVIAN for the treatment of severe hemophilia A in the U.S. following FDA approval in June 2023, and the timing of such approval decisions and product launches, including (i) the anticipated start and growth of commercial sales of VOXZOGO in additional countries, and (ii) BioMarin's expectation that U.S. and EU health authorities take action on its supplemental marketing applications for VOXZOGO in the coming months and the number of additional children that will be eligible for VOXZOGO if such age expansions are accepted; the expected benefits and availability of BioMarin's product candidates; and potential growth opportunities and trends, including that BioMarin expects accelerated growth of VOXZOGO revenues as the product launch continues in future quarters and that BioMarin expects growth of ROCTAVIAN revenues as the product's access is expanded in Europe and following commercial launch in the U.S.
These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: BioMarin's success in the commercialization of its commercial products, impacts of macroeconomic and other external factors on BioMarin's operations; results and timing of current and planned preclinical studies and clinical trials and the release of data from those trials; BioMarin's ability to successfully manufacture its commercial products and product candidates; the content and timing of decisions by the FDA, the European Commission and other regulatory authorities concerning each of the described products and product candidates; the market for each of these products; actual sales of BioMarin's commercial products; the introduction of generic versions of BioMarin's commercial products, in particular generic versions of KUVAN; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission (SEC), including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 as such factors may be updated by any subsequent reports. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin®, BRINEURA®, KUVAN®, NAGLAZYME®, PALYNZIQ®, VIMIZIM® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc., or its affiliates. ROCTAVIANTM is a trademark of BioMarin Pharmaceutical Inc. ALDURAZYME® is a registered trademark of BioMarin/Genzyme LLC. All other brand names and service marks, trademarks and other trade names appearing in this release are the property of their respective owners.
Non-GAAP Information
The results presented in this press release include both GAAP information and Non-GAAP information. Non-GAAP Income is defined by the Company as GAAP Net Income excluding amortization expense, stock-based compensation expense, contingent consideration expense, and, in certain periods, certain other specified items, as detailed below when applicable. The Company also includes a Non-GAAP adjustment for the estimated tax impact of the reconciling items. Non-GAAP Diluted EPS is defined by the Company as Non-GAAP Income divided by Non-GAAP diluted shares outstanding
BioMarin regularly uses both GAAP and Non-GAAP results and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. Because Non-GAAP Income, Non-GAAP Diluted EPS and Non-GAAP Diluted Shares are important internal measurements for BioMarin, the Company believes that providing this information in conjunction with BioMarin's GAAP information enhances investors' and analysts' ability to meaningfully compare the Company's results from period to period and to its forward-looking guidance, and to identify operating trends in the Company's principal business. BioMarin also uses Non-GAAP Income internally to understand, manage and evaluate its business and to make operating decisions, and compensation of executives is based in part on this measure.
Non-GAAP Income and its components are not meant to be considered in isolation or as a substitute for, or superior to comparable GAAP measures and should be read in conjunction with the consolidated financial information prepared in accordance with GAAP. Investors should note that the Non-GAAP information is not prepared under any comprehensive set of accounting rules or principles and does not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Investors should also note that these Non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial measures; likewise, the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP financial measures. Because of the non-standardized definitions, the Non-GAAP financial measure as used by BioMarin in this press release and the accompanying tables may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
The following tables present the reconciliation of GAAP reported to Non-GAAP adjusted financial information:
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SOURCE BioMarin Pharmaceutical Inc.
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https://www.wymt.com/prnewswire/2023/07/31/biomarin-announces-strong-second-quarter-2023-results-record-breaking-revenues-first-half-2023-including-13-year-over-year-growth-year-to-date/
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:31 PM PDT Updated: Jul 31, 2023 / 12:31 PM PDT
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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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-honoring-our-workforce-highlight/
| 2023-07-31T21:21:30
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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.
View original content to download multimedia:
SOURCE BR Marketing Group
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https://www.wymt.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:26 PM PDT Updated: Jul 31, 2023 / 12:26 PM PDT
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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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-in-the-kitchen-greek-quinoa-bowls/
| 2023-07-31T21:21:36
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Total new annualized premiums up 11%; strong capital position
CARMEL, Ind., July 31, 2023 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $73.7 million, or $0.64 per diluted share, in 2Q23 compared to $233.3 million, or $1.99 per diluted share, in 2Q22. Net operating income (1) was $62.3 million, or $0.54 per diluted share, in 2Q23 compared to $135.1 million, or $1.15 per diluted share, in 2Q22.
"Production was strong in both our Consumer and Worksite Divisions, with notable sales increases in Life, Medicare Supplement and Supplemental Health, driven by continued growth in producing agent counts," said Gary C. Bhojwani, chief executive officer.
"Variable investment income results improved sequentially, yet reflect a tough comparable in the second quarter of 2022 when results reached a five-year high. Health claims impacted our results in the quarter. We expect this elevated claims experience to moderate in the second half of the year, based on leading indicators. Our long-term view of the Health business remains positive."
"New money rates were once again strong in the quarter at 6.34%, which drove continued improvement in the earned yield on investments allocated to insurance products. Our consolidated risk based capital (RBC) ratio of 386% was comfortably above our target as was our holding company liquidity of $176 million. Free cash flow generation in the quarter was robust."
Second Quarter 2023 Highlights (as compared to the corresponding period in the prior year where applicable)
- Total Health insurance new annualized premiums ("NAP") (4) up 15%; total Life insurance NAP up 8%
- Medicare Supplement NAP up 29%; Consumer Division field agent-sold Life insurance NAP up 20%
- Consumer Division field producing agent count up 8%; Worksite Division producing agent count up 32%
- Returned $47.4 million to shareholders
- Book value per share was $17.56; book value per diluted share, excluding accumulated other comprehensive loss,(2) was $32.34
- Return on equity ("ROE") of 14.8%; operating ROE, as adjusted,(6) of 8.0%
Adoption of New Accounting Standard
As previously disclosed, we adopted ASU 2018-12 related to targeted improvements to the accounting for long-duration insurance contracts effective January 1, 2023. We selected the modified retrospective transition method except for market risk benefits where we were required to use the full retrospective approach. All prior periods presented herein have been recast in accordance with the new standard. As a result of the adoption of the new guidance, shareholders' equity as of December 31, 2022, increased $368.0 million and was comprised of increases to retained earnings and accumulated other comprehensive income (loss) of $232.2 million and $135.8 million, respectively. Net income and operating earnings (1) for the second quarter of 2022 increased $97.2 million and $35.0 million, respectively. Concurrent with the adoption of the new guidance, we also updated the method of determining non-operating earnings for our fixed indexed annuities to better isolate the volatile non-economic accounting impacts of that line of business.
INSURANCE OPERATIONS
Annuity products accounted for 26 percent of the Company's margin for the quarter and annuity premiums collected decreased 8 percent in 2Q23 compared to 2Q22.
Health products accounted for 48 percent of the Company's insurance margin for the quarter and 63 percent of insurance policy income.
Life products accounted for 26 percent of the Company's insurance margin for the quarter and 36 percent of insurance policy income.
Sales of health products were up 15 percent and sales of life products were up 8 percent in 2Q23 compared to 2Q22.
Total allocated expenses were $149.5 million, down 2 percent from 2Q22.
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The fair value of CNO's available for sale fixed maturity portfolio was $21.0 billion compared with an amortized cost of $23.6 billion. Net unrealized losses were comprised of gross unrealized gains of $106.1 million and gross unrealized losses of $2,710.8 million. The allowance for credit losses was $66.1 million at June 30, 2023.
At both amortized cost and fair value, 94 percent of fixed maturities, available for sale, were rated "investment grade".
Non-Operating Items
Net investment losses in 2Q23 were $31.3 million including the unfavorable change in the allowance for credit losses of $9.9 million which was recorded in earnings. Net investment losses in 2Q22 were $27.1 million including the unfavorable change in the allowance for credit losses of $23.7 million which was recorded in earnings.
During 2Q23 and 2Q22, we recognized a decrease in earnings of $4.0 million and $21.7 million, respectively, due to the net change in market value of investments recognized in earnings.
During 2Q23 and 2Q22, we recognized an increase in earnings of $50.4 million and $160.6 million, respectively, resulting from changes in the estimated fair value of embedded derivative liabilities and market risk benefits related to our fixed indexed annuities. Such amounts include the impacts of changes in market interest rates and equity impacts used to determine the estimated fair values of the embedded derivatives and market risk benefits.
In 2Q22, other non-operating items included an increase in earnings of $14.0 million for the mark-to-market change in the agent deferred compensation plan liability which was impacted by changes in the underlying actuarial assumptions used to value the liability. We recognize the mark-to-market change in the estimated value of this liability through earnings as assumptions change.
Statutory (based on non-GAAP measures) and GAAP Capital Information
Our consolidated statutory risk-based capital ratio was estimated at 386% at June 30, 2023, reflecting estimated 2Q23 statutory operating income of $37 million (and $76 million in the first six months of 2023) and the payment of insurance company dividends (net of capital contributions) to the holding company of $40.5 million during 2Q23 (and $74.7 million in the first six months of 2023).
During 2Q23, we repurchased $30.0 million of common stock under our securities repurchase program (including $0.9 million of repurchases settled in 3Q23). We repurchased 1.4 million common shares at an average cost of $22.28 per share. As of June 30, 2023, we had 113.7 million shares outstanding and had authority to repurchase up to an additional $641.8 million of our common stock. During 2Q23, dividends paid on common stock totaled $17.4 million.
Unrestricted cash and investments held by our holding company were $176 million at June 30, 2023, compared to $167 million at December 31, 2022.
Book value per common share was $17.56 at June 30, 2023 compared to $15.47 at December 31, 2022. Book value per diluted share, excluding accumulated other comprehensive income (loss) (2), was $32.34 at June 30, 2023, compared to $31.89 at December 31, 2022.
The debt-to-capital ratio was 36.3 percent and 39.2 percent at June 30, 2023 and December 31, 2022, respectively. Our debt-to-total capital ratio, excluding accumulated other comprehensive income (loss) (3) was 23.4 percent at both June 30, 2023 and December 31, 2022.
Return on equity for the trailing four quarters ended June 30, 2023 and 2022, was 14.8% and 20.9%, respectively. Operating return, excluding significant items, on equity, excluding accumulated other comprehensive income (loss) and net operating loss carryforwards (6) for the trailing four quarters ended June 30, 2023 and 2022, was 8.0% and 12.7%, respectively.
In this news release, CNO includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. CNO's definitions of non-GAAP measures may differ from other companies' definitions. More detailed information including various GAAP and non-GAAP measurements are located at CNOinc.com in the Investors section under SEC Filings.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Accordingly, please refer to CNO's cautionary statement regarding forward-looking statements, and the business environment in which the Company operates, contained in the Company's Form 10-K for the year ended December 31, 2022 and any subsequent Form 10-Q or Form 10-K on file with the Securities and Exchange Commission and on the Company's website at CNOinc.com in the Investors section. CNO specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
EARNINGS RELEASE CONFERENCE CALL WEBCAST:
The Company will host a conference call to discuss results on August 1, 2023 at 11:00 a.m. Eastern Time. During the call, we will be referring to a presentation that will be available at the Investors section of the company's website.
To participate by dial-in, please register at https://www.netroadshow.com/events/login?show=5ac4628b&confId=53584. Upon registering, you will be provided with call details and a registrant ID used to track attendance on the conference call. Reminders will also be sent to registered participants via email.
For those investors who prefer to listen to the call online, we will be broadcasting the call live via webcast. The event can be accessed through the Investors section of the company's website: ir.CNOinc.com. Participants should go to the website at least 15 minutes before the event to register and download any necessary audio software.
ABOUT CNO FINANCIAL GROUP
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services, and workforce benefits solutions through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.2 million policies and $34 billion in total assets. Our 3,400 associates, 4,600 exclusive agents and 4,000 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:22 PM PDT Updated: Jul 31, 2023 / 12:33 PM PDT
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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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-interview-of-the-week-adult-rashes/
| 2023-07-31T21:21:42
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For Q2 2023, revenue increased 15% to $19.4 million and customer locations increased 7% to 124,000. Q2 net loss dropped 75% from $3.9 million in Q2 2022 to $978,000 in Q2 2023, and ARR* for TTM** increased $11.8 million from $59.3 million as at June 30, 2022 to $71.1 million as at June 30, 2023, growth of 20%.
TORONTO , July 31, 2023 /PRNewswire/ - Givex Corp. ("Givex") (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the three-month period and six-month period ending June 30, 2023.
Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards ("IFRS").
"In Q2 2023, Givex continued to increase adjusted EBITDA by increasing gross profit and keeping a tight rein on payroll costs," said Don Gray, CEO of Givex. "Net loss decreased 75%, from $3.9 million to $978,000. We are working hard to continue this trend for the rest of the year."
Second Quarter Financial Highlights
Three-month period ending June 30, 2023 (with comparisons relative to the three-month period ending June 30, 2022)
- Revenue increased $2.6 million from $16.8 million to $19.4 million, 15% growth.
- Gross Profit increased $1.9 million from $12.2 million to $14.1 million, 16% growth.
- Adjusted EBITDA*** increased $0.7 million from $1.0 million to $1.7 million, 69% growth.
- Net Loss decreased $2.9 million from $3.9 million to $978,000, 75% decrease.
- Total Gross Transactional Value**** increased approximately $0.35 billion from $1.77 billion to $2.12 billion, 20% growth.
- POS Gross Transactional Value***** increased approximately $128 million from $347 million to $474 million, 37% growth.
- Customer Locations****** increased approximately 8,000, from 116,000 to 124,000, 7% growth.
Six-month period ending June 30, 2023 (with comparisons relative to the six-month period ending June 30, 2022)
- Revenue increased $5.4 million from $33.2 million to $38.6 million, 16% growth.
- Gross Profit increased $4.2 million from $23.1 million to $27.3 million, 18% growth.
- Adjusted EBITDA*** increased $0.4 million from $2.3 million to $2.7 million, 18% growth.
- Net Loss decreased $4.3 million from $6.5 million to $2.2 million, 66% decrease.
- Total Gross Transactional Value**** increased approximately $0.65 billion from $3.05 billion to $3.7 billion, 21% growth.
- POS Gross Transactional Value***** increased approximately $295 million from $584 million to $879 million, 51% growth.
Operational Highlights
- Payroll costs are the key focus to improved EBITDA and positive net earnings. For the 12-month periods ending June 30, 2023 and 2022, Employee Compensation******* as a % of Gross Profit was 53% and 54%, respectively. The company believes that its ability to reduce Employee Compensation as a % of Gross Profit is an indicator of its success in managing costs and profitability.
- ARR* (which is both recurring and reoccurring revenue) for TTM** increased $11.8 million from $59.3 million as at June 30, 2022 to $71.1 million as at June 30, 2023, growth of 20%.
More Information
Additional financial information, such as the audited annual Consolidated Financial Statements, Management's Discussion and Analysis of Financial Condition and Results of Operations, and Annual Information Form, is available on SEDAR+ at www.sedarplus.ca.
More information about Givex, including the Management Presentation and Overview, are posted on the company's investor relations website at investors.givex.com.
About Givex
The world is changing. Givex is ready. Since 1999, Givex has provided technology solutions that unleash the full potential of engagement, creating and cultivating powerful connections that unite brands and customers. With a global footprint of 124,000+ active locations across more than 100 countries, Givex unleashes strategic insights, empowering brands through reliable technology and exceptional support. Givex's integrated end-to-end management solution provides Gift Cards, GivexPOS, Loyalty Programs and more, creating growth opportunities for businesses of all sizes and industries. Learn more about how to streamline workflows, tackle complex challenges and transform data into actionable insights at www.givex.com.
Non-IFRS Measures and Reconciliation of Non-IFRS Measures
The information presented includes certain financial measures such as "Adjusted EBITDA" (see below for definition), which are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation.
Forward Looking Statements
This press release contains forward-looking information. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, the risk factors described under the "Risk Factors" section in the Annual Information Form (AIF) dated March 21, 2023, available on SEDAR+ at www.sedarplus.ca and other filings with the Canadian securities regulatory authorities. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made. See "Cautionary Note Regarding Forward-Looking Information" in the Filing Statement.
Additional Notes
*ARR is defined as Annual Recurring Revenue, which is both recurring and reoccurring revenue.
**TTM is trailing twelve months from the defined period.
***Adjusted EBITDA is defined as net profit (loss) excluding interest, taxes, depreciation and amortization ("EBITDA") as adjusted for share-based compensation and related expenses, foreign exchange gains and losses and transaction-related expenses including those related to going public and acquisitions.
****Gross transaction volume ("GTV") means the total dollar value of stored and point-of-sale ("POS") transactions processed through our cloud-based SaaS platforms in the period, net of refunds, inclusive of shipping and handling, duty, and value-added taxes. We believe GTV is an indicator of the success of our customers and the strength of our platforms. GTV does not represent revenue earned by us.
*****POS gross transactional volume ("POS GTV") means the total dollar value point-of-sale ("POS") transactions processed through GivexPOS, our cloud-based POS SaaS platform, in the period net of refunds, inclusive of shipping and handling, duty and value-added taxes. We believe POS GTV is an indicator of the success of our customers and the strength of our platforms. POS GTV does not represent revenue earned by us.
******Customer Location means a billing customer location for which the term of services has not ended, or with which we are negotiating a renewal contract. It includes both merchant locations that have transactions processed through our cloud-based SaaS platform, as well as merchant locations not on our platform but for which we provide other Givex services. A single unique customer can have multiple Customer Locations including physical and eCommerce sites. We believe that our ability to increase the number of Customer Locations served by our platform and products is an indicator of our success in terms of market penetration and growth of our business.
*******Employee Compensation as a % of Gross Profit means the total employee compensation for a period divided by the gross profit for the same period. Employee Compensation means total employee compensation including salaries and benefits, excluding both government assistance and share-based compensation. Gross Profit means revenue less direct cost of revenue.
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| 2023-07-31T21:21:46
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Fire crews battle apartment fire in central Fresno Video Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Illegal lab: Fresno councilmember calls for transparency Video PG&E crews working to restore power to Fresno Fire burns down local tire shop, Madera Co. Fire …
Bulldog Insider feature: “Just for Kicks” Video Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider conversation: Gabe Camarillo Video Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
Bulldog Insider feature: Levelle Bailey Video Surf’s Up! Will Kelly Slater’s Surf Ranch in Lemoore … Video
by: Amber Lynn Carroll, MedWatch Today Host Posted: Jul 31, 2023 / 12:24 PM PDT Updated: Jul 31, 2023 / 12:24 PM PDT
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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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-open-heart-surgery-at-clovis-community/
| 2023-07-31T21:21:48
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https://www.yourcentralvalley.com/med-watch-today/medwatch-today-open-heart-surgery-at-clovis-community/
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ST. LOUIS, July 31, 2023 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported that it set a new quarterly record for net sales in the second quarter of 2023.
Graybar's net sales for the second quarter of this year totaled $2.8 billion, an increase of 4.5% compared to the same period last year. Net income attributable to Graybar for the quarter finished at $124.2 million, a 2.7% decrease from the second quarter of 2022.
For the first half of 2023, the company reported net sales of $5.5 billion, an 8.1% increase compared to the same period last year. Net income attributable to Graybar for the first six months of 2023 increased 8.4% to $249.0 million.
"Thanks to the hard work of our employees, we continue to achieve positive results," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "We remain focused on providing exceptional service to our customers every day, while we make strategic investments to transform our business and strengthen our long-term position as an industry leader."
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 325 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.
Media Contact:
Tim Sommer
(314) 578-7672
timothy.sommer@graybar.com
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https://www.wymt.com/prnewswire/2023/07/31/graybar-achieves-record-net-sales-second-quarter/
| 2023-07-31T21:21:53
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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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https://www.yourcentralvalley.com/news/california/body-found-inside-55-gallon-drum-in-malibu/
| 2023-07-31T21:21:54
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https://www.yourcentralvalley.com/news/california/body-found-inside-55-gallon-drum-in-malibu/
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PORTERVILLE, Calif. (KSEE/KGPE) – A 40-year-old transient attacked a police officer in Porterville over the weekend, according to the city’s police department.
The incident began on the 1000 block of West Henderson Avenue at around 6:30 a.m. on Sunday. Officers say they received a report that a transient was acting aggressively toward security at the Government Plaza and arrived to find the suspect in the 900 block of West Henderson Avenue.
Officers say they attempted to arrest the suspect, identified as 40-year-old Misty Goodrick, but she became combative, punching the officers in the face, and attempting to take a baton from the holster of one of the responding officers.
Goodrick was taken into custody and booked on suspicion of being under the influence of a controlled substance, felony resisting arrest and assault on a peace officer causing injury. Two officers received minor injuries in the incident.
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https://www.yourcentralvalley.com/news/crime/40-year-old-transient-attacks-police-officer-in-porterville/
| 2023-07-31T21:22:00
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Published: Jul. 31, 2023 at 4:05 PM EDT|Updated: 1 hour ago
Broadband revenue up 20% and Video SaaS revenue up 58% year over year
SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the second quarter of 2023.
"While we achieved double digit year over year Broadband and Video SaaS revenue growth and strong gross margins for the second quarter, we experienced hardware sales delays across our business segments resulting in total revenue that was below our expectations," said Patrick Harshman, president and chief executive officer of Harmonic. "Despite these short-term headwinds, we have the largest backlog in our Company's history and our operating model continued to deliver solid profitability. The strength of our market position was reinforced by several new customer wins which further supports our multi-year growth plan."
Q2 Financial and Business Highlights
Financial
Revenue: $156.0 million, down 1% year over year
Gross margin: GAAP 54.5% and non-GAAP 54.7%, compared to GAAP 52.3% and non-GAAP 52.8% in the year ago period
Operating income: GAAP income $10.0 million and non-GAAP income $18.2 million, compared to GAAP income $15.1 million and non-GAAP income $21.4 million in the year ago period
Net income: GAAP net income $1.6 million and non-GAAP net income of $14.0 million, compared to GAAP net income $14.8 million and non-GAAP net income $17.6 million in the year ago period
Adjusted EBITDA: $21.1 million income compared to $24.3 million income in the year ago period
EPS: GAAP net income per share of $0.01 and non-GAAP net income per share of $0.12, compared to GAAP net income per share of $0.14 and non-GAAP net income per share of $0.16 in the year ago period
Cash: $71.0 million, down $50.8 million year over year
Business
CableOS® solution commercially deployed with 98 customers, serving 21.0 million cable modems, and initial orders received from two new Tier 1 customers
Recognized for the first time as the "cable broadband equipment" market share leader, by the most recent Dell'Oro Group1 report
Signed a follow-on multi-year software contract with an existing Tier 1 customer
Live sports streaming SaaS expansions and new wins drove 58.3% Video SaaS revenue growth year over year
Select Financial Information
Explanations regarding our use of non-GAAP financial measures and related definitions, and reconciliations of our GAAP and non-GAAP measures, are provided in the sections below entitled "Use of Non-GAAP Financial Measures" and "GAAP to Non-GAAP Reconciliations".
Financial Guidance
Conference Call Information
Harmonic will host a conference call to discuss its financial results at 2:00 p.m. PT (5:00 p.m. ET) on Monday, July 31, 2023. The live webcast will be available on the Harmonic Investor Relations website at http://investor.harmonicinc.com. To participate via telephone, please register in advance using this link, https://register.vevent.com/register/BI455acac6063542fb837fd89bddfb1d84. A replay will be available after 5:00 p.m. PT on the same web site.
About Harmonic Inc.
Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry's first virtualized broadband solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.
Legal Notice Regarding 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 statements related to our expectations regarding: net revenue, gross margins, operating expenses, operating income (loss), Adjusted EBITDA, tax expense and tax rate, EPS and cash. Our expectations regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, in no particular order, the following: the market and technology trends underlying our Video and Broadband businesses will not continue to develop in their current direction or pace; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the impact of general economic conditions on our sales and operations; the mix of products and services sold in various geographies and the effect it has on gross margins; delays or decreases in capital spending in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; losses of one or more key customers; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our CableOS and VOS product solutions; dependence on various video and broadband industry trends; inventory management; the lack of timely availability or the impact of increases in the prices of parts or raw materials necessary to produce our products; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business of natural disasters. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Harmonic's filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended December 31, 2022, our most recent Quarterly Report on Form 10-Q and our Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements.
Use of Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP" or referred to herein as "reported"). However, management believes that certain non-GAAP financial measures provide management and other users with additional meaningful financial information that should be considered when assessing our ongoing performance. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, establish operating budgets, set internal measurement targets and make operating decisions.
These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Harmonic's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Harmonic's results of operations in conjunction with the corresponding GAAP measures.
The Company believes that the presentation of non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, the Company's reported results prepared in accordance with GAAP.
The non-GAAP measures presented here are: Gross profit, operating expenses, income (loss) from operations, non-operating expenses and net income (loss) (including those amounts as a percentage of revenue), Adjusted EBITDA and net income (loss) per diluted share. The presentation of non-GAAP information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP, and is not necessarily comparable to non-GAAP results published by other companies. A reconciliation of the historical non-GAAP financial measures discussed in this press release to the most directly comparable historical GAAP financial measures is included with the financial statements provided with this press release. The non-GAAP adjustments described below have historically been excluded from our GAAP financial measures.
Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:
Stock-based compensation - Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance excluding stock-based compensation expenses. We believe that management is limited in its ability to project the impact stock-based compensation would have on our operating results. In addition, for comparability purposes, we believe it is useful to provide a non-GAAP financial measure that excludes stock-based compensation in order to better understand the long-term performance of our core business and to facilitate the comparison of our results to the results of our peer companies.
Restructuring and related charges - Harmonic from time to time incurs restructuring charges which primarily consist of employee severance, one-time termination benefits related to the reduction of its workforce, lease exit costs, and other costs. These charges are associated with material business shifts. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Non-cash interest expense and other expenses related to convertible notes and other debt - We record the amortization of issuance costs as non-cash interest expense. We believe that excluding these costs provides meaningful supplemental information regarding operational performance and liquidity, along with enhancing investors' ability to view the Company's results from management's perspective. In addition, we believe excluding these costs from the non-GAAP measures facilitates comparisons to our historical operating results and comparisons to peer company operating results.
Gain and losses on equity investments - We exclude the gain and losses from the sale of our equity investments in calculating our non-GAAP financial measures. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Discrete tax items and tax effect of non-GAAP adjustments - The income tax effect of non-GAAP adjustments relates to the tax effect of the adjustments that we incorporate into non-GAAP financial measures in order to provide a more meaningful measure of non-GAAP net income.
Depreciation - Depreciation expense, along with interest, tax and stock-based compensation expense, and restructuring charges, is excluded from Adjusted EBITDA because we do not believe depreciation and the other items relate to the ordinary course of our business or are reflective of our underlying business performance.
Non-recurring advisory fees - There were non-recurring costs that we excluded from non-GAAP results relating to professional accounting, tax and legal fees associated with strategic corporate initiatives, including assessing corporate structure and organization, as we seek to optimize value for our business.
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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| 2023-07-31T21:21:59
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FRESNO, Calif. (KSEE/KGPE) – Fresno Fire crews battled an apartment fire Monday morning in central Fresno.
Fresno Fire says the fire started around 8:30 a.m. at an apartment near Fresno Street and Andrews Avenue.
Firefighters say the apartment was just down the street from Fresno Fire Station #5 which allowed for a quick response.
Crews say two people were in the apartment when the fire started, one person was taken to the hospital with injuries, and the second person went to the hospital for evaluation and their condition is unknown.
The cause of the fire is under investigation.
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https://www.yourcentralvalley.com/news/local-news/fire-crews-battle-apartment-fire-in-central-fresno-2/
| 2023-07-31T21:22:06
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https://www.yourcentralvalley.com/news/local-news/fire-crews-battle-apartment-fire-in-central-fresno-2/
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(WKBN) — August begins with a full moon – and what’s more, it’s a supermoon.
The next full moon will occur at 2:32 p.m. ET Tuesday, Aug. 1. The moon will be below the horizon at that time, so you will have to wait until later in the day to catch the full moon.
Tuesday’s moon is the second of this year’s four “supermoons,” which appear bigger and brighter in the sky due to the distance of the moon from the Earth.
It is also the second of three full moons that will occur during the summer season.
What is the August full moon called?
According to NASA, the August full moon is called the “sturgeon moon,” a name that was published in the 1930s in the Maine Farmer’s Almanac.
According to the publication, the Native American tribe Algonquin gave the August full moon that name because it was easier for them to catch the prehistoric-looking sturgeon fish in larger bodies of water during this time of year.
NASA says another name for the August full moon is the “green corn” moon.
When can you see the Sturgeon supermoon?
The sturgeon moon will be nearly full when it rises Monday evening, July 31, but it will reach full illumination Tuesday afternoon, hitting its peak at 2:32 p.m. ET. However, it will be below the horizon at the time that 100% illumination is achieved.
You can catch a glimpse of the moon rising on Tuesday evening by looking toward the southeast after sunset.
The moon phase Monday evening through Tuesday morning is called the Waxing Gibbous, when the illuminated part of the moon goes from 50.1% to 99.9%.
The moon will still appear nearly full when rising Wednesday, Aug. 2.
What is a supermoon?
NASA defines a supermoon as any full moon occurring around the same time as the moon’s perigee, or closest point of orbit with the Earth. In contrast, an apogee is the point where the moon is farthest from the Earth.
The moon takes about 27 days to orbit the Earth, with its perigee occurring during each 27-day cycle.
NASA says there are roughly three to four supermoons each year, and they usually occur back to back. When the full moon occurs during its perigee, it will appear about 17% bigger and about 30% brighter than when it is at its apogee. To be considered a supermoon, the full moon has to occur when the moon is within at least 90% of its perigee.
According to the Farmer’s Almanac, the moon’s perigree can vary slightly from “month to month and year to year,” meaning the distance from Earth may not be the same each time.
Incidentally, the Farmer’s Almanac stated, this year’s new moon (the opposite of a full moon) on Jan. 21 was at its closest distance to Earth “in nearly 1,000 years (992 to be exact).”
A blue supermoon, one of 2023’s rare celestial occurrences, is coming later this month on Aug. 30. A blue moon occurs when there are two full moons in one month.
The last time two full supermoons graced the sky in the same month was in 2018. It is not expected to happen again until 2037.
This year’s first supermoon was in July. The fourth and last will be in September. The two in August will be closer than either of those.
The Associated Press contributed to this report.
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https://www.yourcentralvalley.com/news/second-supermoon-of-the-year-coming-on-tuesday/
| 2023-07-31T21:22:06
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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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PORT ANGELES, Washington (WJW) – An 8-year-old child was attacked by a cougar at Olympic National Park’s Lake Angeles on Saturday evening.
The child was with their family at Lake Angeles, south of Port Angeles, when the attack happened Saturday night, the National Park Service said Monday.
“The cougar casually abandoned its attack after being yelled and screamed at by the child’s mother,” NPS wrote in a news release. The child suffered only minor injuries and was taken to a local hospital for evaluation.
Park officials then evacuated the remaining campers in the Lake Angeles area, closing the space and Heather Park to the public. Olympic National Park wildlife biologist Tom Kay said in a statement that the decision to close the Lake Angeles Trail, Heather Park Trail, Switchback Trail, and the entire Klahhane Ridge Trail was made “out of an abundance of caution.”
Early Sunday morning, park law enforcement and wildlife personnel who specialize in cougar tracking were dispatched to the last known location of the cougar at Lake Angeles, the park service reported. If located, the cougar will be euthanized and removed from the park for a necropsy.
“This may provide clues as to why the animal attacked since cougars are rarely seen and attacks on humans are extraordinarily rare,” park officials said. “Olympic National Park has extensive protocols in place for wildlife observations, interactions, and attacks and the lethal removal of this cougar is in line with these protocols.”
Because Olympic National Park is considered “cougar territory,” NPS recommends visitors be prepared for the encounter. They should not hike or jog alone, and children should remain near adults. Pets should also be left at home.
Should you encounter a cougar, you should remain calm and avoid running, according to wildlife experts. Do your best to appear as large as possible, continue watching the animal, and be loud. NPS also recommends throwing items like rocks or sticks at the cougar.
There have been no recent deaths caused by cougars in Olympic National Park, according to NPS data.
It’s not the first wildlife attack in the national parks this year, though.
Last week, a woman was found dead after an “apparent bear encounter” near Yellowstone National Park. Earlier this month, a woman in the park suffered “significant injuries” after being gored by a bison.
The park warns that between mid-July and mid-August, bison are in mating season and “can become agitated more quickly.”
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https://www.yourcentralvalley.com/news/u-s-world/child-8-attacked-by-cougar-in-olympic-national-park-saved-by-mother/
| 2023-07-31T21:22:12
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AUSTIN, Minn., July 31, 2023 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, invites interested parties to participate in a webcast and conference call with Jim Snee, chairman of the board, president and chief executive officer; Jacinth Smiley, executive vice president and chief financial officer; and Deanna Brady, executive vice president, Retail; to discuss the company's third quarter financial results. The company will issue its earnings release before the markets open on Thursday, August 31, 2023, and will host a conference call at 8 a.m. CT (9 a.m. ET).
The webcast, replay and other information related to the event can be accessed on the company's investor website, http://investor.hormelfoods.com.
ABOUT HORMEL FOODS — Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters®, SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, WHOLLY®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on the "100 Best Corporate Citizens" list by 3BL Media 13 times, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com.
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HCSO sergeant arrested after argument over parking spot in Manatee County: Authorities
TAMPA, Fla. - A sergeant with the Hillsborough County Sheriff's Office was placed on administrative leave after he was arrested Sunday.
Officials with the sheriff's office said their sergeant, 52-year-old Brendan Fitzgerald, was arrested in Manatee County after an argument over a parking spot.
Fitzgerald was taken into custody on an obstruction without violence charge by the Bradenton Beach Police Department, HCSO said.
No other information was immediately available from investigators.
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https://www.fox13news.com/news/hcso-sergeant-arrested-after-argument-over-parking-spot-in-manatee-county-authorities
| 2023-07-31T21:22:17
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TAMPA, Fla. (WFLA) — Florida is seeing a rise in leprosy cases that could mean the disease has become endemic in the Sunshine State, according to a letter published by the Centers for Disease Control and Prevention.
The letter, which was published in mid-July, said while leprosy is historically uncommon in the United States, cases more than doubled in the South over the last 10 years.
Leprosy, also known as Hansen’s Disease, is caused by the bacterium Mycobacterium leprae and is characterized by discolored patches of skin, ulcers, lumps and damage to the nerves.
The CDC said if untreated, the disease can progress to paralysis, blindness, the loss of one’s eyebrows, physical disfigurement, and even the “shortening of toes and fingers due to reabsorption.”
The Florida Department of Health said the disease first appeared in the state in 1921. The National Hansen’s Disease Program found that 159 cases of leprosy were reported in 2020. Florida was at the top of the list of states with the most new cases.
According to the Florida Health Charts, the state had 26 reported cases in 2019, 27 in 2020, and 14 in 2021.
“Central Florida, in particular, accounted for 81% of cases reported in Florida and almost one-fifth of nationally reported cases,” the letter said. “Whereas leprosy in the United States previously affected persons who had immigrated from leprosy-endemic areas, [about] 34% of new case-patients during 2015–2020 appeared to have locally acquired the disease.”
A disease becomes endemic when it occurs regularly within a certain community or area.
The CDC letter said multiple cases showed no sign of animal-to-human transmission or “traditionally known risk factors.”
One patient, a 54-year-old man in Central Florida, was treated at a dermatology clinic for a progressive rash caused by leprosy.
When asked, the man said he had lived in Central Florida his whole life, did not travel domestically or internationally, had no exposure to armadillos (which can carry the disease), had no contact with immigrants with endemic leprosy, and had no connection to someone with the disease.
Experts said there was some support for the theory that an increase in migration from other countries to the United States may have caused the disease to enter non-endemic areas. However, while leprosy cases are increasing in the U.S., the rate of new cases in people born outside of the U.S. had been on a decline since 2002.
“This information suggests that leprosy has become an endemic disease process in Florida, warranting further research into other methods of [local] transmission,” the letter said.
In the state of Florida, medical practitioners must report leprosy by the next business day so contact tracing can be done and reduce further infections.
“In our case, contact tracing was done by the National Hansen’s Disease Program and revealed no associated risk factors, including travel, zoonotic exposure, occupational association, or personal contacts,” the letter said. “The absence of traditional risk factors in many recent cases of leprosy in Florida, coupled with the high proportion of residents, like our patient, who spend a great deal of time outdoors, supports the investigation into environmental reservoirs as a potential source of transmission.”
The CDC said travel to Florida must now be considered when conducting contact tracing for leprosy in any state.
Leprosy, when contracted, can be treated by a combination of different antibiotics to prevent it from developing resistance to the medication, according to the CDC. Leprosy can be cured after one or two years of treatment.
However, even when cured, any nerve damage and disfigurement caused by the disease will be permanent.
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https://www.yourcentralvalley.com/news/u-s-world/leprosy-could-become-endemic-in-florida-as-cases-rise-cdc-says/
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Published: Jul. 31, 2023 at 4:15 PM EDT|Updated: 1 hour ago
Second Quarter Highlights
Second quarter 2023 net income attributable to Huntsman of $19 million compared to $228 million in the prior year period; second quarter 2023 diluted earnings per share of $0.11 compared to $1.10 in the prior year period.
Second quarter 2023 adjusted net income attributable to Huntsman of $39 million compared to $250 million in the prior year period; second quarter 2023 adjusted diluted earnings per share of $0.22 compared to $1.21 in the prior year period.
Second quarter 2023 adjusted EBITDA of $156 million compared to $410 million in the prior year period.
Second quarter 2023 net cash provided by operating activities from continuing operations was $40 million. Free cash flow from continuing operations was a use of cash of $11 million for the second quarter 2023 compared to a source of cash of $178 million in the prior year period.
Repurchased approximately 3.8 million shares for approximately $98 million in the second quarter 2023.
THE WOODLANDS, Texas, July 31, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported second quarter 2023 results with revenues of $1,596 million, net income attributable to Huntsman of $19 million, adjusted net income attributable to Huntsman of $39 million and adjusted EBITDA of $156 million.
Peter R. Huntsman, Chairman, President, and CEO, commented:
"During the quarter, business activity in each of our core regions remained under pressure, although we did see demand fundamentals in many of our core markets stabilize, albeit at a lower level than the prior year. We continued to drive efficiencies in our cost structure which will ensure we are well positioned to improve profitability once demand returns to a more normalized level. We remain positive on the long-term trends and value we will capture in energy efficiency and lightweighting in the construction, transportation, and industrial markets. Over the past several years we have made a significant effort to reduce leverage and drive capital discipline. The output of this effort is now allowing us to return significant amounts of capital to shareholders during a year which for the chemical industry may end up being just as, if not more, challenging than the pandemic year 2020. Our financial strength is also allowing us to evaluate both organic and in-organic investment opportunities to strengthen our Company for the long-term, however, we will continue to be disciplined with our available capital and protect our investment grade rating."
Segment Analysis for 2Q23 Compared to 2Q22
Polyurethanes
The decrease in revenues in our Polyurethanes segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, lower MDI average selling prices and the negative impact of foreign currency exchange rate movements against the U.S dollar. Sales volumes decreased primarily due to lower demand, primarily in the Americas. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes, lower MDI margins, the negative impact of foreign currency exchange rate movements against the U.S. dollar and a gain from an insurance settlement received in the second quarter of 2022, partially offset by higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization programs.
Performance Products
The decrease in revenues in our Performance Products segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes and reduced average selling prices, partially offset by improved sales mix. Sales volumes decreased in all regions primarily due to slowing construction activity, and reduced demand in coatings and adhesives, lubes and other industrial markets. The decrease in segment adjusted EBITDA was primarily due to decreased sales volumes and lower average selling prices.
Advanced Materials
The decrease in revenues in our Advanced Materials segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased primarily due to reduced customer demand in our infrastructure markets and the deselection of lower margin business. Average selling prices increased largely due to improved sales mix. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes.
Corporate, LIFO and other
For the three months ended June 30, 2023, adjusted EBITDA from Corporate and other was a loss of $38 million, which remained the same as a loss of $38 million for the same period of 2022.
Liquidity and Capital Resources
During the three months ended June 30, 2023, our free cash flow from continuing operations was a use of cash of $11 million as compared to a source of cash of $178 million in the same period of 2022. As of June 30, 2023, we had approximately $1.9 billion of combined cash and unused borrowing capacity.
During the three months ended June 30, 2023, we spent $51 million on capital expenditures from continuing operations as compared to $65 million in the same period of 2022. During 2023, we expect to spend between $230 million to $250 million on capital expenditures.
Income Taxes
In the second quarter of 2023, our effective tax rate was 46% and our adjusted effective tax rate was 39%. We expect our 2023 adjusted effective tax rate to be approximately 26% to 29%. We expect our long-term adjusted effective tax rate to be approximately 22% to 24%. Our second quarter 2023 tax expense was negatively impacted by an $8 million non-cash valuation allowance increase.
Earnings Conference Call Information
We will hold a conference call to discuss our second quarter 2023 financial results on Tuesday, August 1, 2023, at 10:00 a.m. ET.
The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.
Upcoming Conferences During the third quarter 2023, a member of management is expected to present at: UBS Chemical Conference on September 6, 2023 Jefferies Industrials Conference on September 7, 2023
A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.
About Huntsman: Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward-Looking Statements: This press release includes "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. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, increased energy costs in Europe, inflation and resulting monetary tightening in the US, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
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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Idaho mom Lori Vallow Daybell sentenced in deaths of 2 children and her romantic rival
BOISE, Idaho - Idaho mother Lori Vallow Daybell has been sentenced to life in prison without parole Monday in the murders of her two youngest children and a romantic rival in a case that included bizarre claims that her son and daughter were zombies and that she was a goddess sent to usher in the Biblical apocalypse.
Vallow Daybell was found guilty in May of killing her two youngest children, 7-year-old Joshua "JJ" Vallow and 16-year-old Tylee Ryan, as well as conspiring to kill Tammy Daybell, her fifth husband’s previous wife. Vallow Daybell will serve three life sentences one after the other, the judge said.
The husband, Chad Daybell, is awaiting trial on the same murder charges. Vallow Daybell also faces two other cases in Arizona — one on a charge of conspiring with her brother to kill her fourth husband, Charles Vallow, and one of conspiring to kill her niece's ex-husband. Charles Vallow was shot and killed in 2019, but her niece's ex survived an attempt later that year.
At the Fremont County Courthouse in St. Anthony, Idaho, Judge Steven W. Boyce heard testimony from several representatives of the victims, including Vallow Daybell's only surviving son, Colby Ryan.
A parent killing their own children "is the most shocking thing really that I can imagine," Boyce said.
Vallow Daybell justified the murders by "going down a bizarre religious rabbit hole, and clearly you are still down there," the judge said.
"I don’t think to this day you have any remorse for the effort and heartache you caused," he said.
Boyce heard testimony from several representatives of the victims, including Vallow Daybell's only surviving son, Colby Ryan.
"Tylee will never have the opportunity to become a mother, wife or have the career she was destined to have. JJ will never be able to grow and spread his light with the world the way he did," Ryan wrote in a statement read by prosecuting attorney Rob Wood. "My siblings and father deserve so much more than this. I want them to be remembered for who they were, not just a spectacle."
Ryan also wrote about his own grief.
"I’ve lost the opportunity to share life with the people I love the most. I have lost my sister, father, brother and my mother," he wrote. "I pray for healing for everyone involved, including those who took the lives of everyone we loved."
The murder scheme and Tammy Daybell’s death left a deep rift in her family, Tammy’s sister Samantha Gwilliam told the court.
"Why? Why plan something so heinous? You are not exalted beings, and your behavior makes you ineligible to be one," Gwilliam said, referring to the unusual religious claims. "Because of the choices you made, my family lost a beloved mother, sister and daughter."
Tammy Daybell’s mother was fighting cancer, and spent the last months of her life watching the murder trial, Gwilliam said. The family has also been hounded by media and others drawn by "all of the salacious scandal you stirred up," Gwilliam told Vallow Daybell, who looked down as she sat between her defense attorneys.
"I miss my sister every day. I will grieve her, and the loss of my mother, every single day of my life," Gwilliam said. "As for you, I choose to forget you and as I leave the courtroom here today, I choose to never think of you again."
Boyce also heard from Vallow Daybell before handing down the sentence. She quoted Bible verses about how people should not judge each other. She said she too mourned the deaths of her children and Tammy Daybell but knew they would be together in the afterlife.
She claimed she is regularly visited by the spirits of her dead children, as well as the spirit of her "eternal friend," Tammy Daybell, and suggested that the three weren’t murdered at all.
"Jesus Christ knows that no one was murdered in this case," she said. "Accidental deaths happen. Suicides happen. Fatal side effects from medication happen."
Wood pointed to the two Arizona cases as well as the three murders in six weeks in Idaho.
"A defendant who is willing to murder her own children is willing to murder anyone," Wood said. "Society can only be protected from this defendant by a sentence of life in prison without parole."
Vallow Daybell was committed multiple times for treatment to make her mentally competent for the court proceedings. But Wood said there is no evidence that her crimes were impacted by her "alleged mental illness" — which includes delusional disorder with grandiose features, according to reports referenced in court.
"The evidence is overwhelming that she did know right from wrong," Wood said, noting testimony from several people who said she lied to them about the deaths.
In July 2019, Vallow Daybell’s brother, Alex Cox, shot and killed her estranged husband, Charles Vallow, in a suburban Phoenix home. Cox told police he acted in self-defense. He was never charged and later died of what authorities determined were natural causes.
Vallow Daybell was already in a relationship with Chad Daybell, a self-published writer of doomsday-focused fiction loosely based on Mormon teachings. She moved to Idaho with her kids and brother to be closer to him.
The children were last seen alive in September 2019. Police discovered they were missing a month later after an extended family member became worried. Their bodies were found buried in Chad Daybell's yard the following summer.
During the trial, experts said Tylee appeared to have been stabbed and her body burned before it was buried in a pet cemetery, Wood said.
JJ’s head was wrapped in tape and plastic, asphyxiating him, Wood said, speculating that his last thoughts must have "been filled with fear and betrayal."
Tammy Daybell’s body was bruised, suggesting she fought back as she was asphyxiated in her bed, Wood said.
Chad Daybell and Lori Vallow married in November 2019, about two weeks after Daybell's previous wife, Tammy, was killed. Tammy Daybell initially was described as having died of natural causes, but an autopsy later showed she had been asphyxiated, authorities said.
Defense attorney Jim Archibald argued during the trial that there was no evidence tying Vallow Daybell to the killings, but plenty showing she was a loving, protective mother whose life took a sharp turn when she met Chad Daybell and fell for his "weird" apocalyptic religious claims. He suggested that Daybell and Vallow Daybell’s brother, Alex Cox, were responsible for the deaths.
Daybell told her they had been married in several previous lives and she was a "sexual goddess" who was supposed to help him save the world by gathering 144,000 followers so Jesus could return, Archibald said.
Vallow Daybell’s former friend Melanie Gibb testified during the trial that Vallow Daybell believed people in her life had been taken over by evil spirits and turned into "zombies," including JJ and Tylee.
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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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ARMONK, N.Y., July 31, 2023 /PRNewswire/ -- The IBM (NYSE: IBM) board of directors has elected Michael Miebach to the board, effective October 30, 2023.
Michael Miebach, 55, is the chief executive officer of Mastercard Incorporated and a member of its board of directors. An innovator and technologist, Mr. Miebach has led Mastercard, a global technology company in the payments industry, since January 2021. Previously Mastercard's chief product officer, Mr. Miebach has deep experience in digital transformation, cybersecurity and delivering data-driven insights.
Arvind Krishna, IBM chairman and chief executive officer, said: "We are delighted that Michael Miebach will join the IBM board of directors. Michael is an accomplished technologist and international business leader. His insights and experience will strongly benefit IBM and its shareholders."
Mr. Miebach is a member of the Business Roundtable, the Business Council and the International Business Council of the World Economic Forum. He is a trustee of the United States Council for International Business and also serves on the United States Treasury Advisory Committee on Racial Equity.
Mr. Miebach holds a Master of Business Administration from the University of Passau in Germany.
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NOTICE TO SHAREHOLDERS – SOURCES OF DISTRIBUTION UNDER SECTION 19(a)
BOSTON, July 31, 2023 /PRNewswire/ - John Hancock Premium Dividend Fund (NYSE: PDT) (the "Fund"), a closed-end fund managed by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC, announced today sources of its monthly distribution of $0.0825 per share paid to all shareholders of record as of July 13, 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.
This notice provides shareholders of the John Hancock Premium Dividend Fund (NYSE: PDT) with important information concerning the distribution declared on June 30, 2023, and payable on July 31, 2023. No action is required on your part.
The following table sets forth the estimated sources of the current distribution, payable July 31, 2023, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income; net realized short term capital gains; net realized long term capital gains; and return of capital or other capital source. All amounts are expressed on a per common share basis and as a percentage of the distribution amount.
You 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.
The Fund estimates that it has distributed more than its income and net realized capital gains; 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 amounts and sources of distributions reported in this Notice are only estimates and are not being provided 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.
The Fund has declared the July 2023 distribution pursuant to the Fund's managed distribution plan (the "Plan"). Under the Plan, the Fund makes fixed monthly distributions in the amount of $0.0825 per share, which will continue to be paid monthly until further notice.
If you have questions or need additional information, please contact your financial professional or call the John Hancock Investment Management Closed-End Fund Information Line at 1-800-843-0090, Monday through Friday between 8:00 a.m. and 7:00 p.m., Eastern Time.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.
About John Hancock Investment Management
A company of Manulife Investment Management, we serve investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship.
About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
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A Baltimore County judge denied prosecutors’ attempt to remove a public defender representing a Cockeysville man accused of shooting two police officers from the case.
Judge Dennis M. Robinson Jr. on Monday denied the state’s motion to disqualify public defender Deborah Katz Levi from representing David Linthicum, 24, who was arrested in February in Fallston after a day-and-a-half-long search through multiple counties.
A grand jury indicted Linthicum on five counts of attempted murder in March. He also faces charges of first-degree assault, carjacking, stealing a car, use of a firearm in a violent crime and possession of a loaded handgun in Baltimore County. Police have said Linthicum shot Baltimore County Police Detective Jonathan Chih and Officer Barry Jordan.
Prosecutors argued in Monday’s hearing that the court should strike Levi from the case because she is married to Andrew Alperstein, a partner at the law firm Alperstein & Diener. Alperstein’s brother, Warren Alperstein, who also is a partner in the law firm, is representing Chih in the detective’s workers’ compensation case. District Public Defender for Baltimore County James Dills is also defending Linthicum.
County police officers, including Jordan, responded to Linthicum’s house in the afternoon of Feb. 8 after his father reported that his son was suicidal, according to charging documents. Linthicum’s father led Jordan into his son’s bedroom, where Linthicum fired at them with a high-powered rifle in what the defense called in court papers an attempt at “suicide by cop.”
After Linthicum fled and county police spent a day searching for him, Chih found Linthicum walking down down the road at about 9:30 p.m. on Feb. 9. Footage from Chih’s body-worn camera showed Linthicum fire numerous rounds, according to charging papers. Chih returned fire as he tried to retreat. The detective spent 10 days in the hospital, undergoing what doctors called “significant reconstruction.”
Deputy State’s Attorney John Cox said the state sought to avoid allowing Linthicum to argue post-conviction that Levi had failed to adequately defend him because she stood to financially benefit from Chih’s compensation claim through attorney fees paid to her husband’s firm.
“It’s our job to try to keep a conviction clean,” Cox said in Monday’s hearing. Because Chih’s workers’ compensation claim could be denied if he had intentionally tried to kill or injure Linthicum, Cox argued Levi might fail to aggressively cross-examine Chih.
The defense called Lydia Lawless, the former bar counsel for the Attorney Grievance Commission, as an expert witness. Lawless, now a partner at Kramon and Graham, testified and wrote in a report that there was no conflict of interest in the Maryland Attorneys’ Rules for Professional Conduct that prohibited Levi from representing Linthicum. She also said that Linthicum could give informed consent to waive any potential or actual conflicts.
Robinson said he did not believe “for a nanosecond” that Levi or another reasonable attorney would change her cross-examination approach because of the relationship described. The state also did not present sufficient evidence on the financial workings of the Alperstein’s legal practice, Robinson said.
“I conclude that there is not an actual or potential for conflict,” Robinson said.
The Morning Sun
Levi called the conflict “manufactured” and said the motion to strike her from the case was “frivolous” and “bullying.” She said the state had interfered with Linthicum’s right to counsel and asked that the state pay the experts’ fees for Lawless, a request Robinson denied.
“I’m an individual with my own bar card and my own bank account and I do my own job,” Levi said. She said she maintains her own financial account and could only benefit financially in the “misogynistic view” that every woman profits from her husband’s success.
Levi described the motion from Cox, Baltimore County State’s Attorney Scott Shellenberger’s “second in command,” to remove her from the case as part of a pattern to target her personally in this case.
She argued in a separate motion Monday that the prosecution had failed to turn over evidence to the defense as required. Levi requested records, including 911 audio, from Baltimore County Attorney James Benjamin. In a July 24 letter, Cox wrote to Benjamin that the county attorney’s office was not required to respond to an Maryland Public Information Act request for records Levi requested. The letter also referenced a subpoena Levi sent to Benjamin directing his office to produce records at Monday’s hearing.
“I will not rest,” she said. “And the state doesn’t like that.”
When asked after the hearing about Levi’s accusations that the prosecution was targeting her of a pattern after the hearing, Cox said, “I disagree,” and declined to comment further.
When asked after the hearing about Levi’s accusations that the prosecution was attempting to undermine her case, Cox said, “I disagree,” and declined to comment further.
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https://www.baltimoresun.com/maryland/baltimore-county/bs-md-co-linthicum-motions-conflict-20230731-z4a6fkdkoffihngsapurjwfzga-story.html
| 2023-07-31T21:22:29
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https://www.baltimoresun.com/maryland/baltimore-county/bs-md-co-linthicum-motions-conflict-20230731-z4a6fkdkoffihngsapurjwfzga-story.html
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With dangerously high temperatures across the country, hospitals are seeing more people with potentially deadly heat illness. A southern city is coping with what may be the new summer medical reality.
Copyright 2023 NPR
With dangerously high temperatures across the country, hospitals are seeing more people with potentially deadly heat illness. A southern city is coping with what may be the new summer medical reality.
Copyright 2023 NPR
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https://www.apr.org/science-health/science-health/2023-07-31/a-new-summer-reality-hospitals-and-ers-see-more-parents-with-heat-related-illness
| 2023-07-31T21:22:29
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https://www.apr.org/science-health/science-health/2023-07-31/a-new-summer-reality-hospitals-and-ers-see-more-parents-with-heat-related-illness
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Lakeland man killed after speeding while trying to pass car, officials say
LAKELAND, Fla. - Police say a 23-year-old Lakeland driver died on Sunday after trying to pass another car.
According to local law enforcement, they arrived around 2 p.m. at the 1800 block of Olive Street to find Samuel Romero unresponsive inside his gold 2006 Nissan Armada.
Based on the investigation, officials say they believe Romero was speeding while headed east on Olive Street when he passed a car headed in the same direction on a double yellow line.
READ: Bicyclist killed in hit-and-run crash; Police searching for driver
Investigators say the SUV entered a grass median and hit a closed road sign on the side of the road. When the Nissan went back into the road, police say that Romero lost control and hit a utility pole and a fence before tipping over on the south side of the road.
The Lakeland Police Department, Polk County Fire Rescue, and the Lakeland Fire Department say when they arrived at the scene they began life-saving measures.
Romero died at the scene of the crash, according to first responders.
READ: 27-year-old pedestrian killed in fatal crash on Veterans Expressway
The Traffic Homicide team also responded to the scene and took over the investigation. Officials say the investigation is still ongoing.
Anyone with information regarding the crash is asked to contact Traffic Crash Investigator Officer Tyler Anderson at tyler.anderson@lakelandgov.net.
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https://www.fox13news.com/news/lakeland-man-killed-after-speeding-and-trying-to-pass-car-officials-say
| 2023-07-31T21:22:29
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https://www.fox13news.com/news/lakeland-man-killed-after-speeding-and-trying-to-pass-car-officials-say
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AUSTIN (KXAN) — A KXAN viewer said she saw baby foxes, also known as kits, playing on a trampoline in her garden Sunday in the north Austin, Texas, area.
That was only a couple of weeks after another viewer said she saw a family of foxes playing on the St. Edward’s University campus in Austin.
According to the Humane Society of the United States, it’s not unusual to see foxes in cities and towns, where food sources are easily found, including in your garbage.
While foxes live around the world in many different types of habitats, according to the Texas Wildlife Association, including the Arctic, the desert and even in trees, some foxes have also adapted to life in such urban environments as neighborhoods.
“Next time you are outside in a park, remember to look up, because if you are lucky, you might see a fox up in the trees,” TWA said.
TWA said three types of foxes live in Texas, including the swift fox, the red fox and the gray fox.
The swift, or kit fox, lives in the northwestern part of the state, the red fox inhabits the eastern and central parts, and the gray fox, the most common variety, can be found statewide, the TWA said.
The Humane Society said foxes are scared of people and are not typically dangerous except when they are rabid, which the society says is rare.
“Even then, a fox’s natural tendency is to flee rather than fight,” the Human Society stated.
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https://www.yourcentralvalley.com/news/u-s-world/video-foxes-seen-playing-on-trampoline-in-texas/
| 2023-07-31T21:22:32
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NOTICE TO SHAREHOLDERS – SOURCES OF DISTRIBUTION UNDER SECTION 19(a)
BOSTON, July 31, 2023 /PRNewswire/ - John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) (the "Fund"), a closed-end fund managed by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC, announced today sources of its monthly distribution of $0.1380 per share paid to all shareholders of record as of July 13, 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.
This notice provides shareholders of the John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) with important information concerning the distribution declared on July 3, 2023, and payable on July 31, 2023. No action is required on your part.
The following table sets forth the estimated sources of the current distribution, payable July 31, 2023, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income; net realized short term capital gains; net realized long term capital gains; and return of capital or other capital source. All amounts are expressed on a per common share basis and as a percentage of the distribution amount.
You 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.
The Fund estimates that it has distributed more than its income and net realized capital gains; 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 amounts and sources of distributions reported in this Notice are only estimates and are not being provided 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.
The Fund has declared the July 2023 distribution pursuant to the Fund's managed distribution plan (the "Plan"). Under the Plan, the Fund makes fixed monthly distributions in the amount of $0.1380 per share, which will continue to be paid monthly until further notice.
If you have questions or need additional information, please contact your financial professional or call the John Hancock Investment Management Closed-End Fund Information Line at 1-800-843-0090, Monday through Friday between 8:00 a.m. and 7:00 p.m., Eastern Time.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.
About John Hancock Investment Management
A company of Manulife Investment Management, we serve investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship.
About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
View original content:
SOURCE John Hancock Investment Management
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https://www.wymt.com/prnewswire/2023/07/31/john-hancock-tax-advantaged-dividend-income-fund/
| 2023-07-31T21:22:34
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Many public housing residents are especially vulnerable to extreme heat, but there's no federal requirement for air conditioning. That leaves cash-strapped local agencies struggling to provide it.
Copyright 2023 NPR
Many public housing residents are especially vulnerable to extreme heat, but there's no federal requirement for air conditioning. That leaves cash-strapped local agencies struggling to provide it.
Copyright 2023 NPR
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https://www.apr.org/science-health/science-health/2023-07-31/getting-ac-to-residents-of-public-housing-where-extreme-heat-can-be-dangerous
| 2023-07-31T21:22:35
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https://www.apr.org/science-health/science-health/2023-07-31/getting-ac-to-residents-of-public-housing-where-extreme-heat-can-be-dangerous
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Suspect flees traffic stop, leads authorities on multi-county chase before arrest, FHP says
TAMPA, Fla. - On Sunday night, a suspect was taken into custody after fleeing from a traffic stop and leading authorities on a multi-county chase, according to the Florida Highway Patrol.
Troopers say at 7:55 p.m. Tampa PD asked FHP for assistance with a vehicle that fled from a traffic stop in Hillsborough County.
Two troopers were staged on I-75, south of SR-50, in Hernando County, when they intercepted the vehicle.
Courtesy: Florida Highway Patrol
The vehicle exited onto eastbound SR-50, where the troopers attempted to conduct a traffic stop but were unsuccessful.
READ: Hernando County man doesn't make it far on stolen vessel, deputies say
The driver, Daquann Stephens, then fled eastbound SR-50 into Sumter County and then northbound on SR-471, according to authorities.
Courtesy: Florida Highway Patrol
Troopers say the vehicle then made a U-turn on US 301 and traveled west on CR-470.
According to authorities, the chase ended after the vehicle exited onto westbound SR-44 and entered the parking lot of Pilot Travel Center.
The suspect was blocked in and taken into custody without further incident, troopers said.
Troopers say Stephens has been booked into the Sumter County Jail and is facing various charges including fleeing and eluding, reckless driving, possession of marijuana, and an out-of-county warrant (Hillsborough) for battery domestic violence.
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https://www.fox13news.com/news/suspect-flees-traffic-stop-leads-authorities-on-multi-county-chase-before-arrest-fhp-says
| 2023-07-31T21:22:36
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https://www.fox13news.com/news/suspect-flees-traffic-stop-leads-authorities-on-multi-county-chase-before-arrest-fhp-says
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Los Angeles renters soon could face eviction if they don’t pay back the rent they owe from early in the pandemic.
Los Angeles put in place COVID-19 policies that protected many tenants from eviction if they were not able to make rent. But those protections have now expired, and Tuesday marks the deadline for tenants to pay back any rent owed from March 2020 through September 2021.
Government officials and tenant advocates have been raising concerns about the looming deadline as the city faces another economic crisis with historic strikes of SAG-AFTRA and the WGA.
“I am very worried about the deadline,” LA Mayor Karen Bass (D) said in an interview with LAist. “I’m concerned that we’re going to have another spike in homelessness.”
“As the August 1 deadline of certain tenant protections are coming to expire, my office is working with our partners on the City Council and [Los Angeles Housing Department] to prepare resources for Angelenos that may be impacted in the City of Los Angeles,” Bass wrote Saturday on X — formerly known as Twitter — along with a graphic illustrating key dates and resources for residents to know.
LAist reported that eviction filings are on the rise in Los Angeles County and are likely to grow further, according to landlord advocates, who oppose many of the renter protections in place, saying they pose a financial hardship for them.
Bass has been working to tackle the homelessness crisis in Los Angeles and recently renewed the homelessness emergency declaration for the city. Recent numbers, however, show homelessness is still on the rise.
The Los Angeles Homeless Services Authority conducted an annual point-in-time count released Thursday, the Los Angeles Times reported, that showed a 9 percent increase in homelessness in Los Angeles County and a 10 percent increase in homelessness in the city of Los Angeles.
The 2023 count of the county estimated 75,518 people do not have permanent housing, including those living in a tent, car, van, RV, or makeshift shelter. In 2022, the number was 69,144.
The Los Angeles Times reported that, since the 2015 estimation, homeless has increased by 70 percent in the county and by 80 percent in the city.
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https://www.yourcentralvalley.com/the-hill-california-politics/los-angeles-renters-could-face-eviction-as-back-rent-payment-deadline-nears/
| 2023-07-31T21:22:38
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https://www.yourcentralvalley.com/the-hill-california-politics/los-angeles-renters-could-face-eviction-as-back-rent-payment-deadline-nears/
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Walmart launches travel benefits for its Walmart+ members
BENTONVILLE, Ark. - Walmart is taking its valued Walmart+ members on a journey with new travel benefits.
The retail giant announced that Walmart+ members can now book getaways through WalmartPlusTravel.com and receive 5% Walmart Cash to use on hotels, vacation rentals, car rentals and activity bookings. Its members will also get 2% Cash on flights and vacation packages.
The new benefit is powered by Expedia Group, giving Walmart+ members access to more than 900,000 properties, 500+ airlines and 100+ car rental companies.
"We're bringing together the ultimate savings membership and vacation booking site to deliver a first-ever travel-focused benefit for Walmart+ members," Venessa Yates, senior vice president and general manager of Walmart+, said in a press release on July 26. "Combined with our other benefits - including free delivery, streaming and savings on fuel - we’re creating a membership that saves customers time and money, whether they’re at home or having fun at their favorite vacation destination."
Shoppers wait in line to pay for their purchases at a Walmart store in Los Angeles, California (Credit: ROBYN BECK/AFP via Getty Images)
After a booking is confirmed, Walmart said that any Cash received will appear in the member’s Walmart wallet. The rewards will become available 30 days after travel is completed and can be used on future Walmart purchases or cashed out in-store.
"What's exciting is that with this collaboration, Walmart customers will benefit from Expedia's ongoing innovation through TravelOS, our A.I.-powered travel operating system, as we continue to add new product and feature updates to drive the best traveler experience," said Ariane Gorin, president of Expedia for Business.
RELATED: Walmart offering half-price Walmart+ memberships for customers on government assistance
Walmart recently rebranded its Walmart Rewards program to Walmart Cash. The company said over time, some of the components of Walmart Cash will expand to all customers, while some its components, like travel, will remain exclusive to Walmart+ members.
This story was reported from Los Angeles.
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https://www.fox13news.com/news/walmart-travel-benefits-walmart-plus-members
| 2023-07-31T21:22:42
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https://www.fox13news.com/news/walmart-travel-benefits-walmart-plus-members
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LINKBANCORP, Inc. Announces Second Quarter 2023 Financial Results
Published: Jul. 31, 2023 at 4:30 PM EDT|Updated: 52 minutes ago
HARRISBURG, Pa., July 31, 2023 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank") reported net income of $1.35 million, or $0.08 per diluted share, for the quarter ended June 30, 2023. Excluding merger related expenses, adjusted earnings were $1.60 million1, or $0.101 per diluted share for the second quarter of 2023.
Second Quarter 2023 Highlights
Total deposits grew $50.3 million, or 20.5% annualized during the second quarter over the prior quarter end, including an increase in noninterest bearing deposits of $36.2 million, and $14.1 million in interest bearing deposits. Estimated uninsured deposits, excluding collateralized public funds and affiliate company accounts, totaled $378.7 million, or 36.7% of total deposits as of June 30, 2023, compared with $387.8 million, or 39.4% of total deposits as of March 31, 2023.
The Company enhanced its on-balance sheet liquidity, with cash and cash equivalents as of June 30, 2023 of $123.2 million, up from $51.7 million at March 31, 2023 and $30.0 million at December 31, 2022. Total liquidity, including all available borrowing capacity and brokered deposit availability, together with cash and cash equivalents and unpledged investment securities, totaled approximately $507.4 million as of June 30, 2023.
Total loans grew $24.2 million during the second quarter, representing a 10.3% annualized growth rate, driven primarily by commercial and industrial and commercial real estate loan activity.
Net interest income for the second quarter of 2023 was $8.1 million, compared to $8.0 million for the first quarter of 2023. Net interest margin was 2.81% for the second quarter of 2023, compared to 2.95% for the first quarter of 2023. The linked quarter decrease was primarily due to higher interest expense on deposits continuing to outpace the increase in interest income from loans.
The Company recorded a $493 thousand negative provision for credit losses for the second quarter of 2023, resulting in an allowance for credit losses of $10.2 million, or 1.05% of total loans at June 30, 2023. The negative provision for credit losses was primarily driven by refinement of the population of loans individually assessed for impairment under the current expected credit losses ("CECL") accounting standard, improvements in internal credit metrics and external forecast indexes, as well as $97 thousand in net recoveries, offset by loan growth in the period.
On June 22, 2023, shareholders of the Company and Partners Bancorp ("Partners"), each approved the merger of Partners with and into the Company, with the Company as the surviving corporation pursuant to the Agreement and Plan of Merger, dated as of February 22, 2023. The merger is expected to close in the third or fourth quarter of 2023, subject to regulatory approvals and certain other customary closing conditions.
"We are pleased to report results that evidence continued balance sheet strength, including increased on-balance sheet liquidity, a growing core deposit base, and excellent credit quality." said Andrew Samuel, Chief Executive Officer. "Although significant uncertainty remains in the external environment, we are optimistic that the pace of margin compression will continue to stabilize. Our teams are highly focused on providing superior service to meet our clients' needs and we believe the Company is well positioned to successfully navigate through this climate."
Income Statement
Net interest income before the provision for credit losses for the second quarter of 2023 increased to $8.1 million compared to $8.0 million in the first quarter of 2023. Net interest margin was 2.81% for the second quarter of 2023 compared to 2.95% for the first quarter of 2023. The decrease in net interest margin for the current quarter was due to the higher average rate paid on interest-bearing liabilities, which outpaced the increase in the average yield on interest earning assets. The overall rate and yield increases were driven by the multiple federal funds rate increases that occurred over the preceding twelve months, coupled with competition for deposits in the market. The rate of increase in the cost of funds moderated to 30 basis points in the second quarter of 2023, primarily resulting from strong growth in the average balance of non-interest bearing deposits, which increased approximately $17.0 million to $209.1 million, compared to $192.1 million for the first quarter. The 30 basis points increase in the cost of funds to 2.29% during the second quarter of 2023 was partially offset by a 15 basis point increase in the average yield on interest-earning assets to 5.00%. The increase in the average yield on interest-earning assets was primarily due to the increase in the average yield on loans of 11 basis points to 5.20% during the second quarter of 2023.
During the second quarter, the Company continued to recognize results from its increased internal focus and strategy on core deposit generation, including 123 net new checking accounts opened for a total of $38 million in new deposits. Additionally, further momentum in executing the Company's strategies to service the needs of professional services firms resulted in 58 new accounts opened during the quarter, which are expected to fund over the course of the third quarter. As a result of these positive trends, the Company expects to allow higher cost brokered deposits to mature, replaced by core accounts at a lower cost, contributing to further stabilization in net interest margin.
Noninterest income (expense) improved from a $1.9 million expense in the first quarter of 2023, driven by recognition of a loss upon the sale of debt securities of $2.37 million, to $886 thousand in income in the second quarter of 2023. Excluding the first quarter loss on the sale of debt securities, adjusted noninterest income for the second quarter of 2023 increased $369 thousand to $886 thousand, primarily due to gains on the sale of Small Business Administration ("SBA") loans of $296 thousand and $57 thousand in commercial loan-related interest rate swap fees.
Noninterest expense for the second quarter of 2023 increased to $7.8 million compared to $7.7 million for the first quarter of 2023. Excluding one time charges relating to the pending merger with Partners Bancorp of $587 thousand in the first quarter of 2023 and $315 thousand in the second quarter of 2023, adjusted noninterest expense increased by $351 thousand in the second quarter, impacted by increased equipment and data processing expense as the Company continues to enhance its technology platform, as well as elevated accrual of fraud and operating losses.
Balance Sheet
Total assets were $1.31 billion at June 30, 2023 compared to $1.21 billion at March 31, 2023 and $1.06 billion at June 30, 2022. Deposits and net loans as of June 30, 2023 totaled $1.03 billion and $959.3 million, respectively, compared to deposits and net loans of $984.5 million and $934.8 million, respectively, at March 31, 2023 and $902.4 million and $786.5 million, respectively, at June 30, 2022.
Total loans increased $24.2 million from March 31, 2023 to June 30, 2023, or 10.25% annualized, with the average commercial loan commitment originated during the second quarter of 2023 totaling approximately $500,000.
The Company has proactively taken additional steps during the quarter to enhance its on-balance sheet liquidity. Cash and cash equivalents increased to $123.2 million at June 30, 2023 compared to $51.7 million at March 31, 2023 and $30.0 million at December 31, 2022. In addition to growth in core deposits, this position was supported by an additional $43.7 million in borrowings related to $75.0 million in wholesale funding in connection with the execution of a pay-fixed/receive-floating interest rate swap. The interest rate swap has a fixed rate of 3.28%, a maturity of five years and is designated against either a mix of one-month FHLB advances or brokered certificates of deposits. Classified as a cash flow hedge, the market fluctuations will not impact future earnings, but will impact accumulated other comprehensive loss.
Deposits at June 30, 2023 totaled $1.03 billion, an increase of $50.3 million compared to $984.5 million at March 31, 2023. Average deposits increased by $17.0 million during the quarter, or 6.9% annualized, driven by a 35.3% increase in average noninterest bearing deposits from $192.1 million for the first quarter of 2023 to $209.1 million for the second quarter of 2023.
Shareholders' equity increased from $141.6 million at March 31, 2023 to $142.5 million at June 30, 2023. The increase included an increase in retained earnings due to net income for the current quarter, and a decrease in other comprehensive loss resulting from changes in the interest rate environment, offset by dividends paid of $1.2 million.
Asset Quality
In the second quarter of 2023, the Company recorded a negative provision for credit losses, calculated under the CECL model, of $493 thousand, compared to a provision for credit losses of $293 thousand in the first quarter. The negative provision for credit losses included the impact of reductions in the allowance for credit losses due to refinement of the population of loans individually assessed for impairment under CECL, improvements in internal credit metrics and external forecast indexes, as well as $97 thousand in net recoveries, offset by loan growth in the period.
Asset quality metrics remain strong. As of June 30, 2023, the Company's non-performing assets were $2.9 million, representing 0.22% of total assets. Non-performing assets at June 30, 2023 excluded purchased with credit deterioration ("PCD") loans with a balance of $2.1 million. Loans 30-89 days past due at June 30, 2023 were $1.8 million, representing 0.18% of total loans.
The allowance for credit losses-loans was $10.2 million, or 1.05% of total loans at June 30, 2023, compared to the allowance for credit losses-loans of $10.5 million, or 1.11% of total loans, at March 31, 2023. The allowance for credit losses-loans to nonperforming assets was 358.12% at June 30, 2023, compared to 438.95% at March 31, 2023.
The Company's risk management function incorporates extensive diversification, monitoring and hold limits with respect to the commercial real estate loan portfolio and management closely monitors concentration reports and related analyses. The commercial real estate loan portfolio is well-diversified, with limited exposure to higher risk segments such as hotels and retail. Management believes that the office space portfolio, which includes medical and mixed-use space, and does not involve properties in major metropolitan business districts, is stable and does not pose excessive risk. Specifically, at June 30, 2023, the Company had 68 loans related to office space, with an average loan size of $1.8 million and total current outstanding balances of $103.0 million. The largest exposure relating to office space is $8.8 million for a construction loan that will constitute owner-occupied real estate upon completion. Eighty-four percent (84%) of office space loans are guaranteed by high-quality principals and no office loans are past due 30 days or greater.
Capital
The Bank's regulatory capital ratios are well in excess of regulatory minimums to be considered "well capitalized" as of June 30, 2023. The Bank's Total Capital Ratio and Tier 1 Capital Ratio was 13.55% and 12.94% , respectively, at June 30, 2023, compared to 13.53% and 12.32%, respectively, at March 31, 2023 and 12.89% and 12.41%, respectively, at December 31, 2022. The Company's ratio of Tangible Common Equity to Tangible Assets was 8.31%2 at June 30, 2023.
ABOUT LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Central and Southeastern Pennsylvania through 10 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.com.
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; risks related to the proposed merger with Partners; changes in general economic trends, including inflation and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of the COVID-19 pandemic and actions taken by governments, businesses and individuals in response. The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.
LB-E LB-D
Appendix A – Reconciliation to Non-GAAP Financial Measures
This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.
Contact: Nicole Ulmer Corporate and Investor Relations Officer 717.803.8895 IR@LINKBANCORP.COM
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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'I've seen patients as young as 19': doctors say younger people getting diagnosed with colon cancer
TAMPA, Fla. - A 24-year-old received a shocking diagnosis from her doctor.
Bailey Mcbreen is a nurse who takes care of herself. She works out and eats right. But right now she's fighting colon cancer.
"I almost looked at it like he was telling me about a patient who just got diagnosed, and I couldn't comprehend that I was the patient in that moment. I just remember telling my mom, I don't want to die. That was it," recalled Mcbreen.
She said she didn't experience the common symptoms initially.
"I guess my two biggest symptoms was ultimately burping and reflux. That started about two years prior to me getting diagnosed. About one week before I got diagnosed, my symptoms basically snowballed into effect and that's when I started to experience severe pain in my abdomen. I stopped eating. I had all the symptoms of a bowel obstruction," shared Mcbreen.
Mcbreen didn't experience the common symptoms initially.
Her doctor at Moffitt Cancer Center said he's seeing more young people like her.
READ: Moffitt Cancer Center expands telehealth services
"I've seen patients as young as 19. I'm sure that there are probably younger patients," said Dr. Iman Imanirad.
"I didn't realize that the rise of cancer was so high in such a young population, and I'm a nurse," said Mcbreen.
There are theories as to why.
"Environmental factors such as diet, such as exercise, such as alcohol intake and also exposure early in early life to certain things such as antibiotics," Dr. Iman Imanirad
"It has to be our food and the environment and the exposures that my generation had as younger individuals, as our toddlers, as infants," said Mcbreen.
Bayfront Health St. Petersburg uses GI Genius.
Because more younger people are being diagnosed, screening guidelines have been updated to start at age 45 instead of 50. Mcbreen's doctor says by the time some patients seek help, the disease has often progressed.
READ: ‘No guarantee you’ll get enough Vitamin D’: The benefits and drawbacks of sun exposure
"And the reason for that is that these symptoms that young people come in with is often overlooked because it's either young people are reluctant to seek medical care at the time, or alternatively, even if they do, the symptoms are attributed to two other causes rather than being cancerous," said Dr. Imanirad.
Doctors are also turning to artificial intelligence to help pinpoint polyps and suspected tumors during colonoscopies. One device being used by Bayfront Health St. Petersburg is called GI Genius.
"It helps us identify polyps, locate them faster and help us remove them," said Dr. Randhir Jesudoss.
Cologuard is a home screening test.
There are also home screening tests like Cologuard.
"Yes. Cologuard is a good test, and one screening test is better than none. Even if you don't have a positive Cologuard, we need to understand that you may still be harboring these pre-cancerous lesions in the colon, which may still be negative for a Cologuard test," said Dr. Benjamin Tharian.
Mcbreen hopes her story sends a message to other younger people to not ignore symptoms and don't wait to get checked.
"Unfortunately, no one is safe from cancer.You can be the healthiest person in the world working out five days a week, and you are still at risk," shared Mcbreen.
Her family set up a GoFundMe to help her with medical expenses.
For more information about colon cancer, click here.
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| 2023-07-31T21:22:48
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PHILADELPHIA, July 31, 2023 /PRNewswire/ -- Livent Corporation (NYSE: LTHM) today published its 2022 Sustainability Report, with the theme Reimagining Possibilities. The report provides updates on the company's progress against its 2030 and 2040 sustainability goals, includes new disclosures and reaffirms Livent's commitment to responsible production and expansion.
Paul Graves, president and chief executive officer of Livent, commented: "We believe the lithium industry will play an increasingly important role in the clean energy transition towards a more sustainable, low-carbon future. Our 2022 Sustainability Report demonstrates how Livent is reimagining what's possible for producing more of the lithium the world needs while continuing to lead our industry forward in corporate social responsibility, environmental stewardship and transparency."
Report Highlights:
- Initial global Scope 3 screening of Livent's Greenhouse Gas (GHG) emissions and first disclosures on global air pollutants
- Completion of ISO-compliant Life Cycle Assessments (LCAs) for all of Livent's major lithium chemical products, ahead of the original 2025 target
- Achievement of Livent's 2030 Waste Disposed intensity reduction target, ahead of schedule
- Summary of recent water and biodiversity studies conducted at the Salar del Hombre Muerto in Argentina
- Updates on other key collaborations and initiatives to support a low-carbon future, minimize environmental impacts, expand local community engagement and development efforts, protect human rights, and build a more engaged, diverse and inclusive workforce
To view Livent's 2022 Sustainability Report, visit livent.com/sustainability. The report will be made available in multiple languages.
Key ESG metrics in the report were reviewed and assured by ERM Certification and Verification Services (ERM CVS).
About Livent
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The Company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,350 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States, England, China and Argentina. For more information, visit Livent.com.
Livent Forward-Looking Statements
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "will continue to," "will likely result," "is on track," "should," "expect," "expects," "intends," "plans," "anticipates," "believe," "believes," "estimates," "predicts," "potential," "continue," "could," "forecast," "future," "is confident that," or "projects," the negative of these terms and other comparable terminology. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within Livent's 2022 Form 10-K filed with the SEC as well as other SEC filings and public communications. Livent cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Livent undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
The Company's investor relations website, located at https://ir.livent.com, should be considered as a recognized channel of distribution, and the Company may periodically post important information to the website for investors, including information that the Company may wish to disclose publicly for purposes of complying with federal securities laws.
Media contact: Juan Carlos Cruz +1.215.299.6725
juan.carlos.cruz@livent.com
Investor contact: Daniel Rosen +1.215.299.6208
daniel.rosen@livent.com
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Teen US cyclist Magnus White killed while training for world championship race
Magnus White, a rising American cyclist star, died after being hit by a car on Saturday while training for an upcoming race. He was 17 years old.
The accident occurred while White was on a bike ride near his home in Boulder, Colorado, USA Cycling announced in a statement Sunday.
The U.S. national team cyclist was on a final ride to prepare for the Junior Men’s Mountain Bike Cross-Country World Championships in August in Glasgow, Scotland.
"We offer our heartfelt condolences to the White family, his teammates, friends, and the Boulder community during this incredibly difficult time. We ride for Magnus," USA Cycling wrote in an Instagram post.
White was a rising star winning the 2021 Junior 17-18 Cyclocross National Championships USA Cycling National Team for a full season of European Cyclocross racing and closed out the year at the 2022 UCI Cyclocross World Championship in Fayetteville, Arkansas, USA Cycling noted.
He then represented the U.S. and the Boulder community at another Cyclocross World Championships in January in the Netherlands.
White is survived by his parents, Michael and Jill, and his brother, Eero, the Associated Press reported.
The Associated Press contributed to this report. This story was reported from Washington, D.C.
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| 2023-07-31T21:22:54
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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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| 2023-07-31T21:22:55
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Nominate a Central Indiana teacher for the Golden Apple Award
by: Meghan Stratton
Posted: / Updated:
Trending stories
- 1 dead, multiple injured after block party shooting in Muncie, Indiana
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- ‘Obsessed’ Steichen brings renewed energy to Colts training camp
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- Colorado officer who put suspect in car hit by train found guilty of reckless endangerment
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| 2023-07-31T21:22:59
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Tech Veteran Brings Nearly Three Decades of Experience to Help Drive Growth for Leading Fast-Casual Mexican Restaurant
SAN DIEGO, July 31, 2023 /PRNewswire/ -- Modern Restaurant Concepts ("MRC"), a leading fast-casual restaurant platform comprised of the QDOBA and Modern Market Eatery brands, announced that Prashant Budhale has joined the company as Chief Technology Officer. Budhale brings more than 28 years of experience in technology leadership to MRC, and as CTO, will lead all technology across MRC brands.
"We are excited for Prashant to join the MRC team," said John Cywinski, CEO of Modern Restaurant Concepts. "I view technology as a foundational enabler of all that we do in the restaurant business, from a guest, team member, and corporate enterprise perspective. Prashant will lead our strategy to drive technology as a powerful brand differentiator, and he will be a terrific collaborator with our existing leadership team as well as our franchise partners moving forward."
"I'm excited about QDOBA's history of strong same store sales growth, potential for net unit growth, and the ability for technology to make a positive impact to both guest and team member experiences," Budhale said. "I'm also very encouraged by John's vision and Butterfly Equity's commitment to the growth of brands within MRC portfolio."
Prior to joining Modern Restaurant Concepts, Budhale served as Head of Technology for SONIC Drive-In, part of the Inspire Brands portfolio. At SONIC, he was responsible for the vision, development, and implementation of all technology initiatives across the 3,550 unit, $6B brand. Prior to SONIC, Prashant was Senior Director for Pizza Hut, part of YUM! Brands, where he led retail technology. Earlier in his career, Prashant worked as a software development consultant with IBM, Allstate, Oracle, Capgemini, and Fujitsu America.
QDOBA is a fast casual Mexican restaurant with over 750 locations in the U.S. and Canada. Committed to delivering flavor to people's lives, QDOBA uses ingredients prepared in-house, by hand, and fresh throughout the day, to create delicious menu options. Guests can experience QDOBA's delicious flavors by enjoying one of its signature menu options that are chef-crafted for convenience and ease or by customizing their burritos, tacos, burrito bowls, salads, quesadillas, and nachos to fit their personal tastes. For five years running, QDOBA has been voted the "Best Fast Casual Restaurant" as part of the USA TODAY 10Best Readers' Choice Awards. Discover more at www.QDOBA.com or on the QDOBA app.
For more information on the company, please visit www.QDOBA.com or follow the brand on Instagram, Facebook, Twitter and TikTok.
About Modern Restaurant Concepts
Modern Restaurant Concepts is one of the largest fast casual restaurant platforms in North America with nearly 800 units across two brands, QDOBA and Modern Market Eatery. The system operates corporate-owned and franchised units across nearly every U.S. state as well as Canada and Puerto Rico. Modern Restaurant Concepts is owned by Butterfly Equity, a Los Angeles-based private equity firm specializing in the food sector, with more than $10 billion of equity capital in companies ranging from growth-stage to Fortune 500 enterprises.
QDOBA is a fast casual Mexican restaurant with over 750 locations in the U.S. and Canada. Committed to delivering flavor to people's lives, QDOBA uses ingredients prepared in-house, by hand, and fresh throughout the day, to create delicious menu options. Guests can experience QDOBA's delicious flavors by enjoying one of its signature menu options that are chef-crafted for convenience and ease or by customizing their burritos, tacos, burrito bowls, salads, quesadillas, and nachos to fit their personal tastes. For five years running, QDOBA has been voted the "Best Fast Casual Restaurant" as part of the USA TODAY 10Best Readers' Choice Awards. Discover more at www.QDOBA.com or on the QDOBA app.
Modern Market Eatery is a food forward, sustainable fast casual restaurant concept that operates in Colorado, Texas, Arizona, and Indiana. Delivering the freshness and flavors of the market in a modern dining format and environment, Modern Market Eatery's menu of protein-centric bowls, garden fresh salads, toasted sandwiches and brick-oven pizzas redefine what it means to eat well at a reasonable price. For additional information about Modern Market Eatery, please visit www.modernmarket.com.
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Back-to-school workouts with Firefighter Tim
Get ready to kickstart the new school year with a back-to-school workout like never before! Join us as we team up with Tim Griffin, a fitness expert from the Carmel Fire Department, to inspire students, parents, and educators alike to prioritize their health and well-being. Whether you’re hitting the books or stepping onto the field, this invigorating workout session will help you build stamina, strength, and confidence. Tune in to discover fun and effective exercises that will keep you energized throughout the school year. Get your gym clothes ready and prepare to sweat it out with our special guest, Tim Griffin! Let’s make this academic year the healthiest one yet!
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https://www.wishtv.com/lifestylelive/back-to-school-workouts-with-firefighter-tim/
| 2023-07-31T21:23:06
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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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Tallying this year’s “Counting Down the Irish” ballots, an absence stood out more than anything else. Only four Notre Dame offensive linemen received any votes.
When asking nine Irish beat writers — well, eight beat writers and one media member who allows himself this one arena of overreactive fandom — who will be the 25 most impactful Notre Dame players in 2023, not a single one mentioned a fifth offensive lineman.
This article may be about to rattle off the “Others Receiving Votes,” but the most notable name is one not among them. Be it fifth-year Andrew Kristofic and his eight career starts or junior Rocco Spindler and his annual buzz, the lack of either name showing up on a single ballot stands out.
That could be the media members offering some uncertainty of who will start at right guard, but all summer the expectation was Kristofic had a strong hold on the gig. If Spindler had made a charge during summer workouts, then that hype would have sparked a ballot or two to include him.
Instead, crickets.
It would be one thing if the fifth offensive lineman was simply outside the top 25. That happened in each of the last two seasons, Josh Lugg appearing at No. 27 last year and Zeke Correll at the same spot in 2021. Tommy Kraemer came in at No. 26 in 2017.
Those kinds of drops were signs of other strong position groups. But complete silence around the fifth offensive lineman is a sign of doubt in him or them. (In 2018 and 2019, all five starters made the top 25. For furlough-related reasons, there was no “Counting Down the Irish” balloting in 2020.)
If Notre Dame has the strong run game one might expect when two tackles and a running back all end up highly ranked in this exercise, then the right guard may belong in the postseason conversation as an overlooked entry here. Frankly, it is hard to envision a successful season in South Bend where a starting offensive lineman is not among the 25 most impactful players. An offensive line weakness like that will lower the ceiling on Marcus Freeman’s second year in charge.
That absence stands out today.
You had me at hello.#IrishWearGreen | #GoIrish☘️ pic.twitter.com/2qyCus58bH
— Notre Dame Football (@NDFootball) July 31, 2023
Others Receiving Votes:
Fifth-year defensive end Nana Osafo-Mensah — 16 points, five of nine ballots, high of No. 21.
Rhode Island transfer safety Antonio Carter — 16 points, three of nine ballots, high of No. 19.
Sixth-year safety DJ Brown — 14 points, four ballots, high of No. 21.
Junior receiver Deion Colzie — 14 points, three ballots, high of No. 19.
Sophomore defensive end Junior Tuihalamaka — 12 points, one ballot, No. 14.
Sophomore linebacker Jaylen Sneed — 6 points, three ballots, high of No. 22.
Sixth-year receiver Matt Salerno — 6 points, two ballots, high of No. 23.
Senior cornerback Clarence Lewis — 5 points, one ballot, No. 21.
Senior safety Ramon Henderson — 2 points, one ballot, No. 24.
Freshman running back Jeremiyah Love — 2 points, one ballot, No. 24.
Sophomore tight end Eli Raridon — 2 points, one ballot, No. 24.
Due to the Irish being able to start preseason practices earlier than any other team in the country — a perk of not only playing Week Zero but also having to head to Dublin days, plural, before the Aug. 26 kickoff — these ballots were due after Notre Dame head coach Marcus Freeman, defensive coordinator Al Golden and offensive coordinator Gerad Parker had all met with the media once last week. So a few quotes on those others receiving votes …
Golden on Carter: “For those guys that didn’t participate in the spring, there’s a little bit of a learning curve. We’ll settle in here. By the time we scrimmage, it will be like, ‘All right, I have to learn this,‘ and we can evaluate that. I’m pleased with those guys in general, and I’m glad he’s here.”
Golden on Sneed: “He has good get-off. He has length. He has excellent flexibility at the top of the movement. If he is engaged, he can dip and bend. He can counter back inside. He’s in the low 220s now, I think 220 (pounds). He’s making a lot of progress. Maybe he’ll be [225] here at some point, two months from now.
“How dynamic would that be if we had that guy in our defense that can rush the passer on the first third down but on the next third down, we’re in a different look and he’s moving around, or can blitz? That’s our goal for him.”
Freeman on Love: “Jeremiyah Love can fly. I mean, he can fly. It’s impressive to watch him run.”
That green though 🤩#IrishWearGreen | #GoIrish pic.twitter.com/l5Pw5MbK9A
— The Fighting Irish (@FightingIrish) July 31, 2023
The voters, generously giving of their time and insights in this annual exercise …
Michael Bryan, 18 Stripes
Greg Flammang, Irish Sports Daily
Tyler James, Inside ND Sports
Andrew McGuinness, The Observer
Tim Murray, Vegas Stats & Information Network, but more pertinent to this exercise, an irrational Notre Dame fan
Tom Noie, South Bend Tribune
Tim O’Malley, Irish Illustrated
Pete Sampson, The Athletic
Josh Vowles, One Foot Down
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https://www.nbcsports.com/college-football/news/counting-down-the-irish-2023-others-receiving-votes
| 2023-07-31T21:23:09
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Ezra Speaking talks upcoming concerts at Indiana State Fair
Get ready for a thrilling episode of “Ezra Speaking” on YouTube, where we’ll be diving into the exciting world of the Indiana State Fair! As the fair kicked off on July 28th and continues until August 20th, Ezra is looking forward to everything the fair has to offer.
Of course, it wouldn’t be a state fair without some mind-blowing concerts, and this year’s lineup is no exception! Ezra will be taking us through the exciting roster of FREE concerts that await fairgoers this year. Prepare to be amazed by captivating performances from artists like Styx on August 4th, Quiet Riot on August 5th, TobyMac on August 6th, Gin Blossoms on August 11th, Skillet on August 13th, and wrapping up with the legendary CeCe Winans on August 20th, all starting at 7:30 p.m. Let’s get ready to rock and groove together at the Indiana State Fair!
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https://www.wishtv.com/lifestylelive/ezra-speaking-talks-upcoming-concerts-at-indiana-state-fair/
| 2023-07-31T21:23:10
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https://www.wishtv.com/lifestylelive/ezra-speaking-talks-upcoming-concerts-at-indiana-state-fair/
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Nebraska defensive back Myles Farmer, the team’s second-leading tackler last season, was not on the 120-man roster when the Cornhuskers opened practice Monday and his return was uncertain.
First-year coach Matt Rhule said he suspended Farmer indefinitely. Rhule didn’t disclose the reason other than to say it had to do with a failure to adhere to team standards.
The previous coaching staff suspended Farmer for the game against Michigan last November after he was arrested on suspicion of drunken driving.
Rhule also announced that wide receiver Josh Fleeks, a transfer from Baylor, reported “significantly” overweight Sunday and will be held out until he makes weight.
Brodie Tagaloa, who was expected to be in the defensive line rotation, probably is out for the season because of injuries sustained in a car accident two weeks ago. Rhule said Tagaloa had facial cuts and required knee surgery.
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https://www.nbcsports.com/college-football/news/nebraskas-myles-farmer-is-suspended-indefinitely-as-coach-matt-rhule-opens-first-preseason-camp
| 2023-07-31T21:23:10
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https://www.nbcsports.com/college-football/news/nebraskas-myles-farmer-is-suspended-indefinitely-as-coach-matt-rhule-opens-first-preseason-camp
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Girls Positivity Club: Empowering children for a successful school year!
The Girls Positivity Club is all about empowering young minds for a successful and fulfilling school year! In our first segment, Melissa Jones joined us, sharing a fantastic time-saving morning routine tip. The “School Prep Station” is the ultimate solution to those chaotic mornings. By organizing essential supplies the night before, parents can ensure stress-free mornings and set the stage for a successful day at school. With everything in place, kids can confidently embark on their educational journey.
Next up, we have an enlightening segment on Empowering Daily Affirmations. Melissa Jones shed light on how simple yet powerful phrases like “I am capable” and “I can handle anything that comes my way” can make a significant difference in building confidence and fostering a positive mindset. These affirmations act as powerful tools that empower children to face challenges with resilience and determination, creating a more uplifting start to the school day.
Moreover, we discussed the essential aspects of parenting and education. The emotional check-in discussion explores ways parents can create a safe space for their kids to share their feelings and concerns. Effective communication is crucial for building a strong parent-child bond and promoting emotional growth. Encouraging children to express their emotions openly allows for better understanding and support.
We’ll also explore the significance of creating a homework haven, a well-organized study area that can make a world of difference in a child’s academic performance. By designing an inviting workspace, parents can inspire their children to approach homework with enthusiasm and efficiency, leading to improved learning outcomes.
Lastly, we discussed the importance of encouraging extracurricular exploration. Participating in extracurricular activities is essential for personal growth, fostering new skills, and forming meaningful friendships. We encourage parents to explore various clubs, sports teams, or art classes that align with their child’s interests, providing them with opportunities for self-discovery and empowerment. Let’s inspire our girls to embrace their potential and thrive in all aspects of life!
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https://www.wishtv.com/lifestylelive/girls-positivity-club-empowering-children-for-a-successful-school-year/
| 2023-07-31T21:23:10
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https://www.wishtv.com/lifestylelive/girls-positivity-club-empowering-children-for-a-successful-school-year/
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Goody 2 Treats bringing new sweets and treats to 16 Tech
Get ready for a delectable treat as we welcome Lauren Goodrich, the owner of Goody 2 Treats, along with Averi Hittle from 16 Tech, to the show! Goody 2 Treats is a brand new vendor at The Amp, located at the heart of the 16 Tech Innovation District in Indy. This weekend marks their grand opening, and they are bringing a mouthwatering array of cupcakes and desserts that will leave your taste buds dancing with joy! For our out-of-town viewers, you’re in for a delightful surprise as August is peach month, and Goody 2 Treats has its famous Peach Cobbler Cupcakes ready to indulge your senses. Get your notepads ready because we’ve got some amazing show and tell in store, with interactive demonstrations that’ll make your sweet tooth tingle!
First, we discussed the story behind Goody 2 Treats and learned about their specialty in cupcakes and desserts. Lauren Goodrich, a Black woman-owned entrepreneur, shared her journey and passion for creating delectable treats. Secondly, we explored the exciting details about The Amp at 16 Tech. As Indy’s newest culinary hub, it houses a variety of innovative local culinary and retail concepts, including the vibrant Goody 2 Treats.
Goody 2 Treats will be open Tuesday through Saturday from 11 a.m. to 7 p.m. Get ready to treat yourself to a delightful culinary experience at The Amp and indulge in Goody 2 Treats’ heavenly cupcakes and desserts!
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https://www.wishtv.com/lifestylelive/goody-2-treats-bringing-new-sweets-and-treats-to-16-tech/
| 2023-07-31T21:23:11
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https://www.wishtv.com/lifestylelive/goody-2-treats-bringing-new-sweets-and-treats-to-16-tech/
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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.wymt.com/prnewswire/2023/07/31/north-dakota-landscape-awash-vibrant-yellow-sunflowers/
| 2023-07-31T21:23:15
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