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Alabama church of ‘Bloody Sunday’ on endangered places list
By JAY REEVES
Associated Press
Like religious congregants all over, the people of historic Brown Chapel AME Church turned off the lights and locked the doors at the beginning of the COVID-19 pandemic because it wasn’t safe to gather for worship with a deadly virus circulating. For a time, the landmark church that launched a national voting rights movement in Selma, Alabama, was off limits.
What members found when they returned was heartbreaking: Termites had eaten so much wood that parts of the structure weren’t stable anymore, said member Juanda Maxwell, and water leaks damaged walls. Mold was growing in parts of the building, where hundreds met before Alabama state troopers attacked voting rights demonstrators on Bloody Sunday in 1965 at the Edmund Pettus Bridge.
“It’s in horrible shape,” said Maxwell. “It’s a tough time. Because we were closed for a year it exacerbated the problem with water coming in.”
The red brick church, with distinctive twin bell towers and a domed ceiling, tops this year’s list of the nation’s most endangered historic places, according to the Washington, D.C.-based, National Trust for Historic Preservation, a nonprofit organization which works to highlight and preserve sites that are in danger of being lost. Other places on the list include:
— Chicano/a Murals painted on the sides of buildings in Colorado and inspired by the human rights and cultural movements of the 1960s and ’70s.
— The Deborah Chapel, a Jewish mortuary building established in 1886 in Hartford, Connecticut.
— Francisco Sanchez Elementary School, the closed centerpiece of the town in Umatac, Guam.
— Minidoka National Historic Site, where more than 13,000 Japanese Americans were incarcerated during World War II in Jerome, Idaho.
— Camp Naco, a base for Black Buffalo Soldiers dating back to 1919 along the U.S.-Mexican border in Naco, Arizona.
— Picture Cave in Warrenton, Missouri, which holds indigenous artwork dating as far back more than 1,200 years by the Osage Nation.
— Brooks Park Art and Nature Center, the home and art studio in East Hampton, New York, of James Brooks and Charlotte Park, who were important in the abstract expressionism movement in American art.
— Palmer Memorial Institute, a boarding school built in 1902 for Black youths in Greensboro, North Carolina.
— Olivewood Cemetery, an African American burial ground in Houston, Texas, dating to 1875 and containing more than 4,000 graves.
— Jamestown, the site in Jamestown, Virginia, where enslaved people first arrived in America and where the first publicly elected assembly in the United States met.
Brown Chapel, the first African Methodist Episcopal church in Alabama, was the site of preparations for a voting rights march from Selma to Montgomery on March 7, 1965, when police beat marchers led by the late Rep. John Lewis, then a young activist. Weeks later, thousands gathered there before the Selma-to-Montgomery march led by the Rev. Martin Luther King Jr.
Maxwell is part of a group of Brown Chapel members serving on a foundation that’s trying to raise money for repairs estimated to exceed $4 million, she said. The church, located in a public housing community, has only a few dozen members in regular attendance, so it’s relying on grants and outside donations to fund the work.
The National Park Service already has provided a grant of $1.3 million for restoration of the church, which was constructed in 1908 by a formerly enslaved Black builder, A.J. Farley, and declared a National Historic Landmark in 1997.
“Our goal is to try to receive over $3 million in grants to do the foundational work. After that we hope to get in more private donations,” Maxwell said.
With members unable to gather in the building since repair work began in October, Maxwell said, the few who still attend continue meeting online.
“We’re Zooming. The pastor is searching for a place,” she said. | https://localnews8.com/news/2022/05/04/alabama-church-of-bloody-sunday-on-endangered-places-list/ | 2022-05-04T15:19:34Z |
FARNBOROUGH, United Kingdom, July 18, 2022 /PRNewswire/ -- Boeing [NYSE: B.A.] and Alder Fuels today announced a new partnership to expand production of sustainable aviation fuel (SAF) around the world. Using Boeing airplanes, the companies will test and qualify Alder-derived SAF, advance policies to expedite the transition to renewable energy in aviation, and grow the amount of SAF for the global aerospace market.
Alder Fuels' proprietary technology enables the efficient conversion of abundant, sustainable forest residues and regenerative biomass into a low-negative carbon "greencrude" for jet fuel conversion. The Alder product is suitable for conversion into drop-in SAF, meaning it can be produced by existing refineries with their current equipment and infrastructure. Alder expects completion of its first plant in 2024.
"As we work toward the civil aviation industry's commitment to net zero carbon emissions by 2050, we know that 700 – 1,000 times more SAF is needed in order to meet this goal," said Sheila Remes, Boeing's vice president of Environmental Sustainability. "We also know that according to the U.S. Department of Energy, U.S. forestry and agricultural residues alone could provide enough biomass energy to generate enough SAF jet fuel to displace 75 percent of U.S. aviation fuel consumption. Partnerships like those with Alder enable us all to advocate for and scale SAF supply."
Boeing will support testing and qualification of Alder-derived SAF including flight demonstrations to ensure readiness. According to the Air Transport Action Group, an industry coalition focused on sustainability, the single largest opportunity to meet and go beyond the industry's 2050 goal is the rapid and worldwide scaling up of sustainable aviation fuel and new energy sources.
In January 2021, Boeing committed to deliver 100% SAF-capable airplanes by 2030 and is also using SAF in its own operations while working across the globe to scale up the supply of SAF.
"Alder's technology offers a future of gathering energy to power aircraft, instead of drilling for it, by converting widely available sustainable biomass into a sustainable product for refining into SAF," said Alder Fuels CEO Bryan Sherbacow. "We can now scale up supply to meet the aviation industry's demand. This partnership with Boeing will expedite SAF availability around the globe, advance policies that ensure sustainability and foster environmental justice, and cultivate local economies."
Prior to founding Alder Fuels, Sherbacow developed and led the world's first SAF refinery in Paramount, California. The Alder Team has been at the forefront of developing new methods for producing SAF, commercializing its use, developing public policy for the sector, and leading efforts for widespread industry adoption.
Boeing has been a pioneer in making SAF a reality. The company has worked with airlines, engine manufacturers and other industry leaders to qualify and conduct biofuel test flights in 2008 and gain approval for commercial use in 2011. In 2018, the Boeing ecoDemonstrator flight test program made the world's first commercial airplane flight using 100% sustainable fuels with a 777 Freighter, in collaboration with FedEx Express. In addition, Boeing partnered with U.S. government customers on SAF initiatives which include SAF flight tests with the U.S. Navy on an F/A-18 Super Hornet and with an in-depth fuel study with the Air Force as part of their efforts to certify the C-17 Globemaster to use SAF.
About Alder Fuels
Alder Fuels, founded by biofuel and aviation industry entrepreneur Bryan Sherbacow, is a process technology and project development company in the low-carbon energy industry. Alder is commercializing a process to produce greencrude that is carbon negative, scalable and cost-competitive with the petroleum it replaces. To meet the need for rapid and global scalability, the conversion process is compatible with existing petroleum refining and logistics infrastructure. The company's collaboration with United Airlines and Honeywell UOP is expected to propel the use of new forms of biomass to power commercial aircraft, reduce fossil fuel consumption, and commercialize technologies benefiting the flying public.
Alder's research is supported by the U.S. Defense Logistics Agency, the Department of Energy (DOE), and through a partnership with the National Renewable Energy Laboratory (NREL), which is focused on developing technology to process organic waste and sustainable, non-food plant material into carbon-negative transportation fuels. For more information about Alder Fuels, visit http://www.alderfuels.com/.
About Boeing
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers.
Learn more about Boeing's sustainability commitments, partnerships and efforts in its recently released 2022 Sustainability Report and on Boeing's sustainability website.
Boeing Contact
Lisa Maull
Global Enterprise Sustainability
+314-614-4583
lisa.a.maull@boeing.com
Alder Fuels Contact
Ian Plunkett
Chief Communications Officer
iplunkett@alderfuels.com
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SOURCE Boeing | https://www.wibw.com/prnewswire/2022/07/18/boeing-alder-fuels-partner-scale-sustainable-aviation-fuel-globally/ | 2022-07-18T16:17:43Z |
BEIJING, May 23, 2022 /PRNewswire/ -- Gaotu Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU), a technology-driven education company and online large-class tutoring service provider in China, today announced that it will report its first quarter 2022 financial results ended March 31, 2022, before U.S. markets open on Monday, June 6, 2022.
Gaotu's management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, June 6, 2022 (8:00 PM on Monday, June 6, 2022, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:
International: +1-412-317-6061
United States: +1-888-317-6003
Hong Kong: 800-963-976
Mainland China: 400-120-6115
Passcode: 7635501
A telephone replay will be available two hours after the conclusion of the conference call through June 13, 2022. The dial-in details are as follows:
International: +1-412-317-0088
United States: +1-877-344-7529
Passcode: 7141257
Additionally, a live and archived webcast of this conference call will be available at https://ir.gaotu.cn/home.
About Gaotu Techedu Inc.
Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers vocational education, professional education and digital products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.
For further information, please contact:
Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn
Christensen
In China
Ms. Vivian Wang
Phone: +852 2232 3978
E-mail: gotu@christensenir.com
In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com
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SOURCE Gaotu Techedu Inc. | https://www.kxii.com/prnewswire/2022/05/23/gaotu-techedu-report-first-quarter-2022-financial-results-june-6-2022/ | 2022-05-23T06:32:24Z |
- STP0404 is the only clinical safety proven HIV treatment candidate with a novel mechanism that can block HIV re-activation.
- STP0404 is expected to enter Phase 2a clinical trial in the US in 4Q 2022.
SEOUL, South Korea, Aug. 3, 2022 /PRNewswire/ -- ST Pharm Co., Ltd. (237690:KOSDAQ) announced on 3rd August that the Phase 1 clinical trial results of STP0404, the HIV treatment candidate, was presented at the 24th International AIDS Conference took place in Montreal, Canada from 29th July to 2nd August.
The International AIDS Conference is the biggest AIDS conference worldwide, held by the International AIDS Society (IAS) which has over 13,000 members from more than 170 countries. All submitted abstracts went through a blind peer-review process by international reviewers and only 300 abstracts were selected to be presented. Among those, the Phase 1 clinical trial results of STP0404 was selected with high score and was formally invited for poster presentation with a poster title, "The First-in-Human Clinical Trial of STP0404, a Novel Potent HIV-1 Allosteric Integrase Inhibitor".
STP0404 is the world's first AIDS treatment with an ALLINI (Allosteric Integrase Inhibitor) mechanism in human clinical trials. All competing drugs developed with the same mechanism failed in preclinical stage due to toxicity issues.
A total of 65 healthy male adult participants, aged from 18 to 45, were included in this Phase 1 clinical study. A total of 28 adverse events (AE) were reported. Headache and diarrhoea with mild to moderate intensity were most frequently reported as treatment emergent adverse events (TEAE). There were no severe AE, Serious AE reported and no clinically significant trend or abnormalities observed in laboratory tests, physical examination, vital signs and ECG evaluations. Since there were no clinically significant AEs reported at the highest dose levels (800 mg in single ascending dose part [SAD] and 400 mg in multiple ascending dose part [MAD]), the maximum tolerated dose was not confirmed. STP0404 also demonstrated consistent pharmacokinetics at various dose levels showing drug exposure increased less-proportionally with dose, and presented an elimination half-life can support once daily dosing regimen.
ST Pharm stated, "From nonclinical studies, dosing with 0.01~10 μM of STP0404 in HIV reactivated T cells reduced the p24 level from over 270 pg/mL to 30 pg/mL. These results can be considered as potentially functional cure. STP0404 not only has optimal antiviral effects as mono-treatment against wild-type strains, but also presented excellent antiviral activities against clinical isolates and reactivated virus that have developed resistance. As the safety of STP0404 was confirmed in Phase 1 trial, a Phase 2a study is planned to be initiated this year."
ST Pharm is further evaluating the clinical potential of co-administering STP0404 with marketed AIDS treatments, and is also developing long-acting injectables.
Learn more at www.stpharm.co.kr/?lang=en
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SOURCE ST Pharm Co., Ltd. | https://www.wibw.com/prnewswire/2022/08/03/st-pharm-presents-phase-1-clinical-trial-results-hiv-treatment-candidate-aids-2022/ | 2022-08-03T12:56:48Z |
Six seasons, more than a hundred episodes and plenty of anticipatory grief led to an emotional hour of "This Is Us" on Tuesday.
The penultimate episode of the series titled, "The Train," culminated in the death of the Pearson family matriarch, Rebecca Pearson [Mandy Moore] of Alzheimer's.
The creator of the Emmy-winning series, Dan Fogelman, took viewers on a literal train ride in which Pearson encounters the loves of her life, both living and dead, before crossing over into the afterlife.
At one point she's greeted by her former physician, Dr. Nathan Katowski [Gerald McRaney] who delivered her triplets in the first episode of the series, but this time he was her bartender, pouring her a well-deserved Vesper.
"You're as tough as they come, Rebecca Pearson," he said. "And you, my dear, have earned a rest."
The Pearson children, their grandchildren and spouses all said goodbye to the woman who had shaped their lives in the final minutes of the episode -- Sterling K. Brown, Justin Hartley, Chrissy Metz, Susan Kelechi Watson, Jon Huertas, Chris Sullivan, Moore and even Milo Ventimiglia's character, Jack, who died in Season 2, shared touching moments.
Next week's series finale will bring an end to the NBC drama, which debuted in 2016.
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accounts, the history behind an article. | https://www.albanyherald.com/entertainment/we-knew-it-was-coming-this-is-us-airs-most-emotional-episode-yet/article_20ff6716-a899-5a24-a762-b88f5539711e.html | 2022-05-18T14:48:35Z |
Arizona, Idaho among states that saw action on abortion this week
By Veronica Stracqualursi, CNN
Anti-abortion advocates had a lot to celebrate this week, including the passage of what a Republican bill sponsor in Kentucky dubbed one of the “most significant” pieces of anti-abortion legislation “in a generation.”
Arizona’s Republican governor, meanwhile, signed into law a ban on most abortions after 15 weeks, similar to the Mississippi law currently before the US Supreme Court.
And in Idaho, abortion providers are suing to try and stop the state’s six-week ban on most abortions.
Arizona governor signs ban after 15 weeks
Republican Gov. Doug Ducey on Wednesday signed into law legislation that prohibits abortions after 15 weeks of pregnancy, except in cases of medical emergency. The bill offers no exceptions for cases of rape and incest.
With Ducey’s signature, Arizona became the first state this year to enact a ban after 15 weeks, following the similar law Mississippi passed in 2018 that the US Supreme Court seems poised to uphold this year.
Republican lawmakers in Arizona had approved the bill last week, without support from Democrats.
The bill goes into effect 90 days after the Arizona legislative session ends.
Florida and Kentucky have passed similar 15-week abortion bans, which await action from their respective governors.
Kentucky sends sweeping abortion bill to governor’s desk
Kentucky’s GOP-majority legislature on Tuesday gave approval to a sweeping abortion bill that would ban most abortions after 15 weeks of pregnancy, restrict access to medication abortion and make it more difficult for a minor to obtain an abortion in the state.
The bill was sent to Democratic Gov. Andy Beshear on Wednesday, though it’s unclear how he will act. The governor has not committed to supporting any abortion bills in the legislature and told reporters last month that he believes “health care decisions should be between a patient and their doctor.”
Beshear can choose to sign the bill or allow the legislation to become law without signing it. If he were to veto the bill, however, Republicans have the majority to easily override him.
The bill would require that drugs used in a medication abortion be provided only by a qualified physician, which is someone licensed to practice medicine and in good standing in Kentucky. A number of requirements must be met before dispensing drugs, including an in-person examination and informing patients about the risks of using medication abortion drugs. The drugs also cannot be sent via mail.
Abortion providers sue to block Idaho’s six-week abortion ban
Abortion providers are suing to strike down Idaho’s six-week abortion ban, which was the first such bill signed into law this year that mimics a controversial Texas law.
In a lawsuit filed Wednesday, the providers argued that the Idaho law violates several provisions of the state constitution and asked the state Supreme Court to intervene before the law goes into effect on April 22.
Like the Texas law, the Idaho measure outlaws abortions after fetal cardiac activity is detected, which falls around six weeks into pregnancy, when many people do not yet know that they’re pregnant.
Also similar to Texas, Idaho’s law allows certain family members of the fetus to take legal action against the abortion provider or medical professional who violates the law — a provision of the law that Idaho Republican Gov. Brad Little raised concerns about even as he signed the bill last week.
This new court fight comes as efforts to block Texas’ version of the law, which went into effect in September, have been unavailing in federal courts.
Maryland passes measure that would allow more abortion providers
Maryland’s Democratic-controlled legislature passed a bill that would expand access to abortion in the state, sending it to Republican Gov. Larry Hogan’s desk.
House Bill 937, titled the “Abortion Care Access Act,” would allow more health care professionals to perform an abortion procedure, rather than only a licensed physician. Under the bill, a “qualified provider” would include nurse practitioner, a midwife, physician assistant or any individual who’s licensed or certified to perform abortions in the state.
The measure would also set up a state program to train more and to diversify abortion providers and would require the governor to appropriate $3.5 million to the program annually.
The legislation would also require most health insurers and the Maryland Medical Assistance Program to cover abortion care services.
The bill would go into effect on July 1, while the bill’s insurance provisions would have to be met by January 2023.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://localnews8.com/politics/cnn-us-politics/2022/04/02/arizona-idaho-among-states-that-saw-action-on-abortion-this-week/ | 2022-04-02T22:12:16Z |
NEW YORK, Sept. 14, 2022 /PRNewswire/ -- LILYSILK, the world's leading silk brand with a mission to inspire people to live spectacular, sustainable lives, was the clothing of choice for supermodel Emily Ratajkowski when she was spotted looking seriously stylish on the streets of New York on August 23 as she headed to a concert wearing the LILYSILK Minimalist Aesthetic Silk Poppy Skirt.
The American model, actress and author was looking so stylish that her street look was covered by multiple top media outlets including British Vogue, Elle Netherlands with Harper's Bazaar saying that Ms. Ratajkowski "put an edgy spin on the romantic ensemble by pairing the set with a pair of black knee-high Cowgirl boots." Emily Ratajkowski has graced the Paris Fashion Week runway and Milan Fashion Week. Earlier this year, she also attended television talk show ZIWE and explore female empowerment.
A clear-cut case of contemporary meets classic, this ultra-cool midi silk skirt is inspired by 90s minimalist aesthetic. A best-seller from the LILYSILK Spring 2022 Collection, the bias-cut adds comfort and movement, making it an ideal piece to be worn at home for a touch of luxury, or as an elevated essential for the spring social calendar. Paired with LILYSILK's matching Osmanthus shirt of the same edition makes styling easier and more fashion-forward than ever before.
"Emily Ratajkowski brings us a really fresh look," said David Wang, CEO of LILYSILK. "Silk has always represented elegance, femininity, and fashion but now we are spicing up women's wardrobes with our classy silk pieces such as the Silk Poppy Skirt. Our hope is that more people can express their style and personality wearing LILYSILK."
Crafted from only the finest natural fibers, LILYSILK seeks to inspire people to live spectacularly—and the stars agree. In recent months several high-profile celebrities including Viola Davis, Nina Dobrev, and Anne Hathaway, and have been spotted out and about looking absolutely spectacular in LILYSILK.
About LILYSILK
LILYSILK is a world-leading silk brand with a mission to inspire people to live spectacularly as well as more sustainably, driven by its care for its customers as well as the planet. For more information, visit http://www.lilysilk.comand follow @lilysilk on Instagram and @Lilysilk on Facebook.
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SOURCE LILYSILK | https://www.wibw.com/prnewswire/2022/09/14/emily-ratajkowski-turns-heads-new-york-lilysilk-silk-poppy-skirt/ | 2022-09-14T14:57:56Z |
FOUNTAIN VALLEY, Calif., June 1, 2022 /PRNewswire/ -- Hyundai Motor America reported May retail sales of 59,432 units, a 30% decrease compared with May 2021. May was an all-time record month for Santa Cruz retail sales. Hyundai had no fleet sales in May 2022.
"There continues to be extraordinary consumer demand for Hyundai vehicles, with dealers selling every vehicle they get," said Randy Parker, senior vice president, national sales, Hyundai Motor America. "We expect demand to remain strong and inventory levels to improve later in 2022."
May Total Sales Summary
May Product and Corporate Activities
- New EV Plant: Hyundai Motor Group announced it would establish its first dedicated EV Plant and Battery Manufacturing facility in the U.S. with an investment of approximately $5.54 billion. Commercial production to begin 1H 2025 with an annual capacity of 300,000 units.
- Hyundai IONIQ 5 Added to Consumer Guide's® 2022 Best Buy Awards: Six Hyundai vehicles were awarded Consumer Guide Best Buy Awards. More than 150 new vehicles were evaluated across 20 categories.
- Hyundai IONIQ 5 Named CUV of Texas by the Texas Auto Writers Association: Hyundai took home six Texas Auto Roundup Awards for the IONIQ 5 and Elantra N.
- Hyundai Presents the Sixth Annual National Salute to America's Heroes Memorial Day Weekend Event: 2022 marked the sixth year in a row Hyundai was a title sponsor of the event in South Florida.
- Hyundai New Horizons Studio to Design and Build Ultimate Mobility Vehicles in Bozeman, Montana: Hyundai New Horizons has a planned investment of $20 million over the next five years.
- Hyundai Hope: Hyundai Hope and Gary Rome Hyundai donated $25,000 to local food banks at the dealership's 25th anniversary event.
May Model Total Sales
Note: Electrified vehicles are hybrid, plug-in hybrid, battery electric and hydrogen fuel cell models.
Hyundai Motor America
Hyundai Motor America focuses on 'Progress for Humanity' and smart mobility solutions. Hyundai offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles. Our 820 dealers sold more than 738,000 vehicles in the U.S. in 2021, and nearly half were built at Hyundai Motor Manufacturing Alabama. For more information, visit www.HyundaiNews.com.
Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn
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SOURCE Hyundai Motor America | https://www.kxii.com/prnewswire/2022/06/01/hyundai-motor-america-reports-may-2022-sales/ | 2022-06-01T13:45:32Z |
The collaboration focuses on personalized physician care and making healthcare
more affordable for patients on Medicare.
NASHVILLE, Tenn., Sept. 14, 2022 /PRNewswire/ -- Today, Honest Medical Group (Honest) and Oakland Physician Network Services, Inc. (OPNS), a physician-owned and operated corporation with more than 425 primary care and specialty physicians in Southeast Michigan, are pleased to announce a joint venture that will allow OPNS the opportunity to provide highly personalized care to its patients on Medicare. This new relationship empowers physicians to truly transform the current health care delivery model to now focus on whole-person-centric care of patients.
Honest was purpose-built to advance the doctor and patient experience, improve overall care, and to reduce health care costs. In partnering together, Honest and OPNS will provide a model of coordinated care that will work to improve clinical outcomes, slow disease progression, and to improve the quality of life for OPNS' patients on Medicare.
In addition, the physicians at OPNS will have the ability to focus on the unique needs of patients and while delivering custom care supporting physical, behavioral, emotional, and social needs for the better well-being of the patient. This results in a more efficient and effective practice.
"OPNS has always been focused on the care we provide our patients, as well as driven by innovation and how we can do things better. We are excited about our new relationship with Honest, leveraging their insights and support as we work together to take even better care of our Southeast Michigan community," said Rodger Prong, CEO of OPNS.
"I am excited for the opportunities our Honest-OPNS relationship brings to their physicians, practices, and, most importantly, their patients," said Dr. Aric Coffman, CEO of Honest. "Honest was purposefully built to improve our healthcare system, and by forging relationships with those on the ground delivering care, we are able to truly impact those in need of care."
Honest Medical Group is a Nashville-based, privately-owned company that partners with physicians to improve their patients' care experience and to reduce costs for people with Medicare. Honest provides financial backing, real-time insights, care management teams and administrative staff so physicians can put their patients first. Honest was founded by health care innovators Adam Boehler, founder and CEO of healthcare investment firm Rubicon Founders; Abe Sutton; and Matt Kim.
For more information, visit HonestMedicalGroup.com or connect with Honest at @honestmedicalgroup on facebook, @honestmedgroup on twitter, and Honest Medical Group on LinkedIn.
Oakland Physician Network Services, Inc. is an independent, physician owned and operated corporation comprised of over 425 primary care and specialty physicians. From its location in Oakland County, OPNS serves the medical community by centrally maintaining the infrastructure to support best practices in medical management, office management, and database management. It provides financial and quality analysis and reporting services that assist member physicians in delivering higher quality care and managing costs for more than 15 healthcare plans.
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SOURCE Honest Medical Group | https://www.kxii.com/prnewswire/2022/09/14/honest-medical-group-oakland-physician-network-services-inc-partner-improve-care-seniors-southeast-michigan/ | 2022-09-14T19:06:19Z |
MEXICO CITY, June 20, 2022 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A logistics real estate in Mexico, will host a webcast and conference call with senior management to discuss second quarter results, current market conditions and future outlook on Wednesday, July 20, at 9:00 a.m. CT/10:00 a.m. ET.
To access a live broadcast of the call, dial +1 888 330 2384 (toll-free from the United States and Canada), 800 269 4416 (toll-free from Mexico) or +1 240 789 2701 from all other countries and enter conference code 3140861. A live webcast can be accessed at www.fibraprologis.com in the Investor Relations section July 20.
A telephonic replay will be available July 20 – August 9 at +1 800 770 2030 from the U.S. and Canada or at +1 647 362 9199 from all other countries using conference code 3140861. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of March 31, 2022, FIBRA Prologis was comprised of 227 logistics and manufacturing facilities in six industrial markets in Mexico totaling 43.4 million square feet (4.0 million square meters) of gross leasable area.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.
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SOURCE FIBRA Prologis | https://www.mysuncoast.com/prnewswire/2022/06/20/fibra-prologis-host-second-quarter-2022-earnings-conference-call-july-20/ | 2022-06-20T21:53:36Z |
AUSTIN, Texas, April 12, 2022 /PRNewswire/ -- Angela Hood, CEO and Founder of ThisWay Global, announced they are leveraging IBM technology intending to expand the reach and function of its AI-backed and Google-accelerated HR recruitment technology. IBM's AI-powered automation software is expected to help provide ThisWay Global with the ability to easily integrate into businesses' existing environments and quickly match employers to candidates from diverse communities of qualified job applicants.
According to a recent industry survey, mid-market and enterprise companies have a problem finding and hiring quality candidates. IBM App Connect Enterprise empowers ThisWay Global to provide its customers with scalable integrations into HRIS (human resources information systems) and CRM (candidate resource management) platforms, opening doors for HR leaders and recruiters to millions of candidates.
"We're thrilled," said Hood "to make hiring a diverse and inclusive workforce more accessible for our clients with the support of IBM App Connect Enterprise."
How it Works
ThisWay Global's recruitment process automation (RPA) platform – Ai4JOBS – is a powerful diversity sourcing and matching platform (SaaS) that enables organizations to connect with diverse applicants and candidates from 8,500+ online diversity communities. Every applicant is matched against every open position, based only on their skills and experience, enabling employers to quickly find the best applicant instantly and without bias. ThisWay Global's unbiased candidate matching engine identifies top qualified candidates for every job from the entire candidate database. It combines specific machine learning and data security with the powerful ability to match applicants to opportunities based on more than 1000 data points. This solution increases customer compliance, efficiency, and the accurate matching of qualified talent, while simultaneously increasing diversity and inclusion.
ThisWay Global's architecture was uniquely developed to be natively embedded into enterprise technology platforms, providing companies with seamless, secure, compliant recruiting automation that expands to match a customers' current needs and to facilitate their growth within their current workflow.
ThisWay Global is using IBM App Connect Enterprise to support a breadth of integration needs across a modern enterprise. With IBM App Connect Enterprise, businesses can integrate ThisWay Global's Ai4JOBS platform into their existing environments. IBM App Connect Enterprise delivers an automated approach to integration designed to reduce development complexity and speed time to value, empowering businesses to connect applications and data no matter where they reside, be it on-cloud or on-premises with security.
IBM App Connect Enterprise enables ThisWay Global to easily integrate with and provide technology to customers that previously did not have access to ThisWay Global's technology, diverse talent pool, and reach of their entire integration partner network.
"As businesses bounce back and doors reopen for customers globally, companies are navigating a complex labor market and may struggle to find the talent they need quickly enough, especially skilled knowledge workers," said Dinesh Nirmal, General Manager, IBM Automation. "ThisWay Global is leveraging IBM's AI-powered automation technology to help organizations accelerate how they find and hire diverse talent and help address the shortage of skills across industries."
Part of the IBM Ecosystem, ThisWay Global's strengths combined with IBM technology can help address the most complex challenges in business and society for clients with hybrid cloud and AI.
In September of 2021, ThisWay Global was one of 12 North American startups along with their founders selected for the Google Startup Accelerator Program. This group was chosen for their use of AI/ML to address business challenges and a specific technical challenge that Google mentorship could help solve. This acceleration by Google helped ThisWay Global to finalize their embedded approach for their IBM relationship.
About ThisWay Global:
Founded by Angela Hood in University of Cambridge's ideaSpace, ThisWay Global is a WBENC certified, VC-backed, Google accelerated HR tech industry leader that matches all people to all jobs instantly and without bias. Using proprietary artificial intelligence, TWG's network has performed over 15.5 trillion matching events, providing companies and governments with technology to reduce bias and increase diversity across all industries. ThisWay Global is headquartered in the booming tech hub of Austin, Texas, with offices in Silicon Valley and Boston. To learn more or to schedule a demo, visit thiswayglobal.com.
Media contacts:
Michael Coats (707) 235-6203; michael@coatspr.com
Bill Fanning (ThisWay Global's CRO) (512) 649-8288; bill.fanning@thiswayglobal.com
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SOURCE ThisWay Global | https://www.kxii.com/prnewswire/2022/04/12/ai-recruitment-specialist-thisway-global-leverages-ibms-ai-powered-automation-software-deliver-powerful-diversity-hiring-technology/ | 2022-04-12T16:37:40Z |
Flint will be tasked with growing the life and health insurance product portfolios
SAN ANTONIO, June 15, 2022 /PRNewswire/ -- USAA Life Insurance Company (USAA Life) announced today that Chris Flint has joined USAA as Senior Vice President and General Manager, Life and Health Insurance, reporting to Brandon Carter, President of USAA Life Insurance Companies. In this role, Flint will oversee the life and health insurance product portfolios, with responsibility to grow both product lines to serve more of USAA's members and bring additional value to the association.
Flint brings more than two decades of experience in the financial services industry to USAA Life, and has extensive experience leading life insurance distribution, modernizing to enhance customer experience, and creating growth opportunities by introducing digital and data-driven solutions.
"USAA exemplifies the 'best of best' in terms of its unwavering commitment to its mission and members," says Flint. "It's a privilege to be joining a company with such a noble purpose and a focus on protecting the financial security of our service members and their families."
"Chris is an exceptional industry leader, and we're thrilled to have him join USAA Life," says Brandon Carter, president of USAA Life Insurance Companies. "His expertise will serve us well as we provide more of our members with the protection they need, backed by USAA's legendary service."
Prior to joining USAA Life, Flint was President and CEO of Farmers New World Life Insurance Company. He was also previously President and CEO of ProEquities, Inc. and Senior Vice President, Distribution Companies for Protective Life Insurance Company. Flint received his bachelor's degree from the University of Alabama at Birmingham and completed his MBA and a Master of Information Systems degree at Creighton University. He also completed the Executive Leadership Program from the University of Pennsylvania's Wharton School of Business. He currently holds Series 4, 7, 24, 53, 63, 66 securities licenses and is a Chartered Retirement Planning Counselor (CRPC).
About USAA
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking, and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
Contact: USAA Media Relations
External_communications@usaa.com
210-498-0940
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SOURCE USAA | https://www.kxii.com/prnewswire/2022/06/15/usaa-life-insurance-company-names-chris-flint-senior-vice-president-general-manager-life-health-insurance/ | 2022-06-15T16:19:38Z |
Kemp will hand out up to $1.2B in cash to poorer Georgians
ATLANTA (AP) — Gov. Brian Kemp said Monday he will spend up to $1.2 billion in federal COVID-19 aid on payments of $350 apiece to more than 3 million Georgians who benefit from Medicaid, subsidized child health insurance, food stamps or cash welfare assistance.
The payments will start in September, said Katie Byrd, a spokesperson for the governor’s office.
The move comes atop Kemp’s proposals last week to spend $2 billion in state surplus, split between property tax rebates and a second round of income tax rebates, if voters choose him for a second term in November over Democratic challenger Stacey Abrams. Those separate plans would require legislative approval next year.
Monday’s announcement will put money in the hands of less affluent Georgians in the months before the nationally watched election in a narrowly contested swing state. Those are voters to whom Abrams has been tailoring her economic platform. She also backs another round of income tax rebates, like those Kemp already pushed though, but has been arguing that Georgia also needs to do more to invest in long-term expansions of health, education and small business assistance to try to create a less unequal economy.
Kemp, though, appears to be betting that handing out cash now will outweigh the promise of future improvements. Under Georgia state law, he alone controls how billions in federal COVID-19 relief is spent, meaning he can hand out money even as he bashes Democratic President Joe Biden and Abrams for inflation and high spending.
The governor again said that his reason for handing out cash was to help people pressured by higher prices, even though economists agree that such spending worsens inflation by dumping more cash into the economy to bid up the prices of goods and services.
“This assistance will help some of Georgia’s most vulnerable citizens cope with the continued negative economic impact of the COVID-19 public health emergency and 40-year-high inflation caused by disastrous policies that were implemented by the Biden administration,” Kemp’s office said in a statement.
Kemp has cited the same reason for repeated suspensions of the state’s gas and diesel taxes since March, a move that has cost the state more than $800 million in foregone tax revenue. Abrams has called on Kemp to guarantee a suspension of fuel taxes through the end of the year.
Abrams has repeatedly accused Kemp of hypocrisy for taking credit for federally financed benefits while bad-mouthing Biden. Abrams spokesperson Alex Floyd in a Monday statement called the move another of Kemp’s “election-year vote buying schemes.”
While Kemp is boosting the income of poorer Georgians now, he terminated a monthly boost of at least $95 in food stamp benefits at the end of May when he ended Georgia’s COVID-19 state of emergency. His administration has also lagged in distributing hundreds of millions of dollars in federal money meant to prevent evictions.
“The reality is Brian Kemp refuses to expand Medicaid, has cut food assistance amid rising prices and failed to fully deploy federal rental assistance, leaving too many Georgians evicted,” said Abrams spokesperson Alex Floyd said in a statement. “Now, in the middle of a reelection campaign, he’s taking money to stage more political gimmicks. Kemp’s PR stunt is too little, too late.”
The state Department of Human Services said on its website that beneficiaries will get the payment automatically, but urged people to update their contact information on a state website that manages health and welfare benefits. The state said that people who get food stamps and cash welfare benefits will not get the money on the same debit card they get those benefits, but didn’t immediately respond to questions about how the money will get sent out.
Only people enrolled as of July 31 will get the money. Anyone who enrolled later or who left programs earlier is not eligible. If someone benefits from multiple programs, they will only get one $350 payment, but separate payments will be given to everyone in a household that benefits, meaning a single parent with two children would get $1,050, for example.
Georgia had 2.3 million people benefiting from Medicaid or the Child Health Insurance Program in April, according to the most recent federal figures, while it had 1.59 million people benefitting from food stamps in May.
___
Follow Jeff Amy on Twitter at http://twitter.com/jeffamy.
Copyright 2022 The Associated Press. All rights reserved. | https://www.mysuncoast.com/2022/08/15/kemp-will-hand-out-up-12b-cash-poorer-georgians/ | 2022-08-15T22:01:43Z |
NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), a creator-first holding company today announced the appointment of Tracy Willis as CEO of Creatd Partners, the Company's influencer and content marketing arm.
Since the Company completed its integration of the WHE Agency ("WHE") into Creatd Partners, WHE founder Tracy Willis has led WHE's day-to-day operations and worked to significantly advance the size and breadth of WHE's influencer network and brand partnerships. Already, the integration of the WHE Agency and Creatd Partners has yielded top brand clientele working together on projects across an array of products and distribution platforms, including Vocal, Tik Tok, Youtube, and Instagram. As CEO of Creatd Partners, Ms. Willis is additionally tasked with driving talent acquisition for the Company on a broader level, with the ultimate goal of sourcing and nurturing high-caliber creators and brands to join the Vocal ecosystem. Ms. Willis has an integral role in driving the Company's internal efforts to identify opportunities and acquisitions in the agency space.
Commented Tracy Willis, the newly appointed CEO of Creatd Partners, "The digital agency space is rapidly evolving beyond a service-based relationship offering to include a suite of products that prioritizes data and technology. Clients are demanding best-in-class processes and analytics, and Creatd Partners has established itself as an industry leader by integrating Creatd's technology and data into their agency services. I am thrilled to have the opportunity to lead this fantastic team and rapidly scale Creatd's agency business."
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology holding company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership. We accomplish this through Creatd's four business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios.
Creatd: https://creatd.com;
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
Investor Relations Contact: ir@creatd.com
Forward-Looking Statements
Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.
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SOURCE Creatd, Inc. | https://www.wibw.com/prnewswire/2022/08/17/creatd-names-tracy-willis-ceo-its-agency-arm-creatd-partners/ | 2022-08-17T16:44:50Z |
Leadenhall Capital Partners led the latest round of capital with multiple partners
DENVER , May 25, 2022 /PRNewswire/ -- Friday Health Plans Management Services Company, Inc., ("Friday") a Denver-based health insurance holding company, announced today that it has signed an agreement for $70 million of equity investment led by Leadenhall Capital Partners ("Leadenhall"). Vestar Capital Partners, Peloton Capital Partners and other partners also contributed to this latest investment. Leadenhall will also provide $50 million in debt financing.
Following 400% membership growth year over year for the last two years, Friday will leverage the funds primarily to support expansion into new Affordable Care Act marketplaces.
"More people are finding value in our simple, practical health plans designed for people who don't get insurance through their employer," said CEO of Friday Health Plans, Sal Gentile. "We are built specifically to give them great health benefits and superior service – all at an affordable price. And we're able to do this because we focus solely on serving this growing consumer segment."
Friday currently serves more than 330,000 members across seven states with an estimated $1.95 billion in gross premium revenue for 2022. Most of Friday's health plans include unlimited $0 primary care visits, $0 mental health counseling, free generic drugs and free telehealth visits. Consumers can purchase the plans on the national or state-based health exchanges, through brokers, or directly on Friday's website.
"Having worked with the management team at Friday for a number of years, we have observed their expertise in bringing affordable health protection to a growing number of people. We are excited about supporting the future growth prospects of the company through this capital round," said Tom Spreutels, Managing Partner at Leadenhall.
Friday Health Plans was started in 2015 by Sal Gentile and David Pinkert, two health technology industry veterans. After the passage of the Affordable Care Act, the pair wanted to start a simpler, friendlier health insurance company, better designed for consumers not receiving health insurance from their employer.
With headquarters in Denver, Colorado, Friday has grown exponentially in the Affordable Care Act space through acquisition and organic growth. The company has expanded its employee base to more than 600 people across the country, with operations centers in Alamosa and Pueblo, Colorado.
About Friday Health Plans: Friday Health Plans is purpose-built specifically for people and who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Operational efficiency, top-notch customer service, and smart technology are core to Friday's consumer-centric approach. All insurance plans and services are offered and administered through licensed subsidiaries of Friday Health Plans, Inc. For more information and to find a health plan, visit www.fridayhealthplans.com.
About Leadenhall Capital Partners:
Leadenhall Capital Partners is a UK-based institutional investment manager focused on making investments in insurance related opportunities, with ca. USD 6bn of assets under management. Established in November 2008, Leadenhall Capital Partners has made over 150 investments in life and health insurance related risks and has supported companies at various stages of their growth cycle. Leadenhall has the expertise to identify promising investment opportunities whilst also backing companies which may provide access to attractive life and health risks for its investment portfolios. Investments are made across the capital structure. For additional information on Leadenhall please visit www.leadenhallcp.com
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SOURCE Friday Health Plans | https://www.mysuncoast.com/prnewswire/2022/05/25/friday-health-plans-raises-120-million-new-funding-support-enrollment-growth/ | 2022-05-25T11:34:16Z |
WASHINGTON, Aug. 10, 2022 /PRNewswire/ -- NASA will provide live coverage on Wednesday, Aug. 17, of a spacewalk with two Russian cosmonauts to continue outfitting the European robotic arm on the International Space Station's Nauka laboratory.
Coverage will begin at 9 a.m. EDT on NASA Television, the NASA app, and agency's website. The spacewalk is scheduled to begin around 9:20 a.m.
Expedition 67 Commander Oleg Artemyev and Flight Engineer Denis Matveev, both of Roscosmos, will begin the six-and-a-half-hour excursion by exiting the station's space-facing Poisk module. The primary objective of the spacewalk is to install cameras on the European robotic arm, relocate an external control panel for the arm from one operating area to another, remove launch restraints near the two end effectors or "hands" of the arm, and test a rigidizing mechanism on the arm that will be used to facilitate the grasping of payloads.
The European robotic arm will be used to move payloads and equipment outside the Russian segment of the station, joining the Canadian-built Canadarm2 robotic arm and the Japanese arm already supporting station maintenance, operations, and research.
Artemyev will wear a Russian Orlan spacesuit with red stripes, while Matveev will wear a Russian Orlan suit with blue stripes. This will be the seventh spacewalk for Artemyev and the third for Matveev.
Get NASA TV streaming video, schedule, and downlink information at:
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SOURCE NASA | https://www.mysuncoast.com/prnewswire/2022/08/10/nasa-sets-coverage-russian-spacewalk/ | 2022-08-10T23:04:18Z |
HARTFORD, Conn., May 25, 2022 /PRNewswire/ -- Virtus Total Return Fund Inc. (NYSE: ZTR) today announced the following monthly distributions:
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. 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 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 Fund provided this estimate of the sources of the distributions:
Information regarding the Fund's performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund's NAV and not the market price of the Fund's shares. Performance figures are not meant to represent individual shareholder performance.
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
Virtus Total Return Fund Inc. is a diversified closed-end fund whose investment objective is capital appreciation, with income as a secondary objective. Virtus Investment Advisers, Inc. has been the investment adviser, and Duff & Phelps Investment Management Co. and Newfleet Asset Management, LLC have been subadvisers, to the Fund since December 9, 2011. Performance and characteristics prior to December 9, 2011 were attained by the previous adviser using a different investment strategy.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the closed end fund section of www.virtus.com.
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the bottom of this press release.
Duff & Phelps Investment Management Co. has more than 35 years of experience managing investment portfolios, including institutional separate accounts and open- and closed-end funds investing in utilities, master limited partnerships (MLPs), infrastructure and real estate investment trusts (REITs). For more information, visit www.dpimc.com.
Newfleet Asset Management, an affiliated manager of Virtus Investment Partners, provides comprehensive fixed income portfolio management in multiple strategies. The Newfleet Multi-Sector Strategies team that manages the Virtus Total Return Fund Inc. leverages the knowledge and skill of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction, avoiding interest rate bets and remaining duration neutral to each strategy's stated benchmark. For more information, visit www.newfleet.com.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. For more information, visit www.virtus.com.
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SOURCE Virtus Total Return Fund Inc. | https://www.mysuncoast.com/prnewswire/2022/05/25/virtus-total-return-fund-inc-declares-distributions/ | 2022-05-25T20:43:10Z |
GREENVILLE, S.C., April 13, 2022 /PRNewswire/ -- Premier Medical Laboratory Services (PMLS), an advanced medical diagnostic laboratory offering over 2,000 clinical tests, is announcing today their receipt of the College of American Pathologists (CAP) Accreditation. As one of the most stringent of laboratory certifications, CAP Accreditation verifies that the laboratory meets all required standards from CLIA, the FDA, and OSHA. With this certification, PMLS is regarded as one of the world's top-ranked labs for medical diagnostics which exceeds the industry's clinical laboratory standards.
"Quality medical diagnostics are integral for successful patient outcomes," stated Kevin Murdock, CEO of PMLS. "With that in mind, we are meticulous in our pursuit to deliver accuracy and consistency. That's why we underwent the CAP Accreditation process - to ensure that we're an industry leader for the doctors and patients that rely on our testing capabilities. We're proud of our team that performs at such an extraordinary level and to have achieved this highly regarded certification."
In order to receive CAP Accreditation, a laboratory is required to first attain Clinical Laboratory Improvement Amendments (CLIA) certification. CLIA is regulated by the Centers for Medicare & Medicaid Services (CMS), The Food and Drug Administration (FDA), and the Centers for Disease Control and Prevention (CDC) to set the standards for which a clinical diagnostics lab must operate in the US. Once this certification is attained, a laboratory like PMLS can apply for CAP Accreditation and undergo a rigorous inspection of their laboratory operations to further confirm that precision, accuracy, safety, and best practices are in place. This sets CAP Accredited laboratories apart from most that are in operation today.
Along with this achievement, PMLS has reached one of the highest testing capacities in the US, processing up to 100,000 tests per day. They are a trusted testing partner of state health departments, Health and Human Services surge sites, large corporations, professional sports teams, universities, and health systems throughout the country. With an in-house research and development team of PhD scientists, they are continually expanding their diagnostic services. Now, as a CAP Accredited laboratory, doctors and patients can be further assured that PMLS provides the industry's highest standards for accurate, cutting edge, and reliable diagnostics to improve patient lives.
For more information on Premier Medical Laboratory Services, please visit www.premedinc.com.
Premier Medical Laboratory Services® is fully certified by all major accrediting organizations including Clinical Laboratory Improvement Amendments (CLIA) and College of American Pathologists (CAP) Accreditation. Utilizing the latest equipment, including liquid chromatography mass spectrometry (LCMS), molecular, Next Generation Sequencing (NGS) and other technology, we provide high analytical standards and accurate interpretations along with unsurpassed turnaround times for clinics and physicians. As an industry leader in molecular diagnostics, our in-house team of PhD scientists, laboratory staff, and customer care team deliver accuracy and reliability that is unmatched. We are innovators and thought leaders, moving the medical industry forward with the latest in science and technology. As a top of the line, highly complex diagnostics lab, we are committed to help our clients meet the highest standards in patient care and specialize in the following areas:
- General and Routine Chemistry's
- Advanced Cardiovascular Testing
- Allergen – Specific IgE Blood Testing
- Women's Health
- Pharmacogenomics
- Patient Rx Monitoring
- Molecular
- Wellness Panel
- Covid-19 Testing
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SOURCE Premier Medical Laboratory Services | https://www.kxii.com/prnewswire/2022/04/13/premier-medical-laboratory-services-receives-college-american-pathologists-cap-accreditation/ | 2022-04-13T18:37:12Z |
RALEIGH, N.C., June 2, 2022 /PRNewswire/ -- Cherry Bekaert LLP ("the Firm") is pleased to welcome Ward Melhuish as Federal Government Sector Advisory Leader and Managing Director in the Advisory Services practice. He will join the Firm's Government & Public Sector Advisory Services leadership team to strengthen and advance our solutions to Federal Government agencies across a full suite of areas including Digital Advisory, Accounting Advisory, Cybersecurity & Information Assurance, Risk Advisory, Grants Management, and Regulatory Compliance. Ward will work closely with Christian Fuellgraf, Government & Public Sector Leader and Denise Lippuner, State & Local Government Advisory Leader.
"I am delighted to welcome a forward-looking leader like Ward, who will drive innovative, digitally transformative advisory and accounting solutions to Federal Government clients," said Christian Fuellgraf, Government & Public Sector Leader and Principal, Advisory Services. "The expansion of our advisory capabilities to the Federal Government through Ward's leadership and our new GSA Schedule Contract will help to improve the efficiency and effectiveness of the business of government."
Ward brings over 25 years of government consulting experience, specializing in cost and performance management services, including strategy development, operational deployment, process improvement, organizational change, human capital management, value-based assessment, performance measurement, cost assessment and analytics. Ward has worked with agencies within the Departments of: Defense, Energy, Homeland Security, Justice, Treasury and Transportation, as well as independent agencies and corporations such as the United States Postal Service and Pension Benefit Guarantee Corporation.
Srikant Sastry, Managing Principal, Advisory Services concludes: "At Cherry Bekaert, we are committed to bringing in new talent and capabilities, allowing us to deliver digitally driven and industry-aligned solutions resulting in better business outcomes for our Government & Public sector clients. Our new Government & Public sector advisory leaders, Christian, Ward and Denise will guide all levels of Government forward to harness their full potential."
Ranked among the largest assurance, tax and advisory firms in the U.S., Cherry Bekaert serves clients across all 50 U.S. states and internationally. Services and solutions span the areas of transaction advisory, risk and accounting advisory, digital solutions, cybersecurity, tax, benefits consulting, and wealth management. Industries served include government and public sector, government contractors, healthcare and life sciences, hospitality and retail, industrial manufacturing, not-for-profit, private equity, professional services, real estate and construction and technology. We exercise a deliberate curiosity to know our clients' industries and work collaboratively to create shared success.
Cherry Bekaert is a member of Allinial Global, an accountancy and business advisory global association. Visit us at cbh.com and follow us on LinkedIn, Facebook or Twitter.
© 2022 Cherry Bekaert LLP. All Rights Reserved.
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SOURCE Cherry Bekaert LLP | https://www.wibw.com/prnewswire/2022/06/02/cherry-bekaert-expands-federal-government-capabilities-with-new-leader-appointment/ | 2022-06-02T14:51:42Z |
Coworking Provider Continues to Address the Growing Demand for Convenient Workspaces
LOUISVILLE, Colo., May 18, 2022 /PRNewswire/ -- While companies throughout the Washington, D.C. area look for new ways to maintain productivity, innovation, and connection in remote work settings, Office Evolution provides them with the perfect solution. The coworking provider is continuing to address demand and help both small businesses and entrepreneurs in Virginia by offering them affordable coworking spaces close to home.
According to fairfaxcountyeda.org, more than 90 percent of local businesses in Northern Virginia are small ones, showcasing how important having flexible workspaces closer to home is for the area. The brand currently has four local Virginia locations in key business hubs, including Herndon, Tysons Corner, Fairfax, and Arlington-Rosslyn.
"In northern Virginia, we make it convenient for local, small businesses to easily find office space," said Mark Hemmeter, Founder and CEO of Office Evolution. "With locations throughout the area, businesses can easily tap into our flexible workspace options and secure the space they need to be successful."
Members benefit from being part of a nation-wide network of coworking locations where they have access to 73 other business locations in 25 states when travelling. Office Evolution is part of United Franchise Group's Coworks division which provides the largest privately owned affiliated coworking network of flexible office space franchises in the world.
"Each one of our franchise owners and Office Evolution members are a part of our Ohana – Hawaiian for family," said Hemmeter. "That means we work together to collaborate and help support each other. Washington, D.C., and surrounding suburbs benefit from our collaborative community of entrepreneurs who have found a space where they can connect and thrive."
Office Evolution's network of locally operated locations provides remote workers and business owners with access to affordable workspace close to home with flexible terms. These spaces are where innovation happens and business performance is enhanced. Businesses of all sizes are shifting their focus towards flexible workspaces to get out of the home while avoiding the expenses and restrictions inherent in traditional office space. This transition from traditional workspaces to more flexible options in suburban markets has positioned Office Evolution perfectly for growth.
"Office Evolution is the ideal solution for companies and entrepreneurs alike," said Jason Anderson, President of Coworks. "People are looking for the amenities of a downtown office but want to work close to home. Now that travel for business is back, having access to a large network of flexible office space is a strategic advantage, especially in influential areas like Virginia and Washington DC."
About Office Evolution
Office Evolution® (OE), a shared workspace – coworking environment, cultivated on the principles of 'Ohana', the Hawaiian tradition referencing family working towards a common goal. OE was founded in 2003 in Boulder, Colorado by Mark Hemmeter a lifelong entrepreneur and real estate enthusiast from Hawaii. In 2022, Office Evolution joined Coworks™ the largest privately held affiliated coworking franchise network on the planet, associated with United Franchise Group™ (UFG), a successful community of affiliated brands and consultants. Office Evolution is serious about supporting small business owners – the Dreamers, Risk-Takers and Doers who dare to chase their passions. For more information about Office Evolution, visit www.officeevolution.com and for information about franchise opportunities visit www.officeevolution.com/development.
About Coworks
Coworks™ specializes in franchising within the coworking industry, offering solutions, expertise, and shared service options within the flexible workspace franchise community. Part of the United Franchise Group™ (UFG) family of affiliated brands and consultants, Coworks was founded in 2021 by Ray Titus, founder and CEO of United Franchise Group, with the express intention of building a framework to connect a variety of coworking brands, services, and amenities within the coworking industry, providing the largest privately owned affiliated franchise network of flexible, professional, and shared office space options on the planet. For more information about Coworks, visit www.coworksllc.com.
About United Franchise Group
Led by CEO Ray Titus, United Franchise Group™ (UFG) is home to an affiliated family of brands and consultants including Accurate Franchising Inc.™, FranchiseMart®, Franchise Real Estate™, Fully Promoted®, Preveer™ (formerly Resource Operations International), Signarama®, Transworld Business Advisors®, and the Coworks™ division consisting of Network Lead Exchange™(NLX), Office Evolution® (OE) and Venture X® as well as a food division featuring Graze Craze®, Jon Smith Subs®, and The Great Greek Mediterranean Grill®. UFG affiliated brands include over 1600 franchises in more than 60 countries, with consultants that have helped develop over 350 brands into franchises, in over 80 countries with more than 2500 franchisees. With over three decades in the franchising industry United Franchise Group offers unprecedented leadership and solid business opportunities for entrepreneurs.
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SOURCE Office Evolution | https://www.wibw.com/prnewswire/2022/05/18/office-evolutions-flexible-workspaces-helps-connect-northern-virginia-washington-dc-area-businesses/ | 2022-05-18T15:43:08Z |
- Enters into Amended Purchase Agreement with Frontline Power Solutions and completes the initial closing for the acquisition of Frontline Power Solutions
- Federal Government Allocates $350 Billion Towards Energy Efficiency Improvements in Commercial Buildings
PHOENIX, Aug. 15, 2022 /PRNewswire/ -- SinglePoint Inc. (OTCQB: SING) ("SinglePoint'' or "the Company''), an acquisition-focused solar energy and sustainable solutions provider, announced today the completion of initial closing for the acquisition of Frontline Power Solutions, a Multi-State Licensed Energy Services Company (ESCO). The agreement provides for a two-phase closing of which we have now completed phase one with the initial payments completed and will proceed to phase two.
Frontline Power Solutions (FPS) is a comprehensive energy service Company with the ability to operate in deregulated markets across the country. Frontline Power is licensed in nine states and has applied for and is awaiting final approval in 12 additional states. Frontline provides Energy Supply Agreements to all sizes of commercial, industrial, and institutional properties. In addition to supplying direct agreements, FPS also lends its expertise to its clients to help reduce energy consumption, streamline energy portfolios, and offer other options to lower energy costs.
The strategic acquisition provides SinglePoint with access to an extensive portfolio of clients while giving those FPS clients reciprocal access to one of the nation's leading solar power solutions companies and best-in-class customer service.
Wil Ralston, CEO of SinglePoint, said, "With the completion of our first investment and acquisition of minority interest in FPS, we believe FPS will round out our service offerings by providing tremendous opportunities in the deregulated energy markets. Through Energy Service Agreements or assistance with installing a client's solar system, SinglePoint can now assist thousands of commercial clients in their solar transition."
John Holmes, Founder and CEO of FPS, said, "Our focus has been supplying commercial energy contracts to large and small commercial, industrial, institutional, and property management firms. We facilitate substantial reductions in energy consumption and spending while streamlining logistical management of their energy portfolios. By joining with SinglePoint, our two companies benefit from economies of scale and monetizing opportunities more efficiently and quickly."
There are currently 26 U.S. states that offer deregulated power options which are expected to reach $9 Billion in annual industry revenues.
About Frontline Power Solutions (FPS)
Frontline Power Solutions (FPS) is a comprehensive energy solutions Company. They are equipped with industry experts who have been on the "frontline" of energy procurement, sales, marketing, analysis, and information technology in the power industry since the dawn of deregulation. The combined intellectual and leveraged resources translate to unmatched value to their customers. FPS provides full-service power supply solutions, including supply, billing, auditing, renewable energy supply, efficiency consulting, and incentive coordination for large or small enterprises.
About SinglePoint Inc (OTCQB:SING)
SinglePoint Inc. (www.singlepoint.com) is a renewable energy, and sustainable lifestyle Company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on social media for the latest updates.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, besides statements of fact included in this release, including, without limitation, statements regarding revenue projections, financing opportunities, potential plans and objectives of the Company, anticipated growth, and future expansion, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical and other complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Investor Contact:
Tra-Digital IR
Investors@SinglePoint.com
(212) 389 - 9782 ext. 107
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SOURCE SinglePoint Inc. | https://www.kxii.com/prnewswire/2022/08/15/singlepoint-clarifies-earlier-release-concerning-frontline-power-solutions-multi-state-licensed-energy-services-company/ | 2022-08-15T21:24:15Z |
Pediatrician charged in murder-for-hire plot in Kentucky
LOUISVILLE, Ky. (WAVE/Gray News) - A doctor in Kentucky has been arrested on federal charges for trying to hire someone to kill her ex-husband.
Stephanie Russell, 52, a pediatrician in Louisville, was taken into custody by FBI agents Thursday.
Court records state Russell made contact with a person Sunday that she believed she was hiring to kill her ex-husband. The person Russell had contacted was actually an undercover FBI employee, said the U.S. Attorney’s Office, Western District of Kentucky, in a news release.
Russell agreed to pay a total of $7,000 for the killing. She put $3,500 - half of the agreed upon amount - in a drop box outside her medical office Wednesday. She was to pay the remaining $3,500 after it took place.
Russell made an initial court appearance before a U.S. magistrate judge Friday, and she is scheduled to have preliminary and detention hearing Tuesday.
If convicted, Russell could serve up to 10 years in federal prison.
Copyright 2022 WAVE via Gray Media Group, Inc. All rights reserved. | https://www.kxii.com/2022/05/20/pediatrician-charged-murder-for-hire-plot-kentucky/ | 2022-05-20T20:35:32Z |
PHOENIX (AP) — Kari Lake, the frontrunner in the Republican primary for Arizona governor, condemned the growing cultural clout of drag queens, jumping into the latest social grievance taking hold on the right.
But her comments were quickly criticized over the weekend by one of the most popular drag performers in Phoenix, who says Lake is a hypocrite who frequented his performances.
Richard Stevens, who performs as Barbra Seville, said Lake, a former television news anchor, regularly attended drag shows and even hired him to dress as Marilyn Monroe at a private party and brought her young daughter. He posted photos on his social media accounts of Lake posing with drag queens and screenshots of his conversations with her.
The dispute between the gubernatorial frontrunner and the prominent drag queen drew national attention and put Lake on the defensive two weeks before early voting begins ahead of Arizona’s Aug. 2 primary. It also fuels a persistent criticism of Lake’s conversion from Barack Obama donor to Donald Trump conservative.
“They kicked God out of schools and welcomed the Drag Queens,” Lake tweeted on Friday night. “They took down our Flag and replaced it with a rainbow. They seek to disarm Americans and militarize our Enemies. Let’s bring back the basics: God, Guns & Glory.”
Stevens responded on social media the next morning: “I’ve performed for her. I’ve performed for her family. I’ve met her kids. I’ve been in her home, and I have her private phone number and her private Facebook account.”
He told The Associated Press on Monday that he stayed in touch with Lake and privately defended her even as she ran a far-right campaign that he disagreed with. But when she came after drag queens, he said, “this hypocrisy really bothered me.”
“I was just personally offended by that tweet,” Stevens said.
Stevens said he first met Lake in the late 1990s, when he performed regularly at a gay bar near the KSAZ studios, where Lake was an evening anchor. He said Lake and her coworkers would sometimes stop by the bar’s weekly drag show after the broadcast, and he recognized her from watching the news. They eventually struck up a friendship, he said. She would ask him for sources to discuss issues affecting the LGBTQ community, and he occasionally appeared on Fox 10 broadcasts.
Lake once hired him to perform as Marilyn Monroe at a coworker’s baby shower about a decade ago, and there he met her daughter, whom he remembers being around 9 or 10 years old.
As Stevens’ post quickly gained traction on social media Saturday, Lake’s campaign initially responded by drawing a distinction between a drag performer and a man impersonating a female celebrity.
The campaign published a statement Sunday condemning the media for covering the controversy and threatening to sue Stevens for defamation.
“Like most sane people, Kari Lake is very much opposed to grown men or women dancing provocatively for children, especially at the expense of the taxpayer,” the statement said. “Why would anyone be opposed to this?”
The statement called Stevens a “talented comedian and performer that Kari Lake covered during her TV career” and pointed to his support for Secretary of State Katie Hobbs, the frontrunner for the Democratic nomination.
A spokesman for Lake, Russ Trumble, declined to comment further Monday, saying “it’s a legal matter now.”
Lake jumped quickly into the frontrunner’s position after launching a campaign that energized the GOP base and earned Trump’s endorsement. She has aggressively promoted false claims that the 2020 election was marred by fraud. But she faces a challenge from businesswoman Karrin Taylor Robson, who’s family fortune has allowed her to vastly outspend Lake on television ads, and from former U.S. Rep. Matt Salmon.
Drag shows feature men dressing in flamboyant women’s clothing while dancing and singing or lip-syncing. Once a relatively obscure subculture, they’ve have exploded into the mainstream with the popularity of the television hit “RuPaul’s Drag Race.” Some performances, particularly light-night events at bars, can be risque. Others are promoted as family friendly affairs, such as drag queen story hour.
Lake’s drag queen tweet latched onto an issue that caught fire this month with conservatives around the country who say drag shows are sexualizing children.
Lawmakers in several states have introduced legislation attempting to ban children from drag shows, and GOP leaders of the Arizona Senate say they have plans for a similar bill.
“The fact is, drag has existed forever,” Stevens said. “I’ve been doing drag longer than Kari has been a Republican. But if you want to outlaw drag in front of kids, you better free up your calendar because it’s ingrained in our culture. The first drag queen I saw was Bugs Bunny.” | https://cw33.com/news/politics/ap-politics/drag-queen-blasts-gop-candidate-for-arizona-governor/ | 2022-06-21T02:55:43Z |
New capabilities allow for UK customers to change channels and search guides simply using their voice, making access to programming and customer service requirements easier than ever
BURLINGTON, Mass., Sept. 8, 2022 /PRNewswire/ -- Nuance Communications, Inc. announced today that Liberty Global has expanded its use of Nuance Dragon TV for Virgin Media O2 customers in the United Kingdom. The expansion includes new capabilities that provide enhanced support for visually impaired customers, such as reading aloud program information.
Nuance Dragon TV, powered by Nuance conversational AI, has proven popular worldwide with subscribers and providers alike, currently handling more than 1.5 billion interactions every month, with the average user making 100 voice requests. Over 70% of subscribers that use Dragon TV capabilities within the first month still navigate and search with their voice nine months later.
"Seamless, personalized TV experiences with voice‑enabled AI technologies are the future of entertainment, and we believe every customer should be able to experience and benefit from these capabilities," said Pieter Vervoort, Vice President Entertainment Products, Liberty Global. "By partnering with Nuance, we've made it easier for all of our customers to enjoy voice‑enabled entertainment experiences, better customer service and easier navigation between channels and apps, building upon the voice enabled services our already customers enjoy."
"Today's TV subscribers have so many options and content to sort through, with more being developed daily. A voice-enabled experience can make sorting and finding content easy, opening up new opportunities for viewers and providers alike," said Tony Lorentzen, SVP of Intelligent Engagement Solutions, Nuance. "Liberty Global continues to push the boundaries of what's possible with voice, always keeping in mind the needs of their diverse customer base. We're thrilled to further expand our partnership with them to increase accessibility and create better experiences for their subscribers."
For more information on Nuance's Dragon TV, click here.
Nuance Communications is a technology pioneer with market leadership in conversational AI and ambient intelligence. A full-service partner trusted by 77 percent of U.S. hospitals and more than 75 percent of the Fortune 100 companies worldwide, Nuance creates intuitive solutions that amplify people's ability to help others. Nuance is a Microsoft company.
Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.
Nuance Communications
Dayna McCoubrey
Tel: 781-565-4728
Dayna.McCoubrey@nuance.com
Vanessa Richter
Tel: + 32 475769507
Vanessa.Richter@nuance.com
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SOURCE Nuance Communications, Inc. | https://www.wibw.com/prnewswire/2022/09/08/liberty-global-nuance-expand-voice-enabled-tv-services-provide-accessibility-visually-impaired-customers/ | 2022-09-08T14:08:31Z |
LONDON and NEW YORK, July 13, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years.
The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities. The joint venture can also offer construction lending in the above mentioned continental European locations.
The deal reflects further institutional confidence in Starz, following backing from a Middle East Sovereign Wealth Fund at the end of last year to originate €900m of loans with the latest transaction in that fund comprising a €68.5m senior facility to Union Street Investments for a multi-office investment platform in the Netherlands.
David Arzi, CEO of Starz, said: "This partnership with Ready Capital will significantly expand our capability to service the increasing demand for agile, mid-market capital across the UK and Europe, bolstering our existing lending strategy."
"We are working in a challenging yet exciting landscape in the wake of the pandemic, with new opportunities as assets change hands or need repurposing to suit new demands. We are pleased to have an institutional investor of this calibre backing us, with our streamlined underwriting processes ensuring we can take capital to market in an efficient and decisive manner."
"This new JV partnership with Starz follows through on our commitment to expand Ready Capital's commercial real estate lending business internationally," said Thomas Capasse, CEO of Ready Capital. "With a history of sourcing high quality loans from strong sponsors, the team at Starz has an investment philosophy that aligns well with the credit foundation of Ready Capital's lending strategies, plus they share our hands-on approach to loan servicing and asset management." Ready Capital is externally managed by Waterfall Asset Management, LLC.
About Starz
Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service. https://starzrealestate.com/
About Ready Capital
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including multifamily agency, stabilized and bridge financing, as well as government guaranteed business loans. Ready Capital and its affiliates also provide alternative lending, construction lending, and low-income housing finance as well as residential mortgages. Headquartered in New York, Ready Capital employs more than 600 lending professionals nationwide. The company is externally managed by Waterfall Asset Management, LLC. www.readycapital.com
Contact
Investor Relations, Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com
Ready Capital Media Relations
PR@readycapital.com
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SOURCE Ready Capital Corporation | https://www.wibw.com/prnewswire/2022/07/13/starz-real-estate-forms-new-300m-jv-with-ready-capital/ | 2022-07-13T21:49:32Z |
LOS ANGELES, June 14, 2022 /PRNewswire/ -- WHAT: PREVIEW Press Conference - "Pull-Up" for Mental Health Concert
WHO: LA County Commissioner, Dion Rambo in conjunction with the LA Rams, LA Lakers, LA Community College District, Behavioral Health Services, TeleHealth Van and beloved community activist "Sweet" Alice Harris.
WHERE: YouTube Theater…Entry Point Address (975 E. Arbor Vitae St. Inglewood, 90301)
WHEN: THIS Wednesday, June 15, 2022 @10AM OVERVIEW: TOGETHER WITH TELEHEALTH VAN FOUNDERS AND CO-OWNER PLATINUM RAPPER YG, MENTAL HEALTH ADVOCATE AND PLATINUM ARTIST JHENE AIKO, LA COUNTY DIGNITARIES, TOP CELEBRITIES, AND MENTAL HEALTH AGENCIES, ALL COME TOGETHER FOR A FREE INVITATIONONLY CONCERT SPRINKLED WITH MENTAL HEALTH INFORMATION AND RESOURCES. THE CONCERT ALSO SENDS THE MESSAGE THAT WE ARE ALL FIRST RESPONDERS WHEN IT COMES TO OUR COMMUNITIES' MENTAL HEALTH.
Concert will be recorded and then aired ONLINE at a later date. Media, please note this is a PREVIEW Press Conference, in which participants will discuss the upcoming July 16th concert. Participants will give overview of concert and discuss the urgency of the event and its message. Wednesday's press conference is an effort to alert our youth that this event is "pulling-up" in their neighborhood. Our community is in anguish! A mental health epidemic is hitting our youth. UCLA Health recently reported that the suicide rate is highest among teens and young adults. The New York Times and other media outlets reported on a recent disturbing trend; most mass shooting assailants are under 21. Something needs to be done and soon! On Saturday, July 16th, 2022 6,000 post pandemic graduates from local colleges and the foster care system will come together to be CELEBRATED, ENCOURGAGED and SUPPORTED by the Los Angeles Mental Health and music community. Recognizing that inner-city communities are significantly underserved by institutional health care delivery systems, Dion Rambo founded the innovative TeleHealth Van concept. The TeleHealth Van delivers virtual mental health and shelter services directly to clients and patients most at risk. We are celebrating our 2 year anniversary and we have had over 15,000 sessions.
Feel free to check out the website www.TeleHealthVan.com For more information please contact: (310) 570.2506 or dion@rambohouse.com
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SOURCE PRIMEDIA NETWORK, INC. | https://www.wibw.com/prnewswire/2022/06/15/mental-health-state-emergency-preview-press-conference-forpull-up-mental-health-concert-hosted-by-yg-jhene-aiko-with-special-surprise-guests/ | 2022-06-15T02:54:11Z |
Wood County joins growing list of Wisconsin counties to utilize DATAMARK VEP, the only cloud-native solution built for public safety GIS
SANTA ANA, Calif., May 17, 2022 /PRNewswire/ -- DATAMARK, the public safety geographic information systems (GIS) team of Michael Baker International, announced today that Wood County, Wisconsin, has selected the firm to provide DATAMARK VEP to support GIS data management. DATAMARK VEP is the only cloud-native solution built for public safety GIS.
"We're honored to advance our relationship with Wood County to achieve Next Generation 9-1-1 (NG9-1-1) GIS," said Greg Brooks, Regional Business Development Manager at DATAMARK. "In support of the state's NG9-1-1 plan, Wood County is working to enhance its GIS data quality and our VEP solution provides a scalable program that meets the county's needs and supports any Next Generation Core Services (NGCS) vendor requirements."
DATAMARK VEP provides Wood County with a simpler and more cost-effective way to update and manage critical GIS data on an ongoing basis and the enables the county to have unlimited and on-demand standards-based validations to support a transition to NG9-1-1. This data may also be leveraged by other mission critical public safety systems such as call-handling-systems, computer-aided dispatch and automatic vehicle location system.
Through this contract, Wood County is expanding its relationship with DATAMARK after completing an Address Comparison and Evaluation (ACE) service in 2021. The ACE service focused on identifying missing address points and subaddress information to the county's master address database.
"We take pride in building excellent relations with county personnel and have earned the trust and confidence of our clients. Wisconsin is an example of how education, advocacy and innovation lead to longstanding relationships," said Robert Murphy, ENP RPL, DATAMARK's Associate Vice President of Business Development. "In addition to our Software-as-a-Service (SaaS), DATAMARK has been providing thought-leadership, training and active participation in state associations like the Wisconsin National Emergency Number Association (NENA) and the Association of Public-Safety Communications Officials (APCO), as well as serving as a platinum sponsor with the Wisconsin Land Information Association."
DATAMARK VEP provides a highly configurable, user-friendly interface to perform location data validations, make edits and implement quality control in alignment with NENA NG9-1-1 data standards and GIS industry best practices. DATAMARK VEP supports data from local and regional GIS data providers and neighboring 9-1-1 authorities, ensuring seamless and accurate data across borders.
About DATAMARK
As trusted advisors in public safety, DATAMARK brings comprehensive, real-world expertise in police, fire, EMS and 9-1-1 leadership roles to Next Generation 9-1-1 transitions. The DATAMARK team leads the industry by shaping rules and legislation, and by building a suite of products and services that ensure accurate emergency response location data in life-critical situations. DATAMARK empowers its team and stakeholder partners to foster trusted relationships and cultivate data integrity for informed decision making. DATAMARK, the public safety GIS team of Michael Baker International, has decades of proven experience in mission-critical government addressing projects. The team works with clients to solve their complex needs, from data quality checks and addressing to workflow analysis and more. Learn more about the company at www.datamarkgis.com and follow DATAMARK on Twitter, LinkedIn and Facebook.
About Michael Baker International
Michael Baker International is a leading provider of engineering and consulting services. The firm's Practices encompass all facets of infrastructure, including design, civil engineering, planning, architecture, environmental, construction and program management. For more than 80 years, the company has been a trusted partner, providing comprehensive services and solutions to commercial clients and all branches of the military, as well as federal, state and municipal governments. Embracing emerging technologies and the latest innovations – like intelligent transportation and design-build project delivery – Michael Baker is an industry leader that delivers expertise and quality. The firm's more than 3,000 employees across nearly 100 locations are committed to Making a Difference for clients and communities through a culture of innovation, collaboration and technological advancement while Reimagining Michael Baker to become a full-service engineering and consulting firm over the next five years. To learn more, visit https://mbakerintl.com/.
Contact: Julia Covelli
julia.covelli@mbakerintl.com
(866) 293-4609
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SOURCE DATAMARK | https://www.mysuncoast.com/prnewswire/2022/05/17/wood-county-wisconsin-selects-datamark-provide-ng9-1-1-gis-data-validation-software/ | 2022-05-17T19:12:43Z |
‘Remain in Mexico’ policy in the spotlight at the Supreme Court
The Supreme Court will hear arguments in Biden v. Texas starting Tuesday.
WASHINGTON (Gray DC) - Immigration is front and center at the Supreme Court this week. A case surrounding a Trump-era policy will be heard by the nine justices in Biden v. Texas. It boils down to a Biden administration decision to scrap a Trump-era rule that sent asylum-seeking immigrants back to Mexico to wait for their trials in the U.S.
On his first day in office, President Biden announced the reversal of the 2019 Trump rule, called the Migrant Protection Protocol or Remain in Mexico program. Immigration advocates argued the policy put asylum seekers in dangerous situations in Mexico.
But the states of Texas and Missouri sued, arguing reversing the policy is illegal. Lower courts agreed, keeping the measure in place as the Biden Justice Department appeals.
“You have the option to send them back to Mexico, you have the option to detain them, but you do not have the option to just release everybody,” said Julie Axelrod from the Center for Immigration Studies.
Axelrod submitted an amicus brief to the court supporting the states. She argues the security of the border is at stake. Axelrod thinks the Biden administration reversing the policy removes a deterrent that could prevent a rush of immigrants from seeking asylum in the U.S.
“What it’s done here is made basically a deliberate choice to sacrifice control over the border,” said Axelrod.
Karen Tumlin from the Justice Action Center argues it is well within the rights of the administration to abandon the policy.
“We know that tens of thousands of people were stranded, were harmed, were abused, were kidnapped while awaiting that day in court,” said Tumlin.
Tumlin said this case is a blockbuster with a lot at stake. She said the court will have to answer, ‘does a new president have the power to change a policy of a past president and the ability to execute mandates from voters?’
“The answer has to be ‘yes,’ right? The answer has to be, ‘of course.’ That’s how our democracy works. But that’s not what happened in the lower court rulings,” said Tumlin.
Oral arguments are expected to begin at 10 a.m. ET Tuesday. An opinion from the court is not expected to come until late spring or early summer.
Copyright 2022 Gray DC. All rights reserved. | https://www.kxii.com/2022/04/25/remain-mexico-policy-spotlight-supreme-court/ | 2022-04-27T12:06:54Z |
LOS ANGELES, April 5, 2022 /PRNewswire/ -- Grid6 Studios is launching the world's 1st NFT collection combining cinematic storytelling and web3 ownership. Grid6 is co-founded by a group consisting of an international filmmaker, a renowned film studio and a leading blockchain investor.
Departed Apes, the first project backed by Grid6, is a collection of 8027 characters living on the Ethereum blockchain. They roam in the parallel universe of the internationally acclaimed crime thriller INFERNAL AFFAIRS. These newly designed characters are crafted by artist Logan Lubera, whose drawings are seen in superheroes series.
NFT holders will go deep undercover to explore one's true identity - cop or criminal. Or neither… Grid6 Studios is created to operate in the intersection of web3 and filmmaking. They are joined by Stephen Fung (Into the Badlands AMC, Wu Assassins Netflix), Media Asia Group – publicly listed content production group and web3 focused venture investor Everest Venture Group, who participated in Dapper Labs, Animoca Brands, The Sandbox and Yuga Labs etc.
Stephen Fung, the creator of Departed Apes and co-founder of the Grid6 Studios
"I am extremely excited to embark on this journey to explore the power of cinema with Web3 ownership. We want to bring the importance of storytelling and character development to the world of NFTs."
Stephen's perspective on ascending into Web 3.0 is also one that is to be shared by cinema lovers, NFT enthusiasts and gamers.
Learn More: www.departedapes.io
For media enquiries:
Rebecca Leung
Email: media@grid6studios.com
About Grid6 Studios
Grid6 Studios is founded by Stephen Fung, Media Asia Group and Everest Venture Group, bringing significant experience across films and television in combination with blockchain technologies. Grid6 is where crypto meets Hollywood.
Learn more: https://grid6studios.com/
About Stephen Fung
Stephen Fung is an international filmmaker. In 2004, Stephen wrote/directed/starred in his directorial debut "Enter the Phoenix" for Jackie Chan's newly formed company JCE Movies; it became an instant hit. Since then, his films have won numerous awards and have been officially selected by The Venice Film Festival, Toronto Film Festival, Busan Film Festival among others. In 2016 Stephen directed "The Adventurers" with an international cast starring Jean Reno, Andy Lau, Shu Qi. The film opened No. 4 internationally with a 30 million USD weekend box office. Stephen is the Executive Producer, Director and Fight Director for AMC's hit Martial Arts Drama "Into The Badlands." In 2020, Stephen directed and executive produced Netflix's hit action series Wu Assassins. Stephen is currently in development with Constantin Films to produce and direct a new adaptation of "The Count of Monte Cristo" starring Jack Huston.
About Media Asia Group Holdings Limited
Media Asia Group Holdings Limited ("Media Asia") together with its subsidiaries (the "Group") is one of the Asia leading entertainment groups with well-established business in Mainland China. The principal activities of Media Asia include production and distribution of films and TV programs; organization, management and production of concerts and live performances; artiste management; music production and publishing; licensing of media contents; and provision of consultancy services in planning and management of cultural, entertainment and live performance projects. Apart from its Hong Kong headquarters, the Group also maintains offices in Beijing, Shanghai, Taipei and Seoul.
Learn more:https://www.mediaasia.com/
About Everest Ventures Group
Everest Ventures Group ("EVG") is a Web 3 focused venture studio with presence across five continents. Since 2018, it has incubated multiple technology infrastructures such as Kikitrade, Aspen Digital, Vibra Africa, LiveArtX, Cassava and BlockTempo to drive the mass adoption of digital assets. In addition, EVG is an early investor and advisor to 30+ blockchain projects globally, including renowned startups like Dapper Labs, Animoca Brands, Immutable, The Sandbox, Yuga Labs, Krake, Lukka, Upbit and more.
Learn more: https://www.evg.co/
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SOURCE Grid 6 Studios | https://www.wibw.com/prnewswire/2022/04/05/grid6-studios-introduces-departed-apes-nft/ | 2022-04-05T15:35:20Z |
CHARLOTTE, N.C., July 20, 2022 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.22 per share, up $0.01 from the prior quarter. The dividend is payable on September 30, 2022 to shareholders of record as of September 2, 2022.
The Board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on October 25, 2022 to shareholders of record as of October 11, 2022.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for email news alerts.
Investors May Contact:
Lee McEntire, Bank of America
Phone: 1.980.388.6780
lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com
Reporters May Contact:
Christopher P. Feeney, Bank of America
Phone: 1.980.386.6794
christopher.feeney@bofa.com
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SOURCE Bank of America Corporation | https://www.kxii.com/prnewswire/2022/07/20/bank-america-increases-common-stock-dividend/ | 2022-07-20T21:37:21Z |
- Key new hire helps DENSO advance its Two Great Causes: Green and Peace of Mind
- Sujit Kulkarni will use his experience to accelerate manufacturing innovation and digital transformation, while supporting DENSO's efforts in sustainability and safety
SOUTHFIELD, Mich., June 7, 2022 /PRNewswire/ -- DENSO, a leading mobility supplier, has named Sujit Kulkarni vice president of its North America Production Innovation Center (NAPIC). Kulkarni will ensure that DENSO's efforts in digital transformation, advanced manufacturing, sustainability and smart productivity advance DENSO's Two Great Causes: Green – achieving carbon neutrality by 2035 – and Peace of Mind – creating a safe and seamless world for all.
In the role, Kulkarni, 51, will oversee North American teams in the following areas: Internet of Things (IoT), Machinery and Tools (M&T), Additive Design Manufacturing, Materials Engineering and Production Engineering. He will be based at DENSO's North American headquarters in Southfield.
"Sujit brings more than 25 years of experience in industry 4.0, smart manufacturing and IoT," said Dave Grimmer, a senior vice president at DENSO and head of NAPIC. "His broad experience in leading innovation, combined with DENSO's expertise in advanced manufacturing, will propel us forward for the future."
Kulkarni joins DENSO from Wipro, where he served as global head of Industry 4.0 and digital manufacturing. Prior to Wipro, Kulkarni held several leadership positions at ABB and General Electric. In these roles, he supported digital transformation initiatives for both internal manufacturing operations and external customers.
Throughout his career, Kulkarni has developed and strengthened digital solutions that enable businesses to transform and work smarter.
"At DENSO, we're going to build factories of the future," said Kulkarni. "I'm inspired by DENSO's legacy of innovation and our incredible employees' commitment to continuous improvement. Together, we're going to make DENSO's philosophy of contributing to a better world come alive through manufacturing innovation."
In addition to his work experience, Kulkarni is a certified 6 Sigma Black Belt and holds an executive MBA from Michigan State University.
About DENSO
DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit https://www.denso.com/global/en/.
In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers, and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In the fiscal year ending March 31, 2022, DENSO in North America generated $9.5 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation, and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: densocareers.com. For more information, go to https://www.denso.com/us-ca/en/
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SOURCE DENSO | https://www.kxii.com/prnewswire/2022/06/07/denso-names-sujit-kulkarni-vice-president-north-america-production-innovation-center/ | 2022-06-07T16:18:48Z |
Southside Chicago Family with Deep Roots to Iconic Brand will Bring Rainbow Cone Classic Flavors to Sarasota, Florida through Specialty Franchise Program
SARASOTA, Fla., Sept. 14, 2022 /PRNewswire/ -- The Original Rainbow Cone, a Chicago tradition for over 95 years, has today announced its first out-of-state location. The new location will bring the Windy City favorite to Sarasota, Florida, through Rainbow Cone's uniquely designed franchise program, with entrepreneurs Dave and Erica Campbell. The Campbell family are third-generation Rainbow Cone customers with strong personal connections to the historic brand, dating to its original Western Avenue building. The Sarasota shop is projected for late Spring 2023.
"As a child, my family would bike to Rainbow Cone's beautiful pink building on Western Avenue and watch in awe as the staff quickly stacked the five flavors of ice cream on the cone," said Erica Campbell. "Our family is honored to be awarded the first Rainbow Cone out-of-state franchise location. It's time to bring Rainbow Cone to the Sunshine State!"
"When our oldest daughter was young, we would go to The Original Rainbow Cone location in Beverly whenever we visited Erica's parents. I look back fondly on those memories," said Dave Campbell. "When the opportunity to partner with Rainbow Cone came up, it was the perfect fit."
In addition to their deep connection to Rainbow Cone, the Campbell's have over twenty years in hospitality, sales, marketing and financial experience together. They believe Rainbow Cone will be a hit in the Sarasota community for its one-of-a-kind, stacked five flavors of ice cream, modern store design, and place for family experiences, as well as their commitment to being leaders in the region. They have a strong faith in the Sapp and Buonavolanto family, and share the same passion for Rainbow Cone's delicious flavors and values.
"We've partnered with a great Chicago family to open the first Rainbow Cone in Sarasota," said Joe Buonavolanto III, VP of Franchise and Sales at The Buona Companies. "We stand behind Erica and Dave as they start their new business and bring classic Chicago flavors to the region, and support them as they serve as leaders in the Sarasota community."
Founded in 1926 by "Grandpa Joe" Sapp, who was never satisfied with just one ice cream flavor, Rainbow Cone features five delicious flavors on a single cone. The brand has since expanded to kiosks and trucks throughout the Chicago area, and launched its new franchise program in 2022. The program includes a range of opportunities, with a proven, proprietary business approach developed and fine-tuned by Rainbow Cone that spans industry-leading technology, support, training, and quality assurance, as well as allocation of marketing resources, field teams and more to help franchisees thrive and succeed.
Rainbow Cone plans to host a Rainbow Cone truck tour in Florida, Grand Opening festivities, and giveaways to alert the region of the Campbell's Sarasota Rainbow Cone location. The company's franchise program will open additional locations across Florida, including Tampa, Fort Myers, Keys and Naples. For more information about the Rainbow Cone franchise program, visit Rainbowconefranchise.com
The Original Rainbow Cone serves ice cream featuring extraordinary flavors and textures, including the world-famous 5-flavor "Rainbow Cone," sundaes, milkshakes, and memories dedicated to last forever. After opening in 1926, the "Rainbow Cone'' received its fame and quickly became the most unique ice cream cone anyone has ever seen. As Rainbow Cone works to expand their locations and showcase our new adventures, like ice cream trucks, they are excited to share their love for Rainbow Cone's signature sliced cone with even more communities. The Original Rainbow Cone is also available for nationwide shipping via Goldbelly. With four locations in the Chicago area and growing, locals count on The Original Rainbow Cone as a Chicago staple and a sweet treat. For more information, visit rainbowcone.com or follow us on Instagram, Facebook, and Twitter.
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SOURCE The Original Rainbow Cone | https://www.wibw.com/prnewswire/2022/09/14/original-rainbow-cone-announces-first-out-of-state-location/ | 2022-09-14T15:01:19Z |
CDC appeals ruling that eliminated mask mandate for travel
Published: Jun. 1, 2022 at 8:26 AM CDT|Updated: 49 minutes ago
(CNN) - The Centers for Disease Control and Prevention is doubling down on its authority to issue a mask mandate for U.S. travelers.
In April, a district court struck down the mandate, a move that blocked the federal government from implementing it nationwide.
Tuesday, the CDC asked an appeals court to reverse that decision.
The agency argued that masks are an effective way to prevent the spread of communicable disease.
It also defended its authority to issue the mandate, pointing to vaccine mandates that have been upheld by the Supreme Court.
As of now, the U.S. does not have a federal mask mandate, and no emergency order has been filed to enforce one.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.wibw.com/2022/06/01/cdc-appeals-ruling-that-eliminated-mask-mandate-travel/ | 2022-06-01T14:16:17Z |
Faron Pharmaceuticals Ltd
("Faron or Company")
Faron Announces Presentation of Biomarker Analysis at 2022 ASCO Annual Meeting Showing Promising
Clinical Benefit of Bexmarilimab in Patients with Low PD-L1 and High Clever-1 Levels
- Biomarker analyses indicate that the tumors of patients benefitting from treatment with bexmarilimab had:
- Adds to growing research to identify optimum patient group for macrophage-targeting immunotherapy following earlier finding that patients with low serum IFNy and TNFa levels (immunologically cold tumors) were more likely to experience clinical benefit
- Combination studies underway in both solid tumors and hematologic malignancies to further explore the clinical benefit of Clever-1 inhibition and potential of bexmarilimab to prime the immune system in patients unresponsive to existing therapies
Press Release, May 30, 2022 at 02:00 AM (EEST) / 07:00 AM (BST) / 09:00 AM (EDT)
TURKU, Finland and BOSTON, May 30, 2022 /PRNewswire/ -- Faron Pharmaceuticals Ltd (AIM: FARN, First North: FARON), a clinical stage biopharmaceutical company focused on building the future of immunotherapy by harnessing the power of the immune system to tackle cancer and inflammation, today announces that new biomarker data from patients treated with bexmarilimab as part of the ongoing phase I/II MATINS (Macrophage Antibody to Inhibit Immune Suppression) trial, will be presented at the upcoming American Society of Clinical Oncology (ASCO) 2022 Annual Meeting being held in Chicago, US from June 3 – 7. These data (Abstract #2645) will be featured in the "Developmental Therapeutics—Immunotherapy" session on Sunday, June 5, 2022 at 9:00 AM EDT.
The MATINS trial is investigating the safety and efficacy of bexmarilimab as a monotherapy in patients with solid tumors who have exhausted all treatment options. Faron's wholly-owned novel precision cancer immunotherapy targets Clever-1, a receptor known to be expressed on immunosuppressive macrophages in the tumor microenvironment. Bexmarilimab works by converting highly immunosuppressive M2 macrophages to immune stimulating M1 macrophages, which activates antigen presentation and promotes interferon gamma secretion by leukocytes. This can turn "cold" tumors into "hot" tumors; allowing the immune system to recognize and target cancer cells.
The biomarker analysis shows that the tumors of patients benefiting from bexmarilimab treatment expressed low levels of PD-L1 – a patient group that generally does not receive benefit from or is ineligible for treatment with currently approved checkpoint inhibitors. Median PD-L1 Combined Positive Score (CPS) was 1 (range 0-2) in patients that benefitted from bexmarilimab. The PD-L1 CPS score was 5 (range 0-100) for patients who did not benefit from bexmarilimab treatment. Further, the analysis showed that patients with higher levels of Clever-1 positive intra-tumoral cells were more likely to experience a clinical benefit when treated with bexmarilimab [15% vs 3%, respectively; p=0.038].
"While the arrival of currently available checkpoint inhibitors was, undoubtedly, one of the most exciting breakthroughs in cancer care, their low response rate in most tumor types continues to hinder their clinical application," said Petri Bono, MD, PhD., Chief Medical Officer, Terveystalo Finland and Principal Investigator of the MATINS trial. "There remains an urgent need for effective new treatment options, including novel assets that work synergistically with existing checkpoint inhibitors to ignite and amplify the patient's immune response."
These data build on Faron's continued research to identify the patient population most likely to benefit from bexmarilimab treatment and follow the Company's earlier findings, announced in December 2021, that patients with low baseline serum levels of serum interferon gamma (IFNy) and tumor necrosis factor alpha (TNFa) were more likely to experience clinical benefit following treatment with bexmarilimab. Those patients with immunologically cold tumors also exhibited an ignition of immune response, as indicated by increased levels of IFNy following therapy, which suggests bexmarilimab may serve as a catalyst for the immune system allowing initially checkpoint inhibitor resistant or ineligible patients to become responsive to PD-1 blockade.
"Using a validated staining technique, these preliminary biomarker analyses indicate that bexmarilimab treatment may benefit patients whose tumors express low levels of PD-L1 and higher levels of CLEVER-1 positive intra-tumoral cells, which is opposite to what is usually seen with checkpoint inhibitors and other T cell activating agents," said Marie-Louise Fjällskog, M.D., Ph.D., Chief Medical Officer of Faron. "We are encouraged by this data as it furthers our belief that bexmarilimab has the potential to bring the promise of immunotherapy to a much broader patient population both as a monotherapy and in combination with currently approved anti-PD-1/L1 therapies."
For more information please contact:
Investor Contact
Faron Pharmaceuticals
Julia Balanova
VP, Investor Relations
julia.balanova@faron.com
investor.relations@faron.com
Phone: +1 (917) 306-6096
Media Contact
Faron Pharmaceuticals
Eric Van Zanten
VP, Communications
eric.vanzanten@faron.com
Phone: +1 (610) 529-6219
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner
Phone: +44 (0) 207 213 0880
Peel Hunt LLP, Broker
Christopher Golden, James Steel
Phone: +44 (0) 20 7418 8900
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen
Phone: +358 (0)40 555 4727
Jukka Järvelä
Phone: +358 (0)50 553 8990
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
faron@consilium-comms.com
Phone: +44 (0)20 3709 5700
About Bexmarilimab
Bexmarilimab is Faron's wholly-owned, investigative precision immunotherapy with the potential to provide permanent immune stimulation for difficult-to-treat cancers through targeting myeloid cell function. A novel anti-Clever-1 humanised antibody, bexmarilimab targets Clever-1 positive (Common Lymphatic Endothelial and Vascular Endothelial Receptor 1) tumour associated macrophages (TAMs) in the tumour microenvironment, converting these highly immunosuppressive M2 macrophages to immune stimulating M1 macrophages. In mouse models, bexmarilimab has successfully blocked or silenced Clever-1, activating antigen presentation and promoting interferon gamma secretion by leukocytes. Additional pre-clinical studies have proven that Clever-1, encoded by the Stabilin-1 or STAB-1 gene, is a major source of T cell exhaustion and involved in cancer growth and spread. Observations from clinical studies to date indicate that Clever-1 has the capacity to control T cell activation directly, suggesting that the inactivation of Clever-1 as an immune suppressive molecule could be more broadly applicable and more important than previously thought. As an immuno-oncology therapy, bexmarilimab has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules in both solid tumors and hematologic malignancies. Beyond immuno-oncology, it offers potential in infectious diseases, vaccine development and more.
About MATINS
The MATINS (Macrophage Antibody To INhibit immune Suppression) study is a first-in-human open label phase I/II clinical trial investigating the tolerability, safety and efficacy of bexmarilimab in ten different hard-to-treat metastatic or inoperable solid tumour cohorts - cholangiocarcinoma, colorectal cancer, cutaneous melanoma, ER+ breast cancer, gastric cancer, hepatocellular carcinoma, ovarian cancer, uveal melanoma, pancreatic cancer and anaplastic thyroid carcinoma - which are all known to host a significant number of Clever-1 positive tumour-associated macrophages (TAMs). The completed Part I of the trial dealt with tolerability, safety and dose escalation. The ongoing Part II is focused on identifying patients who show an increased number of Clever-1 positive TAMs and exploring safety and efficacy. Part III will be focused on assessing efficacy. Data from MATINS have shown that bexmarilimab has the potential to be the first macrophage immune checkpoint therapy. To date, the investigational therapy has been shown to be safe and well-tolerated, making it a low-risk candidate for combination with existing cancer therapies, and has demonstrated early signs of clinical benefit in patients who have exhausted all other treatment options.
About Faron Pharmaceuticals Ltd.
Faron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs caused by dysfunction of our immune system. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology, organ damage and bone marrow regeneration. Bexmarilimab, a novel anti-Clever-1 humanized antibody, is its investigative precision immunotherapy with the potential to provide permanent immune stimulation for difficult-to-treat cancers through targeting myeloid function. Currently in Phase I/II clinical development as a potential therapy for patients with solid tumors and hematologic malignancies, bexmarilimab has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules. Traumakine is an investigational intravenous (IV) interferon beta-1a therapy for the treatment of acute respiratory distress syndrome (ARDS) and other ischemic or hyperinflammatory conditions. Traumakine is currently being evaluated by the 59th Medical Wing of the US Air Force and the US Department of Defense for the prevention of multiple organ dysfunction syndrome (MODS) after ischemia-reperfusion injury caused by a major trauma. Faron is based in Turku, Finland. Further information is available at www.faron.com.
Forward Looking Statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should", "expect", "hope", "seek", ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
A number of factors could cause actual results to differ materially from the results and expectations discussed in the forward-looking statements, many of which are beyond the control of the Company. In particular, the early data from initial patients in the MATINS trial may not be replicated in larger patient numbers and the outcome of clinical trials may not be favourable or clinical trials over and above those currently planned may be required before the Company is able to apply for marketing approval for a product. In addition, other factors which could cause actual results to differ materially include the ability of the Company to successfully licence its programmes within the anticipated timeframe or at all, risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets or other sources of funding, reliance on key personnel, uninsured and underinsured losses and other factors. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
This information was brought to you by Cision http://news.cision.com
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SOURCE Faron Pharmaceuticals Oy | https://www.mysuncoast.com/prnewswire/2022/05/30/presentation-biomarker-analysis-asco/ | 2022-05-30T07:06:33Z |
Actor Bernard Cribbins dies at 93
LONDON (AP) — Bernard Cribbins, a beloved British entertainer whose seven-decade career ranged from the bawdy “Carry On” comedies to children’s television and “Doctor Who,” has died. He was 93.
Agent Gavin Barker Associates announced Cribbins’ death on Thursday.
“Bernard’s contribution to British entertainment is without question,” it said. “He was unique, typifying the best of his generation, and will be greatly missed by all who had the pleasure of knowing and working with him.”
A warm, avuncular character actor, Cribbins was a childhood presence for several generations of Britons. He played station porter Albert Perks in the 1970 movie classic “The Railway Children” and voiced all the characters in “The Wombles,” a 1970s animated series about a family of burrowing creatures living under London’s Wimbledon Common.
Cribbins also was the voice of road-safety squirrel Tufty Fluffytail in a series of public information films, and held the record for the most appearances — more than 100 — on children’s storytelling TV series “Jackanory.”
Born into a poor family in Oldham, northwest England, in 1928, Cribbins left school in his early teens and got his start as a stage manager and bit player in regional repertory theater.
He moved on to West End productions before appearing in a dizzying range of British films, including 1960 comedy “Two-Way Stretch” alongside Peter Sellers; 1966 “Doctor Who” spinoff “Daleks’ Invasion Earth 2150 AD”; the 1967 James Bond spoof “Casino Royale”; and one of Alfred Hitchcock’s final thrillers, “Frenzy” in 1972.
He appeared in several movies in the “Carry On” series, was a memorable guest star on classic sitcom “Fawlty Towers” and had top 10 hits with comedy songs “Hole in the Ground” and “Right Said Fred.”
A younger generation knew Cribbins as Wilfred Mott, a companion to David Tennant’s titular Doctor, when “Doctor Who” was revived in the early 21st century. He appeared in another BBC children’s series, “Old Jack’s Boat,” between 2013 and 2015, and filmed scenes earlier this year for an upcoming “Doctor Who” 60th-anniversary special.
“Doctor Who” showrunner Russell T. Davies remembered Cribbins as “a wonderful actor.”
“I’m so lucky to have known him ‚” Davies said. “Thanks for everything, my old soldier. A legend has left the world.”
Cribbins’ wife of 66 years, Gill, died last year.
Copyright 2022 The Associated Press. All rights reserved. | https://www.kxii.com/2022/07/28/actor-bernard-cribbins-dies-93/ | 2022-07-28T11:25:40Z |
- Provides customers across the region access to Amcor's expertise to accelerate development of sustainable packaging solutions
- Further positions Amcor as the innovation leader and partner of choice for leading consumer goods brands
JIANGYIN, China, Aug. 29, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in responsible packaging solutions, today announced the opening of its latest Innovation Center in Jiangyin, China. The new center brings advanced packaging technologies and more sustainable material science to Asia Pacific, helping to drive growth and innovation across the region.
"We are thrilled to bring the best of Amcor's unmatched innovation capabilities closer to our customers in Asia Pacific," said Mike Cash, President of Amcor's Flexibles business in Asia Pacific. "This world-class facility offers our customers in the region the opportunity to collaborate hand-in-hand with our experts to make innovative packaging ideas a reality. Asia Pacific is a key growth market for Amcor and our new innovation center is just one of many important, customer-focused investments we are making in the region."
William Jackson, Chief Technology Officer for Amcor's Flexibles business said, "As the only packaging company to establish a global innovation network, Amcor is uniquely positioned to help our customers benefit from a global approach to innovation. The new innovation center will enable us to develop the best ideas from across the globe for the regional market, greatly enhancing the customer experience."
At the core of all Amcor innovation centers are three key programs designed to encourage collaboration on how to develop, in real-time, the best solution that meets customer requirements that will help facilitate growth.
- The Catalyst™ program - a flexible, collaborative, and creative approach of co-innovation that allows customers to customize solutions for their markets and customers, leveraging advanced analytical and material science labs.
- The Ideation and Prototyping Innovation Lab – taking consumer insights and ideas to conduct rapid prototyping, helping significantly shorten product development and evaluation cycles.
- The Applications Lab – offering a range of production machinery testing capabilities to identify potential issues quickly and early, helping to make the product development process more efficient, cost-effective and seamless.
The Asia Pacific Innovation Center will also serve as a base for collaboration for the packaging industry. From in-depth research on new technology and materials to the latest packaging and composting know-how, the Innovation Center will allow all parties from across the supply chain and region to share best practices. For more information on Amcor's efforts in innovation, click here.
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
www.amcor.com
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SOURCE Amcor | https://www.wibw.com/prnewswire/2022/08/29/amcor-expands-innovation-center-network-with-opening-world-class-facility-asia-pacific/ | 2022-08-29T09:09:20Z |
A dearth of premier passers in the upcoming NFL draft meant the quarterback carousel spun faster than ever this spring.
Russell Wilson, Matt Ryan, Marcus Mariota, Carson Wentz, Teddy Bridgewater, Drew Lock and Deshaun Watsonall changed teams in 2022.
Franchises still searching for a prized quarterback won’t find much star power in this year’s crop of college QBs, although there are potential upgrades in the likes of Liberty’s Malik Willis, Pitt’s Kenny Pickett, Mississippi’s Matt Corral, Cincinnati’s Desmond Ridder and North Carolina’s Sam Howell.
None of them will rise to the very top of the draft as 16 quarterbacks have done this century, including Trevor Lawrence, Joe Burrow, Kyler Murray and Baker Mayfield over the past four years.
This might even be the first draft since 2013 without a quarterback selected in the top 10.
NFL Network analyst Daniel Jeremiah noted he was 32 minutes into a media conference call before he was even asked about this QB class.
“So that tells you it’s a little bit different draft,” he said. “None of the quarterbacks just completely blow you away.”
Every prospect has his problems. Pickett put up big numbers but has small hands. Willis’ upside is intriguing, but he’s inexperienced and imprecise.
One thing that does ooze from this QB class is defiance.
“Somebody’s always going to think you’re trash. That’s just the way the game goes,” Willis said. “I really don’t care too much about what he and she say.”
Neither does Ridder.
“We’re all overachievers and we all feel like there’s a chip on our shoulders just because they’re saying this draft class isn’t as good as others,” Ridder said. “But I think you’ll see a lot of success out of all of us in this league.”
Several general managers share that view.
“I think it’s a quality class,” Steelers GM Kevin Colbert said. “There’s going to be starting NFL quarterbacks coming out of this class, for sure.”
Panthers GM Scott Fitterer said that while the consensus says this is a weak quarterback class, “we look at it a little bit differently. We think there’s some guys who can come in and help us.”
Pickett is the best plug-and-play prospect of the bunch despite his small hands that concern some scouts. Although raw, Willis could provide a big payoff for a team willing to be patient.
“He’s got a huge arm,” Jeremiah said. “He is a powerfully built guy who can drive the ball. You saw it at the Senior Bowl when it was raining and everybody else was struggling. He didn’t have any issues whatsoever.”
Unlike Pickett, whose misfires that day reignited the hand size debate.
Burrow also raised red flags when his hands were measured at 9 inches at the 2020 combine, prompting him to tweet tongue-in-cheek: “Considering retirement after being informed the football will be slipping out of my tiny hands. Keep me in your thoughts.”
Burrow went No. 1 in the draft six weeks later to the Cincinnati Bengals, whom he led to the Super Bowl in his second season.
Nobody in this class of quarterbacks is expected to turn around a team’s fortunes overnight.
Remember, Lawrence was the consensus No. 1 pick by Jacksonville a year ago and went 3-14 with 12 TD passes and 17 interceptions as a rookie.
“We are coming off a year where you saw Mac Jones in New England play as well as you’re probably going to see most years from a rookie quarterback and the Patriots still couldn’t win a playoff game,” noted ESPN draft analyst Todd McShay.
Pickett’s 52 college starts are 22 more than Jones had at Alabama, and that experience makes him probably the safest bet.
As for Willis, as soon as Commissioner Roger Goodell calls his name on draft night, “he automatically is one of the three most dynamic runners and escape artists at the quarterback position” in the NFL, McShay said. “But he is not ready to play. He’s got two years at Liberty and as his coach Hugh Freeze said, ‘He doesn’t know what he doesn’t know.’”
That’s why many scouts believe Willis would be best served sitting a year behind a veteran as Trey Lance did last season when he backed up Jimmy Garoppolo in San Francisco.
Lance, who was selected third overall last year, would have been the top pick hands-down in 2022 had he stayed at North Dakota State and come out this year, Jeremiah said: “He’s more talented than any quarterback in this draft, and I don’t think it’s even particularly close.”
A year ago, five of the first 15 draft picks were quarterbacks, including the top three.
So, why is this quarterback class so wobbly?
“I think the pandemic is part of it,” Jeremiah said. “You think about the time that was lost, seasons were cut short. Arizona State played like three or four games. You had spring ball that teams missed out on. You also just have the way the math works. We had seven (rookie QBs) starting last year. Last year was a big year.”
Next year looks very promising, too, with a class headlined by Alabama’s Bryce Young, Ohio State’s C.J. Stroud, South Carolina’s Spencer Rattler and Florida’s Anthony Richardson.
Still, teams shouldn’t dismiss this year’s class entirely.
“I was as guilty as anybody in 2017,” Jeremiah said, “and we were talking about the excitement of Sam Darnold and Josh Rosen in the next year and then we had two of the best young quarterbacks we’ve seen in forever right under our noses.”
Those would be Patrick Mahomes and Deshaun Watson.
“It’s not easy to evaluate these guys, and the majority of us feel like this isn’t the best year for quarterbacks,” Jeremiah said. “But we’ve been proven wrong before, so we’ll see what happens.”
___
More AP NFL: https://apnews.com/hub/nfland https://apnews.com/hub/pro-32and https://twitter.com/AP_NFL | https://cw33.com/sports/ap-sports/dearth-of-premier-passers-in-draft-had-qb-carousel-spinning/ | 2022-04-23T17:32:20Z |
JACKSONVILLE, Fla., June 13, 2022 /PRNewswire/ -- Fintainium Inc. ("Fintainium" or the "Company") announced today that Bruning Bancshares ("Bruning") has made an equity investment into Fintainium alongside several family offices and high-net-worth individual investors comprising a total of $2.5M in equity. The investment is intended to support the continued development of Fintainium's next-generation treasury management platform and the hiring of key talent.
Alongside this investment, Fintainium has expanded its board of directors and appointed Kenneth McPhail as chairman and Chris Tonniges as a director. Ken brings over 30 years of investment and commercial banking experience within the financial services industry, having most recently served as EVP and Chief Strategy Officer at CIT Bank, where he was a lead executive on the sale of the bank to First Citizens BancShares, Raleigh, NC. Previously Ken acted as a senior investment banker in the financial Institutions' M&A sector, responsible for originating and executing over $60 billion in merger transactions. Chris is a fifth-generation banker and serves on the Board of Bruning. Chris is currently the CEO of a Health and Human Services Non-Profit organization but also worked at CIT Bank, where he was the head of FinTech banking services. He helped design, build, and create banking systems for FinTech customers allowing them to build and scale payment functionality. Combined, Ken and Chris bring over 60 years of experience in banking and FinTech to help accelerate Fintainium's growth to the next stage.
Chris remarked, "These are exciting times for Bruning Bancshares as we partner, enable, and assist in the growth, scalability, and revenue acceleration phase of Fintainium's history. This is the right time and partner for this strategic investment."
In addition to the board expansion, Fintainium has added Barton "Chip" Bright to the executive team as Chief Compliance Officer, General Counsel, and Corporate Secretary. Chip brings over 25 years of experience serving the financial services and IT industries. He has held senior and chief legal and compliance positions with such companies as SunTrust Bank, TSYS, BBVA Compass, FIS Global, FactorTrust, and BillingTree.
Fintainium's Chief Executive Officer, Richard Jackman, remarked, "We are very fortunate to add such high caliber talent to the FINTAINIUM leadership team. Ken's leadership along with Chris and Chip's deep fintech expertise will ensure that Fintainium continues to grow and marks an exciting time for the company."
Fintainium facilitates the relationship between financial institutions, businesses, and other technology companies by combining world-class domestic and international money movement products with workflow, accounting, and reconciliation automation. Fintainium enhances back-office operations for institutions and streamlines working capital management for end-users.
In addition, Fintainium is announcing the formation of Fintainium CUSO, LLC, to serve the Credit Union community. The LLC is currently in its pre-registration status.
To learn more about Fintainium and the services it provides, visit: https://fintainium.tiny.us/f-i
About Fintainium
Based in Jacksonville, Florida, Fintainium facilitates the relationship between financial institutions, businesses, and other technology companies. Fintainium combines world-class domestic and international money movement products with workflow, accounting, and reconciliation automation. Fintainium enhances back-office operations for institutions and streamlines accounting processes for end-users.
Fintainium is an open API-driven and modular platform that works seamlessly with banking core and ERP systems. Fintainium's modular platform delivers financial solutions such as embedded payments and lending, an integrated CFO toolkit with business intelligence, real-time payments, cash flow optimization, and back-office automation. Fintainium is the only platform that combines all these features into a simple, easy-to-navigate user interface.
For further information:
FINTAINIUM INC.
Richard Jackman
Chief Executive Officer
Richard.Jackman@gofintainium.com
Brandon Rosenblatt
Chief Strategy Officer
Brandon.Rosenblatt@gofintainium.com
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SOURCE Fintainium, Inc. | https://www.mysuncoast.com/prnewswire/2022/06/13/fintainium-receives-1m-funding-bruning-bancshares-expands-its-leadership-team-by-adding-key-board-members/ | 2022-06-13T19:08:32Z |
The Wellness at Work Recognition program honors Maryland businesses prioritizing wellbeing across their organizations
COLUMBIA, Md., Sept. 8, 2022 /PRNewswire/ -- Several Maryland-based MedStar Health organizations have been honored with 2022 Wellness at Work recognitions from the Maryland Department of Health's "Healthiest Maryland Businesses" program. Wellness at Work recognizes businesses of all sizes for their success in building a culture of wellbeing in the workplace. This year, MedStar Health patient care and research organizations made up nine of the 48 winners, including:
- MedStar Ambulatory Services
- MedStar Franklin Square Medical Center
- MedStar Good Samaritan Hospital
- MedStar Health Home Care
- MedStar Health Research Institute
- MedStar Montgomery Medical Center
- MedStar Southern Maryland Hospital Center
- MedStar St. Mary's Hospital
- MedStar Union Memorial Hospital
"This recognition from the Maryland Department of Health is an absolute honor," said Daniel Marchalik, MD, executive director of the MedStar Health Center for Wellbeing. "MedStar Health's strong showing among the top 'Healthiest Maryland Businesses' is a testament to the hard work being performed across our system to further prioritize associate wellbeing in all of our workplaces. The same wellness programs and resources being recognized in Maryland are also available to our associates based in Washington, D.C., and Virginia, and we are extremely proud of that."
This year, MedStar Health publicly launched the Center for Wellbeing to create and grow wellness initiatives focused on the needs of the system's more than 32,000 associates. This includes establishing increased access to child care and adult care, a 24/7 peer support hotline, recharge stations offering snacks and areas for meditation, wellness rounds to support associates at sites where they deliver care, Stress First Aid training, and more. The Center also serves as a systemwide hub to support wellbeing strategies developed and offered locally.
According to the Maryland Department of Health, Wellness at Work recognition criteria is based on the Centers for Disease Control and Prevention's Workplace Health Model. Applicants are asked to share how their organization is addressing wellbeing in four areas: programs, policies, benefits, and environmental strategies. Recognized businesses are assigned an Exemplar, Pacesetter, or Standout rating based on the strength of their wellbeing initiatives.
On Nov. 10, MedStar Health leaders will share wellbeing insights and strategies as part of the Healthiest Maryland Businesses Wellness at Work virtual recognition series. This live-streamed presentation will be available to the public.
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SOURCE MedStar Health | https://www.kxii.com/prnewswire/2022/09/08/medstar-health-earns-nine-healthiest-maryland-businesses-recognitions-maryland-department-health/ | 2022-09-08T16:48:47Z |
BEIJING, May 16, 2022 /PRNewswire/ -- Sohu.com Limited (NASDAQ: SOHU) ("Sohu" or the "Company"), China's leading online media, video, and game business group, today reported unaudited financial results for the first quarter ended March 31, 2022.
First Quarter Highlights
- Total revenues were US$193 million[1], down 13% year-over-year and flat quarter-over-quarter.
- Brand advertising revenues were US$24 million, down 23% year-over-year and 29% quarter-over-quarter.
- Online game revenues were US$158 million, down 11% year-over-year and up 10% quarter-over-quarter.
- GAAP net income[2] attributable to Sohu.com Limited was US$3 million, compared with net income of US$32 million in the first quarter of 2021 and net income of US$4 million in the fourth quarter of 2021.
- Non-GAAP[3] net income attributable to Sohu.com Limited was US$9 million, compared with net income of US$37 million in the first quarter of 2021 and net income of US$0.2 million in the fourth quarter of 2021.
Dr. Charles Zhang, Chairman and CEO of Sohu.com Limited, commented, "In the first quarter of 2022, despite the negative impact of COVID-19 and a challenging macroeconomic environment, we continued to focus on product refinements and improving operational efficiency. Thanks to the excellent performance of our online game business, we delivered better-than-expected bottom-line performance and achieved profitability for the quarter. For Sohu Media Portal, we carried out product upgrades and improvements in the overall quality of our news and content, all of which continued to draw users to our platforms and keep them engaged. For Sohu Video, with the continuous execution of our "Twin Engine" strategy, we proactively extended our live broadcasting to a greater number of scientific fields. We also focused on user acquisition for our key mobile products and explored ways to improve monetization for both Sohu Media Portal and Sohu Video. For Changyou, our online games performed well during the quarter, with revenue exceeding the high-end of our prior guidance."
First Quarter Financial Results
Revenues
Total revenues were US$193 million, down 13% year-over-year and flat quarter-over-quarter.
Brand advertising revenues totaled US$24 million, down 23% year-over-year and 29% quarter-over-quarter. The decrease was mainly due to a decrease in portal advertising revenues.
Online game revenues were US$158 million, down 11% year-over-year and up 10% quarter-over-quarter. The year-over-year decrease was mainly due to the natural decline of TLBB Vintage. The quarter-over-quarter increase was mainly due to improved performance of TLBB PC, as a result of content updates and promotional activities launched during the quarter.
Gross Margin
Both GAAP and non-GAAP gross margin were 75%, compared with 79% in the first quarter of 2021 and 73% in the fourth quarter of 2021.
Both GAAP and non-GAAP gross margin for the brand advertising business were 2%, compared with 20% in the first quarter of 2021 and 28% in the fourth quarter of 2021. The margin decrease was mainly due to the decrease in brand advertising revenues.
GAAP gross margin for online games was 86%, compared with 89% in the first quarter of 2021 and 84% in the fourth quarter of 2021. Non-GAAP gross margin for online games was 86%, compared with 90% in the first quarter of 2021 and 84% in the fourth quarter of 2021.
Operating Expenses
For the first quarter of 2022, GAAP operating expenses totaled US$132 million, up 6% year-over-year and down 9% quarter-over-quarter. Non-GAAP operating expenses were US$130 million, up 6% year-over-year and down 9% quarter-over-quarter. The year-over-year increase was mainly due to increases in traffic and user acquisition cost. The quarter-over-quarter decrease was mainly due to decreases in salary and benefits expenses.
Operating Profit/(Loss)
GAAP operating profit was US$13 million, compared with an operating profit of US$51 million in the first quarter of 2021 and an operating loss of US$3 million in the fourth quarter of 2021.
Non-GAAP operating profit was US$14 million, compared with an operating profit of US$53 million in the first quarter of 2021 and an operating loss of US$3 million in the fourth quarter of 2021.
Income Tax Expense
GAAP income tax expense was US$17 million, compared with income tax expense of US$23 million in the first quarter of 2021 and income tax expense of US$9 million in the fourth quarter of 2021. Non-GAAP income tax expense was US$17 million, compared with income tax expense of US$23 million in the first quarter of 2021 and income tax expense of US$6 million in the fourth quarter of 2021. Income tax expense in the fourth quarter of 2021 included a one-time tax benefit of US$7 million recognized by Changyou after pre-adjustment of its income tax due for 2021.
Net Income
GAAP net income attributable to Sohu.com Limited was US$3 million, or net income of US$0.07 per fully-diluted ADS, compared with net income of US$32 million in the first quarter of 2021 and net income of US$4 million in the fourth quarter of 2021.
Non-GAAP net income attributable to Sohu.com Limited was US$9 million, or net income of US$0.26 per fully-diluted ADS, compared with net income of US$37 million in the first quarter of 2021 and net income of US$0.2 million in the fourth quarter of 2021.
Liquidity and Capital Resources
As of March 31, 2022, cash and cash equivalents, short-term investments and long-term time deposits totaled approximately US$1.54 billion.
Supplementary Information for Changyou Results
First Quarter 2022 Operating Results
- For PC games, total average monthly active user accounts[4] (MAU) were 2.0 million, a decrease of 13% year-over-year and 1% quarter-over-quarter. The year-over-year decrease was mainly due to the natural decline of Changyou's older games. Total quarterly aggregate active paying accounts[5] (APA) were 1.0 million, an increase of 4% year-over-year and quarter-over-quarter.
- For mobile games, total average MAU were 2.4 million, an increase of 16% year-over-year and a decrease of 6% quarter-over-quarter. The year-over-year increase was mainly from Bright Stars, a game designed for female players launched during the quarter, and Little Raccoon: Heroes launched during the third quarter of 2021. The quarter-over-quarter decrease was mainly due to the natural decline of Changyou's older games, including Little Raccoon: Heroes. Total quarterly APA were 0.5 million, an increase of 14% year-over-year and 6% quarter-over-quarter. The year-over-year and quarter-over-quarter increases were mainly from Bright Stars.
First Quarter 2022 Unaudited Financial Results
Total revenues were US$160 million, a decrease of 11% year-over-year and an increase of 10% quarter-over-quarter. Online game revenues were US$158 million, a decrease of 11% year-over-year and an increase of 10% quarter-over-quarter. Online advertising revenues were US$2 million, a decrease of 37% year-over-year and an increase of 1% quarter-over-quarter.
GAAP and non-GAAP gross profit were both US$137 million, a decrease of 14% year-over-year and an increase of 13% quarter-over-quarter.
GAAP operating expenses were US$54 million, a decrease of 11% year-over-year and 21% quarter-over-quarter. The year-over-year decrease was mainly due to a decrease in bonus expenses, partially offset by an increase in marketing and promotional spending for online games. The quarter-over-quarter decrease was mainly due to a decrease in bonus expenses, as well as a decrease in marketing and promotional spending for online games.
Non-GAAP operating expenses were US$53 million, a decrease of 10% year-over-year and 21% quarter-over-quarter.
GAAP operating profit was US$83 million, compared with an operating profit of US$99 million for the first quarter of 2021 and US$53 million for the fourth quarter of 2021.
Non-GAAP operating profit was US$85 million, compared with a non-GAAP operating profit of US$101 million for the first quarter of 2021 and US$55 million for the fourth quarter of 2021.
Business Outlook
For the second quarter of 2022, Sohu estimates:
- Brand advertising revenues to be between US$22 million and US$25 million; this implies an annual decrease of 32% to 40%, and a sequential decrease of 7% to a sequential increase of 5%.
- Online game revenues to be between US$150 million and US$160 million; this implies an annual decrease of 1% to an annual increase of 6%, and a sequential decrease of 5% to a sequential increase of 1%.
- Non-GAAP net loss attributable to Sohu.com Limited to be between US$15 million and US$5 million; and GAAP net loss attributable to Sohu.com Limited to be between US$18 million and US$8 million.
For the second quarter 2022 guidance, the Company has adopted a presumed exchange rate of RMB6.59=US$1.00, as compared with the actual exchange rate of approximately RMB6.46=US$1.00 for the second quarter of 2021, and RMB6.35=US$1.00 for the first quarter of 2022.
This forecast reflects Sohu's management's current and preliminary view, which is subject to substantial uncertainty, particularly in view of the potential ongoing impact of the worldwide COVID-19 pandemic, which remains difficult to predict.
Non-GAAP Disclosure
To supplement the unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Sohu's management uses non-GAAP measures of gross profit, operating profit, net income, net income attributable to Sohu.com Limited and diluted net income attributable to Sohu.com Limited per ADS, which are adjusted from results based on GAAP to exclude the impact of share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; and interest expense recognized in connection with the Toll Charge imposed by the U.S. TCJA. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.
Sohu's management believes excluding share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; and interest expense recognized in connection with the Toll Charge from its non-GAAP financial measure is useful for itself and investors. Further, the impact of share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; and interest expense recognized in connection with the Toll Charge cannot be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts that have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As the impact of share-based compensation expense and changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values does not involve subsequent cash outflow or is reflected in the cash flows at the equity transaction level, Sohu does not factor this impact in when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, in general, the monthly financial results for internal reporting and any performance measures for commissions and bonuses are based on non-GAAP financial measures that exclude share-based compensation expense, changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values, and also excluded the interest expense recognized in connection with the Toll Charge.
The non-GAAP financial measures are provided to enhance investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP gross profit, operating profit, net income, net income attributable to Sohu.com Limited and diluted net income attributable to Sohu.com Limited per ADS excluding share-based compensation expense; changes in fair value recognized in the Company's consolidated statements of operations with respect to equity investments with readily determinable fair values; and interest expense recognized in connection with the Toll Charge is that these excluded items have been and will continue to be significant recurring expenses in Sohu's business for the foreseeable future. In order to mitigate these limitations Sohu has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between the GAAP financial measures that are most directly comparable to the non-GAAP financial measures that have been presented.
Notes to Financial Information
Financial information in this press release other than the information indicated as being non-GAAP is derived from Sohu's unaudited financial statements prepared in accordance with GAAP.
Safe Harbor Statement
This announcement contains forward-looking statements. It is currently expected that the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason. Statements that are not historical facts, including statements about Sohu's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, instability in global financial and credit markets and its potential impact on the Chinese economy; exchange rate fluctuations, including their potential impact on the Chinese economy and on Sohu's reported U.S. dollar results; recent slow-downs in the growth of the Chinese economy; the uncertain regulatory landscape in the People's Republic of China; fluctuations in Sohu's quarterly operating results; the possibilities that Sohu will be unable to recoup its investment in video content and that Changyou will be unable to develop a series of successful games for mobile platforms or successfully monetize mobile games it develops or acquires; Sohu's reliance on online advertising sales and online games for its revenues; the impact of the U.S. TCJA; the effects of the COVID-19 pandemic on the economy in China in general and on Sohu's business in particular; and the possibility that, unless an accommodation is reached between the SEC and the China Securities Regulatory Commission, the U.S. Holding Foreign Companies Accountable Act and rules of the SEC thereunder may cause the SEC to prohibit trading of Sohu's ADSs on NASDAQ, any other U.S. stock exchange, or the U.S. over-the-counter markets beginning in 2024 or, if currently pending legislation becomes law, 2023. Further information regarding these and other risks is included in Sohu's annual report on Form 20-F for the year ended December 31, 2021, and other filings with and information furnished to the Securities and Exchange Commission.
Conference Call and Webcast
Sohu's management team will host a conference call at 7:30 a.m. U.S. Eastern Time, May 16, 2022 (7:30 p.m. Beijing/Hong Kong time, May 16, 2022) following the quarterly results announcement. Participants can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/5725798. Once preregistration has been completed, participants will receive dial-in numbers, an event passcode, and a unique registrant ID.
To join the conference, please dial the number you receive, enter the event passcode followed by your unique registrant ID, and you will be joined to the conference instantly. Please dial in 10 minutes before the call is scheduled to begin.
A telephone replay of the call will be available after the conclusion of the conference call at 10:30 a.m. Eastern Time May 16 through May 23, 2022. The dial-in details for the telephone replay are:
The live Webcast and archive of the conference call will be available on the Investor Relations section of Sohu's Website at http://investors.sohu.com/.
About Sohu.com
Sohu.com Limited (NASDAQ: SOHU) was established by Dr. Charles Zhang, one of China's internet pioneers, in the 1990s. As a mainstream media platform in China, Sohu is indispensable to the daily life of millions of Chinese, providing a network of web properties and community based products which continually offer a broad array of choices regarding information, entertainment and communication to the vast number of Sohu users. Sohu has built one of the most comprehensive matrices of Chinese language web properties, consisting of the leading online media destinations Sohu News App, mobile news portal m.sohu.com, PC portal www.sohu.com; online video website tv.sohu.com; and the online games platform www.changyou.com/en/.
Sohu provides online brand advertising services as well as multiple news, information and content services on its matrix of websites and also on its mobile platforms. Sohu's online game business, conducted by its subsidiary Changyou, develops and operates a diverse portfolio of PC and mobile games, such as Tian Long Ba Bu ("TLBB"), one of the most popular PC games in China. Changyou also owns and operates the 17173.com Website, a game information portal in China.
For investor and media inquiries, please contact:
In China:
In the United States:
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SOURCE Sohu.com Limited | https://www.wibw.com/prnewswire/2022/05/16/sohucom-reports-first-quarter-2022-unaudited-financial-results/ | 2022-05-16T05:31:14Z |
Black man arrested on warrant for white man in case of mistaken identity
LAS VEGAS (KVVU/Gray News) - A case of mistaken identity will cost police in Nevada $90,000 after a Black man was arrested on a warrant for a white man.
The Henderson Police Department will pay $25,000 and Las Vegas Metro Police Department $65,000 to Shane Lee Brown, who was held in custody for nearly a week for a crime he was accused of committing.
In body camera video of a traffic stop in January 2020, when the then 23-year-old was stopped for not having his headlights on, he told officers he lost his wallet and license and had outstanding traffic tickets but planned to take care of them the next morning.
“We should call and see… If he has court tomorrow, we don’t want to arrest him that would be dumb,” one Henderson officer is heard saying.
When officers ran Brown’s name, it came back with a felony warrant, which was a weapons charge with Metro.
“You got arrested for something with a weapon in Metro, at least that is what they are saying,” the officer told Brown.
Brown replied that the officers had found the wrong guy.
“I’m not a felon, I didn’t commit a felony… I was trying to plead to anyone that would listen, to let everyone know like ‘Hey, can you double check?,’” Brown told KVVU.
Shane Neal Brown, a 51-year-old white man, had a warrant out for felon in possession of a firearm. In the body cam video of the 25-year old’s arrest, Henderson officers seemed unsure if they had the right man.
“Liability in this case is black and white, literally black and white,” Brown’s attorney E. Brent Bryson said.
In the video, one of the officers asked what they should tell the jail. The second officer said to tell them he has a weapons charge.
Brown was held in jail for six days, first in Henderson and then transferred to Clark County.
“Each of those entities stepped up and acknowledged that they had made a mistake,” Bryson said.
Bryson said the $90,000 settlement is close to the max.
“In Nevada, for negligence, when you sue a governmental entity, there is a statutory cap of $100,000,” Bryson said.
Losing his freedom, and being taken away from his two children for nearly a week, is still something that has traumatized the young father.
“I almost never drive any more unless it is absolutely necessary,” Brown told KVVU.
“It is just difficult for him to put what happened to him aside, and hopefully with time he will be able to do so,” Bryson contended.
Bryson hopes cases of mistaken identity can be prevented in the future with additional training of officers.
Copyright 2022 KVVU via Gray Media Group, Inc. All rights reserved. | https://www.mysuncoast.com/2022/06/29/black-man-arrested-warrant-white-man-case-mistaken-identity/ | 2022-06-29T21:44:21Z |
Mother attempts to kill ‘evil’ newborn baby on way to hospital, police say
LAS VEGAS (Gray News) - A mother in the Las Vegas area is accused of attempting to kill her newborn baby after she feared her child was “not good” and “probably evil,” according to police.
Officers with the Las Vegas Metropolitan Police Department report they were called to the emergency room at Mountain View Hospital overnight on March 27 when a child’s father had brought his newborn baby into the hospital for medical treatment.
The father also notified the hospital that the child’s mother refused to come into the hospital, but she was bleeding profusely, according to police.
Ashley Hollingsworth, 22, was later identified as the child’s mother and officers said they were able to make contact with her at a nearby intersection a couple of hours later.
Investigators learned that Hollingsworth had given birth in a guest bathroom at a relative’s house, where the couple was staying, about an hour before the two went to the hospital with the child.
Hollingsworth told police that on the way to the hospital, something triggered her to make her think that the baby was “probably evil.” According to an arrest report, she attempted to kill the baby twice by wrapping a blanket around the baby’s head and pinching the baby’s nose tight.
The 22-year-old told police that she felt like the baby “would start doing things” and “start making people kill each other.”
The child’s father was also in the car with Hollingsworth when heading to the hospital. He took the baby away from her, according to police.
Once arriving at the hospital, doctors initially believed the newborn may have suffered a brain bleed, but staff later determined the child likely did not suffer any injuries, police said.
A relative spoke to police later that day and told them Hollingsworth was acting abnormally before giving birth and that she mentioned that a devil was inside of her and attempting to kill her baby.
According to an arrest report, Hollingsworth told police that the baby’s eyes were black, had an abnormal scent that wasn’t good and was grunting. After this, she decided to wrap the blanket around the baby’s head.
Police said Hollingsworth had self-inflicted injuries to her face when she was found. And she told them she hit herself several times with a rock in an attempt to kill herself after she left the hospital.
Hollingsworth is facing charges of attempted murder and child abuse or neglect. Her next court date is currently scheduled for April 4.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wibw.com/2022/04/01/mother-attempts-kill-evil-newborn-baby-way-hospital-police-say/ | 2022-04-01T23:23:30Z |
NEW YORK, June 24, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Digital Turbine, Inc. (NASDAQ: APPS).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/digital-turbine-inc-loss-submission-form/?id=29056&from=4
The lawsuit seeks to recover losses for shareholders who purchased Digital Turbine between August 9, 2021 and May 17, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until August 5, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Digital Turbine, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company's recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company's internal control over financial reporting as to revenue recognition was deficient; and (4) as a result of the foregoing, the Company's net revenues was overstated throughout fiscal 2022; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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SOURCE Jakubowitz Law | https://www.wibw.com/prnewswire/2022/06/24/apps-shareholder-alert-jakubowitz-law-reminds-digital-turbine-shareholders-lead-plaintiff-deadline-august-5-2022/ | 2022-06-24T10:43:18Z |
FDA: Take 3 home tests if exposed to COVID to boost accuracy
WASHINGTON (AP) — If you were exposed to COVID-19, take three home tests instead of two to make sure you’re not infected, according to new U.S. recommendations released Thursday.
Previously, the Food and Drug Administration had advised taking two rapid antigen tests over two or three days to rule out infection. But the agency says new studies suggest that protocol can miss too many infections, and could result in people spreading the coronavirus to others, especially if they don’t develop symptoms.
The new guidance applies to people without symptoms who think they may have been exposed. People with symptoms can continue using two tests spaced 48 hours apart.
Thursday’s update reflects the evolving understanding of the accuracy of antigen tests, which are less sensitive than laboratory tests but have become the standard testing approach due to their speed and convenience. Instead of detecting the coronavirus itself, they detect protein traces, known as antigens, similar to rapid flu tests.
Health officials have repeatedly cautioned that the tests can give false negatives if taken too early. The Centers for Disease Control and Prevention recommends people without symptoms wait five days after an exposure. That’s because it generally takes several days before the antigens reach levels detectable via testing with a nose swab.
All 22 home antigen tests on the U.S. market were authorized for emergency use based on preliminary data, while companies and researchers gathered more definitive metrics on their accuracy.
The FDA said its latest decision reflects new information on the accuracy of antigen tests. In a government study, adding a third test improved accuracy from 62% to 79%.
Order free at-home tests: covid.gov/tests.
__
The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wibw.com/2022/08/11/fda-take-3-home-tests-if-exposed-covid-boost-accuracy/ | 2022-08-11T21:27:28Z |
Tracking the history of baseball’s two-way players
Ronald Martinez // Getty Images
Tracking the history of baseball’s two-way players
Two-way players are teammates who can pitch and hit. They often are placed in the designated hitter role to increase their at-bats. There are rare examples—some would say unicorns—in the major league baseball canon. While the Los Angeles Angels’ Japanese star Shohei Ohtani has wowed fans recently by succeeding as a pitcher and a hitter, his versatile skills are a true rarity in the majors.
It’s no surprise. Pitching and hitting are two separate skill sets and the increased focus on specialization in professional sports means players will tend to focus on the area in which they excel. Football, another sport with the potential for two-way players, has also experienced two-way rarity in recent decades, including in the 1990s with pro baseball player and superstar cornerback and wide receiver Deion Sanders. Two-way players in major league baseball require the ability to compete at the highest level in both those specializations, a no easy feat.
Stacker wanted to figure out just how rare two-way players have been in the professional ranks. So we took a historical deep dive using research from a variety of sources, including Baseball-Reference.com, the Society for American Baseball Research, and the Major League Baseball website. To provide a starting point for research, we also attempted to quantify two-way players by tabulating those who both pitched 10 games and made 200 or more plate appearances in a single season, using data from Stathead.
Read on through for a peek into the evolution of the two-way player, as well as a glimpse at which players have performed the role the best throughout baseball history.
You may also like: Major sports headlines from the year you were born
Jared Beilby // Stacker
Two-way players are a rarity post-1930
In total, 44 individual player seasons have achieved 10 games pitched and 200-plus plate appearances since 1900, according to data Stacker compiled via Stathead.
Those 44 seasons are split between 35 different players, with just one player—Bullet Rogan of the Kansas City Monarchs—tabulating more than two seasons. Generally, two-way players seem to lean toward a proficiency in pitching, tallying up the 44 individual seasons’ total wins above replacement, or WAR, results in 65.1 WAR for pitching and 50.8 WAR for batting. The two-way player role was effectively dead by 1930, as a grand total of three players have picked up qualifying seasons since then.
To make this chart palatable, we started with the year 1900, commonly accepted to be the beginning of the dead ball era. Had we widened the dataset to the 1800s, nearly 300 players would have been added; pitchers frequently played positional roles in the 19th century and often took on larger pitching workloads.
Transcendental Graphics // Getty Images
Pre-1900s: Two-way players run rampant
As just mentioned, pitchers generally had more plate appearances during the 19th century. Pitching rotations were in their infancy during the 1800s because teams often only had nine or 10 players available, and pitching depth remained fairly shallow even as rosters grew. This resulted in situations where pitchers would work every game, or every other game, substantially increasing their chances for plate appearances.
However, a two-way player list on Baseball-Reference.com does shed light on a few notable two-way players from the pre-1900 era. Bob Caruthers posted some gaudy numbers during his career between 1884 and 1893, including holding one of the best winning percentages among pitchers with at least 200 wins and a career batting average of .282. Guy Hecker completed the pitching triple crown in 1884. Two years later, Hecker won the batting championship. There was also Hall of Famer John Montgomery Ward, who pitched baseball’s second perfect game in 1880, before becoming a regular shortstop later in the 1880s.
Chicago Sun-Times/Chicago Daily News collection/Chicago History Museum/Getty Images
Early 1900s: The dead ball era signals a decline
As pitching rotations and position specialization became more prevalent, the dead ball era of roughly 1900 to 1920 saw an almost immediate decline in the role of the two-way player. In the century’s first decade, 16 different players contributed qualifying two-way seasons, with at least 10 games pitched, and 200-plus plate appearances. In the next decade, the total was just three.
Notable two-way seasons during this timespan include Doc Crandall of the Federal League’s St. Louis Terriers. In 1914, Crandall tossed 196 innings en route to a 13-9 record and batted .309, while making 348 plate appearances. Doc White also deserves a mention for achieving 10-plus games pitched and 200-plus plate appearances twice, in 1902 with the Philadelphia Phillies and repeating the feat in 1909 with the Chicago White Sox. Finally, Jack Taylor’s 9.4 WAR as a pitcher in 1902 for the Chicago Cubs is the finest pitching season among qualifying players.
Transcendental Graphics // Getty Images
1918–1919: Babe Ruth pulls double duty for two seasons
Thanks to his fame, Babe Ruth is perhaps the best-known two-way player in baseball. Renowned for hammering 714 career home runs, Ruth’s career began in 1914 as a pitcher for the Boston Red Sox. Ruth eventually dropped pitching to focus on batting. However, he worked a couple of double-duty seasons where he both pitched and played as a position player.
In the first of those double-duty seasons, in 1918, Ruth had 382 plate appearances and 11 home runs, while also going 13-7 as a pitcher with a 2.22 earned run average, or ERA, over 166 1/3 innings. The next year, Ruth upped his batting numbers—543 plate appearances with 29 homers—while also maintaining a respectable pitching line. Ruth finished 1919 with a 9-5 record, 133 1/3 innings pitched, and a 2.97 ERA.
Ruth left the Red Sox after the 1919 season via an infamous sale to the New York Yankees. He never returned regularly to the mound after leaving Boston, although he did pitch five times over his 15-season tenure with the Yankees. His last appearance as a pitcher came in 1933 when, at the age of 38, he hit a home run while tossing a complete game, in a 6-5 win over his old Red Sox team.
Transcendental Graphics // Getty Images
1920s–1930s: Bullet Rogan leads the way for Negro Leaguers
Immediately following Babe Ruth, Bullet Rogan stole the scene as baseball’s most prolific two-way player. As a member of the Kansas City Monarchs in the Negro National League, Rogan had five seasons with 10-plus games pitched and 200-plus plate appearances between 1920 and 1928.
Rogan’s best season occurred in 1922 when he tossed a 2.83 ERA over 193 2/3 innings while also swatting 15 homers and a .369 batting average over 283 plate appearances. That 1922 season is perhaps the most complete two-way season ever; Rogan snagged 4.6 WAR as a pitcher and 4.5 WAR as a batter, making him the first player to pick up four-plus WAR for both batting and pitching in the same season.
In total, 13 players in the Negro Leagues surpassed our qualification benchmark. Besides Rogan, the only other player to register multiple seasons was Harry Kenyon, who did so in 1921 for the Indianapolis ABCs and in 1925 for the Detroit Stars.
The last qualifying year for Negro Leaguers was 1930, when St. Louis Stars teammates Ted Radcliffe (nicknamed “Double Duty”) and John Williams each accomplished the feat. Radcliffe’s greatest two-way performance may have actually come in 1932, when he hit a grand slam in game one of a doubleheader at Yankee Stadium, and then tossed a shutout in the nightcap. Martín Dihigo and Leon Day also deserve mentions as solid two-way players, although they never eclipsed 10 games pitched and 200 plate appearances in a single year, most likely due to the Negro Leagues holding shorter seasons than the Majors.
Outside the Negro Leagues, Bob Smith and Bucky Walters operated as two-way players during the 1920s and 1930s, with both starting as position players before becoming pitchers several years into their Major League careers. However, neither player pitched and batted enough in the same season to hit our 10 games pitched and 200 plate appearances benchmark, because they infrequently played other roles once taking the mound.
Todd Warshaw // Getty Images
1940s–2010s: The two-way player enters a dark age
After World War II through the 2020s, just two players reached 10 games pitched and 200 plate appearances in a single season: René Monteagudo of the Philadelphia Phillies in 1945 and Willie Smith of the Los Angeles Angels in 1964. Monteagudo spent time in the outfield in 1945, making 225 plate appearances and batting .301, while also pitching 45 2/3 innings over 14 games in relief. Smith, meanwhile, struggled as a pitcher to start 1964 but found his groove at the plate and transitioned into an outfield role, where he ended up with 11 homers and a .301 batting average over 373 plate appearances.
Besides Monteagudo and Smith, several players during this two-way player drought spent time throughout their careers as pitchers and position players but any overlaps between those two roles were minimal. Notable players include Mel Queen, who transitioned from outfield to pitcher while with Cincinnati in the 1960s. Brooks Kieschnick did something similar, starting as a position player in 1994 and later moving to the mound in 2003 while playing for Milwaukee, where he also pinch hit. Rick Ankiel went in the opposite direction, beginning his career as a pitcher for St. Louis in 1999 before shifting to the outfield in 2007 after injury woes.
Sarah Stier // Getty Images
2018–present: Shohei Ohtani ends long dry spell
Roughly a century after Babe Ruth’s and Bullet Rogan’s two-way exploits, Shohei Ohtani burst on the scene with the Los Angeles Angels and set the majors on fire with his two-way capabilities. As a rookie, Ohtani hit 22 home runs in 367 plate appearances while also starting 10 games on the mound and pitching a 3.31 ERA over 51 2/3 innings.
Due to an injury-impacted 2019 and a COVID-19-shortened 2020, Ohtani’s next two seasons didn’t meet the 10 games pitched and 200 plate appearances qualifications in this article. However, his 2021 campaign was arguably one of the best two-way seasons of all time.
In 2021, Ohtani hit 46 home runs in 639 plate appearances while pitching a 3.18 ERA over 130 1/3 innings and en route to a 9-2 record. His combined innings pitched and plate appearances of 769 is a record (among qualifying two-way players), besting Ruth’s combined total of 676 in 1918. Ohtani joined Rogan to become just the second player to pick up at least four WAR in both pitching and batting (Ohtani’s WAR in 2021 tallied 4.1 for pitching and 4.9 for batting).
As we are still early in the 2022 season, it remains to be seen how Ohtani will progress as a two-way player. However, his potential looks bright: On Opening Day, Ohtani made history by becoming the first player in the American and National Leagues to open a season by throwing his team’s first pitch and taking his team’s first at-bat. | https://localnews8.com/stacker-sports/2022/05/13/tracking-the-history-of-baseballs-two-way-players/ | 2022-05-14T11:09:31Z |
BENSALEM, Pa., April 25, 2022 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. II ("Embark" or the "Company") (NASDAQ: EMBK).
Class Period: January 12, 2021 – January 5, 2022
Lead Plaintiff Deadline: May 31, 2022
Investors suffering losses on their Embark investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company had performed inadequate due diligence into Legacy Embark; (2) Legacy Embark and the Company following the Business Combination held no patents and an insignificant amount of test trucks; (3) accordingly, the Company had overstated its operational and technological capabilities; (4) as a result of all the foregoing, the Company had overstated the business and financial prospects of the Company post-Business Combination; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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SOURCE Law Offices of Howard G. Smith | https://www.wibw.com/prnewswire/2022/04/25/embk-investors-have-opportunity-lead-embark-technology-inc-fka-northern-genesis-acquisition-corp-ii-securities-fraud-lawsuit/ | 2022-04-25T16:39:33Z |
Denison police giving 200 backpacks for Denison elementary students
DENISON, Texas (KXII) - 200 Denison elementary students will be walking into their classroom with a new backpack stocked with school supplies, all thanks to the Denison Police Department.
“I have three books and then I have a pencil bag,” Student at Houston Elementary School Roxy Higgins said.
Higgins is just one of the 35 incoming students at Houston Elementary school in Denison that got to pick out a backpack with school supplies already in it, all paid for by the Denison Police Department ..
“Actually pretty good that they care about the students to make sure they have what they need,” Mom of Student Jessica Reeves said.
Denison police funded 200 backpacks with folders, notebooks, gluesticks, and a pencil bag inside.
“It was a blessing, we didn’t necessarily need it but it saved us some funds,” Mom of student Chelsea Higgins said.
“School supply shopping can be hard for families and it can be a burden so just anything that we can take off of our families and help them out and also help our teachers out so our kiddos have the supplies and have a successful start to the school year,” Principal at Houston Elementary School Kari Abrams said.
First year principal at Houston Elementary Kari Abrams, was there Tuesday morning to welcome and greet the lucky 35 kids.
The 200 backpacks are being dispersed across the 5 elementary schools in Denison ISD.
“School is starting back up again, you got your backpack and your folders, some glue sticks and spirals, are you ready for this school year? Yes,” Incoming First Grader Josinh said.
When asking the students what they are most looking forward to coming to school starting on Thursday.
“I don’t know everything,” Roxy said.
“Friends and playing with them, and school and all that,” Josinh said.
Copyright 2022 KXII. All rights reserved. | https://www.kxii.com/2022/08/09/denison-police-giving-200-backpacks-denison-elementary-students/ | 2022-08-09T21:52:15Z |
DALLAS (KDAF) — North Texas is set up to have some nice weather midweek as highs in the 70s and lows in the low 60s will be present.
NWS Fort Worth reports Wednesday will be partly cloudy with highs in the mid and upper 70s along with southeast winds increasing to 15 MPH in the afternoon. As night falls, the skies will be mostly cloudy with lows from the upper 50s to lower 60s as those southeast winds persist.
“Nice weather is expected for the mid-week period with partly to mostly cloudy skies, temperatures near normal, and southeast winds 10-15 MPH,” NWS Fort Worth says. | https://cw33.com/news/local/midweek-in-north-texas-to-feel-warm-and-breezy/ | 2022-04-27T16:45:24Z |
Tapped By Blockchain Gaming Studio, Kingdom Studios, Creators of the 2nd Largest Play-to-Earn Game, DeFi Kingdoms
BLOOMINGTON, Minn., Aug. 17, 2022 /PRNewswire/ -- Wisdom Gaming, the emerging leader in esports entertainment, today announced Wisdom Labs, a new division that will expand the company's creative and development capabilities. Wisdom Labs enhances the company's internal broadcast and product offerings and provides services within the Web3 space for brand partners. With a focus on accountability and transparency, the team will be building out capabilities to focus on augmented reality, virtual reality, mobile game development, and Web3 integrations.
"Wisdom Labs was created to build off of the incredible work our broadcast and events teams have become known for within the industry," said Ian Anderson, Co-Founder and Chief Innovation Officer at Wisdom Gaming. "Our high-caliber team empowers those internal teams to push the envelope of what's possible while allowing our partners to enter the space in a safe and measured way. Whether it's augmented reality, a Twitch extension, or a QR code quest, we're developing tools that will change how our communities experience gaming and live events."
Wisdom Labs hits the ground running at launch, partnering with Kingdom Studios to develop and build blockchain services for their highly anticipated Defi Kingdoms PvP game mode expansion. The partnership grew out of a shared belief that there is no one size fits all approach to creating and supporting gaming communities.
"We're thrilled to be working with Wisdom Labs on the long awaited PvP game mode," said Frisky Fox, Founder of Kingdom Studios. "Working with the Wisdom team allows us to leverage their significant creative and development experience to build out a feature our community has been eagerly waiting for. We know that the expansion is in good hands, which allows us to focus on improving and growing other aspects of DeFi Kingdom."
Wisdom Labs is the latest milestone for next gen esports and gaming media company Wisdom Gaming. Having recently celebrated the grand opening of Wisdom Gaming Studios, a first-of-its kind production and event venue, Wisdom is primed for continued growth as the company continues to expand its offerings and establish new partnerships. Later this month, Wisdom Gaming will host Gold Rush: Totally Excellent Weekend at Mall of America® where some of the most notable names in Rocket League will compete to be crowned Gold Rush Champion.
To learn more about Wisdom Gaming and Wisdom Labs, please visit wisdom.gg.
Wisdom Labs is the development arm of Wisdom Gaming group made up of a team of fully doxxed yield maxis working at the intersection of marketing and development. Both a creative agency and development team, Wisdom Labs utilizes innovative technology to take projects from ideation to development, all under one roof. Service offerings include Web3 integrations, smart contract development, security audits, token development, NFTs, blockchain-based mobile game development, DAPP development and in-app purchase support. In addition to Web3 services, Wisdom Labs offers Web2 capabilities including full-stack development, UX/UI design, Twitch extensions and ecommerce platform development. To check out all of our offerings and projects, please visit http://wisdom.gg/labs.
Wisdom Gaming is an emerging leader in esports entertainment, building global communities across the gaming ecosystem. Wisdom Gaming offers turnkey creative and production services, tournament organization, and marketing strategy for brands and publishers passionate about establishing their legacy in esports and gaming.
The company boasts a growing portfolio of esports organizations, including Torrent and the Minnesota Varsity League (MNVL), that span professional, amateur, and scholastic levels of competition. Established in 2019, the company is headquartered in Bloomington, MN, where it maintains an office, gaming and esports venue, and live broadcast studio.
For more information about Wisdom Gaming, visit Wisdom.gg or follow us @wsdmgg.
Kingdom Studios is best known for being the project administrator for DeFi Kingdoms, a play-to-earn game that is changing the gamefi landscape. Kingdom Studios was created from a dream to embrace the full potential of the blockchain in game form. The team is realizing that dream by providing services to DeFi Kingdoms: Serendale, Crystalvale, and DFK Blockchain. Kingdom Studios is proud to be innovating the play-to-earn and cross-chain gaming space with a core goal of making Decentralized Finance accessible to all.
Connect with Kingdom Studios https://www.kingdomstudios.io
Enter DeFi Kingdoms https://game.defikingdoms.com
Build with Kingdom Studios https://build.defikingdoms.com
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SOURCE Wisdom Gaming | https://www.mysuncoast.com/prnewswire/2022/08/17/wisdom-gaming-launches-new-development-division-wisdom-labs-expand-web3-offerings/ | 2022-08-17T16:54:06Z |
ONTARIO, Calif., June 30, 2022 /PRNewswire/ -- Southern California's Ontario International Airport (ONT) will be festive and busy over the long Independence Day weekend, officials said today, with passenger numbers expected to be 13% higher than the same holiday period in pre-pandemic 2019.
The airport anticipates 75,711 travelers from July 1-5, a significant increase over the 66,727 passengers who flew into and out of ONT over the corresponding period three years ago.
"Demand for air travel in Southern California remains strong, even more so at Ontario where we have surpassed pre-pandemic passenger totals for several months," said Atif Elkadi, chief executive officer of the Ontario International Airport Authority. "We recognize that the resurgence of air travel has not been as smooth for some in the industry, but we're well prepared and ready to serve our customers with a stress-free, passenger-friendly experience that is our hallmark."
Elkadi said travelers driving themselves to ONT can take advantage of the airport's online reservation system to pre-book parking at discounted rates close to the airport's passenger terminals. Easy curbside access is available for pick-up and drop-off.
Airline passengers will continue to experience efficient security screening offering bacteria-resistant screening trays, TSA Pre-Check and recently added CLEAR expedited security lanes in both terminals.
Travelers also will notice additional conveniences and amenities inside the airport including hydration stations, pet relief areas, disability services and specialized nursing rooms.
New Aspire premium lounges are accessible to travelers in both ONT terminals. Food, beverage and retail concessions are open throughout the airport and can be also accessed via mobile ordering.
Customers can still expect modern, entry halls bathed in natural light, frequently cleaned restrooms, spacious gate areas with ample seating, charging stations and free, dependable Wi-Fi.
Since the beginning of the pandemic, ONT has added new destinations including Charlotte, Honolulu, Mexico City, Reno-Tahoe and San Salvador. The Southern California gateway now offers nonstop service to more than 30 popular destinations.
From January through May this year, ONT reported more than 2 million domestic air travelers and 73,000 international passengers, 1.4% higher than the same period in 2019 and 74.6% greater than last year. Officials anticipate 1.7 million travelers at ONT this summer, making it the busiest since 2008.
Elkadi pointed to significant population shifts away from coastal areas to the Inland Empire in recent years for helping ONT set its industry-leading pace in rebounding from the effects of the pandemic.
According to U.S. Census data, population growth in the Inland Empire has been so robust that the San Bernardino-Riverside-Ontario Metropolitan Statistical Area (MSA) has surpassed that of San Francisco to become the 12th-largest in the U.S. Moreover, the Inland Empire has the highest recovery in employment among the largest 15 MSAs in California.
Ontario International Airport (ONT) is the fastest growing airport in the United States, according to Global Traveler, a leading publication for frequent fliers. Located in the Inland Empire, ONT is approximately 35 miles east of downtown Los Angeles in the center of Southern California. It is a full-service airport which offers nonstop commercial jet service to 33 major airports in the U.S., Mexico, Central America and Taiwan. More information is available at www.flyOntario.com. Follow @flyONT on Facebook, Twitter, and Instagram
The OIAA was formed in August 2012 by a Joint Powers Agreement between the City of Ontario and the County of San Bernardino to provide overall direction for the management, operations, development and marketing of ONT for the benefit of the Southern California economy and the residents of the airport's four-county catchment area. OIAA Commissioners are Ontario Mayor Pro Tem Alan D. Wapner (President), Retired Riverside Mayor Ronald O. Loveridge (Vice President), Ontario City Council Member Jim W. Bowman (Secretary), San Bernardino County Supervisor Curt Hagman (Commissioner) and retired business executive Julia Gouw (Commissioner).
OIAA Media Contact:
Steve Lambert (909) 841-7527 slambert@flyontario.com
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SOURCE Ontario International Airport | https://www.wibw.com/prnewswire/2022/06/30/ontario-international-airport-forecasts-busy-holiday-weekend-socal-gateway-continues-exceed-pre-pandemic-levels/ | 2022-06-30T12:35:07Z |
Two families and two doctors are suing the state of Alabama following the passage of Senate Bill 184, which makes it a felony for a doctor to administer gender-affirming health care to minors.
The Human Rights Campaign, several civil rights groups, and legal groups are representing the plaintiffs named in the complaint filed Monday.
The lawsuit challenges the bill, dubbed the Alabama Vulnerable Child Compassion and Protection Act, saying it violates the Fourteenth Amendment of the US Constitution's equal protection clause.
SB 184, which was signed into law by Republican Gov. Kay Ivey last week, states medical professionals who provide gender-affirming care to people 18 and under could face up to 10 years in prison. The law goes into effect May 8.
The complaint was filed on behalf of two Alabama families with transgender teenagers and two Alabama doctors.
Teens are currently receiving medical care, lawsuit says
The doctors are identified in the complaint as Dr. Morissa J. Ladinsky and Dr. Hussein D. Abdul-Latif, who are both providers at the Children's Hospital of Alabama and medical staff members at the University of Alabama at Birmingham Hospital.
The two teens are referred to anonymously in the lawsuit as Mary Roe, a 13-year-old transgender girl from Jefferson County and John Doe, a 17-year-old transgender boy living in Shelby County.
"The Transgender Plaintiffs are currently receiving medical care, including puberty blockers and hormone therapy, for gender dysphoria," the complaint reads. "If allowed to take effect, the Act will interrupt these medically necessary treatments, prevent them from obtaining future medically necessary treatments for gender dysphoria, and cause them to experience irreparable physical and psychological harm."
Medical associations including the American Psychological Association, American Medical Association, and the Pediatric Endocrine Society, have officially recognized the importance of gender-affirming care for minors.
Gina Maiola, communications director for Ivey, told CNN on Monday the governor's office has received the lawsuit saying, "We are prepared to defend our values and this legislation."
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accounts, the history behind an article. | https://www.albanyherald.com/news/lawsuit-filed-against-alabama-over-law-that-makes-it-a-felony-to-administer-gender-affirming/article_319b6c12-04d3-5def-bf55-c2fc30759273.html | 2022-04-12T17:24:20Z |
Matchbook joins Powered by Snowflake program to accelerate enablement of data for faster decision-making
- Matchbook AI delivers accurate, actionable data in real time
- Matchbook AI illuminates data to help businesses make better and faster decisions, with algorithms that automate efficiencies and processes
- Matchbook AI goes beyond data mastering to cleanse, match, enrich and standardize, as well as mitigate risks with effective trade compliance and monitoring
SANTA MONICA, Calif., June 14, 2022 /PRNewswire/ -- Matchbook AI is expanding its transformational Reference Data as a Service platform that delivers accurate and actionable data on demand for companies that struggle with the ongoing pain of disparate and low-quality data. Matchbook AI's platform provides a just-in-time data smart solution for business intelligence that resides between the customer's enterprise data systems and external reference data sources. The Matchbook AI platform is now powered by Snowflake, the Data Cloud company, fueling joint customers with intelligent data for near real time decision-making and managed data that can be shared across enterprises.
How the Matchbook AI platform works:
The Matchbook AI platform enables real-time access to actionable information and insights at every level of the organization. Matchbook AI accelerates decision-making by connecting enterprise systems and processes, whether it be vendor, procurement, supply chain, marketing, finance, or customers' data, and integrating it with commercial reference data.
Matchbook joins the Powered by Snowflake program
Joining the Powered by Snowflake program in March 2022, Matchbook AI is continuing to refine and improve its trusted data for business intelligence with the Snowflake Data Cloud. Snowflake's platform complements Matchbook AI's strategic decision-making mission, extending the benefit of an architecture designed to deliver incredibly fast querying times at scale to joint customers. In addition, it ensures near-zero maintenance while enabling outcomes with secure near-instant seamless sharing of live data.
"With the Powered by Snowflake program, we can accelerate time to market, deliver a better customer experience, and improve operational efficiency by leveraging the speed, scale, and performance of Snowflake's platform," says Rushabh Mehta, founder and CEO of Matchbook AI. "Our customers represent global leaders from across industries. They have sought out Matchbook to solve complex data problems and get a better data experience, faster queries and trusted outcomes they can act on in real time."
Regulatory compliance through trusted data
Global regulatory compliance is also an important part of the data journey, with billions lost to non-compliance fines each year. From data management to global regulatory requirements, Matchbook AI's Sentinel product enables companies with CDM, vendor onboarding, financial risk, AML / OFAC, Data Management needs.
Customer success:
Prior to using Matchbook AI, one of the leading commercial insurance providers in North America experienced significant delays in accessing accurate risk information for timely decisions and did not have insights into the changing risk profile of their portfolio. Leveraging Matchbook AI, the insurer now accesses and mitigates risks at the point of underwriting while monitoring in near-real time changes to risk across their commercial portfolio.
Visit Matchbook AI at Snowflake Summit June 13-16
Matchbook AI is proud to be a sponsor of Snowflake Summit 2022, live in Las Vegas, Nevada, from June 13 to 16, 2022. Visit booth #1917C to learn more.
Matchbook AI is delivering accurate and actionable data for decision-making in real time with its transformational Reference Data as a Service platform, which resides between a customer's enterprise data systems and commercial referential data sources. Matchbook AI customers come from all areas of industry, from financial, technology and insurance to global healthcare leaders and manufacturers, including Travelers, Johnson & Johnson, Boeing, Raytheon, American Express, Google, IBM, and more. Visit us at https://matchbookai.com.
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SOURCE Matchbook AI | https://www.wibw.com/prnewswire/2022/06/14/matchbook-advances-trusted-data-business-intelligence-with-snowflake-partnership/ | 2022-06-14T22:23:35Z |
Funds from the Two-Phase Fast-Track SBIR Grant, Combined, Would Total Approximately $2.0 Million
DALLAS, July 25, 2022 /PRNewswire/ -- Berkshire Biomedical Corporation ("Berkshire" or "the Company"), focused on developing its proprietary, hand-held, automated personalized drug dispensing technology to enhance patient wellness, today announced that it has been awarded the first phase of a two-phase Fast-Track Small Business Innovation Research (SBIR) grant (1R44DA057185-01) from the National Institutes of Health's (NIH) National Institute of Drug Abuse (NIDA).
Valued at approximately $2.0 million over two years, the two-phase grant will support continued non-clinical development of the Company's Computerized Oral Prescription Administration System (COPA™) for at home methadone administration as part of Medication for Opioid User Disorder (MOUD) treatment. COPA is a novel oral liquid dispensing system with remote monitoring and advanced analytics specifically designed to deliver accurate and precise doses of controlled and non-controlled prescription medications to only a biometrically authenticated Intended User. Berkshire has been awarded Phase I funds of approximately $266,000. Receipt of the approximate $1.7 million Phase II award will be contingent on an assessment of the Phase I report, the review and approval of any other documentation necessary for continuation, and availability of funds.
"The Fast-Track SBIR grant process is highly competitive, with only 15% of applicants having been chosen under this program in 2021. Berkshire's receipt of this award reflects the NIH's belief in the strength of the technology behind COPA and its potential to significantly increase access to Opioid Treatment Programs for persons suffering from Opioid Use Disorder (OUD) by dramatically increasing the number of persons being allowed to utilize take home therapy," stated John Timberlake, Chief Executive Officer of Berkshire.
Mr. Timberlake continued, "Prior to the COVID-19 epidemic, there was a serious unmet need to support OUD patients. Now there is an even greater critical need for a system capable of accurately and securely dispensing methadone for at home use that incorporates real-time remote monitoring, as the pandemic has limited access to methadone maintenance treatment (MMT) programs in both urban and rural sections of the U.S. That said, with assistance from this initial Phase I SBIR grant and the subsequent Phase II award, our goal is to complete the development of our enhancements to COPA, complete all necessary device, system, and human factors testing, followed by the subsequent submission of our De Novo request for review by the U.S. Food and Drug Administration (FDA)."
About the National Institute on Drug Abuse (NIDA)
NIDA is a component of the National Institutes of Health, U.S. Department of Health and Human Services. NIDA supports most of the world's research on the health aspects of drug use and addiction. The Institute carries out a large variety of programs to inform policy, improve practice, and advance addiction science. For more information about NIDA and its programs, visit www.nida.nih.gov.
About the National Institutes of Health (NIH)
NIH, the nation's medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.
About Berkshire Biomedical Corporation
Berkshire Biomedical Corporation is a privately held medical device company. Berkshire is developing drug dispensing technologies designed to deliver oral liquid drugs accurately and precisely. This is accomplished by pioneering the use of biometric technologies, combined with cloud-based and physician-enabled remote management systems, to provide accurate personalized medication delivery to only the authenticated Intended User. The Company's lead product under development, the Computerized Oral Prescription Administration System (COPA™), is a hand-held, automated, personalized oral liquid dispensing system designed and intended to deliver controlled and non-controlled liquid oral medications to only the authenticated Intended User upon confirmation of dual biometric identifications (fingerprint and dentition). Three overarching features under development combine to make COPA unique: security, compliance support (advanced data analytics) with remote monitoring, and precise oral liquid dispensing. Upon receiving regulatory authorization, the Company intends to initially seek opportunities to leverage COPA in the delivery and remote management of controlled oral liquid medications for Medication for Opioid Use Disorder (MOUD) and the treatment of pain, as they have the greatest need for the benefits of COPA's features.
In addition, the Company will look to expand COPA use in broader drug therapeutic categories, clinical applications, and businesses that manage the commercialization and data analytics provided by electronic devices to improve outcomes and reduce risk.
Additional information about Berkshire Biomedical and the COPA System can be found at www.berkbiomed.com. The COPA™ System is currently under development, has NOT been reviewed by the U.S. Food and Drug Administration and is not available for commercial sale.
Disclaimer: Research reported in this publication was supported by the National Institute on Drug Abuse of the National Institutes of Health under Award Number R44DA057185. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
CONTACT:
Berkshire Biomedical Corporation
info@berkbiomed.com
Melody Carey
Founder, President, and CEO
Rx Communications Group, LLC
mcarey@rxir.com
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SOURCE Berkshire Biomedical Corporation | https://www.mysuncoast.com/prnewswire/2022/07/25/berkshire-biomedical-awarded-nih-research-grant-support-continued-development-copa-system-automated-home-methadone-administration/ | 2022-07-25T17:10:51Z |
WELLINGTON, New Zealand (AP) — If the Buffalo supermarket shooter had learned anything from the massacre in New Zealand that apparently inspired him, it should have been that the violence didn’t achieve any of the gunman’s aims, a survivor said Tuesday.
Temel Atacocugu was shot nine timeswhen a white supremacist opened fire during Friday prayers at two mosques in Christchurch three years ago, killing 51 worshippers and severely injuring dozens more.
Atacocugu continues to recover from the gunshot wounds in his mouth, left arm and both legs.
One of the stated aims of the Christchurch gunman was to sow discord between racial and ethnic groups, eventually forcing nonwhite people to leave. But if anything, the opposite happened as Muslims and non-Muslims embraced each other in a shared and enduring grief.
Atacocugu said the news about the shooting in Buffalo, New York, and its connections to the Christchurch massacre was scary, triggering flashbacks for him.
“Violence does not solve the problem. They should see that. People, including the extremists, should see that violence does not fix anything,” he said. “Peace will fix it. They have to learn to talk with people around them, too.”
Atacocugu said he was heartbroken for the families of the Buffalo victimsand wished governments around the world would do more to stop extremism.
“They went to do their shopping and they had no idea what’s going to happen,” he said. “They were just thinking to buy their food, maybe they’re feeding their young kids at home.”
The 18-year-old gunman accused of killing 10 Black people in the Buffalo attack had watched a copy of the livestream video the New Zealand mosque shooter had taken, according to a document attributed to him.
In a 180-page diatribe, Payton Gendron said he subscribed to the same racist “great replacement” theory that the New Zealand gunman Brenton Tarrant wrote about in a similar 74-page screed.
And like Tarrant, Gendron allegedly painted slogans on his gun and used a helmet-mounted camera to livestream his attack on the internet.
Gendron, who surrendered inside the supermarket, has pleaded not guilty and was jailed under a suicide watch.
After eventually pleading guilty, Tarrant, an Australian citizen, in 2020 became the first person in New Zealand to be sentenced to life imprisonment without the possibility of parole, the toughest sentence available.
The Christchurch attack was livestreamed for 17 minutes and viewed by hundreds of thousands of people on Facebook before it was taken down. The video and Tarrant’s screed were quickly banned in New Zealand but can still be found in dark corners of the internet.
Since Christchurch, social platforms have learned to remove videos of extremist shootings faster. The Buffalo shooter allegedly livestreamed the attack to the gaming platform Twitch, which is owned by Amazon. Twitch said it removed the video in less than two minutes.
The Christchurch attacks also prompted the New Zealand government within weeks to pass new laws banning the deadliest types of semi-automatic weapons. Police paid owners to hand over their guns and destroyed more than 50,000 of them.
“We saw in New Zealand the gun control thing,” said Muti Bari, another survivor from the Christchurch attacks. “We saw some measures taken by the government immediately after. We are still waiting to see what the U.S.A. government does. But unfortunately, we haven’t seen anything like that.”
Bari, who hid in a bathroom at the Linwood mosque as the shooter killed people just feet away, said he tries not to think about that day too much but is reminded when he meets his friends, including one family that lost both a father and a son.
He said the easy access to guns in the U.S. coupled with constitutionally protected free speech — and the seeming prevalence of hate speech — was a potent mix that the U.S. government needed to consider more seriously.
The Christchurch attack has also inspired other white supremacist shootings, including a shooting at a Walmart in El Paso, Texas, that left 23 people dead.
Atacocugu, the survivor who was shot nine times, this year retraced the route the gunman drove from Dunedin to Christchurch on the morning of the attacks.
Despite his lingering injuries, Atacocugu walked and biked for two weeks along the entire 360-kilometer (224-mile) route. He wanted to bless the route, spread peace and change a journey that began with hate. | https://cw33.com/news/international/ap-international/new-zealand-shooting-survivor-says-violence-achieved-nothing/ | 2022-05-17T20:17:15Z |
LANSING Mich., May 16, 2022 /PRNewswire/ -- IONETIX, a leading cyclotron technology and isotope manufacturing company, is pleased to announce the FDA approval for N-13 Ammonia manufacturing at their Miami, FL location to support CIRA (Center for Imaging and Research of America). CIRA has been the leading independent imaging facility serving the greater Florida market area for nearly twenty years, priding themselves on bringing cutting edge diagnostics to the community. CIRA will be using the N-13 Ammonia manufactured by IONETIX to perform Cardiac PET imaging. Cardiac PET is used to diagnose, and risk stratify patients with coronary artery disease. Its superior image quality and ability to perform quantitative analysis is why it is considered the "gold standard" of non-invasive cardiac imaging for the detection and evaluation of CAD.
"The Top 16 Universities in the U.S. provide Cardiac PET/CT service using N-13 Ammonia, and we are proud to be the first to provide this capability to patients in South Florida." stated Rick Rippin, CIRA CEO. "In my opinion, N-13 is the gold standard in Cardiac PET and provides significant advantages over other tracers by improving image quality, improving quantification of myocardial blood flow, and enabling treadmill stress capability."
Kevin Cameron, CEO of IONETIX added, "CIRA is our 7th site approved by the FDA, and several more sites are underway. We are passionate at IONETIX about bringing our unique solution for N-13 Ammonia as a service to hospitals and outpatient office settings across the United States."
Kevin Cameron, CEO of IONETIX added, "CIRA is our 7th site approved by the FDA, and several more sites are underway. We are passionate at IONETIX about bringing our unique solution for N-13 Ammonia as a service to hospitals and outpatient office settings across the United States."
For more information, visit www.ionetix.com
About IONETIX: IONETIX is a US-based cyclotron and technology company founded in 2009. IONETIX offers turnkey N-13 Ammonia services domestically, as well as cyclotron equipment and installation services globally.
Contact:
Pete Burke
pburke@IONETIX.com
614-623-1383
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SOURCE IONETIX | https://www.wibw.com/prnewswire/2022/05/16/ionetix-partners-with-cira-bring-n-13-ammonia-south-florida/ | 2022-05-16T13:12:58Z |
LONDON (AP) — Queen Elizabeth II has been depicted on British banknotes and coins for decades. Her portrait also has been featured on currencies in dozens of other places around the world, in a reminder of the British empire’s colonial reach.
So what happens next after her death this week? It will take time for the United Kingdom, Canada, Australia, New Zealand and other countries to swap out the monarchs on their money.
Here’s a look at what is next for the paper cash featuring the late queen:
SWITCHING MONARCHS
The queen’s portrait on British notes and coins is expected to be replaced by a likeness of the new King Charles III, but it won’t be immediate.
“Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender,” the Bank of England said. An announcement on existing paper money issued by the U.K.’s central bank will be made after the official 10-day mourning period has ended, it said.
The Royal Mint, which is the official maker of British coins, said all coins with her portrait “remain legal tender and in circulation,” with more information to come later.
“As we respect this period of respectful mourning, we continue to strike coins as usual,” the Royal Mint said on its website.
With 4.7 billion U.K. banknotes worth 82 billion pounds ($95 billion) in circulation and about 29 billion coins, British money bearing the queen’s image will likely be in circulation for years.
“Rather than all of the current coins and notes being handed in, the process will be a gradual one and many of the coins featuring portraits of Queen Elizabeth II will remain in circulation for many years to come,” according to Coin Expert, a British coin research website.
After Charles takes the crown at his coronation, a new portrait will need to be taken to use on redesigned notes and coins, the website said.
Coins featuring him will show him facing to the left, replacing the queen’s rightward gaze in line with tradition dating to the 17th century. It dictates monarchs be shown in profile and in opposite direction to their predecessors.
WHAT ABOUT OTHER COUNTRIES?
Other nations’ currencies that feature the queen — from Australian, Canadian and Belizean dollars — also will be updated with the new monarch, but the process could take longer, because “it is much easier to enforce a new design in the country where it originates, rather than in other countries where different jurisdiction may take place,” the Coin Expert website said.
The Bank of Canada said its current $20 banknote, made of synthetic polymer, is designed “to circulate for years to come.”
“There is no legislative requirement to change the design within a prescribed period when the Monarch changes,” the Bank of Canada said.
In general, when a new portrait subject is chosen for Canadian money, the process begins with drawing up a fresh design, and a new note is ready to be issued “a few years later,” the bank said.
The Reserve Bank of New Zealand said it will issue all of its stock of coins depicting the queen before new ones go out with Charles’ image. The queen also is featured on the $20 bill, which is made “infrequently” and there is no “plan to destroy stock or shorten the life of existing banknotes just because they show the Queen,” the bank said.
“It will be several years before we need to introduce coins featuring King Charles the Third, and longer until stocks of $20 notes are exhausted,” it added.
THE QUEEN’S CURRENCY
She first appeared on money when she was still a princess. That was in 1935, when Canada’s $20 bill featured 8-year-old Princess Elizabeth, whose grandfather King George V was then the monarch, as part of a new series of notes.
Canadian $20 bills were updated with a new portrait of the queen in 1954, a year after her coronation, and her portrait also started appearing on other currencies around the world, mainly British colonies and Commonwealth countries.
British bills didn’t get her image until 1960 — seven years after her coronation. That’s when the Bank of England was granted permission to use her likeness on paper money, starting with the 1-pound note, though the formal and regal image was criticized for being too severe and unrealistic.
She became the first monarch to be depicted on British banknotes. British coins, meanwhile, have featured kings and queens for more than 1,000 years.
CURRENCIES OUTSIDE THE U.K.
At one time, Queen Elizabeth II appeared on at least 33 different currencies, more than any other monarch, an achievement noted by Guinness World Records.
Her image is still featured on money in places where she remains a beloved figure, such as Canada, and continue to incorporate the Union Jack into their flags, like Australia and New Zealand.
She’s also found on notes and coins issued by the Eastern Caribbean Central Bank, the monetary authority for a group of small nations including Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
Other places have long stopped putting her face on their currency. After Jamaica gained independence from Britain in 1962, its central bank replaced the queen on paper notes with portraits of national heroes such as Marcus Garvey.
Notes in the Seychelles now feature local wildlife instead of the queen. Bermuda did a similar revamp, though the queen retains a minor position on bills. Trinidad and Tobago swapped in a coat of arms after it became a republic.
Hong Kong dollars issued after Britain handed its colony back to Beijing in 1997 feature Chinese dragons and skyscrapers on the Asian financial center’s skyline.
___
Follow AP coverage of Queen Elizabeth II at https://apnews.com/hub/queen-elizabeth-ii | https://cw33.com/business/ap-business/ap-queen-elizabeth-is-featured-on-several-currencies-now-what/ | 2022-09-10T16:27:47Z |
FQHC executives report that piecemealed technology is a significant contributor to staff and patient retention challenges
BRADENTON, Fla., June 29, 2022 /PRNewswire/ -- Since 2000, the number of patients served by Federally Qualified Health Centers (FQHCs) has tripled. In 2020 alone, it is estimated that more than 29 million people received care at an FQHC. And as demand grows, so do the challenges.
From staffing shortages to financial constraints and upheavals in Medicaid coverage, the landscape is changing. These challenges are handcuffing the vast majority of FQHCs in their efforts to provide greater healthcare access to their underserved communities. These findings, including how using multiple disjointed point solutions contributes to this growing list of challenges, comprise a new report from Qure4u, an all-in-one digital health platform that optimizes patient care before, during, and after visits.
The report, titled "Mounting FQHC Challenges Point to Need for Integrated Technologies," is based on an independent survey of 71 FQHC leaders nationwide and was conducted in March 2022 by healthcare consultancy Sage Growth Partners and commissioned by Qure4u. This report finds that staff recruitment and retention is a top FQHC strategic imperative (60%) in the next 12-24 months, followed by improving the patient experience (44%) and recovering patient volumes (33%).
Other key findings include:
- 33% of FQHC leaders said budget and financial limitations continue to impede their mission.
- 83% of FQHCs fall within the middle of the technology adoption curve, while 34% are ready to try a new technology at an early adoption stage.
- 87% said the most important technology is a digital solution platform that addresses a variety of use cases, rather than using niche solutions from multiple vendors.
"As a physician, I am keenly aware that point solutions added haphazardly to practice workflows often end up causing more problems than they solve," said Monica Bolbjerg, MD, co-founder and CEO of Qure4u. "Solutions from various vendors that don't integrate with EHRs create more burden for patients and burnout for staff. The research confirms that, for FQHCs, a holistic platform is critical."
The report shares that nearly all FQHCs offer telehealth (97%) and patient portal (92%) solutions. Some also use digital patient experience tools for personalized care plans (49%), payment collection (46%), and self-scheduling (45%).
Within the next year, FQHCs expect to invest further in digital front door technologies. For 66% of respondents, this term refers to a strategy to optimize patient access and experience, while (45%) said it relates to implementing processes that reduce manual tasks for staff members. To that end, investment for digital patient intake (27%), self-scheduling (23%), and remote patient monitoring (23%) tools top the list.
Of respondents likely to purchase new technology within the next two years, 96% said that a single-platform solution is important. They said that training (62%), tech support (61%), and data-only interfaces (58%) rank as the main concerns with point solutions. Many stated that maintenance of multiple vendor contracts (49%) and the inefficiency created by multiple sign-in requirements (46%) disrupt staff workflows.
FQHC leaders value a single technology platform that integrates digital front door, telehealth, and remote patient monitoring with a seamless interface. All respondents said that it would increase clinical efficiency, increase patient engagement (86%), and decrease staff time spent on manual tasks (57%).
For more information and key takeaways on the survey findings, download the report at https://www.qure4u.com/fqhc-market-report-2022.
About Qure4u
Qure4u's all-in-one digital health platform optimizes the connection between providers and patients before, during, and after visits, empowering doctors to care for more patients and improve outcomes. Through seamless integration with the most popular EHRs, Qure4u partners with more than 22,000 providers and staff every day to create meaningful, rewarding connections for millions of people. Qure4u was named one of the MedikaLife Top 50 Most Impactful Tech Innovators for Digital Healthcare in 2021 and winner of the 2020 and 2021 athenahealth Client Feedback Award. For more information about Qure4u, visit Qure4u.com.
About Sage Growth Partners
Sage Growth Partners accelerates commercial success for healthcare organizations through a singular focus on growth. The company helps its clients thrive amid the complexities of a rapidly changing marketplace with deep domain expertise and an integrated application of research, strategy, and marketing. For more information, visit sage-growth.com.
Media Contact
John Gonda
jgonda@sage-growth.com
616.309.4888
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SOURCE Qure4u | https://www.wibw.com/prnewswire/2022/06/29/new-report-reveals-mounting-fqhc-challenges-need-integrated-technology/ | 2022-06-29T13:38:39Z |
Second Quarter 2022 Net Income of $249.3 million or $0.80 per Diluted Share
Second Quarter 2022 Adjusted Net Operating Income (Non-GAAP) of $254.4 million or $0.81 per Diluted Share
MILWAUKEE, Aug. 3, 2022 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today reported operating and financial results for the second quarter of 2022. Net income for the quarter was $249.3 million, or $0.80 per diluted share, compared with net income of $153.1 million, or $0.44 per diluted share, for the second quarter of 2021.
Adjusted net operating income for the second quarter of 2022 was $254.4 million, or $0.81 per diluted share, compared with $151.5 million, or $0.44 per diluted share, for the second quarter of 2021. We present the non-GAAP financial measure "Adjusted net operating income" to increase the comparability between periods of our financial results. See "Use of Non-GAAP financial measures" below.
Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC"), stated, "We delivered strong financial results in the second quarter and meaningful returns to our shareholders. Although the housing market and consumers continue to adjust to a changing economic environment, including higher interest rates and inflation, we believe our financial strength and capital flexibility position us to achieve success for all of our stakeholders. We demonstrated the benefits of our capital position in the quarter by growing insurance in force, repurchasing stock, paying a common stock dividend, decreasing our leverage ratio and producing an annualized 21.6% return on equity."
"We remain focused on executing our business strategies, providing critical uninterrupted support to the housing market, and helping individuals and families achieve affordable and sustainable homeownership," concluded Mattke.
Second Quarter Summary
- New insurance written was $24.3 billion, compared with $19.6 billion in the first quarter of 2022 and $33.6 billion in the second quarter of 2021, primarily reflecting a decrease in the refinance market in the current year compared with the same period in the prior year.
- Persistency, or the percentage of insurance remaining in force from one year prior, was 71.5% at June 30, 2022, compared with 66.9% at March 31, 2022, and 57.1% at June 30, 2021.
- Insurance in force of $286.8 billion at June 30, 2022 increased by 3.4% during the quarter and 9.5% compared with June 30, 2021.
- Primary delinquency inventory of 26,855 loans at June 30, 2022 decreased from 30,462 loans at March 31, 2022, and 42,999 loans at June 30, 2021.
- The loss ratio for the second quarter of 2022 was (38.7)%, compared with (7.6)% for the first quarter of 2022 and 11.6% for the second quarter of 2021.
- The underwriting expense ratio associated with our insurance operations for the second quarter of 2022 was 22.4%, compared with 23.0% for the first quarter of 2022 and 22.3% for the second quarter of 2021.
- Net premium yield was 36.2 basis points in the second quarter of 2022, compared with 36.9 basis points for the first quarter of 2022 and 39.1 basis points for the second quarter of 2021.
- Book value per common share outstanding as of June 30, 2022, decreased to $14.97, or 1%, from $15.18 as of December 31, 2021 and increased by 3% from $14.48 as of June 30, 2021. (June 30, 2022 book value per common share outstanding includes ($0.97) in net unrealized gains (losses) on securities, compared with $0.47 at December 31, 2021, and $0.66 at June 30, 2021).
- We paid a dividend of $0.08 per common share to shareholders during the second quarter of 2022.
- We repurchased 7.1 million shares of common stock at an average cost of $13.19 per share.
- We repurchased $17.9 million in aggregate principal amount of our 9% Convertible Junior Debentures due 2063, reducing potentially dilutive shares by 1.4 million.
- We executed a $473.6 million excess of loss reinsurance agreement (executed through an insurance linked notes transaction) that covers the vast majority of policies issued May 29, 2021 through December 31, 2021.
- We executed an excess of loss reinsurance agreement with a panel of reinsurers, which provides up to $174.9 million of reinsurance coverage on most of our new insurance written in 2022.
- MGIC paid a $400 million dividend to our holding company.
Third Quarter 2022 Activities
- In July, we redeemed the $242.3 million of aggregate principal outstanding on our 2023 Senior Notes for $248.4, plus accrued interest.
- In July, we repurchased an additional 2.1 million shares of our common stock at an average cost of $13.31 per share.
- We declared a dividend of $0.10 per common share to shareholders payable on August 25, 2022, to shareholders of record at the close of business on August 11, 2022.
Revenues
Total revenues for the second quarter of 2022 were $293.1 million, compared with $297.9 million in the second quarter last year. The decrease primarily reflects a change in net gains (losses) on investments and other financial instruments, partially offset by an increase in net premiums earned. Premiums earned in the second quarter of 2021 were $255.7 million compared with $251.5 million for the same period last year. Net premiums written for the quarter were $244.3 million, compared with $241.7 million for the same period last year. The increase in net premiums written and earned was due to an increase in insurance in force and a decrease in ceded premiums from our quota share reinsurance transactions, partially offset by a decrease in our premium yield compared to the same period last year.
Losses and expenses
Losses incurred
Net losses incurred in the second quarter of 2022 were $(99.1) million, compared with $29.2 million in the same period last year primarily due to favorable loss development and continuing decreases in delinquency inventory. While new delinquency notices added approximately $32 million to losses incurred in the second quarter of 2022, our re-estimation of loss reserves resulted in favorable development of approximately $131 million primarily related to a decrease in the estimated claim rate on delinquencies. In the second quarter of 2021, losses incurred were primarily related to reserves established on new notices with insignificant loss development.
Underwriting and other expenses
Net underwriting and other expenses were $56.4 million in the second quarter of 2022 compared with $56.8 million in the same period last year.
Interest expense
Interest expense decreased to $13.5 million in the second quarter of 2022 from $18.0 million in the same period last year. The decrease is due to the repurchase of a portion of our 9% Convertible Junior Debentures and repayment of our Federal Home Loan Bank Advance.
Loss on debt extinguishment
The second quarter 2022 loss on debt extinguishment of $6.4 million reflects the repurchase of $17.9 million in aggregate principal amount of our 9% Convertible Junior Debentures in excess of their carrying value.
Capital
- Total consolidated shareholders' equity was $4.6 billion as of June 30, 2022, and compared with $4.9 billion as of December 31, 2021 and June 30, 2021. The decrease from December 31, 2021, and June 30, 2021 primarily reflects a decrease in the fair value of our investment portfolio and additional stock repurchases, offset by net income.
- MGIC's PMIERs Available Assets totaled $5.8 billion, or $2.6 billion above its Minimum Required Assets as of June 30, 2022, compared with PMIERs Available Assets of $5.7 billion, or $2.2 billion above its Minimum Required Assets as of December 31, 2021, and PMIERS Available Assets of $5.7 billion, or $2.3 billion above its Minimum Required Assets as of June 30, 2021.
Other Balance Sheet and Liquidity Metrics
- Total consolidated assets were $6.6 billion as of June 30, 2022, compared with $7.3 billion as of December 31, 2021, and $7.6 billion as of June 30, 2021. The decrease from December 31, 2021, and June 30, 2021 primarily reflects a decrease in the fair value of our consolidated investment portfolio due to the increase in market interest rates.
- The fair value of our consolidated investment portfolio, cash and cash equivalents was $6.1 billion as of June 30, 2022, compared with $6.9 billion as of December 31, 2021, and $7.2 billion as of June 30, 2021.
- The fair value of investments, cash and cash equivalents at the holding company was $690 million as of June 30, 2022, compared with $663 million as of December 31, 2021, and $772 million as of June 30, 2021.
- Consolidated debt was $918 million as of June 30, 2022, compared with $1.1 billion as of December 31, 2021, and $1.2 billion as of June 30, 2021.
Conference Call and Webcast Details
MGIC Investment Corporation will hold a conference call August 4, 2022, at 10 a.m. ET to allow securities analysts and shareholders the opportunity to hear management discuss the company's quarterly results. Individuals interested in joining by telephone should register for the call at https://register.vevent.com/register/BI55fded8e56ea4408bcc2d91760362f99 to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed at the company's website at http://mtg.mgic.com/. A replay of the webcast will be available on the company's website through September 4, 2022 under "Newsroom."
About MGIC
Mortgage Guaranty Insurance Corporation (MGIC) (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality through the use of private mortgage insurance. At June 30, 2022, MGIC had $286.8 billion of primary insurance in force covering more than 1.1 million mortgages.
This press release, which includes certain additional statistical and other information, including non-GAAP financial information and a supplement that contains various portfolio statistics, are all available on the Company's website at https://mtg.mgic.com/ under "Newsroom."
From time to time MGIC Investment Corporation releases important information via postings on its corporate website, and via postings on MGIC's website for information related to underwriting and pricing, and intends to continue to do so in the future. Such postings include corrections of previous disclosures, and may be made without any other disclosure. Investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information for MGIC Investment Corporation alerts can be found at https://mtg.mgic.com/shareholder-services/email-alerts. For information about our underwriting and rates, see https://www.mgic.com/underwriting.
Safe Harbor Statement
Forward Looking Statements and Risk Factors:
Our actual results could be affected by the risk factors below. These risk factors should be reviewed in connection with this press release and our periodic reports to the Securities and Exchange Commission ("SEC"). These risk factors may also cause actual results to differ materially from the results contemplated by forward looking statements that we may make. Forward looking statements consist of statements which relate to matters other than historical fact, including matters that inherently refer to future events. Among others, statements that include words such as "believe," "anticipate," "will" or "expect," or words of similar import, are forward looking statements. We are not undertaking any obligation to update any forward looking statements or other statements we may make even though these statements may be affected by events or circumstances occurring after the forward looking statements or other statements were made. No investor should rely on the fact that such statements are current at any time other than the time at which this press release was delivered for dissemination to the public.
While we communicate with security analysts from time to time, it is against our policy to disclose to them any material non-public information or other confidential information. Accordingly, investors should not assume that we agree with any statement or report issued by any analyst irrespective of the content of the statement or report, and such reports are not our responsibility.
Use of Non-GAAP financial measures
We believe that use of the Non-GAAP measures of adjusted pre-tax operating income (loss), adjusted net operating income (loss) and adjusted net operating income (loss) per diluted share facilitate the evaluation of the company's core financial performance thereby providing relevant information to investors. These measures are not recognized in accordance with accounting principles generally accepted in the United States of America (GAAP) and should not be viewed as alternatives to GAAP measures of performance.
Adjusted pre-tax operating income (loss) is defined as GAAP income (loss) before tax, excluding the effects of net realized investment gains (losses), gain and losses on debt extinguishment, net impairment losses recognized in earnings and infrequent or unusual non-operating items where applicable.
Adjusted net operating income (loss) is defined as GAAP net income (loss) excluding the after-tax effects of net realized investment gains (losses), gain and losses on debt extinguishment, net impairment losses recognized in earnings, and infrequent or unusual non-operating items where applicable. The amounts of adjustments to components of pre-tax operating income (loss) are tax effected using a federal statutory tax rate of 21%.
Adjusted net operating income (loss) per diluted share is calculated in a manner consistent with the accounting standard regarding earnings per share by dividing (i) adjusted net operating income (loss) after making adjustments for interest expense on convertible debt, whenever the impact is dilutive, by (ii) diluted weighted average common shares outstanding, which reflects share dilution from unvested restricted stock units and from convertible debt when dilutive under the "if-converted" method.
Although adjusted pre-tax operating income (loss) and adjusted net operating income (loss) exclude certain items that have occurred in the past and are expected to occur in the future, the excluded items represent items that are: (1) not viewed as part of the operating performance of our primary activities; or (2) impacted by both discretionary and other economic or regulatory factors and are not necessarily indicative of operating trends, or both. These adjustments, along with the reasons for their treatment, are described below. Trends in the profitability of our fundamental operating activities can be more clearly identified without the fluctuations of these adjustments. Other companies may calculate these measures differently. Therefore, their measures may not be comparable to those used by us.
Risk Factors
As used below, "we," "our" and "us" refer to MGIC Investment Corporation's consolidated operations or to MGIC Investment Corporation, as the context requires; and "MGIC" refers to Mortgage Guaranty Insurance Corporation.
Risk Factors Relating to Global Events
The COVID-19 pandemic may materially impact our future financial results, business, liquidity and/or financial condition.
The COVID-19 pandemic materially impacted our 2020 financial results and, while uncertain, it may also materially impact our future financial results, business, liquidity and/or financial condition. The magnitude of the impact will be influenced by various factors, including the length and severity of the pandemic in the United States, efforts to reduce the transmission of COVID-19, the level of unemployment, government initiatives and actions taken by Fannie Mae and Freddie Mac (the "GSEs") (including mortgage forbearance and modification programs) to mitigate the economic harm caused by COVID-19.
The COVID-19 pandemic may impact our business in various ways, including the following which are described in more detail in the remainder of these risk factors:
- Our incurred losses will increase if loan delinquencies increase. We establish reserves for insurance losses when delinquency notices are received on loans that are two or more payments past due and for loans we estimate are delinquent prior to the close of the accounting period but for which delinquency notices have not yet been received (which are included in "IBNR"). In addition, our estimates of the number of delinquencies for which we will ultimately receive claims, and the amount, or severity, of each claim, may increase.
- We may be required to maintain more capital under the private mortgage insurer eligibility requirements ("PMIERs") of the GSEs, which generally require more capital to be held for delinquent loans than for performing loans and require more capital to be held as the number of payments missed on delinquent loans increases.
- If the number of delinquencies increases, the number of claims we must pay over time will generally increase.
- Our access to the reinsurance and capital markets may be limited and the terms under which we are able to access such markets may be negatively impacted.
The Russia-Ukraine war and/or other global events may adversely affect the U.S. economy and our business.
Russia's invasion of Ukraine has increased the already-elevated inflation rate, added more pressure to strained supply chains, and has increased volatility in the domestic and global financial markets. The war has impacted, and may impact, our business in various ways, including the following which are described in more detail in the remainder of these risk factors:
- The terms under which we are able to obtain excess-of-loss ("XOL") reinsurance through the insurance-linked notes ("ILN") market have been negatively impacted and terms under which we are able to access that market in the future may be less attractive.
- The risk of a cybersecurity incident that affects our company may have increased.
- An extended or broadened war may negatively impact the domestic economy, which may increase unemployment and inflation, or decrease home prices, in each case leading to an increase in loan delinquencies.
- The volatility in the financial markets may impact the performance of our investment portfolio and our investment portfolio may include investments in companies or securities that are negatively impacted by the war.
Risk Factors Relating to the Mortgage Insurance Industry and its Regulation
Downturns in the domestic economy or declines in home prices may result in more homeowners defaulting and our losses increasing, with a corresponding decrease in our returns.
Losses result from events that reduce a borrower's ability or willingness to make mortgage payments, such as unemployment, health issues, changes in family status, and decreases in home prices that result in the borrower's mortgage balance exceeding the net value of the home. A deterioration in economic conditions, including an increase in unemployment, generally increases the likelihood that borrowers will not have sufficient income to pay their mortgages and can also adversely affect home prices.
High levels of unemployment may result in an increasing number of loan delinquencies and an increasing number of insurance claims; however, unemployment is difficult to predict given the uncertainty in the current market environment, including as a result of global events such as the COVID-19 pandemic, the Russia-Ukraine war, and the possibility of an economic recession. Since the beginning of 2021, inflation has increased dramatically. The impact that higher inflation rates will have on loan delinquencies is unknown.
The seasonally-adjusted Purchase-Only U.S. Home Price Index of the Federal Housing Finance Agency (the "FHFA"), which is based on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac, indicates that home prices increased by 8.2% in the first five months of 2022, after increasing by 17.9%, 11.7%, and 5.9% in 2021, 2020 and 2019, respectively. The national average price-to-income ratio exceeds its historical average, in part as a result of recent home price appreciation outpacing increases in income. Home prices may decline even absent a deterioration in economic conditions due to declines in demand for homes, which in turn may result from changes in buyers' perceptions of the potential for future appreciation, restrictions on and the cost of mortgage credit due to more stringent underwriting standards, higher interest rates, changes to the tax deductibility of mortgage interest, decreases in the rate of household formations, or other factors. The significant increase in interest rates in recent months may put downward pressure on home prices.
The future impact of COVID-19-related forbearance and foreclosure mitigation activities is unknown.
Forbearance for federally-insured mortgages (including those delivered to or purchased by the GSEs) whose borrowers were affected by COVID-19 allows mortgage payments to be suspended for a period generally ranging from 6 to 18 months. Historically, forbearance plans have reduced the incidence of our losses on affected loans. However, given the uncertainty surrounding the long-term economic impact of COVID-19, it is difficult to predict the ultimate effect of COVID-19 related forbearances on our loss incidence. Whether a loan delinquency will cure, including through modification, when forbearance ends will depend on the economic circumstances of the borrower at that time. The severity of losses associated with delinquencies that do not cure will depend on economic conditions at that time, including home prices.
Foreclosures on mortgages purchased or securitized by the GSEs were suspended through July 31, 2021. Under a CFPB rule that was effective through December 31, 2021, with limited exceptions, servicers were required to ensure that at least one temporary procedural safeguard had been met before referring 120-day delinquent loans for foreclosure. Given the expiration of the CFPB rule, it is likely that foreclosures and claims will increase.
We may not continue to meet the GSEs' private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility.
We must comply with a GSE's PMIERs to be eligible to insure loans delivered to or purchased by that GSE. The PMIERs include financial requirements, as well as business, quality control and certain transaction approval requirements. The financial requirements of the PMIERs require a mortgage insurer's "Available Assets" (generally only the most liquid assets of an insurer) to equal or exceed its "Minimum Required Assets" (which are generally based on an insurer's book of risk in force and calculated from tables of factors with several risk dimensions, reduced for credit given for risk ceded under reinsurance agreements).
Based on our interpretation of the PMIERs, as of June 30, 2022, MGIC's Available Assets totaled $5.8 billion, or $2.6 billion in excess of its Minimum Required Assets. MGIC is in compliance with the PMIERs and eligible to insure loans purchased by the GSEs. Our "Minimum Required Assets" reflect a credit for risk ceded under our quota share reinsurance ("QSR") and XOL reinsurance transactions, which are discussed in our risk factor titled "The mix of business we write affects our Minimum Required Assets under the PMIERs, our premium yields and the likelihood of losses occurring." The calculated credit for XOL reinsurance transactions under PMIERs is generally based on the PMIERs requirement of the covered loans and the attachment and detachment points of the coverage, all of which fluctuate over time. PMIERs credit is generally not given for the reinsured risk above the PMIERs requirement. The GSEs have discretion to further limit reinsurance credit under the PMIERs. Refer to "Consolidated Results of Operations – Reinsurance Transactions" in Part I, Item 2 of our Quarterly Report on Form 10-Q for information about the calculated PMIERs credit for our XOL transactions. There is a risk we will not receive our current level of credit in future periods for ceded risk. In addition, we may not receive the same level of credit under future reinsurance transactions that we receive under existing transactions. If MGIC is not allowed certain levels of credit under the PMIERs, under certain circumstances, MGIC may terminate the reinsurance transactions without penalty.
The PMIERs generally require us to hold significantly more Minimum Required Assets for delinquent loans than for performing loans and the Minimum Required Assets required to be held increases as the number of payments missed on a delinquent loan increases. If the number of loan delinquencies increases for reasons discussed in these risk factors, or otherwise, it may cause our Minimum Required Assets to exceed our Available Assets. We are unable to predict the ultimate number of loans that will become delinquent.
If our Available Assets fall below our Minimum Required Assets, we would not be in compliance with the PMIERs. The PMIERs provide a list of remediation actions for a mortgage insurer's non-compliance, with additional actions possible in the GSEs' discretion. At the extreme, the GSEs may suspend or terminate our eligibility to insure loans purchased by them. Such suspension or termination would significantly reduce the volume of our new insurance written ("NIW"), the substantial majority of which is for loans delivered to or purchased by the GSEs. In addition to the increase in Minimum Required Assets associated with delinquent loans, factors that may negatively impact MGIC's ability to continue to comply with the financial requirements of the PMIERs include the following:
- The GSEs may make the PMIERs more onerous in the future. The PMIERs provide that the factors that determine Minimum Required Assets will be updated periodically, or as needed if there is a significant change in macroeconomic conditions or loan performance. We do not anticipate that the regular periodic updates will occur more frequently than once every two years. The PMIERs state that the GSEs will provide notice 180 days prior to the effective date of updates to the factors; however, the GSEs may amend the PMIERs at any time, including by imposing restrictions specific to our company.
- The PMIERs may be changed in response to the final regulatory capital framework for the GSEs that was published in February 2022.
- Our future operating results may be negatively impacted by the matters discussed in the rest of these risk factors. Such matters could decrease our revenues, increase our losses or require the use of assets, thereby creating a shortfall in Available Assets.
Should capital be needed by MGIC in the future, capital contributions from our holding company may not be available due to competing demands on holding company resources, including for repayment of debt.
Because we establish loss reserves only upon a loan delinquency rather than based on estimates of our ultimate losses on risk in force, losses may have a disproportionate adverse effect on our earnings in certain periods.
In accordance with accounting principles generally accepted in the United States, we establish case reserves for insurance losses and loss adjustment expenses only when delinquency notices are received for insured loans that are two or more payments past due and for loans we estimate are delinquent but for which delinquency notices have not yet been received (which we include in "IBNR"). Losses that may occur from loans that are not delinquent are not reflected in our financial statements, except when a "premium deficiency" is recorded. A premium deficiency would be recorded if the present value of expected future losses and expenses exceeds the present value of expected future premiums and already established loss reserves on the applicable loans. As a result, future losses incurred on loans that are not currently delinquent may have a material impact on future results as delinquencies emerge. As of June 30, 2022, we had established case reserves and reported losses incurred for 26,855 loans in our delinquency inventory and our IBNR reserve totaled $21 million. The number of loans in our delinquency inventory may increase from that level as a result of economic conditions relating to current global events or other factors and our losses incurred may increase.
Because loss reserve estimates are subject to uncertainties, paid claims may be substantially different than our loss reserves.
When we establish case reserves, we estimate our ultimate loss on delinquent loans by estimating the number of such loans that will result in a claim payment (the "claim rate"), and further estimating the amount of the claim payment (the "claim severity"). Changes to our claim rate and claim severity estimates could have a material impact on our future results, even in a stable economic environment. Our estimates incorporate anticipated cures, loss mitigation activity, rescissions and curtailments. The establishment of loss reserves is subject to inherent uncertainty and requires significant judgment by management. Our actual claim payments may differ substantially from our loss reserve estimates. Our estimates could be affected by several factors, including a change in regional or national economic conditions as discussed in these risk factors, the impact of government and GSE actions taken to mitigate the economic harm caused by the COVID-19 pandemic (including foreclosure moratoriums and mortgage forbearance and modification programs); efforts to reduce the transmission of COVID-19; and a change in the length of time loans are delinquent before claims are received. All else being equal, the longer a loan is delinquent before a claim is received, the greater the severity. As a result of foreclosure moratoriums and forbearance programs, the average time it takes to receive claims has increased. Economic conditions may differ from region to region. Information about the geographic dispersion of our risk in force and delinquency inventory can be found in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q. Losses incurred generally have followed a seasonal trend in which the second half of the year has weaker credit performance than the first half, with higher new default notice activity and a lower cure rate; however, the effects of the COVID-19 pandemic affected this pattern in 2020 and 2021.
The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance.
Alternatives to private mortgage insurance include:
- investors using risk mitigation and credit risk transfer techniques other than private mortgage insurance, or accepting credit risk without credit enhancement,
- lenders and other investors holding mortgages in portfolio and self-insuring,
- lenders using Federal Housing Administration ("FHA"), U.S. Department of Veterans Affairs ("VA") and other government mortgage insurance programs, and
- lenders originating mortgages using piggyback structures to avoid private mortgage insurance, such as a first mortgage with an 80% loan-to-value ("LTV") ratio and a second mortgage with a 10%, 15% or 20% LTV ratio rather than a first mortgage with a 90%, 95% or 100% LTV ratio that has private mortgage insurance.
The GSEs' charters generally require credit enhancement for a low down payment mortgage loan (a loan in an amount that exceeds 80% of a home's value) in order for such loan to be eligible for purchase by the GSEs. Private mortgage insurance generally has been purchased by lenders in primary mortgage market transactions to satisfy this credit enhancement requirement. In 2018, the GSEs initiated secondary mortgage market programs with loan level mortgage default coverage provided by various (re)insurers that are not mortgage insurers governed by PMIERs, and that are not selected by the lenders. These programs, which currently account for a small percentage of the low down payment market, compete with traditional private mortgage insurance and, due to differences in policy terms, they may offer premium rates that are below prevalent single premium lender-paid mortgage insurance ("LPMI") rates. We participate in these programs from time to time. See our risk factor titled "Changes in the business practices of the GSEs, federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses" for a discussion of various business practices of the GSEs that may be changed, including through expansion or modification of these programs.
The GSEs (and other investors) have also used other forms of credit enhancement that did not involve traditional private mortgage insurance, such as engaging in credit-linked note transactions executed in the capital markets, or using other forms of debt issuances or securitizations that transfer credit risk directly to other investors, including competitors and an affiliate of MGIC; using other risk mitigation techniques in conjunction with reduced levels of private mortgage insurance coverage; or accepting credit risk without credit enhancement.
The FHA's share of the low down payment residential mortgages that were subject to FHA, VA, USDA or primary private mortgage insurance was 26.0% in the first quarter of 2022, 24.7% in 2021, and 23.4% in 2020. Beginning in 2012, the FHA's share has been as low as 23.4% (in 2020) and as high as 42.1% (in 2012). Factors that influence the FHA's market share include relative rates and fees, underwriting guidelines and loan limits of the FHA, VA, private mortgage insurers and the GSEs; lenders' perceptions of legal risks under FHA versus GSE programs; flexibility for the FHA to establish new products as a result of federal legislation and programs; returns expected to be obtained by lenders for Ginnie Mae securitization of FHA-insured loans compared to those obtained from selling loans to the GSEs for securitization; and differences in policy terms, such as the ability of a borrower to cancel insurance coverage under certain circumstances. The focus of the Presidential Administration on equitable housing finance and sustainable housing opportunities increases the likelihood of a reduction in the FHA's mortgage insurance premium rates. Such a rate reduction would negatively impact our NIW; however, given the many factors that influence the FHA's market share, it is difficult to predict the impact. In addition, we cannot predict how the factors that affect the FHA's share of new insurance written will change in the future.
The VA's share of the low down payment residential mortgages that were subject to FHA, VA, USDA or primary private mortgage insurance was 28.2% in the first quarter of 2022, 30.2% in 2021, and 30.9% in 2020. Beginning in 2012, the VA's share has been as low as 22.8% (in 2013) and as high as 30.9% (in 2020). We believe that the VA's market share has generally been elevated in recent years because of an increase in the number of borrowers that are eligible for the VA's program, which offers 100% LTV ratio loans and charges a one-time funding fee that can be included in the loan amount, and because eligible borrowers have opted to use the VA program when refinancing their mortgages.
Changes in the business practices of the GSEs, federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses.
The substantial majority of our NIW is for loans purchased by the GSEs; therefore, the business practices of the GSEs greatly impact our business. In June 2022 the GSEs each published their Equitable Housing Finance Plans. The Plans seek to advance equity in housing finance over a three year period and include potential changes to the GSEs' business practices and policies. Specifically relating to mortgage insurance, (1) Fannie Mae's Plan contemplates the creation of special purchase credit program(s) (SPCPs) targeted to historically underserved borrowers with a goal of lowering costs for such borrowers through lower than standard mortgage insurance requirements; and (2) Freddie Mac's Plan contemplates the creation of SPCPs targeted to historically underserved borrowers with a goal of (a) working with mortgage insurers to reduce costs for high LTV borrowers and (b) updating mortgage insurance cancellation requirements. To the extent the business practices and policies of the GSEs regarding mortgage insurance coverage, costs and cancellation change, including more broadly than through SPCPs, such changes may negatively impact the mortgage insurance industry.
Other GSEs' business practices that affect the mortgage insurance industry include:
- The GSEs' PMIERs, the financial requirements of which are discussed in our risk factor titled "We may not continue to meet the GSEs' private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility."
- The capital and collateral requirements for participants in the GSEs' alternative forms of credit enhancement discussed in our risk factor titled "The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance."
- The level of private mortgage insurance coverage, subject to the limitations of the GSEs' charters, when private mortgage insurance is used as the required credit enhancement on low down payment mortgages (the GSEs generally require a level of mortgage insurance coverage that is higher than the level of coverage required by their charters; any change in the required level of coverage will impact our new risk written).
- The amount of loan level price adjustments and guaranty fees (which result in higher costs to borrowers) that the GSEs assess on loans that require private mortgage insurance. The requirements of the new GSE capital framework may lead the GSEs to increase their guaranty fees. In addition, the FHFA has indicated that it is reviewing the GSEs' pricing in connection with preparing them to exit conservatorship and to ensure that pricing subsidies benefit only affordable housing activities.
- Whether the GSEs select or influence the mortgage lender's selection of the mortgage insurer providing coverage.
- The underwriting standards that determine which loans are eligible for purchase by the GSEs, which can affect the quality of the risk insured by the mortgage insurer and the availability of mortgage loans.
- The terms on which mortgage insurance coverage can be canceled before reaching the cancellation thresholds established by law and the business practices associated with such cancellations. For more information, see the above discussion of the GSEs' Equitable Housing Plans and our risk factor titled "Changes in interest rates, house prices or mortgage insurance cancellation requirements may change the length of time that our policies remain in force."
- The programs established by the GSEs intended to avoid or mitigate loss on insured mortgages and the circumstances in which mortgage servicers must implement such programs.
- The terms that the GSEs require to be included in mortgage insurance policies for loans that they purchase, including limitations on the rescission rights of mortgage insurers.
- The extent to which the GSEs intervene in mortgage insurers' claims paying practices, rescission practices or rescission settlement practices with lenders.
- The maximum loan limits of the GSEs compared to those of the FHA and other investors.
- The benchmarks established by the FHFA for loans to be purchased by the GSEs, which can affect the loans available to be insured. In December 2021, the FHFA established the benchmark levels for 2022-2024 purchases of low-income home mortgages, very low-income home mortgages and low-income refinance mortgages, each of which exceeded the 2021 benchmarks. The FHFA also established two new sub-goals: one targeting minority communities and the other targeting low-income neighborhoods.
The FHFA has been the conservator of the GSEs since 2008 and has the authority to control and direct their operations. The increased role that the federal government has assumed in the residential housing finance system through the GSE conservatorship may increase the likelihood that the business practices of the GSEs change, including through administrative action, in ways that have a material adverse effect on us and that the charters of the GSEs are changed by new federal legislation.
It is uncertain what role the GSEs, FHA and private capital, including private mortgage insurance, will play in the residential housing finance system in the future. The timing and impact on our business of any resulting changes are uncertain. Many of the proposed changes would require Congressional action to implement and it is difficult to estimate when Congressional action would be final and how long any associated phase-in period may last.
Reinsurance may not always be available or its cost may increase.
We have in place QSR and XOL reinsurance transactions providing various amounts of coverage on 94% of our risk in force as of June 30, 2022. Refer to Note 4 – "Reinsurance" and "Consolidated Results of Operations – Reinsurance Transactions" in Part I, Items 1 and 2, respectively, of our Quarterly Report on Form 10-Q for more information about coverage under our reinsurance transactions. The reinsurance transactions reduce the tail-risk associated with stress scenarios. As a result, they reduce the capital that we are required to hold to support the risk and they allow us to earn higher returns on our business than we would without them. However, reinsurance may not always be available to us or available on similar terms, the reinsurance transactions subject us to counterparty credit risk, and the GSEs may change the credit they allow under the PMIERs for risk ceded under our reinsurance transactions. Most of our XOL transactions were entered into in capital market transactions with special purpose insurers that issued notes linked to the reinsurance coverage ("Insurance Linked Notes" or "ILNs"). Our access to XOL reinsurance through the ILN market may be disrupted and the terms under which we are able to access that market may be less attractive than in the past due to volatility stemming from circumstances such as higher interest rates, increased inflation and the Russia-Ukraine war. If we are unable to obtain reinsurance for our insurance written, the capital required to support our insurance written will not be reduced as discussed above and our returns may decrease absent an increase in our premium rates. An increase in our premium rates may lead to a decrease in our NIW.
We are subject to comprehensive regulation and other requirements, which we may fail to satisfy.
We are subject to comprehensive regulation, including by state insurance departments. Many regulations are designed for the protection of our insured policyholders and consumers, rather than for the benefit of investors. Mortgage insurers, including MGIC, have in the past been involved in litigation and regulatory actions related to alleged violations of the anti-referral fee provisions of the Real Estate Settlement Procedures Act ("RESPA"), and the notice provisions of the Fair Credit Reporting Act ("FCRA"). While these proceedings in the aggregate did not result in material liability for MGIC, there can be no assurance that the outcome of future proceedings, if any, under these laws would not have a material adverse effect on us. To the extent that we are construed to make independent credit decisions in connection with our contract underwriting activities, we also could be subject to increased regulatory requirements under the Equal Credit Opportunity Act ("ECOA"), FCRA, and other laws. Under relevant laws, examination may also be made of whether a mortgage insurer's underwriting decisions have a disparate impact on persons belonging to a protected class in violation of the law.
Although their scope varies, state insurance laws generally grant broad supervisory powers to agencies or officials to examine insurance companies and enforce rules or exercise discretion affecting almost every significant aspect of the insurance business, including payment for the referral of insurance business, premium rates and discrimination in pricing, and minimum capital requirements. The increased use, by the private mortgage insurance industry, of risk-based pricing systems that establish premium rates based on more attributes than previously considered, and of algorithms, artificial intelligence and data and analytics, has led to additional regulatory scrutiny of premium rates and of other matters such as discrimination in pricing and underwriting, data privacy and access to insurance. For more information about state capital requirements, see our risk factor titled "State capital requirements may prevent us from continuing to write new insurance on an uninterrupted basis." For information about regulation of data privacy, see our risk factor titled "We could be adversely affected if personal information on consumers that we maintain is improperly disclosed; our information technology systems are damaged or their operations are interrupted; or our automated processes do not operate as expected." For more details about the various ways in which our subsidiaries are regulated, see "Business - Regulation" in Item 1 of our Annual Report on Form 10-K for the year ended December 31, 2021.
While we have established policies and procedures to comply with applicable laws and regulations, many such laws and regulations are complex and it is not possible to predict the eventual scope, duration or outcome of any reviews or investigations nor is it possible to predict their effect on us or the mortgage insurance industry.
If the volume of low down payment home mortgage originations declines, the amount of insurance that we write could decline.
The factors that may affect the volume of low down payment mortgage originations include the health of the U.S. economy, conditions in regional and local economies and the level of consumer confidence; restrictions on mortgage credit due to more stringent underwriting standards, liquidity issues or risk-retention and/or capital requirements affecting lenders; the level of home mortgage interest rates; housing affordability; new and existing housing availability; the rate of household formation, which is influenced, in part, by population and immigration trends; homeownership rates; the rate of home price appreciation, which in times of heavy refinancing can affect whether refinanced loans have LTV ratios that require private mortgage insurance; and government housing policy encouraging loans to first-time homebuyers. A decline in the volume of low down payment home mortgage originations could decrease demand for mortgage insurance and limit our NIW. For other factors that could decrease the demand for mortgage insurance, see our risk factor titled "The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance."
State capital requirements may prevent us from continuing to write new insurance on an uninterrupted basis.
The insurance laws of 16 jurisdictions, including Wisconsin, MGIC's domiciliary state, require a mortgage insurer to maintain a minimum amount of statutory capital relative to its risk in force (or a similar measure) in order for the mortgage insurer to continue to write new business. We refer to these requirements as the "State Capital Requirements." While they vary among jurisdictions, the most common State Capital Requirements allow for a maximum risk-to-capital ratio of 25 to 1. A risk-to-capital ratio will increase if (i) the percentage decrease in capital exceeds the percentage decrease in insured risk, or (ii) the percentage increase in capital is less than the percentage increase in insured risk. Wisconsin does not regulate capital by using a risk-to-capital measure but instead requires a minimum policyholder position ("MPP"). MGIC's "policyholder position" includes its net worth or surplus, and its contingency reserve.
At June 30, 2022 MGIC's risk-to-capital ratio was 9.7 to 1, below the maximum allowed by the jurisdictions with State Capital Requirements, and its policyholder position was $3.5 billion above the required MPP of $1.9 billion. Our risk-to-capital ratio and MPP reflect full credit for the risk ceded under our quota share reinsurance and excess of loss transactions with unaffiliated reinsurers. It is possible that under the revised State Capital Requirements discussed below, MGIC will not be allowed full credit for the risk ceded under such transactions. If MGIC is not allowed an agreed level of credit under the State Capital Requirements, MGIC may terminate the reinsurance transactions, without penalty.
The NAIC previously announced plans to revise the State Capital Requirements that are provided for in its Mortgage Guaranty Insurance Model Act. In December 2019, a working group of state regulators released an exposure draft of a revised Mortgage Guaranty Insurance Model Act and a risk-based capital framework to establish capital requirements for mortgage insurers, although no date has been established by which the NAIC must propose revisions to the capital requirements and certain items have not yet been completely addressed by the framework, including the treatment of ceded risk and minimum capital floors.
While MGIC currently meets the State Capital Requirements of Wisconsin and all other jurisdictions, it could be prevented from writing new business in the future in all jurisdictions if it fails to meet the State Capital Requirements of Wisconsin, or it could be prevented from writing new business in a particular jurisdiction if it fails to meet the State Capital Requirements of that jurisdiction, and in each case if MGIC does not obtain a waiver of such requirements. It is possible that regulatory action by one or more jurisdictions, including those that do not have specific State Capital Requirements, may prevent MGIC from continuing to write new insurance in such jurisdictions. If we are unable to write business in a particular jurisdiction, lenders may be unwilling to procure insurance from us anywhere. In addition, a lender's assessment of the future ability of our insurance operations to meet the State Capital Requirements or the PMIERs may affect its willingness to procure insurance from us. In this regard, see our risk factor titled "Competition or changes in our relationships with our customers could reduce our revenues, reduce our premium yields and/or increase our losses." A possible future failure by MGIC to meet the State Capital Requirements or the PMIERs will not necessarily mean that MGIC lacks sufficient resources to pay claims on its insurance liabilities. You should read the rest of these risk factors for information about matters that could negatively affect MGIC's compliance with State Capital Requirements and its claims paying resources, including the effects of the COVID-19 pandemic.
We are susceptible to disruptions in the servicing of mortgage loans that we insure and we rely on third-party reporting for information regarding the mortgage loans we insure.
We depend on reliable, consistent third-party servicing of the loans that we insure. An increase in delinquent loans may result in liquidity issues for servicers. When a mortgage loan that is collateral for a mortgage backed security ("MBS") becomes delinquent, the servicer is usually required to continue to pay principal and interest to the MBS investors, generally for four months, even though the servicer is not receiving payments from borrowers. This may cause liquidity issues for especially non-bank servicers (who service approximately 47% of the loans underlying our insurance in force as of June 30, 2022) because they do not have the same sources of liquidity that bank servicers have.
While there has been no disruption in our premium receipts through the end of June 2022, servicers who experience future liquidity issues may be less likely to advance premiums to us on policies covering delinquent loans or to remit premiums on policies covering loans that are not delinquent. Our policies generally allow us to cancel coverage on loans that are not delinquent if the premiums are not paid within a grace period.
An increase in delinquent loans or a transfer of servicing resulting from liquidity issues, may increase the operational burden on servicers, cause a disruption in the servicing of delinquent loans and reduce servicers' abilities to undertake mitigation efforts that could help limit our losses.
The information presented in this report and on our website with respect to the mortgage loans we insure is based on information reported to us by third parties, including the servicers and originators of the mortgage loans, and information presented may be subject to lapses or inaccuracies in reporting from such third parties. In many cases, we may not be aware that information reported to us is incorrect until such time as a claim is made against us under the relevant insurance policy. We do not consistently receive monthly policy status information from servicers for single premium policies, and may not be aware that the mortgage loans insured by such policies have been repaid. We periodically attempt to determine if coverage is still in force on such policies by asking the last servicer of record or through the periodic reconciliation of loan information with certain servicers. It may be possible that our reports continue to reflect, as active, policies on mortgage loans that have been repaid.
Changes in interest rates, house prices or mortgage insurance cancellation requirements may change the length of time that our policies remain in force.
The premium from a single premium policy is collected upfront and generally earned over the estimated life of the policy. In contrast, premiums from monthly and annual premium policies are received each month or year, as applicable, and earned each month over the life of the policy. In each year, most of our premiums earned are from insurance that has been written in prior years. As a result, the length of time insurance remains in force, which is generally measured by persistency (the percentage of our insurance remaining in force from one year prior), is a significant determinant of our revenues. A higher than expected persistency rate may decrease the profitability from single premium policies because they will remain in force longer and may increase the incidence of claims than was estimated when the policies were written. A low persistency rate on monthly and annual premium policies will reduce future premiums but may also reduce the incidence of claims, while a high persistency on those policies will increase future premiums but may increase the incidence of claims.
Our persistency rate was 71.5% at June 30, 2022, 62.6% at December 31, 2021, and 60.5% at December 31, 2020. Since 2000, our year-end persistency ranged from a high of 84.7% at December 31, 2009 to a low of 47.1% at December 31, 2003. Our persistency rate is primarily affected by the level of current mortgage interest rates compared to the mortgage coupon rates on our insurance in force, which affects the vulnerability of the insurance in force to refinancing; and the current amount of equity that borrowers have in the homes underlying our insurance in force. The amount of equity affects persistency in the following ways:
- Borrowers with significant equity may be able to refinance their loans without requiring mortgage insurance.
- The Homeowners Protection Act ("HOPA") requires servicers to cancel mortgage insurance when a borrower's LTV ratio meets or is scheduled to meet certain levels, generally based on the original value of the home and subject to various conditions.
- The GSEs' mortgage insurance cancellation guidelines apply more broadly than HOPA and also consider a home's current value. For example, borrowers may request cancellation of mortgage insurance based on the home's current value if certain LTV and seasoning requirements are met and the borrowers have an acceptable payment history. For loans seasoned between two and five years, the LTV ratio must be 75% or less, and for loans seasoned more than five years the LTV ratio must be 80% or less. For more information about the GSEs guidelines and business practices, and how they may change, see our risk factor titled "Changes in the business practices of the GSEs, federal legislation that changes their charters or a restructuring of the GSEs could reduce our revenues or increase our losses."
Pandemics, hurricanes and other natural disasters may impact our incurred losses, the amount and timing of paid claims, our inventory of notices of default and our Minimum Required Assets under PMIERs.
Pandemics and other natural disasters, such as hurricanes, tornadoes, earthquakes, wildfires and floods, or other events related to changing climatic conditions, could trigger an economic downturn in the affected areas, or in areas with similar risks, which could result in a decline in our business and an increased claim rate on policies in those areas. Natural disasters, rising sea levels and/or fresh water shortages could lead to a decrease in home prices in the affected areas, or in areas with similar risks, which could result in an increase in claim severity on policies in those areas. In addition, the inability of a borrower to obtain hazard and/or flood insurance, or the increased cost of such insurance, could lead to an increase in delinquencies or a decrease in home prices in the affected areas. If we were to attempt to limit our new insurance written in affected areas, lenders may be unwilling to procure insurance from us anywhere.
Pandemics and other natural disasters could also lead to increased reinsurance rates or reduced availability of reinsurance. This may cause us to retain more risk than we otherwise would retain and could negatively affect our compliance with the financial requirements of the PMIERs.
The PMIERs require us to maintain significantly more "Minimum Required Assets" for delinquent loans than for performing loans; however, the increase in Minimum Required Assets is not as great for certain delinquent loans in areas that the Federal Emergency Management Agency has declared major disaster areas and for certain loans whose borrowers have been affected by COVID-19. See our risk factor titled "We may not continue to meet the GSEs' private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility."
In January 2021, the FHFA issued a Request for Input ("RFI") regarding Climate and Natural Disaster Risk Management at the Regulated Entities (i.e., the GSEs and the Federal Home Loan Banks). The FHFA has instructed the GSEs to designate climate change as a priority concern and actively consider its effects in their decision making. It is possible that efforts to manage this risk by the FHFA, GSEs (including through GSE guideline or mortgage insurance policy changes) or others could materially impact the volume and characteristics of our NIW (including its policy terms), home prices in certain areas and defaults by borrowers in certain areas.
Risk Factors Relating to Our Business Generally
The premiums we charge may not be adequate to compensate us for our liabilities for losses and as a result any inadequacy could materially affect our financial condition and results of operations.
When we set our premiums at policy issuance, we have expectations regarding likely performance of the insured risks over the long term. Generally, we cannot cancel mortgage insurance coverage or adjust renewal premiums during the life of a policy. As a result, higher than anticipated claims generally cannot be offset by premium increases on policies in force or mitigated by our non-renewal or cancellation of insurance coverage. Our premiums are subject to approval by state regulatory agencies, which can delay or limit our ability to increase premiums on future policies. In addition, our customized rate plans may delay our ability to increase premiums on future policies covered by such plans. The premiums we charge, the investment income we earn and the amount of reinsurance we carry may not be adequate to compensate us for the risks and costs associated with the insurance coverage provided to customers. An increase in the number or size of claims, compared to what we anticipated when we set the premiums, could adversely affect our results of operations or financial condition. Our premium rates are also based in part on the amount of capital we are required to hold against the insured risk. If the amount of capital we are required to hold increases from the amount we were required to hold when we set the premiums, our returns may be lower than we assumed. For a discussion of the amount of capital we are required to hold, see our risk factor titled "We may not continue to meet the GSEs' private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility."
Competition or changes in our relationships with our customers could reduce our revenues, reduce our premium yields and / or increase our losses.
The private mortgage insurance industry is highly competitive and is expected to remain so. We believe we currently compete with other private mortgage insurers based on premium rates, underwriting requirements, financial strength (including based on credit or financial strength ratings), customer relationships, name recognition, reputation, strength of management teams and field organizations, the ancillary products and services provided to lenders and the effective use of technology and innovation in the delivery and servicing of our mortgage insurance products.
Our relationships with our customers, which may affect the amount of our NIW, could be adversely affected by a variety of factors, including if our premium rates are higher than those of our competitors, our underwriting requirements are more restrictive than those of our competitors, or our customers are dissatisfied with our claims-paying practices (including insurance policy rescissions and claim curtailments).
In recent years, the industry has materially reduced its use of standard rate cards, which were fairly consistent among competitors, and correspondingly increased its use of (i) pricing systems that use a spectrum of filed rates to allow for formulaic, risk-based pricing based on multiple attributes that may be quickly adjusted within certain parameters, and (ii) customized rate plans, both of which typically have rates lower than the standard rate card. Our increased use of reinsurance over the past several years, and the improved credit profile and reduced loss expectations associated with loans insured after 2008, have helped to mitigate the negative effect of declining premium rates on our expected returns. However, refer to our risk factor titled "Reinsurance may not always be available or its cost may increase" for a discussion of the risks associated with the availability of reinsurance, and our risk factors titled "Downturns in the domestic economy or declines in home prices may result in more homeowners defaulting and our losses increasing, with a corresponding decrease in our returns," and "Pandemics, hurricanes and other natural disasters may impact our incurred losses, the amount and timing of paid claims, our inventory of notices of default and our Minimum Required Assets under PMIERs" for a discussion about risks associated with our NIW.
The widespread use of risk-based pricing systems by the private mortgage insurance industry makes it more difficult to compare our rates to those offered by our competitors. We may not be aware of industry rate changes until we observe that our volume of NIW has changed. In addition, business under customized rate plans is awarded by certain customers for only limited periods of time. As a result, our NIW may fluctuate more than it had in the past. Regarding the concentration of our new business, our top ten customers accounted for approximately 33% and 40% in the twelve months ended June 30, 2022 and June 30, 2021, respectively.
We monitor various competitive and economic factors while seeking to balance both profitability and market share considerations in developing our pricing strategies. Premium rates on NIW will change our premium yield (net premiums earned divided by the average insurance in force) over time as older insurance policies run off and new insurance policies with premium rates that are generally lower are written.
Certain of our competitors have access to capital at a lower cost than we do (including, through off-shore intercompany reinsurance vehicles, which have tax advantages that may increase if U.S. corporate income taxes increase). As a result, they may be able to achieve higher after-tax rates of return on their NIW compared to us, which could allow them to leverage reduced premium rates to gain market share, and they may be better positioned to compete outside of traditional mortgage insurance, including by participating in alternative forms of credit enhancement pursued by the GSEs discussed in our risk factor titled "The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance."
Although the current PMIERs of the GSEs do not require an insurer to maintain minimum financial strength ratings, our financial strength ratings can affect us in the ways set forth below. If we are unable to compete effectively in the current or any future markets as a result of the financial strength ratings assigned to our insurance subsidiaries, our future NIW could be negatively affected.
- A downgrade in our financial strength ratings could result in increased scrutiny of our financial condition by the GSEs and/or our customers, potentially resulting in a decrease in the amount of our NIW.
- Our ability to participate in the non-GSE residential mortgage-backed securities market (the size of which has been limited since 2008, but may grow in the future), could depend on our ability to maintain and improve our investment grade ratings for our insurance subsidiaries. We could be competitively disadvantaged with some market participants because the financial strength ratings of our insurance subsidiaries are lower than those of some competitors. MGIC's financial strength rating from A.M. Best is A- (with a stable outlook), from Moody's is A3 (with a stable outlook) and from Standard & Poor's is BBB+ (with a stable outlook).
- Financial strength ratings may also play a greater role if the GSEs no longer operate in their current capacities, for example, due to legislative or regulatory action. In addition, although the PMIERs do not require minimum financial strength ratings, the GSEs consider financial strength ratings to be important when using forms of credit enhancement other than traditional mortgage insurance, as discussed in our risk factor titled "The amount of insurance we write could be adversely affected if lenders and investors select alternatives to private mortgage insurance." The final GSE capital framework provides more capital credit for transactions with higher rated counterparties, as well as those who are diversified. Although we are currently unaware of a direct impact on MGIC, this could potentially become a competitive disadvantage in the future.
Standard & Poor's is considering changes to its rating methodologies for insurers, including mortgage insurers. It is uncertain what impact the changes would have, whether they will prompt similar moves at other rating agencies, or the extent to which they will impact how external parties evaluate the different rating levels.
We are subject to the risk of legal proceedings.
Before paying an insurance claim, generally we review the loan and servicing files to determine the appropriateness of the claim amount. When reviewing the files, we may determine that we have the right to rescind coverage or deny a claim on the loan (both referred to herein as "rescissions"). In addition, our insurance policies generally provide that we can reduce a claim if the servicer did not comply with its obligations under our insurance policy (such reduction referred to as a "curtailment"). In recent years, an immaterial percentage of claims received have been resolved by rescissions. In the first half of 2022 and in 2021, curtailments reduced our average claim paid by approximately 5.3% and 4.4%, respectively. The COVID-19-related foreclosure moratoriums and forbearance plans decreased our claims paid activity beginning in the second quarter of 2020. It is difficult to predict the level of curtailments once foreclosure activity returns to a more typical level. Our loss reserving methodology incorporates our estimates of future rescissions, curtailments, and reversals of rescissions and curtailments. A variance between ultimate actual rescission, curtailment and reversal rates and our estimates, as a result of the outcome of litigation, settlements or other factors, could materially affect our losses.
When the insured disputes our right to rescind coverage or curtail claims, we generally engage in discussions in an attempt to settle the dispute. If we are unable to reach a settlement, the outcome of a dispute ultimately may be determined by legal proceedings. Under ASC 450-20, until a loss associated with settlement discussions or legal proceedings becomes probable and can be reasonably estimated, we consider our claim payment or rescission resolved for financial reporting purposes and do not accrue an estimated loss. When we determine that a loss is probable and can be reasonably estimated, we record our best estimate of our probable loss. In those cases, until settlement negotiations or legal proceedings are concluded (including the receipt of any necessary GSE approvals), it is possible that we will record an additional loss.
We are monitoring litigation that involves refunds of mortgage insurance premiums under the Homeowners Protection Act. In one case, we expect to be be named as a third-party defendant. We are unable to assess the potential impact of any such litigation at this time. In addition, from time to time, we are involved in other disputes and legal proceedings in the ordinary course of business. In our opinion, based on the facts known at this time, the ultimate resolution of these ordinary course disputes and legal proceedings will not have a material adverse effect on our financial position or results of operations.
If our risk management programs are not effective in identifying, or adequate in controlling or mitigating, the risks we face, or if the models used in our businesses are inaccurate, it could have a material adverse impact on our business, results of operations and financial condition.
Our enterprise risk management program, described in "Business - Our Products and Services - Risk Management" in Item 1 of our Annual Report on Form 10-K for the year ended December 31, 2021, may not be effective in identifying, or adequate in controlling or mitigating, the risks we face in our business.
We employ proprietary and third party models to project returns, price products (including through our risk-based pricing system), determine the techniques used to underwrite insurance, estimate reserves, generate projections used to estimate future pre-tax income and to evaluate loss recognition testing, evaluate risk, determine internal capital requirements, perform stress testing, and for other uses. These models rely on estimates and projections that are inherently uncertain and may not operate as intended, especially under less-frequent circumstances such as those surrounding the COVID-19 pandemic, the Russia-Ukraine war, and high levels of inflation, or with respect to emerging risks, such as changing climatic conditions. In addition, from time to time we seek to improve certain models, and the conversion process may result in material changes to certain assumptions, which could impact our expectations about future returns and financial results. The models we employ are complex, which increases our risk of error in their design, implementation or use. Also, the associated input data, assumptions and calculations may not be correct or accurate, and the controls we have in place to mitigate that risk may not be effective in all cases. The risks related to our models may increase when we change assumptions and/or methodologies, or when we add or change modeling platforms. We have enhanced, and we intend to continue to enhance, our modeling capabilities. Moreover, we may use information we receive through enhancements to refine or otherwise change existing assumptions and/or methodologies.
We rely on our management team and our business could be harmed if we are unable to retain qualified personnel or successfully develop and/or recruit their replacements.
Our success depends, in part, on the skills, working relationships and continued services of our management team and other key personnel. The unexpected departure of key personnel could adversely affect the conduct of our business. In such event, we would be required to obtain other personnel to manage and operate our business. In addition, we will be required to replace the knowledge and expertise of our aging workforce as our workers retire. In either case, there can be no assurance that we would be able to develop or recruit suitable replacements for the departing individuals; that replacements could be hired, if necessary, on terms that are favorable to us; or that we can successfully transition such replacements in a timely manner. We currently have not entered into any employment agreements with our officers or key personnel. Volatility or lack of performance in our stock price may affect our ability to retain our key personnel or attract replacements should key personnel depart. Without a properly skilled and experienced workforce, our costs, including productivity costs and costs to replace employees may increase, and this could negatively impact our earnings.
At the onset of the COVID-19 pandemic, the Company transitioned to a virtual workforce model with certain essential activities supported by limited staff in controlled office environments. We are currently operating under a hybrid model, with most employees working in the office for a portion of time. While the employees are in our office, they may be exposed to health risks, which may expose us to potential liability. We have established an interim succession plan for each of our key executives, should an executive be unable to perform his or her duties.
The mix of business we write affects our Minimum Required Assets under the PMIERs, our premium yields and the likelihood of losses occurring.
The Minimum Required Assets under the PMIERs are, in part, a function of the direct risk-in-force and the risk profile of the loans we insure, considering LTV ratio, credit score, vintage, Home Affordable Refinance Program ("HARP") status and delinquency status; and whether the loans were insured under lender-paid mortgage insurance policies or other policies that are not subject to automatic termination consistent with the Homeowners Protection Act requirements for borrower-paid mortgage insurance. Therefore, if our direct risk-in-force increases through increases in NIW, or if our mix of business changes to include loans with higher LTV ratios or lower FICO scores, for example, all other things equal, we will be required to hold more Available Assets in order to maintain GSE eligibility.
The minimum capital required by the risk-based capital framework contained in the exposure draft released by the NAIC in December 2019 would be, in part, a function of certain loan and economic factors, including property location, LTV ratio and credit score, general underwriting quality in the market at the time of loan origination, the age of the loan, and the premium rate we charge. Depending on the provisions of the capital requirements when they are released in final form and become effective, our mix of business may affect the minimum capital we are required to hold under the new framework.
The percentage of our NIW from all single-premium policies was 5.1% in the first half of 2022 and 7.4% in full year 2021, and has ranged from 5.1% in 2022 to 19.0% in 2017. Depending on the actual life of a single premium policy and its premium rate relative to that of a monthly premium policy, a single premium policy may generate more or less premium than a monthly premium policy over its life.
As discussed in our risk factor titled "Reinsurance may not always be available or its cost may increase," we have in place various QSR transactions. Although the transactions reduce our premiums, they have a lesser impact on our overall results, as losses ceded under the transactions reduce our losses incurred and the ceding commissions we receive reduce our underwriting expenses. The effect of the QSR transactions on the various components of pre-tax income will vary from period to period, depending on the level of ceded losses incurred. We also have in place various XOL reinsurance transactions, under which we cede premiums. Under the XOL reinsurance transactions, for the respective reinsurance coverage periods, we retain the first layer of aggregate losses, and the reinsurers provide second layer coverage up to the outstanding reinsurance coverage amount.
In addition to the effect of reinsurance on our premiums, we expect a decline in our premium yield because an increasing percentage of our insurance in force is from recent book years whose premium rates had been trending lower.
Our ability to rescind insurance coverage became more limited for new insurance written beginning in mid-2012, and it became further limited for new insurance written under our revised master policy that became effective March 1, 2020. These limitations may result in higher losses paid than would be the case under our previous master policies. In addition, our rescission rights temporarily have become more limited due to accommodations we made in connection with the COVID-19 pandemic. We waived our rescission rights in certain circumstances where the failure to make payments was associated with a COVID-19 pandemic-related forbearance.
From time to time, in response to market conditions, we change the types of loans that we insure. We also may change our underwriting guidelines, including by agreeing with certain approval recommendations from a GSE automated underwriting system. In the second quarter of 2022, Fannie Mae indicated that as a part of normal operations and prudent risk management, it would update its automated underwriting system's risk and eligibility assessment in response to changing market conditions. That update may yield a reduction in loan case files receiving an "Approve/Eligible" recommendation from such system. We also make exceptions to our underwriting requirements on a loan-by-loan basis and for certain customer programs. Our underwriting requirements are available on our website at http://www.mgic.com/underwriting/index.html.
Even when home prices are stable or rising, mortgages with certain characteristics have higher probabilities of claims. As of June 30, 2022, mortgages with these characteristics in our primary risk in force included mortgages with LTV ratios greater than 95% (15.1%), mortgages with borrowers having FICO scores below 680 (7.3%), including those with borrowers having FICO scores of 620-679 (6.4%), mortgages with limited underwriting, including limited borrower documentation (0.9%), and mortgages with borrowers having DTI ratios greater than 45% (or where no ratio is available) (14.5%), each attribute as determined at the time of loan origination. Loans with more than one of these attributes accounted for 4.4% of our primary risk in force as of June 30, 2022, and 3.3% of our NIW in the first half of 2022 and less than one percent of our NIW in the first half of 2021. When home prices increase, interest rates increase and/or the percentage of our NIW from purchase transactions increases, our NIW on mortgages with higher LTV ratios and higher DTI ratios may increase. Our NIW on mortgages with LTV ratios greater than 95% increased from 10% in the first half of 2021 to 13% in the first half of 2022 and our NIW on mortgages with DTI ratios greater than 45% increased from 13% in the first half of 2021 to 19% in the first half of 2022.
From time to time, we change the processes we use to underwrite loans. For example: we rely on information provided to us by lenders that was obtained from certain of the GSEs' automated appraisal and income verification tools, which may produce results that differ from the results that would have been determined using different methods; we accept GSE appraisal waivers for certain refinance loans, the numbers of which have increased significantly beginning in 2020 and remain elevated; and we accept GSE appraisal flexibilities that allow property valuations in certain transactions to be based on appraisals that do not involve an onsite or interior inspection of the property. Our acceptance of automated GSE appraisal and income verification tools, GSE appraisal waivers and GSE appraisal flexibilities may affect our pricing and risk assessment. We also continue to further automate our underwriting processes and it is possible that our automated processes result in our insuring loans that we would not otherwise have insured under our prior processes.
Approximately 73% of our first half 2022 and 72% of our 2021 NIW was originated under delegated underwriting programs pursuant to which the loan originators had authority on our behalf to underwrite the loans for our mortgage insurance. For loans originated through a delegated underwriting program, we depend on the originators' compliance with our guidelines and rely on the originators' representations that the loans being insured satisfy the underwriting guidelines, eligibility criteria and other requirements. While we have established systems and processes to monitor whether certain aspects of our underwriting guidelines were being followed by the originators, such systems may not ensure that the guidelines were being strictly followed at the time the loans were originated.
The widespread use of risk-based pricing systems by the private mortgage insurance industry (discussed in our risk factor titled "Competition or changes in our relationships with our customers could reduce our revenues, reduce our premium yields and / or increase our losses") makes it more difficult to compare our premium rates to those offered by our competitors. We may not be aware of industry rate changes until we observe that our mix of new insurance written has changed and our mix may fluctuate more as a result.
If state or federal regulations or statutes are changed in ways that ease mortgage lending standards and/or requirements, or if lenders seek ways to replace business in times of lower mortgage originations, it is possible that more mortgage loans could be originated with higher risk characteristics than are currently being originated, such as loans with lower FICO scores and higher DTI ratios. The focus of the new FHFA leadership on increasing homeownership opportunities for borrowers is likely to have this effect. Lenders could pressure mortgage insurers to insure such loans, which are expected to experience higher claim rates. Although we attempt to incorporate these higher expected claim rates into our underwriting and pricing models, there can be no assurance that the premiums earned and the associated investment income will be adequate to compensate for actual losses paid even under our current underwriting requirements.
Our holding company debt obligations materially exceed our holding company cash and investments.
At June 30, 2022, we had approximately $690 million in cash and investments at our holding company and our holding company's long-term debt obligations were $0.9 billion in aggregate principal amount. Annual debt service on the long-term debt obligations outstanding as of June 30, 2022, is approximately $37 million, after giving effect to the redemption of our 5.75% Senior Notes discussed below.
In the first half of 2022, we repurchased $74.9 million in aggregate principal amount of our 9% Convertible Junior Subordinated Debentures, using $102.0 million of holding company resources, eliminating 5.7 million potentially dilutive common shares, reducing annual interest expense by $6.7 million and resulting in a $27.2 million loss on debt extinguishment. In July 2022 we redeemed the remaining $242.3 million outstanding balance of our 5.75% Senior Notes due in 2023, resulting in a $6.8 million loss on debt extinguishment. We may continue to repurchase and/or redeem our debt obligations.
The long-term debt obligations are owed by our holding company, MGIC Investment Corporation, and not its subsidiaries. The payment of dividends from our insurance subsidiaries (primarily MGIC) which, other than investment income and raising capital in the public markets, is the principal source of our holding company cash inflow. Although MGIC holds assets in excess of its minimum statutory capital requirements and its PMIERs financial requirements, the ability of MGIC to pay dividends is restricted by insurance regulation. In general, dividends in excess of prescribed limits are deemed "extraordinary" and may not be paid if disapproved by the OCI. The level of ordinary dividends that may be paid without OCI approval is determined on an annual basis and it is $122 million in 2022, before considering dividends paid in the previous twelve months. A dividend is extraordinary when the proposed dividend amount plus dividends paid in the last twelve months from the dividend payment date exceed the ordinary dividend level. In the six months ended June 30, 2022, MGIC paid $400 million in dividends of cash and investments to the holding company. Future dividend payments from MGIC to the holding company will be determined in consultation with the board of directors, and after considering any updated estimates about our business.
Repurchases of our common stock may be made from time to time on the open market (including through 10b5-1 plans) or through privately negotiated transactions. In the first half of 2022, we repurchased approximately 15.7 million shares, using approximately $222 million of holding company resources. As of June 30, 2022, we had $278 million of authorization remaining to repurchase our common stock through the end of 2023 under a share repurchase program approved by our Board of Directors in October 2021. If any capital contributions to our subsidiaries are required, such contributions would decrease our holding company cash and investments.
Your ownership in our company may be diluted by additional capital that we raise.
As noted above under our risk factor titled "We may not continue to meet the GSEs' private mortgage insurer eligibility requirements and our returns may decrease if we are required to maintain more capital in order to maintain our eligibility," although we are currently in compliance with the requirements of the PMIERs, there can be no assurance that we would not seek to issue additional debt capital or to raise additional equity or equity-linked capital to manage our capital position under the PMIERs or for other purposes. Any future issuance of equity securities may dilute your ownership interest in our company. In addition, the market price of our common stock could decline as a result of sales of a large number of shares or similar securities in the market or the perception that such sales could occur.
The price of our common stock may fluctuate significantly, which may make it difficult for holders to resell common stock when they want or at a price they find attractive.
The market price for our common stock may fluctuate significantly. In addition to the risk factors described herein, the following factors may have an adverse impact on the market price for our common stock: changes in general conditions in the economy, the mortgage insurance industry or the financial markets; announcements by us or our competitors of acquisitions or strategic initiatives; our actual or anticipated quarterly and annual operating results; changes in expectations of future financial performance (including incurred losses on our insurance in force); changes in estimates of securities analysts or rating agencies; actual or anticipated changes in our share repurchase program or dividends; changes in operating performance or market valuation of companies in the mortgage insurance industry; the addition or departure of key personnel; changes in tax law; and adverse press or news announcements affecting us or the industry. In addition, ownership by certain types of investors may affect the market price and trading volume of our common stock. For example, ownership in our common stock by investors such as index funds and exchange-traded funds can affect the stock's price when those investors must purchase or sell our common stock because the investors have experienced significant cash inflows or outflows, the index to which our common stock belongs has been rebalanced, or our common stock is added to and/or removed from an index (due to changes in our market capitalization, for example).
We could be adversely affected if personal information on consumers that we maintain is improperly disclosed, our information technology systems are damaged or their operations are interrupted, or our automated processes do not operate as expected.
As part of our business, we maintain large amounts of personal information of consumers, including on our servers and those of cloud computing services. Federal and state laws designed to promote the protection of such information require businesses that collect or maintain consumer information to adopt information security programs, and to notify individuals, and in some jurisdictions, regulatory authorities, of security breaches involving personally identifiable information.
We are increasingly reliant on the efficient and uninterrupted operation of complex information technology systems. All information technology systems are potentially vulnerable to damage or interruption from a variety of sources, including by third-party cyber attacks, including those involving ransomware. The Company discovers vulnerabilities and experiences malicious attacks and other attempts to gain unauthorized access to its systems on a regular basis. Globally, attacks are expected to continue accelerating in both frequency and sophistication with increasing use by actors of tools and techniques that will hinder the Company's ability to identify, investigate and recover from incidents. Such attacks may also increase as a result of retaliation by Russia in response to actions taken by the U.S. and other countries in connection with Russia's military invasion of Ukraine. In response to the COVID-19 pandemic, the Company transitioned to a primarily virtual workforce model and will likely continue to operate under a hybrid model in the future. Virtual and hybrid workforce models may be more vulnerable to security breaches.
While we have information security policies and systems in place to secure our information technology systems and to prevent unauthorized access to or disclosure of sensitive information, there can be no assurance with respect to our systems and those of our third-party vendors that unauthorized access to the systems or disclosure of the sensitive information, either through the actions of third parties or employees, will not occur. Due to our reliance on information technology systems, including ours and those of our customers and third-party service providers, and to the sensitivity of the information that we maintain, unauthorized access to the systems or disclosure of the information could adversely affect our reputation, severely disrupt our operations, result in a loss of business and expose us to material claims for damages and may require that we provide free credit monitoring services to individuals affected by a security breach.
Should we experience an unauthorized disclosure of information or a cyber attack, including those involving ransomware, some of the costs we incur may not be recoverable through insurance, or legal or other processes, and this may have a material adverse effect on our results of operations.
We are in the process of upgrading certain information systems, and transforming and automating certain business processes, and we continue to enhance our risk-based pricing system and our system for evaluating risk. Certain information systems have been in place for a number of years and it has become increasingly difficult to support their operation. The implementation of technological and business process improvements, as well as their integration with customer and third-party systems when applicable, is complex, expensive and time consuming. If we fail to timely and successfully implement and integrate the new technology systems, if the third party providers to which we are becoming increasingly reliant do not perform as expected, if our legacy systems fail to operate as required, or if the upgraded systems and/or transformed and automated business processes do not operate as expected, it could have a material adverse impact on our business, business prospects and results of operations.
Our success depends, in part, on our ability to manage risks in our investment portfolio.
Our investment portfolio is an important source of revenue and is our primary source of claims paying resources. Although our investment portfolio consists mostly of highly-rated fixed income investments, our investment portfolio is affected by general economic conditions and tax policy, which may adversely affect the markets for credit and interest-rate-sensitive securities, including the extent and timing of investor participation in these markets, the level and volatility of interest rates and credit spreads and, consequently, the value of our fixed income securities. Prevailing market rates have increased for various reasons, including inflationary pressures, which has reduced the fair value of our investment portfolio. The value of our investment portfolio may also be adversely affected by ratings downgrades, increased bankruptcies and credit spreads widening in distressed industries. In addition, the collectability and valuation of our municipal bond portfolio may be adversely affected by budget deficits, and declining tax bases and revenues experienced by state and local municipalities. Our investment portfolio also includes commercial mortgage-backed securities, collateralized loan obligations, and asset-backed securities, which could be adversely affected by declines in real estate valuations, increases in unemployment geopolitical risks and/or financial market disruption, including a heightened collection risk on the underlying loans. As a result of these matters, we may not achieve our investment objectives and a reduction in the market value of our investments could have an adverse effect on our liquidity, financial condition and results of operations.
For the significant portion of our investment portfolio that is held by MGIC, to receive full capital credit under insurance regulatory requirements and under the PMIERs, we generally are limited to investing in investment grade fixed income securities whose yields reflect their lower credit risk profile. Our investment income depends upon the size of the portfolio and its reinvestment at prevailing interest rates. A prolonged period of low investment yields would have an adverse impact on our investment income as would a decrease in the size of the portfolio.
We structure our investment portfolio to satisfy our expected liabilities, including claim payments in our mortgage insurance business. If we underestimate our liabilities or improperly structure our investments to meet these liabilities, we could have unexpected losses resulting from the forced liquidation of fixed income investments before their maturity, which could adversely affect our results of operations.
The Company may be adversely impacted by the transition from LIBOR as a reference rate.
The United Kingdom's Financial Conduct Authority, which regulates LIBOR, announced that after 2021 it would no longer publish one-week and two-month tenor USD LIBOR and that after June 30, 2023, it would no longer publish all other USD LIBOR tenors. Efforts are underway to identify and transition to a set of alternative reference rates. The set of alternative rates includes the Secured Overnight Financing Rate ("SOFR"), which the Federal Reserve Bank of New York began publishing in 2018. Because SOFR is calculated based on different criteria than LIBOR, SOFR and LIBOR may diverge.
While it is not currently possible to determine precisely whether, or to what extent, the replacement of LIBOR would affect us, the implementation of alternative benchmark rates to LIBOR may have an adverse effect on our business, results of operations or financial condition. We have three primary types of transactions that involve financial instruments referencing LIBOR. First, as of June 30, 2022, approximately 6% of the fair value of our investment portfolio consisted of securities referencing LIBOR. Second, as of June 30, 2022, approximately $0.5 billion of our risk in force was on adjustable rate mortgages whose interest is referenced to one-month USD LIBOR. A change in reference rate associated with these loans may affect their principal balance, which may affect our risk-in-force and the amount of Minimum Required Assets we are required to maintain under PMIERs. A change in reference rate may also affect the amount of principal and/or accrued interest we are required to pay in the event of a claim payment. Third, the premiums under most of our 2018-2021 excess-of-loss reinsurance agreements are determined, in part, by the difference between interest payable on the reinsurers' notes which reference one-month USD LIBOR and earnings from a pool of securities receiving interest that may reference LIBOR (in the first half of 2022, our total premiums on such transactions were approximately $18.7 million).
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SOURCE MGIC Investment Corporation | https://www.wibw.com/prnewswire/2022/08/03/mgic-investment-corporation-reports-second-quarter-2022-results/ | 2022-08-03T20:35:48Z |
Russia has imposed a bipartisan travel ban on all 14 members of Georgia’s congressional delegation, including conservative Republican Reps. Jody Hice and Marjorie Taylor Greene. CSPAN screenshot
WASHINGTON — Hundreds of members of Congress and others are permanently banned from visiting Russia in retaliation for passing economic sanctions on the country after it invaded Ukraine in late February.
The list includes nearly 1,000 Americans, including President Joe Biden and Vice President Kamala Harris, along with celebrities such as actor Morgan Freeman, executives such as Microsoft President Brad Smith and government leaders such as Transportation Secretary Pete Buttigieg.
“We emphasize that the hostile actions taken by Washington, which boomerang against the United States itself, will continue to receive a proper rebuff,” the Russian Foreign Ministry said in a statement. “Russian counter-sanctions are forced and aimed at forcing the ruling American regime, which is trying to impose a neo-colonial ‘rules-based world order’ on the rest of the world, to change its behavior, recognizing new geopolitical realities.”
Congress cleared $40 billion in aid to Ukraine earlier this month, the second multibillion-dollar package since the beginning of the war in late February.
Of the 963 people banned, more than 230 are Republican and Democratic members of Congress. Top congressional leaders also made the list, such as House Speaker Nancy Pelosi of California, Senate Majority Leader Chuck Schumer of New York and House Majority Whip Steny Hoyer of Maryland.
The ban covers the entire Georgia congressional delegation, which largely supported a $40 billion aid package earlier in May.
(CNN) -- It's looking like this summer will be a travel season to remember, especially following the Covid-stricken summers of 2020 and 2021. Click for more.
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accounts, the history behind an article. | https://www.albanyherald.com/news/russia-says-nyet-to-any-more-visits-from-members-of-congress/article_b7eb9e98-e0f6-11ec-9fde-6791e76cf775.html | 2022-05-31T16:35:42Z |
Longtime Industry Executive to Play Key Role in Double Digit Growth of Retail Segment
LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- Venbrook Group, LLC ("Venbrook"), one of the largest independent insurance solutions and risk management firms in the U.S., today announced the appointment of Jeff Lang as Executive Vice President, Retail Services.
With three decades of experience and an extensive background in the retail insurance brokerage business, Lang will oversee all aspects of Venbrook's retail segment, including expansion of its property and casualty, employee benefits, student insurance, and government defense divisions, and a special emphasis on growing high net worth personal lines. Lang joins Venbrook from USI Insurance Services and has held positions at Aon, Marsh, Chubb, and others.
"I couldn't be more excited to join Venbrook, the best-kept secret in the business," said Lang. "The company has the structure, resources, and critical mass necessary to be successful while remaining agile and nimble so the best producers can grow without limitations. I am looking forward to working with the entire Venbrook team to expand our retail solutions across the board and recruit hungry, qualified producers looking to join an incredible legacy and build wealth for the future."
"I am delighted that Jeff is joining Venbrook to lead our Retail Services Practice at a time of continued growth for our clients and our firm," said Jason D. Turner, Venbrook founder and CEO. "We already have a strong set of clients across the country and Jeff understands the value of people and relationships. He is an ideal choice to help us continue our growth trajectory. I'm looking forward to working with him for a long time."
Venbrook Group, LLC is a holdings company with subsidiaries engaged in retail broking, wholesale broking, programs, and claims services. Venbrook caters to a national client base across myriad industries with divergent needs. Venbrook's team of experts and industry specialists' partner with their clients to manage their risks, create security, promote growth and add value by delivering best-in-class insurance products and programs.
Venbrook continues to build partnerships to expand its insurance platform while continuing to invest in its infrastructure and talent. Venbrook is headquartered in Los Angeles with various locations across the country. For more information, please visit www.venbrook.com.
CONTACT: Rhonda Turner Gardner at rhonda@housecommunications.com or 408.316.9077
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SOURCE Venbrook Group, LLC | https://www.mysuncoast.com/prnewswire/2022/08/18/venbrook-names-jeff-lang-executive-vice-president-retail-services-practice-leader/ | 2022-08-18T14:18:15Z |
Travel Insurance and Assistance Provider to Exhibit at its First GBTA Conference
RICHMOND, Va., Aug. 12, 2022 /PRNewswire/ -- Allianz Partners USA, a leader in travel insurance and travel assistance, will exhibit at the Global Business Travel Association convention scheduled for August 14 to 17 in San Diego. This is Allianz Partners' first time exhibiting at the annual conference, which is expected to draw thousands of travel industry professionals at its 53rd iteration. The company is attending the event to provide information to attendees on travel protection products that offer travel brands increased customer satisfaction and brand loyalty as well as significant opportunities for ancillary revenue.
Travel protection has become increasingly important to both businesses and their traveling employees as the COVID pandemic has increased attention on the corporate duty of care for travelers as well as the increased trend in "bleisure" travel. A 2021 survey of business travelers and travel managers found that almost a third of business travelers (31 percent) would ask to limit travel if their company does not implement policies or measures to help protect their health and safety and 89 percent say they will add personal vacation time to their business trips over the next 12 months.
Travel protection products* from Allianz Partners can provide protection against financial losses that result from trips that are canceled or interrupted due to a reason covered by the policy, as well as provide coverage for medical emergencies while on your trip. Allianz's 24/7 travel assistance team can help with almost any travel-related problem, including health and safety issues. The company's medical assistance team can help arrange emergency medical transportation if deemed necessary, consult with a traveler's treating medical professional to make sure the patient receives appropriate care, relay updates to family members and more.
"We're thrilled to be exhibiting at the 2022 Global Business Travel Association's annual convention," said Richard Aquino, Vice President and Head of Sales at Allianz Partners USA. "Since the pandemic began in 2020, travel protection has risen to the top of traveler checklists. We look forward to meeting with industry professionals who want to learn more about how we can protect business travelers' trips."
Allianz Partners offers a number of different products to match the needs of travelers, including per trip and annual insurance products. Some products include coverage for rental car damage or theft.
Allianz Partners is located at booth 2050, directly across from the SkyTeam + Delta Partners booth.
About Allianz Partners: In the United States, Allianz Partners USA (AGA Service Company) offers Allianz Travel-branded travel protection plans and serves millions of customers each year. In addition to travel protection, the company offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. AGA Service Company is doing business as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is part of the Allianz Partners group. Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech, high-touch products and solutions that go beyond traditional insurance. Present in over 75 countries, our 19,400 employees speak 70 languages, handle over 58 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world.
Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Products may not include all benefits or covered reasons described here. Benefits, coverage, exclusions, and limits vary by plan and by state. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits and daily maximums. Rental Car Damage Protector does not provide coverage for vehicles driven in Jamaica; other location-based restrictions may apply, see your plan for details. Rental Car Damage Protector provides benefits that may cover loss, damage or theft to the insured's rental car, subject to the plan's terms, conditions and exclusions. It does not provide bodily injury or property damage liability coverage or comply with any financial responsibility laws or laws mandating motor vehicle coverage. Rental Car Damage and Theft Coverage, when purchased as part of an annual plan, is not available to KS, TX, and NY residents. For WA residents, Rental Car Damage and Theft Coverage may not be available in all plans. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan's Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. A+ (Superior) and A (Excellent) are the 2nd and 3rd highest, respectively, of A.M. Best's 13 Financial Strength Ratings. Except as otherwise specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance and Allianz Partners are marks of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance.
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SOURCE Allianz Partners | https://www.wibw.com/prnewswire/2022/08/12/allianz-partners-exhibits-2022-gbta-convention/ | 2022-08-12T14:20:14Z |
SPOKANE, Wash., July 12, 2022 /PRNewswire/ -- Kaspien Holdings Inc. (or the "Company") (NASDAQ: KSPN), a leading e-commerce marketplace growth platform, today announced that it has entered into a securities purchase agreement with a single institutional investor for the issuance and sale of 638,978 shares of its common stock at a purchase price of $3.13 per share (or pre-funded warrant in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, Kaspien Holdings Inc. has also agreed to issue and sell to the investor 1,818,182 shares of common stock at a purchase price of $3.30 per share (or pre-funded warrant in lieu thereof) and warrants to purchase 2,457,160 shares of common stock at an exercise price of $3.13. The warrants will have a 5-year term from the date of issuance. The aggregate gross proceeds to the Company of both offerings are expected to be approximately $8 million. The offerings are expected to close on or about July 14, 2022, subject to the satisfaction of customary closing conditions.
Aegis Capital Corp. is acting as the Exclusive Placement Agent for the Offerings.
Additional details regarding the offering will be available in a Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC").
A shelf registration statement on Form S-3 (File No. 333-252911) relating to the registered direct offering of the securities described above was filed with the Securities and Exchange Commission ("SEC") on February 9, 2021 and was declared effective on March 11, 2021. The offering of the common stock in the registered direct offering is being made only by means of a prospectus supplement and accompanying prospectus that forms a part of the effective registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus will be filed with the SEC and may be obtained, when available, from Aegis Capital Corp., Attention: Syndicate Department, 1345 6th Avenue, 27th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010 or at the SEC's website at http://www.sec.gov.
The offer and sale of the securities in the private placement are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the pre-funded warrants and warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kaspien
Kaspien Holdings Inc. (f/k/a Trans World Entertainment Corporation) (NASDAQ: KSPN) is a leading, global e-commerce accelerator that deploys AI-driven software and end-to-end services to optimize and grow brands on Amazon, Walmart, Target, eBay, and other online marketplaces. Rebranded as Kaspien in 2020, the Company has spent more than a decade developing a marketplace growth platform of proprietary technologies that maximize supply chain resilience, optimize marketing, strengthen brand control, and provide predictive analytics. Serving a variety of brands, distributors, agencies and FBA aggregators, Kaspien accelerates growth by tailoring an extensive suite of seller services to its partners' dynamic e-commerce needs. The Company has a long track record of success, having served over 4,000 brands in 20 countries. Kaspien's mastery of the e-commerce space and commitment to rapid innovation has earned the trust of many leading brands. For more information, visit kaspien.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements in this communication are forward-looking statements. The statements contained herein that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties.
We have used the words "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", and similar terms and phrases, including references to assumptions, in this document to identify forward-looking statements. These forward-looking statements are made based on management's expectations and beliefs concerning future events and are subject to uncertainties and factors that could cause actual results to differ materially from the results expressed in the statements. The following factors are among those that may cause actual results to differ materially from the Company's forward-looking statements: risk of disruption of current plans and operations of Kaspien and the potential difficulties in customer, supplier and employee retention; the outcome of any legal proceedings that may be instituted against the Company; the Company's level of debt and related restrictions and limitations, unexpected costs, charges, expenses, or liabilities; the Company's ability to operate as a going-concern; deteriorating economic conditions and macroeconomic factors; the impact of the COVID-19 pandemic; and other risks described in the Company's filings with the SEC, such as its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.
The reader should keep in mind that any forward-looking statement made by us in this document, or elsewhere, pertains only as of the date on which we make it. New risks and uncertainties come up from time-to-time and it's impossible for us to predict these events or how they may affect us. In light of these risks and uncertainties, you should keep in mind that any forward-looking statements made in this document or elsewhere might not occur.
Company Contact
Ed Sapienza
Chief Financial Officer
509-202-4261
esapienza@kaspien.com
Media Contact
Gateway Group
Ryan Deloney
(949) 574-3860
Ryan@gatewayir.com
Investor Relations Contact
Gateway Investor Relations
Matt Glover and Tom Colton
(949) 574-3860
KSPN@gatewayir.com
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SOURCE Kaspien Holdings Inc. | https://www.kxii.com/prnewswire/2022/07/12/kaspien-holdings-inc-announces-pricing-8-million-registered-direct-private-placement-offerings-priced-at-the-market-under-nasdaq-rules/ | 2022-07-12T15:47:13Z |
Chili’s Restaurant at 3810 S. General Bruce Drive will open late Friday afternoon after a fire was reported at the eatery Thursday afternoon.
The restaurant was inspected by the Bell County Public Health District Friday morning, prior to the planned 4 p.m. reopening.
The fire was dispatched at 4:24 p.m. and the first Temple Fire & Rescue unit arrived four minutes later to find smoke and flames coming from the north side of the building. All patrons and staff were evacuated prior to firefighters’ arrival.
No patrons or fire personnel were injured.
The fire was reported under control at 4:50 p.m. Temple fire investigators ruled the cause of the fire as the improper discarding of smoking materials. | https://www.tdtnews.com/news/central_texas_news/article_393a6f6c-feff-11ec-9627-b3523d0caac8.html | 2022-07-08T22:18:19Z |
Brake innovator to showcase new product line, debut Stellar Performance Award at renowned vintage racing event
SANTA ROSA, Calif., Aug. 2, 2022 /PRNewswire/ -- Orbis Brakes is launching its innovative line of Periodic Wave™ disc brakes in a dramatic way, serving as the Preferred Brake of the 2022 Rolex Monterey Motorsports Reunion August 17- 20 at WeatherTech Raceway Laguna Seca.
This year's Rolex Reunion will curate the largest exhibition of winning or historically significant Le Mans cars ever assembled for display and exhibition laps. It is one of only two events worldwide to feature cars currently in private collections or museums returned to racetrack performance. The four-day event is a featured attraction of Monterey Car Week.
The Rolex Monterey Motorsports Reunion represents the first event sponsorship for Orbis Brakes, the Northern California company that is making news through a partnership with NASA that produced the Periodic Wave™ disc brake, a proprietary design that uses advanced aerodynamics to provide superior surface cooling, reduce dangerous brake fade, and extend vehicle range and fuel efficiency. Orbis Brakes has also attracted attention with its potential to lower environmental impact. Weighing 50% less on average than conventional cast iron brakes, Orbis Brakes are expected to lower carbon consumption across the supply chain, while reducing harmful brown emissions.
Attendees at Laguna Seca will be given a first look at Orbis brake designs, including the NextWave™ and FutureWave™ models engineered to bridge the full brake spectrum.
Orbis will also use the Monterey spotlight to present the first ever Stellar Performance in Braking Award, an honor bestowed to drivers exhibiting superior braking maneuvers on the racetrack. The first award will be given to Alex Zanardi in honor of his last lap pass of Bryan Herta in the final race of the 1996 PPG Indy Car World Series at the same Laguna Seca raceway, still considered one of the greatest passes in the history of motorsports. Another Stellar Performance Award will be awarded to one of this year's Rolex Reunion competitors as determined by a panel of judges. The Stellar Performance in Braking will become an ongoing award from Orbis, using in-car footage submitted by drivers and teams.
Orbis Brakes will host a Pre-Award Ceremony, Trophy Display & Moet Champagne Toast prior to its presentation of the Stellar Performance in Braking Award on Saturday, August 20th, 4:45 to 5:45 at the Orbis Brakes Booth located in the paddock across from the Le Mans Heritage display.
MotorTrend
https://www.motortrend.com/news/nasa-orbis-high-performance-brakes-tesla-model-s-plaid/
GearJunkie
https://gearjunkie.com/motors/orbis-brakes
Invest in Orbis Brakes on StartEngine
https://www.startengine.com/orbis-brakes/
Media Contact:
Chance Claxton
Phone: 415.310.8780
Email: chance@orbisbrakes.com
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SOURCE Orbis Brakes Inc. | https://www.mysuncoast.com/prnewswire/2022/08/02/orbis-brakes-launches-historic-fashion-preferred-brake-rolex-monterey-motorsports-reunion/ | 2022-08-02T17:21:26Z |
LONDON (AP) — The tame back pass from John Stones trickled toward Zack Steffen. Just a simple clearance was needed by Manchester City’s backup goalkeeper with Liverpool already leading.
One touch controlled the pass. The second touch was … doing what? The dawdling American just took too long.
Before the ball could be hoofed clear, Sadio Mane raced into the penalty area and slid in to nudge the ball over the line.
“It is an accident,” City manager Pep Guardiola said. “It happens.”
Liverpool moved into a two-goal lead — building on Ibrahima Konate’s header — and Mane scored again before halftime with a volley beating Steffen at his near post. A 3-2 victory was secured at Wembley Stadium on Saturday after withstanding a City comeback with Jack Grealish scoring two minutes into the second half and Bernardo Silva netting in stoppage time.
Liverpool is into its first FA Cup final in 10 years, and Chelsea or Crystal Palace await next month.
The quadruple is still on also for Liverpool.
But there’s only two paths to trophies for City, and Liverpool could thwart both.
Their tussle for the English Premier League trophy is far tighter than this FA Cup semifinal suggested, where Liverpool’s superiority was clear in the first half before goals from Jack Grealish and Bernardo Silva gave hope of a City comeback.
Their 2-2 draw last Sunday in the league prevented Liverpool from moving into first place, and left City a point in front.
There could yet be a fourth instalment of this rivalry this season in Paris next month if they win semifinals to reach the Champions League final. That would see Liverpool contest three finals in 2022 having already won the League Cup at Wembley.
The strain on the squads meant Liverpool and City made seven changes from their Champions League quarterfinal wins in midweek, and Jürgen Klopp’s side had the greater depth to prevail in the heat of London.
“We started very well, we pressed them high and the goalkeeper made the mistake,” Mane said. “The performance of the team was fantastic.”
CHAMPIONS LEAGUE CHASE
City and Liverpool look sure to qualify for the Champions League again. The rest of the Premier League’s top four is more up for grabs, with Manchester United’s pursuit helped by Tottenham and Arsenal losing.
Cristiano Ronaldo’s hat trick secured a 3-2 victory over Norwich after the last-placed team fought back from two goals down. United moved above Arsenal and into fifth place.
Tottenham is still fourth but only three points ahead of United after Leandro Trossard’s goal in the 90th minute gave Brighton a 1-0 win in north London.
Arsenal is on the slide. A fourth loss in five games was inflicted by Southampton with Jan Bednarek sealing a 1-0 win.
PREMIER LEAGUE RELEGATION
Watford slipped closer to relegation after losing 2-1 to Brentford, which moved into 11th place in its first Premier League campaign. Pontus Jansson scored the winner in the fifth minute of stoppage time.
___
More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports | https://cw33.com/sports/ap-sports/steffen-blunder-helps-quad-chasing-liverpool-reach-cup-final/ | 2022-04-17T15:17:19Z |
Judge says California law mandating women on corporate boards is unconstitutional
LOS ANGELES (AP) — A Los Angeles judge has ruled that California’s landmark law requiring women on corporate boards is unconstitutional.
Superior Court Judge Maureen Duffy-Lewis said the law that would have required boards have up to three female directors by this year violated the right to equal treatment. The ruling was dated Friday.
The conservative legal group Judicial Watch had challenged the law, claiming it was illegal to use taxpayer funds to enforce a law that violates the equal protection clause of the California Constitution by mandating a gender-based quota.
The law was on shaky ground from the get-go with a legislative analysis saying it could be difficult to defend and then-Gov. Jerry Brown saying he was signing it despite the potential for it to be overturned by a court. Brown said he signed the bill to send a message during the #MeToo era.
In the three years it has been on the books, it’s been credited with improving the standing of women in corporate boardrooms.
The state defended the law as constitutional saying it was necessary to reverse a culture of discrimination that favored men and was put in place only after other measures failed. The state also said the law didn’t create a quota because boards could add seats for female directors without stripping men of their positions.
Although the law carried potential hefty penalties for failing to file an annual report or comply with the law, a chief in the secretary of state’s office acknowledged during the trial that it was toothless.
No fines have ever been levied and there was no intention to do so, Betsy Bogart testified. Further, a letter that surfaced during trial from former Secretary of State Alex Padilla warned Brown weeks before he signed the law that it was probably unenforceable.
“Any attempt by the secretary of state to collect or enforce the fine would likely exceed its authority,” Padilla wrote.
The law required publicly held companies headquartered in California to have one member who identifies as a woman on their boards of directors by the end of 2019. By January 2022, boards with five directors were required to have two women and boards with six or more members were required to have three women.
Copyright 2022 The Associated Press. All rights reserved. | https://www.kxii.com/2022/05/16/judge-says-california-law-mandating-women-corporate-boards-is-unconstitutional/ | 2022-05-16T17:44:51Z |
BIRMINGHAM, Ala., May 13, 2022 /PRNewswire/ -- Encompass Health Corp. (NYSE: EHC) today announced it plans to build a freestanding, 60-bed inpatient rehabilitation hospital in Houston, Texas. The hospital will be located at 3000 Yellowstone Boulevard.
Complementing local acute care services, the future hospital will serve patients recovering from debilitating illnesses and injuries, including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. In addition to 24–hour nursing care, this hospital will offer physical, occupational and speech therapies to restore functional ability and quality of life. Care will be provided by highly specialized nurses, therapists and physicians.
The hospital will feature all private patient rooms, a spacious therapy gym with advanced rehabilitation technologies and an activities of daily living suite, cafeteria, dining room, pharmacy and therapy courtyard.
"We are excited to expand and grow our rehabilitation services in Houston, Texas," said Frank Brown, president of Encompass Health's Southwest region. "Through the new inpatient rehabilitation hospital, we will provide our patients with coordinated and connected care that meets them where they are in their healthcare journeys and makes a positive difference in their lives."
The planned hospital, once opened, will become part of Encompass Health's national network of inpatient rehabilitation hospitals and home health and hospice agencies. The Company's Texas footprint includes 26 inpatient rehabilitation hospitals; a future hospital in Amarillo, Texas; one hospital under construction in Prosper, Texas; 51 home health locations; and 15 hospice locations.
About Encompass Health
As a national leader in integrated healthcare services, Encompass Health (NYSE: EHC) offers both facility–based and home–based patient care through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. With a national footprint that includes 148 hospitals, 252 home health locations, and 99 hospice locations in 42 states and Puerto Rico, the Company provides high–quality, cost-effective integrated healthcare. Encompass Health is ranked as one of Fortune's 100 Best Companies to Work For. For more information, visit encompasshealth.com, or follow us on our newsroom, Twitter, Instagram and Facebook.
Forward-Looking Statements
Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the completion of this hospital project, are forward-looking statements. In addition, Encompass Health may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and Encompass Health undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Encompass Health's actual results or events may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results or events to differ materially from those anticipated include, but are not limited to, the regulatory review and approval process, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against the Company; the possibility this project will experience unexpected delays; the ability to successfully complete this project consistent with Encompass Health's growth strategy, including realization of anticipated revenues and avoidance of unforeseen exposure to liabilities; the continued spread of COVID-19, including the speed, depth, geographic reach and duration of the spread; the actions to be taken by Encompass Health in response to the COVID-19 pandemic; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and Encompass Health's response thereto; the hospital's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of Encompass Health's information systems; Encompass Health's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on Encompass Health's labor expenses from potential union activity and staffing shortages; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for Encompass Health's services by governmental or private payors; general conditions in the economy and capital markets; and other factors which may be identified from time to time in Encompass Health's SEC filings and other public announcements, including Encompass Health's Form 10-K for the year ended Dec. 31, 2021 and Form 10-Q for the quarter ended March 31, 2022.
Media contact:
Erin Wendel-Ritter | 205-970-5912
erin.wendel-ritter@encompasshealth.com
Investor Relations contact:
Mark Miller | 205-970-5860
mark.miller@encompasshealth.com
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SOURCE Encompass Health Corp. | https://www.mysuncoast.com/prnewswire/2022/05/13/encompass-health-announces-plans-build-60-bed-inpatient-rehabilitation-hospital-houston-texas/ | 2022-05-13T14:17:19Z |
All-private SpaceX astronaut mission to attempt return trip from ISS after week of delays
By Jackie Wattles, CNN Business
The first all-private mission to the International Space Station is due to begin its return trip Sunday evening after a string of delays dragged the mission out for a week longer than expected because of weather and other inopportune circumstances.
The mission, called AX-1, was brokered by the Houston, Texas-based startup Axiom Space, which books rocket rides, provides all the necessary training, and coordinates flights to the ISS for anyone who can afford it.
The four crew members — Michael López-Alegría, a former NASA astronaut-turned-Axiom employee who is commanding the mission; Israeli businessman Eytan Stibbe; Canadian investor Mark Pathy; and Ohio-based real estate magnate Larry Connor — are slated to leave the space station aboard their SpaceX Crew Dragon capsule on Sunday at 8:55 pm ET. Strapped into their spacecraft, the hatch, which keeps an airtight seal intact on the space station after a vehicle departs, was closed just before 7:30 pm ET.
They plan to spend a day free flying through orbit before plummeting back into the atmosphere and parachuting to a splashdown landing off the coast of Florida at about 1 pm ET Monday, according to a tweet from Kathy Lueders, the head of NASA’s human spaceflight program.
AX-1, which launched on April 8, was originally billed as a 10-day mission, but delays have extended the mission by about a week.
During their first 12 days on the space station, the group stuck to a regimented schedule, which included about 14 hours per day of activities, including scientific research that was designed by various research hospitals, universities, tech companies and more. They also spent time doing outreach events by video conferencing with children and students.
The weather delays then afforded to them “a bit more time to absorb the remarkable views of the blue planet and review the vast amount of work that was successfully completed during the mission,” according to Axiom.
It’s not clear how much this mission cost. Axiom previously disclosed a price of $55 million per seat for a 10-day trip to the ISS, but the company declined to comment on the financial terms for this specific mission beyond saying in a press conference last year that the price is in the “tens of millions.”
The mission has been made possible by very close coordination among Axiom, SpaceX and NASA, since the ISS is government-funded and operated. And the space agency has revealed some details about how much it charges for use of its 20-year-old orbiting laboratory.
For each mission, bringing on the necessary support from NASA astronauts will cost commercial customers $5.2 million, and all the mission support and planning that NASA lends is another $4.8 million. While in space, food alone costs an estimated $2,000 per day, per person. Getting provisions to and from the space station for a commercial crew is another $88,000 to $164,000 per person, per day.
But the extra days the AX-1 crew spent in space due to weather won’t add to their own personal overall price tag, according to a statement from NASA.
“Knowing that International Space Station mission objectives like the recently conducted Russian spacewalk or weather challenges could result in a delayed undock, NASA negotiated the contract with a strategy that does not require reimbursement for additional undock delays,” the statement reads.
It’s not the first time paying customers or otherwise non-astronauts have visited the ISS, as Russia has sold seats on its Soyuz spacecraft to various wealthy thrill seekers in years past.
But AX-1 is the first mission with a crew entirely comprised of private citizens with no active members of a government astronaut corps accompanying them in the capsule during the trip to and from the ISS. It’s also the first time private citizens have traveled to the ISS on a US-made spacecraft.
The mission has set off yet another round of debate about whether people who pay their way to space should be referred to as “astronauts,” though it should be noted a trip to the ISS requires a far larger investment of both time and money than taking a brief suborbital ride on a rocket built by companies like Blue Origin or Virgin Galactic.
López-Alegría, a veteran of four trips to space between 1995 and 2007 during his time with NASA, had this to say about it: “This mission is very different from what you may have heard of in some of the recent — especially suborbital — missions. We are not space tourists. I think there’s an important role for space tourism, but it is not what Axiom is about.”
Though the paying customers will not receive astronaut wings from the US government, they were presented with the “Universal Astronaut Insignia” — a gold pin recently designed by the Association of Space Explorers, an international group comprised of astronauts from 38 countries. López-Alegría presented Stibbe, Pathy and Connor with their pins during a welcome ceremony after the group arrived at the space station.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://localnews8.com/money/cnn-social-media-technology/2022/04/24/all-private-spacex-astronaut-mission-to-attempt-return-trip-from-iss-after-week-of-delays/ | 2022-04-25T00:28:38Z |
New leaders aim to elevate innovation in audience targeting solutions
NEW YORK, June 23, 2022 /PRNewswire/ -- Dstillery, the custom audience solutions company, is taking steps to drive growth by promoting two integral team members. Amelia White, Ph.D., will assume the role of Vice President of Data Science Research, and Patti Boyle, Ed.D., will serve as Chief Marketing Officer. The promotions strengthen the company's ability to improve its artificial-intelligence-powered advertising solutions and win the cookieless future.
White joined Dstillery as a data scientist in 2015 and began leading the Data Science Research team in 2018. To date, White has invented two of Dstillery's 16 patented technologies. She created Dstillery's cookieless solution, ID-free Custom AI™, and is the lead inventor on the patent describing this approach. She also developed Dstillery's Map of the Internet (MOTI), a foundational technology powering ID-free and other Dstillery products.
"Amelia brings innovative and impactful machine learning solutions through her research and leadership," said Melinda Han Williams, Ph.D., Chief Data Scientist at Dstillery. "She has developed countless improvements to Dstillery's products and supervised the development of countless more. Amelia keeps Dstillery's solutions on the cutting edge of applied machine learning."
Boyle has been a strategic marketing leader at Dstillery since 2019, most recently as Head of Marketing. Responsible for advancing brand positioning, digital marketing and lead generation, she drives results by developing and executing growth plans, fostering client and partner relationships and overseeing integrated marketing programs. Boyle built a marketing team from the ground up, created a new marketing strategy and managed a brand refresh. She has raised the brand profile, ramped up qualified leads built on account-based marketing and a focused paid media strategy and enhanced the company's thought leadership through a purposeful PR, event and content marketing program.
"Since the start of her time with Dstillery, Patti has positioned the company for success," said Michael Beebe, Dstillery CEO. "She has hired a stellar team, and together that team reconstituted the company's marketing around a clear strategy that supports our mission. Patti is a maximizer, a strategist, a learner and an achiever. In the role as CMO, her inspired and inspiring leadership will take our marketing to the next level."
In addition to Boyle and White's recent promotions, Dstillery continues improving its ID-free Custom AI solution.
"These ID-free targeting solutions allow advertisers to respect consumers' privacy while also delivering campaign results," said Beebe. "The promotions of Amelia and Patti strengthen our position and set us up for greater innovation as agencies and advertisers prepare for the sunsetting of third-party cookies."
For more information about Dstillery, please visit https://dstillery.com.
About Dstillery
Dstillery, the custom audience solutions company, empowers brands and agencies to reach their best customers across the programmatic web. Backed by our award-winning data science, Dstillery has earned 16 patents for the AI technology that powers our precise, scalable solutions. Our newest innovation, ID-free Custom AI, is a privacy-by-design behavioral targeting solution that performs on par with cookies — without user tracking. Our ID-based premier product, Custom AI Audiences, is a just-for-your-brand targeting solution that continuously scores hundreds of millions of users to deliver the best audiences for your brand. To learn more, visit us at www.dstillery.com or follow us on LinkedIn.
Media Contact
Raven Carpenter
BLASTmedia for Dstillery
dstillery@blastmedia.com
317-806-1900 ext. 171
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SOURCE Dstillery | https://www.kxii.com/prnewswire/2022/06/23/dstillery-accelerates-growth-with-two-key-executive-promotions/ | 2022-06-23T13:08:25Z |
Wild Adventures Theme Park invites families to stay later and ride longer this summer during Sweet Summer Nights with activities and specials throughout the park.
VALDOSTA — Wild Adventures Theme Park here invites families to stay later and ride longer this summer during Sweet Summer Nights with activities and specials throughout the park. Every Friday night in June and July, guests can enjoy extended hours, family friendly entertainment and specially priced snacks. Guests can also experience fireworks every Friday night in July.
“Fridays this summer, families can slide, splash and stay longer, making Wild Adventures and Splash Island the hottest place to cool down and celebrate,” Adam Floyd, senior marketing and sales manager for Wild Adventures, said in a news release. “With the addition of fireworks on Friday nights in July, there is no better place for families to create summer memories.”
Starting in June, Wild Adventures Theme Park will be open until 9 p.m. on Fridays for guests to enjoy more time on rollercoasters, thrill rides and in Splash Island Water Park. Guests can sit back and relax at Water’s Edge Brews & Bites with live music and outdoor games like cornhole or head to Splash Island to party the night away with a live DJ, limbo contest and more.
Sweet Summer Nights gets even sweeter with a two dollar snack menu from dusk to closing, including cotton candy, ice cream, pizza, Icee’s and Dippin’ Dots at select locations.
Families can enjoy Sweet Summer Nights and unlimited visits to Wild Adventures Theme Park and Splash Island Water Park all season with a 2022 season pass, starting at $99.99 plus tax. Daily admission is also available for as low as $44.99 plus tax online at WildAdventures.com.
Wild Adventures Theme Park is located at the halfway point between Atlanta and Orlando, Fla., off Interstate 75 and is home to more than 40 family and thrill rides, hundreds of exotic animals, dozens of concerts and special events each year and Splash Island Waterpark, named one of the “Top 30 Waterparks” in the country by U.S. News and World Report. Wild Adventures is ranked as one of the most affordable theme parks in America by Travel + Leisure, one of the Top 10 Most Affordable Water and Theme Parks in the U.S. by AOL.com and the Top Theme Park Deal in Georgia by Yahoo! Finance.
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accounts, the history behind an article. | https://www.albanyherald.com/entertainment/sweet-summer-nights-coming-to-wild-adventures/article_300f7a28-e20c-11ec-b4d7-afbc614ce5fa.html | 2022-06-04T13:46:27Z |
ORANGE, Calif., Sept. 13, 2022 /PRNewswire/ -- Inventor and Entrepreneur Ross Markbreiter, creator of Such companies as, The World Wide Web Store, TechPay Mobile Payment Systems Has Invented the Pulse Secure Doorbell.
With it Looking like Covid is here to stay! The World's First Covid Doorbell-Patent Pending is here.
A pulse secure doorbell system uses temperature and biometric readings from a person to determine their identity and their health status in order to allow entry through a door. A person presses their finger against a scanner that takes their print and their pulse. A camera measures the face, face recognition, Microphone and system software checks voice recognition, A thermometer infrared beam measures their temperature. These metrics combine to provide a profile of the person prior to entry.
The system and method of use in accordance with the invention overcomes one or more of the above-discussed problems commonly associated with conventional security systems. Specifically, the present invention enables the verification of the identity and health status of a person who seeks entry to a secure area. Additionally, the invention of the disclosure enables the verification of a person and protects the individual who performs the verification from contamination if a disease is present. These and other unique features of the system and method of use are discussed below and illustrated in the accompanying drawings.
The present invention relates generally to security systems and methods, and more specifically, to a pulse secure doorbell system that screens people that seek entrance through a doorway to ensure their identity and health status. The pulse, temperature, and other aspects of the health of the applicant are checked unobtrusively through a camera, Microphone and touch surface.
Security systems are well known in the art and are effective means to ensure the safety of people and property against malicious threats or innocuous occurrences. Common security systems access control to secure spaces that are created through the use of door locks to biometric identification. An example of a common entry security system is the common smart doorbell that uses a camera to see who is there or a standard doorbell.
A person will activate the bell which emits a sound (with a conventional doorbell) and gives access to view (with a smart doorbell) who is at the door. within a secure space such as a home or office so that a person who is authorized to grant entry to the space approaches the door to verify the person for entry. If access is granted the person is allowed to enter, if they are not granted access, the door is closed and could be locked to ensure that the space remains secure after the rejection.
One of the problems associated with common security systems is their limited use. For example, when a person's identity is verified through visual inspection by another person, they do not have the capability to determine the health status of the applicant and might allow an unhealthy person into the secure space and expose of people there to the illness carried by the person who entered Additionally, the person who verifies the identity of the person who requested access must expose themselves to any illness that the person carries.
Pulse secure doorbell overcomes one or more of the above-discussed problems commonly associated with conventional security systems. Specifically, the present invention enables the verification of the identity and health status of a person who seeks entry to a secure area. Additionally, the invention of the disclosure enables the verification of a person and protects the individual who performs the verification from contamination if a disease is present. These and other unique features of the system and method of use.
A pulse secure doorbell system uses temperature and biometric readings from a person to determine their identity and their health status in order to allow entry through a door. A person presses their finger against a scanner that takes their print and their pulse. A camera measures the face, microphone their voice, An Infrared thermometer beam measures their temperature. These metrics combine to provide a complete profile of the person prior to entry.
Media Contact: Ross Markbreiter, ross@pulsesecuredoorbell.com
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SOURCE Pulse Security Systems | https://www.kxii.com/prnewswire/2022/09/13/pulse-security-systems-announces-invention-worlds-first-patent-pending-covid-doorbell/ | 2022-09-13T15:46:42Z |
DALLAS, May 19, 2022 /PRNewswire/ -- Taco Bueno expands again in Texas by adding a new location at 310 This Way, Lake Jackson, TX 77566. This new restaurant emphasizes the brand's fresh and high quality Tex-Mex with its bold colors.
In addition to bright colors, energy-efficient led lighting, and authentic décor, there is also colorful accent lighting and high-top bar seating so guests can use laptops and tablets. Digital menu boards and promotional signage are also featured. The contemporary Tex-Mex flavors, ingredients, and items offered by modernized restaurants and frequent menu changes will continue to drive growth in 2022.
Guillermo Perales, a Dallas restaurant franchise owner (Sun Holdings, Inc.), purchased Taco Bueno in 2019. The company was founded in 1967 in Abilene, Texas and now operates over 145 locations throughout Texas, Oklahoma, and Arkansas. Mr. Perales expects that Taco Bueno will continue to grow and gain momentum with over twenty new locations opening within the next year, marking a milestone in the brand's history as it celebrates 55 years later this year. "While other chains in the category are looking to cut food cost with processed foods, we've stayed true to our roots by crafting authentic recipes in each of our kitchens. We do things the Bueno way, and you're sure to taste the difference" stated Mr. Perales. "Taco Bueno is reinvesting in exciting new limited time offers with top-grade proteins, such as fresh-never-frozen ground beef, grilled chicken and brisket, as well as salsas, guacamole, and beans made fresh, from scratch, in house daily" continued Perales.
Iconic menu items like the Muchaco®, which is a taco in a soft pita-like shell, is among Taco Bueno's most popular choices. Additionally, Taco Bueno offers a variety of "Big Freakin®" options, which are top selling favorites, but twice their size.
About Sun Holdings
Sun Holdings, Inc. was founded in 1997 by Guillermo Perales, funded by an SBA loan. Sun's portfolio is ranked as the second-largest franchisee group in the U.S. by Mega 99 in its 2021 Rankings. Mr. Perales has developed a portfolio of companies that own and operate more than 1,300 locations in 12 states, creating more than 28,000 jobs. He has also overseen the development across different brands of over 200 new stores and completed 200 store remodels in the last three years. Today, his companies own and operate Taco Bueno and also operate Burger King, Popeyes, Arby's, Applebee's, T-Mobile, McAlister's, IHOP, GNC and several airport restaurant locations. Mr. Perales' organization has been awarded the MUFSO Golden Chain Award and Nation's Restaurant News' Top 10 Power List. He has also been named Ernst & Young's Entrepreneur of the Year, IFA's Entrepreneur of the Year, Dealmaker of the Year and Latino Executive of the Year by D CEO Magazine and Nation's Restaurant News' Most Influential CEO for 2021, as well as appearing on Latino Leaders Magazine's 101 Most Influential Latinos for several consecutive years.
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SOURCE Taco Bueno | https://www.kxii.com/prnewswire/2022/05/19/taco-bueno-opens-lake-jackson-tx/ | 2022-05-19T20:14:24Z |
PITTSBURGH, May 2, 2022 /PRNewswire/ -- "I wanted to create a thorough and convenient way to sterilize doorknobs and handles for optimum protection against germs and viruses," said an inventor, from Hampton, Va., "so I invented the SMART DISINFECTOR. My design would enhance safety and sanitation, particularly during the COVID-19 pandemic."
The patent-pending invention provides an automatic way to sanitize doorknobs, handles, buttons, and other surfaces. In doing so, it offers an alternative to manually spraying and wiping doorknobs and handles. As a result, it helps to reduce the spread of germs and viruses and it saves time and effort. The invention features an effective design that is easy to install and use so it is ideal for households, businesses and other commercial establishments. Additionally, it is producible in design variations.
The original design was submitted to the Richmond sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 20-RKH-191, InventHelp, 217 Ninth Street, Pittsburgh, PA 15222, or call (412) 288-1300 ext. 1368. Learn more about InventHelp's Invention Submission Services at http://www.InventHelp.com.
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SOURCE InventHelp | https://www.mysuncoast.com/prnewswire/2022/05/02/inventhelp-inventor-develops-sanitizing-device-doorknobs-handles-buttons-other-surfaces-rkh-191/ | 2022-05-02T17:24:35Z |
TOKYO (AP) — Japan’s health ministry on Tuesday formally approved Novavax’s COVID-19 vaccine, a fourth foreign-developed tool to combat the infections as the country sees signs of a resurgence led by a subvariant of fast-spreading omicron.
The ministry approval comes the day after its experts panel endorsed use of Novavax’s protein vaccine, which is designed with similar technology used to fight diseases such as the flu and hepatitis B, for the first two shots and a booster.
Health Minister Shigeyuki Goto told reporters that Novavax product adds variety to the choices available and could appeal to those who are hesitant to use COVID-19 vaccines such as Pfizer’s and Moderna’s, which are designed with newer technologies.
Jabs using Novavax vaccine are expected to start as early as late May.
Japan reported 24,164 new cases Monday, according to the health ministry. Japan in March lifted all COVID-19 restrictions as the infections slowed significantly, but experts noted signs of a resurgence in a number of prefectures during a season of traveling and parties for people marking graduation and the start of the academic and business year.
The government is trying to expand businesses and get the pandemic-hit economy back on track. Japan is slowly easing the border controls following sharp criticisms for its longtime restrictions on non-resident foreign students, scholars and business people, but Prime Minister Fumio Kishida has said Japan is not considering restarting inbound tourism anytime soon.
Booster shots have been slow in Japan and less than 50% of the population had received booster shots of mainly mRNA vaccines from Pfizer and Moderna. A third vaccine, AstraZeneca, is hardly used due to public concern about reports of rare blood clotting and is largely donated to vaccine-scarce Asian countries bilaterally or through a United Nations-backed program. About 80% of the Japanese elderly population had received three shots.
Goto said Japan has agreed to purchase 150 million doses of the Novavax shots developed by the Maryland company, which will help stabilize vaccine supply in a country that fully relies on foreign imports while development of its own vaccines have fallen behind. Novavax’s distributor in Japan, Takeda Pharmaceutical Co., is to locally manufacture 250 million doses annually. | https://cw33.com/health/ap-health/japan-approves-novavax-covid-19-vaccine/ | 2022-04-19T16:16:31Z |
Experts concerned about monkeypox as kids head back to school
(CNN) - Cases of monkeypox continue to climb across the country, and now experts are concerned over the virus in schools.
”Monkeypox transmits when people are in close personal contact and kids in small classrooms, particularly with bad ventilation which many classrooms are, are at risk,” associate professor of medicine at Yale University School of Medicine Dr. F. Perry Wilson said.
The Centers for Disease Control and Prevention says monkeypox is spread through close, personal, often skin-to-skin contact, including direct physical touch with rashes, scabs or bodily fluids from someone who is infected. It is also spread through mucus and by touching objects or fabrics that someone with the virus has used.
Health experts say schools, districts, colleges and universities should make plans now about what to do about monkeypox and keep cleanliness a top priority.
”Chairs and desks need to be cleaned. I don’t see how you’re going to prevent kids from touching each other, so that is a big question. I, unfortunately, don’t have an answer,” viral researcher Dr. Jorge Rodriguez said.
The CDC says scientists are still studying if the virus can be spread when someone has no symptoms, how often the virus is spread through respiratory droplets or if a person with monkeypox symptoms might be more likely to spread the virus that way.
They are also looking into whether the virus spreads through things like urine or feces.
To prevent yourself from catching monkeypox, avoid close skin-to-skin contact with people who have a rash that looks like monkeypox, avoid touching objects that a person with monkeypox has used, and wash your hands often with soap and water or use an alcohol-based hand sanitizer.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.mysuncoast.com/2022/08/03/experts-concerned-about-monkeypox-kids-head-back-school/ | 2022-08-03T19:09:50Z |
- Expands BD Transformative Solutions to Provide New Pharmacy Automation Technologies for Hospitals, Retail Pharmacy, Long-Term Care and Home Settings
- Advances BD 2025 Strategy to Accelerate Innovation in Smart, Connected Care and Enable New Care Settings
- Expected to be Immediately Accretive to Revenue Growth, Adjusted Operating Margins and Adjusted EPS; Enhances Ability to Achieve Long-Range Sales and Earnings Growth Profile
FRANKLIN LAKES, N.J. and DURHAM, N.C., June 6, 2022 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, and Frazier Healthcare Partners, a leading private equity firm focused exclusively on the health care sector, today announced a definitive agreement for BD to acquire Parata Systems, an innovative provider of pharmacy automation solutions, for $1.525 billion.
Parata's portfolio of innovative pharmacy automation solutions power a growing network of pharmacies to reduce costs, enhance patient safety and improve the patient experience. Significant macro trends such as clinician shortages, wage inflation, centralization of pharmacy services and increased clinical demands on pharmacists are driving demand for intelligent workflow solutions. Through the use of automation and advanced software, pharmacists can focus more of their time on higher value clinical work and patient interactions to help improve medication adherence, medication safety and patient outcomes. The transaction will be complementary to BD's solutions in medication management with a new set of technologies across the care continuum, including acute care health systems, retail pharmacies, long-term care and home settings. Parata provides BD access to a new $600 million pharmacy automation market segment that is expected to grow approximately 10% annually to $1.5 billion in the U.S. alone over 10 years. Together with BD, the company expects Parata's solutions to outpace market growth through BD's commercial footprint, global scale and innovation capabilities.
"Parata expands BD's solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy," said Tom Polen, chairman, chief executive officer and president of BD. "Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings. We look forward to welcoming the talented Parata team to BD."
Rob Kill, chief executive officer of Parata added, "BD and Parata share a common purpose with closely aligned cultures. We are very proud of the company the team has built at Parata over the past 21 years and feel BD is a great home for our company, innovative solutions and technology, and Parata's team members. The combination with BD will further advance our purpose of powering pharmacies to help people lead healthier lives."
Transaction Highlights
The $1.525 billion all-cash transaction is expected to close by the end of the first half of BD's fiscal year 2023, subject to the satisfaction of customary closing conditions, including receipt of regulatory clearances. The transaction is consistent with BD's disciplined and balanced capital allocation strategy, including its financial policy framework to manage capital deployment around its 2.5 times net leverage target.
Parata's revenue for the last 12-month period, ended March 31, 2022, was approximately $220 million. The transaction is expected to be immediately accretive to revenue growth, adjusted operating margin and adjusted earnings per share and exceed BD's 2025 sales growth and margin targets, enhancing the company's ability to achieve its long-range targeted growth profile. The impact associated with transaction diligence costs will be managed within BD's current fiscal 2022 guidance range. Additional information on the transaction is available on the Investor page on BD.com.
About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 75,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/ and Twitter @BDandCo.
About Parata Systems
Parata provides pharmacy technology solutions to reduce costs, enhance patient safety and improve the patient experience by offering a comprehensive pharmacy automation portfolio with medication adherence packaging, high-speed robotic dispensing technologies and pharmacy workflow solutions. Discover how Parata powers pharmacies to help people lead healthier lives at parata.com.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading private equity firm focused exclusively on the healthcare sector. With over $7.1 billion in total capital raised, Frazier has invested in more than 200 companies with transaction types ranging from buyouts of profitable healthcare services companies to venture capital and company creation. Frazier has a philosophy of partnering with strong management teams while leveraging its internal operating resources and network to build exceptional companies. Frazier has offices in Seattle, WA, and Menlo Park, CA, and invests broadly across the U.S., Canada, and Europe. For more information about Frazier Healthcare Partners, visit www.frazierhealthcare.com.
FORWARD LOOKING STATEMENTS
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws). Forward looking statements generally are accompanied by words such as "will", "expect", or similar words, phrases or expressions. These forward-looking statements include statements regarding the estimated or anticipated future results of BD and anticipated benefits of the proposed acquisition of Parata, the expected timing of completion of the transaction, future growth in Parata's relevant market segments, and other statements that are not historical facts. These statements are based on the current expectations of BD management and are subject to a number of risks and uncertainties regarding Parata's business and the proposed acquisition, and actual results may differ materially from any anticipated results described, implied or projected in any forward-looking statement. These risks and uncertainties include, but are not limited to, the ability of the parties to successfully close the proposed acquisition, including the risk that the required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the transaction; risks relating to the integration of Parata's operations, products and employees into BD and the time and resources required to do so and the possibility that the anticipated synergies and other benefits of the proposed acquisition will not be realized or will not be realized within the expected timeframe; the loss of key senior management or other associates; competitive factors, including the development of new technologies by other companies and pricing and market share pressures; changes in healthcare or other governmental regulation; risks relating to the ability to maintain favorable supplier arrangements and relationships; changes in regional, national or foreign economic conditions, as well as other factors discussed in BD's filings with the Securities Exchange Commission. BD does not intend to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable laws or regulations. Any reference herein to the financial performance guidance provided by BD on May 5, 2022 is not intended as an update or affirmation of such guidance. Such guidance will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance.
Contacts:
BD
Media:
Troy Kirkpatrick
VP, BD Public Relations
858.617.2361
Troy.kirkpatrick@bd.com
Investors:
Francesca DeMartino
SVP, Head of BD Investor Relations
201.847.5743
Francesca.demartino@bd.com
Frazier Healthcare Partners
Carol Eckert
VP of Investor Relations
206.621.7200
carol.eckert@frazierhealthcare.com
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SOURCE BD (Becton, Dickinson and Company) | https://www.mysuncoast.com/prnewswire/2022/06/06/bd-acquire-parata-systems-enter-new-pharmacy-automation-solutions-market/ | 2022-06-06T12:40:46Z |
Fox News host Laura Ingraham on Monday said Americans might be ready “to turn the page” on former President Trump as he decides whether to run for president a third time.
“People conflate Trump with people’s overall sense of happiness in the country. Donald Trump’s been a friend of mine for 25 years, and I’m always very open about this on my show. But, you know we’ll see whether that’s what the country wants,” Ingraham said during an appearance on Lisa Boothe’s podcast. “The country I think is so exhausted. They’re exhausted by the battle, the constant battle, that they may believe that, well, maybe it’s time to turn the page if we can get someone who has all Trump’s policies, who’s not Trump.”
Trump has unleashed a streak of populism in the Republican Party that might not appeal to voters writ large in 2024, Ingraham theorized.
“The other problem is that it’s really not about Trump, right, this is about the views that Trump now brought to the floor for the Republican Party,” Ingraham said. “They don’t like his views, they don’t like the fact that he called out the military for their failures, that he wanted us to pull out of Iraq and Afghanistan. That he wanted to treat China and our trade relationship with China in a much — it was smarter, but much different way than the globalists preferred. And they certainly didn’t like the fact that he sent all those illegal immigrants back to Mexico with that Remain in Mexico.”
Ingraham has been among Trump’s longest and most loyal supporters in the conservative media ecosystem, just last week attacking the Justice Department and FBI following the search warrant executed at the former president’s Florida home in connection with an investigation into classified documents reportedly taken from the White House.
“When we get power back, it’s time to hold everyone accountable. The military leadership, the civilian leadership, the civil service, those in Congress who have abused their power, all of them have to held accountable,” Ingraham said on her prime-time show, hours after news of the search broke.
The Fox News host is one of several who the Jan. 6 House select committee found was texting with then-White House chief of staff Mark Meadows, imploring him to get Trump to do something to stop the rioting at the Capitol that day.
The relationship between top talent at Fox and Trump is closely watched by media watchdogs and political analysts as the former president flirts with another White House bid.
On Monday morning, “Fox and Friends” host Steve Doocy called on the former president to “tamp down the rhetoric” against the Justice Department and FBI following the Mar-a-Lago search and implore his supporters not to threaten members of federal law enforcement.
“Whatever we can do to help — because the temperature has to be brought down in the country,” Trump told a Fox News hours after Doocy’s remarks. “If it isn’t, terrible things are going to happen.” | https://cw33.com/hill-politics/laura-ingraham-voters-might-say-its-time-to-turn-the-page-on-trump/ | 2022-08-16T00:45:46Z |
High school football player collapses, dies during practice
JACKSON, Miss. (WLBT/Gray News) – A high school student in Mississippi died after he collapsed on the field during football practice on Monday.
The Brandon High School community is in shock following the sudden death of 17-year-old Phillip Laster Jr. He was just weeks away from starting his senior year and was determined to help his football team win the state title.
Laster’s body was taken to the State Medical Examiner’s Office to rule a cause of death.
His family said Laster spent his final moments on the football field doing what he loved.
His father, Phillip Laster Sr., said he was driving when he received a call from his son’s football coach on Monday. By the time his father made it to the hospital, it was too late.
“[The coach] told me it would probably be best for me to just come on in if I could because it was a serious situation,” Phillip Laster Sr. said. “On my way, I got the call that they lost him.”
Phillip Laster Jr. leaves behind his parents and three siblings. His family remembers him as a “gentle giant” who was loved by many.
“I’m speechless that I’m not going to hear his footsteps coming through the door, or ‘Mom, what are you cooking?’ in his deep voice,” his mother, Ashanta Laster, said. “He was a lovely kid. I love my son.”
Phillip Laster Sr. said his son was the kind of person who no one could say a bad word about.
“It’s just hard to find anybody that has anything bad to say about this guy,” he said. “The outpouring of love is just a testament to what his life was like. This was a good kid.”
Copyright 2022 WLBT via Gray Media Group, Inc. All rights reserved. | https://www.kxii.com/2022/08/04/high-school-football-player-collapses-dies-during-practice/ | 2022-08-04T15:38:23Z |
Stark Bites: New coffee shop in Perry Twp.; Cameo Grill now accepting credit cards
Timber Beans Coffee at 8216 Navarre Road SW in Perry Township opened Sept. 1.
The coffee cabin is drive-up only, offering picnic tables in front for customers. The menu offers more than just coffee, including hot tea, ice cream, soup and chili dogs.
“We believe in keeping things simple and consistent for daily commuters. The authentic dove tail cabin was built honoring the early settlers that came before us, taming this great country. Warm conversation among travelers and friends is welcomed,” states the Timber Beans website.
The coffee selection at Timber Beans includes regular and decaf, lattes, macchiatos, Americanos, cappuccinos and red-eyes.
Coffee flavors include vanilla, maple syrup, French vanilla, caramel, hazelnut and mocha, as well as seasonal flavors, which include pumpkin spice, toasted marshmallow and brown sugar cinnamon.
Other beverages include canned soda, sports drinks, juice, bottled water, chocolate milk and a cold ginger raspberry refresher.
The food menu includes hot dogs, grilled sandwiches served with chips, soup and chili.
North Canton coffee shops:Tremont Coffee, Shale Craft Coffee open in North Canton; M&H Beans to open roastery
Ice cream options include a cone or bowl, a sundae and root beer floats and orange cream floats.
Timber Beans is open from 6 a.m. to 9 p.m. Monday through Friday, and 8 a.m. to 9:30 p.m. Saturday.
Find more information at timberbeans.com.
St. Timothy’s Episcopal Church to host spaghetti supper Sept. 15
St. Timothy’s Episcopal Church, at 226 Third St. SE in Massillon, will be hosting a spaghetti supper from 5:30 to 7 p.m. Thursday.
Tickets are $8 for adults, $5 for children younger than 6, or a maximum of $20 per family. Reservations, which are encouraged, can be made by calling 330-833-3183. Walk-ins will be welcome, though.
A raffle also will be available at the event.
Proceeds will benefit St. Timothy’s Church outreach programs to help feed the hungry locally.
For more information, call the church office at 330-833-3183.
Salute Banquet Hall in Minerva now open
Salute Banquet Hall, at 103 E. Line St. in Minerva, recently opened.
The event center, owned by Shannon and Brian Long, has two levels, with a bar and full kitchen on the lower level. It’s not handicap accessible and accommodates 120 people total, 70 upstairs and 50 downstairs.
It’s now open for bookings. Request an appointment for more information by calling 330-522-0048 or emailing salutebanquethall@gmail.com.
You can find more information on the Salute Banquet Hall LLC Facebook page.
Restaurant review:'I can't get enough of it.' Tasty wraps, delicious chips and dip at Thatsa Wrapp Shack
Cameo Grill now accepting credit cards
After 77 years in business, Cameo Grill now accepts credit cards as payment.
The restaurant, at 809 Erie St. S in Massillon, announced on its Facebook page that it now will accept American Express, MasterCard, Visa and Discover cards.
Comments on the Facebook post showed lots of excitement.
“Finally! Thank you!” commented Heather Parrot.
“Love to see it!” shared Daniel Tyler.
“That's great news. I have so many people that I've brought that don't carry cash. I rarely carry cash myself anymore due to safety reasons,” said Joseph Scheetz.
Stark County burgers:Stark County Burger Bonanza: Cameo, Smoke, Swensons, George's, Menches, Coaches on list
Even more people liked the status — a total of 251 people — and the post was shared 69 times.
Blue Habanero coming to Canton
Blue Habanero will be opening a restaurant in Canton at 2234 Tuscarawas St. W. The restaurant, featuring Mexican cuisine, plans to open at the end of September or early October.
Blue Habanero currently has locations in Cleveland, Brecksville, Strongsville and Richmond, Virginia.
Menus vary per restaurant, but they include a variety of tacos, specialty dishes, bowls, soups and salads, and appetizers. Blue Habanero specializes in street-style tacos, and they prepare dishes fresh from scratch. | https://www.cantonrep.com/story/lifestyle/food/2022/09/14/new-coffee-shop-in-perry-township-cameo-grill-now-accepting-credit/65755895007/ | 2022-09-14T09:48:48Z |
SAN FRANCISCO, June 6, 2022 /PRNewswire/ -- Stellate, formerly known as GraphCDN, is bringing its expertise in GraphQL APIs to the masses with the help of a $25 million Series A from Tiger Global and a $5 million seed round led by boldstart ventures.
Stellate will use the raise to build the global data graph by connecting the world's GraphQL APIs to enable innovation, efficiencies, and cost savings on a scale never before seen. This is especially relevant considering the current explosion of data, which shows no signs of slowing; in five years time, you'll have 2.5 times more data than you do today.
"The world consists of data," Max Stoiber, Stellate CEO and co-founder, said. "Most of that data is related to each other but nobody's establishing these connections. If we can enable companies to make their GraphQL APIs accessible to third-party developers and then connect all of them, that will provide a ton of value for the world."
For example, you might want to figure out if the customer who just submitted a ticket is a high-value customer by checking the matching subscription in Stripe's data and whether there are any associated high-value deals with that customer's company in Salesforce. At the moment, this would require hours of integration work. With the global data graph, this would be reduced to a single query.
This is all made possible by GraphQL, an API technology invented at Meta that turns APIs from a list of endpoints into graphs. Only once the world's APIs are graphs can you actually connect them together into the global data graph.
"GraphQL's flexibility is awesome for developers but makes security and schema evolution more difficult, particularly once any third-parties use your API," Tim Suchanek, Stellate co-founder and CTO said. "That's why our first step to get to the global data graph is to build tooling that enables companies to make their GraphQL APIs accessible to third-party developers."
Suchanek explained that operating a GraphQL API in production isn't easy or straightforward. Outside the walls of MANGA, most companies don't have the engineering capacity to invest in solving problems around the core technology, such as abuse protection and performance, which leads to online rants like these. Stellate co-founders, Max Stoiber and Tim Suchanek, believe that everyone deserves access to the best tooling and analytics for this incredibly powerful API.
"As a technical founder myself with deep experience in developer tooling, I knew the moment I met Max and Tim that they were solving a real problem for developers," said Ellen Chisa, partner at boldstart ventures. "It's an honor to partner with amazing founders from the very beginning of their journey and support them through IPO."
The founders, Max Stoiber, who created styled-components and Spectrum (acquired by GitHub), and Tim Suchanek, author of the GraphQL Playground and first engineer at Prisma, will focus their expertise on developer tooling to make opening up APIs safe and secure as the first step toward building a global data graph.
"We seek to invest in game-changing companies, and we expect Stellate to be one of our winners," said John Curtius, Partner at Tiger Global Management. "We're looking forward to enabling Stellate to achieve its vision of unlocking the world's data."
Stellate's vision is to unlock the world's data. Currently, their GraphQL platform allows developers to easily speed up, manage, and scale GraphQL APIs. The company is deeply rooted in the GraphQL ecosystem with many years of experience in scaling production-grade GraphQL APIs.
Tiger Global is an investment firm focused on public and private companies in the global Internet, software, consumer, and financial technology industries. With a mission to generate world-class investment returns over the long term, Tiger launched their public equity business in 2001 and their private equity business in 2003.
boldstart invests in founders reinventing the enterprise stack by partnering with technical founders building a solution to a problem they've experienced themselves. Mission-driven founders like these will push through the hard times and boldstart will be right there with them.
Press Contact:
Erika Anderson
Erika.Anderson@FounderCulture.net
718.679.8083
Stellate Press Kit: https://stellate.co/press
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SOURCE Stellate | https://www.mysuncoast.com/prnewswire/2022/06/06/30-million-raise-build-global-data-graph/ | 2022-06-06T12:39:34Z |
Company offering any phone, any brand for free for new and current customers
CHICAGO, June 16, 2022 /PRNewswire/ -- UScellular has listened to its customers and is helping ensure that staying connected does not need to be one of their worries during these difficult times. Beginning today, new and upgrade-eligible current customers can get any phone, any color, any size from any brand for free. Getting the smartphone of their choice has never been easier for customers to take advantage of UScellular's fast, reliable network and stay connected to the people and places that matter most to them.
"We value all of our customers, and we want to provide them the flexibility and choice they deserve," said Eric Jagher, senior vice president and chief marketing officer at UScellular. "This is our way of honoring the wishes of our current customers while welcoming new customers to the first-class experience they will have at UScellular."
Additionally, to provide customers peace of mind regarding their wireless bill, UScellular recently announced that all of its plans – postpaid, prepaid, Home Internet and Business – are price protected. Whether they're a new or current customer, UScellular guarantees to not raise a customer's rate plan price, no matter what plan they are on through at least the end of 2023.
"Knowing that their rate plans will not increase, customers can feel even more confident in choosing a plan at UScellular that will best fit their needs," said Jagher.
For more information on UScellular's deals on the latest smartphones, tablets and wearables, go to https://www.uscellular.com/deals.
*Requires smartphone purchase via 36-month installment contract, postpaid service plan, and paperless billing. Paid via 36 monthly bill credits. Credit varies. Trade-in may be required. Offer not valid in WA, OR, and CA or online in KS, OK, and TX. Taxes, fees and additional terms apply.
UScellular is the fourth-largest full-service wireless carrier in the United States, providing national network coverage and industry-leading innovations designed to elevate the customer experience. The Chicago-based carrier provides a strong, reliable network supported by the latest technology and offers a wide range of communication services that enhance consumers' lives, increase the competitiveness of local businesses and improve the efficiency of government operations. To learn more about UScellular, visit one of its retail stores or www.uscellular.com. To get the latest news, visit newsroom.uscellular.com. Connect with UScellular on social media at facebook.com/uscellular, twitter.com/uscellular, instagram.com/uscellular, YouTube.com/uscellularcorp and linkedin.com/company/uscellular.
For more information, contact:
uscdlmediarelations@uscellular.com
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SOURCE UScellular | https://www.kxii.com/prnewswire/2022/06/16/uscellular-now-offering-everyone-same-phone-deals/ | 2022-06-16T13:41:23Z |
A portion of every Peace edition produced will be donated to charitable organizations that help those in need
TUTTLINGEN, Germany, Sept. 8, 2022 /PRNewswire/ - STORZ & BICKEL GmbH ("STORZ & BICKEL"), a world-leading manufacturer of high-end and medically certified cannabis vaporizers and subsidiary of Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), today unveiled a limited-edition version of its flagship VOLCANO CLASSIC device: the PEACE VOLCANO. Constructed with the same high-quality design and technology as the original VOLCANO CLASSIC, the PEACE VOLCANO features a limited-edition cosmetic alteration with a new, fresh white exterior, symbolizing harmony and peace, and an elegant engraving that echoes the motto of a new brand campaign, "with Love, for Peace."
Only 1,000 units of the PEACE VOLCANO are being made, with each device engraved with number 1 to 1,000. As a part of the "with Love, for Peace" campaign, STORZ & BICKEL is donating 100€ per unit produced, a total of 100,000€, to charity organizations. The recipients will be different charities whose work focuses on humanitarian aid in Ukraine and support of women, children and the ones most affected by the war. More information on the charity organizations can be found at www.storz-bickel.com.
"The VOLCANO CLASSIC is an industry icon beloved by consumers, and with the debut of the PEACE VOLCANO, we hope to raise awareness for values around solidarity, respect and love during a time it feels more important than ever," said Jürgen Bickel, Founder and Managing Director, STORZ & BICKEL. "The limited-edition PEACE VOLCANO is the symbol of our "with Love for Peace" campaign, and we hope it will serve as a source of mindfulness, tranquility, peace, and love as we work together to end injustices and discrimination in all their forms against vulnerable groups."
The PEACE VOLCANO is now available for purchase while supplies last and is offered at the regular VOLCANO CLASSIC price of $479 USD.
For more information about STORZ & BICKEL and the "with Love, for Peace" campaign, please visit www.storz-bickel.com.
About Canopy Growth Corporation
Canopy Growth (TSX: WEED) (NASDAQ: CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, Canopy Growth offers product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Canopy Growth's global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through Canopy Growth's award-winning Tweed and Tokyo Smoke banners, Canopy Growth reaches its adult-use consumers and has built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional hemp derived CBD products to the United States through its First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands.
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SOURCE Storz & Bickel | https://www.mysuncoast.com/prnewswire/2022/09/08/storz-amp-bickel-debuts-with-love-peace-limited-edition-volcano-classic/ | 2022-09-08T22:47:48Z |
Man with ties to Sherman added to Texas’ most wanted list
Published: Jul. 8, 2022 at 2:15 PM CDT|Updated: 1 hour ago
SHERMAN, Texas (KXII) - A man with ties to Sherman was added to the list of the Texas Department of Public Safety’s “Texas 10 Most Wanted Fugitives.”
52-year-old John Robert Havener has outstanding felony warrants from Grayson, Fannin, and Taylor County.
District Attorney Brett Smith said Havener is known to have ties to Abilene and Sherman.
A $5,000 reward is being offered for information leading to his apprehension.
Havener is to be consider armed and dangerous.
“We are hopeful that drawing some attention to this dangerous fugitive will lead to his prompt apprehension,” District Attorney Brett Smith stated.
Copyright 2022 KXII. All rights reserved. | https://www.kxii.com/2022/07/08/man-with-ties-sherman-added-texas-most-wanted-list/ | 2022-07-08T20:18:54Z |
Inspire Advisors celebrates their 3rd advisor transition this year who desires to center their practice around their faith
BOISE METRO, Idaho,, June 6, 2022 /PRNewswire/ -- "Seek the Kingdom of God above all else, and live righteously, and he will give you everything you need" (Matthew 6:33 NLT). This bible verse was quoted when Inspire Advisors, a Christian-focused registered investment advisor, asked its newest recruit, Matthew Cunningham, why he transitioned from a major firm. Hailing from Baker City, Oregon, Matthew has 22 years of experience and manages $40M in client assets.
The transition journey for Cunningham started back in 2017 when his youngest son was miraculously brought back to life after being unresponsive from drowning in a nearby pond. "It would have destroyed us all if he had died, but God answered a hopeless prayer from a desperate father and mother," said Cunningham. "We were already devoted to God when this all happened, but I had never seen an honest-to-goodness miracle before that. From that moment, I knew I didn't want to only work for money anymore. I wanted to work for a greater purpose with a mission I believe in, and Inspire Advisors gives us that chance."
In an interesting discovery, Cunningham realized that while his clients' greatest needs revolve around being encouraged through a relationship with him, he himself did not have any relationships at his previous firm. "This really hit me when I wanted to submit my resignation letter after nearly 18 years, I had no idea who to submit it to." Cunningham continued, "I have already made more profound friendships at Inspire, even prior to officially joining the firm, and now have access to the tools needed to further the ministry of biblically responsible investing in my practice. My clients need reason for hope amid a barrage of bad news and now I can share the hope of Christ with them with a team supporting me in prayer."
"The lack of meaningful and supportive relationships in the workplace is no longer something that can be ignored," commented Robert Netzly, CEO of Inspire Advisors. "The pandemic lockdowns showed the world how important relationships and human interaction are to thrive in life. God created us to live interdependently on each other in community where trust, love, and peace, govern our interactions and this is the exact environment we strive to create at Inspire Advisors. We're proud to welcome Matt to our advisor family and look forward to supporting him as he serves his clients."
Cunningham grew up in the Puget Sound area, learning the investment business from his father, Richard. In 2021 his father passed away and Matt wanted to continue the tradition of keeping the practice in the family. He hired two of his sons (Johnathan and Shane) to continue what has become the family business. He credits his father and mother for instilling in him a strong love of God and Country.
Inspire Advisors is the wealth management division of the Inspire Investing family of companies, an enterprise with $1.98 billion in assets under management (as of 3/31/22), ranked as the third fastest growing investment firm in the nation in the Financial Advisor Magazine annual report two years in a row, and top-quartile member of the Inc. 5000 list of fastest growing private companies in the United States.
The Inspire Advisors platform is purpose-built from the ground up to support Christian financial advisors who want to run their practices with diligent biblically responsible investing (BRI) alignment, a growing conviction among financial advisors and their clients.
Christian financial advisors interested in exploring a relationship with Inspire Advisors can email inspire@inspireadvisors.com or visit www.inspireadvisors.com to learn more.
*Disclaimer: Investment advisory services offered through Inspire Advisors, LLC and Inspire Investing, LLC, both being Registered Investment Advisors with the SEC. Inspire Investing, LLC and Inspire Advisors, LLC are affiliates.
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SOURCE Inspire Investing | https://www.wibw.com/prnewswire/2022/06/06/inspire-advisors-welcomes-financial-advisor-managing-over-40-million-client-assets-oregon/ | 2022-06-06T10:37:23Z |
HOUSTON, Sept. 13, 2022 /PRNewswire/ -- At The Battery Show North America, Ascend Performance Materials will feature its new flame-retardant nylons for EV safety applications and its Trinohex® Ultra electrolyte additive, which improves lithium-ion battery safety, extends cycle life and boosts performance.
Safer, higher-performance battery chemistry
Ascend, a fully integrated producer of performance materials, will showcase its Trinohex Ultra electrolyte additive; now REACH-registered in Europe and China.
In third-party testing, Trinohex Ultra demonstrates superior cathode protection across cathode and electrolyte chemistries. This protection has been shown to reduce harmful gas generation, improve capacity retention and lower impedance growth, especially in extreme conditions.
"Battery safety, performance, cost and material availability are the biggest obstacles to mass adoption of e-mobility and renewable energies," said Mr. McNeece. "Trinohex Ultra is a drop-in solution to these challenges and can be easily integrated into existing battery chemistries and manufacturing processes."
High-voltage safety
Ascend will also debut two new polyamide technologies in its Starflam® FR portfolio: X-Protect and color-stable orange.
Starflam X-Protect is a crosslinkable, flame-retardant nylon 6,6 designed to withstand EV battery thermal runaway. Tested in accordance with SAE AS5127 (a test originally designed for aerospace applications), Starflam X-Protect was rated fireproof to 1100°C for 15 minutes.
"In open-flame tests, Starflam X-protect outperforms standard FR nylon and even aluminum," said Ian van Duijvenboode, Ascend's e-mobility director. "In the event of a catastrophic battery failure, that added protection provides the time needed to ensure all passengers remain safe."
Additionally, Ascend has developed a color-stable orange for its Starflam 525K for high-voltage connectors and cables. The new orange masterbatch ensures the material retains its color over 5,000 hours of heat aging without sacrificing performance.
"As EVs become more prevalent and age, the technicians and first responders working on these vehicles need to know where high-voltage systems are," said Mr. van Duijvenboode. "Our orange will stay orange well into the operational life of the vehicle, clearly indicating areas of high-voltage."
You can learn more about Ascend's battery products at booth 1921 at The Battery Show from Sept. 13-15.
About Ascend Performance Materials
Contact: Ally Jahn, +1 713-210-9809, ajahn@ascendmaterials.com
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SOURCE Ascend Performance Materials | https://www.wibw.com/prnewswire/2022/09/13/ascend-bringing-new-materials-battery-show/ | 2022-09-13T16:05:30Z |
RICHMOND, Va., July 5, 2022 /PRNewswire/ -- Dominion Energy (NYSE: D) will host its second-quarter 2022 earnings call at 10 a.m. ET on Friday, Aug. 5, 2022. Management will discuss matters of interest to financial and other stakeholders including recent financial results.
A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com.
For individuals who prefer to join via telephone, domestic callers should dial 1-800-420-1271 and international callers should dial 1-785-424-1205. The passcode for the telephonic earnings call is 98021. Participants should dial in 10 to 15 minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor information pages by the end of the day Aug. 5. A telephonic replay of the earnings call will be available beginning at about 1 p.m. ET on Aug. 5. Domestic callers may access the recording by dialing 1-800-839-9307. International callers should dial 1-402-220-6085. The PIN for the replay is 98021.
About Dominion Energy
About 7 million customers in 14 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.
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SOURCE Dominion Energy | https://www.wibw.com/prnewswire/2022/07/05/dominion-energy-schedules-second-quarter-2022-earnings-call/ | 2022-07-05T20:45:41Z |
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Activate your digital account | https://www.jacksonsun.com/restricted/?return=https%3A%2F%2Fwww.jacksonsun.com%2Fstory%2Fsports%2Fhigh-school%2F2022%2F04%2F18%2Fjackson-area-softball-rankings-adamsville-debuts%2F7332828001%2F&gnt-tng-s=1 | 2022-04-18T19:49:54Z |
Following the launch of new products and brand new IFPE license, Clip obtains an unsecured revolving credit facility to continue addressing business demand for digital solutions in Mexico
MEXICO CITY, Sept. 6, 2022 /PRNewswire/ -- Clip, Mexico's leading commerce and digital payments platform, continues to strengthen its operations and offerings that drive the digital transformation of Mexico's economy by entering into a $50 million, three-year, unsecured revolving credit facility with Morgan Stanley, J.P. Morgan and HSBC. The funding will be used by Clip to expand its efforts to meet businesses' demand for innovative payments solutions and improve financial access for Mexican businesses and consumers.
"We see strong opportunity for growth in the near term," said founder and CEO Adolfo Babatz. "This credit facility represents another important milestone for Clip, as it provides additional support to our already solid balance sheet and liquidity position. It is important for Clip and our story to receive the support of banks of this caliber validating our mission of expanding financial inclusion in Mexico."
The new credit facility follows the launch of new products in May. The new products include three point-of-sale terminals - Clip Mini, Clip Pro 2 and Clip Stand -, two hardware accessories - Clip Cashbox and Clip Printer - and three Remote Payments software features - QR Code, Payment Link and URL Link.
"We continue to expand our offering in response to the increasing demand for digital payments solutions in Mexico," added Babatz. "The recent additions to our product suite mark the next step for many of our merchants, who can now use inventory management, card present, and card not present tools to grow their business."
Moreover, on August 23rd Clip received the approval for an IFPE (Institution of Electronic Payment Funds) license from the National Banking and Securities Commission (CNBV). This license – which was obtained through Swap (Pocketgroup Technologies S.A. de C.V.), a company Clip acquired control in December 2020 – gives Clip the ability to open and hold customer accounts with electronic balances, offer wire transfer services on those accounts and issue, market and manage forms of payment such as debit cards. This will allow Clip to continue working to transform the way people send and receive money in Mexico and to further expand its commerce ecosystem.
With these achievements, Clip remains committed to driving financial inclusion in Mexico by broadening access to digital payment solutions for Mexico's millions of small and medium-sized businesses. Over 75% of Clip merchants transacted with cash only before joining Clip.
About Clip
Clip is the leading commerce and digital payments platform that is empowering businesses in Mexico to interact and transact with its consumers more effectively through innovative technologies, best-in-class customer service, and the ability to accept all payment methods digitally. The company has offices in Mexico City, Guadalajara, Miami, Salt Lake City, and Buenos Aires. For more information, visit clip.mx
Social Media:
Facebook
Twitter
YouTube
Instagram
Contact:
Davis MacMillan
RF|Binder
clip@rfbinder.com
pr@payclip.com
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SOURCE Clip | https://www.mysuncoast.com/prnewswire/2022/09/06/clip-secures-us50-million-credit-facility-morgan-stanley-jp-morgan-hsbc/ | 2022-09-06T19:05:25Z |
SAN FRANCISCO, Aug. 2, 2022 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) has posted a shareholder letter containing its second quarter 2022 financial results on its Investor Relations website at https://investors.airbnb.com.
Airbnb will host an audio webcast to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET today. The link to the webcast will be made available on the Investor Relations website at https://investors.airbnb.com.
Interested parties can register for the call in advance by visiting https://conferencingportals.com/event/UxGWzHKK. After registering, instructions will be shared on how to join the call.
Following the call, a replay of the webcast will be available on the Airbnb Investor Relations website. A telephonic replay will be also available for three weeks following the call at (800) 770-2030 using conference ID: 24053.
About Airbnb
Airbnb was born in 2007 when two Hosts welcomed three guests to their San Francisco home, and has since grown to over 4 million Hosts who have welcomed more than 1 billion guest arrivals in almost every country across the globe. Every day, Hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way.
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SOURCE Airbnb, Inc. | https://www.wibw.com/prnewswire/2022/08/02/airbnb-announces-second-quarter-2022-results/ | 2022-08-02T21:31:39Z |
RICHLAND, Wash. and BOISE, Idaho, July 5, 2022 /PRNewswire/ -- Christensen Inc., (www.christensenusa.com) a leader in fuel, lubricants, and propane distribution across the Pacific Northwest, is excited to announce the acquisition of United Oil, one of the industry's premier distributors, with operations based in southern Idaho.
The addition of United Oil strengthens our distribution network in one of the fastest-growing markets in the country.
This acquisition brings together two dedicated, family-owned, and operated organizations. Together, they have over 100 years of serving the fuel, lubricant, and propane needs of their customers.
With the completion of the acquisition, Christensen will add an additional 3000 customers to its client roster, which spans retail fuel, commercial and fleet organizations.
"The Franklin family has built a great organization with wonderful people that truly care about each other and their customers," said Tony Christensen, CEO of Christensen, Inc. "The addition of United Oil and its entities support the Christensen growth strategy by strengthening our distribution network in one of the fastest growing markets in the country. We are excited to welcome the United Oil team and look forward to providing our quality products and differentiated services to customers in Idaho and Nevada."
Christensen offers an innovative suite of products and services to more than 10,000 retail fuels, commercial, industrial, and fleet card customers. As a recent winner of the Phillips 66 Innovation Award, Christensen leads the industry with its technology-driven tools that enable customers real-time access to business reporting, delivery details, and other crucial data, anytime and anywhere through its mobile app or customer-based web portal.
Robert Franklin, Co-Owner of United Oil said, "We've valued our customers and employees, who have felt like an extended part of our family over the years. This is an exciting opportunity for everyone involved, as we know our customers and employees are in good hands and will continue to be the priority."
This acquisition builds on the strong momentum Christensen has generated over the course of 2021, with the acquisition of two other distributors. As Christensen expands its footprint into Idaho, it will allow the company to continue to accelerate its long-term, sustainable growth plans.
ABOUT CHRISTENSEN, INC.
Founded in 1935, Christensen is family-owned and operated. Headquartered in Richland, Washington, the company employs more than 500 people across the Pacific Northwest and nationwide. Built on decades of industry experience and the latest technology, Christensen is revolutionizing the way fuels, lubricants, and propane are ordered, delivered, and managed. For the past 10 years, the Christensen Company has grown 8x faster than the industry average and has emerged as a market leader.
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SOURCE Christensen, Inc. | https://www.kxii.com/prnewswire/2022/07/05/christensen-inc-pacific-northwest-based-fuel-lubricants-propane-distributor-acquires-united-oil/ | 2022-07-05T13:05:08Z |
WASHINGTON, July 11, 2022 /PRNewswire/ -- Fredrick Wilson, a top energy attorney who previously served as a key legal advisor in the Federal Energy Regulatory Commission (FERC), has joined Troutman Pepper's market-leading Energy Practice Group in Washington, D.C. as a partner. He joins the firm from Davis Wright Tremaine LLP.
"We are delighted to welcome Fred to our national energy team," said Partner Amie Colby, chair of Troutman Pepper's Regulatory and Finance Department. "His extensive expertise in energy law, including his previous position as a top FERC advisor, and background in electrical engineering, make him a tremendous addition and asset to our energy clients across the country."
Wilson applies his engineering expertise and first-hand regulatory insight to help energy clients with respect to project development, complex transactions, and the full range of regulatory matters before FERC, the North American Electric Reliability Corporation, and state regulators. He has extensive experience with RTO/ISO market rules and issues under the Federal Power Act, Natural Gas Act, Public Utility Regulatory Policies Act, Public Utility Holding Company Act, and Natural Gas Policy Act.
"Our D.C. office has a large energy practice footprint, and we are excited to add Fred to the nationally recognized team," said Henry Liu, managing partner of the firm's D.C. office, which has welcomed five partners this year.
"I look forward to partnering with the firm's cross-disciplinary teams to help our energy clients navigate the myriad challenges they continuously face. Troutman Pepper is uniquely positioned to offer the full range of services that participants in wholesale energy markets need, so I'm very excited to join this Energy Practice," Wilson said.
Wilson earned his JD from the University of Houston Law Center, his MBA in finance from Georgia State University, and his bachelor's degree in electrical engineering from Howard University.
Troutman Pepper has one of the premier energy groups in the country, with more than 150 attorneys focused on the energy sector, including regulatory, project finance, tax, environmental, litigation, construction, real estate, and corporate attorneys. The firm is a preeminent member of the highly specialized FERC bar and is well-known for its expertise representing electric, natural gas, and hydropower clients on the industry's most pressing issues.
Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. The firm's litigation, transactional, and regulatory practices advise a diverse client base, from start-ups to multinational enterprises. The firm provides sophisticated legal solutions to clients' most pressing business challenges, with depth across industry sectors, including energy, financial services, health sciences, insurance, and private equity, among others. Learn more at troutman.com.
Media Contact:
Caitlin Whitehurst
caitlin.whitehurst@troutman.com
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SOURCE Troutman Pepper Hamilton Sanders LLP | https://www.wibw.com/prnewswire/2022/07/11/troutman-pepper-fuels-energy-practice-growth-with-addition-partner-fred-wilson-nationally-recognized-ferc-division-dc/ | 2022-07-11T19:11:07Z |
Attendees invited to visit DAC booth #2435 and to join proteanTecs' two conference sessions
HAIFA, Israel, July 6, 2022 /PRNewswire/ -- proteanTecs, a global leader of deep data analytics for electronics health and performance monitoring, will exhibit and present at the 2022 Design Automation Conference (DAC) to be held from July 11-13 at the Moscone Center West in San Francisco. In addition, the company will speak on July 13 at the co-located SEMICON West.
proteanTecs technical experts and solutions specialists will showcase how predictive lifecycle monitoring can address the performance, quality and reliability needs of manufacturers and service providers. Visitors can request a meeting here.
In the DAC program, proteanTecs will present alongside MediaTek and Cisco in a joint engineering track session titled 'Future Proofing Electronics with System Biometrics', to discuss gaps in existing approaches to chip and system production, and to highlight how new techniques will address emerging problems. Industry experts in system architecture, DFT and deep data analytics, from the three companies, will speak on July 12 from 3:30-5 p.m. in room 2010 on level 2.
At the co-located SEMICON West, proteanTecs' senior director of product marketing, Marc Hutner, will present on the Smart Manufacturing Stage as part of the 'Data Utilization & Analytics for Smart Manufacturing' session on July 13. The presentation titled 'Deep Data Analytics Powering Smart Manufacturing and System Health' will be held from 10:55-11:15 a.m. in the South Hall Expo.
"proteanTecs looks forward to once again participating in DAC and SEMICON West," said Uzi Baruch, Chief Strategy Officer (CSO) at proteanTecs. "As the industry continues to adopt deep data health and performance monitoring, we invite attendees to visit the proteanTecs DAC booth, to attend our technical sessions, or to schedule a meeting to see the proteanTecs platform in action."
To attend DAC, register here.
To attend SEMICON West, register here.
About proteanTecs
proteanTecs is a leading provider of deep data monitoring solutions for advanced electronics in the Datacenter, Automotive, Communications and Mobile markets. Based on Universal Chip Telemetry™ (UCT), the company provides system health and performance monitoring, from production to the field. By applying machine learning to novel data created by on-chip UCT agents, the company's analytics platform delivers predictive insights and visibility, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California, India and Taiwan. For more information, visit: www.proteanTecs.com.
Press Contact:
Tamar Naishlos, Media Relations
tamarn@proteanTecs.com
Photo: https://mma.prnewswire.com/media/1854209/proteanTecs_events.jpg
Logo: https://mma.prnewswire.com/media/844547/proteanTecs_Logo.jpg
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SOURCE proteanTecs | https://www.kxii.com/prnewswire/2022/07/06/proteantecs-showcase-deep-data-analytics-dac-semicon-west-2022/ | 2022-07-06T15:05:16Z |
TUCSON Ariz., Aug. 10, 2022 /PRNewswire/ -- Keys Inc. successfully launched the Keys App to Certified Locksmith and Security Professionals at the ALOA Locksmith & Security Expo 22 and is proud to have won the 2022 Best New Product Award; Featured on the Locksmith Ledger. Look forward to coverage in Keynotes Magazine and on the ALOA Website.
Proud of the reception the Keys App has received from quite frankly, the best of the best in the Locksmith & Security industry. Easy Registration for all Certified Locksmith & Emergency Roadside Service Providers at KeysApp.com – We are gearing up for a heavy launch to the public. Thrilled to have made connections with the some of the best trained and certified Locksmith & Security Professionals in the industry and even more thrilled to have them registered on the Keys® App Network! If you haven't already, register your Locksmith Company on KeysApp.com. Do you know of a great locksmith? Welcome them to join the Keys App certified service provider network!
Keys App Provides Peace of Mind to users in otherwise stressful situations. Knowing a Certified On Demand Service Provider is just a click away. Customer Satisfaction is our Priority. What if you or a family member gets stuck in a lock-out situation, where you locked your keys in your car or lost your keys altogether. Stuck on the side of the road? What do you do? Who do you call? Don't Panic.
Introducing Keys®, an innovative online and mobile application, where users can easily facilitate, negotiate, and track and chat with any registered service providers, on our map page, incase of any lost key, lock out or roadside emergencies. Just log in to the Keys Application and get instant access to locksmiths, key duplication, and emergency roadside specialists.
If you are a Locksmith or Emergency Roadside Service Provider, the Keys App will bring you in front of customers in your area who need your services. This will help boost your business and grow your clientele. With Keys® for your area, we Support our Certified Service Providers with Targeted Marketing Campaigns.
Take Your Business Further with our Comprehensive Web Panel.
No Monthly Charges or Subscriptions. Free to Download. Name Your Service Price; All Credit Card Payments Secured Through Stripe®. ACH Payments to Service Providers sent out daily. Grow your customer base. #Level UP Your Business Today and Join the Keys® Network.
Satisfied Customers. Happy Service Providers. www.keysapp.com
Download the Keys App Today at The Google Play Store and Apple App Store.
Keys Inc. Is Incorporated out of The State of Nevada and currently Headquartered out of Tucson, AZ. Currently a Privately Held Company with Plans to Go Public.
Twitter: @Keys_APP
Media Contact:
keys@keysapp.com
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SOURCE Keys Inc. | https://www.kxii.com/prnewswire/2022/08/10/keys-inc-proud-winner-aloa-locksmith-amp-security-expo-2022-best-new-product-showcase/ | 2022-08-10T17:55:55Z |
IRVING, Texas, July 18, 2022 /PRNewswire/ -- Vistra (NYSE: VST) plans to report its second quarter 2022 financial and operating results on Friday, Aug. 5, 2022. Management will present the materials during a live conference call and webcast beginning at 8 a.m. ET (7 a.m. CT).
The live webcast can be accessed via the investor relations section of Vistra's website at www.vistracorp.com under "Investor Relations" and then "Events & Presentations." Participants can also listen by phone by registering here prior to the start time of the call to receive a conference call dial-in number. For those unable to participate in the live event, a replay will be available on Vistra's website for one year following the call.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, Vistra is a large purchaser of wind power. The company owns and operates the 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors. Learn more about our environmental, social, and governance efforts and read the company's sustainability report at https://www.vistracorp.com/sustainability/.
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SOURCE Vistra Corp. | https://www.mysuncoast.com/prnewswire/2022/07/18/vistra-report-second-quarter-2022-results-august-5-2022/ | 2022-07-18T13:15:56Z |
- Q1 2022 Consolidated Revenue estimated to be in the range of $165-$175 million
- Q1 2022 Consolidated Adjusted EBITDA estimated to be in the range of $77-$82 million
TORONTO, April 7, 2022 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF), today announces an update on select preliminary consolidated financial results estimated for the three-month period ended March 31, 2022 ("Q1 2022"). All financial information in this press release is unaudited and is reported in Canadian dollars, unless otherwise indicated.
Driven by the anticipation of strong results from its operating subsidiaries, Quarterhill estimates its consolidated revenue for Q1 2022 to be in the range of $165-$175 million and its consolidated Adjusted EBITDA to be in the range of $77-$82 million.
Quarterhill will report its Q1 2022 financial results in early May 2022, with further details regarding its timing being made available closer to the release date.
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics, Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: www.quarterhill.com.
Quarterhill uses both IFRS and certain non-IFRS financial measures to assess performance. Non-IFRS financial measures are financial measures disclosed by a company that (a) depict historical or expected future financial performance, financial position or cash flow of a company, (b) with respect to their composition, exclude amounts that are included in, or include amounts that are excluded from the composition of the most directly comparable financial measure disclosed in the primary financial statements of the company, (c) are not disclosed in the financial statements of the company and (d) are not a ratio, fraction, percentage or similar representation. Non-IFRS ratios are financial measures disclosed by a company that are in the form of a ratio, fraction, percentage or similar representation that has a non-IFRS financial measure as one or more of its components, and that are not disclosed in the financial statements of the company.
These non-IFRS financial measures and non-IFRS ratios are not standardized financial measures under IFRS, and, therefore, are unlikely to be comparable to similar financial measures presented by other companies. Management believes these non-IFRS financial measures and non-IFRS ratios provide transparent and useful supplemental information to help investors evaluate our financial performance, financial condition, and liquidity using the same measures as management. These non-IFRS financial measures and non-IFRS ratios should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS.
Adjusted EBITDA - Non-IFRS Financial Measures
We use the non-IFRS financial measure "Adjusted EBITDA" to mean net (loss) income adjusted for (i) income taxes, (ii) finance expense or income; (iii) amortization and impairment of intangibles; (iv) other charges and other on-time items; (v) depreciation of right-of-use assets and property, plant and equipment; (vi) stock- based compensation; (vii) foreign exchange (gain) loss; and (viii) other income which includes equity in earnings from joint ventures, and (ix) dividends received from joint ventures. Adjusted EBITDA is used by our management to assess our normalized cash generated on a consolidated basis and in our operating segments. Adjusted EBITDA is also a performance measure that may be used by investors to analyze the cash generated by Quarterhill and our operating segments. Adjusted EBITDA should not be interpreted as an alternative to net loss and cash flows from operations as determined in accordance with IFRS or as measure of liquidity. The most directly comparable IFRS financial measure is Net (loss) income.
This news release contains forward-looking statements regarding Quarterhill and its business. Forward- looking statements are based on estimates and assumptions made by Quarterhill in light of its experience and its perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that Quarterhill believes are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on Quarterhill and/or its business. Other factors include, without limitation, the risks described in Quarterhill's March 20, 2022 annual information form for the year ended December 31, 2021 (the "AIF"). In addition, readers are also urged to review the additional risk factors disclosed in our Management's Discussion and Analysis for our three months and year ended December 31, 2021 and 2020 filed on www.sedar.com. Quarterhill recommends that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of Quarterhill's forward-looking statements. Quarterhill has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Quarterhill Inc. | https://www.kxii.com/prnewswire/2022/04/07/quarterhill-announces-preliminary-q1-2022-consolidated-financial-results/ | 2022-04-07T22:42:31Z |
FINDLAY, Ohio, Aug. 15, 2022 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced the redemption of (i) all of the $500 million outstanding aggregate principal amount of MPLX's 3.500% senior notes due Dec. 1, 2022 (including the portion of such senior notes issued by Andeavor Logistics LP and Tesoro Logistics Finance Corp.) and (ii) all of the $500 million outstanding aggregate principal amount of MPLX's 3.375% senior notes due March 15, 2023.
The 2022 senior notes are expected to be redeemed on or about Aug. 25, 2022 at a price equal to the greater of par or the make-whole payment calculated in accordance with the terms of the 2022 senior notes, plus accrued and unpaid interest to, but not including, the redemption date.
The 2023 senior notes are expected to be redeemed on or about Sept. 15, 2022 at a price equal to the greater of par or the make-whole payment calculated in accordance with the terms of the 2023 senior notes. The regular semiannual interest payment due on the 2023 senior notes on Sept. 15, 2022, will be paid in the usual manner to holders of record at the close of business on Sept. 1, 2022.
This news release is for informational purposes only and is neither an offer to buy nor a solicitation to sell any of the 2022 senior notes or the 2023 senior notes. The foregoing does not constitute a notice of redemption under the indentures governing the 2022 senior notes and the 2023 senior notes and is qualified in its entirety by the redemption notices distributed to the holders of the 2022 senior notes and 2023 senior notes under such indentures.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins.
Investor Relations Contact: (419) 421-2071
Kristina Kazarian, Vice President, Investor Relations
Jamie Madere, Manager
Isaac Feeney, Analyst
Media Contact: (419) 421-3312
Jamal Kheiry, Manager, Communications
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SOURCE MPLX LP | https://www.kxii.com/prnewswire/2022/08/15/mplx-lp-announces-redemption-senior-notes/ | 2022-08-15T15:17:27Z |
- Announced leadership changes with the addition of two key positions as we continue transitioning from testing to commercialization and, ultimately wide deployment of autonomous trucking technology
- Expanded our patent portfolio with 37 new patents as we continue to focus on technologies to support efficient commercial AV operations
- Announced our partnership with global logistics leader, Hegelmann Group
- Enhanced our government affairs and advocacy efforts
- Updated 2022 adjusted EBITDA, stock-based compensation, CapEx and ending cash balance guidance
SAN DIEGO, Aug. 2, 2022 /PRNewswire/ -- TuSimple (Nasdaq: TSP), a global self-driving technology company based in San Diego, California, has released unaudited financial results for the second quarter ending June 30th, 2022. TuSimple's complete quarterly financial results and management commentary can be accessed through the company's shareholder letter on the quarterly results page of the investor relations website at ir.tusimple.com.
"The progress we have made over the last few years is significant. We have built a first-class team from the ground up and created a safety-first culture to develop our industry-leading technology," said Xiaodi Hou, Co-Founder and CEO, TuSimple. "The next 2 - 3 years is all about bringing efficiency into everything that we do and we are confident in our ability to deliver advanced autonomous trucking at a commercial scale to build a safer, more efficient, and sustainable future on the road."
What: TuSimple Q2 2022 Earnings Conference Call
When: Tuesday, August 2, 2022
Time: 2 p.m. PDT/ 5 p.m. EDT
The conference call will be webcast live on TuSimple's Investor Relations website at ir.tusimple.com or by clicking here.
A replay of the call will be available on the Investor Relations website at ir.tusimple.com.
About TuSimple
TuSimple is a global autonomous driving technology company headquartered in San Diego, California, with operations in Arizona, Texas, Europe, and China. Founded in 2015, TuSimple is developing a commercial-ready, fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. TuSimple aims to transform the $4 trillion global truck freight industry through the company's leading AI technology, which makes it possible for trucks to drive safely autonomously, operate nearly continuously, and reduce fuel consumption by 10%+ relative to manually driven trucks. Global achievements include the world's first fully autonomous, 'driver-out' semi-truck run on open public roads, and development of the world's first Autonomous Freight Network (AFN). Visit us at www.tusimple.com.
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SOURCE TuSimple Holdings, Inc. | https://www.wibw.com/prnewswire/2022/08/02/tusimple-announces-second-quarter-2022-results/ | 2022-08-02T21:40:31Z |
Baby delivered after pregnant woman, man shot and killed
BALTIMORE (Gray News) – A newborn is in critical condition after being born to a mother who was shot and killed.
According to the Baltimore Police Department, officers were called to respond to a shooting around 8:15 Thursday night.
An unidentified man and a 38-year-old pregnant woman were found shot inside a vehicle.
Police say both people were taken to Johns Hopkins Hospital where the man was immediately pronounced dead.
The woman gave birth to her child and was pronounced dead shortly after.
According to police, the newborn is in critical condition.
“I could sit here tonight and tell you a whole bunch of things, but we really need to focus on the fact that something caused this to happen,” said Baltimore Mayor Brandon Scott during a news conference. “To be quite honest and frank, I don’t really give a (expletive) what the conflict was; we cannot have folks shooting pregnant women in our city.”
Homicide detectives are investigating the shooting.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.kxii.com/2022/05/13/baby-delivered-after-pregnant-woman-man-shot-killed/ | 2022-05-13T14:45:14Z |
Four people killed in fatal Amtrak crash identified
Published: Jun. 29, 2022 at 1:43 PM CDT|Updated: 53 minutes ago
KANSAS CITY, Mo. (KCTV) - The Missouri State Highway Patrol has identified the three passengers killed in Monday’s fatal train crash.
Highway Patrol officials stated the following three people died from the incident:
- Rochelle Cook, 58-year-old from De Soto, Kansas
- Kim Holsapple, 56-year-old from De Soto, Kansas
- Binh Pham, 82-year-old from Kansas City, Missouri
A statement indicated Cook and Holsapple were pronounced dead at the scene, while Pham was taken to University Hospital in Columbia, Missouri. She was pronounced dead later Monday.
The truck driver was also identified as 54-year-old Billy Barton II of Brookfield, Missouri.
The Highway Patrol stated Tuesday that about 150 people sustained some form of injury from the crash.
NTSB officials were expected to provide another update Wednesday afternoon.
Copyright 2022 KCTV. All rights reserved. | https://www.wibw.com/2022/06/29/four-people-killed-fatal-amtrak-crash-identified/ | 2022-06-29T19:38:27Z |
SCOTTSDALE, Ariz., July 6, 2022 /PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA) ("HTA") announced today that its Board of Directors has established the last business day prior to the closing date of the previously announced merger (the "Merger") with Healthcare Realty Trust Incorporated ("HR"), which is currently projected to be Tuesday, July 19, 2022, as the record date for the special distribution of $4.82 per share of Class A Common Stock (the "Special Distribution") to be paid pursuant to the merger agreement with HR. Pre-Merger HTA stockholders as of the record date will be entitled to receive the Special Distribution.
The Special Distribution is conditioned upon and subject to the approval by HTA and HR stockholders of the Merger and successful closing of the Merger in accordance with the merger agreement. Subject to favorable stockholder votes, the Merger is expected to close on July 20, 2022 (the "Merger Closing Date"). The Special Distribution will be paid five (5) business days following the effective time of the Merger, which is currently projected to be Wednesday, July 27, 2022. Due to the contingent nature of the Special Distribution, HTA's Class A Common Stock will trade with "due bills", representing an assignment of the right to receive the Special Distribution, beginning one business day prior to the record date, projected to be July 18, 2022, through the Merger Closing Date.
Additionally, the eligible holders of HTA's operating partnership units ("OP Units") will received an OP Unit distribution, which is on par with HTA's Class A Common Stock Special Distribution described above.
Important Information About the Special Distribution
Due to the contingent nature of the Special Distribution, as required by the rules of the NYSE, HTA's Class A Common Stock will trade with "due bills", representing an assignment of the right to receive the Special Distribution, beginning one business day prior to the record date, projected to be July 18, 2022, through the Merger Closing Date (such period of time the "Due-bill Period"). AS A RESULT, HOLDERS OF HTA'S CLASS A COMMON STOCK ON THE RECORD DATE MUST HOLD HTA CLASS A COMMON STOCK THROUGH THE MERGER CLOSING DATE IN ORDER TO BE ENTITLED TO RECEIVE THE SPECIAL DISTRIBUTION. HTA STOCKHOLDERS WHO SELL THEIR SHARES ON OR BEFORE THE MERGER CLOSING DATE WILL NOT BE ENTITLED TO RECEIVE THE SPECIAL DISTRIBUTION. PURCHASERS OF HTA CLASS A COMMON STOCK DURING THE DUE-BILL PERIOD (EVEN IF THE TRADE WILL SETTLE AFTER THE DUE-BILL PERIOD) WHO HOLD SUCH SHARES ON THE MERGER CLOSING DATE WILL BE ENTITLED TO RECEIVE THE SPECIAL DISTRIBUTION IN THE EVENT THAT THE MERGER IS SUCCESSFULLY CLOSED. STOCKHOLDERS THAT SELL HTA CLASS A COMMON STOCK DURING THE DUE-BILL PERIOD (EVEN IF THE TRADE WILL SETTLE AFTER THE DUE-BILL PERIOD) WILL NOT BE ENTITLED TO RECEIVE THE SPECIAL DISTRIBUTION IN THE EVENT THAT THE MERGER IS SUCCESSFULLY CLOSED.
Due bills obligate a seller of shares of stock to deliver the dividend to the buyer. The due-bill obligations are settled customarily between the brokers representing buyers and sellers of the stock. HTA has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of HTA Class A Common Stock during the Due-bill Period should consult with their broker before trading in HTA Class A Common Stock to be sure they understand the effect of the NYSE's due-bill procedures.
HTA's Class A Common Stock will begin to trade ex-dividend on the first business day after the Merger Closing Date. AS A RESULT, INVESTORS WHO ENTER INTO TRADES TO PURCHASE HTA CLASS A COMMON STOCK ON OR AFTER THE EX-DIVIDEND DATE WILL NOT RECEIVE THE SPECIAL DISTRIBUTION.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA) is the largest dedicated owner and operator of medical office buildings in the United States, with assets comprising approximately 26.0 million square feet of gross leasable area, and with $7.8 billion invested primarily in medical office buildings, as of March 31, 2022. HTA provides real estate infrastructure for the integrated delivery of healthcare services in highly-desirable locations. Investments are targeted to build critical mass in 20 to 25 leading gateway markets that generally have leading university and medical institutions, which generally translates to superior demographics, highly-educated graduates, intellectual talent and job growth. The strategic markets HTA invests in support a strong, long-term demand for quality medical office space. HTA utilizes an integrated asset management platform consisting of on-site leasing, property management, engineering and building services, and development capabilities to create complete, state of the art facilities in each market. We believe this drives efficiencies, strong tenant and health system relationships, and strategic partnerships that result in high levels of tenant retention, rental growth and long-term value creation. Headquartered in Scottsdale, Arizona, HTA has developed a national brand with dedicated relationships at the local level.
Founded in 2006 and listed on the New York Stock Exchange in 2012, HTA has produced attractive returns for its stockholders that have outperformed the US REIT index, since inception. More information about HTA can be found on the Company's website (www.htareit.com), Facebook, LinkedIn and Twitter.
Forward-Looking Language
This press release contains certain forward-looking statements with respect to HTA. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially and in adverse ways from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, without limitation, the following: HTA's ability to consummate the merger (the "Merger") with HR on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary stockholder approvals and satisfaction of other closing conditions to consummate the Merger; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement relating to the Merger; risks related to diverting the attention of HTA and HR management from ongoing business operations; failure to realize the expected benefits of the Merger; significant transaction costs and/or unknown or inestimable liabilities; risks associated with stockholder litigation in connection with the Merger, including resulting expense or delay; the risk that HTA's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the ability to obtain the expected financing to consummate the Merger; risks related to future opportunities and plans for HTA, including the uncertainty of expected future financial performance and results of the combined company following completion of the Merger; effects relating to the announcement of the proposed transaction or any further announcements or the consummation of the Merger on the market price of HTA's or HR's common stock; the possibility that, if the combined company does not achieve the perceived benefits of the Merger as rapidly or to the extent anticipated by financial analysts or investors, the market price of HTA's common stock could decline; general adverse economic and local real estate conditions; changes in economic conditions generally and the real estate market specifically; legislative and regulatory changes, including changes to laws governing the taxation of REITs and changes to laws governing the healthcare industry; the availability of capital; changes in interest rates; competition in the real estate industry; the supply and demand for operating properties in HTA's proposed market areas; changes in accounting principles generally accepted in the US; policies and guidelines applicable to REITs; the availability of properties to acquire; the availability of financing; pandemics and other health concerns, and the measures intended to prevent their spread, including the currently ongoing COVID-19 pandemic; and the potential material adverse effect these matters may have on HTA's business, results of operations, cash flows and financial condition. Additional information concerning HTA and its business, including additional factors that could materially and adversely affect HTA's financial results, include, without limitation, the risks described under Part I, Item 1A – Risk Factors, in HTA's 2021 Annual Report on Form 10-K and in HTA's other filings with the Securities and Exchange Commission.
Contacts
Financial Contact:
Robert A. Milligan
Chief Financial Officer
480.998.3478
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SOURCE Healthcare Trust of America, Inc. | https://www.wibw.com/prnewswire/2022/07/06/healthcare-trust-america-inc-announces-record-date-special-distribution/ | 2022-07-06T21:14:12Z |
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