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NEW YORK, Aug. 18, 2022 /PRNewswire/ -- Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the United States, announced today that top-producing agent Jonathan Stein has joined the firm. He and his team will be based out of the company's 111 Fifth Avenue office in the Flatiron neighborhood.
"Douglas Elliman is one of the top firms in the U.S., with a strong national and international network," said Stein. "I am excited to be joining this powerhouse company that will enable me to work in multiple markets and on some of the best new development projects in the country."
"Jonathan's record of achievement speaks for itself, and we are thrilled to have him and his team as part of the Elliman family," said Howard M. Lorber, Executive Chairman of Douglas Elliman. "His work ethic and professionalism make him a great fit for our firm, and we look forward to his continued success."
A leader in luxury resales in New York City for almost a decade, Stein had over $100 million closed and in contract in 2021 and his team was ranked the top downtown team at his prior firm. The team includes Anthony Park, Ben Foden, Benjamin Jordan, Ben Nichols, Courtney Heisen, Frank Brucato, Nicky Hammond and Timothy Schneider. They will be bringing almost $28 million in listings over to Douglas Elliman.
"We are excited to have Jonathan and his team at Douglas Elliman," said Scott Durkin, CEO of Douglas Elliman Realty. "We look forward to helping them continue to grow and build their impressive brand."
Some of Stein's notable deals include a $14.5-million apartment at 140 Franklin Street, a $9,930,993 apartment at 1010 Park Avenue, an $8.5-million apartment at 230 Central Park South and a $7.6-million apartment at 247 Waverly Place.
"Jonathan and his team are the perfect addition to the Douglas Elliman family," said Richard Ferrari, President and CEO of Douglas Elliman New York City and Northeast Region. "He is a force in New York real estate and his successful track record in high-end sales and rentals makes him a natural fit for our brokerage."
Prior to real estate, Stein worked in private equity. He holds a Bachelor of Science from Champlain College. In his free time, you can find him fly fishing, sporting clays, racing motorcycles, collecting cars and collecting antiquarian first-edition books.
Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Colorado, Texas and Nevada. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Additional information concerning Douglas Elliman is available on its website, www.elliman.com.
Investors and others should note that we may post information about Douglas Elliman on our website at www.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at www.elliman.com and on our social media accounts.
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PITTSBURGH, Aug. 18, 2022 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) today announced the pricing of its offering of $350 million aggregate principal amount of its 5.150% fixed rate senior notes due 2025 (the "Notes"). The Notes will bear interest at 5.150% per annum, payable semi-annually in arrears on February 25 and August 25, of each year, commencing on February 25, 2023, and ending on the earlier of the optional redemption date (which is on or after the 30th day prior to the maturity of the Notes) or the maturity date at 100% of the principal amount. The Notes will mature on August 25, 2025. The offering is expected to close on August 25, 2022, subject to customary closing conditions.
The Company expects to use the net proceeds from the offering for general corporate purposes, which may include repayment of the 2.200% Senior Notes due February 2023, investments at the holding company level, capital to support the growth of First National Bank of Pennsylvania and refinancing of outstanding indebtedness.
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are serving as joint book-running managers, and WauBank Securities LLC, Piper Sandler & Co., and BofA Securities, Inc. are serving as co-Managers.
FNB has filed a shelf registration statement (including a base prospectus) and a prospectus supplement relating to this offering with the U.S. Securities and Exchange Commission (SEC). Prospective investors should read the registration statement (including the base prospectus), the prospectus supplement and other documents FNB has filed and will file with the SEC that are incorporated by reference into the registration statement and each prospectus supplement for more complete information about FNB and the offering, including the risks associated with the securities and the offering.
This announcement is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or 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. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from the investor relations section of FNB's website at: www.fnbcorporation.com or from the SEC's website at: www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and accompanying prospectus if you request it by contacting: Morgan Stanley & Co. LLC by calling 1 (866) 718-1649, or Goldman Sachs & Co. LLC by calling 1 (866) 471-2526. Information on FNB's website does not constitute part of, and is not incorporated by reference in, the prospectus or prospectus supplement.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of $42 billion and more than 340 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
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Another Quarter of Strong Results
Second quarter revenues of $429.3 million, up 40.6% year-over-year
IFRS Diluted EPS of $0.87 for the second quarter
Non-IFRS Diluted EPS of $1.22 for the second quarter
LUXEMBOURG, Aug. 18, 2022 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native technology services company, today announced results for the three and six months ended June 30, 2022.
Please see highlights below, including certain Non-IFRS measures. Note that reconciliations between Non-IFRS financial measures and IFRS operating results are disclosed at the end of this press release.
Second Quarter 2022 Financial Highlights
- Revenues rose to $429.3 million, representing 40.6% year-over-year growth.
- IFRS Gross Profit Margin was 37.6% compared to 38.0% in the second quarter of 2021.
- Non-IFRS Adjusted Gross Profit Margin was 39.1% compared to 39.3% in the second quarter of 2021.
- IFRS Profit from Operations Margin was 11.4% compared to 10.1% in the second quarter of 2021.
- Non-IFRS Adjusted Profit from Operations Margin was 16.1% compared to 16.2% in the second quarter of 2021.
- IFRS Diluted EPS was $0.87 compared to $0.48 in the second quarter of 2021.
- Non-IFRS Adjusted Diluted EPS was $1.22 compared to $0.88 in the second quarter of 2021.
Six months ended June 30, 2022 Financial Highlights
- Revenues rose to $830.6 million, representing 44.4% year-over-year growth.
- IFRS Gross Profit Margin was 37.8% compared to 38.1% in the first six months of 2021.
- Non-IFRS Adjusted Gross Profit Margin was 39.3% compared to 39.4% in the first six months of 2021.
- IFRS Profit from Operations Margin was 12.0% compared to 10.6% in the first six months of 2021.
- Non-IFRS Adjusted Profit from Operations Margin was 16.5% compared to 16.4% in the first six months of 2021.
- IFRS Diluted EPS was $1.72 compared to $1.01 in the first six months of 2021.
- Non-IFRS Adjusted Diluted EPS was $2.41 compared to $1.71 in the first six months of 2021.
Other Metrics as of and for the quarter ended June 30, 2022
- Cash and cash equivalents and Short-term investments were $361.7 million as of June 30, 2022, a decrease of $98.7 million from $460.4 million as of December 31, 2021, driven by seasonal impacts of tax and bonus payments, and M&A earnout payments. As of June 30, 2022, our credit facility was fully undrawn.
- Globant completed the second quarter of 2022 with 25,924 Globers, 24,410 of whom were technology, design and innovation professionals.
- The geographic revenue breakdown for the second quarter of 2022 was as follows: 64.5% from North America (top country: US), 23.8% from Latin America (top country: Argentina), 9.7% from EMEA (top country: Spain) and 2.0% from Asia and Oceania (top country: India).
- In terms of currencies, 79.0% of Globant's revenues for the second quarter of 2022 were denominated in US dollars.
- During the twelve months ended June 30, 2022, Globant served a total of 1,043 customers (with revenues over $10,000 in the last twelve months) and continued to increase its wallet share, with 233 accounts generating more than $1 million of annual revenues, compared to 154 for the same period one year ago.
- Globant's top customer, top five customers and top ten customers for the second quarter of 2022 represented 10.5%, 25.7% and 36.7% of revenues, respectively.
"In the eight years since our IPO, Globant has consistently delivered industry leading growth with an approximate 31% revenue CAGR. We will keep to our growth mindset as Globant expands in its geographies, reinvention offering and array of platforms. We continue to experience increasing demand for our services. Business leaders are seeking new and improved ways to reach broader audiences and gain efficiencies. To address this demand, we have recently launched our new Retail and Automotive Studios, which will expand the scope of our offerings, and our new Fast Code Studio, addressing a profound transformation in software development," said Martín Migoya, Globant's CEO and co-founder.
"We are happy to share with you our solid financial results for the second quarter of 2022. We delivered another quarter of industry-leading revenue growth, coupled with high levels of profitability and cash generation. Second quarter revenues reached $429.3 million, an increase of 40.6% compared to the second quarter of 2021. On a constant currency basis, second quarter revenue growth was 42.1% year over year; 1.5 percentage points above our headline figure. In organic terms, we posted a 36.6% year-over-year top-line growth. This elevated level of top-line growth continues to reflect the robust demand for our services. Clients continue to choose Globant for our technical capabilities, the speed in which we deliver value to our customers, and the scale of the digital engagements we are able to provide. With this in mind, we continue to be confident in our ability to drive strong growth and robust levels of profitability, as well as maintain a solid balance sheet position," explained Juan Urthiague, Globant's CFO.
2022 Third Quarter and Full Year Outlook
Based on current market conditions, Globant is providing the following estimates for the third quarter and the full year of 2022:
- Third quarter 2022 Revenues are estimated to be at least $456 million, or 33.4% year-over-year growth. This expected growth includes a negative FX impact of 2.0 percentage points.
- Third quarter 2022 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 16%-17%.
- Third quarter 2022 Non-IFRS Adjusted Diluted EPS is estimated to be at least $1.24 (assuming an average of 42.9 million diluted shares outstanding during the third quarter).
- Fiscal year 2022 Revenues are estimated to be at least $1,775 million, or 36.8% year-over-year growth. This expected revenue growth includes a negative FX impact of 3.0 percentage points.
- Fiscal year 2022 Non-IFRS Adjusted Profit from Operations Margin is estimated to be in the range of 16%-17%.
- Fiscal year 2022 Non-IFRS Adjusted Diluted EPS is estimated to be at least $5.03 (assuming an average of 42.9 million diluted shares outstanding during 2022).
Conference Call and Webcast
Martín Migoya and Juan Urthiague will discuss the second quarter 2022 results in a video conference call today beginning at 4:30pm ET.
Video conference call access information is:
https://more.globant.com/F2Q22EarningsCall
Webcast http://investors.globant.com/
About Globant (NYSE:GLOB)
We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design and engineering meet scale.
We have more than 25,900 employees and we are present in 20 countries working for companies like Google, Rockwell Automation, Electronic Arts and Santander, among others.
We were named a Worldwide Leader in CX Improvement by IDC MarketScape report. We were also featured as a business case study at Harvard, MIT and Stanford. We are a member of the Cybersecurity Tech Accord.
For more information, please visit www.globant.com
Non-IFRS Financial Measures
While the financial figures included in this press release have been computed in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") applicable to interim periods, this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standards 34, "Interim Financial Reporting" nor a financial statement as defined by International Accounting Standards 1 "Presentation of Financial Statements". The financial information in this press release has not been audited.
Globant provides non-IFRS financial measures in addition to reported IFRS results prepared in accordance with IFRS. Management believes these measures help illustrate underlying trends in the company's business and uses the non-IFRS financial measures to establish budgets and operational goals, communicated internally and externally, for managing the company's business and evaluating its performance. The company anticipates that it will continue to report both IFRS and certain non-IFRS financial measures in its financial results, including non-IFRS measures that exclude share-based compensation expense, depreciation and amortization, impairment of non-financial assets, acquisition-related charges, COVID-19 related charges and the related effect on income taxes of the pre-tax adjustments. Because the company's non-IFRS financial measures are not calculated according to IFRS, these measures are not comparable to IFRS and may not necessarily be comparable to similarly described non-IFRS measures reported by other companies within the company's industry. Consequently, Globant's non-IFRS financial measures should not be evaluated in isolation or supplant comparable IFRS measures, but, rather, should be considered together with its condensed interim consolidated statements of financial position as of June 30, 2022 and December 31, 2021 and its condensed interim consolidated statement of comprehensive income for the three and six months ended June 30, 2022 and 2021, prepared in accordance with International Accounting Standard (IAS) 34, Interim Financial Reporting.
Globant is not providing a quantitative reconciliation of forward-looking Non-IFRS Adjusted Profit from Operations Margin or Non-IFRS Adjusted Diluted EPS to the most directly comparable IFRS measure because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable effort. These items include, but are not limited to, share-based compensation expense, impairment of assets, acquisition-related charges, and the tax effect of non-IFRS adjustments. These items are uncertain, depend on various factors, and could have a material impact on IFRS reported results for the guidance period.
Forward Looking Statements
In addition to historical information, this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could impact our actual results include: the impact and duration of the COVID-19 pandemic; our ability to maintain current resource utilization rates and productivity levels; our ability to manage attrition and attract and retain highly-skilled IT professionals; our ability to accurately price our client contracts; our ability to achieve our anticipated growth; our ability to effectively manage our rapid growth; our ability to retain our senior management team and other key employees; our ability to continue to innovate and remain at the forefront of emerging technologies and related market trends; our ability to retain our business relationships and client contracts; our ability to manage the impact of global adverse economic conditions; our ability to manage uncertainty concerning the instability in the current economic, political and social environment in Latin America; and other factors discussed under the heading "Risk Factors" in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission and any other risk factors we include in subsequent reports on Form 6-K.
Because of these uncertainties, you should not make any investment decisions based on our estimates and forward-looking statements. Except as required by law, we undertake no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.
Globant S.A.
Condensed Interim Consolidated Statement of Comprehensive Income
(In thousands of U.S. dollars, except per share amounts, unaudited)
Globant S.A.
Condensed Interim Consolidated Statements of Financial Position as of June 30, 2022 and December 31, 2021
(In thousands of U.S. dollars, unaudited)
Globant S.A.
Selected Cash Flow Data
(In thousands of U.S. dollars, unaudited)
Globant S.A.
Supplemental Non-IFRS Financial Information
(In thousands of U.S. dollars, unaudited)
(a) Acquisition-related charges include, when applicable, amortization of purchased intangible assets included in depreciation and amortization expense line on our condensed interim consolidated statements of comprehensive income, external deal costs, acquisition-related retention bonuses, integration costs, changes in the fair value of contingent consideration liabilities, charges for impairment of acquired intangible assets and other acquisition-related costs. We cannot provide acquisition-related charges on a forward-looking basis without unreasonable effort as such charges may fluctuate based on the timing, size, and complexity of future acquisitions as well as other uncertainty inherent in mergers and acquisitions.
(b) COVID-19 related charges include, when applicable, bad debt provision related to the effect of COVID-19 on our customers businesses, donations and other expenses directly attributable to the pandemic that are both incremental to charges incurred prior to the outbreak and not expected to recur once the crisis has subsided and operations return to normal and clearly separable from normal operations. Moreover, these charges also include rent concessions that we were granted due to the pandemic environment.
Globant S.A.
Schedule of Supplemental Information (unaudited)
(*) Represents customers with more than $10,000 in revenues in the last twelve months.
Investor Relations Contact:
Arturo Langa, Globant
investors@globant.com
+1 (877) 215-5230
Media Contact:
Wanda Weigert, Globant
pr@globant.com
+1 (877) 215-5230
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SOURCE Globant | https://www.whsv.com/prnewswire/2022/08/18/globant-reports-2022-second-quarter-financial-results/ | 2022-08-18T21:45:12Z |
ISTANBUL, Aug. 18, 2022 /PRNewswire/ -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform ("Hepsiburada" or the "Company"), announced today that on August 17, 2022 it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with the minimum bid price requirement of US$1.00 per share under Nasdaq Listing Rule 5450(a)(1). For the prior 10 consecutive business days, the closing bid price of the Company's American depositary shares ("ADSs"), each representing one Class B ordinary share of the Company, had been at US$1.00 per ADS or greater. Nasdaq indicated within the letter that this matter is now closed.
About Hepsiburada
Hepsiburada is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to our customers' everyday needs and to help make people's daily lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through our embedded digital wallet, Hepsipay. As at the end of March 2022, we had seamlessly connected 44.2 million members and 82.9 thousand Active Merchants.
Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, we are committed to meaningful action to empower women. Through our 'Technology Empowerment for Women Entrepreneurs' programme, we have reached over 32 thousand female entrepreneurs across Turkey to date.
Logo - https://mma.prnewswire.com/media/1686926/Hepsiburada_Logo.jpg
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SOURCE Hepsiburada | https://www.whsv.com/prnewswire/2022/08/18/hepsiburada-regains-compliance-with-nasdaq-minimum-bid-price-requirement/ | 2022-08-18T21:45:19Z |
ATLANTA, Aug. 18, 2022 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, today announced that its board of directors declared a second quarter cash dividend of $1.90 per share. The dividend is payable on September 15, 2022, to shareholders of record on the close of business on September 1, 2022. This is the 142nd consecutive quarter the company has paid a cash dividend.
The board of directors also authorized a new $15 billion share repurchase program, replacing its previous authorization.
The Home Depot is the world's largest home improvement specialty retailer. At the end of the second quarter, the Company operated a total of 2,316 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
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SOURCE The Home Depot | https://www.whsv.com/prnewswire/2022/08/18/home-depot-declares-second-quarter-dividend-190-announces-15-billion-share-repurchase-authorization/ | 2022-08-18T21:45:25Z |
ATLANTA, Aug. 18, 2022 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, announced today that its Board of Directors has elected CEO and President Edward "Ted" Decker as chair of the board, effective Oct. 1, 2022. He will succeed Craig Menear, who will retire as chair effective Sept. 30, 2022.
"During Ted's tenure as CEO and a member of the board, we have witnessed firsthand his passion for the customer experience and our associates, and we look forward to continuing to work with him as chair," said Greg Brenneman, the board's lead director. "On behalf of the Board of Directors, I want to thank Craig for his unwavering commitment to The Home Depot's values and his visionary leadership, which established a solid foundation for the long-term success of the company."
Decker, a 22-year veteran of The Home Depot, was named CEO in March 2022. He was named president and chief operating officer in October 2020. Decker joined The Home Depot in 2000 as a director of business valuation and has held numerous strategic positions across the company.
The Home Depot is the world's largest home improvement specialty retailer. At the end of the second quarter, the company operated a total of 2,316 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
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SOURCE The Home Depot | https://www.whsv.com/prnewswire/2022/08/18/home-depot-names-ted-decker-chair-board/ | 2022-08-18T21:45:31Z |
Raises Concerns About Board's "Objectivity and Independence" and Questions its "Ability to Perform its Proper Oversight Role"
Recognizes Ceragon's track record of underperformance and questions standalone strategy
Affirms fair value of Aviat's acquisition proposal
AUSTIN, Texas, Aug. 18, 2022 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW) ("Aviat"), the leading expert in wireless transport solutions, today announced that independent proxy advisory firm Glass Lewis has recommended that shareholders of Ceragon Networks Ltd. (NASDAQ: CRNT) ("Ceragon") vote FOR the removal of three members of Ceragon's Board of Directors ("Board"), Yael Langer, Ira Palti, and David Ripstein, at the upcoming Extraordinary General Meeting of Shareholders on August 23, 2022. Glass Lewis also recommended that Ceragon shareholders vote FOR three of Aviat's highly-qualified, independent nominees, Paul Delson, Jonathan F. Foster, and Dennis Sadlowski.
In its August 17, 2022 report, Glass Lewis questioned the independence and objectivity of the three directors Aviat seeks to remove and questioned the motives behind their refusal to engage with Aviat:
- "We believe Aviat has identified valid concerns regarding the independence and objectivity of the current Ceragon board, which may explain the board's prickly response to Aviat's approaches and its refusal to more meaningfully engage with a prospective suitor."1
- "We view such relationships [as those between Ceragon directors] as potentially creating conflicts for directors, as they may be forced to weigh their own interests in relation to shareholder interests when making board decisions."
- "We note further that three of the Company's seven directors are either affiliated with the Company or are insiders. We believe this raises further concerns about the objectivity and independence of the board and its ability to perform its proper oversight role."
- "Ultimately, we are concerned that these apparent conflicts may have manifested themselves in the board's recent evaluation of Aviat's acquisition proposal. In our view, given the ties and lengthy tenures of certain Ceragon directors, shareholders have less assurance that Aviat's proposal has received a full, fair and independent evaluation by a sufficiently independent board of directors. In that regard, we believe Aviat has provided evidence to establish sufficient concern that its advances may have been rebuffed by the Ceragon board for reasons other than what we consider are in the best interests of shareholders."
- "We believe there is suitable cause for investors to support Board change at this time."
In its report this week, Glass Lewis raised concerns about the Board's independence, noting "certain directors' past and current affiliations with Ceragon's founder and chairman, Mr. Zisapel…[including that] Ms. Langer and Mr. Ripstein [have] each served in various positions, including general counsel and CEO, respectively, at other Rad-Bynet group companies established by Mr. Zisapel." Unfortunately, this is not the first time that Glass Lewis has expressed similar concerns. In its report issued in connection with Ceragon's 2021 Annual Meeting, Glass Lewis also raised its concerns about a lack of independence on the Board and recommended opposing the election of Ms. Langer, specifically citing "related party transactions between the Company and Mr. Zisapel's Rad-Bynet group." Since then, the Board has done nothing to address the apparent governance shortfalls, which have now cost shareholders dearly. It is time that the Board stop ignoring significant and valid concerns about governance and act with independence.
In its report, Glass Lewis called out Ceragon's track record of underperformance and unwillingness to change course due to the Board's lack of independence. The report also recognizes that Aviat's proposal offers a fair value for Ceragon and would likely provide more value to shareholders than the Company's standalone strategy:
- "Purely from a valuation perspective, we believe Aviat's revised proposal is sufficiently within a range of fair value to warrant more serious, advanced and constructive discussions with respect to the proposal than it appears Ceragon has been willing to enter into to date. In our view, a more welcoming stance, good faith discussions regarding the potential benefits of a combination and the sharing of due diligence information could facilitate a reasonably acceptable outcome for all parties involved, possibly even resulting in an improvement in terms for Ceragon and its shareholders."
- "During the five years preceding Aviat's offer, Ceragon delivered a negative return of -16.4%, while Aviat generated a return of 180.8% and the other five peer companies delivered an average return of 63.3%. In just the last three years, Ceragon's TSR was an even worse -30.1% and Aviat's TSR was an even better 290.2%, while the other peers averaged a nil return over that period (Source: S&P Capital IQ). This analysis suggests that investors have consistently been unwilling to buy into value-creation narratives promulgated by Ceragon management and the board. We see little reason to expect this to change."
- "Were Ceragon shareholders to hitch their wagons to Aviat, which Aviat's proposal enables them to do via the stock component of the offered consideration, they might find themselves better off."
Although Ceragon likes to claim that it is undervalued, Glass Lewis agrees with Aviat that "[analysts'] price targets are aspirational, particularly in light of Ceragon's recent operational performance, other challenges and industry-wide supply chain issues." Glass Lewis notes that it would not be unusual for Ceragon analysts to lower price targets following a meaningful decline in the Company's trading price, as they have been shown to do in the past.
"Glass Lewis has validated our serious concern that Ceragon's Board lacks independence and is therefore unable to fulfill its fiduciary duty to act in the best interests of all shareholders," said Aviat President and CEO Peter Smith. "Furthermore, Glass Lewis recognizes that this lack of independence has led the Ceragon Board to fail in fully and objectively evaluating our proposal, which the report notes offers a fair value in light of Ceragon's long history of underperformance."
Mr. Smith added, "Both Glass Lewis and ISS have now recognized the conflicts that plague Ceragon's Board. Given Cergaon's anti-shareholder charter, if not removed next Tuesday, these same directors will not face reelection until 2024, despite their failure to negotiate a deal and continued poor performance at the Company. In fact, if not removed, these directors may become further emboldened to favor the interests of Mr. Zisapel and their own positions over the interests of shareholders. Shareholders can stand by and continue to allow this Board to shirk its responsibilities and oversee the woeful destruction of value, or they can push for Board change now and elect truly independent directors that will be motivated only by their fiduciary responsibility and explore all avenues to create value. We urge shareholders to vote FOR ALL FIVE of Aviat's director nominees on the GOLD proxy card and remove the conflicted directors that continue to put their own interests first."
YOUR VOTE IS CRUCIAL. For further information on how your vote FOR ALL FIVE Aviat's director nominees can maximize shareholder value, please visit ValueForCeragon.com.
Aviat Networks, Inc. is the leading expert in wireless transport solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high-performance products, simplified operations, and the best overall customer experience. Aviat Networks is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Twitter, Facebook and LinkedIn.
The information contained in this document includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include, without limitations, statements regarding the proposed transaction between Aviat and Ceragon, the results of the requested extraordinary general meeting of shareholders of Ceragon, Ceragon's actions in connection therewith, and any potential related litigation. All statements, trend analyses and other information contained herein regarding the foregoing beliefs and expectations, as well as about the markets for the services and products of Aviat and trends in revenue, and other statements identified by the use of forward-looking terminology, including, without limitation, "anticipate," "believe," "plan," "estimate," "expect," "goal," "will," "see," "continue," "delivering," "view," and "intend," or the negative of these terms or other similar expressions, constitute forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, forward-looking statements are based on estimates reflecting the current beliefs, expectations and assumptions of the senior management of Aviat regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include the following:
- the impact of COVID-19 on our business, operations and cash flows;
- continued price and margin erosion as a result of increased competition in the microwave transmission industry;
- our ability to realize the anticipated benefits of any proposed or recent acquisitions, including our proposed transaction with Ceragon, within the anticipated timeframe or at all, including the risk that proposed or recent acquisitions will not be integrated successfully;
- the results of the extraordinary general meeting of Ceragon's shareholders;
- the impact of the volume, timing, and customer, product, and geographic mix of our product orders;
- the timing of our receipt of payment for products or services from our customers;
- our ability to meet projected new product development dates or anticipated cost reductions of new products;
- our suppliers' inability to perform and deliver on time as a result of their financial condition, component shortages, the effects of COVID-19 or other supply chain constraints;
- the effects of inflation and the timing and extent of changes in the prices and overall demand for and availability of our inputs;
- customer acceptance of new products;
- the ability of our subcontractors to timely perform;
- weakness in the global economy affecting customer spending;
- retention of our key personnel;
- our ability to manage and maintain key customer relationships;
- uncertain economic conditions in the telecommunications sector combined with operator and supplier consolidation;
- our failure to protect our Intellectual property rights or defend against Intellectual property infringement claims by others;
- the results of our restructuring efforts;
- the ability to preserve and use our net operating loss carryforwards;
- the effects of currency and interest rate risks;
- the effects of current and future government regulations, including the effects of current restrictions on various commercial and economic activities in response to the COVID-19 pandemic;
- general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States and other countries where we conduct business;
- the conduct of unethical business practices in developing countries;
- the impact of political turmoil in countries where we have significant business;
- the impact of tariffs, the adoption of trade restrictions affecting our products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; and
- Aviat's ability to implement our stock repurchase program or the extent to which it enhances long-term stockholder value.
For more information regarding the risks and uncertainties for Aviat's business, see "Risk Factors" in Aviat's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") on August 25, 2021, as well as other reports filed by Aviat with the SEC from time to time. Aviat does not undertake any obligation to update publicly any forward-looking statement, whether written or oral, for any reason, except as required by law, even as new information becomes available or other events occur in the future.
This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933 or an exemption therefrom.
In connection with any transaction between Aviat and Ceragon that involves the issuance of Aviat shares to the Ceragon shareholders, Aviat will file a registration statement with the SEC. INVESTORS ARE URGED TO READ THE REGISTRATION STATEMENT, ANY AMENDMENTS THERETO AND OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. Investors will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC's web site at www.sec.gov.
Investor Contacts
Aviat Networks
Andrew Fredrickson
+1-408-501-6214
andrew.fredrickson@aviatnet.com
Okapi Partners LLC
Bruce Goldfarb / Chuck Garske / Teresa Huang
+1-212-297-0720
info@okapipartners.com
Media Contact
Abernathy MacGregor
Sydney Isaacs / Jeremy Jacobs
+1-212-371-5999
sri@abmac.com / jrj@abmac.com
1 Permission to use quotations from Glass Lewis was neither sought nor obtained. Emphasis added.
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CHICAGO, Aug. 18, 2022 /PRNewswire/ -- JBT Corporation (NYSE: JBT), a global technology solutions provider to high-value segments of the food and beverage industry, announced today that Carlos Fernandez has been appointed Executive Vice President, Customer Sustainability and Market Development. Concurrently, Augusto Rizzolo has been promoted to Executive Vice President and President, Diversified Food and Health, a division of the company's FoodTech segment. Both positions are effective October 1, 2022.
"I am excited to announce that Carlos Fernandez, currently Executive Vice President and President, Diversified Food and Health, is stepping into a newly created executive role that partners with our customers to support their sustainability goals, while enhancing new product and end market development opportunities in support of growth," said Brian Deck, President and Chief Executive Officer. "As part of our Elevate 2.0 strategy, JBT's goal is to ensure our customers have the right technology and solutions to meet the evolving demands of the food and beverage industry and achieve their sustainability goals. Carlos' extensive knowledge of the food production industry and deep customer relationships make him the ideal fit for this position."
"As Carlos transitions to his new role, I am pleased to announce the promotion of Augusto Rizzolo to Executive Vice President and President, Diversified Food and Health," added Deck. "Augusto is a valuable addition to the executive team as he has demonstrated exceptional leadership and business acumen, making a significant impact on financial and operational performance as a business leader for JBT."
Since July 2020, Augusto has led JBT's Protein North America business. He joined JBT in September 2019 where he served as Vice President, Customer Care for Protein North America. Augusto has extensive experience in international and cross functional business and process improvements, engineering, marketing, product development, and operations, having held various roles at Marmon Holdings, ITW, and Whirlpool. Augusto holds a BSc in Mechanical and Industrial Engineering from Politecnico di Torino and an MBA from the University of Illinois Urbana-Champaign.
Investors & Media: Kedric Meredith +1 312 861 6034
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SOURCE JBT Corporation | https://www.whsv.com/prnewswire/2022/08/18/jbt-corporation-announces-new-appointments-carlos-fernandez-augusto-rizzolo/ | 2022-08-18T21:45:45Z |
CLEVELAND, Aug. 18, 2022 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced plans to host conference calls to review quarterly financial results on the following dates:
- Fourth quarter 2022 – Thursday, January 19th at 10:00am ET
- First quarter 2023 – Thursday, April 20th at 10:00am ET
- Second quarter 2023 – Thursday, July 20th at 10:00am ET
- Third quarter 2023 – Thursday, October 19th at 10:00am ET
The financial results are scheduled to be released before the market opens on the dates noted above, and the live audio webcast of the conference call and presentation materials will be available at www.key.com/ir. Dial-in information will be provided at a later date. If you are unable to join any of the live conference calls, or wish to hear a re-broadcast, access www.key.com/ir and select Quarterly Earnings Results.
For more information contact:
Investor Relations: Vernon Patterson, 216.689.0520, vernon_patterson@keybank.com
Investor Relations: Melanie Kaiser, 216.689.4545, melanie_s_kaiser@keybank.com
Media: Susan Donlan, 216.471.3133, susan_e_donlan@keybank.com
KeyCorp's roots trace nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187.0 billion at June 30, 2022. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.
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SOURCE KeyCorp | https://www.whsv.com/prnewswire/2022/08/18/keycorp-announces-2023-quarterly-earnings-conference-call-dates/ | 2022-08-18T21:45:51Z |
MADISON, N.J., Aug. 18, 2022 /PRNewswire/ -- Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services (formerly known as Realogy Holdings Corp.), this week announced that 49 of its affiliated agents have been featured on the LGBTQ+ Real Estate Alliance Top Producers list, spanning across the company's industry-leading brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, and Sotheby's International Realty®. In its second year, the list honors 236 individual member agents and teams, an increase of 20 percent over last year's inaugural list, which combined for 10,940 transaction sides in 2021 and $4.85 billion in volume.
"It's so gratifying to see the growth not only in the Anywhere representation on the LGBTQ+ Real Estate Alliance Top Producers list, but also of the list as a whole," said Sue Yannaccone, president and chief executive officer, Anywhere Brands. "The presence of more high-producing, influential LGBTQ+ agents and allies than ever is a measure of progress in the Alliance's mission to build a more representative and equitable real estate industry."
The 49 featured Anywhere-affiliated agents make up almost 21 percent of the list across brands including Sotheby's International Realty (19), Coldwell Banker (17), Century 21 (11), and Better Homes and Gardens Real Estate (2). Anywhere-affiliated agents represent the majority of the top 25 producing agents as measured by individual transaction sides.
Anywhere was a founding partner of the Alliance and a sponsor of the LGBTQ+ Real Estate Alliance Top Producers list, which recognizes members who generated at least 25 transaction sides or $10 million in sales volume in 2021. Teams with leaders who are Alliance members also qualified with at least 40 transaction sides and $15 million in sales volume last year. RealTrends compiled the list for The Alliance utilizing its RealTrends + Tom Ferry America's Best Real Estate Professionals report, combined with member entries.
As one of the largest full service residential real estate services companies in the U.S., Anywhere is dedicated to creating a culture of diversity, equity, and inclusion, and is a vocal advocate for equal opportunity and fair housing. In June, the company officially completed its corporate rebrand from Realogy to Anywhere, signifying a strategic emphasis on building a more frictionless and digitized home buying and selling experience for any consumer, anywhere. The transformation also represents the company's mission to further move its culture and talent strategy into the future – empowering employees' growth anywhere in their career journey.
Read more about Anywhere and its commitment to diversity, equity, and inclusion in its 2021 CSR Report. For more information, please visit anywhere.re and follow Anywhere on social media by visiting its LinkedIn, Twitter, Facebook, and Instagram pages.
Anywhere Real Estate Inc. (NYSE: HOUS) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, the Company supported approximately 1.5 million home transactions in 2021. The Company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, the Company fuels the productivity of its approximately 197,600 independent sales agents in the U.S. and approximately 140,600 independent sales agents in 119 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, the Company has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2021 Top Companies in the U.S., and honored on the Forbes list of World's Best Employers 2021.
The LGBTQ+ Real Estate Alliance is a 501(c)6 non-profit dedicated to empowering the LGBTQ+ community on the path to homeownership as we also advocate on behalf of the community on housing issues. The Alliance, founded in June 2020, is an all-inclusive organization that works to improve the professional lives of its members through a public-facing Alliance Referral Community. The Alliance began accepting members in October 2020 and has more than 2,600 members and dozens chapters in North America. It was named the 2022 Inman News Innovator of the Year in the MLS, Association, or Industry Organization category. For more information visit realestatealliance.org.
Media Contacts:
Brianna Patrizio
Brianna.patrizio@anywhere.re
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SOURCE Anywhere Real Estate Inc. | https://www.whsv.com/prnewswire/2022/08/18/lgbtq-real-estate-alliance-releases-second-annual-top-producers-list-featuring-49-anywhere-affiliated-agents/ | 2022-08-18T21:45:58Z |
HARRISBURG, Pa., Aug. 18, 2022 /PRNewswire/ -- LINKBANCORP, Inc. (OTC Pink: LNKB), announced today that its Board of Directors has declared a quarterly cash dividend of $0.075 per share of common stock to shareholders of record at the close of business on August 31, 2022, payable on September 15, 2022.
Chief Executive Officer Andrew Samuel commented, "Our shareholders are a critical piece in our company's growth trajectory and helping us further our mission of positively impacting lives. We are pleased by the opportunity to consistently deliver additional value to our shareholders through a regular quarterly dividend."
ABOUT LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, The Gratz Bank, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Central and Southeastern Pennsylvania through 10 client solutions centers of The Gratz Bank and LINKBANK, a division of The Gratz Bank. LINKBANCORP, Inc. common stock is traded over the counter (OTC Pink) under the symbol "LNKB".
CONTACT:
Nicole Ulmer
(717) 803-8895
ir@linkbancorp.com
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SOURCE LINKBANCORP, Inc. | https://www.whsv.com/prnewswire/2022/08/18/linkbancorp-inc-declares-quarterly-dividend/ | 2022-08-18T21:46:05Z |
DENVER, Aug. 18, 2022 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) today announced that its Board of Directors voted to declare a regular quarterly cash dividend of $0.25 cents per share. The dividend is payable Friday September 9, 2022, to shareholders of record at the close of business on Tuesday August 30, 2022. The ex-dividend date will be Monday August 29, 2022.
Lumen Technologies Inc. (NYSE: LUMN) is guided by our belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, we deliver the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.
Learn more about the Lumen network, edge cloud, security, communication and collaboration solutions and our purpose to further human progress through technology at news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies. Lumen and Lumen Technologies are registered trademarks of Lumen Technologies LLC in the United States. Lumen Technologies LLC is a wholly-owned affiliate of Lumen Technologies, Inc.
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SOURCE Lumen Technologies, Inc. | https://www.whsv.com/prnewswire/2022/08/18/lumen-technologies-declares-quarterly-cash-dividend/ | 2022-08-18T21:46:11Z |
Magicbox Semi Trailer Transforms into LED Volume in Minutes
LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- In what has been lauded as a revolutionary development in virtual production, Brian T. Nowac, CEO of Magicbox, will introduce the world's first-ever mobile virtual production Superstudio at an exclusive launch event hosted by Stargate Studios in South Pasadena on August 19.
According to Nowac, the mission of the Magicbox is to make motion picture technology accessible to any content producer. The patent pending design is a semi trailer that transforms into an LED volume and computer control center in minutes.
"Our goal at Magicbox is to democratize technology, by building a platform of affordable solutions and making them accessible to everyone," Nowac said. "The Magicbox prototype will revolutionize motion picture and video productions by making it easier for them to produce more creative content, faster, cheaper, and safer than ever possible before."
Nowac and his team have spent the last two years working with virtual production experts, including industry pioneer Sam Nicholson, CEO of Stargate Studios, to analyze modern virtual production and the ways in which it can be utilized more effectively by content producers.
Modern virtual production, inside LED volumes, has disrupted the entertainment industry by making productions faster, less expensive, and safer by providing content producers with more control of the production process.
Sam Nicholson, calls Magicbox a high-tech origami that unfolds in a parking lot. "Magicbox is the only virtual production system that I have worked with that can set up, shoot, and strike in a 12-hour day," he continued.
The Magicbox launch event will take place on Friday, August 19, from 6pm to 10pm.
For more information about Magicbox, please contact Brian T. Nowac at brian@magicbox.ninja.
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SOURCE Magicbox | https://www.whsv.com/prnewswire/2022/08/18/magicbox-launches-worlds-first-ever-mobile-virtual-production-superstudio/ | 2022-08-18T21:46:18Z |
--Record EU DG revenues, high-volume shipments commenced for US Utility-Scale--
-- Maxeon 7 ready to scale with funding secured --
SINGAPORE, Aug. 18, 2022 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) ("Maxeon" or "the Company"), a global leader in solar innovation and channels, today announced its financial results for the second quarter ended July 3, 2022.
Maxeon's Chief Executive Officer Jeff Waters noted, "Demand for our technology continues to strengthen, in part because of our direct-to-installer model in DG and our exposure to the US utility-scale business. The DG business posted another record for EU revenues based on higher volume, panel price increases and growing Beyond the Panel mix. In the US, we completed our first direct deliveries to commercial customers and began building the domestic sales team for our residential channel. Utility-scale demand is another bright spot in the US where we added another 1.2 gigawatts of bookings and executed our first contract with price adjustment mechanisms designed to ensure we secure margins consistent with our long-term financial model."
Commenting on result of the Company's fund raising effort, Waters added, "We recently announced a $207 million private convertible bond issuance to our significant shareholder TZE. This transaction will provide the necessary funding for our Maxeon 7 conversion project in the Philippines and Mexico, among other things. This transaction also highlights TZE's continued commitment to, and confidence in, Maxeon's success."
Continued Waters, "In the second quarter of 2022, Maxeon executed further on our multi-year capacity transformation with notable progress on Maxeon 6, Maxeon 7 and our North America Performance Line. We've produced our last ever Maxeon 5 module and are on track to have a fully utilized half gigawatt of Maxeon 6 capacity later this year. The Maxeon 7 pilot line achieved its performance targets and, with funding recently secured, we now plan to scale the technology. Our Performance Line remains on track to reach 1.8 gigawatts early next year and based on recent passage of the Inflation Reduction Act, we are accelerating plans to add an incremental 3 gigawatts in the US."
Third Quarter 2022 Outlook
For the third quarter of 2022, the Company anticipates the following results:
These anticipated results for the third quarter of 2022 are preliminary, unaudited and represent the most current information available to management. The Company's business outlook is based on management's current views and estimates with respect to market conditions, production capacity, the uncertainty of the continuing impact of the COVID-19 pandemic, and the global economic environment. Please refer to Forward Looking Statements section below. Management's views and estimates are subject to change without notice.
For more information
Maxeon's second quarter 2022 financial results and management commentary can be found on Form 6-K by accessing the Financials & Filings page of the Investor Relations section of Maxeon's website at: https://corp.maxeon.com/investor-relations. The Form 6-K and Company's other filings are also available online from the Securities and Exchange Commission at www.sec.gov.
Conference Call Details
The Company will hold a conference call on August 18, 2022, at 5:30 PM U.S. ET / August 19, 2022, at 5:30 AM Singapore Time, to discuss results and to provide an update on the business.
To join the live conference call, participants must first register here, where a dial-in number will be provided.
A simultaneous webcast of the conference call will be available on Maxeon's website at https://corp.maxeon.com/events-and-presentations. A webcast replay will be available on Maxeon's website for one year at https://corp.maxeon.com/events-and-presentations.
About Maxeon Solar Technologies
Maxeon Solar Technologies Ltd (NASDAQ: MAXN) is Powering Positive ChangeTM. Headquartered in Singapore, Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in more than 100 countries, operating under the SunPower brand in certain countries outside the United States. The Company is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,700 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a +35-year history in the solar industry and numerous awards for its technology. For more information about how Maxeon is Powering Positive ChangeTM visit us at https://www.maxeon.com/, on LinkedIn and on Twitter @maxeonsolar.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: (a) our expectations regarding pricing trends, demand and growth projections; (b) potential disruptions to our operations and supply chain that may result from epidemics, natural disasters or military conflicts, including the duration, scope and impact on the demand for our products, market disruptions from the war in Ukraine and the pace of recovery from the COVID-19 pandemic; (c) anticipated product launch timing and our expectations regarding ramp, customer acceptance and demand, upsell and expansion opportunities; (d) our expectations and plans for short- and long-term strategy, including our anticipated areas of focus and investment, market expansion, product and technology focus, and projected growth and profitability; (e) our ability to meet short term and long term material cash requirements including our obligations under the long-term polysilicon supply agreement, our ability to complete an equity or debt offering at favorable terms, if at all, and our overall liquidity, substantial indebtedness and ability to obtain additional financing; (f) our technology outlook, including anticipated fab utilization and expected ramp and production timelines for the Company's Maxeon 5 and 6, next-generation Maxeon 7 and Performance line solar panels, expected cost reductions, and future performance; (g) our strategic goals and plans, including partnership discussions with respect to the Company's next-generation technology, and our relationships with existing customers, suppliers and partners, and our ability to achieve and maintain them; (h) our expectations regarding our future performance and revenues resulting from contracted orders, bookings, backlog, and pipelines in our sales channels; (i) our third quarter fiscal year 2022 guidance, including shipments, revenue, gross profit, non-GAAP gross profit, operating expenses, non-GAAP operating expenses, Adjusted EBITDA, capital expenditures, out-of-market polysilicon cost, and related assumptions; and (j) our projected effective tax rate and changes to the valuation allowance related to our deferred tax assets.
The forward-looking statements can be also identified by terminology such as "may," "might," "could," "will," "aims," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and Maxeon's operations and business outlook contain forward-looking statements.
These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks. The reader should not place undue reliance on these forward-looking statements, as there can be no assurances that the plans, initiatives or expectations upon which they are based will occur. Factors that could cause or contribute to such differences include, but are not limited to: (1) challenges in executing transactions key to our strategic plans, including regulatory and other challenges that may arise; (2) our liquidity, substantial indebtedness, terms and conditions upon which our indebtedness is incurred and ability to obtain additional financing for our projects, customers and operations; (3) our ability to manage supply chain cost increases and operating expenses; (4) potential disruptions to our operations and supply chain that may result from damage or destruction of facilities operated by our suppliers, difficulties in hiring or retaining key personnel, epidemics, natural disasters, including impacts of the COVID-19 pandemic, or the war in Ukraine; (5) our ability to manage our key customers and suppliers; (6) the success of our ongoing research and development efforts and our ability to commercialize new products and services, including products and services developed through strategic partnerships; (7) competition in the solar and general energy industry and downward pressure on selling prices and wholesale energy pricing, including impacts of inflation and foreign exchange rates upon customer demand; (8) changes in regulation and public policy, including the imposition and applicability of tariffs; (9) our ability to comply with various tax holiday requirements as well as regulatory changes or findings affecting the availability of economic incentives promoting use of solar energy and availability of tax incentives or imposition of tax duties; (10) fluctuations in our operating results and in the foreign currencies in which we operate; (11) appropriately sizing, or delays in expanding, our manufacturing capacity and containing manufacturing and logistics difficulties that could arise; (12) unanticipated impact to customer demand and sales schedules due, among other factors, to the spread of COVID-19, the war in Ukraine and other environmental disasters; (13) challenges managing our acquisitions, joint ventures and partnerships, including our ability to successfully manage acquired assets and supplier relationships; (14) reaction by securities or industry analysts to our quarterly guidance which, in combination with our results of operations, may cause them to cease publishing research or reports about us, or adversely change their recommendations regarding our ordinary shares, which may negatively impact the market price of our ordinary shares and volume of our stock trading; and (15) unpredictable outcomes resulting from our litigation activities or other disputes. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Risk Factors". Copies of these filings are available online from the SEC at www.sec.gov, or on the SEC Filings section of our Investor Relations website at https://corp.maxeon.com/investor-relations. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
Use of Non-GAAP Financial Measures
We present certain non-GAAP measures such as non-GAAP gross loss, non-GAAP operating expenses and earnings before interest, taxes, depreciation and amortization ("EBITDA") adjusted for stock-based compensation, restructuring charges and fees, remeasurement loss on prepaid forward and physical delivery forward, loss on extinguishment of debt, impairment and equity in losses of unconsolidated investees ("Adjusted EBITDA") to supplement our consolidated financial results presented in accordance with GAAP. Non-GAAP gross loss is defined as gross loss excluding stock-based compensation. Non-GAAP operating expenses is defined as operating expenses excluding stock-based compensation and restructuring charges and fees.
We believe that non-GAAP gross loss, non-GAAP operating expenses and Adjusted EBITDA provide greater transparency into management's view and assessment of the Company's ongoing operating performance by removing items management believes are not representative of our continuing operations and may distort our longer-term operating trends. We believe these measures are useful to help enhance the comparability of our results of operations across different reporting periods on a consistent basis and with our competitors, distinct from items that are infrequent or not associated with the Company's core operations as presented above. We also use these non-GAAP measures internally to assess our business, financial performance and current and historical results, as well as for strategic decision-making and forecasting future results. Given our use of non-GAAP measures, we believe that these measures may be important to investors in understanding our operating results as seen through the eyes of management. These non-GAAP measures are neither prepared in accordance with GAAP nor are they intended to be a replacement for GAAP financial data, should be reviewed together with GAAP measures and may be different from non-GAAP measures used by other companies.
As presented in the "Reconciliation of Non-GAAP Financial Measures" section, each of the non-GAAP financial measures excludes one or more of the following items in arriving to the non-GAAP measures:
- Stock-based compensation expense. Stock-based compensation relates primarily to equity incentive awards. Stock-based compensation is a non-cash expense that is dependent on market forces that are difficult to predict and is excluded from non-GAAP gross loss, non-GAAP operating expense and Adjusted EBITDA. Management believes that this adjustment for stock-based compensation expense provides investors with a basis to measure our core performance, including the ability to compare our performance with the performance of other companies, without the period-to-period variability created by stock-based compensation.
- Restructuring charges and fees. We incur restructuring charges and fees related to reorganization plans aimed towards realigning resources consistent with our global strategy and improving its overall operating efficiency and cost structure. Restructuring charges and fees are excluded from non-GAAP operating expenses and Adjusted EBITDA because they are not considered core operating activities. Although we have engaged in restructuring activities and initiatives, past activities have been discrete events based on unique sets of business objectives. As such, management believes that it is appropriate to exclude restructuring charges and fees from our non-GAAP financial measures as they are not reflective of ongoing operating results nor do these charges contribute to a meaningful evaluation of our past operating performance.
- Remeasurement loss on prepaid forward and physical delivery forward. This relates to the mark-to-market fair value remeasurement of privately negotiated prepaid forward and physical delivery transactions. The transactions were entered into in connection with the issuance on July 17, 2020 of the 6.50% Green Convertible Senior Notes due 2025 for an aggregate principal amount of $200 million. The prepaid forward is remeasured to fair value at the end of each reporting period, with changes in fair value booked in earnings. The fair value of the prepaid forward is primarily affected by the Company's share price. The physical delivery forward was remeasured to fair value at the end of the Note Valuation Period on September 29, 2020, and was reclassified to equity after remeasurement, and will not be subsequently remeasured. The fair value of the physical delivery forward was primarily affected by the Company's share price. The remeasurement loss on prepaid forward and physical delivery forward is excluded from Adjusted EBITDA because it is not considered core operating activities. As such, management believes that it is appropriate to exclude the mark-to-market adjustments from our Adjusted EBITDA as it is not reflective of ongoing operating results nor do the loss contribute to a meaningful evaluation of our past operating performance.
- Impairment. This relates to the impairment of assets recorded by our equity method investee, Huansheng Photovoltaic (Jiangsu) Co., Ltd ("Huansheng JV"). Asset impairment is excluded from our Adjusted EBITDA financial measure as it is non-cash in nature and not reflective of ongoing operating results. As such, management believes that it is appropriate to exclude such charges as they do not contribute to a meaningful evaluation of our past operating performance.
- Equity in losses of unconsolidated investees. This relates to the loss on our unconsolidated equity investment Huansheng JV. This is excluded from our Adjusted EBITDA financial measure as it is non-cash in nature and not reflective of our core operational performance. As such, management believes that it is appropriate to exclude such charges as they do not contribute to a meaningful evaluation of our performance.
- Loss related to settlement of price escalation dispute. This relates to loss arising from the settlement of price escalation dispute with a polysilicon supplier related to our long-term, firm commitment polysilicon supply agreement. This is excluded from our Adjusted EBITDA financial measure as it is non-recurring and not reflective of ongoing operating results. As such, management believes that it is appropriate to exclude such charges as the loss does not contribute to a meaningful evaluation of our past operating performance.
©2022 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit https://corp.maxeon.com/trademarks for more information.
The following table reconciles our cash and cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets and the cash, cash equivalents and restricted cash reported on our Condensed Consolidated Statements of Cash Flows as of July 3, 2022 and July 4, 2021:
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SOURCE Maxeon Solar Technologies, Ltd. | https://www.whsv.com/prnewswire/2022/08/18/maxeon-solar-technologies-announces-second-quarter-2022-financial-results/ | 2022-08-18T21:46:25Z |
WASHINGTON, Aug. 18, 2022 /PRNewswire/ -- NASA will host a media teleconference at 1:30 p.m. CDT Thursday, Aug. 25, to discuss the agency's tools, resources, and science research available to the agriculture community.
As record drought conditions continue across parts of the U.S., straining American food producers, NASA's Earth Science Division is meeting with producers and representatives in Nebraska and Kansas. Farmers and other agricultural producers in the U.S. Corn Belt and across the country regularly make decisions about water management, planting, and market decisions based on NASA data delivered by partner agencies and organizations.
Audio of the briefing will livestream on NASA's website.
The teleconference participants include:
- Karen St. Germain, Earth Science Division director at NASA Headquarters in Washington
- Brad Doorn, program manager, water resources and agriculture, NASA Earth Science Division
- Seth Myer, chief economist, U.S. Department of Agriculture
- Zach Hunnicutt, owner of Hunnicutt Farms
- Brian Wardlow, director, Center for Advanced Land Management Information Technologies, University of Nebraska Lincoln
During the teleconference, media will learn more about the information, tools, and resources drawn from NASA's Earth observation satellites and science research, how these are applied to agriculture, and how NASA is working with partners to address data gaps and plan for the future.
Media interested in participating should request the dial in-details at least two hours prior to the start of the call by sending their full name, media affiliation, email address, and phone number to Aries Keck at: aries.keck@nasa.gov. NASA's media accreditation policy is available online.
NASA's vantage point from space gives the agency a unique view of our home planet. For more than 50 years, NASA satellites have provided open-source and publicly available data on Earth's land, water, temperature, weather, and climate. By engaging with an agricultural community adapting to changes in weather and water cycles, NASA can learn about emerging needs and demands to shape future missions. The goal is to put NASA's Earth science data into the hands of America's farmers to help them increase food security, improve crop resilience, and reduce the volatility of food prices.
More information about NASA's work in agriculture is available at:
https://appliedsciences.nasa.gov
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SOURCE NASA | https://www.whsv.com/prnewswire/2022/08/18/media-invited-learn-about-nasa-tools-resources-agriculture/ | 2022-08-18T21:46:32Z |
DUBLIN, Aug. 18, 2022 /PRNewswire/ -- The board of directors of Medtronic plc (NYSE:MDT) on Thursday, August 18, 2022, approved the fiscal year 2023 second quarter cash dividend of $0.68 per ordinary share, representing an 8% increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in May 2022. Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 45 consecutive years. The dividend is payable on October 14, 2022, to shareholders of record at the close of business on September 23, 2022.
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
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SOURCE Medtronic plc | https://www.whsv.com/prnewswire/2022/08/18/medtronic-announces-cash-dividend-second-quarter-fiscal-year-2023/ | 2022-08-18T21:46:38Z |
CARMEL, Ind., Aug. 18, 2022 /PRNewswire/ -- Merchants Bancorp ("Merchants") (Nasdaq: MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the third quarter of 2022, in each case to shareholders of record on September 15, 2022, payable on October 3, 2022:
- A dividend of $0.07 per share on the Company's outstanding shares of its common stock (NASDAQ:MBIN);
- A dividend of $0.4375 per share on the Company's outstanding shares of its 7% Series A preferred stock (NASDAQ:MBINP);
- A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Company's outstanding shares of its 6% Series B preferred stock (NASDAQ:MBINO);
- A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Company's outstanding shares of its 6% Series C preferred stock (NASDAQ:MBINN).
ABOUT MERCHANTS BANCORP
Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking. Merchants Bancorp, with $11.1 billion in assets and $8.3 billion in deposits as of June 30, 2022, conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Farmers-Merchants Bank of Illinois, and Merchants Mortgage, a division of Merchants Bank of Indiana. For more information and financial data, please visit Merchants' Investor Relations page at investors.merchantsbancorp.com.
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SOURCE Merchants Bancorp | https://www.whsv.com/prnewswire/2022/08/18/merchants-bancorp-declares-quarterly-common-preferred-dividends/ | 2022-08-18T21:46:45Z |
Miller Ink's appointment to list of industry leaders affirms its commitment to employee well-being
LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- This week, Miller Ink, a strategic and crisis communications firm, announced that it has been named to the Los Angeles Business Journal's list of the "Best Places to Work." The Los Angeles Business Journal compiles an annual list of organizations in Southern California that score highly on measures of employee engagement and satisfaction and named Miller Ink as one of this year's top performers in the small-size company category.
"I am thrilled that Miller Ink has been recognized for its commitment to building an organization that promotes positivity, accountability, and excellence—and for building an environment in which all employees can grow and thrive," said Miller Ink Founder and CEO Nathan Miller.
Miller Ink was recognized by the Los Angeles Business Journal after its diverse team of communications professionals completed anonymous surveys, rating the organization on a variety of employment-related metrics. The Los Angeles Business Journal and Workforce Research Group created this sixteenth annual program and survey to identify, recognize and honor the best employers in Los Angeles.
This announcement comes as Miller Ink continues to grow its team and help its clients find their voices, tell their stories, and achieve their goals.
About Miller Ink: Miller Ink is a strategic communications and crisis management firm based in Los Angeles that helps high-profile individuals, nonprofits, and companies—as well as the attorneys, accountants, and advisors who serve them—achieve their public relations goals.
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SOURCE MILLER INK | https://www.whsv.com/prnewswire/2022/08/18/miller-ink-named-los-angeles-business-journals-best-places-work-list/ | 2022-08-18T21:46:52Z |
WASHINGTON, Aug. 18, 2022 /PRNewswire/ -- NASA has selected four mission proposals submitted to the agency's Explorers Program for further study. The proposals include missions that would study exploding stars, distant clusters of galaxies, and nearby galaxies and stars.
Two Astrophysics Medium Explorer missions and two Explorer Missions of Opportunity have been selected to conduct mission concept studies. After detailed evaluation of those studies, NASA plans to select one Mission of Opportunity and one Medium Explorer in 2024 to proceed with implementation. The selected missions will be targeted for launch in 2027 and 2028, respectively.
"NASA's Explorers Program has a proud tradition of supporting innovative approaches to exceptional science, and these selections hold that same promise," said Thomas Zurbuchen, associate administrator for NASA's Science Mission Directorate at NASA Headquarters in Washington. "From studying the evolution of galaxies to explosive, high-energy events, these proposals are inspiring in their scope and creativity to explore the unknown in our universe."
NASA Explorer missions conduct focused scientific investigations and develop instruments that fill scientific gaps between the agency's larger space science missions. The proposals were competitively selected based on potential science value and feasibility of development plans.
The two Medium Explorer teams selected at this stage will each receive $3 million to conduct a nine-month mission concept study. Astrophysics Medium Explorer mission costs are capped at $300 million each, excluding the launch vehicle. The selected proposals are:
UltraViolet EXplorer (UVEX)
- UVEX would conduct a deep survey of the whole sky in two bands of ultraviolet light, to provide new insights into galaxy evolution and the lifecycle of stars. The spacecraft would have the ability to repoint rapidly to capture ultraviolet light from the explosion that follows a burst of gravitational waves caused by merging neutron stars. UVEX would carry an ultraviolet spectrograph for detailed study of massive stars and stellar explosions.
- Principal investigator: Fiona Harrison at Caltech in Pasadena, California
Survey and Time-domain Astrophysical Research Explorer (STAR-X)
- The STAR-X spacecraft would be able to turn rapidly to point a sensitive wide-field X-ray telescope and an ultraviolet telescope at transient cosmic sources, such as supernova explosions and active galaxies. Deep X-ray surveys would map hot gas trapped in distant clusters of galaxies; combined with infrared observations from NASA's upcoming Roman Space Telescope, these observations would trace how massive clusters of galaxies built up over cosmic history.
- Principal investigator: William Zhang at NASA's Goddard Space Flight Center in Greenbelt, Maryland
The two Mission of Opportunity teams selected at this stage will each receive $750,000 to conduct a nine-month implementation concept study. NASA Mission of Opportunity costs are capped at $80 million each. The selected proposals are:
Moon Burst Energetics All-sky Monitor (MoonBEAM)
- In its orbit between Earth and the Moon, MoonBEAM would see almost the whole sky at any time, watching for bursts of gamma rays from distant cosmic explosions and rapidly alerting other telescopes to study the source. MoonBEAM would see gamma rays earlier or later than telescopes on Earth or in low orbit, and astronomers could use that time difference to pinpoint the gamma-ray source in the sky.
- Principal investigator: Chiumun Michelle Hui at NASA's Marshall Space Flight Center in Huntsville, Alabama
A LargE Area burst Polarimeter (LEAP)
- Mounted on the International Space Station, LEAP would study gamma-ray bursts from the energetic jets launched during the formation of a black hole after the explosive death of a massive star, or in the merger of compact objects. The high-energy gamma-ray radiation can be polarized, or vibrate in a particular direction, which can distinguish between competing theories for the nature of the jets.
- Principal investigator: Mark McConnell at the University of New Hampshire in Durham
The Explorers Program is the oldest continuous NASA program. The program is designed to provide frequent, low-cost access to space using principal investigator-led space science investigations relevant to the Science Mission Directorate's astrophysics and heliophysics programs.
Since the launch of Explorer 1 in 1958, which discovered the Earth's radiation belts, the Explorers Program has launched more than 90 missions, including the Uhuru and Cosmic Background Explorer (COBE) missions that led to Nobel prizes for their investigators.
The program is managed by NASA Goddard for NASA's Science Mission Directorate in Washington, which conducts a wide variety of research and scientific exploration programs for Earth studies, space weather, the solar system, and the universe.
For more information about the Explorers Program, visit:
https://explorers.gsfc.nasa.gov
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SOURCE NASA | https://www.whsv.com/prnewswire/2022/08/18/nasa-selects-proposals-study-stellar-explosions-galaxies-stars/ | 2022-08-18T21:46:58Z |
- Company culture cultivates passioned innovation and purpose in employees to empower those impacted by epilepsy and other rare disorders
SAN DIEGO, Aug. 18, 2022 /PRNewswire/ -- Neurelis, Inc., is pleased to announce it has been named one of the Best Places to Work in SoCal 2022 by Best Companies Group (BCG), a BridgeTower Media Company. This distinction is based on responses from a detailed and comprehensive survey of its employees.
"Being named to this list is an incredible honor for all of us," said Neurelis Chief Executive Officer Craig Chambliss. "We are purposeful in our dedication to each other and those we serve. Many of our team members have a personal connection to epilepsy, which amplifies our responsibility to achieve our number one goal – improving the lives of those impacted by epilepsy."
BCG's annual award program identifies and honors the best places to work in Southern California. The ranking is based on anonymous employee surveys and an analysis of their responses about corporate culture, training and development, salary and benefits, and overall employee satisfaction.
"Neurelis is proud to have launched multiple initiatives that support and inspire our employees," said Shaun Winn, Senior Director, Human Resources, Neurelis. "These include mentorship opportunities, special committees like 'Women at Neurelis and their allies', The Culture Crew, Flex Time Off, company bought lunches, a Wellness Room, and embracing many Epilepsy events across the country, including events like EpiCon, a three-day convention aimed at empowering the epilepsy community."
The 136-member Neurelis team is committed to innovating life-changing treatments that empower people with epilepsy to take greater control over their day-to-day lives. The Company is committed to developing therapeutics for the treatment of epilepsy and other CNS disorders. The company's groundbreaking product, VALTOCO® (diazepam nasal spray) CIV, is an FDA-approved nasal spray for the treatment of frequent seizures in adult and pediatric patients ages 6 years and older.
"Southern California is known for innovation, and the companies that made our Best Places to Work SoCal list take a forward-looking approach to create workplaces of excellence," said Jaime Raul Zepeda, Executive Vice President of Best Companies Group. "Our research proves that Neurelis is committed to developing a highly engaged and valued workforce."
BCG will host a virtual awards ceremony honoring and celebrating the winners on Sept. 29. For a complete list of the Great Employers to Work for in SoCal 2022, please visit the Best Companies Group website at https://bestcompaniesgroup.com/best-places-to-work-southern-california/
Neurelis, Inc., is a commercial-stage neuroscience company focused on the development and commercialization of therapeutics for the treatment of epilepsy and orphan neurologic disorders characterized by high unmet medical need. In 2020, the FDA approved Neurelis' VALTOCO® (diazepam nasal spray) as an acute treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e., seizure clusters, acute repetitive seizures) that are distinct from an individual's usual seizure pattern in adult and pediatric patients 6 years of age and older. VALTOCO is a proprietary formulation of diazepam incorporating the science of INTRAVAIL®. Intravail's transmucosal absorption enhancement technology enables the noninvasive delivery of a broad range of protein, peptide and small-molecule drugs. In its approval of VALTOCO, the U.S. Food and Drug Administration also granted Neurelis Orphan Drug Exclusivity and recognized VALTOCO's intranasal route of administration as a clinically superior contribution to patient care over the previously approved standard-of-care treatment (a rectal gel formulation of diazepam). For more information on VALTOCO, please visit http://www.valtoco.com/. In addition to VALTOCO, Neurelis is developing NRL-2 for intermittent use to control acute panic attacks, NRL-3 as a noninvasive acute therapy to stop seizures that have progressed to status epilepticus, and NRL-4 as a noninvasive rescue therapy to address the escalation of acute agitation symptoms associated with schizophrenia and bipolar 1 mania in adults. In addition, Neurelis is developing NRL-1049 (previously known as BA-1049), an investigational, pre-clinical stage small molecule Rho kinase (ROCK) inhibitor, for the treatment of cerebral cavernous malformations (CCMS), a rare disorder of the central nervous system (CNS). For more information on Neurelis, please visit http://www.neurelis.com/. For the latest scientific information on VALTOCO, please visit http://www.neurelismedicalaffairs.com/.
VALTOCO® (diazepam nasal spray) is indicated for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e., seizure clusters, acute repetitive seizures) that are distinct from a patient's usual seizure pattern in patients with epilepsy 6 years of age and older.
- Concomitant use of benzodiazepines and opioids may result in profound sedation, respiratory depression, coma, and death. Reserve concomitant prescribing of these drugs for patients for whom alternative treatment options are inadequate. Limit dosages and durations to the minimum required. Follow patients for signs and symptoms of respiratory depression and sedation.
- The use of benzodiazepines, including VALTOCO, exposes users to risks of abuse, misuse, and addiction, which can lead to overdose or death. Abuse and misuse of benzodiazepines commonly involve concomitant use of other medications, alcohol, and/or illicit substances, which is associated with an increased frequency of serious adverse outcomes. Before prescribing VALTOCO and throughout treatment, assess each patient's risk for abuse, misuse, and addiction.
- The continued use of benzodiazepines may lead to clinically significant physical dependence. The risks of dependence and withdrawal increase with longer treatment duration and higher daily dose. Although VALTOCO is indicated only for intermittent use, if used more frequently than recommended, abrupt discontinuation or rapid dosage reduction of VALTOCO may precipitate acute withdrawal reactions, which can be life-threatening. For patients using VALTOCO more frequently than recommended, to reduce the risk of withdrawal reactions, use a gradual taper to discontinue VALTOCO.
- Hypersensitivity to diazepam
- Acute narrow-angle glaucoma
Benzodiazepines, including VALTOCO, may produce CNS depression. Caution patients against engaging in hazardous activities requiring mental alertness, such as operating machinery, driving a motor vehicle, or riding a bicycle, until the effects of the drug, such as drowsiness, have subsided, and as their medical condition permits.
The potential for a synergistic CNS-depressant effect when VALTOCO is used with alcohol or other CNS depressants must be considered, and appropriate recommendations made to the patient and/or care partner.
Antiepileptic drugs (AEDs), including VALTOCO, increase the risk of suicidal ideation and behavior. Patients treated with any AED for any indication should be monitored for the emergence or worsening of depression, suicidal thoughts or behavior, and/or unusual changes in mood or behavior.
Benzodiazepines, including VALTOCO, can increase intraocular pressure in patients with glaucoma. VALTOCO may only be used in patients with open-angle glaucoma only if they are receiving appropriate therapy. VALTOCO is contraindicated in patients with narrow-angle glaucoma.
VALTOCO is not approved for use in neonates or infants. Serious and fatal adverse reactions, including "gasping syndrome," can occur in neonates and low-birth-weight infants treated with benzyl alcohol-preserved drugs, including VALTOCO. The "gasping syndrome" is characterized by central nervous system depression, metabolic acidosis, and gasping respirations. The minimum amount of benzyl alcohol at which serious adverse reactions may occur is not known.
The most common adverse reactions (at least 4%) were somnolence, headache, and nasal discomfort.
To report SUSPECTED ADVERSE REACTIONS, contact Neurelis, Inc. at 1-866-696-3873 or FDA at 1-800-FDA-1088 (www.fda.gov/medwatch).
Please read full Prescribing Information, including Boxed Warning, for additional important safety information.
Contacts:
Neurelis:
Brittany Bradrick, Chief Financial Officer, +1 858 251 2135
Media:
Erich Sandoval, Finn Partners, + 1 917 497 2867
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SOURCE Neurelis, Inc. | https://www.whsv.com/prnewswire/2022/08/18/neurelis-inc-named-list-best-places-work-socal-2022/ | 2022-08-18T21:47:05Z |
BOCA RATON, Fla., Aug. 18, 2022 /PRNewswire/ -- Newsmax announced today that it has signed an exclusive US Hispanic ad sales partnership with El American.
Newsmax will serve as El American's digital marketing agent to reach conservative US Hispanics.
Jorge Granier Phelps, CEO El American said, "We believe the Newsmax Ad Sales team and broader brand integrity are uniquely positioned to accelerate El American's growth, while offering marketers a one-stop shop to reach conservative audiences."
"Hispanics are patriots, and many came here because they wanted a better life. Many US Hispanics fled their home countries, such as Cuba, Venezuela and Nicaragua, searching for freedom and opportunity, and are increasingly voting conservative."
A recent WSJ poll shows that Republicans have made rapid gains among a crucial voting demographic that has long favored Democrats, and that Hispanics are now evenly split between the parties.
Chris Ruddy, CEO Newsmax said, "US Hispanic conservatives deserve high-quality journalism that embraces faith, family, and entrepreneurship. We're delighted to empower El American's rapid growth to provide an underserved audience a voice they deserve."
About Newsmax
Newsmax Media, Inc. operates Newsmax, the nation's fourth highest-rated cable news network and a top 25 cable channel, according to Nielsen. Newsmax is carried on all major cable and satellite systems, and is also available in more than 100 million U.S. homes through most streaming platforms. Newsmax's media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, publications like Newsmax Magazine. Forbes has called Newsmax "a news powerhouse."
About El American
El American is the bilingual digital media platform focused on providing information, opinion, analysis and real journalism to the fastest growing audience in the United States: Hispanics. El American is consumed by conservative and libertarian Hispanics across the U.S. and has a monthly reach of over 5 million individuals, with more than 250 million interactions across social media. The company is set to launch a 24/7 nationally syndicated television network.
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SOURCE El American | https://www.whsv.com/prnewswire/2022/08/18/newsmax-el-american-sign-exclusive-us-hispanic-ad-sales-partnership/ | 2022-08-18T21:47:12Z |
Streaming live on YouTube, the best 28 riders in the world take to steep ski slopes and
compete for the crown of World Champion and a $10,000 prize purse.
RENO, Nev., Aug. 18, 2022 /PRNewswire/ -- Future Motion, maker of the popular Onewheel GT and Pint X electric boards, will host its biggest and most ambitious Championship competition to date, The Race for the Rail World Championships at Sky Tavern Resort August 20th and 21st. The world's best Onewheel riders will compete against one another in a boarder-cross style competition down steep, technical trails and over demanding natural and man-made features that include an epic 'truck jump'.
Viewers can stream the Women's and Men's races live on Onewheel's YouTube channel August 20th and 21st at 4pm PT. The broadcast is professionally produced by Transition Productions, presenter of the World Surf League and the Dew Tour events.
Over 400 riders competed for a spot in the event at Western and Eastern Qualifier events earlier this summer. Now, the field of riders at the Race for the Rail has been narrowed down to just 28 riders. Races will be paired in brackets and will race boarder-cross style down challenging off-road tracks that include tight turns, drops, and even a feature built over a truck at Sky Tavern Ski Area in Reno, NV.
"This is must-watch programming," commented Onewheel's Chief Evangelist, Jack Mudd. "Onewheel is the fastest growing boardsport and these riders are constantly taking it to the next level. This year's course is absolutely insane and there are going to be some serious fireworks in the coolest sporting event you've probably never heard of."
Fans and locals are encouraged to come spectate in person at Sky Tavern on Saturday, August 20th, and Sunday, August 21st starting at 3pm both days. Drinks, food, and merchandise will be on offer and tickets are available for $20. Kids under the age of 14 are free. Tickets are available on eventbrite.
Founded in 2013, Future Motion is committed to designing and developing inspiring vehicles that include both elegant form and unprecedented function. Future Motion's products, Onewheel Pint and Onewheel+ XR, exemplify its dedication to crafting products that bridge recreation and transportation. Future Motion designs not only the Onewheel product line but also all the subsystems that power it, including custom brushless motors, power electronics and battery modules. Onewheel, which provides a riding experience similar to surfing but on paved or unpaved trails, is perfectly situated in Santa Cruz where the mountains meet the sea. Its products are protected by over 37 issued patents in the U.S. and worldwide.
CONTACT: Garin Fons 952-239-1422 garin@igtstudio.com
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SOURCE Onewheel | https://www.whsv.com/prnewswire/2022/08/18/onewheels-2022-world-championship-race-promises-be-must-watch-event/ | 2022-08-18T21:47:19Z |
KINGDOM NFT Holders to Have Access to Exclusive Meetups, Dog Shows, and Adoption Events
Aventura, Fla., Aug. 18, 2022 /PRNewswire/ - Pawtocol, creator of blockchain-powered solutions that improve the lives of pets and pet owners, today announced a strategic plan to build multiple private pet parks in Decentraland by the end of 2022. Pawtocol will develop their new pet parks on LAND parcels near the Genesis Plazas, making them convenient for users to find and gain access to.
"We are extremely excited to continue on our journey of creating the most robust blockchain-powered platform for pets and pet owners," said Colin Jordan, CEO of Pawtocol. "By having pet parks in one of the most popular metaverses out there today in Decentraland, we are going to be able to deliver experiences that are on par with other globally recognized brands like Nike, McDonalds, and even more relevant to us Chewy."
The new pet parks, which will be named prior to open, are going to play host to exclusive events for KINGDOM NFT holders. These events will include members-only meetups, dog shows where participants can win prizes for "best in show", adoption events with real shelters and rescues, and more.
Pawtocol's new NFT platform KINGDOM, which is set to launch in September 2022, will give users the ability to create custom NFTs of their own pets or create custom NFTs of pets they've always wanted. KINGDOM NFTs can be shared, liked by community members, and even earn their owners $UPI (Universal Pet Income, Pawtocol's utility token).
"We are firm believers in the future of the metaverse and the potential impact it will have on people's daily lives, which is why Pawtocol is making the investment in developing these pet parks. We are looking forward to continuing to bridge the gap between the physical lives and digital lives of pets and pet owners, while helping support rescues and shelters all over the country," said Jordan.
Pawtocol will start with 2-3 pet parks in Decentraland in 2022 and will continue to grow its presence in 2023.
Pawtocol Holding Corp. ("Pawtocol"), is a wholly owned subsidiary of New Wave Holding Corp. ("New Wave") (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNK).
Pawtocol is an ecosystem of blockchain-powered solutions that make a positive impact on the lives of pets and pet owners all over the world. Utilizing blockchain technology provides continuity, transparency, and data ownership opportunities that have never been seen before in the pet industry. Our goal is to deliver a new level of value to each and every member of our community, including the rescues and shelters that desperately need our support in their efforts to lower the homeless pet population and end kill shelters in America.
For media inquiries and any additional information, please contact team@pawtocol.com
New Wave Holdings Corp. (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) is an investment issuer that has been focused on supporting innovative and fast-growing companies within the esports, NFT, Metaverse, Blockchain, and Web3 sectors.
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SOURCE Pawtocol | https://www.whsv.com/prnewswire/2022/08/18/pawtocol-announces-plans-build-multiple-pet-parks-decentraland-by-end-2022/ | 2022-08-18T21:47:25Z |
SAN JOSE, Calif., Aug. 18, 2022 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it has granted equity awards under its 2022 Inducement Equity Incentive Plan to new employees who joined PayPal. As previously disclosed, the Plan was approved and adopted by the Compensation Committee of the Board of Directors of PayPal Holdings, Inc. in June 2022. Information regarding the equity awards can be found on the company's investor relations website at: https://investor.pypl.com/news-and-events/news/
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 429 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.
Media Contact:
mediarelations@paypal.com
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SOURCE PayPal Holdings, Inc. | https://www.whsv.com/prnewswire/2022/08/18/paypal-announces-new-employee-inducement-grants/ | 2022-08-18T21:47:32Z |
WINSTON-SALEM, N.C., Aug. 18, 2022 /PRNewswire/ -- Three years ago, when Jobana Semones was working at one of Piedmont Advantage Credit Union's (PACU) branches in Winston-Salem, she never thought her idea for the credit union to adopt a mascot would lead her to not only bring her mascot design to life, but also to inspire the credit union's leadership to give her the opportunity to launch a new line of business aimed for children and teens from birth to 17 years old.
Now as a PACU Community Development Executive, Semones recently introduced to the credit union's membership the PACU Youth Program and its mascot, Al Pacu, of the alpaca family.
"Three years ago, with sketches in hand and an idea to pitch, I asked our new President & CEO at the time to consider adopting an alpaca, named Al Pacu, with the persona of an aviator, as our mascot. It never occurred to me these sketches and an idea would lead to our launching a comprehensive youth program with built-in parental involvement and account features of rewards, safeguards and benefits for our youth," Semones said.
"What's remarkable is every detail of this program, including the creation of Al Pacu, is a direct result of the feedback we received from PACU employees and their children," Semones added.
When pronounced, alpaca sounds remarkably similar to the credit union's acronym, PACU (pack-you), and the mascot's combined first and last name, Al Pacu. The reference to an aviator is a tribute to PACU's humble beginnings. In 1949, Piedmont Aviation formed the credit union to help its employees and employees of its subsidiary, Piedmont Airlines, establish savings and secure affordable credit.
"Unlike many other student savings and checking account products, our youth are the primary accountholders with their parents or legal guardians as joint. In their children's early years, parents are provided tools to help them initiate age-appropriate financial habits. By the time their children are 13 years old, a student checking is available, giving their children a new level of responsibility and independence to further their learning of good financial habits and relevant financial knowledge," she said.
The Al Pacu Club Savings account is open to members 17 years old and younger. They are compensated on milestone birthdays and rewarded for their academic achievements. PACU Student Checking is a checking account for members between the ages of 13 and 17. Students have no fees or overdrafts and receive perks, like shopping rewards and roadside assistance service.
"Most youth accounts are set up so that parents run the account. Our accounts are designed with features that are focused on the youth. We provide age-appropriate financial resources and tools that help them initiate and drive their own savings and learn good financial behaviors and independence," said President & CEO Dion Williams.
Williams recalls his meeting with Semones when he first joined the credit union. "We couldn't be more proud of her creativity, vision and collaborative spirit. Our youth members are going to benefit greatly because of her talents to advance the overall development of this one-of-a-kind program," he said.
For details about the PACU Youth Program and Al Pacu, go to PACU.com/Youth.
Headquartered in Winston-Salem and founded in 1949 within the aviation industry, Piedmont Advantage Credit Union (PACU) serves member-owners, who reside, work, worship, attend school or operate a business in one of the six counties it serves in North Carolina or who are employed by one of its many employer companies. These six counties are Davie, Forsyth, Guilford, Iredell, Mecklenburg and Rockingham.
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SOURCE Piedmont Advantage Credit Union | https://www.whsv.com/prnewswire/2022/08/18/piedmont-advantage-credit-union-launches-youth-program/ | 2022-08-18T21:47:38Z |
7,000,000 organizations applied. 5,000 make the list. Leaving Pioneer in the top .01% of fastest- growing private American companies.
MINNEAPOLIS, Aug. 18, 2022 /PRNewswire/ -- Inc. revealed that Pioneer Management Consulting is No. 2198 on its annual Inc. 5000 list, which ranks the fastest-growing private companies in America.
The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses. Inc. 5000 honorees have not only been successful but have also demonstrated resilience amid challenging market conditions.
Brian Westerhaus, Partner and Founder expresses his respect for other honorees:
"We have tremendous respect for every company on this list, especially our fellow entrepreneurs and small businesses owners. From our company to yours—thank you—for having the courage and grit it takes to start businesses, create jobs, fuel the economy, and serve in more important and innovative ways than imaginable. We are proud to be on this list with you."
- Approaching every decision it makes through the lens of its core values; humble, hungry and connected
- Creating new ways for employees to stay connected to the organization, their colleagues and clients, resulting in a 99% employee engagement score
- Focusing on complete client satisfaction—so much so, that it only incents consultants to do good work, resulting in a 97% client satisfaction score
- Introducing a national organizational design and opening a second office in Denver, CO, in 2022.
Molly Koenen, Partner and Co-Owner expresses her gratitude:
"To our clients, thank you for trusting us. We don't take that responsibility lightly.
Know our growth objectives remain the same:
(1) To get to 75 of the most elite consultants in each market,
(2) So we can continue to serve in guaranteed ways,
(3) To accumulate the capital we need to invest in the communities we care about most.
Most importantly, a huge thank you to team Pioneer.
There can't be a more talented, passionate, and funny team on the planet. We're so grateful."
Pioneer was founded in 2009 in Minneapolis to create local jobs in service to the companies we admire– a consulting experience that is strikingly better for all. Its core values: humble, hungry, and connected, serve as the lens through which all its decisions are filtered.
Pioneer serves some of the world's most reputable organizations nationally, that have complex transformation projects planned or underway through each of its four disciplines:
- Strategy
- Execution
- Organizational Change
- Data Analytics
Pioneer continues to experience rapid growth with 60 employees in Minnesota and Colorado, and has received other recognition including Star Tribune's Top 200 Workplaces and a MN Fast 50 awardee.
Media Contact
Rachele Hepburn
Director of Marketing
Email: rachele.hepburn@thepioneerteam.com
Cell: 612-708-3028
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine's September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
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SOURCE Pioneer Management Consulting | https://www.whsv.com/prnewswire/2022/08/18/pioneer-management-consulting-ranks-no-2198-inc-5000-fastest-growing-private-companies-list/ | 2022-08-18T21:47:45Z |
NEW YORK, Aug. 18, 2022 /PRNewswire/ -- Popular Science and hOmeLabs are proud to announce the launch of their newly co-branded air purifier. This is the first co-branded product from the partnership between Recurrent and Aterian, which was announced in December 2021.
"Popular Science is an iconic and beloved brand that doesn't put its name on products lightly," says Adam Morath, General Manager of Recurrent's Science, Tech, and Outdoor brands. "This has been a collaborative effort by two innovative companies, and a first, but important step in our co-branding initiative. We're confident the product's thoughtful design, impressive tech specs, and carbon offset program will resonate with PopSci's audience and consumers everywhere. It's exciting to finally see everyone's hard work come to market."
The hOmeLabs Purely Awesome Air Purifier removes 99.97% of airborne particles, including dust, pet dander, smoke, cooking odors, and more. It features a Powerful 3-Stage Filtration system that utilizes a pre-filter, HEPA, and activated carbon filter. At just 12.8 inches in height and 7.8 inches in diameter, this powerful purifier is portable enough to take anywhere and blend into any room. Additionally, Aterian has committed to offsetting 100% of the carbon emissions resulting from the manufacturing and sales of the co-branded air purifier. This will be done via a carbon offset program devoted to reforestation.
"At Aterian we have brought many products to market by leveraging AIMEE, our proprietary technology platform which informs us what consumers need," says Sascha Lewis, CMO at Aterian. "We are excited to see our co-branded product partnership between our brand hOmeLabs and Popular Science come to fruition because it allows us to marry our data-driven approach to product development with PopSci's well-respected brand and content expertise."
Both parties hope to gradually expand into other products within the hOmeLabs line. More information about the air purifier can be found here.
Established in 1872, Popular Science is one of America's oldest and most trusted magazine brands. Popular Science has a legacy of bringing readers groundbreaking innovations and discoveries, demystifying the world, and examining everything from the marvels of deep space to the secret lives of everyday staples. Popular Science makes science and tech engaging, approachable, and inclusive to keep readers, listeners, and viewers plugged into and excited about the world around them. Popular Science is part of Recurrent Ventures., a privately held media company that includes brands like The Drive, Futurism, and Outdoor Life.
Aterian, Inc. (Nasdaq: ATER), is a leading technology-enabled consumer products platform that builds, acquires, and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top-selling consumer products. The Company's cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing, and data analytics to streamline the management of products at scale across the world's largest online marketplaces, including Amazon, Shopify, and Walmart. Aterian has thousands of SKUs across 14 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty, and consumer electronics.
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SOURCE Recurrent Ventures | https://www.whsv.com/prnewswire/2022/08/18/popular-science-teams-up-with-homelabs-new-co-branded-product-initiative/ | 2022-08-18T21:47:52Z |
GURUGRAM, India, Aug. 18, 2022 /PRNewswire/ -- ReNew Energy Global Plc ("ReNew" or "the Company") (Nasdaq: RNW, RNWWW), India's leading renewable energy company in terms of total commissioned capacity, today announced its consolidated results for Q1 FY23 ended June 30, 2022.
Operating Highlights:
- As of June 30, 2022, the Company's portfolio consisted of 12.9 GWs, a 30.3% increase year on year, of which 7.6 GWs are commissioned and 5.3 GWs are committed. Subsequent to the end of the quarter, the Company signed an additional ~0.3 GWs of PPAs bringing the Company's total portfolio to 13.2 GWs currently.
- Total Income (or total revenue) for Q1 FY23 was INR 25,007 million (US$ 316 million), an increase of 48.8% over Q1 FY22.
- Adjusted EBITDA(2) for Q1 FY23 was INR 20,157 million (US$ 255 million), an increase of 49.7% over Q1 FY22.
- Net loss for Q1 FY23 was INR 104 million (US$ 1 million) compared to a net profit of INR 425 million (US$ 5 million) for Q1 FY22. The net loss includes a one-time expense for debt premium and the impact of a reclassification of a hedge loss from the Balance Sheet of INR 2,531 million (US$ 32 million) for the refinancing of USD bonds with lower cost rupee debt.
- Cash Flow to equity(2) ("CFe") for Q1 FY23 was INR 14,562 million (US$ 184 million), an increase of 104.0% over Q1 FY22.
Note: the translation of Indian rupees into U.S. dollars has been made at INR 79.02 to US$ 1.00. See note 1 for more information.
FY 23 Guidance
The Company is reiterating its Adjusted EBITDA, Adjusted EBITDA per share, Cash Flow to equity and Cash Flow to equity per share guidance for FY23:
Form 6-K containing financial statements and discussion of financial results has been filed with the SEC and can be accessed at www.sec.gov
Webcast and Conference Call Information
A conference call has been scheduled to discuss the earnings results at 8:30 AM EDT (6:00 PM IST) on August 19, 2022. The conference call can be accessed live at https://edge.media-server.com/mmc/p/qb3qf6a7 or by phone (toll-free) by dialing:
US / Canada: (+1) 855 881 1339
UK: (+44) 0800 051 8245
India: (+91) 0008 0010 08443
Singapore: (+65) 800 101 2785
Japan: (+81) 005 3116 1281
Rest of the world: (+61) 7 3145 4010 (toll)
An audio replay will be available following the call on our investor relations website at https://investor.renewpower.in/news-events/events
Notes:
(1) This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 79.02 to US$ 1.00, which was the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on June 30, 2022. We make no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all.
(2) This is a non-IFRS measure. For more information, see "Use of Non-IFRS Measures" elsewhere in this release. IFRS refers to International Financial Reporting Standards as issued by the International Accounting Standards Board. In addition, reconciliations of non-IFRS measures to IFRS financial measures, and operating results are included at the end of this release.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding our future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long-term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; our limited operating history, particularly as a relatively new public company; our ability to attract and retain relationships with third parties, including solar partners; our ability to meet the covenants in our debt facilities; meteorological conditions; issues related to the COVID-19 pandemic; supply disruptions; solar power curtailments by state electricity authorities and such other risks identified in the registration statements and reports that our Company has filed or furnished with the U.S. Securities and Exchange Commission, or SEC, from time to time. Portfolio represents the aggregate megawatts capacity of solar power plants pursuant to PPAs, signed or allotted or where we have received a letter of award. There is no assurance that we will be able to sign a PPA even though we have received a letter of award. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
About ReNew
Unless the context otherwise requires, all references in this press release to "we," "us," or "our" refers to ReNew Power and its subsidiaries.
ReNew is one of the largest renewable energy Independent Power Producers in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects, and distributed solar energy projects. As of August 18, 2022, ReNew had a gross total portfolio of ~13.2 GWs of renewable energy projects across India, including commissioned and committed projects. For more information, please visit www.renewpower.in and follow us on Linked In, Facebook, Twitter and Instagram.
Press Enquiries
Kamil Zaheer
kamil.zaheer@renewpower.in
+ 91 9811538880
Shilpa Narani
shilpa.narani@renewpower.in
+ 91 9999384233
Investor Enquiries
Nathan Judge
Anunay Shahi
Subhadip Mitra
ir@renewpower.in
Logo - https://mma.prnewswire.com/media/653741/ReNew_Power_New_Logo
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SOURCE ReNew Energy Global PLC | https://www.whsv.com/prnewswire/2022/08/18/renew-power-announces-results-first-quarter-fiscal-year-2023-q1-fy23-ended-june-30-2022/ | 2022-08-18T21:48:04Z |
Credit Ratings Upgrade to BBB+ (S&P) and Baa2 (Moody's)
LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located throughout infill Southern California, announced that Moody's Investors Service ("Moody's") and S&P Global Ratings ("S&P") upgraded Rexford Industrial's investment grade issuer and senior unsecured ratings. Moody's upgraded the Company's ratings to Baa2 from Baa3 with a stable outlook. S&P upgraded the Company's ratings to BBB+ from BBB with a stable outlook.
"These rating upgrades by both Moody's and S&P reflect the strength of our differentiated business model driven by our irreplaceable portfolio and value creation expertise within infill Southern California, the nation's highest demand and lowest vacancy industrial market. Our commitment to maintaining a low-leverage, fortress-like balance sheet positions Rexford Industrial to continue to execute on accretive internal and external growth initiatives, driving significant long-term value creation for our shareholders," stated Laura Clark, Chief Financial Officer of the Company.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand, lowest supply market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial's high-quality, irreplaceable portfolio comprises 336 properties with approximately 41.0 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's most recent Form 10-Q. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact:
Investor Relations:
424 256 2153 ext. 401
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SOURCE Rexford Industrial | https://www.whsv.com/prnewswire/2022/08/18/rexford-industrial-receives-credit-rating-upgrades-moodys-sampp/ | 2022-08-18T21:48:10Z |
MIAMI, Aug. 18, 2022 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) (the "Company") today announced that it has closed its private offering of $1,250,000,000 aggregate principal amount of 11.625% senior unsecured notes due 2027 (the "Notes"). The Notes will mature on August 15, 2027 unless earlier redeemed or repurchased.
The Notes will be issued under an Indenture, dated as of August 18, 2022, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, principal paying agent, transfer agent and registrar.
The Company expects to use the net proceeds from the offering of the Notes to repay principal payments on debt maturing in 2022 and/or 2023 (including to pay fees and expenses in connection with such repayments). Pending such uses, the Company may temporarily apply the proceeds to repay borrowings under its revolving credit facilities or other borrowings.
Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any security. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States, only to certain non-U.S. investors pursuant to Regulation S. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding revenues, costs and financial results for 2022 and beyond. Words such as "anticipate," "believe," "could," "driving," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "will," "would," "considering," and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and will continue to have an adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: governmental and self-imposed travel restrictions and guest cancellations; our ability to extend the maturities of our existing bank facilities; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than we expect in reducing the risk of infection and spread of such disease on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; an increase in concern about the risk of illness on our ships or when travelling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign currency exchange rates, the impact of higher interest rates and fuel prices; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States.
In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. It is not possible to predict or identify all such risks.
Forward-looking statements should not be relied upon as a prediction of actual results. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of June 30, 2022.
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SOURCE Royal Caribbean Group | https://www.whsv.com/prnewswire/2022/08/18/royal-caribbean-group-announces-closing-125-billion-senior-unsecured-notes-offering-refinance-near-term-debt-maturities/ | 2022-08-18T21:48:17Z |
For every box of Shaklee's Meology™ Kids sold, a child in need receives life-changing nutritional support, through Shaklee's partnership with Vitamin Angels
PLEASANTON, Calif., Aug. 18, 2022 /PRNewswire/ -- Shaklee, a leading wellness company, announces today it has reached more than 133,000 at-risk children through its partnership with Vitamin Angels. With every Meology Kids all-in-one vitamin gummy pack sold, Shaklee provides essential nutrients and access to nutritional health to children in at-risk communities throughout the world. In addition to the impact of the Meology Kids purchases either online or via one of Shaklee's more than 2 million ambassadors, the organization provides its online shoppers the opportunity to round-up their cart at checkout to support children with this vital nutrition.
"With food prices soaring, undernourishment is a growing, often overlooked issue in the U.S.," said Roger Barnett, Chairman and CEO, Shaklee Corporation. "Our work with Vitamin Angels helps to ensure children get the nutrients they would otherwise be missing in their diet, all of which are vital to healthy growth and development."
The Shaklee-Vitamin Angels Partnership is a key pillar of Shaklee Cares, a foundation that furthers the company's mission to bring true wellness to the world by investing in nutritional and environmental health for the next generation. Since its formation in 1992, Shaklee Cares has:
- Reached more than 133,000 children with essential nutrients
- Helped 150,000 families in need during times of natural disasters
- Donated more than $3 million in Shaklee products
- Provided $650,000+ in family grants
Since Shaklee's inception more than 65 years ago, the vitamin and nutrition company has quietly led the way in support of make a positive impact on the world. To learn more about Shaklee and its charitable initiatives, visit: https://us.shaklee.com/shakleecares.
About Shaklee
Shaklee is a leading wellness company founded by Dr. Shaklee, who invented the first multivitamin in the U.S. more than 100 years ago. As a pioneer in sustainability, Shaklee was the first company in the world to fully offset its carbon emissions and have a net zero impact on our planet. Shaklee products are backed by over 110 published clinical studies proving safety and efficacy and are marketed through more than 2 million micro-influencers in North America and Asia. With a complete wellness portfolio, Shaklee is committed to providing consumers with the products and support they need to live their healthiest lives. For more information, visit us.shaklee.com, follow @shakleehq on Instagram, or like us on Facebook.
About Roger Barnett
Roger Barnett is the Chairman and CEO of Shaklee Corporation, the first company in the world to become certified carbon neutral. A graduate of Yale College, Yale Law School, and Harvard Business School, Roger has spent the majority of his career as an impact investor. In 2004, he acquired control of Shaklee, the pioneer of nutritional supplements, and has since transformed this once analog business into a digital powerhouse with a network of 2 million ambassadors across the globe. He has been selected as a Global Leader for Tomorrow by the World Economic Forum and is a member of the Harvard and Yale Schools of Public Health Leadership Councils, the University Council of Yale University, and the Yale University President's Council on International Activities.
About Vitamin Angels
Vitamin Angels is a global public health nutrition organization that provides evidence-based nutrition interventions to underserved pregnant women and children under five in the U.S. and around the world. In 2020, Vitamin Angels reached 60 million women and children in 65 countries, including the U.S. Both Charity Navigator and GuideStar give Vitamin Angels their highest marks for financial transparency. To learn more, visit www.vitaminangels.org.
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SOURCE Shaklee Corporation | https://www.whsv.com/prnewswire/2022/08/18/shaklee-vitamin-angels-reach-milestone-133000-underserved-children-provided-with-essential-nutrients/ | 2022-08-18T21:48:23Z |
South Florida Family Law Attorneys Stann W. Givens and Chris Givens, Partners at Tampa-based Givens Law Group, have been named yet again to The Best Lawyers in America®.
TAMPA BAY, Fla., Aug. 18, 2022 /PRNewswire/ -- Givens Law Group is a Tier 1 "Best Law Firms" rated Tampa practice that's earned a reputation as a true family law firm – not only because it focuses exclusively on matrimonial and family law, but also because it's led by a father-son legal team who treat clients like family of their own.
Thanks to their family-focused approach and considerable experience, Givens Law Group Partners Stann Givens and Chris Givens have also earned numerous awards and accolades during their time in practice.
Their latest distinction: another selection to The Best Lawyers in America®.
Best Lawyers is a legal industry rating system known for its annual publications of The Best Lawyers in America and the U.S. News – Best Lawyers "Best Law Firms" list. Based entirely on peer review, these listings rely on feedback from tens of thousands of leading lawyers who are asked to weigh in on the skill, talent, and achievements of their peers.
Given the stringent selection process, recognition in Best Lawyers is a coveted honor that speaks volumes about the respect honorees have earned within their fields. It's also very exclusive, with just 5.3% of all U.S. attorneys making the final list in this year's edition.
As tried-and-true Family Lawyers, Stann Givens and Chris Givens have proven themselves capable of guiding individuals, parents, children, and families through the toughest of life experiences. They've been trusted by clients and colleagues across the Tampa Bay area and have cultivated reputations and leaders in their area of practice.
- Stann Givens. Founding Partner Stann W. Givens has been recognized by Best Lawyers every year since 1999. Backed by over 40 years of experience, Givens has helped thousands of clients in complex cases of divorce, alimony, asset division, and family law, and routinely represents high-profile clients such as professional athletes, corporate executives, and celebrities. He is one of just a small percentage of attorneys to be Board Certified in Marital and Family Law by the Florida Bar and is a former President of the Florida Chapter of the American Academy of Matrimonial Lawyers.
- Chris Givens. Partner Chris Givens was selected to The Best Lawyers in America for the fourth consecutive year for his work in Collaborative Law and Family Law. Chris has been widely recognized by his peers, having been named to the Florida Super Lawyers Rising Stars list from 2013 to 2017, the Florida Super Lawyers list since 2019, and the Nation's Top One Percent by the National Association of Distinguished Counsel. Chris is Co-Author of the Alimony chapter in the Florida Bar's book on dissolution of marriage, as well as the Child Support Modification chapter for the Bar's post-decree modifications book
Givens Law Group is a nationally recognized divorce and family law firm serving individuals and families across Tampa and South Florida. Rated among the nation's Tier 1 "Best Law Firms" in Family Law by U.S. News, the firm has helped thousands of clients successfully resolve all types or marital and family law cases. For more information, visit: www.tampafamilylaw.com.
Media Contact:
Stann Givens
stann@tampafamilylaw.com
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SOURCE Givens Law Group | https://www.whsv.com/prnewswire/2022/08/18/stann-givens-chris-givens-named-29th-edition-best-lawyers-america/ | 2022-08-18T21:48:30Z |
Stone reports 2Q22 revenues of R$ 2.3 billion and consolidated TPV of R$ 91 billion, combined with solid profitability increase
Published: Aug. 18, 2022 at 4:54 PM EDT|Updated: 54 minutes ago
The company bet all quarterly guidance lines; Adjusted net income of R$ 76 million was 48% higher vs. previous quarter on a comparable basis
SÃO PAULO, Aug. 18, 2022 /PRNewswire/ -- Today, August 18, StoneCo Ltd. (Nasdaq: STNE) reported its financial results for the second quarter of 2022. The highlights are net revenues of R$ 2.3 billion, 5% above the guidance, and pre-tax earnings of R$ 107 million, 19% above the guidance. Revenue growth was driven by a 101.5% year on year rise in revenues from the Financial Services segment, which reached R$ 1.9 billion, combined with a 23% increase in revenues from the Software segment, which reached R$ 351 million. The company expects to continue consistently growing revenue and expanding margins throughout 2022.
Consolidated adjusted EBT (earnings before taxes) was R$ 107 million, up 29.4% vs. the first quarter of the year, and 19% above the guidance of R$ 90 million. The EBT improvement is related to continuous efforts to adjust the company's pricing policy to the new interest rates reality, combined with efficiency gains in terms of costs and expenses. Adjusted net income was R$ 76.5 million, while net margin improved to 3.3% in 2Q22. This compares to 1Q22 adjusted net income of R$ 51.7 million. Stone focus remains on balancing growth and profitability, mainly in micro, small and medium-sized businesses (MSMB) operations.
Total payment volume (TPV) grew 50% year on year, reaching R$ 91 billion in 2Q22. For MSMBs, the TPV was R$ 69.9 billion, a 78% increase YoY. Performance was driven by continued growth of the active payment solution's customer base, which grew 94% year on year and surpassed the 2 million-customer milestone. The take rate for MSMBs continues to expand, reaching 2.09% in 2Q22, against 2.06% in 1Q22 and 1.71% in 4Q21, as the company continued to adjust prices following recent interest rate increases in Brazil.
At its banking platform, Stone grew the client base by 55% year on year and reached 526,100 active customers. "Our average monthly revenue per active client (ARPAC) has tripled in one year. We recorded R$ 2.3 billion in deposits, a 170% increase year on year. Our clients use our ecosystem to pay bills, make transactions, accept Pix, make card payments, purchase insurance, or look for other solutions for their businesses", says Stone's CEO, Thiago Piau.
Scenario for 3Q22
For the third quarter, Stone expects to continue expand revenue and profitability:
- Total revenue should exceed R$ 2.4 billion, with a growth of over 63% year over year;
- MSMB TPV should continue to grow and remain between R$ 73 and R$ 74 billion;
- Adjusted EBT (earnings before taxes) is expected to exceed R$ 125 million, against R$ 107 million in the second quarter.
About Stone
Stone is a technology company that provides financial and software solutions, whose purpose is to improve the life of Brazilian entrepreneurs, helping them to sell through multiple channels, better manage their businesses, and grow.
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The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.whsv.com/prnewswire/2022/08/18/stone-reports-2q22-revenues-r-23-billion-consolidated-tpv-r-91-billion-combined-with-solid-profitability-increase/ | 2022-08-18T21:48:36Z |
The first big beat for newly merged Tapas Entertainment is set to take place this weekend in Seattle. Media kit including event images, AV, brand assets, cleared quotes and more to follow
LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- Effective August 1st, 2022, digital storytelling platforms, Tapas Media, Radish Fiction, and Wuxiaworld officially merged to form Tapas Entertainment. Tapas Entertainment will serve as the parent company overseeing the development and growth of all three platforms which will continue to operate individually under the continued leadership of Tapas Founder and CEO, Chang Kim.
Chang Kim shared, "This is a real moment for all of us. For Tapas, Radish, and WuxiaWorld to come together presents an invaluable opportunity for collective growth and creativity. It is an incredibly exciting time."
The multi-platform merger comes weeks prior to the highly-anticipated Emerald City Comic Con in Seattle, WA. Tapas, a brand sponsor of the convention, is set to attend with a highly-visible presence, hosting multiple panels, creator signings, portfolio reviews and giveaways.
Tapas VP of Content, Michael Son: "Emerald City Comic Con is known as a creator's event so it is only natural that this is where Tapas needs to be. Our creators and readers most commonly come to us on-platform, but events like ECCC allow for us to come to the fans, meet them in person and offer memorable experiences and creative opportunities."
Emerald City Comic Con is Thursday, August 18th to Sunday, August 21st, 2022 to be held at Washington State Convention & Trade Center.
Tapas Media will be releasing a full-access media kit following Emerald City Comic Con on Monday, August 21, 2022. Branded assets, images, panel footage and video from the convention floor amongst other downloadable materials will be made available to interested members of the press.
Opt in HERE to receive the exclusive Tapas Emerald City Comic Con Media Kit.
Tapas Media is a leading digital publishing platform for webcomics and webnovels in North America. With a full-service suite of businesses, Tapas is a talent incubator, publisher, producer, and distributor for both independent creators and established storytellers, reaching more than 10 million registered users.
Radish is a mobile fiction platform for serialized storytelling, offering the literary equivalent of addictive TV drama series. Its wide variety of stories are published and read in bite-sized installments, optimized for the smartphone reader. Radish is revolutionizing the way that stories are consumed and produced. Readers can access thousands of serials across genres and connect directly with their favorite storytellers in live community chat rooms.
Amateur authors can publish their own original stories via user-submitted content, and Radish itself also produces Radish Originals, serials in a variety of genres designed specifically for its mobile platform and written by a talented team of Emmy Award-winning soap writers, authors and Radish's Content Team creators. Built to be both user and author-friendly, Radish strives to present the newest and brightest in entertaining, diverse serial fiction to readers while providing authors with innovative ways to build readerships and monetize their work.
For more information, visit www.radishfiction.com.
Wuxiaworld Limited Wuxiaworld Limited was founded in December 2014 by Jingping Lai, a passionate fan of Chinese fantasy martial arts novels (or "Wuxia"), to broaden the popularity of Wuxia novels among English speakers. The Wuxiaworld website and app quickly rose to prominence as the largest Chinese-to-English novel translation platform in the world, with millions of active users. Today, Wuxiaworld publishes translations of Chinese and Korean novels from a wide variety of authors in the fantasy/sci-fi genres, with seminal works including such as "Coiling Dragon" (盘龙), "I Shall Seal the Heavens" (我欲封天), "Overgeared" (템빨), and more.
For more information, visit www.wuxiaworld.com.
Chang Kim is the Founder and CEO of Tapas Media, the next-generation digital storytelling company specializing in web comics and novels. A veteran in the digital publishing industry, Kim has worked at Google (Blogger.com), TNC (leading Korean blog service), and overseeing Samsung Mobile's content strategy.
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SOURCE Tapas Media | https://www.whsv.com/prnewswire/2022/08/18/tapas-entertainment-takeover-emerald-city-comic-con-2022-media-kit/ | 2022-08-18T21:48:43Z |
TORONTO, Aug. 18, 2022 /PRNewswire/ - Info-Tech Research Group, one of the world's leading IT research and advisory firms, has published its newest industry resource, Identify and Manage Reputational Risk Impacts on Your Organization. This highly relevant research will assist organizational leaders in the ongoing monitoring of social media and the vendors associated with their brand as well as evolving organizational risk assessments to be more adaptive to respond to the rapid changes in online media. The research outlines that consistent monitoring of social media and the vendors tied to their company is imperative to achieving success and avoiding reputational disasters
"Social media, unprecedented access to good and bad information, and consumer reliance on online opinions have forced organizations to dedicate more resources to protecting their brand reputation than ever before," says Frank Sewell, research director of vendor management at Info-Tech Research Group. "Perceptions matter, and you should monitor and protect the perception of your organization with as much rigor as possible to ensure your brand remains recognizable and trusted."
In the digital economy, access to information about companies is more available to consumers than ever. Negative events, such as a data breach, service disruption, or customer complaint, are becoming increasingly common and could impact an organization's reputation at any time. Info-Tech's research points to the need to continuously monitor vendor actions in the market to help organizations address brand disasters before they occur. As such, organizations can and must implement mechanisms to monitor and manage how information is perceived to avoid potentially disastrous consequences to the brand's reputation.
The timely new research from Info-Tech Research Group highlights seven key steps for leaders to take in assessing reputational risk impacts to help streamline their risk identification, assessment, and management processes. Those steps are:
- Review Organizational Strategy – Leaders should review the organizational strategy to prepare for a "what if" exercise. This activity is recommended as a best practice and includes asking probing questions to draw out, understand, and eliminate possible negative outcomes.
- Identify & Understand Potential Risks – Execute the "what if" game with the right people at the table. As an example, this might include organizational leadership, the vendor management coordinator, operations experts (SMEs), marketing team members, and legal, compliance, and risk managers.
- Create a Risk Profile Packet for Leadership – Pull all the determined information together in a presentation document. This will act as a comprehensive reputational risk profile, including specific vendor solutions, for future reference.
- Validate the Risks – Collaboration across leadership throughout the organization is important to ensure that the proposed risks are in line with their thoughts and make a list of identified potential risk scenarios scored by likelihood and financial impact.
- Plan to Manage the Risks – Lower the overall risk potential by putting mitigations in place and creating a list of potential management of the scenarios to reduce the risk.
- Communicate the Plan – It is crucial to not only to have a plan but also to socialize it in the organization for awareness. A risk management plan is only as useful as it is understood, so organizational buy-in and comprehension are crucial to its success.
- Enact the Plan – Once the plan is finalized and socialized, it should be implemented in conjunction with continued monitoring for success.
"All we are at our core is our reputation and our brand, and they are intertwined," says Phil Bode, principal research director at Info-Tech Research Group. "Organizational leadership is often caught unaware during crises, with response plans lacking the flexibility to adjust to significant market upheavals as a result. Vendor management practices serve to educate organizations and their leadership on the different potential risks to vendors in their respective markets, suggesting creative and alternative ways to both avoid and help manage them."
For organizational leaders seeking to minimize potential reputational risks to their brand, Identify and Manage Reputational Risk Impacts on Your Organization is now available to download.
To learn more about Info-Tech Research Group and to download the latest research, visit infotech.com and connect via LinkedIn, Twitter, and Facebook.
Info-Tech Research Group is one of the world's leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
Media professionals can register for unrestricted access to research across IT, HR, and software and over 200 IT and Industry analysts through the ITRG Media Insiders Program. To gain access, contact pr@infotech.com.
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SOURCE Info-Tech Research Group | https://www.whsv.com/prnewswire/2022/08/18/there-are-7-key-steps-organizations-should-follow-manage-brand-reputation-risks-says-it-advisory-firm-info-tech-research-group/ | 2022-08-18T21:48:49Z |
ETFMG will sponsor four additional themes in TIFIN's Magnifi marketplace. This follows existing distribution partnerships between ETFMG, Breakwave Advisors, and TIFIN
BOULDER, Colo. and NEW YORK, Aug. 18, 2022 /PRNewswire/ -- TIFIN, a fintech platform using artificial intelligence (AI) and investment-driven personalization to shape the future of investor experiences, today announced a new fund marketing and distribution partnership with ETF Managers Group (ETFMG). ETFMG is a thematic ETF issuer founded in 2014 with a vision of developing innovative thematic exchange-traded funds (ETFs) that provide investors unique exposure to new and emerging markets. This adds to TIFIN's embed investment partnerships which now has over 40 leading investment managers sponsoring 90+ funds across their ecosystem.
"TIFIN, including through its Magnifi marketplace, is undeniably innovating through its proprietary technology, to make it easier for investors to search for themes and identify the investment opportunities that matter to them," said Sam Masucci, CEO and Founder of ETFMG. "The ETF world offers thousands of choices, making it a challenge for investors to navigate. Simply said, Magnifi helps investors make smarter decisions and we are thrilled to be partnering with TIFIN in support of this common goal."
This new partnership will see ETFMG promoting a series of thematic ETFs across Cannabis (TICKER: MJ, MJUS, MJIN, and MJXL), Travel (TICKERS: AWAY, AWYX), Cybersecurity (TICKER: HACK), and Precious Metal (TICKERS: SILJ, SILX) themes within TIFIN's Magnifi Investment Marketplace to over 140k registered users. Each fund will be placed in a primary position to all search results that relate back to each of the thematic areas. Magnifi users conduct over 2.5 million investor queries per week as of August 2022. In addition, the two firms will work on a series of co-marketing initiatives to promote ETFMG to both active advisor and individual investor communities. This partnership builds on an existing relation between ETFMG and TIFIN, as their BDRY and BSEA ETFs are currently part of a thematic investment marketplace within the TIFIN Wealth platform used by over 1,000 Advisory Firms to match funds to client proposals based on insights from their financial planning, personality, and risk tolerance needs.
"We are delighted to partner with Sam Masucci and the ETFMG team to bring their revolutionary thematic ETFs to the forefront of our Magnifi marketplace," said Jack Swift, President and CRO of TIFIN. "This partnership will bring value to our user base by promoting these leading ETFs adjacent to the thematic intelligence and insights across Magnifi."
ETFMG is a provider of exchange-traded funds (ETFs), founded in 2014 with a vision of developing innovative thematic ETFs that provide investors unique exposure to new markets. Today, the ETFMG fund line up provides access to a diverse collection of global themes and is comprised of 75% first to market products. We turn portfolio management strategies into successful ETFs by partnering with market segment experts to bring long-term growth opportunities to investors. ETFMG funds are proof as to the power of the ETF wrapper and that thematic products can have a place in investors' portfolios. To learn more about ETFMG and our portfolio of exchange traded funds please visit www.etfmg.com or follow us on LinkedIn, Twitter @ETFMG, or YouTube.
TIFIN is an AI-powered fintech that leverages data science, investment intelligence, and technology to deliver engaging and personalized investor experiences. By connecting individuals to advice and investments, TIFIN bridges the gap between investors, their trusted intermediaries, and asset managers.
Founded in 2018 by Dr. Vinay Nair, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face.
TIFIN manages Magnifi, a search-powered marketplace for investments; TIFIN Wealth, a platform for advisors, wealth managers, and other intermediaries to deliver better individual outcomes; Financial Answers, a digital platform of investor communities; all powered through Distill, a central digital distribution and insights engine using TIFIN's data platform.
Carefully consider a Fund's investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund's summary or statutory prospectuses, available on www.etfmg.com. Please read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund.
ETF Managers Group LLC is the investment adviser to the Fund.
ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, "ETFMG"). The Fund is distributed by ETFMG Financial LLC, which is not affiliated with Breakwave Advisors LLC, Maritime Transformation Partners LLC or Prime Indexes.
ETF Managers Group LLC, provides compensation to Magnifi, LLC or one its affiliates to be a sponsored fund manager which provides its funds greater visibility. Magnifi, LLC has a financial interest to promote and market investment solutions from ETF Managers Group that can conflict with the interests of its clients.
The information contained herein should in no way be construed or interpreted as an offer, recommendation, or solicitation to buy or sell any security. All content is for informational purposes only and is not intended to provide any tax or legal advice or provide the basis for any financial decisions, nor is it intended to be a projection of current or future performance. This information has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed.
For Media inquiries, please contact:
Zito Partners
Deborah Kostroun
deborah@zitopartners.com
201-403-8185
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SOURCE TIFIN | https://www.whsv.com/prnewswire/2022/08/18/tifin-etfmg-announce-expanded-partnership-promote-thematic-etfs-active-investors-advisors-magnifi/ | 2022-08-18T21:48:56Z |
LOUISVILLE, Ky., Aug. 18, 2022 /PRNewswire/ -- Michter's is proud to announce that its Master of Maturation Andrea Wilson will be inducted into The Kentucky Bourbon Hall of Fame®. In 2009, Andrea "broke the glass ceiling" when she became the first woman to ever Chair the Kentucky Distillers' Association. Established in 2001, The Kentucky Bourbon Hall of Fame® recognizes individuals and organizations who have had a transformative impact on the Bourbon industry.
"Andrea is enormously talented, and she is a terrific leader. She has contributed tremendously to both the growth of Michter's Distillery and to the growth of the entire Kentucky Bourbon industry as well," stated Michter's President Joseph J. Magliocco. "There is no one more deserving of this high honor." Wilson added, "I am humbled to be recognized by The Kentucky Distillers' Association for my impact on our industry. I am enormously grateful to have been given the opportunity to play a role in fostering the growth of Kentucky Bourbon and the American Whiskey Category. It is an honor to be included among the six outstanding individuals who will be inducted next month."
Andrea Wilson was born in Louisville, Kentucky, and as a child she would listen attentively to her grandfather recount stories about his moonshining days. Upon graduating from the University of Louisville with a Bachelor of Science, Chemical Engineering, Wilson went on to earn a Master of Engineering, Chemical Engineering there as well. In 2018, the JB Speed School of Engineering honored Andrea with its Professional Award in Chemical Engineering.
Prior to her tenure at Michter's, Andrea had a distinguished career at Diageo, where she rose to the position of Director of Distillation and Maturation, North America. Upon joining Michter's in 2014, Andrea embarked on a series of roles at the company. Having done work essential to the growth at Michter's Shively Distillery, Andrea took on key roles in establishing Michter's Fort Nelson Distillery and the company's Farm and Operations in Springfield. Currently Andrea does outstanding work as Michter's Master of Maturation and Chief Operating Officer. Incidentally, we are unaware of any Master of Maturation in Kentucky prior to Andrea being named one.
Since 2005, Andrea has served as either a board member or an alternate board member of the Kentucky Distillers' Association. Different organizations have called upon Andrea to help them, and she has been recognized for her service. Andrea worked as a member of the Frazier Museum Task Force for the development of the new Kentucky Bourbon Trail Welcome Center and the Spirit of Kentucky Exhibition. In 2004 Andrea was nominated for The Business and Professional Women Young Careerist Award. The KET documentary Kentucky Bourbon Tales: Distilling the Family Business highlighted Andrea, and in 2018 the Bourbon Women Association honored her with its Lois Mateus Networking Award.
Andrea resides in Fisherville, Kentucky with her wonderful husband Randy Wilson and three cats.
Contact: Joseph J. Magliocco
502-774-2300 x580
jmagliocco@michters.com
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SOURCE Michter's Distillery | https://www.whsv.com/prnewswire/2022/08/18/trailblazing-andrea-wilson-be-inducted-into-kentucky-bourbon-hall-fame/ | 2022-08-18T21:49:03Z |
Mark Mirelez Joins as Chief Executive Officer
HOOD RIVER, Ore., Aug. 18, 2022 /PRNewswire/ -- Trillium Engineering, a leading designer and manufacturer of highly engineered camera gimbals for unmanned aerial systems ("UAS") performing mission-critical intelligence, surveillance and reconnaissance missions, is pleased to announce the appointment of Mark Mirelez as chief executive officer of the company.
Mark is a highly experienced defense technology executive who most recently served as chief executive officer of BEI Precision, which designs, engineers and manufactures highly accurate and resilient sensors and frequency reference technologies for mission-critical space, air and sea applications. Mark led the company during a period of highly successful growth which included the design, implementation and fielding of a broad and innovative product development program. Prior to leading BEI, Mark held leadership roles at DynCorp International, Rockwell Collins, Norvell Electronics and National Instruments. Mark holds a bachelor's degree from the United States Air Force Academy and a master's degree from Abilene Christian University.
"Mark has a tremendous track record in leading high technology defense companies through periods of exceptional growth" said Steve Brooks, partner with J.F. Lehman & Company. "We are delighted to have the opportunity to work with Mark again and believe his leadership experience is a strong match with Trillium's innovative culture, strong program positions and dynamic market opportunity."
"I am very excited to welcome Mark to Trillium" added Rob Gilchrist, co-founder and vice chairman of Trillium. "Mark's expertise and demonstrated accomplishments in successfully leading similar businesses during periods of expansion represents a great match with our overall enterprise."
J.F. Lehman is a leading private equity firm in the aerospace, defense, maritime, government and environmental sectors and a substantial investor in Trillium, providing support for its growth in partnership with Trillium's founders and its dedicated and talented team.
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SOURCE Trillium Engineering | https://www.whsv.com/prnewswire/2022/08/18/trillium-engineering-announces-new-ceo/ | 2022-08-18T21:49:09Z |
WARREN, Mich., Aug. 18, 2022 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) announced that Tim Phillips, Universal's Chief Executive Officer, and Jude Beres, Chief Financial Officer, will participate in a fireside chat at Cowen's 15th Annual Global Transportation & Sustainable Mobility Conference.
The event will begin at 12:20 PM ET on Wednesday, September 7, 2022, and will be broadcast live via webcast at http://www.universallogistics.com. To access the event, click on "Investor Relations" and follow the link to the webcast. A link to the replay will be available following the event.
About Universal
Universal Logistics Holdings, Inc. ("Universal") is a holding company that owns subsidiaries engaged in providing a variety of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada and Colombia. Our operating subsidiaries provide customers with supply chain solutions that can be scaled to meet their changing demands and volumes. Universal's consolidated subsidiaries offer customers a broad array of services across the entire supply chain, including truckload, brokerage, intermodal, dedicated, and value-added services. In this press release, the terms "us," "we," "our," or the "Company" refer to Universal and its consolidated subsidiaries.
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SOURCE Universal Logistics Holdings, Inc. | https://www.whsv.com/prnewswire/2022/08/18/universal-logistics-holdings-participate-cowens-15th-annual-global-transportation-amp-sustainable-mobility-conference/ | 2022-08-18T21:49:16Z |
HARTFORD, Conn., Aug. 18, 2022 /PRNewswire/ -- Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) previously announced the following monthly distribution on June 7, 2022:
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 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.
About the Fund
Virtus Artificial Intelligence & Technology Opportunities Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income, current gains, and long-term capital appreciation. A multi-asset approach based on fundamental research is employed, dynamically allocating to attractive segments of a company's debt and equity in order to offer an attractive risk/reward profile. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Voya Investment Management is its subadviser.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.
Fund Risks
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 end of this press release.
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SOURCE Virtus Artificial Intelligence & Technology Opportunities Fund | https://www.whsv.com/prnewswire/2022/08/18/virtus-artificial-intelligence-amp-technology-opportunities-fund-discloses-sources-distribution-section-19a-notice/ | 2022-08-18T21:49:22Z |
HARTFORD, Conn., Aug. 18, 2022 /PRNewswire/ -- Virtus Diversified Income & Convertible Fund (NYSE: ACV) previously announced the following monthly distribution on June 7, 2022:
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 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.
About the Fund
Virtus Diversified Income & Convertible Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund normally invests at least 50% of total managed assets in convertibles. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Voya Investment Management is its subadviser.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.
Fund Risks
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 end of this press release.
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SOURCE Virtus Diversified Income & Convertible Fund | https://www.whsv.com/prnewswire/2022/08/18/virtus-diversified-income-amp-convertible-fund-discloses-sources-distribution-section-19a-notice/ | 2022-08-18T21:49:29Z |
TSX | NYSE | LSE: WPM
VANCOUVER, BC, Aug. 18, 2022 /PRNewswire/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with certain subsidiaries of Glencore plc ("Glencore") (LSE: GLEN) to terminate its silver stream on the Yauliyacu Mine in Peru for a cash payment of US$150 million, less the aggregate value of any deliveries to Wheaton of silver produced in 2022 prior to closing. Wheaton has agreed to terminate the stream in order to help facilitate the sale by Glencore of the Yauliyacu Mine.
"Yauliyacu has been part of Wheaton's portfolio since 2006 and has been integral to the history of our company. Combined with San Dimas and Zinkgruvan, Yauliyacu gave us the scale to grow the streaming business and become the company we are today," said Randy Smallwood, Wheaton's President and Chief Executive Officer. "Consistent with a core principle of working with our partners, Wheaton has agreed to terminate the stream, adding even more financial capacity to explore new opportunities that we believe are in the best interests of our shareholders. Glencore was one of the first mining companies to recognize the value that is created for all stakeholders through the streaming model, and we thank them for their stewardship of this project and look forward to maintaining our strong partnership on existing and potential future developments."
Wheaton acquired the silver stream on the Yauliyacu Mine in 2006 for an upfront consideration of US$285 million and has subsequently generated over US$485 million in cash flow from the stream. Combined with the termination payment, Wheaton will have generated an absolute return of over 220% of the original investment.
The closing of the transaction is contingent on Glencore divesting the Yauliyacu mine by December 31, 20221 and is subject to other customary conditions.
As a result of the transaction, Wheaton now expects average annual production for the five-year period ending December 31, 2026, to be approximately 800,000 gold equivalent ounces2 ("GEOs") (from 820,000 previously) and for the ten-year period ending December 31, 2031, to be approximately 850,000 GEOs (from 870,000 previously). Production in 2022 is expected to remain between 640,000 and 680,000 GEOs.
End Notes
________________________
1 Glencore has the option, but not the obligation, to terminate the silver stream even if it does not divest Yauliyacu by December 31, 2022.
2 Commodity price assumptions for the gold equivalent production and sales in 2022 are $1,800 / ounce gold, $24 / ounce silver, and $2,100 / ounce palladium and $33 / pound cobalt. Other metal includes palladium and cobalt.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's precious metals purchase agreement ("PMPA") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, the termination of the Yauliyacu silver stream for $150 million, the value of silver produced and delivered after January 1, 2022 and the satisfaction of each party's obligations in accordance with definitive documentation relating to the termination of the Yauliyacu silver stream. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks associated with any specific risks relating to the termination of the Yauliyacu silver stream and the satisfaction of each party's obligations in accordance with the terms of the definitive documentation relating to the termination of the Keno Hill silver stream, and other risks discussed in the section entitled "Description of the Business – Risk Factors" in Wheaton's Annual Information Form available on SEDAR at www.sedar.com, and in Wheaton's Form 40-F for the year ended December 31, 2021 and Form 6-K filed March 10, 2022 both available on EDGAR at www.sec.gov, as well as the risks set out in Wheaton's management's discussions and analysis for the period ended December 31, 2021 available on SEDAR and EDGAR (together, the "Disclosure"). Forward-looking statements are based on assumptions management currently believes to be reasonable, including (without limitation): the receipt of $150 million from Glencore, the estimated value of silver to be produced and delivered after January 1, 2022 and the satisfaction of each party's obligations in accordance with the terms of the definitive documentation relating to the termination of the Yauliyacu silver stream, and such other assumptions and factors as set out in the Disclosure. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Wheaton. Readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing readers with information to assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any forward-looking statement speaks only as of the date on which it is made, reflects Wheaton's management's current beliefs based on current information and will not be updated except in accordance with applicable securities laws. Although Wheaton has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward‑looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended.
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SOURCE Wheaton Precious Metals Corp. | https://www.whsv.com/prnewswire/2022/08/18/wheaton-precious-metals-enters-into-agreement-terminate-its-existing-silver-stream-yauliyacu-mine/ | 2022-08-18T21:49:36Z |
CROWN POINT, Ind., Aug. 18, 2022 /PRNewswire/ -- Yard Mastery Inc and EGO Power Plus (Chervon) partnered together to donate $12,000 cash and $1,500 in lawn equipment to a victim of domestic violence.
Mariana escaped domestic violence in 2019 with the help of services from St Jude House in Crown Point. She now lives in Lake County, IN, with her two children.
The $12,000 went to help with repairs around her home and for Mariana and her children to go on a summer vacation.
"I was here to create some content and also do some filming for EGO battery powered tools," said Allyn Hane, the owner of Yard Mastery Inc.
Hane is also the owner of the YouTube channel The Lawn Care Nut, which has more than 500,000 subscribers. He started his channel in Crown Point.
"When we heard that Mariana was in need of some tools just like these, we saw the chance to be a blessing to her," Hane said.
Yard Mastery and EGO also donated a combined $5,000 to St Jude House. Mariana was a client of St Jude House in 2019, and it was able to connect her with Yard Mastery and EGO.
"Our company believes in giving back, and it's great when partners like EGO believe the same way," said Josh Whitford, co-founder of Yard Mastery Inc.
"In this case we are not only helping Mariana and St Jude House, we are using our platform to spread an important message," Whitford said.
Yard Mastery Inc is an e-commerce business with "DIY First" as its goal. It partners with brands and develops its own products to meet the challenges faced by today's homeowners.
The Lawn Care Nut is a YouTube channel with 500,000 subscribers providing free lawn care tips to homeowners. The goal of the channel is to help other DIY "lawn care nuts."
St Jude's provides services to victims of domestic violence and/or sexual assault and their dependent children.
Media Contact: anthony@yardmastery.com
Video link: https://youtu.be/ZgEAX_i53ww?t=720
Social Media Links
The Lawn Care Nut Youtube Channel
https://www.youtube.com/channel/UCSjF378bQhLKO-ISsrHE7ng
Yard Mastery Instagram:
https://www.instagram.com/yardmastery/
EGO Power Plus Instagram
https://www.instagram.com/egopowerplus/
Yard Mastery FaceBook
https://www.facebook.com/yardmastery
EGO Power Plus Facebook
https://www.facebook.com/egopowerplus
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SOURCE Yard Mastery, Inc | https://www.whsv.com/prnewswire/2022/08/18/youtuber-uses-platform-help-single-mom-need-lawn-tools/ | 2022-08-18T21:49:42Z |
KOBLENZ, Germany — As ship captain Stefan Merkelbach navigates his tour boat down the Rhine River through the town of Koblenz, passengers take pictures of medieval castles and fortresses along the banks. Merkelbach's got his eye, though, on the ship's depth gauge, which hovers at around 5 feet deep. In a normal year, this stretch of the river is between 10 and 20 feet deep.
"We can still sail from Koblenz, but we've got several moorings we can no longer stop at because the water is too shallow," he says. "If it continues like this, parts of the river will be shut to shipping, something I've never experienced."
Europe's hot, dry summer means that the water level on the Rhine, Western Europe's most important waterway, is at a record low, making it too shallow for many ships to pass — a problem for a country that depends on the river for 80% of its water freight. Millions of tons of commodities are moved through the Rhine and shipping disruptions are certain to further impact Germany's economy, already reeling from global supply chain disruptions and record high energy costs stemming from Russia's invasion of Ukraine.
"It's less of a problem for us pleasure cruises, but freight ships and tankers are having problems," says Merkelbach. "Ships that usually take 2,400 metric tons of freight are now taking only 500 tons so they don't run aground — that's a massive reduction in load."
For this stretch of the river, that means more ships carrying fewer goods, drifting by a rapidly receding shore of brown rocks topped by dead grass and withering trees.
"Normally you see these huge container ships carrying goods from Rotterdam," says Adrian Schmid-Breton of the International Commission for the Protection of the Rhine. "But I haven't seen those ships on the river in weeks."
Instead, says Schmid-Breton, companies are opting to send fewer goods on more ships, leading to a more congested river. His commission estimates that low water levels happen, on average, once every 20 years. But the last time the Rhine was this low was just four years ago, in 2018. That year, Schmid-Breton says, German industry lost nearly $3 billion as goods weren't able to reach their destinations. Frankfurt Airport, one of the world's busiest, saw reduced jet fuel deliveries that year because companies weren't able to deliver fuel by boat.
This year, companies are scrambling to carry freight aboard trucks instead. But it's not enough: It would take 40 trucks to carry the grain that one barge normally could.
The flow of one of the most vital commodities, coal, is in jeopardy, and that could have severe consequences for Europe's biggest economy. "If there are problems transporting coal on the Rhine, we'll see shortages at coal-fired power plants in September, and they may not be able to generate electricity," says Guido Baldi, a researcher with the German Institute for Economic Research.
He predicts a coal shortage — in addition to ongoing global supply chain problems — will lead to Germany's economic output falling 0.5% in the third quarter. "This is particularly problematic now, as Germany attempts to wean itself off Russian gas and needs coal plants as a backup," Baldi says. "If the transport of coal is hindered, we'll see electricity shortages starting in September."
Baldi says drought, war and supply chain bottlenecks are sending Europe's biggest economy into a nosedive toward recession.
Schmid-Breton, of the International Commission for the Protection of the Rhine, says the environmental impact of this drought is equally bad. He says less water, that is heating up to warmer temperatures, is trouble for fish like Atlantic salmon, which were just reintroduced to the river. "Because of low water, they cannot reach their spawning sites," he says. "So they have to do emergency spawning. That means they will lose their eggs."
And with less water in the river, the concentration of pollutants rises, he adds, which will have an additional impact on every animal that lives along the river.
Schmid-Breton is encouraged by rain in the forecast this week, but he says the region will need two to three weeks of heavy, steady rain for the Rhine to return to normal — not likely, as this region heads into what is typically its driest season.
Esme Nicholson contributed to this report from Berlin.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2022-08-17/germanys-rhine-is-at-one-of-its-lowest-levels-thats-trouble-for-the-top-eu-economy | 2022-08-18T21:58:18Z |
Press freedom in Hong Kong has tanked in recent years. Many journalists have left the field, but a few have set up tiny outlets to report on local issues and try to hold the authorities to account.
Copyright 2022 NPR
Press freedom in Hong Kong has tanked in recent years. Many journalists have left the field, but a few have set up tiny outlets to report on local issues and try to hold the authorities to account.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/a-small-handful-of-journalists-are-trying-to-keep-press-freedom-alive-in-hong-kong | 2022-08-18T21:58:24Z |
NPR's Mary Louise Kelly speaks with Ronald Jocelyn, the education director of the Hope for Haiti, about conditions on the ground in Haiti one year after a devastating earthquake hit the country.
Copyright 2022 NPR
NPR's Mary Louise Kelly speaks with Ronald Jocelyn, the education director of the Hope for Haiti, about conditions on the ground in Haiti one year after a devastating earthquake hit the country.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/a-year-after-an-earthquake-devastated-haiti-one-aid-official-says-there-is-hope | 2022-08-18T21:58:30Z |
NPR's Ailsa Chang speaks with former Afghanistan Minster of Education Rangina Hamidi after speaking to her a year ago, as Taliban forces captured city after city in the country.
Copyright 2022 NPR
NPR's Ailsa Chang speaks with former Afghanistan Minster of Education Rangina Hamidi after speaking to her a year ago, as Taliban forces captured city after city in the country.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/a-year-later-former-afghanistan-education-minister-reflects-on-her-country | 2022-08-18T21:58:37Z |
Cleveland Browns quarterback Deshaun Watson will sit out 11 games and pay a $5 million fine. Watson agreed to the increased punishment after dozens of sexual misconduct allegations.
Copyright 2022 NPR
Cleveland Browns quarterback Deshaun Watson will sit out 11 games and pay a $5 million fine. Watson agreed to the increased punishment after dozens of sexual misconduct allegations.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/deshaun-watson-to-sit-out-11-games-and-pay-5-million-in-sexual-misconduct-case | 2022-08-18T21:58:43Z |
Former chief financial officer of the Trump Organization Allen Weisselberg has plead guilty for his role in a tax fraud scheme that lasted 15 years.
Copyright 2022 NPR
Former chief financial officer of the Trump Organization Allen Weisselberg has plead guilty for his role in a tax fraud scheme that lasted 15 years.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/former-trump-executive-allen-weisselberg-pleads-guilty-for-role-in-tax-fraud-scheme | 2022-08-18T21:58:49Z |
A local journalist in small town New York and an aspiring writer in Eastern Ukraine discovered they had a lot more to learn from each other than either expected.
Copyright 2022 NPR
A local journalist in small town New York and an aspiring writer in Eastern Ukraine discovered they had a lot more to learn from each other than either expected.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/how-a-journalist-and-an-aspiring-writer-in-ukraine-grew-while-working-on-a-news-site | 2022-08-18T21:58:55Z |
A new NPR/Ipsos poll shows that big numbers of Americans believe incorrectly that "most" of the fentanyl entering the U.S. is smuggled by migrants. It's not the only misleading claim getting traction.
Copyright 2022 NPR
A new NPR/Ipsos poll shows that big numbers of Americans believe incorrectly that "most" of the fentanyl entering the U.S. is smuggled by migrants. It's not the only misleading claim getting traction.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/many-americans-falsely-think-migrants-are-bringing-most-of-the-fentanyl-entering-u-s | 2022-08-18T21:59:01Z |
A new study published in Thursday's edition of Cell reports that a mosquito's sense of smell is more complicated than we once thought. And it may explain how this pesky insect is so good at seeking you out at a barbecue or in your bedroom, and digging its proboscis into your skin — as well as lead to new strategies to ward off the potentially deadly diseases transmitted by its bite.
Meg Younger, a neuroscientist at Boston University, is co-author of the study. When I visited her lab, she introduced me to her subjects, opening up a large incubator set to a balmy 80 degrees. Cubes, each a foot square and stretched with fine white mesh, are packed onto the shelves. Each cube is filled with 100-plus mosquitoes.
"I showed this to a friend the other day," Younger says with a smile. And her friend said it looked "like a mosquito hotel." It's safe to say that Younger is the de facto hotel manager. She places one of the mosquito-filled cubes on a lab bench, and exhales gently into it. A waft of carbon dioxide blows across the insects, and they go wild.
"They all get up and fly around and they'll do that for a few minutes," Younger explains. "And now, in this state, they're sensitized to look for other cues." Cues that would steer them to a target like the complex blend of human body odor — an aroma that's magnetic to a mosquito.
In many parts of the world, this attraction isn't merely a nuisance for humans. It's a major health problem. "The ones that prefer humans tend to be the ones that transmit diseases among humans," Younger says. These ailments include dengue, Zika, chikungunya and malaria. The latter disease alone causes over half a million deaths each year.
So scientists have attempted to break this attraction. But try as they might, the little mosquito has resisted. "They're really good at what they do," Younger says. Mutate a mosquito so it's insensitive to carbon dioxide — which primes them to scan for cues like odor — or fiddle with portions of its ability to smell and it can still zero in on people and bite them.
Younger admits it's been frustratingly hard to find chemical means of battling mosquitoes. "We've hit on certain things at random," she says, such as what led to DEET. "And if we were able to learn [more about] how mosquitoes are finding people, the more potential starting points we'll have to develop these new repellents or conversely, attractants for traps."
By peering into the mosquito's brain to decipher how it smells its surroundings, Younger and her colleagues — Leslie Vosshall of the Howard Hughes Medical Institute and Rockefeller University, Margo Herre of Rockefeller University, and Olivia Goldman of Rockefeller University — have taken steps to do just that.
Most of what we know about the neuroscience of smell comes from mice and fruit flies, where the wiring's fairly simple. Each neuron in the nose or antenna has one kind of receptor that detects a single kind of odor — say, a banana. And all the neurons with receptors for the banana smell connect to the same part of the brain.
Of course, there are hundreds of different receptors responding to countless odors. But this mechanism of one kind of receptor per neuron has been the party line for how smell generally works. Until Younger and the others started poking around inside mosquito brains, where she found that each neuron has multiple receptors that can detect multiple odors.
"I saw this and in my head, I was like, 'This is weird,'" she says. "And I just thought, 'Huh, weird is good.' Cause it's fun to study something that's new and different and it's fun to be surprised."
Younger thinks this finding that a mosquito's sense of smell is organized differently than expected (i.e., many neurons house multiple receptors instead of one) may explain why its ability to sniff people out is so tamper-proof. It gives the insect a kind of built-in redundancy in the system. For instance, Younger speculates that because humans all smell different than one another, mosquitoes may rely on this redundancy to broaden their target of what a person smells like.
This work could give researchers additional ways to thwart the bugs, like developing traps that contain new fragrance blends that are more alluring than people.
"It's an enormous study," says Josefina del Marmol, a molecular neurobiologist at the Harvard Medical School who wasn't involved with the research. She says there's more work to be done to verify, neuron by neuron, that each one actually responds to all the odors it has receptors for.
But she applauds the central finding. "It really does change a lot about what we know of how insects perceive the world," del Marmol says. "It's a lot more complex than we thought."
In her lab, Meg Younger stares at the mosquitoes darting about inside that hotel. And she can't help but marvel at the complexity tucked into a brain less than a millimeter across.
"You know, nervous systems are so powerful," she considers aloud, "that even one that's so small allows for so much."
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2022-08-18/mosquitoes-surprise-researcher-with-their-weird-sense-of-smell | 2022-08-18T21:59:07Z |
Fort Worth's Sunflowerman makes use of every method he can to show his art to the public.
The artist, real name Matthew Miller, is a 33-year-old fashion illustrator and a recent Cowtown transplant. He moved to Fort Worth a little over four years ago.
But like many artists today, he uses everything at his disposal, from social media to public art to NFTs to apparel, to make a name for himself in a hypercompetitive media landscape where alternate streams of entertainment are only a click away.
Miller's new public artwork, "Fashion World," is a multimedia exhibition displayed on the façade of the former H&M storefront on 3rd and Commerce Streets. "Fashion World" synthesizes the artist’s interest in fashion and technology with a style that is uniquely Fort Worth. It also combines the old with the new – physical art with digital art.
On the second story of the building's facade, Miller used LED lights in vinyl to make winged longhorns dance across the windows, the faux-neon lights blinking to evoke the illusion of motion.
At ground level, the backdrop inside the store's window display glows like a perpetual sunset. Watercolor paintings hang side-by-side, each portraying two floating figures reaching out towards one another. A "Fashion World" branded denim jacket hangs in the display, hand-painted by the artist.
A screen to the side of the physical paintings links viewers to the artist’s digital storefront, where one can purchase non-fungible tokens (NFTs) of the exhibition’s art.
NFTs are essentially proof that someone owns a digital, unique image or video. NFTs are bought, sold, and use the same blockchain (a digital public list of all the transactions made) as cryptocurrencies. A more thorough explanation of the NFT phenomenon can be found here.
Like any other asset, NFTs hold value, which can go up or down depending on the market. So, why do a project like this now, when the market for NFTs and cryptocurrency is in freefall?
“It’s a terrible answer, [but] why not now?” said Miller.
“We've had the big crash, but the technology has already influenced so much of society. I think to imagine that. . . crypto and NFTs. . . aren’t going to affect our lives is crazy. So, to not try to understand it seems like poor planning. We’re still so early in society’s understanding of what blockchain technologies can do for us.”
Like cryptocurrency, NFTs are criticized for the amount of energy they require. Ethereum, the most popular cryptocurrency/blockchain for NFTs, is notorious for the sheer amount of power it takes to finalize a single transaction.
Miller wanted to address that concern with his line of NFTs.
“The fear of excess energy use is concerning across everything in society, and to have it exacerbated by blockchain technologies is very concerning," he said. "It’s why I’m staying away from Ethereum.”
The NFTs for "Fashion World" operate on the Tezos blockchain, which uses “by some estimates, 99.9 percent less energy to actually run the programs,” said Miller.
Many see artists using NFTs as an easy cash grab and their work as just another way for the uber-wealthy to store value.
“It’s not unlike the actual established art world we have today, where artists establish galleries that buy their work at exorbitant prices to increase the value of their work,” Miller mused.
“It’s analogous to the real-world system we already have. It’s just that it’s now on the Internet and done with new money rather than old money.
As much as I despise some of the practices in the modern art world, I still love art. I still create it and try to make my own living. There’s value in art beyond the outrageous stored value people try to use to manipulate their own wealth and taxes.”
Miller’s true love for art shows in all his projects. He used his art to promote mask wearing during the depths of the pandemic. His mask-positive artwork was posted all around Sundance Square.
He paints photorealistic representations of watches, commissioned by watch enthusiasts around the world. He has a robust Instagram presence, offering a behind-the-scenes look at his artistic process.
Miller is also starting a line of Sunflowerman coffee beans, a passion project for a man with a deep appreciation for fine coffee. (His collection of intricately designed espresso cups from his travels around the world lives at his studio in downtown Fort Worth.)
Keeping up with the latest technologies can help artists pierce public consciousness. While that's always been true, today it can be a huge challenge. And not every artist has to do it.
"Maintaining an understanding of developing technologies and cultural trends is going to provide any artist with the best chance of having a long career but the opportunities in the arts are vast," said the artist following the interview, adding that "there's no one way to make it."
Ultimately, Miller is undeterred by the challenges today's artists face. He knows what matters most: the art itself.
“I want it to be beautiful, first of all. The concept is for me.” | https://www.keranews.org/2022-08-18/painting-fashion-and-nfts-this-window-exhibit-in-fort-worths-sundance-square-does-it-all | 2022-08-18T21:59:13Z |
Feeling vindicated by recent evidence of an Iranian plot to kill former U.S. national security adviser John Bolton, opponents to reviving the nuclear deal with Iran are pressing their case.
Copyright 2022 NPR
Feeling vindicated by recent evidence of an Iranian plot to kill former U.S. national security adviser John Bolton, opponents to reviving the nuclear deal with Iran are pressing their case.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/some-see-irans-assassination-plots-as-yet-another-reason-not-to-revive-nuclear-deal | 2022-08-18T21:59:19Z |
It's been one year since a flood tore through Waverly, Tenn., and killed 20 people. There's been lots of effort to rebuild but it's still unclear if the town will ever be the same.
Copyright 2022 NPR
It's been one year since a flood tore through Waverly, Tenn., and killed 20 people. There's been lots of effort to rebuild but it's still unclear if the town will ever be the same.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/some-survivors-remain-traumatized-a-year-after-a-flood-killed-20-in-waverly-tenn | 2022-08-18T21:59:25Z |
For as long as I can remember, I’ve enjoyed jumping off stuff.
From the wayward toddler to the crusty old bachelor, Luke has never been afraid to take leaps. Sometimes, these are metaphorical, but quite often, they are literally jumping down from something high up. The thrill you get when you freefall through the sky is uninhibited and primal, and as you escalate the height from stool to airplane, the rush increases exponentially.
My single greatest experience was neither fishing- nor sports-related as it is with many of my same-age peers. No, it was the time I went skydiving. It happened to be my first time on an airplane, so I think that heightened the thrill a bit. The first few seconds out of the plane, I fell through thick white clouds. I couldn’t see anything. I’m not entirely sure of the science behind why my excited yell was silent. Maybe the air was too thin, maybe I was falling too fast, but it came out silent. When we finally fell through the clouds, and I watched myself rushing toward the ground, it was exhilarating.
Pulling the chute was the least pleasant part, as it felt like getting kicked in the crotch and punched in the stomach at the same time, but once the wind caught the fabric and let us coast to the ground with the best view I’ve ever had, it was fabulous.
Despite how much I loved it, I’ve not been skydiving again, but I’d certainly like to. Anyone up for it?
I’ve also been bungee jumping in New Zealand with the outfit that invented the sport and done every fall-to-your-death-type ride I’ve come across at amusement parks.
Most of my thrills are tamer and usually just involve jumping off cliffs or rocks I find while fishing. The thrill is always present, and though it is a nice way to cool off on a hot day of fishing, I unapologetically do it for the adrenaline rush. Fishing can provide an adrenaline rush — especially when fighting a large fish — but in my experience, only large sharks provide the same level of endorphins as a leap from a high place.
Leaps
As I traveled last summer, I jumped off rocks and cliffs and dams that were all brand-new to me.
It’s generally a good idea to swim or wade the area you plan to jump into before taking a leap. Shallow water, hidden rocks, floating logs or even swimmers or divers can really hurt or even kill you if you leap without looking.
Be careful.
After wade-swimming through a crystal-clear pool in a small arroyo in central Arizona searching for desert suckers last summer, I knew the water in the crystal clear pool at the base of the smooth sandstone cliffs was about 15 feet deep. I jumped in several times, my feet coming nowhere near the bottom.
A few states later, while fishing the San Marcos River near San Antonio, I saw a group of high school kids jump off an old masonry dam into a pool below. Four of them went, one after the other, and I figured I’d try it. The dam had a concrete walkway extending out about six feet from the dam itself. It was maybe 20 feet up from the water below, and it allowed you to sort of walk or run up to the edge to jump with a little momentum. I did that and opted to front-flip off of it.
My feet hit the water below me but too quickly crashed into gravel. My knees were bent, and I quickly drew them up to my chest and avoided injury, but it was a bit harrowing. As I swam out and stood on the bank, I stood next to the high schoolers and realized they were all about a foot shorter than me. The next time, I didn’t jump out as far and landed in the deepest point of the catch pool, the eight inches of additional depth providing me a lot more cushion and preventing my now-tucked feet from touching the bottom. I exercised some caution, but it could’ve been a lot worse if I’d opted to dive, jumped too far out or kept my knees locked below me.
After three or four jumps, I walked back to my car a lot cooler for my efforts.
Jump
You can find that refreshment, too.
Now, I’m about to recommend places to go rock jumping while the summer heat is still doing its best to melt us all. Please don’t be stupid.
Check the water levels to make sure it’s deep enough to accommodate your height and weight by swimming through the landing zone first.
Look for logs, rocks and other people before jumping.
Wear a life jacket if you’re not a strong swimmer. Even if you are a strong swimmer, it’s still a good idea. The buoyancy can also prevent you from diving too deep and hitting your feet on the bottom.
Have someone nearby to save you if you get knocked unconscious.
Don’t let small children jump unaccompanied.
Don’t jump holding someone else because you might smash your heads together.
Don’t drink or do drugs while cliff jumping. You need to be at peak mental acuity.
Assuming you use good judgment, there are a few nearby places to jump into the water, with varying degrees of difficulty, risk and complicating factors such as current.
One of the best places to get started is Lost Creek Lake, near Stewart State Park. Park near the Lost Creek Dam and walk the trail to the dam. There is a series of ascending cliffs going all the way up from the surface of the water to the top of the dam.
You can start with a three- or five-foot jump and work your way up as high as you’re comfortable. The highest I’ve cliff-jumped was there, around 80 or 85 feet. At that height, it is physically painful on the soles of your feet when you hit the water, and if you don’t jump right, you can severely bruise your buttocks and genitals (speaking from a friend’s experience), so it’s not worth it until you’ve worked up the skills necessary.
Water levels are low in the summer, so I would avoid the top three or four steps of the cliffs and definitely do not jump off the dam. There is no current there, and the deep waters at the base of these cliffs are typically at least 20 feet deep, but you should always swim in the landing zone and ensure it’s at least two or three times your height before jumping in.
Closer to home, you can find another fairly easy jump at the Williamson River between the Highway 97 bridge and the Water Wheel Campground in a public access area just off the highway. There is an old stream gauging station with concrete walls rising about 10-15 feet above the water’s surface. Be sure to jump out as far as you can to avoid the rocks at the bottom and note there is some current, so have a friend nearby or wear a lifejacket unless you’re a very strong swimmer.
The Klamath River Canyon offers dozens of locations to jump, but with low water, current and rocks, they can be very sketchy. Always swim below your intended drop zone here. Topsy Reservoir’s northern shore downstream of Highway 66 has some cliffs popular with jumpers, but the water is kinda gross late in the summer.
For cleaner water, try one of the monoliths rising up from the middle of the Rogue River in the stretch near Shady Cove or go to Crater Lake National Park and jump off the rocks at the bottom of the long trail to the bowl or even from the rocks on Wizard Island.
Jumping off rocks too scary for you? Try making a trip out to Rocky Point and jumping off the docks or renting a kayak or boat from Rocky Point Resort and jumping out of that into the calm, cold waters below.
Low water will limit your options, but you can find a place to make a splash. Just remember to look before you leap!
For similar stories, read the author’s book, “Fishing Across America” which is available for preorder now at https://bit.ly/3MKucLp. Sign up for every single CaughtOvgard column at www.patreon.com/CaughtOvgard. Read more for free at caughtovgard.com; Contact luke.ovgard@gmail.com. Thank you for your continued support of local journalism. | https://www.heraldandnews.com/outdoors/columnist-has-a-lifelong-love-affair-with-jumping-off-things/article_d0d2f8ea-1f33-11ed-91c1-5779f5d0de85.html | 2022-08-18T21:59:29Z |
Students in Jackson, Miss., are already back at their school desks. The district — like so many in the nation — is working to help students recover academically and emotionally from the pandemic.
Copyright 2022 NPR
Students in Jackson, Miss., are already back at their school desks. The district — like so many in the nation — is working to help students recover academically and emotionally from the pandemic.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/the-3rd-school-year-since-covid-hit-has-begun-heres-how-students-and-staff-feel | 2022-08-18T21:59:32Z |
CRATER LAKE NATIONAL PARK — Bicyclists and others planning to participate in the Crater Ride the Rim 2022 on two Saturdays in September, the 10th and 17th, can take advantage of a shuttle service in the park.
Ride the Rim organizers said trolleys will be available to transport bicyclists, walkers, joggers and others. Trolleys will shuttle participants with stops at parking areas at park headquarters in Munson Valley, Picnic Hill in Rim Village and the North Junction. East Rim Drive will be closed to motor vehicles from the North Junction to park headquarters. The free rides will be offered on both directions along West Rim Drive. Helmets are required for all ages, including adults. Because Rim Drive is closed for both Ride days from the North Junction to park headquarters, most participants begin from that location.
On both days, 25 miles of the 33-mile-long Rim Drive from the North Junction to park headquarters will be closed to motor vehicles from 8 a.m. to 6 p.m. Five rest stops will be available but there will be no sag wagons. Basic bike repair tools and basic first aid kits will be available at the rest stops.
Un-fenced bike corrals will be located at both the North Junction and park headquarters. The corrals can be used to park bicycles while riding the shuttle to begin the ride and to retrieve parked vehicles.
In addition, organizers said a concessionaire, Explore Southern Oregon, will offer a round-trip shuttle from Klamath Falls to Crater Lake and back Sept. 10 for $99. Space is limited. Shuttles will leave at 6 and 9 a.m. For details and reservations visit southernoregontours.com.
Ride organizers also issued a list of “What to Expect” items. Although snacks water and other amenities are offered, the event relies on donations so “we do not have control over much or little is provided. We suggest you bring a few things with you so you can be best prepared.” Among items participants should carry are refillable water bottles, snacks, layers of clothing because of possible cool weather, and bike repair tools.
Participants are also reminded that because of the park’s high elevation people, especially those from lower elevations, may face possible symptoms of altitude sickness. The elevation at park headquarters is 6,450 feet. The elevation at both Rim Village, 3 miles from headquarters, and Discovery Point, 4.1 miles from headquarters, is 7,100 feet.
Other waypoints, with distances from park headquarters and elevation along Rim Drive, include: The Watchman Trailhead,4.1 miles, 7,350; North Junction, 9.1 miles, 7,050; Cleetwood Cove, 13.7 miles, 6,850; Wineglass, 16.5 miles, 6,700; Skell Head, 17.9 miles, 7,100; Kerr Notch, 24.4 miles, 6,700; Dutton Ridge, 27 miles, 7,350; Vidae Falls, 30 miles, 6,600; and park headquarters, 33 miles, 6,450.
Organizers also note the Cloudcap Overlook, which veers off Rim Drive just past the Whitebark Pine Rest Stop, is a mile-long one-way detour to the park’s highest road access overlook at an elevation of 7,700 feet. The overlook offers views of Wizard Island and Mount Scott.
Ride the Rim swag, including 2022 logo T-shirts and jerseys, are available and images can be viewed at discoverklamath.com.
Other events in Klamath Falls are also scheduled on the two Ride the Rim dates.
On Saturday, Sept. 10, comedian Chris Kattan will appear at the Ross Ragland Theater as part of the ongoing Ragland Comedy Nights series co-sponsored by the Ragland and Retro Room Records.
Ride the Rim participants can receive a $5 discount for admission to the Klamath Basin Oktoberfest on Saturday, Sept. 17. To receive a discount people must either show a Ride the Rim registration confirmation or a wristband, which will be available at park headquarters or the North Junction. | https://www.heraldandnews.com/outdoors/cycling-event-coming-shuttle-available-for-crater-ride-the-rim/article_5afcb67a-1f32-11ed-b6b1-430167a8b282.html | 2022-08-18T21:59:35Z |
Environmental damage is a threat to the global economy but it's hardly counted in economic figures like the GDP. The Biden administration is unveiling an effort to give a more holistic accounting.
Copyright 2022 NPR
Environmental damage is a threat to the global economy but it's hardly counted in economic figures like the GDP. The Biden administration is unveiling an effort to give a more holistic accounting.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/the-biden-administration-aims-to-make-nature-a-measurable-part-of-the-u-s-economy | 2022-08-18T21:59:38Z |
A judge today told the Justice Department it must provide a redacted version of the affidavit behind the search of Trump's Mar-A-Lago residence by next Thursday, Aug. 25.
Copyright 2022 NPR
A judge today told the Justice Department it must provide a redacted version of the affidavit behind the search of Trump's Mar-A-Lago residence by next Thursday, Aug. 25.
Copyright 2022 NPR | https://www.keranews.org/2022-08-18/the-government-must-provide-a-redacted-affidavit-justifying-the-mar-a-lago-search | 2022-08-18T21:59:44Z |
If the pandemic has taught Hollywood anything, it's that storytelling finds a way. Witness two new documentaries in which first-time directors not only deal with memory and loss but also embed them in cameras and images.
The Territory, Alex Pritz's look at a threatened Indigenous community in Brazil shows how cameras can be weapons.
Three Minutes: A Lengthening, Bianca Stigter's striking exercise in cinematic forensics reinvents form — turning three minutes and 33 seconds of pre-WWII vacation footage into a 69-minute detective story.
Lengthening 'Three Minutes'
Stigter begins by playing all of her footage — every second — accompanied only by the sound of a shutter clicking in a projector. We see people milling in a public square, children laughing as they crowd toward the cameraman and then scooting across cobblestones to stay in the frame as he turns. One boy in a cap playfully pretends to strangle the girl standing next to him. Worshipers emerge from a synagogue. A family dines in a restaurant as kids peer in the window.
It's all remarkable for not being remarkable...at first.
"These three minutes of life were taken out of the flow of time by David Kurtz in 1938," says narrator Helena Bonham Carter. "His grandson, Glenn Kurtz, discovered them in 2009 in a closet in Palm Beach Gardens, Florida."
But with no markings, nothing to indicate where the footage was shot, Kurtz was initially at a loss as to what he was viewing. If you don't see the Eiffel Tower, he thought, how do you know you're in Paris?
His relatives guessed the images might have come from his grandmother's hometown near the Polish-Ukrainian border, but it turned out to be his grandfather's birthplace, the Polish town of Nasielsk, about 30 miles north of Warsaw. Nasielsk had 7,000 residents in 1938, of whom 3,000 were Jewish. Only about 100 survived the Holocaust.
Finding a grandfather as an apple-cheeked lad of 13
As the shots were clearly from the Jewish quarter, Kurtz donated the film to the Holocaust Museum in Washington D.C., which had it digitized and placed for public viewing on its website. And as Kurtz kept searching for clues to the identities of the people on screen — deciphering grocery store signs, hints from clothing — he was contacted by a woman who recognized her grandfather, Maurice Chandler, in an apple-cheeked lad of 13. And he recognized others in the crowd – a pal from yeshiva...another boy his mother wouldn't let him play with.
Working from Glenn Kurtz's book Three Minutes in Poland: Discovering a Lost World in a 1938 Family Film, Stigter (who is married to 12 Years A Slave director Steve McQueen) never reaches for visuals outside the original footage. But she finds fresh fascination in those images every time she revisits them — fragmenting and replaying moments, zooming in to examine faces, or to highlight interactions.
Or at one point, to note the buttons on coats and dresses, which occasions Chandler's liveliest childhood story, as well as the narrator's observation that those buttons were likely made in the town's button factory, which was repurposed by the Nazis a few years later.
It's a fascinating, and exhaustive — but never exhausting — exercise in cinematic forensics. How much can we learn from images? Time of day? Yes. Location? Sure. Social class? Absolutely. But state of mind?
"That smile," growls Chandler as he looks at his beaming 13-year-old self. "I must've been happy or something. If somebody'd told me what, a couple of years later, I was gonna have to do, I wouldn't believe it probably."
A narrative of discovery, an exploration of memory, a meditation on loss and cinema, all in a lengthening of three minutes.
Eerie echoes in 'The Territory'
It may not seem likely, but there are eerie echoes of many of those same elements in The Territory: marginalized people all but exterminated, their world laid waste, and a sense of loss amid possibility. All captured by cameras that can freeze moments for posterity, but that director Alex Pritz suggests can maybe do more than that.
The film begins in 2018, with an Indigenous community's struggle to protect what Pritz calls their "island of rainforest surrounded by farms."
"In the 1980s," reads an opening title, "the Brazilian government first contacted the Uru-eu-wau-wau people. From a population of thousands fewer than 200 remain."
Bitaté, a clear-eyed teen activist, is among them, swimming in a tributary, romping with other kids, and working with Neidinha, a middle-aged non-Indigenous activist he refers to as a second mother, to combat a national government that seems hellbent on destroying his home.
"Do you ever worry about our people disappearing?"
In the run-up to Brazil's elections, Bitaté watches Jair Bolsonaro, who will soon be elected president, promise a cheering campaign throng that once he's in office, "there won't be one more inch of Indigenous reserve."
Bitaté asks his grandfather, "Do you ever worry about our people disappearing?"
His grandfather's response: "It's up to the next generation now."
Bitaté is that next generation, but so are others, and though there's never any question where the filmmaker's sympathies lie, Pritz gives them all a moment in the spotlight.
The film introduces Sergio, a 49-year-old farm worker who's spent his life laboring on other people's land, and has dreams of owning a farm. He's formed a farmer's association, which opens its meetings with prayers citing the divine calling of working with nature. "If you don't claim the land," he tells his followers, "someone else will."
"The government will support us, just not now"
Sergio's doing paperwork to get government approval for a massive settlement — he envisions "a thousand families" — on what he regards as land going to waste.
The Indigenous people, he says, "don't create anything; they just live here."
Then there's Martins, who has no time for bureaucratic niceties. He's clearing roads, burning and chopping down trees, all but daring the police to stop him.
This is how nations are built, he asserts. "It makes me sick knowing we're considered criminals like we're the ones hurting the country. The government will support us, just not now."
The film finds haunting moments in this ongoing environmental tragedy — pulling the camera's focus back from farmers spraying pesticides, to note a butterfly settling on a leaf. Pairing shots of children racing through the woods with a single-file line of ants carrying leaves. Flying high over the trees to contrast the sinuous curves of the Amazon with the brutally straight outlines of farms.
Or following Bitaté as he and his fellow activists make citizens' arrests for criminal activities the authorities would otherwise ignore. A reluctant recruit when the community's elders decided to anoint him as their leader at the age of 18, he sees the Amazon as "the heart, not just of Brazil, but of the planet."
And he's media-savvy enough to know he and his fellow environmental warriors need help to make their case. When COVID strikes, and the presence of outsiders shooting news footage would endanger lives, Bitaté tells the TV journalists he's cultivated, "just send us your shot list. We'll take care of it." Then he heads out with his team, armed with bows, arrows and video-drones.
This makes The Territory – not unlike Three Minutes: A Lengthening — a testament not just to how loss and remembrance work, but to how the camera can shape them.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2022-08-18/the-territory-and-three-minutes-a-lengthening-find-cinematic-hope-in-tragedy | 2022-08-18T21:59:50Z |
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Jupiter's icy moon Europa is an ocean world encased beneath a thick crust of ice -- a place where snow floats upward.
The underwater snow forms in the global ocean and travels up though the water to attach to submerged ravines and inverted ice peaks, according to new research. This same phenomenon takes place below ice shelves on Earth -- and it may be how Europa builds its ice shell.
The finding, published Monday in the journal Astrobiology, suggested Europa's ice shell may not be as salty as scientists first thought. Understanding the salt content of the ice crust is crucial as engineers work on assembling NASA's Europa Clipper spacecraft, which is preparing to launch to Europa in October 2024.
Europa Clipper will use ice-penetrating radar to look beneath the shell and determine if the moon's ocean is potentially habitable for life. Any salt within the ice shell could impact how deep the radar can penetrate through it, so predictions about the shell's composition are key.
Clues about the ice shell could also help scientists determine more about Europa's ocean, its salinity and its potential to harbor life.
Europa's ice shell is between 10 and 15.5 miles (15 and 25 kilometers) thick, and it likely sits on top of an ocean that's estimated to be 40 to 90 miles (60 to 150 kilometers) deep.
"When we're exploring Europa, we're interested in the salinity and composition of the ocean, because that's one of the things that will govern its potential habitability or even the type of life that might live there," said lead study author Natalie Wolfenbarger, a doctoral student researcher at the University of Texas Institute for Geophysics in the UT Jackson School of Geosciences, in a statement.
Wolfenbarger is also a graduate student affiliate member of the Europa Clipper science team. Researchers at The University of Texas at Austin are developing the spacecraft's ice penetrating radar.
Europa's ocean nearest to its shell has a temperature, pressure and salinity similar to the water beneath ice shelves in Antarctica, previous research has suggested.
The researchers studied the two methods of water freezing beneath ice shelves on Earth: congelation ice and frazil ice.
What's the difference? Congelation ice actually grows from beneath the ice shelf, while frazil ice drifts up through superchilled seawater in flakes before settling beneath the ice shelf.
Both of these types result in ice that has less salinity than seawater -- and according to the researchers' projections, seawater was even less salty when they applied this data to the age and scale of Europa's ice shell.
Frazil ice may be the most common type on Europa, which would make the ice shell much more pure than previously believed. Frazil ice only preserves a tiny fraction of the salt that exists in seawater. The purity of the ice shell can impact its strength, ice tectonics and how heat flows through the shell.
"We can use Earth to evaluate Europa's habitability, measure the exchange of impurities between the ice and ocean, and figure out where water is in the ice," said study coauthor Donald Blankenship, a senior research scientist at the University of Texas Institute for Geophysics, in a statement. He is the principal investigator for Europa Clipper's ice penetrating radar instrument.
The finding may suggest that Earth can be used as a model to better understand Europa's habitability.
"This paper is opening up a whole new batch of possibilities for thinking about ocean worlds and how they work," said Steve Vance, a research scientist at NASA's Jet Propulsion Laboratory in Pasadena, California, in a statement. "It sets the stage for how we might prepare for Europa Clipper's analysis of the ice." Vance was not involved in the study.
Meanwhile, work is underway on the core of the Europa Clipper spacecraft at the Spacecraft Assembly Facility at NASA's Jet Propulsion Laboratory.
The core, which stands 10 feet (3 meters) tall and 5 feet (1.5 meters) wide, has taken center stage in the clean room, where NASA teams have assembled spacecraft like Galileo, Cassini and the Mars rovers.
The flight hardware and science instruments will be installed on the spacecraft by the end of the year. Then, engineers will put the spacecraft through a series of tests during the lead-up to launch.
Europa Clipper will arrive at the Jovian moon in April 2030. Across nearly 50 planned flybys of Europa, the spacecraft will eventually transition from an altitude of 1,700 miles (2,735 kilometers) to just 16 miles (25 kilometers) above the moon's surface.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved. | https://www.kitv.com/news/national/underwater-snow-reveals-new-clues-about-europa-as-ocean-world-missions-draw-closer/article_41baccf9-d2bb-5fed-b39f-22a77e8f388c.html | 2022-08-18T22:08:10Z |
City of Bluefield seeking resident’s input on 10 year plan
BLUEFIELD, W.Va. (WVVA) - Yesterday, The City of Bluefield held their first meeting regarding their upcoming 10 year comprehensive plan. Each city in the state of West Virginia has to create this plan every decade.
This time around, the city is hoping to improve housing for residents and attract new citizens.
“At one point the city of Bluefield had 30 thousand residents, we’re down to about 9,700 , 9,800 residents. We’re having some great success in bringing businesses here , but the next issue is of course housing for the folks who are coming here to live and bring their families.” said city manager Cecil Marson.
In addition to housing infrastructure, the city plans to improve roads and revitalizing Bluefield’s downtown.
The city wants its residents input on what change they want to see in their surroundings, and will hold a variety of town halls over the next 8 months.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/08/18/city-bluefield-seeking-residents-input-10-year-plan/ | 2022-08-18T22:08:11Z |
Train crashes into car in McDowell County
LANDGRAFF, W.Va. (WVVA) - The chief of Kimball’s Fire Department, Jimmy Gianato says a Norfolk Southern train hit a car at the intersection of Route 52 and Empire Street in Landgraff. Firefighters got the call at about 1:30pm on Thursday. Gianato says the train hit the car and pinned it between the train and a train trestle.
The car then caught fire. No injuries have been reported as a result of the crash and the fire has been put out.
“When we pulled up there was heavy smoke coming from the side of the train where the locomotive was. We initially put the fire out on the side trying to make sure we didn’t have a larger fire with the locomotive,” said Gianato.
We have reached out to Norfolk Southern for a statement about the crash and will update you as we learn more.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/08/18/train-crashes-into-car-mcdowell-county/ | 2022-08-18T22:08:17Z |
KOBLENZ, Germany — As ship captain Stefan Merkelbach navigates his tour boat down the Rhine River through the town of Koblenz, passengers take pictures of medieval castles and fortresses along the banks. Merkelbach's got his eye, though, on the ship's depth gauge, which hovers at around 5 feet deep. In a normal year, this stretch of the river is between 10 and 20 feet deep.
"We can still sail from Koblenz, but we've got several moorings we can no longer stop at because the water is too shallow," he says. "If it continues like this, parts of the river will be shut to shipping, something I've never experienced."
Europe's hot, dry summer means that the water level on the Rhine, Western Europe's most important waterway, is at a record low, making it too shallow for many ships to pass — a problem for a country that depends on the river for 80% of its water freight. Millions of tons of commodities are moved through the Rhine and shipping disruptions are certain to further impact Germany's economy, already reeling from global supply chain disruptions and record high energy costs stemming from Russia's invasion of Ukraine.
"It's less of a problem for us pleasure cruises, but freight ships and tankers are having problems," says Merkelbach. "Ships that usually take 2,400 metric tons of freight are now taking only 500 tons so they don't run aground — that's a massive reduction in load."
For this stretch of the river, that means more ships carrying fewer goods, drifting by a rapidly receding shore of brown rocks topped by dead grass and withering trees.
"Normally you see these huge container ships carrying goods from Rotterdam," says Adrian Schmid-Breton of the International Commission for the Protection of the Rhine. "But I haven't seen those ships on the river in weeks."
Instead, says Schmid-Breton, companies are opting to send fewer goods on more ships, leading to a more congested river. His commission estimates that low water levels happen, on average, once every 20 years. But the last time the Rhine was this low was just four years ago, in 2018. That year, Schmid-Breton says, German industry lost nearly $3 billion as goods weren't able to reach their destinations. Frankfurt Airport, one of the world's busiest, saw reduced jet fuel deliveries that year because companies weren't able to deliver fuel by boat.
This year, companies are scrambling to carry freight aboard trucks instead. But it's not enough: It would take 40 trucks to carry the grain that one barge normally could.
The flow of one of the most vital commodities, coal, is in jeopardy, and that could have severe consequences for Europe's biggest economy. "If there are problems transporting coal on the Rhine, we'll see shortages at coal-fired power plants in September, and they may not be able to generate electricity," says Guido Baldi, a researcher with the German Institute for Economic Research.
He predicts a coal shortage — in addition to ongoing global supply chain problems — will lead to Germany's economic output falling 0.5% in the third quarter. "This is particularly problematic now, as Germany attempts to wean itself off Russian gas and needs coal plants as a backup," Baldi says. "If the transport of coal is hindered, we'll see electricity shortages starting in September."
Baldi says drought, war and supply chain bottlenecks are sending Europe's biggest economy into a nosedive toward recession.
Schmid-Breton, of the International Commission for the Protection of the Rhine, says the environmental impact of this drought is equally bad. He says less water, that is heating up to warmer temperatures, is trouble for fish like Atlantic salmon, which were just reintroduced to the river. "Because of low water, they cannot reach their spawning sites," he says. "So they have to do emergency spawning. That means they will lose their eggs."
And with less water in the river, the concentration of pollutants rises, he adds, which will have an additional impact on every animal that lives along the river.
Schmid-Breton is encouraged by rain in the forecast this week, but he says the region will need two to three weeks of heavy, steady rain for the Rhine to return to normal — not likely, as this region heads into what is typically its driest season.
Esme Nicholson contributed to this report from Berlin.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-17/germanys-rhine-is-at-one-of-its-lowest-levels-thats-trouble-for-the-top-eu-economy | 2022-08-18T22:10:41Z |
MAYVILLE, N.Y. — A judge refused to grant bail Thursday to the man accused of trying to kill Salman Rushdie as the acclaimed author prepared to give a talk in western New York.
Hadi Matar, 24, appeared in a western New York courtroom after a grand jury indicted him on charges that he rushed the stage at the Chautauqua Institution and stabbed Rushdie multiple times in front of a horrified crowd.
Dressed in a black and white jail uniform, Matar stayed quiet during the hearing while his lawyer unsuccessfully tried to persuade the judge that he should be released while he awaited trial. Public defender Nathaniel Barone said Matar had no criminal record and wouldn't flee the country if released.
Barone also asked the judge to do something to stop reporters from trying to contact Matar at the Chautauqua County jail. The lawyer said the jail had received "several hundred phone calls" from people trying to reach Matar.
Some of that media outreach resulted in Matar giving a brief interview to The New York Post, in which he talked about disliking Rushdie and praised Iran's late supreme leader, Grand Ayatollah Ruhollah Khomeini.
Khomeini issued an edict in 1989 demanding Rushdie's death over his novel "The Satanic Verses," which some Muslims consider blasphemous. A semiofficial Iranian foundation had posted a bounty of over $3 million.
Matar's lawyer complained that the media coverage could potentially lead to a biased jury.
"He's entitled to a fair trial. He's entitled to due process, no matter what he's accused of," Barone said.
Judge David Foley declined that request, but he ordered the lawyers involved in the case not to give interviews.
"No speaking to the press until we have resolved this issue," the judge said.
Rushdie, 75, is getting treatment in a Pennsylvania hospital for severe wounds.
Chautauqua County District Attorney Jason Schmidt said during the court hearing that Matar stabbed Mr. Rushdie a dozen times in the neck, stomach, chest, hand and right eye, before he could be stopped by shocked bystanders.
"He doesn't care about his own freedom, judge, and is so driven by his motives that his mission to kill Mr. Rushdie is greater in his mind and outweighs his own personal freedom," Schmidt told the judge.
The author was seated in a chair at the lakeside retreat Aug. 12, waiting to be introduced for a discussion of protections for writers in exile and freedom of expression when Matar jumped onstage.
Henry Reese, 73, the cofounder of Pittsburgh's City of Asylum, was onstage with Rushdie and suffered a gash to his forehead, bruising and other minor injuries.
Matar, who lived in Fairview, New Jersey, with his mother, is charged with attempted murder and assault. He could get decades in prison if convicted. He has pleaded not guilty.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-18/a-judge-denies-bail-for-the-man-accused-of-trying-to-kill-salman-rushdie | 2022-08-18T22:10:47Z |
Press freedom in Hong Kong has tanked in recent years. Many journalists have left the field, but a few have set up tiny outlets to report on local issues and try to hold the authorities to account.
Copyright 2022 NPR
Press freedom in Hong Kong has tanked in recent years. Many journalists have left the field, but a few have set up tiny outlets to report on local issues and try to hold the authorities to account.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/a-small-handful-of-journalists-are-trying-to-keep-press-freedom-alive-in-hong-kong | 2022-08-18T22:10:53Z |
NPR's Mary Louise Kelly speaks with Ronald Jocelyn, the education director of the Hope for Haiti, about conditions on the ground in Haiti one year after a devastating earthquake hit the country.
Copyright 2022 NPR
NPR's Mary Louise Kelly speaks with Ronald Jocelyn, the education director of the Hope for Haiti, about conditions on the ground in Haiti one year after a devastating earthquake hit the country.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/a-year-after-an-earthquake-devastated-haiti-one-aid-official-says-there-is-hope | 2022-08-18T22:10:59Z |
NPR's Ailsa Chang speaks with former Afghanistan Minster of Education Rangina Hamidi after speaking to her a year ago, as Taliban forces captured city after city in the country.
Copyright 2022 NPR
NPR's Ailsa Chang speaks with former Afghanistan Minster of Education Rangina Hamidi after speaking to her a year ago, as Taliban forces captured city after city in the country.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/a-year-later-former-afghanistan-education-minister-reflects-on-her-country | 2022-08-18T22:11:06Z |
Cleveland Browns quarterback Deshaun Watson will sit out 11 games and pay a $5 million fine. Watson agreed to the increased punishment after dozens of sexual misconduct allegations.
Copyright 2022 NPR
Cleveland Browns quarterback Deshaun Watson will sit out 11 games and pay a $5 million fine. Watson agreed to the increased punishment after dozens of sexual misconduct allegations.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/deshaun-watson-to-sit-out-11-games-and-pay-5-million-in-sexual-misconduct-case | 2022-08-18T22:11:12Z |
The U.S. is facing a shortage of the monkeypox vaccine as the outbreak grows rapidly. The White House is pursuing a controversial strategy where each person only gets a fraction of the full dose.
Copyright 2022 NPR
The U.S. is facing a shortage of the monkeypox vaccine as the outbreak grows rapidly. The White House is pursuing a controversial strategy where each person only gets a fraction of the full dose.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/facing-a-monkeypox-vaccines-shortage-the-u-s-is-pursuing-a-new-dosing-strategy | 2022-08-18T22:11:18Z |
A federal appeals court has ruled that a pair of lawsuits that seek to hold oil companies accountable for the effects of climate change should be heard in state courts, striking down efforts by the fossil fuel industry to get the cases in front of federal judges.
While climate change "is an important problem with national and global implications," cases cannot be transferred to federal courts "just because they are important," the U.S. Circuit Court of Appeals in Philadelphia said August 17.
Lawyers representing the state of Delaware and the city of Hoboken, N.J., sued more than a dozen oil companies and an industry trade group in 2020 for allegedly misleading the public about the role that fossil fuels play in causing climate change. The Delaware and Hoboken lawsuits are among more than 20 similar cases filed across the United States in the last several years.
Fossil fuel companies have largely unsuccessfully pushed to have the lawsuits tried in federal court, rather than state courts, arguing that the issues under litigation are of national significance. The ruling issued on August 17 marked the fifth time that a federal appeals court has blocked the oil industry from moving such cases out of state courts, says Karen Sokol, a professor at the Loyola University New Orleans College of Law.
"The first cases were filed in the summer of 2017, and the [fossil fuel] industry has kept this fight up in jurisdictional battles now for five years," Sokol says. "It's saying in its public messaging that these cases are baseless, but it's doing everything it can to keep them out of discovery and trial in state court."
Delaware and Hoboken have accused oil companies and the American Petroleum Institute (API) of violating various state statutes, including laws against consumer fraud. Consumer protection cases, including lawsuits involving alleged corporate misinformation campaigns by tobacco companies, have historically been tried in state court.
"Oil companies ask us to hear two sweeping climate-change suits. But the plaintiffs filed those suits in state court based only on state tort law," Judge Stephanos Bibas wrote for the Court of Appeals in Philadelphia.
Delaware has said sea level rise caused by climate change will threaten more than $1 billion in property value, with flooding expected to hit areas with high poverty rates especially hard. Hoboken said it is seeking hundreds of millions of dollars to cover current and future costs associated with climate change adaptation, remediation and economic loss.
A spokesperson for Delaware Attorney General Kathy Jennings said her office agreed with the ruling from the appeals court.
Chevron spokesperson Bill Turenne said the cases belong in federal court "due to their sweeping implications for national energy policy, national security, foreign policy, and other uniquely federal interests.
"Climate change is a global phenomenon requiring a coordinated federal policy response, not a patchwork of state lawsuits," Turenne said in an emailed statement. "As the Court noted, [the] ruling was on a jurisdictional question; we look forward to prevailing on the overall merits of these cases."
Ryan Meyers, general counsel at API, called the lawsuits "an enormous waste of taxpayer resources." Climate change policy is ultimately "an issue for Congress to debate, not the court system," he added.
An Exxon Mobil spokesperson said the company is "reviewing the ruling and evaluating next steps." Other oil companies named in the lawsuits filed by Delaware and Hoboken either declined to comment or did not respond to messages seeking comment.
Climate advocates welcomed the appeals court decision. "The polluters that spent decades lying about their products' role in fueling the climate crisis are terrified of having to face consequences for their actions, and have tried desperately to avoid state court," Richard Wiles, president of the Center for Climate Integrity, said in a statement. "But once again, appeals courts have batted down Big Oil's attempts to escape accountability."
In addition to fighting lawsuits on jurisdictional grounds, the fossil fuel industry is pushing for states to pass laws that would block municipalities from suing companies for damages related to climate change, according to the Center for Climate Integrity, a watchdog group.
The U.S. Chamber of Commerce Institute for Legal Reform has advocated for such measures. "Armed with novel theories of liability and supported by throngs of private contingency fee counsel, municipal plaintiffs remain an ongoing and disruptive threat to business," the group said in a 2021 report.
Since 2019, municipal litigation preemption bills have been introduced in Arizona, Florida, Ohio and Kansas, and one has passed in Texas, according to the Center for Climate Integrity.
"These are multiple fronts to ensure that [cases] never get to the merits," says Sokol, adding that the fossil fuel industry is looking for "blanket immunity" from corporate accountability.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-18/federal-judges-deal-the-oil-industry-another-setback-in-climate-litigation | 2022-08-18T22:11:24Z |
Former chief financial officer of the Trump Organization Allen Weisselberg has plead guilty for his role in a tax fraud scheme that lasted 15 years.
Copyright 2022 NPR
Former chief financial officer of the Trump Organization Allen Weisselberg has plead guilty for his role in a tax fraud scheme that lasted 15 years.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/former-trump-executive-allen-weisselberg-pleads-guilty-for-role-in-tax-fraud-scheme | 2022-08-18T22:11:30Z |
A local journalist in small town New York and an aspiring writer in Eastern Ukraine discovered they had a lot more to learn from each other than either expected.
Copyright 2022 NPR
A local journalist in small town New York and an aspiring writer in Eastern Ukraine discovered they had a lot more to learn from each other than either expected.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/how-a-journalist-and-an-aspiring-writer-in-ukraine-grew-while-working-on-a-news-site | 2022-08-18T22:11:36Z |
Updated August 18, 2022 at 3:27 PM ET
A federal magistrate judge has given the Department of Justice one week to provide a redacted copy of the affidavit used to justify the unprecedented FBI search of former President Trump's Mar-a-Lago residence, saying that he believes the affidavit should be partially released.
U.S. Magistrate Judge Bruce Reinhart ruled the DOJ must turn over the redacted version by next Thursday at noon. The affidavit will remain sealed during any appeals, he said.
Reinhart also unsealed more minor documents containing general information at the hearing.
The Justice Department argued during a hearing on Thursday afternoon that redacting the affidavit would leave no information of substance to release, and noted that the search itself and release of the warrant last week had created a volatile situation leading to death threats against FBI agents.
Government lawyers also said the investigation is in an early stage.
While the Justice Department asked the court to unseal the warrant, citing intense public interest, it has argued strongly against releasing the affidavit, saying doing so could compromise its investigation, other probes, the possibility of future witness cooperation and the safety of agents and individuals named in the affidavit.
Multiple media organizations had asked the judge to unseal all documents related to the search, notably the affidavit laying out the reasoning and research. At Thursday's hearing, the organizations said they do not want to release any information that would have a chilling effect on current or future witnesses, endanger people involved in the probe or compromise the investigation.
The warrant, released last week, shows that FBI agents retrieved documents labeled classified, secret, top secret and confidential as well potential presidential records. It also reveals that the Justice Department is investigating Trump for violating the Espionage Act and obstructing justice.
The genesis of the investigation comes from an unlikely source: the National Archives. The agency, in charge of cataloging and storing important government documents, earlier retrieved 15 boxes of key presidential records that it said Trump was improperly — and possibly illegally — keeping at home.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-18/judge-creates-path-for-releasing-redacted-affidavit-from-mar-a-lago-search | 2022-08-18T22:11:42Z |
A new NPR/Ipsos poll shows that big numbers of Americans believe incorrectly that "most" of the fentanyl entering the U.S. is smuggled by migrants. It's not the only misleading claim getting traction.
Copyright 2022 NPR
A new NPR/Ipsos poll shows that big numbers of Americans believe incorrectly that "most" of the fentanyl entering the U.S. is smuggled by migrants. It's not the only misleading claim getting traction.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/many-americans-falsely-think-migrants-are-bringing-most-of-the-fentanyl-entering-u-s | 2022-08-18T22:11:48Z |
Feeling vindicated by recent evidence of an Iranian plot to kill former U.S. national security adviser John Bolton, opponents to reviving the nuclear deal with Iran are pressing their case.
Copyright 2022 NPR
Feeling vindicated by recent evidence of an Iranian plot to kill former U.S. national security adviser John Bolton, opponents to reviving the nuclear deal with Iran are pressing their case.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/some-see-irans-assassination-plots-as-yet-another-reason-not-to-revive-nuclear-deal | 2022-08-18T22:11:55Z |
It's been one year since a flood tore through Waverly, Tenn., and killed 20 people. There's been lots of effort to rebuild but it's still unclear if the town will ever be the same.
Copyright 2022 NPR
It's been one year since a flood tore through Waverly, Tenn., and killed 20 people. There's been lots of effort to rebuild but it's still unclear if the town will ever be the same.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/some-survivors-remain-traumatized-a-year-after-a-flood-killed-20-in-waverly-tenn | 2022-08-18T22:12:01Z |
Students in Jackson, Miss., are already back at their school desks. The district — like so many in the nation — is working to help students recover academically and emotionally from the pandemic.
Copyright 2022 NPR
Students in Jackson, Miss., are already back at their school desks. The district — like so many in the nation — is working to help students recover academically and emotionally from the pandemic.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/the-3rd-school-year-since-covid-hit-has-begun-heres-how-students-and-staff-feel | 2022-08-18T22:12:07Z |
Students at the Keller Independent School District outside Fort Worth, Texas, went back to school Wednesday. But instead of the focus being on their return, much of the attention has been heaped on an email that was sent out the day before, instructing school staff to pull all copies of a list of more than 40 books from classrooms and school libraries.
The books that were pulled include the graphic novel adaptation of Anne Frank's diary, all versions of the Bible and numerous books with LGBTQ+ themes or characters. The School Board did not say why the Bible and the Anne Frank book were removed, but parents had objected to them, according to the list.
The books on the list have been challenged at the district in the past and while some have been reviewed and put back on shelves, they must all undergo another review under new criteria set by the school board, the school district said in a statement to NPR.
"Right now, Keller ISD's administration is asking our campus staff and librarians to review books that were challenged last year to determine if they meet the requirements of the new policy," it said.
"All of the books included in Tuesday's email have been included on Keller ISD's Book Challenge list over the past year. Books that meet the new guidelines will be returned to the libraries as soon as it is confirmed they comply with the new policy."
Some of the school board's new members were backed by Patriot Mobile Action, a conservative Christian political action committee, the PAC said in a news release.
How the new policy will work is not completely clear to parents, they told NPR. The Texas Tribune reports that the new Keller ISD policies are based on a model from the Texas Education Agency, and that, ultimately, school board members have the ability to accept or reject any material.
Some parents worry about banning books for everyone
Laney Hawes is a parent to four children in the district ranging from first to ninth grade. She said she understands and agrees with parents who don't want their children to read material that is inappropriate for their age. But she doesn't think this is the right way to go about it.
"All of our children are capable and able and ready for different materials," Hawes said. "Not everyone is ready for the same. I agree with that, and I think that those decisions should be made by parents for their own children specifically. I don't think that certain materials that you don't feel like are appropriate for your children should be withheld from my children, too."
Hawes is one of a group of parents who have become more involved with the district in recent years. Hawes and another parent, Gretchen Veling, both volunteered to be part of the group that reviewed books when they were challenged.
Some of the books were already reviewed and put back on shelves under the old policy
Hawes was involved in the review of Anne Frank's Diary: The Graphic Adaptation, while Veling was in the group that reviewed Flamer, the semi-autobiographical graphic novel by Mike Curato.
Both books were discussed within the last year by parents, librarians and teachers who all chose to keep the books on the shelves. But with the books under review again, there are no guarantees they will made available to students.
Veling said she first got involved in the book review committee when she realized that many of the titles being challenged were LGBTQ+ books. She said both her sons are openly gay and when they want to read a book, she typically buys it for them. But her concern is for kids who might not have that same support at home.
"If they don't have access to a book that is reflective of who they are, does it just continue to make them feel like they're in a homophobic area? So I started speaking up because of that," Veling said. "It's to all the other kids that won't have access to it, who really do need access to it."
Keller ISD did not say if there was a timeline for when the book reviews would be completed. But in the meantime, Hawes said she thinks the school board will continue implementing conservative Christian policies.
"They really, really want to attack our curriculum and make sure that no social emotional learning ever enters our curriculum," Hawes said, adding that there are two other spots on the school board that will be up for election next May.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-18/the-bible-is-among-dozens-of-books-banned-in-this-texas-school-district | 2022-08-18T22:12:13Z |
Environmental damage is a threat to the global economy but it's hardly counted in economic figures like the GDP. The Biden administration is unveiling an effort to give a more holistic accounting.
Copyright 2022 NPR
Environmental damage is a threat to the global economy but it's hardly counted in economic figures like the GDP. The Biden administration is unveiling an effort to give a more holistic accounting.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/the-biden-administration-aims-to-make-nature-a-measurable-part-of-the-u-s-economy | 2022-08-18T22:12:19Z |
A judge today told the Justice Department it must provide a redacted version of the affidavit behind the search of Trump's Mar-A-Lago residence by next Thursday, Aug. 25.
Copyright 2022 NPR
A judge today told the Justice Department it must provide a redacted version of the affidavit behind the search of Trump's Mar-A-Lago residence by next Thursday, Aug. 25.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-18/the-government-must-provide-a-redacted-affidavit-justifying-the-mar-a-lago-search | 2022-08-18T22:12:25Z |
The Wyoming State Fair (WSF) in Douglas is a state institution that dates back to the early 20th century. Over the years, it’s added new attractions and events as more fairgoers have taken in one of the premier agricultural and entertainment expositions in the state.
And while there are some new elements this year, the combination with traditional elements is what draws many attendees.
The fair kicked off on Aug. 16 and will run through Saturday, Aug. 20. Some of the new additions include new entertainment acts as well as food vendors.
“There’s so much new fun stuff that we’re excited to bring the state of Wyoming this year, including the Pirate’s Parrot Bird Show, which has live parrots, the Nerveless Knocks stunt show with motorcycle stunts, where they actually take a motorcycle and they go all the way around the globe, and then we also have strolling entertainers like Skip Banks, the Balloon Man,” said Courtny Conkle, General Manager of the WSF. “His show is one of a kind, so there’s a lot of stuff you have to see.”
The Miss Rodeo Wyoming competition is set to crown their 2023 winner on Thursday evening. Country singer Morgan Evans will perform on Friday evening, with a demolition derby taking place on Saturday evening to cap off this year’s events.
Traditional fair events, such as youth livestock showing, continue to play an integral role in the fair.
“The youth are the heart and soul of the state fair and so we have livestock shows every day celebrating our 4-H and FFA members and all the hard work they’ve put in all year to be able to come to the premier summer event and end their summer on a really high note by hopefully taking home a buckle from the state fair,” Conkle said. | https://www.wyomingpublicmedia.org/arts-culture/2022-08-18/wyoming-state-fair-hopes-to-keep-tradition-while-adding-new-attractions | 2022-08-18T22:12:32Z |
Latino Outdoors is a national organization that wants to create space in conservation and outdoor recreation specifically for the Latinx community. They are looking to start a chapter in Wyoming.
Cassie Castillo, the Laramie ambassador, said the people she works with feel left out of the hiking and camping world. She’s working with the Wyoming Latina Youth Conference at the University of Wyoming in October to build more visibility for the organization.
“Our stories have long been, I wouldn't say ignored, but they haven't been highlighted. And so this is our way of taking some of that back and making sure that we have that space so that our stories are reflected in this outdoor culture,” she said.
Castillo said the idea behind starting a chapter is to build a community of Latinx people in Wyoming. She said often she’s the only person of color in these outdoor spaces.
“That need[s] to redefine what it means to be outdoorsy. We're coming together so that we can create more space for Latinx identities to engage and partake and be welcomed in the outdoors in the different capacities that are part of our culture, are part of our legacy, inheritance,” she said.
Last weekend, Castillo led a Latinx camping trip in the Sinks Canyon near Lander. The group learned about first aid and how to act around local wildlife like snakes. The event was sponsored by Wyoming Parks and Recreation. Attendees come from as far as Denver. | https://www.wyomingpublicmedia.org/natural-resources-energy/2022-08-18/latinx-outdoor-organization-looks-at-establishing-a-wyoming-chapter | 2022-08-18T22:12:38Z |
Costa Rican officials say more than 800 people claiming to be from Africa have come to their country in just the last two months. Most are believed to be from the two neighboring Congo states in central Africa. But in a visit this week, NPR also found Eritreans, Angolans and Nigerians.
Authorities also suspect that some are from Haiti.
Central America has long been the route north for people fleeing violence or poverty in Latin America. Now it's also a route from Africa.
"We say Africa is here now in Costa Rica," says the Rev. Alberto Barrios Gutierrez, a priest who, along with his parishioners, volunteers to help feed the desperate new arrivals. By the time migrants reach the volunteers, they have usually walked at least a week through dangerous jungle.
Some say the African migrants are appearing in greater numbers because it's become more difficult to reach Europe, a more traditional destination. Others say there has always been a small number of Africans traveling this route, but Nicaragua has tightened its borders, creating a roadblock.
The Africans making the journey describe a harrowing trip. Some don't survive. Many pay smugglers in Africa to get them aboard cargo ships bound for South America. Some arrive in South American countries on the Atlantic Ocean and languish there in joblessness until they look for a better future north.
They may be fleeing violence, like Boko Haram militants in Nigeria, or civil strife in Congo or poverty in Angola.
"I had a business that was completely burned down and destroyed," says Ezimwa Chimezie, a Nigerian at a tent camp set up by the Costa Rican Red Cross.
He had a shoe factory that was set on fire by men who he says also stabbed him. Chimezie says it happened because he was advocating for human rights in Nigeria. NPR couldn't independently confirm his account or the accounts given by others.
Chimezie said he flew to Ecuador and paid smugglers to secure his bus and boat travel to Colombia.
Like most of the other migrants, Chimezie eventually came to the end of the road — literally. It's called the Darien Gap, an expanse of jungle with no roads between Colombia and Panama. It's nearly 100 miles long.
"It's hell. It's hell," Chimezie says. "I ain't got no words to describe the experience."
Barely aware of the geography of Central America, Chimezie had been told to expect a three-hour jungle walk. It took days.
"It's like walking five solid days on an empty stomach," he says.
Others say it took them nine days to get through the jungle. They describe eating grass to survive, being devoured by bugs and seeing bodies left behind under the thick brush.
Chimezie made the trip a couple weeks ago. His feet and legs are still swollen, pus seeping from a toe.
Alfredo Delvas, from Congo, says he also made the jungle journey. He shows us his temporary home in the Costa Rican Red Cross camp, pulling back the black plastic tarp on his tent.
He's with about 15 people, sharing a couple of blankets and a few wooden pallets on the ground.
Resources from the Costa Rican and Panamanian governments are scarce. Costa Rican officials say they can't keep housing the Africans. Nicaragua refuses passage northward. And Panama, to the south, won't give them permission to stay.
"If this migration continues, it will be a very dangerous situation not only for Costa Rica but also for the region," says Costa Rican Communications Minister Mauricio Herrera. His country asks for international aid, but he says it has not received any for the three shelters it runs. It plans to add a fourth next month.
Meanwhile, the church led by Barrios tries to lend a hand. Volunteers dole out mounds of rice, chicken, beans and plantains for the migrants at this camp twice a day.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2016-06-22/via-cargo-ships-and-jungle-treks-africans-dream-of-reaching-the-u-s | 2022-08-18T22:18:02Z |
LINDA WERTHEIMER, HOST:
A band played and onlookers waved flags as a massive Chinese container ship started its journey through the expanded Panama Canal, which reopened today. While the country celebrates this modern engineering feat and its projected profits, there are many in Panama who feel they've been left out of the canal's windfalls. NPR's Carrie Kahn traveled to the city of Colon on the Atlantic entrance to the passage.
CARRIE KAHN, BYLINE: A group of men stand in the shaded narrow alleyway between two buildings in the Patio Limoso neighborhood. The buildings, like all in the core of the city, are weathered, filled with weeds and crumbling. Sewer water flows openly to the street amid trash and graffiti.
ALEJANDRO DEL CID: (Speaking Spanish).
KAHN: "We have this canal that brings so much to our country, but here, we only have problems," says 37-year-old Alejandro Del Cid. "No water, bad electricity and no jobs," he says. As Panama sets to inaugurate it's more than $5 billion expanded canal today, many here in Colon are asking what they will get out of it. Del Cid's mother, 53-year-old Leticia Henry, says leaders have long promised to fix the city, but nothing changes. It only gets worse.
LETICIA HENRY: (Speaking Spanish).
KAHN: "They promise, promise and promise but don't ever come through," says Henry. She says her son just got released from prison after serving nine years for armed robbery but has only been able to work one job that lasted three weeks painting a nearby park.
HENRY: (Speaking Spanish).
KAHN: "There are plenty of people here without jobs," she says. Colon was once called the golden teacup of the Caribbean, renowned for its grand Central Avenue, bustling theatres and packed clubs. But the post-World War II boom saw Colon's fortunes dwindle as the capital blossomed. While skyscrapers went up along Panama City's ocean front, Colon's buildings crumbled and the middle class fled.
Even the free trade zone here, the largest in the Western Hemisphere, hasn't offset those losses. Colon's mayor, Federico Policani, just 33 years old, says the city has been on the losing end of the country's steady economic growth for more than four decades.
FREDERICO POLICANI: It's the second city of importance in the country, but it's the last city that the government make the investment.
KAHN: These days, though, construction seems to be taking place all over Colon.
POLICANI: Many people hate me because now the city is a mess.
KAHN: The streets are torn up to make way for new storm drainage and sewer pipes, says Policani. Nearly 200 buildings are slated for demolition. The government is investing $500 million on this facelift, which includes the relocation of up to 25,000 residents to new housing built two miles outside of town.
CESAR QUIJANO: (Speaking Spanish).
KAHN: "This will all help," says Panama University history professor Cesar Quijano, but it won't solve Colon's deep-rooted economic problems, including persistent racism against the city's predominantly black population.
UNIDENTIFIED WOMAN: (Speaking Spanish).
KAHN: On Colon's Central Avenue, local news booms from a weathered radio. Dalila Ariano, a retired schoolteacher, says she hopes her city reaps some benefits from the new expanded canal, which is projected to double the current passageway's paid cargo.
DALILA ARIANO: (Speaking Spanish).
KAHN: "We hope it brings Colon back to what I remember," she says, "when everything was clean, in order and it was that little bit of gold on the Caribbean." Carrie Kahn, NPR News, Colon, Panama.
[POST-BROADCAST CORRECTION: We incorrectly say the Panama Canal reopened on Sunday. In fact, the canal never closed. A previous headline and Web introduction also made the same incorrect statement.] Transcript provided by NPR, Copyright NPR. | https://www.keranews.org/2016-06-26/as-panama-canal-expands-many-in-the-country-feel-left-out-of-its-windfalls | 2022-08-18T22:18:03Z |
It's her moral duty.
That's the belief of Debora Matamoros Jiménez, who leads a volunteer cooking crew that, for two months, has fed the hundreds of African migrants stranded in Costa Rica and sheltered in makeshift tents in the town of Paso Canoas, where she lives.
Every week she and a half-dozen helpers from the local church back up a big truck loaded with pots of warm freshly cooked food: rice, beans, plantains, chicken.
"The Costa Rican government provides the food and it gives us lots of joy and happiness to cook it for them," says Jimenez, a housewife and devout parishioner of the Catholic Church.
It's an unlikely destination for migrants from Africa, who say they're from the two Congo states in Central Africa as well as Angola, Eritrea and Nigeria. Like other African migrants, they're escaping violence or poverty. Many of them come by cargo ship, paying smugglers to get them on.
Some 800 have wound up in Costa Rica, unable to move further north because of the tightened borders of neighboring Nicaragua.
At the camp, heavy rains bring stagnant water and the air is rancid. But when the food comes, the fragrant aroma takes over as camp dwellers meander over and form two lines — one for women, the other for men. Kids walk straight up to the front of the line and are served first, followed by the women.
"What draws my attention the most is the pregnant women and the kids," says Jiménez. "We just can't ignore this."
In recent weeks, the numbers have gone down at the Paso Canoas camp. Many of the migrants have been moved to other camps in Costa Rica. In Paso Canoa, about 100 remain.
"We were told earlier in the week that we didn't have to cook anymore because they had all left," Jiménez says. "But late last night I got a call asking if we could cook because there were at least 100 people still in the camp."
Costa Rican officials, the Red Cross and other communities in Paso Canoas have stepped in to provide humanitarian aid, medical attention and food. Jiménez has also gotten clothing donations, disposable plates and utensils.
But keeping up with the donations and food provisions are becoming a burden for the residents of Paso Canoas — and for Costa Rica. Mauricio Herrara, the minister of communication, says his country is preparing for a long-term crisis, but the reality is they are not able to sustain this level of support without other countries stepping in to help.
"But anyway, they are human beings and they deserve all the respect and protection with dignity," says Herrara.
In this food line at the Paso Canoas camp, everyone has gotten their fill and some have returned for a second and even a third plate. They are selective: Some ask for just beans and no rice or just chicken with a couple of juices to drink.
"We love it when they come back for more." Jiménez says, with a big smile.
"And if they're choosy about what they want, that's fine too. After all they've been through it is OK if they want to be a little picky."
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2016-06-26/cooking-chicken-and-plantains-for-african-migrants-in-costa-rica | 2022-08-18T22:18:05Z |
$2B Carbon-Capture Ammonia Complex Planned for Ascension Parish
BATON ROUGE – From Louisiana Economic Development:
CF Industries Holdings announced it is evaluating a site in Ascension Parish for construction of a proposed $2 billion blue ammonia production facility that would create 103 direct new jobs in the Capital Region with an estimated average annual salary of $110,582 plus benefits. LED estimates the project would result in 311 indirect jobs, for a total of 414 new jobs in the Capital Region.
The proposed export-oriented facility would be developed jointly by CF Industries and Mitsui & Co., Ltd. By employing carbon capture and sequestration, the ammonia production process would result in significantly lower carbon emissions than conventional ammonia processes, qualifying it as a “blue” process. Blue ammonia is seen as a key clean energy source since its components – nitrogen and hydrogen – do not emit carbon when combusted.
“This massive proposed investment from CF Industries would create good-paying jobs and strengthen Louisiana’s position as a leader in the clean energy transition,” Gov. John Bel Edwards said. “This would be another big step toward our goal of making Louisiana carbon-neutral by 2050. We thank CF Industries for its continued commitment to Louisiana, and look forward to working with company, parish and regional economic development leaders to move the project forward.”
CF Industries and Mitsui expect to begin a front-end engineering design (FEED) study once the site and technology provider for the new plant are finalized. A FEED study typically takes 9-12 months from the start date to complete. A final investment decision by the companies is expected to occur in 2023. Construction and commissioning of a new world-scale capacity ammonia plant typically takes approximately four years from that point.
“CF Industries and Mitsui believe that blue ammonia will play a pivotal role in accelerating the world’s transition to clean energy and that our proposed blue ammonia production facility is an important step towards this future,” said Tony Will, CF Industries president and CEO. “CF Industries has long appreciated the partnership we have had with the State of Louisiana and Ascension Parish, both as we have expanded our operations over the years and now as we decarbonize our production processes and consider new capacity growth. We look forward to working with them further as we continue to evaluate our proposed blue ammonia production facility.”
CF Industries is the world’s largest producer of ammonia, with a global manufacturing and distribution network. The Ascension Parish project under consideration is part of the company’s commitment to produce ammonia for clean energy applications while decarbonizing its ammonia production process. Earlier this month, it announced a $198.5 million plan to add carbon capture and sequestration capability to its existing ammonia production facility in Donaldsonville.
“CF Industries has been a tremendous community partner for over 50 years and we look forward to working with them on this project,” said Clint Cointment, Ascension Parish president. “This facility will help meet the world’s needs for sustainable solutions on climate change while creating 103 new local jobs with over $10 million in permanent payroll and significant local economic activity during construction.”
To secure the project, the State of Louisiana is offering CF Industries a competitive incentive package that includes the services of LED FastStart, which was recently ranked the No. 1 statewide workforce development program in the nation for the 13th consecutive year. Additionally, the company would be eligible for a performance-based award of up to $6 million to be paid out over four years to reimburse verified project development and infrastructure expenditures. The company is also expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
“Together with our partners, Ascension Economic Development Corporation is ready to assist CF Industries and Mitsui & Co. with this world-class energy transition project,” AEDC President and CEO Kate MacArthur said. “Our area continues to grow in the clean hydrogen/ammonia and carbon sequestration field and this project would be a remarkable addition.”
“With CF Industries’ incredible proposed project, Louisiana’s Capital Region shows it is ready to be a global leader in transitional energy,” said Adam Knapp, president and CEO of the Baton Rouge Area Chamber. “We have seen over $16 billion in clean energy investments announced since 2020 in our region. We extend our appreciation to CF Industries’ leadership team for their continued commitment to Donaldsonville and Ascension Parish, and to parish officials and partners for their work to make this happen for Louisiana.” | https://www.bizneworleans.com/2b-carbon-capture-ammonia-complex-planned-for-ascension-parish/ | 2022-08-18T22:26:04Z |
Day 1&2
Depart US - Overnight Flight to Europe - Arrive Lyon - Board Ship
Arrive Lyon & meet your PWD Tour Manager - Transfer to the MS Amadeus Provence for 7 night cruise - Welcome Dinner Onboard - Ship departs north late evening
(D) Overnight - Amadeus Provence
Day 3 Mâcon
Morning Mâcon Walking Tour
Afternoon Wine Region with Tasting Experience Optional
(B,D) Overnight - Amadeus Provence
Day 4 Chalon sur Saone - Beaune - Tournus
Morning Beaune, Hotel-Dieu & Burgundy Wine Tasting Experience
Afternoon Medieval Brancion & Cormatin Optional - Ship arrives in Tournus
(B,L,S & D) Overnight - Amadeus Provence
Day 5 Lyon
Morning Lyon City Tour with Old Town
Afternoon Cruising - Ship departs Lyon & heads south towards Avignon
(B,L,S & D) Overnight - Amadeus Provence
Day 6 Avignon
Morning Avignon Walking Tour including Palace of the Popes
Afternoon at leisure in Avignon or Pont du Gard & Uzes Optional
(B,L,S & D) Overnight - Amadeus Provence
Day 7 Arles
Morning Arles Walking City Tour with Roman Amphitheatre
Afternoon at leisure in Arles or Camargue Nature Park Optional
(B,L,S & D) Overnight - Amadeus Provence
Day 8 Leisure Day with Châteauneuf-du-Rhône/Ardeche - Le Pouzin
Relax Onboard/Leisure Day - Morning Optional Excursion to Ardèche Gorge
Midday ship stops in Le Pouzin - Afternoon Cruising - Gala Farewell Dinner
(B,L,S & D) Overnight - Amadeus Provence
Day 9 Lyon - Flight Home
Transfer to the Lyon Airport to fly home or join Paris Post Cruise Extension
(B)
B-Breakfast Hotel/Onboard • S-Snacks Onboard afternoon and/or evening
L-Lunch Onboard • D-Dinner Onboard with Beer & Regional Wines
Optional 2-Night Paris Post Cruise Extension
$795 pp dbl +$400 single supplement
Day 9/Nov 2 Disembark Lyon - Dijon - Paris
Disembark & travel north via motorcoach enroute to Paris. Stop in Dijon for a tour and continue on to Paris, “The City of Light”, for a 2 Night Stay
(B - on ship) Overnight - Paris
Day 10/Nov 3 Paris
Morning Paris City Tour & Seine Cruise - see Notre Dame Cathedral, Arc de Triomphe, Champs Elysees & the Eiffel Tower then a Seine River Cruise - Afternoon at Leisure (B) Overnight - Paris
Day 11/Nov 4 Transfer to Paris Airport (CDG) - Flight Home
(B)
Optional Paris POST Cruise Extension Includes: 2 Nights Hotel - Paris, Paris City Tour, Seine River Cruise, PWD Tour Manager, 2-Breakfasts & Transfer from Lyon to Paris with Dijon Tour, Transfers to Paris Airport (CDG). Due to group air policies outbound air on 10/25 could be a different schedule than the rest of the your group for Paris extensions passengers. • Paris extension is based on 20 passenger minimum. | https://www.wyomingnews.com/community/travel/burgundy-provence-france-river-cruise/article_199035c6-1f38-11ed-894f-076835281ab0.html | 2022-08-18T22:26:04Z |
Bollinger Shipyards to Build Unmanned Mine Sweeper for Navy
LOCKPORT, La. — The U.S. Navy has awarded Bollinger Shipyards a contract to engineer and build an unmanned surface vessel capable of mine sweeping and mine hunting missions. The initial contract is for three vessels with options for up to 27 more. Bollinger is a privately held designer and builder of military and commercial vessels.
“Bollinger is honored to be entrusted by the U.S. Navy to engineer and build the Mine Countermeasures Unmanned Surface Vehicle program,” said Ben Bordelon, Bollinger president and CEO, in a press release. “Bollinger’s skilled workforce is second to none and will work to build and deliver this advanced capability to our nation’s fleet using the highest levels of craftsmanship and quality that we have come to be known for. We are proud to partner with Huntington Ingalls Industries Unmanned Systems and Raytheon Technologies to build a state-of-the-art, multi-mission unmanned surface vehicle capable of both hunting and sweeping naval mines to support and protect the men and women of the U.S. Navy and our allies around the world.”
Bollinger said that naval mines present a significant threat to U.S. naval operations and to U.S. and allied shipping in coastal waters, continental shelf waters, port approaches and straits. The MCM USV program is designed to replace capabilities currently being undertaken by the soon-to-be retired MCM-1 class Mine Countermeasures Ships and MH-53E helicopters.
Huntington Ingalls Industries Unmanned Systems has over 20 years of experience developing and delivering intelligent, autonomous behaviors in undersea, surface and land environments. Raytheon Technologies brings decades of shipboard integration expertise and experience to the MCM USV program as the current Mission Systems Integrator and Cybersecurity provider.
“HII is excited to partner with Bollinger on this critical defense program,” said Duane Fotheringham, president of the Unmanned Systems business group at HII’s Mission Technologies division. “Our Odyssey suite of advanced autonomy solutions ties together vessel control, payload management, and navigation with advanced AI/ML algorithms to support complex and dangerous missions such as mine countermeasures, reducing risk to the warfighter with unmanned technology.”
“With our long history in mine warfare and over a decade of LCS integration experience, Raytheon is ready to support Bollinger Shipyards current and future programs aboard the MCM USV and into LCS ships,” said Kim Ernzen, president of Naval Power at Raytheon Missiles & Defense. | https://www.bizneworleans.com/bollinger-shipyards-to-build-unmanned-mine-sweeper-for-navy/ | 2022-08-18T22:26:10Z |
Boomerang page plan, Aug. 19 Aug 18, 2022 Aug 18, 2022 Updated 1 hr ago Comments Facebook Twitter WhatsApp SMS Email Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save BOOMERANG page plan for FRIDAY, Aug. 19 A1 (send color)Tease 1TODAY’S PICK Despite loss, Cheney’s focus on Trump remains, Page A3Tease 2:Sports tease from JoshTease 3:CROSSING OCEANS Couple flees Ukraine, celebrates birth of baby in Rock Springs, Page A5MAIN ART: standalone scenicTOP STORY: Primary winners look ahead to general election, WTE (photo, bug)City takes inventory of flood impacts, Kota (photos)Area near LHS eyed for new bike park, Kota (photos)Jumps to A3A2 (send color)Today/tomorrow from AP – NO LOCAL STUFF FOR THAT TODAYWhat’s happening?WeatherCorrection policy A3 (send color)Today’s pick: Despite loss, Cheney’s focus on Trump remains, WNE (photo, bug)Jumps from A1Crime briefs (if you need to fill a little)A4 OPINION (send B&W)Syndicated cartoonGoodman/Moynihan (Other voices)Lowry (Other voices)New letters policyA5 (send color)Obits (if there are any)Crossing oceans: Couple flees Ukraine, celebrates birth of baby in Rock Springs, RMN (photo)Around Wyoming to fillVol. 142 No. 168 A6 – FULL-PAGE ADB1-B2 SPORTS (send B1 color, B2 B&W)B3-B4 COMICS/PUZZLES (send B&W)B6-B8 CLASSIFIEDS (send color) Facebook Twitter WhatsApp SMS Email Print Copy article link Save Tags Ukraine Color Couple Photo Photography Transports Military Linguistics Plan Birth Page Recommended for you Please enable JavaScript to view the comments powered by Disqus. comments powered by Disqus Trending Now Hageman beats Cheney, will face Grey Bull in November Poll: Hageman up big ahead of Wyoming's GOP primary next week Rally at Cheyenne FBI office planned for Sunday Nearly all incumbents advance in state, county and city races Polls open 7 a.m. to 7 p.m. for today's primary election Latest Special Section Cheyenne Frontier Days To view our latest Special Section click the image on the left. Latest e-Edition Wyoming Tribune Eagle To view our latest e-Edition click the image on the left. | https://www.wyomingnews.com/townnews/photography/boomerang-page-plan-aug-19/article_8e6262c8-1f30-11ed-a9f4-eb68e9242e8b.html | 2022-08-18T22:26:10Z |
Brad Pitt Foundation Reaches Settlement Over Louisiana Homes
BATON ROUGE (AP) — Brad Pitt’s Make It Right Foundation and homeowners of the houses built by the program in an area of New Orleans among the hardest hit by Hurricane Katrina, have reached a $20.5 million settlement.
The Times-Picayune/The New Orleans Advocate reported Wednesday that, pending approval by a judge, each of the program’s 107 homeowners will be eligible to receive $25,000 as reimbursement for previous repairs of the shoddy homes. Under the settlement reached Tuesday evening, the remaining money is to be divided up according to the condition of each of the structures.
The settlement represents a major milestone in the long-running saga of homes beleaguered by leaks, rot and other defects.
In 2007, two years after Katrina devastated Louisiana’s most populous city, the Hollywood celebrity founded the futuristic housing development organization. The goal was to replace lost housing in the city’s flood-ruined Lower Ninth Ward with 150 avant-garde dwellings that were storm-safe and energy-efficient. The homes were made available at an average price of $150,000 to residents who received resettlement financing, government grants and donations from the foundation itself.
The project was praised initially, but 10 years and more than $26 million later, construction had halted. Residents reported sagging porches, mildewing wood and leaky roofs.
Make It Right acknowledged flaws in the architecture at least twice. First, in 2015, lawyers representing the organization sued the manufacturer of an ecologically friendly, water-resistant wood for $500,000, when the product proved to be no match for south Louisiana weather.
In 2018, Make It Right lawyers sued its own managing architect over what it said where millions of dollars in design defects. In 2021, the organization also sued its former executive director along with the former treasurer and other officials, accusing them of mismanaging the project.
As residents’ complaints mounted, they filed a class-action lawsuit against Make It Right in 2018. The suit alleged that many of the houses were poorly built with inadequate materials. According to the suit, some of the homes suffered from rain leakage that caused rot, structural damage and mold. The suit also catalogued faulty heating, problems with cooling and ventilation systems, electrical malfunctions and plumbing mishaps.
Tuesday’s settlement papers point out that responsibility for the defects to the homes has been “vigorously” contested. Attorney Ron Austin, who represented residents in the suit against Pitt and his charitable organization, framed the outcome in David versus Goliath terms.
“This is one of those scenarios when the impossible became possible,” Austin said.
The distribution of settlement funds to individual houses will be overseen by Global Green, a California-based nonprofit organization devoted to ecological concerns. The Times-Picayune ‘ The New Orleans Advocate reached out to Global Green for comment. | https://www.bizneworleans.com/brad-pitt-foundation-reaches-settlement-over-louisiana-homes/ | 2022-08-18T22:26:16Z |
First Meeting of Addiction Support Group for Hospitality Industry
NEW ORLEANS – Ben’s Friends, a national support group for people in the hospitality industry struggling with addiction, has announced its expansion into New Orleans. The first meeting will take place from 11 a.m. to noon on Monday, Aug. 22 at NOCHI Dining Lab (725 Howard Avenue). Meetings are scheduled at the same time, day and place in the coming weeks. The chapter will be led by Liam Doran and Alex Harrel, both longtime members of the New Orleans food and beverage industry who have found sobriety in recent years.
Ben’s Friends was founded in 2016 by Charleston, S.C.-based restaurateurs Steve Palmer and Mickey Bakst in honor of Ben Murray, a chef and colleague who took his own life after struggling with alcoholism. The organization exists to offer hope, fellowship and a path forward for those struggling with substance abuse and addiction in an industry that has one of the highest rates of substance abuse in the country.
Ben’s Friends has chapters in 20 cities across the country and, after taking its meetings virtual during the COVID-19 pandemic, has begun to host in-person meetings in all locations. National Zoom meetings are still hosted daily, as well as weekly women- and men-only meetings.
For more information on the organization and meeting details visit www.bensfriendshope.com. | https://www.bizneworleans.com/first-meeting-of-addiction-support-group-for-hospitality-industry/ | 2022-08-18T22:26:22Z |
Four Seasons and New Orleans: An Unlikely (and Tasty) Combination
As an established global brand, Four Seasons conjures up images of high-end luxury and pampering – not necessarily the first thoughts that come to mind when one mentions New Orleans. Yet the intersection of the two is now entering its second year, and the unlikely pairing is doing quite well so far.
This is particularly true of the two restaurants in the still-new Four Seasons New Orleans, and the fact that they are the products of local chefs is a key factor in the success. Chemin a la Mer is a Donald Link creation, offering panoramic views of the Mississippi River as a backdrop for its Louisiana-based, Gulf Coast and French influenced cuisine.
Miss River is the newest Alon Shaya endeavor, serving classic New Orleans dishes with some extra flair. And while both are unmistakably Four Seasons operations, they also both exist comfortably within the larger New Orleans restaurant pantheon.
“As a brand, Four Seasons always works to partner with local communities everywhere they go,” said Nicholas Owen, Director of Food and Beverage for Four Seasons New Orleans.
One important aspect of this for the restaurants is using local suppliers as much as possible. The chefs themselves draw on longstanding local connections to stock their kitchens, and Link even uses bacon from another of his enterprises, Cochon, in dishes at Chemin a la Mer.
Needless to say, no small number of local chefs were interested in the possibility of a Four Seasons location. Owen explained that key to choosing partners was “making sure they shared the Four Seasons values, everything from quality of service to how they treat their employees.”
This last point is something that Owen believes is an important benefit that his company brings to New Orleans.
“We hire the best possible staff to begin with, them take them to a higher level through our training,” he noted. “They also get the opportunity to travel the world within Four Seasons, then bring that experience back to New Orleans.”
For example, as the area recovered from Hurricane Ida last year, local restaurant staff were kept employed by augmenting operations in other places; this also happens during slow times of year here. Some of these current bartenders and sous chefs will likely comprise the next generation of food and beverage proprietors.
Another way that Owen believes Four Seasons brings extra value to New Orleans is via the worldwide clientele it attracts.
“New Orleans is known as a food and beverage city, and people come here to eat and drink and have fun,” he observed, adding that many of the hotel’s guests are first-time visitors to the city who are drawn by the brand. “Four Seasons brings them to someplace new for them. They may not have considered New Orleans as a travel destination in the past. They come here for leisure, but while they are here, they learn more about the city, and they see business and conference opportunities.”
Similarly, many guests experience the famed area cuisine at the hotel’s restaurants first, then inquire about other local restaurants where they can have comparable experiences.
Owen added that domestic travel remains elevated as the pandemic lingers on, which creates even more opportunity for Four Seasons to attract people to New Orleans. In addition, the hotel is hosting a significant number of New Orleans and Louisiana residents who are opting to go the “staycation” route.
Whether arriving from Gretna or Greece, visitors are clearly enjoying the two in-house restaurants. Owen described the ground-floor Miss River as “Shaya’s interpretation of the food that made New Orleans famous,” citing menu staples such as red beans and rice, fried chicken and duck gumbo. The setting is warm and lightly whimsical, as exemplified by a “Food Stage” near the middle of the establishment. This butcher-block-style table is where the chefs do some of the more visual food preparation, making dinner its own show.
Up on the fifth floor, Chemin a la Mer melds Louisiana, Gulf Coast and Caribbean flavors into a variety of savory dishes. Owen noted that both chefs did considerable research for their menus; one example of this is the Chemin gumbo, which uses a century-old recipe that predates the use of file in this Louisiana staple.
While “Four Seasons New Orleans” may still sound like an oxymoron to some uninformed observers, Owen said nothing could be further from the truth. “Our visitors tell me that we are marrying everything they like about New Orleans and everything they like about Four Seasons and putting them into one great place,” he reported.
And there is no better way to taste the fruits of this partnership than enjoying a meal at Miss River or Chemin a la Mer. | https://www.bizneworleans.com/four-seasons-and-new-orleans-an-unlikely-and-tasty-combination/ | 2022-08-18T22:26:28Z |
Keith Gross Joins SVN | Urban Properties
NEW ORLEANS – SVN | Urban Properties, a commercial brokerage, property management and development firm, has hired Keith Gross to fill the role of property manager.
Gross will oversee all aspects of the firm’s daily property management operations, which includes the oversight of 25 properties, totaling more than 550,000 square feet across six Louisiana parishes.
“Keith is the perfect fit to lead the expansion of our property management business, which started in 2019 with one property and has rapidly grown through the pandemic,” said Mike Bucher, partner and managing director of the firm. “Our clients value our detail-oriented approach to property management, and Keith’s background in construction and project management will enable us to enhance the property management services that we offer.”
After graduating with a bachelor’s degree in accounting from the University of Central Florida in 2010, Gross worked as a financial analyst as well as costuming project specialist for the Walt Disney Company until 2019. Since 2020, Gross has focused primarily on construction and property management in the New Orleans area. His hobbies include traveling, outdoor activities and sports, and spending time with his family and friends. | https://www.bizneworleans.com/keith-gross-joins-svn-urban-properties/ | 2022-08-18T22:26:35Z |
Loyola Launches Accelerated Nursing Program
NEW ORLEANS — Loyola University New Orleans’ School of Nursing has launched an accelerated bachelor of science in nursing degree to help meet the rising demand for nurses nationwide.
Designed to be completed in 17 months, the full-time, hybrid program provides students a combination of synchronous online learning and in-person clinical experience at facilities around New Orleans.
The School of Nursing’s education focuses on “holistic health, patient-centered care and experiential learning.” A Loyola spokesperson said the fast-tracked degree will provide students the “benefit of guaranteed clinical placements with one of Loyola’s local healthcare partners and a maximum faculty to student ratio of one-to-ten during clinical work.” The degree also offers extensive preparation for the National Council Licensure Examination.
The accelerated program was built on the pre-licensure bachelor of science in nursing program Loyola launched with Ochsner Health System last year.
Loyola said the first cohort of ABSN students begin this spring. Eligible candidates will have a bachelor’s degree in a field other than nursing and will have completed necessary prerequisites before beginning the program. | https://www.bizneworleans.com/loyola-launches-accelerated-nursing-program/ | 2022-08-18T22:26:41Z |
NASA’s Ambitious Artemis Mission Fueled by Rockets Built in New Orleans
NEW ORLEANS — It’s been almost 50 years since the last human being visited the moon, but that’s about to change. After years of preparation and testing, the first of NASA’s “Artemis” missions is set to launch on Aug. 29 from the Kennedy Space Center in Florida.
Artemis I will be an unmanned flight around the moon and serve as a test for Artemis II, III and IV, which will carry people to and from the moon — including putting the first woman and the first person of color on the lunar surface. And to get there, NASA is using what’s known as a Space Launch System, a complex system of rockets that are assembled at the Michoud Assembly Facility in New Orleans East.
The ultimate goal of the Artemis program is to build a permanent presence on the moon by establishing Gateway, essentially a spaceport orbiting the moon that will serve as a multi-purpose outpost and allow astronauts to travel back and forth from Earth more easily. Eventually — within the next decade or so, NASA hopes — Gateway will serve as a staging point for deep space exploration, including the first trips to Mars.
The Michoud facility, along with the Stennis Space Center in Mississippi and the Kennedy Space Center in Florida, are all part of a “Gulf Coast space corridor,” where rockets are built, tested and launched into space. And because every rocket used by NASA is assembled at the Michoud facility, it’s not hyperbole to say that the road to Mars starts in New Orleans East.
The rocket engine used on the SLS, called the “RS-25,” is the same engine that was used on the space shuttle missions — literally. Built by Aerojet Rocketdyne, the four engines powering the Artemis I core stage (the giant, orange-red cylinder that makes up the main body of the rocket) were all once used by space shuttles. One of them, “Engine 2045,” was used on 12 space flights, including the John Glenn flight in 1988 and the final shuttle mission in 2011. NASA says they’re “battle-tested and reliable,” which is something you want if you’re going to send people into outer space.
“The most complicated system on this whole rocket, including the crew capsule, are the engines,” said Mike McDaniel, general manager of Aerojet Rocketdyne at Stennis Space Center. “So to reduce risk, use something that you know works.”
Through a process called “adaptation,” technicians at the Stennis Space Center in Mississippi converted the engines for use by the SLS, adding 40,000 pounds of thrust and new technology that can take thousands of readings per second, making them safer and more efficient.
After the engines are repurposed at Stennis, they’re shipped to the Michoud facility and attached to the giant core stage rocket. Through a series of man-made canals that connect to natural waterways like the Pearl River, the rockets are loaded onto a giant, specially-designed barge called the “Pegasus” and shipped from the Michoud facility in New Orleans East to the Stennis Space Center for testing. Then they go back onto the barge and sail to the Kennedy Space Center in Florida, where they will be rolled out onto the launchpad — loaded with fuel, supplies and, eventually, people — and launched into space.
That’s exactly what is happening with the first Artemis mission. In March 2021, the core stage was successfully tested at Stennis in what’s called a “Green Run” (a full-duration firing of the engines designed to simulate a launch). The four RS-25 engines produced more than 1.6 million pounds of thrust, using more than 700,000 gallons of liquid oxygen and liquid hydrogen as fuel.
NASA B-2 Test Stand Director Ryan Roberts said the eight-minute test felt like an eternity.
“There were a lot of mixed emotions,” he said. “Watching this thing fire, I’m like, ‘This is the most incredible thing I’ve ever seen. This is the most incredible thing I’ve been a part of. But dang I’m glad it’s over.’”
The Green Run was the culmination of years of preparation and hundreds of people working thousands of hours, with countless setbacks and curveballs, including a global pandemic and the most active hurricane season in history. In fact, Stennis had to shut down and clear the testing site seven times in 2020 because of storm threats.
Teams of scientists, engineers, welders and others from Stennis, Boeing, Rocketdyne, the Michoud facility and NASA sites from across the country worked tirelessly to prepare for the test launch. They were singularly focused on the mission — Roberts even had to drive to the test site four times on Christmas Day to check on things. But, through it all, they never forgot why they were doing it.
“It’s truly historic to be a part of this, and we never lost sight of that,” Roberts said.
On Aug. 16, the SLS rocket for the Artemis I launch was rolled out onto the launch pad at Kennedy Space Center. Right now, the final preparations are being made ahead of the scheduled August 29 launch. McKibben said he wouldn’t miss it for the world.
“I’ll be at the Cape (Canaveral) to see it launch,” he said, “and there will be some tears shed, there’s no doubt.” | https://www.bizneworleans.com/nasas-ambitious-artemis-mission-fueled-by-rockets-built-in-new-orleans/ | 2022-08-18T22:26:47Z |
Report: Home Sales Slow Down but Median Price Continues to Rise
NEW ORLEANS — According to the July 2022 Monthly Indicators Report from the New Orleans Metropolitan Association of Realtors and the Gulf South Real Estate Information Network, high home prices and an increase in homeownership costs continue to slow buyer activity nationwide.
Home sales have declined for the fifth consecutive month, but there’s a bright side: despite the summer slowdown, the median sales price continues to rise, and homes are still selling quite quickly.
“The biggest struggles we’re seeing right now are the interest rates and finding affordable insurance,” said David Favret, NOMAR president, in a press release announcing the new report.
NOMAR’s latest Local Market Update covers the New Orleans Metro Area, including Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. James, St. Tammany, Tangipahoa and Washington Parishes. It’s designed to offer insight into regional real estate trends.
More than 100 years old, NOMAR is composed of the Realtors Association, Commercial Investment Division and GSREIN. | https://www.bizneworleans.com/report-home-sales-slow-down-but-median-price-continues-to-rise/ | 2022-08-18T22:26:53Z |
Susco Named One of Louisiana’s Best Service Providers
METAIRIE — Clutch, a ratings and reviews platform for IT, lists Susco Solutions as its No. 11 top Louisiana-based service provider. Susco has a Clutch Rating of 4.9 of 5, highlighting its commitment to providing outstanding quality to clients.
“Our number one core value is growth. We have been relentless in improving everything about our company – ranging from our hiring process, employee engagement, project management, and tech stack,” said Susco CEO Neel Sus in a press release. “This is manifesting in superior outcomes for all our stakeholders, be they our employees, the community or our clients. I’m very proud of the role we play in our clients’ digital transformations and helping their end-users contribute in more meaningful and fulfilling ways with our technology solutions.”
The 2022 Clutch awards recognize Susco’s dedication to providing top tier service across multiple aspects of the industry. Award winners are selected after an extensive evaluation of the companies’ industry knowledge, thought leadership, and capacity to deliver great results. | https://www.bizneworleans.com/susco-named-one-of-louisianas-best-service-providers/ | 2022-08-18T22:26:59Z |
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