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Demolition of historic church planned

The 147-year-old building is part of a four-plot teardown by developer LTNG.....»»

Category: blogSource: crainsnewyorkNov 24th, 2022

Prayers, the pledge of allegiance and culture wars: Inside a Doug Mastriano rally in the final days of his long-shot bid for governor of Pennsylvania

"He's what America used to be," a supporter said of Mastriano after the event in Bucks County, Pennsylvania. Republican candidate for Pennsylvania Governor Doug Mastriano, with his wife Rebecca, and (R) Republican candidate for Lt. Governor Carrie DelRosso after a rally in Manheim, Pennsylvania, on October 29, 2022.Mark Makela/Getty Images A Doug Mastriano rally in Bucks County, Pennsylvania, featured praying and wading into culture wars. The Republican candidate for governor is widely expected to lose on Election Day.  But his campaign and his supporters predict a victory.  FEASTERVILLE-TREVOSE, Pennsylvania – On a crisp fall afternoon, around 100 supporters waited eagerly inside a banquet hall, with bedazzled campaign buttons for the Republican nominee for governor pinned on their T-shirts. In their hands were red rally towels emblazoned with his name, Doug Mastriano.As Mastriano arrived, wearing a camouflage cap that read "Desert Storm Veteran" with the American flag printed on its bill, the crowd rose to its feet and swirled the towels in the air. Their hollers, whistles and applause drowned out the blaring of a Christian gospel song, Steven Curtis Chapman's "The Great Adventure," from a speaker.Less than three minutes later, the room quickly fell silent as attendees – mostly older adults but some young, and mostly white but a handful of people of color – took their seats and bowed their heads in a prayer led by David Parker, a retired lieutenant colonel in the Army's Medical Service Corps and now a part-time host at a local Catholic radio station."Let us walk assiduously, ladies and gentlemen," Parker said, "In these crucial last days for the campaign with God's help to restore Pennsylvania and our great nation to how our founding fathers established it, so we may walk as free people again."Once more they all stood, right hands on their hearts, and recited the Pledge of Allegiance. Then they sang the "Star-Spangled Banner."After a slate of local officials and candidates expressed their support for Mastriano, a state senator since 2019, his wife, Rebecca, introduced him."He's going to be the hardest fighter for you that you probably have ever seen in the governor's seat," she told the audience. "And I truly, truly believe that God has given everybody in this state a wake-up call."Mastriano then took the stage for more than half an hour. He spoke comfortably, throwing out a mixture of historical references and jokes, as he condemned COVID-19 lockdowns and vaccine mandates, attacked transgender youth, and called for election integrity and reform following the 2020 results. He vowed to expel gender "indoctrination" in classrooms, berated his Democratic opponent as soft on crime, pledged to make the state a net exporter of energy and blamed President Joe Biden for inflation. "This is our hour, this is our day, this is our moment," Mastriano said as he wrapped up his remarks. "Let us seize this opportunity to take back our state and ensure that our kids and grandkids have the same freedoms and opportunities that you and I grew up with." The October 27 rally in battleground Bucks County, roughly 22 miles north of Philadelphia, was just one stop on Mastriano's "Restore Freedom Tour" across Pennsylvania, where he's been delivering stump speeches to voters in an unconventional, long-shot bid for the state's highest office.Polls show Mastriano lagging behind his rival, Attorney General Josh Shapiro, by double digits. National and state Republican donors and groups have offered little support to his candidacy. He's rejected the news media. Critics have cast him as a far-right extremist, which he's repudiated. Strategists and pollsters deem it unlikely he'll win."Mastriano doesn't have much of a campaign to speak of," said Kyle Kondik, managing editor for Sabato's Crystal Ball at the University of Virginia Center for Politics. "And so if Mastriano were to win, it would be entirely because the environment got so bad for Democrats."But Mastriano's base is holding out hope, and Democrats aren't taking their lead for granted."Mastriano is basically – he's what America used to be," Parker told Insider after the event. "That's why he's resonating with so many people because he wants to restore how things used to be: civility, common sense – everything he said."Former President Donald Trump with Mastriano on stage at a rally in Wilkes-Barre, Pennsylvania, on September 3, 2022.AP Photo/Mary AltafferMastriano's controversial stancesMastriano started growing his loyal following in March 2020, when the raging pandemic forced Pennsylvania and the rest of the country to shut down. Almost nightly, he would lives-stream on Facebook in front of his living room's fireplace, decrying the state's quarantine and "stay at home" orders. The "fireside chats" soon found an audience of Keystone State residents, transforming the previously obscure state senator into a revered figure in conservative circles."He's just been there the whole time," a Mastriano voter in Bucks County who only identified himself as Jeremy, told Insider. "He's stood firm and he has stood for values, and that's something we've lost."Still, it wasn't until after the 2020 election that Mastriano's prominence ballooned. He elevated former President Donald Trump's baseless claims of voter fraud and spearheaded efforts to challenge Biden's victory in the commonwealth. That culminated in him spending leftover state Senate campaign funds to bus protestors to Washington, DC, for the "Save America" rally on January 6, 2021. Mastriano was also there but says he did not break into the Capitol as throngs of Trump supporters violently had.Staunch devotion to Trump eventually secured Mastriano a coveted endorsement from the former president, days before Pennsylvania's gubernatorial Republican primary. He prevailed over a crowded field with nearly 42% of the vote.But Mastriano has since drawn concerns that he's unelectable. He came under fire over his spreading of 2020 falsehoods, his past peddling of other conspiracy theories, and his association with far-right activists. He's promoted Pizzagate, which alleged that 2016 presidential nominee Hillary Clinton ran a child-sex ring out of a pizzeria, and QAnon, which purports that Trump is fighting to defeat a Satanic cabal of pedophilic elites.Mastriano's faith-infused campaign has also been criticized as Christian nationalism, the belief that America was founded as a Christian nation and should therefore govern as one. Though he dismisses that characterization, Mastriano has previously said the separation of church and state was a "myth" and claimed that Islam is incompatible with the US Constitution. Following immense bipartisan criticism over his ties to Andrew Torba, the founder of the far-right social media platform Gab that's become a hub for espousing antisemitism, Mastriano sought to distance himself.Observers say that Mastriano's outlandish views have alienated traditionally conservative and independent voters in a purple state like Pennsylvania. To win a statewide race, from the rust-belt towns to the suburbs, a "big tent" approach is usually the path to success. "Who he is has cost him support of a broader coalition because he is, on many issues, farther out than the moderate voter or the middle-of-the-road voter," Christopher Borick, director of the Muhlenberg College Institute of Public Opinion, told Insider.Some local Republicans, however, have flocked to Mastriano's side, disputing that he's a divisive candidate who's driven away swing voters. "I find that hilarious," Glenn Geissinger, chairman of Northampton County's GOP, a bellwether in the state, said. "What has he done that's polarizing?"  Mastriano speaks at an event in Feasterville-Trevose, Pennsylvania, on October 27, 2022.Oma Seddiq/InsiderA 'grassroots' campaignAlong with his statewide tour, Mastriano is fueling his so-called grassroots operation by relying heavily on social media to get his name out, posting repeatedly to Facebook and Twitter. He's rejected media interviews with national, state and local outlets, opting instead to speak to friendly hosts on Fox News and Newsmax. His campaign did not respond to a request for comment.While the strategy has certainly energized his base, experts say that's not enough to amass support from among the state's more than 8 million registered voters.Shapiro, with $11 million still in the bank, has significantly outraised Mastriano, who has $2.6 million cash-on-hand as of late September. The Democratic nominee has spent chunks of money launching negative TV and digital ad blitz targeting Mastriano, who's failed to do the same."You can't get your message out one-on-one to voters," Josh Novotney, a Pennsylvania GOP strategist, told Insider. "You need to be up with massive ad buys and also trying to control the media and the news. I haven't seen much of either of that."Mastriano's hyper-focus on culture wars, such as stoking anger over pandemic lockdowns when the nation has largely opened up, is also a losing tactic, according to political consultants. "He has not done a good job at making the conversation about the bread-and-butter winning issues that every other Republican in the country is talking about that is in a competitive race – and that's crime and inflation," Novotney said. "He may have talked about it a little bit," he added, but he "doesn't have the message discipline that I've seen to really make the race about that."Yet Mastriano is banking on his word-of-mouth technique to propel him to a victory on November 8. During the late October event, his campaign repeatedly urged the crowd to talk to their neighbors, knock on doors, and make phone calls to "spread the good word."Campaign signs for Mastriano are displayed in Danville, Pennsylvania.Paul Weaver/SOPA Images/LightRocket via Getty ImagesUnperturbed by the polls and the punditryShapiro, Pennsylvania's attorney general since 2017, won his 2020 reelection with 3,461,472 votes – more than any other candidate on the ballot, including Biden. His lengthy list of endorsements includes state law-enforcement officials, labor unions, and advocacy groups. Billboards along Pennsylvania's highways tout his backing from Republican voters. But for all the political machinery on their side, Democrats remain worried about a surprise Mastriano upset.  "Voters are anxious and enthusiastic, but I'm concerned, especially on the Democrat side, that we need to make sure we don't take it for granted," Rogette Harris, chairwoman of Dauphin County's Democratic Party, told Insider in her Harrisburg office.She pointed to a map on the wall – a sea of red – depicting Trump's stunning 2016 victory in Pennsylvania. "My goal as chair is to campaign like we're losing, regardless of what the polls say so that people still vote," Harris said.Republicans have the wind at their backs in this year's midterms, so it's possible Mastriano could become the state's next governor. But pollsters say it's a remote possibility.Besides "Mastriano wearing an R," there's nothing else working in his favor, Borick said. "It's gotta be just an absolute, historic Republican wave to carry someone like Doug Mastriano over the line in this cycle."Mastriano and his allies are unperturbed by the polls and the punditry. In the final stretch of the race, his social media messaging is persistent, and he's planned several campaign events, including one with Trump and Republican Senate nominee Mehmet Oz on Saturday."It's a different tactic and I pray it works," Joe Vichot, chairman of Lehigh County's GOP, told Insider. "I'm getting more and more confident every day that it will."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 3rd, 2022

New York City Celebrates Opening Of Tin Building By Jean-Georges As The Seaport Welcomes City’s New Culinary Marketplace And Global Destination

The Howard Hughes Corporation® (NYSE: HHC) and Chef Jean-Georges Vongerichten celebrated the opening yesterday of the Tin Building by Jean-Georges—a 53,000-square-foot culinary marketplace at Pier 17 at the Seaport on the site of the former Fulton Fish Market—which features an extensive offering of international food experiences at an iconic New York City waterfront... The post New York City Celebrates Opening Of Tin Building By Jean-Georges As The Seaport Welcomes City’s New Culinary Marketplace And Global Destination appeared first on Real Estate Weekly. The Howard Hughes Corporation® (NYSE: HHC) and Chef Jean-Georges Vongerichten celebrated the opening yesterday of the Tin Building by Jean-Georges—a 53,000-square-foot culinary marketplace at Pier 17 at the Seaport on the site of the former Fulton Fish Market—which features an extensive offering of international food experiences at an iconic New York City waterfront location. The opening of the reconstructed Tin Building at its historic Seaport location marks a major milestone in the revitalization of the Lower Manhattan neighborhood and creates a destination unlike any other in the city. The expansive new marketplace—with every product and menu item personally curated by acclaimed chef Jean-Georges—reinforces the Seaport’s reputation as New York City’s new culinary epicenter. With two levels offering over 20 new restaurants, bars, grocery markets, retail, and private dining experiences all under one roof, the highly anticipated new Tin Building is the largest culinary experience to open in Lower Manhattan in recent years, bringing over 700 new jobs to the community and driving significant economic benefit to the area. “New York City and our central business districts are coming back, thanks in part to creative new projects like this one,” said New York City Mayor Eric Adams. “A true culinary destination, the reconstructed Tin Building combines so many of the ingredients we need to revitalize Lower Manhattan, and offers wide-ranging and high-quality offerings, especially from a chef who appreciates plant-based food. The Tin Building will not only create jobs, but also attract New Yorkers and tourists—helping to keep this neighborhood vibrant for years to come. I applaud all of the partners for reimagining this site in a way that honors its history, while helping to bring this neighborhood into a new era.” The Tin Building by Jean-Georges is the first project completed by The Howard Hughes Corporation and Jean-Georges since HHC acquired a minority stake in the celebrated global restauranteur’s company earlier this year. “With the opening of the Tin Building by Jean-Georges, The Howard Hughes Corporation brings our commitment to creating best-in-class customer experiences to a uniquely immersive culinary destination at the Seaport,” said David R. O’Reilly, Chief Executive Officer of The Howard Hughes Corporation. “As we continue to work in close partnership with Chef Jean-Georges, we are excited for the many opportunities ahead for the expansion of Jean-Georges Restaurants across our national portfolio that will continue to set the standard for hospitality today.”  “The market at the Seaport was one of the first places I visited when I first came to New York City in 1985, and it has continued to be a consistent part of my culinary inspiration ever since,” said Chef Jean-Georges Vongerichten. “It has been a great privilege to have this opportunity to bring back the Tin Building and reinvent such an iconic New York staple in a new and authentic way—honoring and inspired by the Seaport’s rich history and continuing the legacy of providing a one-of-a-kind experience that pays tribute to the global influences found in New York City.” Culinary ExperienceThe Tin Building incorporates a wide range of culinary experiences into an authentic New York environment and includes aspects of favorite dining and retail experiences from around the world including a French brasserie, a seafood restaurant, an Asian speakeasy, a breakfast counter, several vegetarian options, a bakery, a coffee shop, and much more. The unique offerings are anchored by an expansive central marketplace at the building’s core featuring daily rotations of locally and sustainably sourced meats, seafood, cheeses, produce and ready-to-eat items. The Tin Building’s specialty food program offers a select, premium variety of Jean-Georges branded items such as sauces, oils, and marinades as well as candy, chocolate, and gifts—each hand-picked by Chef Jean-Georges. Reconstruction and Resiliency Before the reconstruction of the Tin Building began—a process which involved the meticulous cataloging, storage, repair, and refurbishment of roughly 300 items from the original building for historical reference and reuse—The Howard Hughes Corporation elected to undertake the extensive process of rebuilding the pier on which the Tin Building sits, including the demolition and reconstruction of the pier structures using new concrete and steel piles beneath the water. Once the pier was fully rebuilt, HHC elevated the building structure six feet to its current height of one foot above the FEMA 100-year floodplain to ensure long-term coastal resiliency. Over the past ten years HHC has spent $789 million on the development of Pier 17, the Tin Building, and the historic Seaport neighborhood, including rebuilding the piers and infrastructure along the waterfront, helping to drive the development of a more resilient Seaport community. Design The reconstructed Tin Building reflects and pays homage to the Seaport’s storied past. After the Tin Building was meticulously disassembled and recreated, Roman and Williams Buildings and Interiors took direction from the 1920s and 1930s to honor the history of the site, creating a beautiful, utilitarian feel within a contemporary context. The space is punctuated by restaurants and retail, each with their own distinct identity and design. The building’s central marketplace, which maintains the original Fish Market as its foundation, welcomes visitors upon entering the building with a feast for the senses. Throughout the building, ribbons of brass, details of turned wood, marble surfaces, and handmade tiles in maritime blues and greens channel Jean-Georges’ nostalgia for the original Tin Building, built in 1907. “The beauty of designing something like the Tin Building is that it comes alive when it’s in use—the way food comes alive when shared,” said Robin Standefer, principal and co-founder of Roman and Williams. “And we are so excited to see these spectacular spaces and historic walls buzzing with the excitement of their heyday once again.” The lighting concept throughout the entire Tin Building, designed by acclaimed lighting design firm L’Observatoire International, further reinforces the marketplace’s historical character and invites a cohesive journey through the building. The Tin Building exhibits numerous items and artifacts from the building’s history that were painstakingly preserved during the building’s reconstruction. A gallery wall of black and white photographs by fine art photographer Barbara Mensch captures the unique history, allure, and authentic character of the Seaport’s Lower Manhattan waterfront, reflecting the artist’s decades-long commitment to the neighborhood where she has lived since the early 1980s. In addition to honoring its past, the new Tin Building is designed for future innovation. A second-floor dining room and reception space also serves as The Tasting Studio—the Tin Building’s broadcast studio for the production of cooking segments and the recording of a daily Tin Building podcast. “Throughout our development at the Seaport, we have engaged in a collaborative dialogue with our local community to help revitalize Lower Manhattan and ensure a bright future for our Seaport neighborhood that reflects the incredible diversity of New York City,” said Saul Scherl, President of the New York Region for The Howard Hughes Corporation. “The reconstruction of the Tin Building further establishes the Seaport as a community anchor and gathering place. With locally and globally sourced foods, exciting programming, and the addition of new jobs, this revitalization is a testament to the Seaport’s enduring legacy as a thriving hub of opportunity and innovation.”  About Tin Building by Jean-Georges The Tin Building by Jean-Georges is an exciting new 53,000-square-foot culinary destination located at Pier 17 at the Seaport on the former site of the Fulton Fish Market. Inspired by New York City’s history as a bustling commercial and maritime hub, the Tin Building marketplace has been meticulously reconstructed and transformed into a multi-sensory culinary journey of global food & beverage experiences.  In partnership with The Howard Hughes Corporation®, the Tin Building by Jean-Georges features six new full-service restaurant concepts, six fast-casual counters, as well as bars focused on wine, craft cocktails and craft beers—all anchored by a central marketplace featuring a locally sourced, curated selection of seafood, meats, cheese, produce, plus three specialty retail markets. The building features interiors designed by acclaimed design studio Roman and Williams and lighting by L’Observatoire International. For more information guests can visit TinBuilding.com and media inquiries can be directed to TinBuilding@magrinopr.com. About The Howard Hughes Corporation® The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of large-scale, mixed use master planned communities, as well as operating properties and development opportunities including: the Seaport in New York City; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin® in Las Vegas, Nevada; Ward Village® in Honolulu, Hawai‘i; and Douglas Ranch in Phoenix, Arizona. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com. Safe Harbor Statement Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. The post New York City Celebrates Opening Of Tin Building By Jean-Georges As The Seaport Welcomes City’s New Culinary Marketplace And Global Destination appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyOct 1st, 2022

Victor Davis Hanson: Does GOP Get To Play By Radical Left"s New Rules?

Victor Davis Hanson: Does GOP Get To Play By Radical Left's New Rules? Authored by Victor Davis Hanson via AmGreatness.com, Are the New Progressive Rules Reciprocal? Are today’s norms tomorrow’s norms?  In the era of peak woke we are supposed to accept any radical departure from long-held custom and tradition as the new normal. Perhaps. But if so, is the improved new code of behavior at least reciprocal? Will the radical Left really wish to live by its own novel normality when it loses power?  Have leftists ever read Thucydides on the stasis at Corcyra and his warning that zealots who destroy laws, customs, and traditions for short-term gain, soon rue the day they began making such changes when, in vain, they seek refuge in the very sanctuaries of behavior that they have destroyed?   Or will they just plead that their own rules do not apply to themselves given their innate moral superiority? Will they employ the John Kerry defense that one must bomb the upper atmosphere with private-jet carbon emissions in order to do the important work of flying around the globe to stop carbon emissions?  The Supreme Court How about the new protocols regarding the Supreme Court?  Should conservatives mass at the home of Justice Sonia Sotomayor, decrying her radical nihilist abortionist ideology? Is that an understandable cri de coeur? Would such intimidation in the future moderate her extremism? Is that now an acceptable strategy?  Should Senate Minority Leader Mitch McConnell (R-Ky.) now lead a throng of screaming, right-wing protestors to the very doors of the Supreme Court? Should he egg them on by calling out by name Justices Ketanji Brown Jackson and Sotomayor, warning that they have sown the “wind” and will soon reap the “whirlwind,” as they will have no idea what “hit” them?   Is that moral courage? Would the New York Times and NPR nod approval to such “grassroots” anguish? Will anyone define what the incendiary “hit them” means?  When the Republicans gain the presidency and Congress, should they pack the court to 15 justices, on the cue of current progressive efforts?  Is the new norm that right-wing goons should dog Justice Jackson while eating at restaurants, throng her—and then be contextualized and excused by conservative cabinet members, media, and politicians? Is that our new normal reaction to rulings with which we disagree?  Should the next president trash the rulings of liberal justices when abroad before his foreign hosts? Should the conservative world keep mum when a crazy right-winger shows up fully armed near the homes of left-wing Supreme Court justices?   Should the Left one day achieve a 5-4 majority, would major conservative politicians then claim that their rulings are “illegitimate” and seek to find ways to nullify them?  Should conservative clerks leak controversial drafts of left-wing opinions to the media in hopes of mobilizing preemptive opposition to and strategies against subsequent progressive rulings? Are the Left’s new Supreme Court protocols the new normal that the Right, when in power, should duplicate?  The Congress  If the Republicans enjoy a Senate majority in 2023, should they follow the left-wing cue of Barack Obama—to end the “Jim-Crow-era” and “racist” filibuster, and thereby end “obstructionist” ideologues who prefer “gridlock”?  Should right-wingers designate 550 sanctuary jurisdictions in which overreaching federal environmental law simply does not fully apply? Are there to be cities and counties where federal gun registration is de facto dropped—on the principle of a higher allegiance to the Constitution?  When Republicans take over the House in 2023, should they immediately start impeachment proceedings against Joe Biden, for destroying the border and ignoring his oath to faithfully execute immigration laws?  Will they also appoint a special prosecutor to investigate the “Big Guy” to find how much of son Hunter Biden’s cash he received and whether he fully reported such income to the IRS—all to impeach Biden a second time as a private citizen once he leaves office? Is that the Left’s congressional legacy?  Or should they call in Ivy League psychiatrists right now to tele-diagnose Biden as demented and deserving of an “intervention” under the 25th Amendment? Should they subpoena transcripts of all Biden’s private calls with foreign heads of state, or bring in those on the national security council to testify to what Biden said privately to foreign leaders, to ferret out any sign of senility or reference to Biden family skullduggery?  Should a newly elected House Speaker Kevin McCarthy (R-Calif.) tear up on national television the next misleading and factually inaccurate State of the Union address by Joe Biden? Will the nation then voice support for his adherence to the Nancy Pelosi norm?   Will there soon be a return of the January 6 committee in which Speaker McCarthy appoints only those Democratic members who voted in 2023 to impeach Joe Biden and were political lame ducks? Will he announce that any members of “the squad” will not be serving on any congressional committees in 2023?  Should the selectively packed committee examine the 120 days of 2020 rioting, the planned attempt to storm the White House grounds on May 31, 2020, the burning of a historic church or of a federal courthouse, and the Black Lives Matter/Antifa conspiracy to riot, loot, and destroy that was coordinated on social media?  Will they call in an “insurrectionary abettor,” Vice President Kamala Harris, to ask why in the violent aftermath of an attack on the White House grounds did she as a vice presidential candidate boast that “protests” such as those would and should continue?  Should “insurrectionist” Stacey Abrams be compelled to testify about her prior year-long efforts to “nullify” the Georgia gubernatorial vote?  Will the new Congress investigate all the House and Senate members who tried to reject the Ohio vote of 2004, or who sought to pressure electors to reject their constitutional obligations in 2016, or all the senior left-wing politicians who claimed that the president in 2017 was “illegitimate,” the vote of 2016 was “rigged,” and Joe Biden should not honor the count in 2020 if it did not go his way?  Will there be a new committee to investigate “left-wing rage,” to ascertain why political attackers, mass shooters, and attempted assassins serially target conservative congressmen, senators, Supreme Court justices, and gubernatorial candidates? Do they use social media to plan their nefarious plots?  Was such unaddressed and ignored congressional rejectionism in the past “reckless” or even “insurrectionist”?  The Military  What will be the new norm should a new Republican-appointed chairman of the Joint Chiefs or defense secretary vow before Congress, without supporting documentation, that he is rooting out dangerous BLM and Antifa sympathizers in the military as likely insurrectionists?  Will he express worry about “black rage” that is reflected in inordinate proportional representation in spiking violent crime, and especially disturbing new asymmetrical hate-crime statistics? Will he worry that white males are vastly “overrepresented” in combat units and die on the front lines at twice their numbers in the general population? Is that a de facto violation to the most existential degree of equity and inclusion or diversity?  What will be the reaction if the next chairman of the Joint Chiefs calls up his Chinese Communist counterpart to warn him that Joe Biden is senile and talks recklessly about “removing” Putin, and thus China or Russia must be warned should Biden suggest something dangerous? Do new military norms accept the chairman now has operational authority and can simply abort the chain of command when he sees fit, regardless of the statutory link between the president and defense secretary and their theater commanders?  What will happen if a slew of conservative retired generals now senses a new normal and will thus publicly decry Joe Biden as a fascist, a Nazi-like failure, a veritable architect of Auschwitz border cages, a liar, a cheat, and deserving of removal the sooner the better? Will that be OK?  Will there follow applause or at least exemption under the new normal, or will an unhinged liberal voice in the wilderness vainly suggest such invective is improper if not illegal under the Uniform Code of Military Justice?  What would happen should the new military demand mandatory conservative and traditional civic education among the ranks, banish the current woke diversity-equity-inclusion industry—and thus see recruitment crash? Would the Left stay silent or scream as the army struggles to achieve just 40 percent of its recruitment goals?  The FBI and CIA  What about the new normal at the FBI? Will it stay a retrieval service, but this time around for a Republican president in 2025—should an addled first family member lose a feloniously incriminating laptop, a sexually embarrassing diary, an unlawfully and deceitfully registered handgun, or a wayward crack pipe?  Will the next FBI director preposterously open an investigation during the 2024 election, on rumors that the activities of the Biden family, of General Mark Milley, of Anthony Fauci, of key senators with Chinese financial interests all constitute a sort-of-kind-of “collusion” conspiracy with China, aimed at advancing a self-enriching and mutual left-wing agenda in the presidential election?  Will the FBI director claim 245 times under oath before Congress he has no memory of what he has ordered? Will it be a slap-on-the-wrist, reduced-sentence tacit approval that an FBI lawyer altered a court document to ensure we get to the bottom of “Chinese collusion”? Is it alright if we learn that a Republican presidential candidate hired a foreign ex-spy, and hid his pay behind three walls, to find dirt on his opponents?  Will Congress bring in some old right-wing FBI retired bulldog to compile a “dream team” of Federalist Society legal zealots to hunt for “Chinese collusion” among Democratic grandees?  Will the FBI investigate Mark Zuckerberg, following his $419 million dark-money trail to see how many state registrars were absorbed by Zuck-bucks cash in conspiratorial fashion?  Will an enterprising conservative ex-spy compile a fantasy “dossier” of alleged Biden family shenanigans, in lurid sexual detail, with the Chinese, and then peddle it to right-wing blogs on the eve of an election, all while being paid by the FBI?  In answer to the “Access Hollywood” and various lawsuits and investigations of Donald Trump,  will Congress form a committee equally to ferret out the apparent pandemic of left-wing sexual harassment, illicit romances, and dangerous liaisons, as they call in the Cuomo brothers, Andrew Gillum, Lisa Page and Peter Strzok, Rep. Eric Swalwell (D-Calif.), former New York Governor Eliot Spitzer, former Rep. Anthony Weiner (D-N.Y.)—and Joe Biden?  Will the FBI in 2025 be dispatched to school board meetings to monitor whether left-wing activists are too intimidating to board members? Will they bring in SWAT teams to arrest leftist political operatives whom the Republican Justice Department finds possibly indictable?  Will they put in chains prominent ex-Democratic advisors who refuse a Rep. Jim Jordan (R-Ohio) subpoena to appear before his new Hunter Biden committee? Will they roust out in their underwear, leftist reporters who are rumored to be in possession of a Republican president’s daughter’s diary, intimating she took inappropriate showers with her dad?  Will 50 prominent conservative ex-CIA operatives and other intelligence officers swear in 2024 that a lost Republican laptop outlining payoffs from foreign sources was a product of Chinese disinformation? Will former conservative CIA directors or directors of national intelligence lie under oath to Congress with impunity?  In sum, are today’s norms tomorrow’s norms?  Or were they simply transitory and necessary in the age of the dreaded Trump—as one-time leftist means to achieve noble ends, and thus should never be institutionalized much less boomeranged?  If so, will they reappear whenever the Left returns to power?  Or should they be applied equally to the Left right now to ensure that outrage and disgust with such immoral and illegal machinations prohibit their use in the future? Tyler Durden Mon, 08/01/2022 - 22:20.....»»

Category: personnelSource: nytAug 1st, 2022

Ex-Proud Boys leader Enrique Tarrio"s "we did this" boast haunts him in bail-bid hearing

Tarrio hopes to be sprung on $1 million bail. On Wednesday, a judge called the ex-Proud Boys leader's "We did this" boast "strong" evidence for keeping him in jail. Proud Boys leader Henry "Enrique" Tarrio wears a hat that says "The War Boys" during a rally in Portland, Ore., on September 26, 2020.Allison Dinner/AP A DC judge is weighing ex-Proud Boys leader Enrique Tarrio's bid to be let out of jail pending trial on Jan. 6 conspiracy charges.  At a hearing Wednesday, the judge said Tarrio's 'We did this' boast is 'strong' evidence for keeping him jailed. Tarrio is accused of leading the far-right extremist group's attack on the Capitol; more than 40 members are charged. Ex-Proud Boys Chairman Enrique Tarrio hopes to be released on $1 million bail as he awaits trial on his January 6, 2021, conspiracy case — but a DC judge said Wednesday that the former extremist group leader's "We did this" boast is strong evidence for keeping him jailed.Tarrio had made the boast to his top Proud Boys lieutenants on an encrypted chat channel, minutes after Rochester, New York, chapter leader Dominic Pezzola allegedly broke the first Capitol window with a riot shield forcibly stolen from an officer."Take Mr. Tarrio at his own words," a federal prosecutor, Jason McCullough, argued Wednesday in opposing Tarrio's bid for bail."At 2:24 [p.m.], he says, 'Make no mistake. We did this,'" McCullough told Judge Timothy Kelly in DC District Court."Later, in the 4 o'clock hour, he says — when he's asked what should we do — he says, 'Do it again.'"The prosecutor pointed out that the day before the Capitol breach, Tarrio was released on bail for burning a BLM banner stolen from a historic DC church.As a condition of that bail, Tarrio had to stay out of DC on January 6, 2021. But prosecutors contend that he directed his Proud Boys troops anyway, from a hotel room in Baltimore.And Tarrio's men "were the tip of the spear on January 6th," the prosecutor told the judge of the successful effort to disrupt Congress as it certified Joe Biden's presidential win. "Mr. Tarrio is in celebration of it publicly and most importantly in private, taking responsibility for it," the prosecutor said."As rioters are 11 minutes into the building, Mr. Tarrio is on private encrypted chat with that same group saying, 'Make no mistake. We did this.' He's asked also, in the same chat, 'Are we a militia yet?' To which he responds, 'Yup.'"Mr. Tarrio is exercising control over these men," even from Baltimore, the prosecutor said. "And he is aware of what they have done."  Defense lawyer Nayib Hassan argued that Tarrio always respected bail conditions when released after two previous arrests and is not a flight risk now. Tarrio's entire family lives in South Florida and is ready to post a $1 million bond secured by the homes of his grandfather and aunt, and would agree to home confinement at his mother's house in Miami, his lawyer said."It goes without words that Mr. Tarrio has renounced his position as chairman of the Proud Boys. I think that's common knowledge," the lawyer noted."He is not chairman of the Proud Boys anymore," the lawyer added. "He hasn't done anything whatsoever, communicated whatsoever, with the Proud Boys since January 6."And as for the Proud Boys, Hassan insisted it was "just a group of friends that talk and discuss but never planned anything per se."The two sides also gave opposing accounts of a January 5, 2021, meeting, in a DC parking garage, between Tarrio and Stewart Rhodes, the now-indicted leader of the Oath Keepers.Hassan said Tarrio's only purpose in going to the garage was to meet with a lawyer, Kellye SoRelle, who represented Oath Keepers and Latinos for Trump.Tarrio was interested in SoRelle representing him, Hassan said, and in fact, can be heard in video filmed prior to the meeting saying "I just need to talk to her." McCullough countered that Tarrio's agenda upon being released from bail went beyond an innocent legal consultation and that Tarrio, whose phone had been confiscated by law enforcement, can be heard in the same tape saying, "I need a communication device" and "I need access to my Telegram." His co-defendants, meanwhile, were communicating themselves about Tarrio and his "plan" for the riot, prosecutors said."The fundamental point here is that Mr. Tarrio on release was focused on and engaged in regaining control and regaining communication for the command and control structure that he had put in place for January 6," the prosecutor said.The judge did not say when he would rule on Tarrio's bail request, only that it would be "shortly." All five Proud Boy conspiracy defendants are back before the judge on Thursday.Of his bail decision, the judge said, "I think it comes down largely to the strength of the evidence," rather than anything to do with the garage meeting, or Tarrio's criminal record and community ties."And I take many of your points, Mr. Hassan, that there's a lot of circumstantial evidence," the judge continued. "There's a lot of evidence here, and some of it connects to your client stronger — like when he directly said, 'Make no mistake. We did this.' And some of it connects to your client very deeply. And I will sort it all out." Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 18th, 2022

Construction starts on Adjaye-designed Princeton University Art Museum

Construction has begun on the new Princeton University Art Museum, a new building on the site of the former Museum in the Princeton campus. Roughly doubling the square footage of the existing facility, the 144,000 s/f facility significantly increases spaces for display, learning and visitor amenities. The Museum, which will... The post Construction starts on Adjaye-designed Princeton University Art Museum appeared first on Real Estate Weekly. Construction has begun on the new Princeton University Art Museum, a new building on the site of the former Museum in the Princeton campus. Roughly doubling the square footage of the existing facility, the 144,000 s/f facility significantly increases spaces for display, learning and visitor amenities. The Museum, which will occupy three stories, will insert itself dynamically into campus life with key pedestrian pathways flowing into and through the building via two “art walks” — thoroughfares that function as the new building’s circulatory spine.  A grid of nine pavilions breaks down the scale of the complex into more intimate modules and allows for deeply varied gallery experiences. The building’s exterior will be characterized by rough and polished stone surfaces responding to the campus surroundings, as well as signature bronze details throughout, alternating solid elements with more transparent features that speak both to the present moment and to the historical Princeton context. SIRE DAVID ADJAYE  The architect Sir David Adjaye, whose firm, Adjaye Associates, is best known for its design of the Smithsonian’s National Museum of African American History and Culture, was selected as the project architect in 2018. Cooper Robertson is the executive architect. With expansive and growing collections of more than 112,000 globe-spanning works of art from antiquity to today, the Princeton University Art Museum is a major center for the study of the humanities and the visual arts in the United States. The new facility will also house Princeton’s Department of Art and Archaeology and Marquand Library; together, the three units will continue to function as a leading site for research and teaching.  The design overcomes multiple historical barriers to participation, making the visual arts an essential part of the University experience for all Princeton students and an accessible home of democratic engagement for community members and visitors. Contracts were awarded in June 2021, and over the summer demolition began on the former Museum complex, most of which dated to periods of construction in the 1920s, 1960s and 1980s.  “David Adjaye’s design for Princeton reflects our deep commitment to the values of openness, transparency and interconnectedness for our campus constituents, local communities and global audiences,” said James Steward, the Museum’s Nancy A. Nasher–David J. Haemisegger, Class of 1976, director. “It’s a remarkable opportunity both to build on the past and to shape a new museum at this particular historical moment, and in doing so to make clear the important role museums can continue to play in an ever more complex world.” Princeton’s art collections date nearly to the University’s founding in 1746 — the first work of art was acquired in 1755 — making Princeton one of the oldest collecting institutions in North America. Working closely with Adjaye Associates, James Corner Field Operations has developed the landscape design for the site, preserving the nearby historically important Prospect Garden, as well as the mature canopy of elms and beeches along McCosh Walk, on the north edge of the site. A number of historically important or specimen trees are being preserved — including a 100-year-old dawn redwood — while other rare trees have been relocated to different locations on the Princeton campus. Those trees that had to be felled will be repurposed by regional artisans into furniture or household furnishings that will be sold through the Museum Store. The landscape features native species and drought-resistant plantings for year-round interest. With demolition expected to be complete this month, concrete foundations to be poured starting this month and construction continuing into early 2024, the Museum has undertaken a number of strategies to maintain its scholarly and public impact during the years of disruption.  It is operating two gallery spaces in downtown Princeton within walking distance of the campus: Art@Bainbridge, a project space privileging installation work by emerging and early-career artists in an historic Revolutionary-era building, and Art on Hulfish, a larger gallery space of a more industrial character. Two outdoor exhibitions are also planned, beginning with the video work of the artist Doug Aitken. In addition, the Museum will be touring four exhibitions to museums across the United States and Mexico while construction is carried out. The post Construction starts on Adjaye-designed Princeton University Art Museum appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyDec 17th, 2021

The 12 best new books to read in October, according to Amazon"s editors

According to Amazon's book editors, the best new books to read in October include picks from Jonathan Franzen, Jane Goodall, and Chibundu Onuzo. According to Amazon's book editors, the best new books to read in October include picks from Jonathan Franzen, Jane Goodall, and Chibundu Onuzo. Amazon; Rachel Mendelson/Insider When you buy through our links, Insider may earn an affiliate commission. Learn more. Amazon's book editors have picked their top 10 new books to read in October 2021. This month's books include a look at Anthony Bourdain's life and a memoir from a PepsiCo CEO. For more book recommendations, check out the best new books of 2021 so far, according to Goodreads. October is here, which means that Amazon's book editors have 12 newly released books for you to dig into this month.Their top choice is "Sankofa" by Chibundu Onuzo, a novel about a woman who discovers that the father she's never met is actually the president of a nation in Africa. Other recommended books include a book co-written by Jane Goodall, an in-depth look at Anthony Bourdain's life on the road, and Jonathan Franzen's latest novel.Here are the 12 best titles new in October, according to Amazon's editors:Descriptions are provided by Amazon and edited lightly for clarity. 'Sankofa' by Chibundu Onuzo Amazon A grieving woman living in London discovers the diary of the father she never met and yearns to meet him. The twist? He was the president of a country in Africa — determined to liberate and bring prosperity to the people, no matter the cost.Cue the trip of a lifetime. Taking on questions of race, belonging, and heritage, Onuzo writes with gusto and beautifully illuminates what Sankofa means: "A mythical bird…it flies forward with its head facing back." — Al Woodworth, Amazon Editorby Chibundu Onuzo (button) 'In the Weeds' by Tom Vitale Amazon Fans of Anthony Bourdain's shows will at last get what we have long desired: A behind-the-scenes view of life on the crew, traveling to faraway places, and working directly with Bourdain.Written by his long-time director and producer, "In the Weeds" is the affectionate but unvarnished story of their years together, revealing just how tremendously complicated shooting the show really was, and Bourdain's love/hate relationship with "The TV machine." —Seira Wilson, Amazon EditorAround the World and Behind the Scenes with Anthony Bourdain (button) 'The Lincoln Highway' by Amor Towles Amazon Towles' ("A Gentleman in Moscow") latest feat of storytelling finds four boys in search of a fresh start: Emmett and Billy want to find their mother who left them when they were young, and Duchess and Woolly are on the hunt for a stashed wad of cash.There's train hopping and car stealing, and with that comes the inevitability of trouble sparked from both good and bad intentions. Each of these young men is chasing their dreams, but their pasts — whether violent or sad — are never far behind. —Al Woodworth, Amazon Editor: A Novel (button) 'Crossroads' by Jonathan Franzen Amazon It's 1971 and the Hildebrant family is at a crossroads, if you will. Russ, the patriarch and associate pastor at his church, has recently fallen from grace in a scandal concerning the church's youth group. Meanwhile, his wife and four children are wrestling with issues of their own.The first in a planned trilogy, "Crossroads" proves, yet again, Franzen's prowess at writing riveting dysfunctional family sagas. It's his most commercial work since 2001's "The Corrections." — Sarah Gelman, Amazon EditorA Novel (button) 'We Are Not Like Them' by Christine Pride Amazon When a woman's husband, a police officer, is involved in the shooting of an unarmed Black teenager, and a friend covers the story for a Philadelphia TV station, their bond is tested as both deal with the tragedy in very different and personal ways.Co-written by two authors — one of whom is Black and one of whom is white — "We Are Not Like Them" tackles tough issues like race, brutality, and class with unflinching honesty and empathy, and will be a big hit with book clubs. — Sarah Gelman, Amazon EditorA Novel (button) 'Cloud Cuckoo Land' by Anthony Doerr Amazon In a novel reminiscent of the mind-bending worlds of David Mitchell's "Cloud Atlas" and "The Bone Clocks," Pulitzer Prize-winning Anthony Doerr ("All the Light We Cannot See") traces the lives of multiple characters and how they intersect over the fate of a single story.Expansive, transporting, and full of emotion and adventure, "Cloud Cuckoo Land" conjures an entirely new definition of brilliant literary magic. — Al Woodworth, Amazon Editorby Anthony Doerr (button) 'No One Will Miss Her' by Kat Rosenfield Amazon "No One Will Miss Her" begins with the discovery of a young woman's body — Lizzie, the pariah of Copper Falls, Maine — a poor, lower-class young woman looked down on both by the police at the murder scene and even by the man she married.Lizzie narrates from beyond the grave as Detective Ian Bird starts investigating everything, from Lizzie's dad to her missing husband to what business Adrienne Richards — a trophy wife who's been renting Lizzie's lakeside house — had in a dump like Copper Falls. You won't want to miss this dark, tart, and pacy mystery. —Vannessa Cronin, Amazon EditorA Novel (button) 'What Storm, What Thunder' by Myriam Chancy Amazon This is one of the best books I have read this year. The novel begins by introducing Ma Lou, a woman working in a market in Port-au-Prince when Haiti was hit by the devastating 2010 earthquake.From there, author Myriam J. A. Chancy introduces additional characters and storylines that somehow add to the story without splitting the reader's attention. It is rare that a novel is able to become the defining work about a historic event, but "What Storm, What Thunder" feels like one of those books. — Chris Schluep, Amazon Books Editorby Myriam J A Chancy (button) 'The Book of Hope' by Jane Goodall and Doug Abrams Amazon "We still have a window of time," explains famed naturalist Jane Goodall to writer Doug Abrams. "There really is reason to hope we can succeed."Through several interviews in Tanzania, the Netherlands, and England, Abrams asks Goodall to delve into her keen commitment to hope, much as he movingly did in "The Book of Joy" with the Dalai Lama and Archbishop Desmond Tutu. Goodall's words and wisdom will resonate in your heart and soul, inspiring action, change, and, yes, hope. — Adrian Liang, Amazon EditorA Survival Guide for Trying Times (Global Icons Series) (button) 'The Man Who Died Twice' by Richard Osman Amazon Elizabeth, Joyce, Ron, and Ibrahim — the Thursday Murder Club — get very little time to bask in the glow of solving their first murder case when Douglas, Elizabeth's ex-husband, pops up with a wild tale that involves being on the run and £20M of uncut diamonds.Faster than you can say "tea and scones" someone is murdered, and the Thursday Murder Club must catch a killer before he eliminates them. This clever, funny mystery is a must-read for anyone with even a mild case of Anglophilia. — Vannessa Cronin, Amazon EditorA Thursday Murder Club Mystery (button) 'The Brides of Maracoor' by Gregory Maguire Amazon After nearly drowning, Elphaba's granddaughter Rain wakes up with no memory on an island that is home to only seven female "brides" ranging in age from 10 to 80. The brides spend their days keeping time in check for all of Maracoor, and Rain — accompanied by a talking goose with a wicked sense of humor — begins to learn about this strange land, all the while hoping her memory will return.Details from Maguire's earlier Oz books are a delight to encounter in a tale, the first in a trilogy, that strikes the perfect balance between fantasy and topics of agency, xenophobia, and justice. — Seira Wilson, Amazon Editor: A Novel (Another Day Book 1) (button) 'My Life in Full' by Indra Nooyi Amazon Reading Indra Nooyi's "My Life in Full", you can't help but like her. Sure, she's tough and driven enough to have made it to the top of PepsiCo — the first woman of color and immigrant to run a Fortune 50 company — but she is family-oriented and cares about people as more than just potential customers.Nooyi writes that a leader's fundamental goal should be to shape the decades ahead, not just react to the present, and the future she envisions includes a world where people have room to both make a living and to live their lives. — Chris Schluep, Amazon EditorWork, Family, and Our Future (button) Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 12th, 2021

Obama oversees groundbreaking for his presidential library in Chicago

"We want this center to be more than a static museum," the former president said. "It won't just be an exercise in nostalgia … we want this to be a thriving home." Barack and Michelle Obama. Jim Young/AFP/Getty The Obamas on Tuesday oversaw the groundbreaking of the former president's presidential library in Chicago. The library will be built in Chicago's Jackson Park, located on the city's South Side. After a series of construction delays, the library site will soon be buzzing with activity. See more stories on Insider's business page. Former President Barack Obama on Tuesday kicked off the groundbreaking of his presidential library in Chicago, returning to the city that launched his stratospheric rise from the Illinois legislature to the White House.While standing in the city's historic Jackson Park, the location of the Obama Presidential Center, the former president and former First Lady Michelle Obama exalted in the momentous occasion, alongside a small number of guests that included Illinois Gov. J.B. Pritzker and Chicago Mayor Lori Lightfoot.The Obamas remarked on the significance of the library being built in Chicago.The former president emphasized how he received his first taste of public service in the city in the 1980s, pushing to enact change by "knocking on doors and organizing in church basements," while also reminiscing that it was the place where he started a family."It was in neighborhoods not far from here that I began working with church groups in the shadow of closed steel mills," he said.The former president then said that while the library will explore his years in the White House, the focus will be on fostering ideas and training future leaders across all disciplines."We want this center to be more than a static museum or a source of archival research," he said. "It won't just be an exercise in nostalgia … we want this to be a living, thriving home."The former first lady, a native of the South Side of Chicago, leaned into her deep roots in the surrounding area."No matter what I've accomplished or who I met or where I've gone, one of my greatest honors is being a proud Chicagoan and a daughter of the South Side," she said at the ceremony. "I wear it boldly and proudly like a crown. This city, this neighborhood, courses through my veins. It makes me who I am."In 2016, the former president selected Jackson Park as the site of his presidential library, a development that has energized the South Side with a hope for increased economic opportunities.The former first couple envision that the complex, which is expected to cost roughly $830 million and take about five years to build, will be a dynamic cultural center, with event spaces, recording studios, play spaces, and a Chicago Public Library branch, among other amenities planned for the site. Construction on the library commenced in August after a series of delays.A nonprofit organization called Protect Our Parks, which opposed the library being built in the park and wanted it constructed on a nearby site to the west, in August filed an emergency motion asking that the Supreme Court temporarily bar construction.The applicants argued that the groundbreaking should have been halted because the trees in Jackson Park, designed in 1871 by the famed landscape architect Frederick Law Olmsted, are important for migratory birds, in addition to raising concerns about noise and air pollution.Supreme Court Justice Amy Coney Barrett, who is assigned to handle cases for much of the Midwest, denied the motion, allowing for construction to proceed.Obama, who served in the Illinois Senate from 1997 to 2005, was elected to the US Senate in 2004 before launching a nascent presidential bid in 2007.In 2008, he became the first Black American elected to the presidency in US history, and was reelected in 2012.After leaving the White House, the Obamas have devoted their time to a range of causes, including their work with the Obama Foundation, as well as launching a production company, Higher Ground Productions, which has created content for Netflix.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 28th, 2021

Oil-Dri Announces Record Sales and Improved Profitability for the First Quarter of Fiscal Year 2023

CHICAGO, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Oil-Dri Corporation of America (NYSE:ODC), producer and marketer of sorbent mineral products, today announced results for its first quarter of fiscal year 2023.   First Quarter (in thousands, except per share amounts) Ended October 31,   2022 2021 Change Consolidated Results       Net Sales $98,539 $82,460 19% Net Income Attributable to Oil-Dri $5,241 $585 796% Earnings per Common Diluted Share $0.78 $0.08 875% Business to Business       Net Sales* $33,687 $24,809 36% Segment Operating Income* $7,257 $5,539 31% Retail and Wholesale       Net Sales* $64,852 $57,651 12% Segment Operating Income* $7,574 $1,281 491% * Segment net sales and operating income for three months ended October 31, 2021 have been adjusted for a realignment of segments. See Note 11 of the unaudited Notes to the Condensed Consolidated Financial Statements in our Quarterly Report on Form 10-Q for the year ended October 31, 2022. Daniel S. Jaffee, President and Chief Executive Officer, stated, "I am very pleased with our first quarter of fiscal 2023 results. We achieved record consolidated net sales, and all of our principal products experienced double-digit growth over the prior year. I am very proud of how our team responded to the challenges presented by rampant inflation and logistics constraints. Consolidated gross profit substantially increased, and our gross margins expanded by 580 basis points. This marks our fourth consecutive quarter of margin improvement. While we are pleased with the positive momentum, we realize that our margins are still falling behind our historic norms. Therefore, we anticipate further pricing actions in the months ahead. Additionally, we will be investing heavily in our manufacturing infrastructure to support the increased demand for our products." Consolidated ResultsConsolidated net sales in the first quarter reached an all-time high of $98.5 million, a 19% increase over the prior year. This increase was driven by pricing actions taken across multiple principal products in order to improve profitability. Sales from the Company's cat litter, agricultural and fluids purification businesses drove the majority of this growth. Oil-Dri also experienced higher sales of its animal health and industrial & sports products, while revenues from co-packaging coarse cat litter items slightly decreased. First quarter consolidated gross profit was $22.3 million, an increase of $8.5 million, or 61%, over the first quarter of the prior year, as margins expanded to 22.6% in fiscal 2023 from 16.8% in fiscal 2022. Domestic cost of goods sold per ton increased 11% compared to the prior year as a result of inflation on key cost inputs. In the first quarter of fiscal 2023, consolidated operating income was approximately $6.6 million compared to $0.4 million in fiscal 2022. Higher selling prices offset inflationary impacts on cost of goods and a $2.4 million, or 18%, increase in Selling, General and Administrative ("SG&A") expenses. These elevated SG&A costs were primarily driven by a higher bonus accrual due to improved quarterly results compared to the Company's performance target under the annual incentive plan. Income tax expense increased to $1.2 million in the first quarter of fiscal year 2023 compared to $0.1 million in the same period last year due to the Company's higher taxable income. First quarter consolidated net income attributed to Oil-Dri reached $5.2 million in fiscal 2023 from $0.6 million in fiscal 2022, reflecting a very strong improvement over the prior year. Product Group ReviewThe Business to Business ("B2B") Products Group's first quarter revenues reached a record $33.7 million, a 36% gain over the prior year. All principal products within the B2B Products Group demonstrated very strong topline growth. The agricultural products business experienced record quarterly net sales of $10.0 million, or a 61% increase over last year. Higher prices as well as an increase in demand from several large customers contributed to the revenue improvement. Sales of fluids purification products were an all-time high of $18.2 million, or a 21% increase over the prior year. Revenues within North America and Latin American predominately drove this growth resulting from increased pricing and elevated demand of our products used in the processing of edible oil, renewable diesel and jet fuel. Amlan, the Company's animal health business, reached $5.5 million in sales, or a 52% increase over the prior year. This success was primarily a result of higher demand within Latin America where a considerable portion of antibiotic free meat is exported to the European Union. The Company also experienced revenue increases within the United States due to a new product line and expanded distribution. While sales to Mexico and China rose during the first quarter compared to last year, our animal health business in Asia (excluding China) decreased due to the timing of orders and ocean freight delays. Operating income for the B2B Products Group was $7.3 million in the first quarter of fiscal 2023 compared to $5.5 million in fiscal 2022, reflecting a 31% increase. Higher sales were partially offset by inflationary headwinds on cost of goods sold and a $0.8 million, or 24%, increase in SG&A expenses. The Retail and Wholesale Products Group's first quarter revenues reached an all-time high of $64.9 million, a 12% increase over the prior year. This was primarily driven by a $5.2 million or 12% increase in domestic cat litter sales, excluding the Company's co-packaged coarse-cat litter business. Scoopable and coarse cat litter products experienced topline growth during the first quarter as a result of pricing actions to offset ongoing inflationary headwinds. Revenues from combined domestic branded and private label lightweight litter items rose 19% in the first quarter of fiscal 2023 versus the prior year, once again exceeding the lightweight litter segment sales growth of 10% for the 12-week period ended October 29, 2022, according to third-party research data for retail sales1. Both cat litter and floor absorbent products from Oil-Dri's subsidiary in Canada demonstrated sales growth in the first quarter of fiscal 2023 compared to the prior year. Domestic industrial and sports products showed a $1.5 million or 18% revenue improvement in the first quarter of fiscal 2023 driven by price increases implemented to rebuild margins. Sales from the Company's co-packaging coarse litter business decreased by $0.3 million in the first quarter of fiscal year 2023 compared to last year due to softer volumes. Operating income for the R&W Products Group was $7.6 million in the first quarter of fiscal year 2023 compared to $1.3 million in the prior year. Higher sales coupled with a reduction in SG&A expenses offset elevated costs of goods sold. SG&A expenses for the first quarter of fiscal year 2023 decreased by $0.4 million, or 10%, from last year, primarily driven by lower advertising spending. Oil-Dri expects advertising costs for the full fiscal year 2023 to be higher than fiscal year 2022 and more in line with historical levels, with the majority of the spending concentrated in the second half of the year. Oil-Dri will host its first quarter fiscal 2023 earnings discussion and its fiscal 2022 Annual Meeting of Stockholders virtually via a live webcast on Wednesday, December 7, 2022 at 9:30 a.m. Central Time. Participation details are available on the Company's website's Events page. ¹Based in part on data reported by NielsenIQ through its Scantrack Service for the Cat Litter Category in the 12-week period ended October 29, 2022, for the U.S. xAOC+Pet Supers market. Copyright © 2022 Nielsen. Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the Company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals. "Oil-Dri" and "Amlan" are registered trademarks of Oil-Dri Corporation of America. Certain statements in this press release may contain forward-looking statements that are based on our current expectations, estimates, forecasts and projections about our future performance, our business, our beliefs, and our management's assumptions. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls, and conference calls. Words such as "expect," "outlook," "forecast," "would," "could," "should," "project," "intend," "plan," "continue," "believe," "seek," "estimate," "anticipate," "may," "assume," "potential," and variations of such words and similar expressions are intended to identify such forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially including, but not limited to, the dependence of our future growth and financial performance on successful new product introductions, intense competition in our markets, volatility of our quarterly results, risks associated with acquisitions, our dependence on a limited number of customers for a large portion of our net sales and other risks, price fluctuations and pressures, increases in costs, disruptions to our and our counterparties' businesses and operations and other uncertainties and assumptions that are described in Item 1A (Risk Factors) of our Quarterly Report on Form 10-Q for the quarter ended October 31, 2022 and our most recent Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission. Should one or more of these or other risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise. Category: Earnings Contact:Leslie A. GarberManager of Investor RelationsOil-Dri Corporation of AmericaInvestorRelations@oildri.com(312) 321-1515 CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)                   Three Months Ended October 31,     2022     % of Sales     2021     % of Sales Net Sales $ 98,539     100.0 %   $ 82,460     100.0 % Cost of Sales   (76,229 )   (77.4 )%     (68,642 )   (83.2 )%.....»»

Category: earningsSource: benzinga4 hr. 58 min. ago

Price Of Ship Fuel Falling Even As Russia-Ukraine War Rages On

Price Of Ship Fuel Falling Even As Russia-Ukraine War Rages On By Greg Miller of FreightWaves.com When Russia invaded Ukraine, the price of ship fuel spiked to unprecedented highs. Prices are still high in historical terms, but they’ve now fallen back to prewar levels. Ship fuel is getting cheaper as fears of future demand weakness drag down the price of oil. Ship & Bunker put Friday’s average price of very low sulfur fuel oil (VLSFO) — the fuel used by most commercial ships — at $685.50 per ton (based on prices at the top 20 refueling hubs). That’s down 39% from the all-time high on June 14 and on par with prices seen in January. The average price of high sulfur fuel oil (HSFO) — the fuel burned by ships using exhaust gas scrubbers — was $457 per ton, down 32% from the high on May 5 and back to levels seen in September 2021. Average prices at top 20 refueling hubs (Chart: American Shipper based on data from Ship & Bunker) The price of ship fuel is important to importers of containerized cargo because shipping lines pass on fuel costs via bunker adjustment factors (BAFs). In bulk commodity shipping, the price of fuel is important to spot markets because shipowners pay for fuel on spot voyages. Shipowner spot earnings are net of that cost.  Meanwhile, the VLFSO-HSFO spread is pivotal for owners of ships with scrubbers. The higher the discount of HSFO to VLSFO, the more scrubbers pay off. Container shipping fuel surcharges falling On Friday, DPI Signals reported container line BAFs for the first quarter of 2023. The good news for cargo shippers: BAFs are now coming down rapidly as shipping lines pass along fuel-cost savings. The Asia-West Coast BAF of Zim (NYSE: ZIM) will be 32% lower in Q1 2023 versus Q4 2022, falling to $720 per forty-foot equivalent unit. Evergreen’s Asia-West Coast BAF peaked in Q3 2022. In the coming quarter, it will be down 41% from that high, at $443 per FEU. In the Asia-East Coast lane, Cosco’s BAF will fall 21% between Q3 2022 and Q1 2023, to $1,425 per FEU. CMA CGM’s BAF will decline 21% between the fourth quarter and the first, to $1,098 per FEU. Scrubber savings volatile but remain high The spread between VLSFO and HSFO jumped to over $300 per ton in January 2020, when the new IMO 2020 regulation went into force. That regulation required ships without scrubbers to switch from HSFO to more expensive VLSFO. But in the wake of the initial COVID lockdowns, the VLSFO-HSFO spread collapsed to around $50 per ton. This raised the question of whether scrubber installations were a mistake. A spread of around $100 per ton is generally seen as the point where scrubber installations make economic sense. As oil pricing and refinery utilization picked up in 2021, the spread widened again. When Russia invaded Ukraine, it rocketed to new highs, surpassing the previous peak in January 2020. According to Ship & Bunker data, the average spread at the 20 top refueling hubs hit an all-time high of $420.50 per ton on July 5. It has fallen back again in recent months. The spread was $228.50 per ton on Friday. Even so, scrubbers are still paying off handsomely for shipowners. According to Clarksons Securities, a spot-trading, scrubber-equipped Capesize (a bulker with capacity of around 180,000 deadweight tons) earned $9,400 more per day than a nonscrubber Capesize as of Monday, due to fuel savings. Spot earnings of Capesizes with scrubbers burning HSFO were 75% higher than Capesizes without scrubbers burning VLSFO. A 2011-built, scrubber-equipped very large crude carrier (VLCC; a tanker that carries 2 million barrels of crude) was earning $14,100 more per day than a nonscrubber VLCC in the spot market on Monday, a 26% premium. What’s driving the spread? American Shipper asked Stefka Weschsler, marine fuels editor at Argus, about what’s driving the spread and what could happen after the EU bans imports of Russian refined products. “Russia exports more HSFO than VLSFO, but Russia also exports distillate fuel, which is used as a blend stock to make VLSFO,” Weschsler explained. After the war began, VLSFO prices increased in the Amsterdam-Rotterdam-Antwerp (ARA) bunkering market, while HSFO prices declined. The spread rose to historic highs in July “as a reaction to distillates availability erosion.” The decline in the spread this autumn was due to the price of VLSFO dropping faster than the price of HSFO. Between July and November, VLSFO prices in ARA fell 25% and HSFO prices 18%, according to Argus data. The decline in VLSFO pricing outpaced HSFO “as Northwest Europe reshuffled its VLSFO sources, importing from the U.S. Gulf Coast, Gabon, Algeria, Tunisia, the UAE and Argentina,” said Weschsler. Asked about the EU ban on Russian products imports starting Feb. 5, he said, “Market views are divided. Some think that with Russian distillates completely out of the EU market, ARA VLSFO prices will outpace HSFO prices [widening the spread].” “Others think the spread will narrow once all Russian HSFO stocks are depleted from the ARA,” he said. In other words, lower HSFO supply would increase HSFO prices relative to VLSFO. Container shipping to drive future scrubber installations Scrubber installations make the most sense on high-capacity vessels on long-haul runs. Installations are more cost-effective with newbuildings than with retrofits. Data from Clarksons Research shows a sharp rise in scrubber use over the past two years, but also, that most future installations will be on newbuilds, primarily on container ships. In January 2020, when IMO 2020 was implemented, 35% of all VLCCs either on the water or on order had scrubbers installed or installations planned. As of Monday, the VLCC scrubber share had risen to 48%. However, future VLCC scrubber installations are limited. The orderbook is extremely small, with only 27 VLCCs on order. Of those, only 26% will have scrubbers installed. Of VLCCs in service, only 19 (2% of the fleet) have scrubber retrofits planned. The share of Capesizes with scrubbers or planned installations rose from 35% in January 2020 to 42% currently. As with VLCCs, the low orderbook will limit future installations. Only 19 of the Capesizes on order (16% of vessels under construction) will get scrubbers, and only 11 currently operating Capesizes have retrofits planned (less than 1% of the fleet), according to Clarksons Research data. The container shipping industry has been the biggest scrubber adopter in terms of fleet share. The share of container ships with capacity of 12,000 or more twenty-foot equivalent units that have scrubbers or plan to have scrubbers increased from 52% in January 2020 to 59% currently. Unlike VLCCs and Capesizes, newbuildings play a major role, as container shipping now has a historically large orderbook. According to Clarksons’ data, there are 140 container ships with capacity of 12,000 TEUs or more on order that will have scrubbers installed, representing 46% of ships under construction in that size category. Tyler Durden Tue, 12/06/2022 - 09:10.....»»

Category: personnelSource: nyt11 hr. 46 min. ago

Emergency demolition knocks down "unsafe building" owned by Cordish Cos. — set to be part of $254M mixed-use development

A weekend fire may have started work on an unnamed $254 million development a little earlier than planned. The proposed project would replace a surface parking lot, the Calvert's Express auto repair shop and two other buildings just south of Truman Road on both sides of Main Street......»»

Category: topSource: bizjournals14 hr. 58 min. ago

Antifa Aims To Disrupt Florida Rally Opposing The Sexualization Of Children

Antifa Aims To Disrupt Florida Rally Opposing The Sexualization Of Children Authored by Jannis Falenstern via The Epoch Times (emphasis ours), A rally organized to out activism that encourages children to question their gender identity and sexual orientation has inspired fury. Florida Fathers for Freedom members and others gather on Jan. 23, 2022, in Fort Lauderdale, Fla., at a "Defeat the Mandate" rally to protest forced masking. (Courtesy of Florida Fathers for Freedom) Now, threats of a rage-filled counter-protest have rally organizers requesting law enforcement officers to attend their planned gathering on Dec. 3 at a beach in Fort Lauderdale, Florida. Conflict bubbled up after three very different groups organized the Protect the Children rally to display solidarity against policies aimed at sexualizing children, alienating them from their parents, and helping them pursue gender-transition treatment. They plan to gather at Fort Lauderdale Beach on the corner of Las Olas Boulevard at 11 a.m. Local chapters of Moms for Liberty, Fathers for Freedom, and Gays Against Groomers wanted to come together to peacefully speak against “radicalized sexual curriculum, gender ideology, child grooming, parental alienation, and ‘gender-affirming care,'” said Eulalia Jimenez, president of the Moms for Liberty Miami chapter. But when Antifa members heard of the gathering, they urged their peers in Twitter posts to “confront this hatred” and “protest against hate.” They referred to Protect the Children rally organizers as “fascists” proliferating “stochastic terrorism,” and spread fliers that read, “We can’t allow this kind of bigotry to go unchecked.” The term “stochastic terrorism” refers to public demonization through so-called “hate speech,” which some say can be used to incite violence against a person or group. Antifa members display their own signs at the site of a protest against a drag bingo event at a church in Katy, Texas, on Sept. 24, 2022. (Bobby Sanchez for The Epoch Times) A flier for the Antifa response urges, “Assert your right to exist! Counter protest against far-right bigotry and stand with the LGBTQ+ community. Bring masks, signs, and rage. Stand against those who aim to erase your existence.” Jimenez isn’t surprised. Antifa members often disrupt Moms for Liberty gatherings and shout down parents speaking at local school board meetings, she said. The Protect the Children rally was planned at the beach because it’s a place where people congregate, a “good spot to spread awareness, empower others, and create unity,” Jimenez said. She hopes the event will be about peace, unity, “empowering others and informing parents and citizens,” she said. “We feel children should have the right to be children.” The rally isn’t meant to be against other groups. “It’s not about ugliness and nastiness,” Jimenez said. “And unfortunately, the other side, that’s the way they roll.” Hijacking LGBT Antifa’s rhetoric harms the gay community, said Anthony Raimondi, a board member of Gays Against Groomers (GAG). “As an organization, we want to protect the LGBT community in the sense that the community has been hijacked,” Raimondi told The Epoch Times. Years ago, gay people erroneously were assumed to be pedophiles, he said. “We have come so far” in dispelling that assumption, he said. But in the current culture, as many gay people and others oppose efforts to block the sexualization of children, “it’s almost like we’ve been set back,” Raimondi said. On social media, GAG founder Jaimee Michell has described her group as “a coalition of gays against the sexualization, indoctrination, and medicalization of children.” Gays Against Groomers posted on its Twitter feed that the gay community has “fought for decades to dismantle binary gender stereotypes, just for radicals to build them up again, and butcher and sterilize children who don’t abide by them.” Michell also has posted on Twitter, “There is no such thing as a trans kid.” Anthony Raimondi, a board member of the Miami chapter of Gays Against Groomers, plans to speak at a Protect the Children rally on Fort Lauderdale Beach on Dec. 3, 2022. (Courtesy of Anthony Raimondi) Jimenez understands the frustration. She’s not just the local leader of the conservative group Moms for Liberty. She’s also the mother of a gay daughter. So she values groups like Gays Against Groomers, she says, because they’ve “stood up and said, ‘No! You’re not going to use us.'” Jimenez respects that they assert, “We choose [whom] to love, but we don’t push anything on the kids.” She also has compassion for those participating in Antifa activities. Many, she said, are kids who are just being used. “Many of them don’t even understand what is really going on,” Jimenez said. “They’re just so desperate for love and attention, and they’re going about it the wrong way. “Others,” she continued, “are just plain—in my opinion—evil and they do not care who they hurt and what they have to do to get what they want.” Antifa has the right to assemble, says Florida Fathers for Freedom organizer Elon Gerberg. He’s not worried about the group’s so-called “counter-protest,” calling it nothing more than a “distraction.” The Protect the Children rally is “about coming together to bring attention to this attack on our children,” Gerberg told The Epoch Times. “In my opinion, they are our most precious commodities and our future leaders. If we can’t stand up for them, who can you stand up for?” In signing the Parental Rights in Education bill in March, Florida Gov. Ron DeSantis, a Republican, “put his head on the chopping block for parents and the children of the state,” Gerberg said. Before it was signed into law, the five-page legislation was debated around the country and was reviled by its opponents, who misleadingly referred to the measure as the “Don’t Say Gay Bill.” Despite what opponents said, the bill doesn’t prohibit teachers or students from discussing a child’s questions about sexual orientation or gender identity, and it doesn’t keep them from talking about LGBT loved ones in class. Read more here... Tyler Durden Sun, 12/04/2022 - 16:15.....»»

Category: blogSource: zerohedgeDec 4th, 2022

The Trumpification Of Elon Musk

The Trumpification Of Elon Musk Authored by J. Peder Zane via RealClear Politics, The relentless attacks on Elon Musk since he purchased Twitter should be familiar to most Americans. It’s exactly what Democrats and their media and corporate allies did to demonize Donald Trump. The McCarthyite formula is simple: Claim you are defending high-minded principles (Democracy! The rule of law! Civil discourse!) to justify efforts to delegitimize someone you’ve identified as a political opponent. Democrats denied Trump’s presidency from day one; Hillary Clinton and Joe Biden themselves declared for years that he had stolen the 2016 election. In the name of election integrity, Democrats turned a bogus conspiracy theory cooked up by Clinton’s campaign about Russian collusion into years of official investigations that undermined and tainted Trump. When Special Counsel Robert Mueller proved that a lie, Democrats immediately seized on a few innocuous sentences in a Trump phone call with a foreign leader to launch just the third presidential impeachment in U.S. history. Those events are well-known, but ponder them for a moment. This was a soft coup, a nonviolent version of Jan. 6 that was far more dangerous than the Capitol riot. The effort to remove a lawfully elected president was planned and orchestrated by officials at the highest level of government and the media. While Jan. 6 was a one-off eruption of crazed anger, the false attacks on Trump edged our political discourse toward Orwellian Newspeak by presenting lies and smears as ringing defenses of sacred constitutional values. The ongoing attacks against Musk are following the same playbook. The man once hailed by liberals as a genius for developing electric vehicles is now Public Enemy No. 1 because he says Twitter should allow more free speech. Ponder that as well: Musk’s enemies are casting him as a threat to the country because of his commitment to one of America’s most cherished freedoms. Progressives have abandoned their longstanding anti-corporate stance to argue that an unelected, unaccountable company must aggressively censor the vox populi. We saw the same dizzying turnabout in Russiagate, where the left abandoned its historic defense of Russia to cast dealings with that nation as un-American (making Joe McCarthy their new “Uncle Joe”).  Yes, Musk has restored Donald Trump’s Twitter account which the company’s previous leaders had disabled when he was president. But there is zilch, zero, nada evidence at this point that Twitter has become a toxic cesspool of hate. Nevertheless, that is the bogus claim being advanced by thought leaders including Jelani Cobb, dean of Columbia University’s journalism school. Ponder the argument here that a corporation should have the power to remove the president of the United States from communicating through one of the nation’s prime networks. The same people who cheered that decision also thought it was appropriate for Twitter to help swing the 2020 election by prohibiting users from sharing blockbuster reports about Hunter Biden’s foreign dealings, recorded on his laptop. If one needs any more proof that principle has no part in the attacks on Musk, consider that while Apple has joined many other major companies in pulling its advertising from Twitter, it issued an update only for its Chinese users limiting a function commonly used by protestors as discontent was percolating against that country’s extreme COVID restrictions. The attacks on Musk shed light on a darker mystery of American life: Why did the left attack Trump so savagely? Yes, Trump is a coarse, combative man who has the same relationship with truth as a used-car salesman. But that hardly makes him an outlier in our coarse, combative culture where, the left has long argued, truth and almost everything else we used to define as reality are just social constructs. At bottom, they saw Trump – and now Musk – as a threat to their power and privilege. For all their talk of democracy and the will of the people, the left has always embraced a top-down approach in which a benighted few control society. Trump was the first president without political or military experience. He  was not just an outsider; he  also promised to expose the hypocrisy and self-dealing of the ruling class, both Democrats and Republicans (hence the rise of “Never Trump” Republicans). The fact that this man with no political experience accomplished so much – including helping the economy hum, brokering a peace deal in the Middle East, calling out China’s ruthlessness, and creating conditions for the development of a COVID vaccine in record time – exposed the failures of our best and brightest. He wasn’t a threat to the nation, but to their authority. The left sees Musk as a similar threat. For decades they have largely controlled the flow of information in prestige publications and network news divisions. The rise of social media gave them new mechanisms for defining national narratives, and for silencing those who disagreed with them through cancel culture and outright censorship. They see Musk’s promise to restore free speech on Twitter as a threat to this power. Whoopi Goldberg stated this baldly when she counseled liberals to walk away from Twitter until they figure out how to “get the control you need” of the platform. Hence the effort to Trumpify Musk. Ponder for a moment the ubiquity and ferocity of attacks on this one man and the outrageous effort to cast calls for censorship as ringing defenses of liberty. Consider too that this, like the treatment accorded Trump, has not just been normalized, but valorized. When authorities lose the power to convince, they coerce. That is what is going on now as they tell us to shut up and submit. Please tweet that out. Tyler Durden Sat, 12/03/2022 - 21:30.....»»

Category: blogSource: zerohedgeDec 3rd, 2022

Interior demolition begins for $141M Jefferson Arms redevelopment in downtown St. Louis

A developer has been working on a planned redevelopment of the massive downtown building since 2016, with long delays attributed to contractor disputes and the pandemic......»»

Category: topSource: bizjournalsNov 30th, 2022

Ventures Development Group, BCDC Start The Southerly at Shipyards in St. Augustine

 Ventures Development Group (VDG) and joint-venture partner BCDC have broken ground on The Southerly at Shipyards, a 270-unit, Class A apartment community in St. Augustine, Florida.  The project is part of a larger master-planned development, including townhomes, single-family for-sale residential homes, a boutique hotel, walkable retail, flex office space and a signature... The post Ventures Development Group, BCDC Start The Southerly at Shipyards in St. Augustine appeared first on Real Estate Weekly.  Ventures Development Group (VDG) and joint-venture partner BCDC have broken ground on The Southerly at Shipyards, a 270-unit, Class A apartment community in St. Augustine, Florida.  The project is part of a larger master-planned development, including townhomes, single-family for-sale residential homes, a boutique hotel, walkable retail, flex office space and a signature restaurant all overlooking the San Sebastian River and historic downtown St. Augustine. “We are pleased to work again with BCDC in providing another best-in-class residential community, specifically to the St. Augustine market,” said Sean Siebert, principal of Ventures Development Group. “We believe our attention to detail differentiates our communities from others in delivering what tenants desire when choosing their homes.”  “The Southerly at Shipyards represents the sixth development in which VDG and BCDC will serve as partners, bringing a high degree of familiarity and a proven track record for success to the sponsorship team,” said BCDC President and CEO Litt Glover. “Our project is thoughtfully designed to be the best-in-class, capitalizing on the exceptional location and surrounding development master plan.” The Southerly will feature luxury finishes and resort-style community amenities, including a sky lounge overlooking the San Sebastian River, a pool and hot tub, outdoor kitchen with a firepit and pizza oven, 24-hour fitness center and a co-working lounge. The property will also include a club room, package room, pet park and dog-washing station and a structured parking garage accompanied by street-level parking spaces.  VDG is leading the project with co-sponsor BCDC. Ameris Bank is the senior lender. JHP Architecture & Urban Design is the architect and ARCO Murray is the general contractor.  The partnership expects the delivery of the first units in the 2nd quarter of 2024. The post Ventures Development Group, BCDC Start The Southerly at Shipyards in St. Augustine appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 29th, 2022

Where Is All The Oil Going - Part 2

Where Is All The Oil Going - Part 2 Authored by Russell Clark of the Capital Flows and Asset Markets substack; Part one can be found here The fall in oil price this year is that is has been accompanied by a truly historic fall in US oil inventories. As a rule, collapsing inventories are seen as bullish, as they normally have to get replenished, however I am pretty sure the SPR will never be refilled. In my original note, I wondered where all the oil was going. Using OECD data, which looks at not just crude oil inventory, but product inventory we can see that the sell down in SPR has largely turned up overseas. While it is easy to characterize the sell down of the SPR as political driven, there are good economic reasons for it. In recent years, the growth of US oil production has led to a fall in net imports, from a peak of 10m barrels a day to around 2m at the moment. The Strategic Petroleum Reserve (SPR) was built up by the US government so that the US would always have 90 days of net crude oil imports on hand. This is the number that the IEA suggests that all its members hold as oil inventory. The US commercial sector did not hold that much inventory in 1980 to 2010s, so the SPR was needed. However, as us net imports have fallen, the need for the SPR has disappeared. I think it very unlikely the US will ever refill the SPR. None of the other IEA nations have had a large increase in oil production like the US, so no other nation is in a position to reduce inventories like the US. As the US is a bigger producer of oil, it needs less strategic reserves is quite obvious. But the problems for the SPR are bigger than that. The SPR is held in storage in Texas and Louisiana. The reason for that is that was where the US imported most of its oil to then distribute to refiners in the midwest and elsewhere. The problem is that the big shale production growth has been located in and around Texas, so very little oil is now imported. This means that it was even when the SPR released oil, there was very little domestic demand for it. As far back as 2016, the Department of Energy realised that the SPR was not practical anymore and had planned to sell oil slowly into the market to generate the capital to modernise the whole SPR system. In the same report, US SPR Long Term Strategic Review, they also looked at a scenario when Russian oil became unavailable. In this scenario, the plan was to release 1.8 m barrels a day. The reality is that SPR has been selling oil down at a slower rate than this plan, which again this plan showed was likely as there was limited shipping capacity. In some ways the Russian invasion of Ukraine has done the SPR a favour. It has allowed them to reduce the size of the reserves that was increasingly look like a stranded asset. The reports states that the average purchase price of SPR oil is USD 30 a barrel. The SPR sell down would have generated a USD10bn profit so far. The fall in SPR also completes China’s domination of commodity markets. Japan has the highest reported strategic reserve at 511m barrels, but Chinese reports state that China has achieved 90 days of import coverage, which leads to roughly 1bn barrels of reserves at the current import rate of 12m barrels a day. The big take away for me is the SPR number is no longer important. It will keep falling as long as oil prices stay high. The operational minimum is 10% of total capacity, which means 70m barrels, but over time this could fall to zero. It also means that Chinese demand is now much more important to the oil market, particular once the SPR sell off is completed. Unfortunately, good data on Chinese demand is hard to come by. All I know is that when I look at the LNG market in Asia is still indicates that energy supply is tight. An old rule of thumb has oil should trade 10 times the natural gas price, so current Asian LNG prices imply oil prices of USD 300 a barrel in Asia. But again prices here have been weak this year, although natural gas is a very seasonal market. One energy market that I trust is the US natural gas futures market. It successful highlighted the oversupply of the energy market from 2011 onwards, and correctly foresaw the tightness of market in 2021 and 2022. Current pricing is not showing the weakness that spot oil is showing, which makes me think, that the energy market is still tight. In conclusion, SPR selling is likely to continue for another 12 to 18 months, as long as they can realize a good price for the oil. This is likely as long as the Russian invasion of Ukraine continues. This could keep a lid on oil prices, but all investors need to start focusing much more on China for directions on the oil market. Tyler Durden Sun, 11/27/2022 - 09:20.....»»

Category: smallbizSource: nytNov 27th, 2022

Dozens of times drought, ice melt, and storm surge unearthed unusual and unsettling discoveries this year

As the world warms, old sites, ancient artifacts, rare fossils, and even human remains are being unearthed. A formerly sunken boat sits upright with its stern stuck in the mud along the shoreline of Lake Mead on June 22, 2022.AP Photo/John Locher This year, human-caused climate change has exposed a spate of unusual discoveries. Among the unearthed finds are old sites, ancient artifacts, rare fossils, and even human remains. Scientists have said things will continue to emerge as rising global temperatures affect the weather. This year, as human-caused climate change steadily warms the planet, depleting bodies of water, melting ice, and strengthening storms exposed a bevy of lost treasures and forgotten stories.Among the unearthed finds are old sites, ancient artifacts, rare fossils, and even human remains.Climate change is making certain weather storms and droughts more severe and pervasive in many parts of the world, by causing changes in precipitation and enhancing evaporation, according to the latest Intergovernmental Panel on Climate Change report, published in April. Moreover, rising global temperatures are thawing glaciers, adding water to the ocean and contributing to eroding beaches.As the world warms, unusual and unsettling discoveries will continue to emerge.A rusted metal barrel, near the location of where a different barrel was found containing a human body, sits exposed onshore during low water levels due to the western drought at Lake Mead on May 5, 2022.Mario Tama/Getty ImagesShrinking lakes and rivers unearthed long-submerged secrets around the worldNevada's Lake Mead is a prime example of retreating shores that have led to a recent spate of discoveries. This summer, low water levels created an eerie boat graveyard of previously sunken ships and beached boats, the Associated Press reported.The manmade reservoir's plummeting water levels also revealed human remains on at least six occasions since May, The Guardian reported.More bodies could turn up, given that water levels have receded to historic lows amid a climate change-fueled drought, according to Jennifer Byrnes, a forensic anthropologist who consults with the Clark County coroner's office."I would expect human remains of missing persons will probably be revealed over time, as the water level continues to recede," Byrnes previously told Insider.It's not just Lake Mead. Some locations along the Mississippi River — a major shipping route — reported their lowest water levels in 10 years, the National Oceanic and Atmospheric Administration said in its most recent climate report.Researchers estimate the fossilized American lion jaw, pictured in October, went extinct about 11,000 years ago.Anna ReginelliIn October, low water levels along the Mississippi River's banks revealed a 19th-century old ship, skeletal remains, and a rare fossilized jawbone from an ancient American lion that roamed the area roughly 11,000 years ago.In Spain, at least two once-submerged villages have reemerged as Europe experienced an ongoing drought.In February, the village of Aceredo in Spain's northwestern Galicia region reemerged after a drought drained a dam on the Spanish-Portuguese border. In Spain's Vilanova de Sau in the Catalonia region, plummeting water levels in a reservoir exposed a 11th century Romanesque church, the Associated Press reported.The top image shows an 11th century Romanesque church partially exposed in a reservoir in Vilanova de Sau, Catalonia, Spain, on June 20, 2022. The bottom image shows the same spot on Friday, November 18, 2022.AP Photo/Emilio MorenattiMelting ice is revealing remnants of the past frozen in timeBeyond droughts, warmer average global temperatures are thawing and receding glaciers around the world, according to a growing body of research. In turn, that's unveiling previously frozen remains and artifacts.In western Mongolia and Norway, melting ice has exposed fragile artifacts, including ancient tools, rope, spears, and arrows, according to William Taylor, an archaeologist at University of Colorado Boulder. In The Conversation, Taylor writes that the melting ice give scientists a narrow window of time to secure these objects before weather and exposure to the elements damages or degrades them.Switzerland's melting glaciers revealed the remains of a 1968 plane in August.Rebecca Gresch/Stefan Gafner/Hüttenwarte KonkordiahütteMore recently, in August, melting glaciers in the Swiss Alps revealed two sets of human remains and the wreckage of a plane crash that had been frozen beneath snow and ice. Local police said in a statement that their investigation determined the plane parts found on the glacier were from a Piper Cherokee plane that crashed on the glacier on June 30, 1968."At the time of the accident, more than 50 years ago, the technical means to recover aircraft wreckage in difficult terrain were limited. Due to the melting of the glaciers, particularly in summer, it is therefore possible that other pieces or pieces of wreckage may be released from the ice," police said in the statement, according to a Google translation.Stronger storm surge and sea level rise are exposing burial groundsFlorida Fish and Wildlife Conservation Commission employees guard the area where ancient human remains were uncovered by Hurricane Nicole, on November 11, 2022, on Chastain Beach.Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty ImagesIn some cultures, including among Indigenous tribes that lived in what is now known as Florida, ancestral remains are traditionally buried along the shore.In November, Hurricane Nicole's storm surge eroded parts of the east Florida coastline and unearthed a Native American burial ground that dated back hundreds of years, according to local news reports.Investigators believe the bones belonged to the Seminole tribe and came from a Native American burial ground located nearby. "They are ancestors of the Seminole people," Tina Osceola, a member of the Seminole tribe in Florida, told WPTV. "That we do know."Research suggests that storms are intensifying due to warming waters fueled by climate change, in turn causing more and more sand to erode from beaches.This is not the first time that hurricanes have unearthed Indigenous remains. In September 2019, a weakened Hurricane Dorian caused beach erosion that unearthed ancient Native American bones in the same stretch of the eastern Florida coast, WPTV reported.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 26th, 2022

Denholtz Properties and Redwood Real Estate Group Joint Venture to Construct 143-Unit Class-A Multifamily Community in Downtown Bound Brook

 A Joint Venture between Denholtz Properties, a leading real estate development and investment company, and Redwood Real Estate Group, a fourth-generation privately held real estate investment company, announce their plans for The Rail at Bound Brook, a 143-unit Class-A multifamily community located at 100 Hamilton Street in Bound Brook, N.J. Construction... The post Denholtz Properties and Redwood Real Estate Group Joint Venture to Construct 143-Unit Class-A Multifamily Community in Downtown Bound Brook appeared first on Real Estate Weekly.  A Joint Venture between Denholtz Properties, a leading real estate development and investment company, and Redwood Real Estate Group, a fourth-generation privately held real estate investment company, announce their plans for The Rail at Bound Brook, a 143-unit Class-A multifamily community located at 100 Hamilton Street in Bound Brook, N.J. Construction is slated to begin by the end of 2022 with an estimated completion in Q2 of 2024. The Rail at Bound Brook will be the latest addition to Denholtz Properties’ growing portfolio of premier luxury multifamily communities. Featuring a design from award-winning architects Minno & Wasko, The Rail at Bound Brook will include a diverse mix of studios, one-bedrooms, one-bedrooms plus dens, and two-bedrooms, designed for post-COVID-19 living with extra-work-from-home space and outdoor balconies and terraces in select units. In addition, the six-story building will boast a generous amenities package including an expansive courtyard with outdoor grills and seating, an indoor fitness and yoga studio, a game room and bike storage. Located in the heart of downtown Bound Brook, a historic borough in Somerset County, recently selected as the Best County to Live in New Jersey by Niche, The Rail at Bound Brook will offer residents an opportunity to live in one of New Jersey’s hottest up-and-coming communities. The community is just feet away from the Bound Brook Train Station and is easily accessible to the wide range of dining and shopping options found across Somerset County. Bound Brook’s emergence comes on the heels of the completion of The Army Corp of Engineers’ $143 million flood control project in 2016. Through the work, the borough has been able to effectively eliminate the flooding that had long caused it to consistently lag behind its nearby peers in real estate investment and redevelopment.  Since the completion of the flood mitigation efforts, the borough and the State of New Jersey have taken significant additional steps to attract real estate investment including designating Bound Brook as a Transit Village and distributing $2.2M for the creation of a one-block pedestrian plaza adjacent to the planned entrance of The Rail at Bound Brook. “Recognizing and efficiently capitalizing on opportunities in the real estate market underpins everything that we do at Denholtz Properties,” said Steven Denholtz, CEO of Denholtz Properties. “With highly favorable local demographics, a strategic location and tremendous untapped redevelopment opportunities, Bound Brook is the perfect next location for us to execute our opportunistic investment strategy. We look forward to bringing The Rail at Bound Brook to life and helping the Borough to become a destination for residents and visitors alike.” The Rail at Bound Brook augments Denholtz Properties’ rapidly growing portfolio of premier multifamily communities across the United States. Opened this fall, The Rail at Red Bank’s 57 units and 7,500 square feet of ground-level retail have transformed the area surrounding the Red Bank Train Station. In addition, the company has also bolstered its presence in the southeast adding 5150 JB Drive Apartments, a 384-unit multifamily property in Murfreesboro, Tenn. and Vida Apartments, a 289-unit multifamily community in Kannapolis, N.C. to its portfolio in the last year. The post Denholtz Properties and Redwood Real Estate Group Joint Venture to Construct 143-Unit Class-A Multifamily Community in Downtown Bound Brook appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 21st, 2022

Historic Montco property"s $5M rebuild, planned to open in spring, will add hotel rooms to region

Nearly two years after a fire caused substantial damage, the historic hotel and events venue will reopen its Carriage House in spring with additional hotel rooms and amenities......»»

Category: topSource: bizjournalsNov 18th, 2022

Adults Are Spending Big on Toys and Stuffed Animals—for Themselves

Toy companies like Lego, Mattel, and even Build-a-Bear are courting the booming "kidult" market Visitors to the bustling Lego store in midtown Manhattan this holiday season may be surprised by what greets them upon their entrance. After waiting in a line so long that it requires a bouncer, they will find not only sections dedicated to Star Wars and Harry Potter, but also an area labeled “Adults Welcome.” Occupying about a third of the store’s floor space, it invites those who are young at heart, if not in body, to build. In neat stacks sit a Lego typewriter, a Lego grand piano, a Lego Colosseum, and a Lego version of the set of Friends. Some of the construction kits are eerily specific, like a Lego Real Madrid soccer stadium, a Lego Bugatti Chiron 42083, and a Lego version of the ’80s-era Nintendo NES gaming console. [time-brightcove not-tgx=”true”] Lego is far from the only toy company catering to a previously neglected sector of the market. Just a few blocks away, at FAO Schwarz, millennials crowd into the Funko Pop section, where they can buy big-headed figurines of characters like Elaine from Seinfeld and the exercise instructor Richard Simmons. In 2020, Hasbro introduced an adult version of Play-Doh perfumed with smells like “overpriced latte” and “fresh-cut grass.” In 2021, Fisher-Price brought a Bluetooth-enabled version of the vintage Chatter Phone toy—the one with a face on its dial pad—to the market for grownups. In October, McDonald’s started serving Adult Happy Meals, toys included. Mattel, meanwhile, has added alcohol to the menu at the American Girl store, and in 2020 launched an adult-oriented wing of the company called Mattel Creations that partners with celebrities and fashion designers to create limited-edition toys. Its Tesla Cybertruck retailed at $400. A Gucci collaboration with Hot Wheels sold out online in less than a minute. Build-a-Bear, whose typical customers are young children looking to customize their snuggly playthings, introduced new “After Dark” stuffed animals—including a bunny named Pawlette who wears a T-shirt that declares “It’s Wine O’Clock Somewhere” and carries a bottle of red wine—in 2019. Last year they added a “Bear Cave” section to their website that you must be over 18 to enter. Companies have long manufactured puzzles, board games, and coloring books marketed specifically to adults who need to reconnect with their inner child. And collectors have stocked their shelves with vintage Barbies. But mostly, toys have been the domain of children. Thanks to stress, COVID-19, and social media, however, the demographics of play have changed significantly in the past few years. As Richard Gottlieb, CEO of the consulting agency Global Toy Experts, explains, “Toy companies began to say, ‘We’re not in the kids business. We’re in the play business. And anyone can play.’” Read More: Meet Mattel’s Gender-Neutral Doll The pandemic was a boom time for the toy industry in general as people were stuck at home looking for things to do. After decades of single-digit annual growth, sales increased 17% in 2020 and an additional 14% in 2021. A lot of that uptick, says Juli Lennett, vice president and industry adviser for research firm NPD’s U.S. toy division, was in the “kidult” market. Technically, NPD counts anyone over 12 as a kidult, since children tend to lose interest in toys in favor of social media and video games at that age. But toy giants like Lego and Mattel have conducted marketing research that indicates that, yes, grownups are the ones dropping $850 on a 7,541-piece Star Wars Millennium Falcon Lego set or $400 on neon He-Man action figures designed by the artist MADSAKI. An NPD survey found that kidults bought 24% of all toys from June 2021 to June 2022 and represented about two-thirds of dollar growth in the toy market. “The share of toy sales for ages 12 and up has nearly doubled since 2017,” says Lennett. This isn’t some passing pandemic trend. Two years after the initial vaccine rollout, the cloud of gloom and exhaustion that descended upon adults hasn’t fully lifted. And kidults still just want to play. Catharine Parker’s home in Chandler, Ariz., is filled with toys. The 36-year-old physician’s assistant has three children—a 4-year-old and twin 2-year-olds—so piles of stuffed animals are to be expected. But increasingly, the brightly colored rotund plushies in the family’s burgeoning collection of Squishmallows actually belong to Parker. The family collectively owns about 40 of the creatures, and Parker estimates they’ve spent $500 on them. “The sweet spot for us has been an older age than a typical toy consumer,” says Jeremy Padawer, chief brand officer of Jazwares, maker of Squishmallows. “We think the 11-to-22-year-old brings it home. It’s aspirational to the younger kids in the house. Then the parent sees it and goes, ‘Wait, I kind of like this.’” Courtesy of Catharine ParkerCatharine Parker’s Squishmallow collection. The first Squishmallow entered Parker’s home in 2018, when her husband ran to the pharmacy to pick up medicine for their sick baby and threw one in the basket as a get-well gift. Another one arrived as a potty-training reward two years later. When Parker had twins, the Squishmallows proliferated. “I rationalized that they all ‘needed’ a big one to sleep with—we couldn’t leave anyone out,” Parker says. “Suddenly I was laying down on them as well and thinking maybe we could use a few to snuggle for ourselves.” Jellycat, a British brand that makes similar toys, sells not only your typical plush puppies but also cuddly kale leaves, mushrooms, and blue cheese for grownup foodies. “Stuffed animals are kind of like an adult pacifier,” says Lennett. “Adults are going back to their childhoods to forget what’s going on in the world. Maybe it’s the pandemic, maybe it’s politics, maybe it’s war.” Read More: How Cuddly Comfort Objects May Help Adults with Anxiety Cindy Derrow, 56, played with Legos with her kids when they were young but purged her New York City apartment of their toys as they grew up. In April, however, she decided to buy a bouquet from Lego’s Botanical collection. When her husband contracted COVID-19 and had to isolate, Derrow spent her evenings building. “I like things that involve following instructions. I like knitting. I like baking,” she says. “But it’s an expensive habit.” The orchid bouquet retails at $50—one of the cheaper offerings among Lego’s adult-targeted toys—and won the inaugural Grown-Up Toy of the Year prize at the Toy of the Year Awards in February. Derrow is in good company: in February, Rihanna shared a picture on Instagram of a Valentine’s Day gift—a Lego bouquet. It’s a wonder this marketing ploy took so long to arrive. But before adults would openly play with toys, many had to feel that it was socially acceptable to do so. Gottlieb argues that the pandemic hastened a generational shift. There was little time to play with toys during the Depression and World War II, he says, and although baby boomers had more opportunities than previous generations, “they were pushing up against a society that saw play as an indulgence for children.” Video games paved the way for adult play, though for a time gaming was associated with nerds glued to computers in basements. Now geeking out is cool. Fantasy series and superhero movies have come to dominate pop culture; 40-something parents turn on the Xbox to fight zombies after putting the kids to bed. Barry Kudrowitz, a professor of design and merchandising at the University of Minnesota, points to the normalization of mobile games as the moment when adult play stopped being taboo. “We play games on our phones on the train. We still play all the time,” he says. “For our parents, at a certain point they had to stop. It’s not like they could bring Scrabble on the train.” Toy companies have tried to target grownups for decades. In 2002, Lego created a program called Lego Serious Play, to be used by businesses to teach collaboration skills. Google, Procter & Gamble, and Harvard Business School have all participated. And the Danish company has spent the past few years determining how to market to a wider adult audience. “Our Adults Welcome campaign happened to coincide with the timing of the pandemic,” says Cristina Liquori, Lego’s head of U.S. marketing. Ads featuring adults finding zen with Legos aired in the U.S. in 2020. The company debuted a Lego-building competition show hosted by Will Arnett (star of The Lego Batman Movie) the same year. Mattel, too, launched its adult-targeted site during the pandemic by happenstance. It had always planned to debut Mattel Creations for the company’s 75th anniversary, in 2020. Read More: Barbie’s Got a New Body: What That Says About American Beauty Ideals But while pandemic boredom surely gave toy companies a boost, the kidult trend would not have taken off in the same way without social media. Kelly Bigley, a 31-year-old nurse in Olivehurst, Calif., noticed toy-themed videos popping up on TikTok. “I can’t afford to spend $70 on a kids’ toy for 30 minutes of entertainment, but I can binge-watch TikToks,” she says. She began collecting Mini Brands, little $5 balls that contain teeny toy versions of items like shaving cream and soy sauce bottles. “I don’t have the space to display a massive toy ambulance,” she says. “I could create my own little grocery store with these.” Squishmallows launched in 2017 but soared in popularity during the pandemic, when they became a mainstay in dorm rooms, propelled by influencers like Charli D’Amelio, who posted a photo of herself with about 30 of them in February 2021. Posts tagged #Squishmallows have garnered more than 4 billion views on TikTok, and 65% of the people who purchase the toys for themselves are ages 18 to 24. “I can remember a time when having something like a Squishmallow in your college dorm room, you would have to hide it,” says Padawer. “But now we’re in a culture where young people say, ‘This is who I am, and I like who I am, and I’m going to share that with the world.’ ” On TikTok, toys became a way to showcase one’s personality. A cynic might say defining one’s character through tangible things drives consumerism. But Mattel president and COO Richard Dickson argues toys provide much needed distraction. “The adult form of play is really about collectibility and display,” he says. “It’s conversational. It’s art. It’s levity. It’s joy. It’s fun. When you look at the world right now, we need lightheartedness.” Millennials have frequently been labeled immature or stuck in arrested development, preoccupied with totems from their childhood. Every few months a conversation on Twitter flares up criticizing “Disney Adults” who make regular sojourns to Disney World sans children, or the fans who line up at midnight for Marvel movies. Those same critics roll their eyes at the trend of collecting toys. But given that this generation has suffered through two financial collapses, a pandemic, and an ongoing climate crisis, it’s hardly surprising that they find comfort in nostalgic indulgences that hark back to seemingly simpler times. Most of Parker’s friends, in their 30s and 40s, have their own stuffed-animal collections or Legos, even if they don’t have kids. She argues that boomers also collected toys—they just looked different; model trains and baseball cards have been assigned some historic value greater than Squishmallows. Parker chafes at the label kidult, which she feels otherizes people who are just trying to find a bit of joy in dark times: “It feels very contrived.” This holiday season, toy companies are hoping to appear on kidults’ wish lists. Basic Fun is selling $100 Lite-Brite wall art, and Razor is introducing an adult version of its scooter that retails for $600. Lego is egging on adult builders with tweets like “Normalize adults scheduling Lego building play dates.” For now, the adult market continues to thrive. Gottlieb estimates that $2.4 billion worth of toys in the U.S. are sold every year to adults for their own use. A survey conducted last year by the Toy Association found that 58% of parents had bought toys and games for themselves. And after two years of double-digit growth, toy sales have slowed but are still up 3% year-over-year as of September, with the holidays ahead. Photo Illustration by Rich Morgan for TIME A Richard Simmons Funko Pop, a Build-a-Bear “After Dark” stuffed animal, and the Mattel Creations Tesla Cybertruck Companies are betting big on the future of grownup play. A consortium that includes former Disney CEO Bob Iger invested $263 million for a 25% stake in Funko this year, a major infusion for the pop-culture-themed figurines sold primarily to adults; Funko says the average age of its consumer is 36. Meanwhile, Mattel is projecting triple-digit growth for Mattel Creations over the next two years. “I don’t think it’s a trend,” says Dickson. “I think we’ve broken through, and we’re here to stay.” Lennett says, given the volatile economy, it’s hard to predict how sustainable growth in the toy market—let alone the adult sector—will be. And the major players can’t rely on fickle social media algorithms forever. She predicts some adult buyers will move on. “But a lot will stay, especially if the industry can figure out why things go viral, why they connect with this group,” she says. “I think once adults have rediscovered their love of toys, that love doesn’t go away.” Hunting down her favorite Squishmallows reminds Parker of the days when she and her mom would collect Beanie Babies. Parker’s would fill her bedroom, while her mother’s were secreted away in boxes to preserve their resale value. Parker is more lenient about mixing her Squishmallows with her daughters’, but now understands why her own mother kept a stockpile of stuffed animals. “There’s something very satisfying about collecting a whole pile of them and arranging them together like a little dragon’s hoard,” she says. “That comes across as slightly insane, but there’s no other way to put it.” —With reporting by Leslie Dickstein and Julia Zorthian.....»»

Category: topSource: timeNov 17th, 2022

The Metals Company Provides Q3 Corporate Update

NEW YORK, Nov. 14, 2022 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (NASDAQ:TMC) ("TMC" or "the Company"), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the third quarter ending September 30, 2022. Financial Highlights Net loss of $27.9 million and loss per share of $0.12 for the quarter ended September 30, 2022. Total cash on hand of approximately $66.9 million at September 30, 2022. The Company believes that existing cash will be sufficient to fund operations for at least the next twelve months, past the July 2023 date targeted by the International Seabed Authority (ISA) as the date for the final adoption of the exploitation regulations for the industry. Gerard Barron, TMC Chairman and CEO, commented: "It's been a quarter filled with historic achievements for TMC, NORI, and our strategic partner, Allseas. Following the ISA's recommendation to begin pilot nodule collection trials on the NORI-D exploration area in the Clarion Clipperton Zone (CCZ), Allseas commissioned an integrated pilot collection system from the surface production vessel Hidden Gem and we celebrated the first integrated collection and lift of polymetallic nodules in the CCZ since the 1970s. Over the following weeks, Allseas carried out a comprehensive test program driving the pilot collector for over 80 km, collecting 4,500 tonnes of nodules and lifting over 3,000 tonnes to the surface. Critically, this test is a single most important milestone in terms of generating environmental impact data. Before this pilot trial began, 16 offshore campaigns were executed in the NORI area to collect environmental baseline data. During the pilot trials a multidisciplinary team of independent researchers, scientists and contractors were monitoring the environmental impacts of the trials and they will remain onsite until the end of the year to survey the post-trials environment. We look forward to completing this large-scale environmental data collection effort and sharing the data with the global community. I would also like to highlight the important work done in Kingston, Jamaica, where the ISA and its member states continued to make progress on the development of a regulatory framework for the responsible collection of polymetallic nodules. Despite roughly 10 out of 167 ISA Member States calling for a pause on the industry, the vast majority of statements from member states last week expressed continued support for negotiating the draft exploitation regulations in good faith." Operational Highlights Pilot Collection System Trials and Monitoring Campaign: NORI Receives ISA Recommendation to Commence Trials: In September, we announced that the International Seabed Authority (ISA) had completed its review of the Environmental Impact Statement (EIS) and Environmental Monitoring and Management Plan (EMMP) submitted by our subsidiary, NORI, and recommended that it proceed with its forthcoming collector test and monitoring campaign. The conclusion of the ISA's review process allowed NORI to proceed with its planned integrated pilot collection system trials in its NORI-D exploration contract area in the CCZ of the Pacific Ocean.  NORI Collector Test Monitoring: In October, we announced that a multidisciplinary team of independent scientists from leading research institutions around the world and industry-leading contractors commenced the next phase of an extensive environmental baseline and impact monitoring campaign in preparation for NORI's ongoing pilot nodule collection system trials in NORI Area D area of the CCZ. Scientists aboard a dedicated monitoring vessel conducted pre-disturbance monitoring studies on a sub-section of the NORI Area D to establish an environmental baseline before NORI's offshore strategic partner, Allseas, began the integrated collection system test. First Nodules Collected from Seafloor in Historic Trials: In October, we announced the successful collection by Allseas of an initial batch of seafloor polymetallic nodules lifted via riser system to the surface production vessel in what represents the first integrated collection system test conducted in the CCZ since the 1970s. The dedicated team of 130 crew and engineers aboard the Hidden Gem commenced initial nodule collection runs, driving the pilot collector 147 meters in one hour on a pre-determined path and collecting 14 tonnes of nodules, while expert industry contractors and independent scientists continued their complex monitoring program to assess the environmental impacts of the collector system trials using an array of over 50 subsea sensors and monitoring stations. Successful Conclusion of Integrated Pilot Collection System Trial: In November, we announced the conclusion of the NORI's integrated system trial in the NORI-D area in the Clarion Clipperton Zone (CCZ). Pilot collector vehicle drove a distance of over 80 km on the seafloor, collecting approximately 4,500 tonnes of seafloor polymetallic nodules and lifting over 3,000 tonnes of nodules up a 4.3-km riser system to the surface production vessel, Hidden Gem. The Allseas-designed and tested pilot nodule collection system — which will be scaled to include additional collector heads and a wider diameter riser pipe in preparation for NORI's Project Zero — achieved a maximum sustained production rate of 86.4 tons per hour. New NORI Project Director: In October, we announced the appointment of Grant Lindner as Project Director for NORI, as we look to commercialize our first polymetallic nodule project in the NORI Area D. Grant has delivered over $26 billion in project value during his 25-year career at Bechtel Group and BHP, holding senior executive roles for large-scale mining, smelter and refinery, material handling and marine projects. He will play a key role in advancing all areas of the NORI Area D project including the submission of the Environmental Impact Assessment and exploitation application to the ISA, and the safe delivery of offshore and onshore development plans. TMC also announced that CDO Anthony O'Sullivan had resigned as of 14 October 2022 for personal and health reasons, though he will remain in the position through a twelve-month transition period. Innovative Agreement with UAW: In September, we announced that we had entered into a labor neutrality agreement with the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) to bolster the critical mineral supply chain and which we believe lays the groundwork for sustainable production of electric car batteries while also creates a path to potential job growth in the United States.   Board and committee changes: In October, we announced that Andrew C. Greig had been appointed to its Board as an Independent Director. Andy joined the Board as a director on 29 September 2022 and replaced outgoing director Gina Stryker. Andy brings extensive experience working on international construction projects in the mining sector during a 35-year career at leading engineering, procurement and construction company, Bechtel Group. On November 10, 2022, Mr. Greig was appointed to the Compensation Committee and on November 11, 2022, he was appointed as Lead Independent Director, replacing Andrew Hall. Mr. Hall will remain on the Board of Directors, including as a member of the Audit Committee. Also in October, Ms Sheila Khama was appointed to the Audit Committee. Industry Update 27th Session (Part III) of the International Seabed Authority (ISA): The ISA continues to work to finalize regulations regarding exploitation of deep-sea minerals. An ISA working session took place from 31 October to 11 November 2022 in person in Kingston, Jamaica where the regulator continued its development of the exploitation regulations and committed to continue work on the regulations inter-sessionally. The ISA Council is expected to meet in March 2023 and July 2023, along with intersessional working groups in order to complete their drafting of the exploitation regulations. New MIT/Scripps plume study finds 92-98% of seafloor plume remains less than 2m above seafloor: In September, a new peer-reviewed study was published by researchers at MIT and Scripps Institute of Oceanography based on actual field trials by the ISA contractor GSR (Belgium). The study found that, on flat terrain, 92-98% of sediment was deposited locally and remained in suspension below 2m. Financial Results Overview At September 30, 2022, TMC held cash of $66.9 million and held no debt. TMC reported a net loss for the third quarter of 2022 of $27.9 million, or $0.12 per share, compared to TMC's net loss of $36.6 million, or $0.18 per share, for the third quarter of 2021. The net loss for the third quarter of 2022 included exploration and evaluation expenses of $22.7 million (Q3 2021: $23.8 million), general and administrative expenses of $5.9 million (Q3 2021: $13.3 million), partially offset by a decrease in the value of our warrants of $0.4 million. Exploration and evaluation expenses decreased in the third quarter of 2022 compared to the same period in 2021, as a result of a decrease in offshore environmental campaign activity following the completion of NORI Area D environmental baseline campaigns in the fourth quarter of 2021, a decrease in share-based compensation which was offset by an increase in the expenses incurred on the trials of the pilot mining test system, in support of NORI's expected application to the ISA for an exploitation contract. General and administrative expenses decreased in the third quarter of 2022 compared to the third quarter of 2021, reflecting a reduction in share-based compensation, and a reduction in consulting, communication and advertising costs expenses, as these expenses were higher in the 2021 period related to the business combination and listing of the Company on NASDAQ. The decreased costs in the third quarter of 2022 was partially offset by higher personnel, legal and other expenses associated with being a public company. Conference CallTMC will hold a conference call tomorrow at 4:30 p.m. ET to provide an update on recent corporate developments, third quarter financial results and upcoming milestones. Third Quarter 2022 Conference Call Details Date: Tuesday, November 15 2022 Time: 4:30 p.m. ET Audio-only Dial-in: Register Here Virtual webcast with slides: Register Here Please register with the links above at least ten minutes prior to the conference call. The virtual webcast will be available for replay in the ‘Investors' tab of the Company's website under ‘Investors' > ‘Media' > ‘Events and Presentations', approximately two hours after the event. About The Metals CompanyThe Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.More information is available at www.metals.co. More Info Media | media@metals.co  Investors | investors@metals.co Forward Looking StatementsCertain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including related to TMC's current expectations and projections relating to its financial condition and business outlook, how long TMC's cash will fund operations, , and TMC's system tests, including the timing thereof and the timing and content of environmental and operational assessments. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: TMC's strategies and future financial performance, including its future business plans or objectives;  TMC's ability to submit an application for and obtain exploitation contracts for its areas in the CCZ from the ISA; regulatory uncertainties and the impact of government regulation and political instability on TMC's resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC's operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC's ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collective, development and processing operations, including with respect to the proposed plant in India and Allseas' expected development efforts; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with TMC's limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC's intellectual property; and other risks and uncertainties, including those under Item 1A "Risk Factors" in TMC's Annual Report on Form 10-K for the year ended December 31, 2021, filed by TMC with the Securities and Exchange Commission ("SEC") on March 25, 2022, and in TMC's other future filings with the SEC, including TMC's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed by TMC with the SEC on August 15, 2022 and TMC's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 when filed with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law. FINANCIAL INFORMATION TMC the metals company Inc.   Condensed Consolidated Balance Sheets(in thousands of US Dollars, except share amounts)(Unaudited)                    ASSETS       As atSeptember 30,2022 As atDecember 31,2021 Current           Cash       $ 66,872   $ 84,873   Receivables and prepayments         5,037     3,686             71,909     88,559   Non-current           Exploration contracts         43,150     43,150   Equipment         2,098     1,416             45,248     44,566               TOTAL ASSETS       $ 117,157   $ 133,125               LIABILITIES           Current           Accounts payable and accrued liabilities         25,188     26,573             25,188     26,573   Non-current           Deferred tax liability         10,675     10,675   Warrants liability         2,234     3,126   TOTAL LIABILITIES       $ 38,097   $ 40,374               EQUITY           Common shares (unlimited shares, no par value – issued: 265,529,989 (December 31, 2021 – 225,432,493))         328,911     296,051   Class A - J Special Shares         -     -   Additional paid in capital         116,917     102,073   Accumulated other comprehensive loss         (1,216 )   (1,216 ) Deficit         (365,552 )   (304,157 ) TOTAL EQUITY         79,060     92,751               TOTAL LIABILITIES AND EQUITY       $ 117,157   $ 133,125   TMC the metals company Inc.   Condensed Consolidated Statements of Loss and Comprehensive Loss(in thousands of US Dollars, except share and per share amounts)(Unaudited)         Three months ended September 30,     Nine months ended September 30,             2022     2021     2022   2021 (Restated1)                   Operating expenses               Exploration and evaluation expenses       $ 22,663   $ 23,848   $ 40,340   $ 80,181   General and administrative expenses         5,944     13,334     22,502     41,138   Operating loss         28,607     37,182     62,842     121,319                   Other items               Change in fair value of warrant liability         (350 )   (878.....»»

Category: earningsSource: benzingaNov 14th, 2022