Advertisements


Orlando International Airport to host job fair this week

Several companies are seeking to fill myriad positions at the air hub, as well as for the downtown executive airport......»»

Category: topSource: bizjournalsMay 17th, 2021

Orlando International Airport to host job fair this week

Several companies are seeking to fill myriad positions at the air hub, as well as for the downtown executive airport......»»

Category: topSource: bizjournalsMay 17th, 2021

Westlake Chemical (WLK) is a Top-Ranked Momentum Stock: Should You Buy?

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service. For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.The Style Scores are broken down into four categories:Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.How Style Scores Work with the Zacks RankA proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.That's where the Style Scores come in.To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.Stock to Watch: Westlake Chemical (WLK)Houston, TX-based Westlake Chemical Corporation is a vertically integrated international producer and supplier of petrochemicals, polymers and building products. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components. The company utilizes most of its internally-produced basic chemicals to make higher value-added chemicals and building products.WLK is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.Momentum investors should take note of this Basic Materials stock. WLK has a Momentum Style Score of A, and shares are up 1.9% over the past four weeks.For fiscal 2021, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $2.39 to $12.50 per share. WLK boasts an average earnings surprise of 21.1%.With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, WLK should be on investors' short list. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Westlake Chemical Corporation (WLK): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 24th, 2021

Scholastic Reports Fiscal 2022 First Quarter Results

NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Scholastic Corporation (NASDAQ:SCHL), the global children's publishing, education and media company, today reported financial results for the Company's fiscal first quarter ended August 31, 2021. Scholastic typically reports an operating loss and high cash utilization in its first fiscal quarter when most U.S. schools are not in session, however the Company recorded positive net operating cash flow in the current quarter. Fiscal First Quarter 2022 Review (In $ Millions) First Quarter $ % Fiscal 2022 Fiscal 2021 Change Change Revenues $ 259.8 $ 215.2 $ 44.6 21 % Operating income (loss) $ (32.0) $ (57.0) $ 25.0 44 % One-time items (4.2) 12.0 Operating income (loss), ex. one-time items* $ (36.2) $ (45.0) * Please refer to the non-GAAP financial tables attached Company Commentary "We executed successfully against our annual operating plan in the first fiscal quarter of 2022, leveraging the momentum and strong results achieved in the last three months of the prior fiscal year, with our strategic growth platforms in Trade and Education Solutions performing ahead of plan," said Peter Warwick, President and Chief Executive Officer. "Although the first quarter is typically a quiet quarter with most schools closed for summer recess, all of the Company's major domestic businesses realized solid double-digit top-line growth year-over-year, while the international businesses, primarily Australia and New Zealand, were adversely affected by new COVID restrictions." "We are seeing increased bookings of our premium case book fairs when compared to both prior year and this past spring season. Although still well below pre-COVID levels, the current back-to-school period looks favorable as students return to in-classroom instruction this fall. With schools re-opening their doors, we also saw higher sales of both curriculum and supplemental reading materials, such as our classroom libraries and leveled bookrooms. Subscriptions to the Company's education digital programs, including BookFlix®, Scholastic Literacy Pro®, and Scholastic F.I.R.S.T.® also continued to grow in the period. In trade publishing, we ended the quarter with 16 of the top 25 children's fiction books on the Publishers' Weekly Bestseller List — a testament to the deep commitment we have to creating titles and series that resonate with children and parents from all backgrounds and with varied interests. And, we are excited about our new fall frontlist that includes Cat Kid Comic Club®: Perspectives, the second title in the bestselling series by Dav Pilkey, as well as J.K. Rowling's The Christmas Pig." Mr. Warwick concluded, "We remain optimistic for continued growth through the post-COVID recovery and expect strong operating leverage and free cash flow generation given the success of our recent cost savings initiatives and solid execution, even as we are seeing inflationary pressures in our supply chain and labor pools. I am confident that we remain on a path to generate sustainable value for all of our stakeholders in the current fiscal year and beyond." Revenues Consolidated revenues increased 21% to $259.8 million in the first quarter versus the prior year period, primarily driven by the U.S. trade and education channels. Trade publishing revenues grew on the strength of the Company's series publishing and strong backlist titles. Higher sales in the education channels were driven by the Company's new early childhood program, PreK On My Way™, and summer learning product offerings bolstered by federal government funding for K-12 schools in the U.S. Partially offsetting the revenue improvements was a reduction in sales in the International segment as certain countries around the world continue to struggle with the pandemic-related disruptions in their local markets.  Operating Profit / Loss First quarter operating loss improved 44% to $32.0 million versus the prior year period. The first quarter's improved operating loss was directly attributable to the higher sales volume as the Company is beginning to recover from the pandemic, coupled with the continued benefits of the restructuring program executed in the prior fiscal year, as well as the proceeds from first tier insurance coverage related to the settlement of an intellectual property legal matter, partially offset by the prior period employee furlough and reduced work week programs which did not reoccur in the current period. Excluding one-time items in both periods, the Company had operating loss of $36.2 million in the first quarter of 2022, versus $45.0 million in the first quarter of 2021. Capital Position and Liquidity Net cash provided by operating activities was $63.6 million in the first quarter compared to net cash used in operating activities of $26.0 million in the prior year period, an increase of $89.6 million. The Company had free cash flow (a non-GAAP liquidity measure defined in the accompanying tables and reconciled to net cash provided) of $49.1 million in the first quarter compared to a free cash use of $34.9 million in the prior year period. As of August 31, 2021, the Company's cash and cash equivalents exceeded total debt by $219.1 million, compared to $135.6 million a year ago. The higher net cash position and the $84.0 million increase in free cash flow was primarily driven by the receipt of a $63.1 million federal income tax refund, higher customer remittances, and a $6.6 million insurance reimbursement related to the settlement of an intellectual property matter. The $20.0 million settlement was accrued for in the prior fiscal year and paid in September 2021. The Company is still in the process of filing claims with secondary and tertiary insurance carriers for the remaining settlement amount. During the quarter, the Company paid down $100.0 million of the outstanding borrowings under its domestic revolving credit facility, resulting in $75.0 million in outstanding revolving credit loans at quarter-end. The Company will continue to evaluate its borrowing position and capital allocations based on the performance of the school-based channels during the course of the current fiscal year.  The Company is also in dialogue with its banks on the renewal of its multi-year domestic committed credit facility, which is scheduled to mature on January 5, 2022. Overall Results In $ millions First Quarter Fiscal 2022 Fiscal 2021 Earnings (loss) before taxes $ (33.3) $ (51.8) One-time items* (4.2) 12.0 Earnings (loss) ex. one-times $ (37.5) $ (39.8) Interest (income) expense 1.3 1.2 Depreciation and amortization 16.4 16.4 Prepublication amortization 6.8 6.3 Adjusted EBITDA* $ (13.0) $ (15.9) * Please refer to the non-GAAP financial tables attached Loss before taxes for the first quarter was $33.3 million, compared to a loss before taxes of $51.8 million in the prior year period, an $18.5 million improvement. Adjusted EBITDA (a non-GAAP performance measure defined in the accompanying tables and reconciled to earnings (loss) before taxes) for the first quarter was a loss of $13.0 million, compared to a loss of $15.9 million in the prior year period. Adjusted EBITDA improved over the prior period due to the increase in revenues, which was partially offset by a $6.6 million benefit from the sale of the Danbury, CT facility in the prior year period. Fiscal 2022 Outlook  The Company is currently experiencing strong demand for its products and programs as schools begin to re-open this fall with rising book club sponsorship and increased book fair bookings and expects  sequential improvements in its school-based distribution channels in each quarter of the current fiscal year. The Company is well-positioned to meet expected demand in these channels, especially in its book fairs businesses in the U.S., Canada and UK. Scholastic's properties and titles continue to lead the market and occupy spots on the New York Times bestsellers list and are being leveraged for streaming services such as the recent announcement of Puppy Place, a live-action series based on the Company's best-selling books, premiering on October 15th on AppleTV+. In the education solutions channel, the Company continues to closely monitor how federal stimulus funds will impact the overall K‒12 education landscape and expects to benefit from a portion of this new spending. Internationally, the Company expects the lockdowns in Australia to lift and continues to explore growth through the expansion of Scholastic's range of English language learning digital product offerings in Asia. The Company faces certain headwinds in fiscal 2022 with higher labor costs, the discontinuation of certain COVID-related government subsidies and inflationary pressures that could impact paper, freight and other operating costs. Supply chain issues and potential labor shortages could adversely impact operating income through higher costs and/or revenue shortfalls. The Company is taking actions, when available, to help mitigate these potential increases and still expects stronger operating leverage and positive free cash flows. Additionally, the Company continues to identify further opportunities for incremental cost savings through process improvements and automation, consolidation of functions, and increased utilization of the Company's international shared services resources. Segment Results All comparisons detailed in this section refer to operating results for the first quarter ended August 31, 2021 versus the first quarter ended August 31, 2020.  Children's Book Publishing and Distribution (CBP&D) In $ millions First Quarter $ % Fiscal 2022 Fiscal 2021 Change Change Revenues Books Clubs $ 6.8 $ 5.8 $ 1.0 17 % Book Fairs 16.0 13.2 2.8 21 % Trade 93.0 73.3 19.7 27 % Total Revenue $ 115.8 $ 92.3 $ 23.5 25 % Operating income (loss) (21.7) (29.0) 7.3 25 % Operating income (loss) ex. one-time items* (21.7) (29.0) * Please refer to the non-GAAP financial tables attached First quarter segment revenues were $115.8 million, an increase of $23.5 million, or 25%, versus the prior year period primarily driven by trade channel sales. Marketing and publicity activities drove higher sales of Harry Potter® box sets and limited edition foil covers for Dog Man®. New releases from the Company's popular series, The Baby-sitters Club® Graphix™ and Baby-sitters Little Sisters® Graphix, Five Nights at Freddy's™, The Bad Guys™, and Nat Enough™ coupled with the continued success of Alan Gratz's Refugee and Ground Zero and Pam Munoz Ryan's Esperanza Rising also resulted in increased sales. The Company's specialty products performed well both from the Klutz® division and the Make Believe Ideas™ business, which included the launch of a plush product line, Sensory Snuggables™. The fully illustrated MinaLima edition of Harry Potter continued to perform well with the second book to be released at the end of October and The Official Harry Potter Baking book was a bestseller. While the first quarter is not traditionally a significant quarter for the Company's school-based distribution channels, the book clubs channel experienced an increase in the number of teacher sponsors and the book fairs channel had higher revenue per fair when compared to the prior period. Education Solutions In $ millions First Quarter $ % Fiscal 2022 Fiscal 2021 Change Change Revenue $ 80.1 $ 53.6 $ 26.5 49 % Operating income (loss) 7.3 (2.4) 9.7 NM Operating income (loss) ex. one-time items* 7.3 (2.4) * Please refer to the non-GAAP financial tables attached NM - Not meaningful First quarter segment revenues were $80.1 million, an increase of $26.5 million, or 49%, versus the prior year period. Demand for the Company's summer learning product offerings drove an increase in revenues as educators tried to help students recover lost ground before starting the new school year. In addition, the Company experienced higher sales for its supplemental and core instruction products, especially in the new early childhood program, PreK On My Way, as more schools began to open for in-classroom learning. Digital product subscriptions increased when compared to the prior year period, continuing to support the trend digital solutions will play in the education market. Although not yet at pre-COVID levels, the Company's classroom magazine products experienced improvement with a 13% increase in subscriptions which will benefit the Company in future quarters. The first quarter was also positively impacted by the consolidation of the multiple education channels into a single Education Solutions segment allowing the Company to be well positioned to meet the needs of an ever changing market. International In $ millions First Quarter $ % Fiscal 2022 Fiscal 2021 Change Change Revenue $ 63.9 $ 69.3 $ (5.4) (8) % Operating income (loss) (1.7) 4.8 (6.5).....»»

Category: earningsSource: benzingaSep 23rd, 2021

Top Democrats compare Biden to Trump over the Haitian migrant crisis, as the GOP falsely accuses him of allowing open borders

The Biden administration has continued to use a Trump era public health law known as Title 42 to expel migrants. CIUDAD ACUNA, MEXICO - SEPTEMBER 20: Haitian immigrants cross the Rio Grande back into Mexico from Del Rio, Texas on September 20, 2021 to Ciudad Acuna, Mexico. As U.S. immigration authorities began deporting immigrants back to Haiti from Del Rio, thousands more waited in a camp under an international bridge in Del Rio while others crossed the river back into Mexico to avoid deportation. John Moore/Getty Images Biden is facing rampant criticism over an evolving crisis involving Haitian migrants at the border. Republicans are falsely accusing Biden of allowing open borders. Top Democrats and activists are comparing Biden to Trump as he moves to deport thousands. See more stories on Insider's business page. The Biden administration is facing criticism from all angles over its handling of an influx of Haitian migrants at the US-Mexico border.Republicans baselessly accuse President Joe Biden of opening America's borders to immigrants. Meanwhile, as Biden moves to deport thousands of Haitians, top Democrats and activists are comparing his immigration policy to former President Donald Trump's. "Joe Biden is presiding over lawless open borders," GOP Sen. Ted Cruz of Texas said in a tweet earlier this week, even as the administration began actively deporting Haitian migrants who've fled violence, poverty, and political turmoil."There is a growing crisis in Del Rio, Texas and across the southern border. Biden's open borders policies created this mess," the Republican National Committee tweeted on Thursday. Seemingly regardless of what Biden does on immigration, Republicans and their right-wing media allies continue to falsely accuse him of opening America's doors to anyone and everyone. "You've got to ask yourself, as you watch the historic tragedy that is Joe Biden's immigration policy, what's the point of this? Nothing about it is an accident, obviously. It is intentional. Biden did it on purpose. But why? Why would a president do this to his own country? No sane, first-world nation opens its borders to the world," Fox News host Tucker Carlson said on his show on Wednesday, while peddling the white supremacist "Great Replacement" conspiracy theory.-nikki mccann ramírez (@NikkiMcR) September 23, 2021 The GOP's primary talking point on immigration has been that Biden's desire to offer a pathway to citizenship to roughly 11 million undocumented immigrants has induced a crisis at the border. "As tens of thousands of illegal immigrants come across the border, Joe Biden promises them citizenship," GOP Sen. Tom Cotton of Arkansas tweeted last on Friday. "He's making this crisis much worse."But as Biden uses a Trump era rule to deport Haitians, his allies are accusing him of reneging on his pledge to take a more humane approach to immigration than his predecessor. Democrats and activists compare Biden to Trump"The question that's being asked now is: How are you actually different than Trump?" Marisa Franco, the executive director of the Latino civil rights organization Mijente, told the New York Times. "You campaigned that immigration was one of the places where Trump was inhumane and failed. And last time I checked, Trump is not the president."The Biden administration has continued to use a Trump era public health policy, a law known as Title 42, to expel migrants and deny them an opportunity to apply for asylum - and it's defended the law in court. The Trump administration began invoking the law in March 2020, as the COVID-19 pandemic began to spiral out of control (and as Trump simultaneously downplayed the threat of the virus). A New York Times review of government data found that officials caught people crossing the southwestern border roughly 1.24 million times from February to August, and Title 42 was used to turn them away 56% of the time.Democrats like Senate Majority Leader Chuck Schumer have called on Biden to halt expulsions and end the use of Title 42."I urge President Biden and Secretary Mayorkas to immediately put a stop to these expulsions and to end this Title 42 policy at our southern border," Schumer said. "We cannot continue these hateful and xenophobic Trump policies that disregard our refugee laws. We must allow asylum seekers to present their claims at our ports of entry and be afforded due process."-CSPAN (@cspan) September 21, 2021"Haitians fleeing violence & the lack of a credible government in Haiti are being treated like animals," Democratic Rep. Maxine Waters of California said in a tweet on Tuesday. "U.S. government cowboys on horses used whips on Haitians as they sought refuge. Why are we following the Trump policies? This horrendous treatment of Haitians must STOP NOW."Democratic Rep. Alexandria Ocasio-Cortez, one of the most prominent progressives in Congress, in a tweet described the situation at the border as a "stain on our country."The White House this week fervently decried images of Border Patrol agents on horseback whipping at Haitian migrants."What I saw depicted about those individuals on horseback treating human beings the way they were, was horrible. And I fully support what is happening right now, which is a thorough investigation into exactly what is going on there," Vice President Kamala Harris said on Tuesday.But the administration's words have seemingly been insufficient to top civil rights organizations."The humanitarian crisis happening under this administration on the southern border disgustingly mirrors some of the darkest moments in America's history," Derrick Johnson, the president of the NAACP, said in a statement. "If we were to close our eyes and this was occurring under the Trump administration, what would we do? The inhumane treatment of the Haitian refugees seeking help is utterly sickening." A United States Border Patrol agent on horseback tries to stop a Haitian migrant from entering an encampment on the banks of the Rio Grande near the Acuna Del Rio International Bridge in Del Rio, Texas on September 19, 2021. Paul Ratje/Getty Images 'Inhumane, counterproductive'Thousands of Haitian migrants have crossed the border in recent weeks, gathering in a makeshift camp in terrible conditions under a bridge in Del Rio, Texas. Haiti's president was assassinated in July, launching the already embattled country into further turmoil. Its capital, Port-au-Prince, is overrun by violent gangs. And the country is also still reeling from a devastating earthquake that killed over 2,000 in August. But the Biden administration has been adamant that Haitians, and other migrants, should not come to the US. "If you come to the United States illegally, you will be returned," Homeland Security chief Alejandro Mayorkas said earlier this week.Deportation flights to Haiti began on Sunday. As a result of the Biden administration's approach to the massive influx of Haitian migrants, the US special envoy to Haiti resigned. Ambassador Daniel Foote, a career diplomat, wrote to Secretary of State Antony Blinken and said he won't be associated with the US's "inhumane, counterproductive decision to deport thousands of Haitian refugees and illegal immigrants to Haiti, a country where American officials are confined to secure compounds because of the danger posed by armed gangs in control of daily life."The evolving crisis at the border comes on the heels of the Afghanistan withdrawal, which also led to widespread, bipartisan criticism.Read the original article on Business Insider.....»»

Category: smallbizSource: nytSep 23rd, 2021

China Syndrome? Is Evergrande A Symptom Of Deeper Malaise

China Syndrome? Is Evergrande A Symptom Of Deeper Malaise Authored by Bill Blain via MorningPorridge.com, “If that’s true, we are very close to the China Syndrome ” Evergrande’s imminent default is rocking markets – but few believe the collapse of a Chinese property developer could trigger a global financial crisis. What if Evergrande is just a symptom of a deeper malaise within the Chinese economy and its political/business structures? Maybe there is more at stake than we realise? What if Emperor Xi decides he needs a distraction? Amid this week's market turbulence, and the overnight headlines, Evergrande dominates thinking this morning. The early headlines say the risk is “easing”. Don’t be fooled. S&P are on the wires saying it’s on the brink of default and is unlikely to get govt support. It’s Asia’s largest junk-bond issuer. Anyone for the last few choc-ices then? The market view on the coming Evergrande “event” is mixed. Some analysts are dismissing it as an internal “China event”, others reckon there may be some systemic risk but one Government can easily address. There is some speculation about “lessons” to be learnt… There are even China supporters who reckon its proof of robust China capitalism – the right to fail is a positive! I’ve got a darker perspective. The massive shifts we’ve seen in China’s political/business public persona over the past few years have been variously ascribed: a reaction to Trump’s protectionism, China taking its place as a leading nation, Xi flexing his military muscle, and now a clampdown on divisive wealthy businesses to promote common prosperity. What if Evergrande is just a symptom of something much deeper? That that last 30-years of runaway Chinese growth has resulted in a deepening internal crisis, one that we barely perceive in the west? What if the excesses that have spawned Evergrande and the illusion every Chinese can afford luxury flats and a western standard of living is about to implode? Crashing oriental minor chords! The looming Chinese property debacle will be fascinating, but it many respects will be similar and yet very different to the multiple market unwinds we’ve seen in the west. How it plays out will have all kinds of implications for growth, speculation and how global investors perceive China in the future. Folk are variously describing it as China’s Lehman Brothers, or the next “Minsky Moment” when speculation ends with a sharp jab of reality to the kidneys. I’m thinking back to a story I read a few years ago about the Shanghai Auto-fair pre-pandemic. Evergrande New Electric Vehicles had the largest stand and was showing off 11 different EVs. Not one of these were actually available to buy – they were all models of as-yet unproduced cars. The company was valued at billions and yet never sold a single vehicle. This morning, it’s just another worthless business Evergrande is trying to flog. (See this story on Bloomberg TV: China’s Zombie EV Makers.) The market is asking itself a host of questions about Evergrande’s collapse: How bad will its tsunami of Chinese contagion deluge global markets? When it’s going to happen? What knock-on effects will cascade through markets? Perhaps the most important question is: Who will be exposed “swimming naked” when the Evergrande tide goes out? Who will be left with the biggest losses? As the company is definitely bust, these losses rather depend on just how China’s authorities respond. Step back and think about it a moment – try putting these in context: Fundamentally all business is about identifying a consumer need and filling it. Fundamentally, greedy businessmen tend to get carried away because the political-financial system enables them. Fundamentally, it’s just another burst bubble and who cleans up the mess. In Evergrande’s case a thousand flowers of capitalism with Chinese characteristics grew into an unsustainable business – fundamentally no different from debt-fuelled sub-prime mortgages, or CDOs cubed, in the West. The big difference this time is its China! China has done things… differently. The path China pursued in its recovery and growth since 1980 has not been without… consequences. Thus far we’ve praised China for its spectacular growth and the creation of valuable companies under the red banner of Chinese capitalism. It is going to be “interesting” to see how the subsequent mess is cleared out. Questions about Moral Hazard are going to be shockingly simple – Government has made it abundantly clear that any wrongdoing by company executives will be punished in the harshest possible way. More importantly, Chinese politics and business works on a very different playing field to the west. Forget the rule of law or the T&C’s of Evergrande bonds. It easy to dismiss and characterise the way Chinese business works as institutionalised systemic corruption – but it’s a system Ancient Roman Emperors would recognise as a patron/client relationship. Emperor Xi’s clients and his princelings will continue to benefit from his patronage in return for their support at his court, and will be protected in a meltdown. The system Xi presides over will have little motivation to intervene to protect western investors who find themselves caught in the Evergrande fiasco. Where Xi will have to take notice is outside the rich, wealthy princeling cadre which increasingly owns and runs China. There will be massive implications for wealth/inequality among the Chinese people from a property collapse. With a third of Chinese GDP dependent on the property sector, (and about 4 million jobs at Evergrande), the collapse of one of the biggest players, and the likelihood others will follow is much more than just a systemic risk. Property is a key metric in the aspirations to wealth of the rising Chinese middle classes. The same smaller Chinese investors and savers will likely prove the largest losers from the property investment schemes they were sucked into. These real losses will rise if hidden bank exposures trigger a domestic banking crisis – which apparently isn’t likely (meaning it is..). There are reports of investor protests in key China cities – putting pressure on the govt to act to mitigate personal losses. Xi’s clampdown on big tech is painted as the Party’s programme to engineer a more socially-equal economy. He has pinned the blame for rising inequality on “corrupt” business practices and has his cadre’s waving books on Xi thought, mouthing slogans about “common prosperity” and “frugality”. These are going to look increasingly hollow if the middle classes bear the coming Evergrande pain, and the Party Princelings continue to prosper. The really big risk in China is not that Evergrande is going to default – it’s much bigger. If the Party is seen to fail in its promise to deliver wealth, jobs and prosperity for the masses – then that is very serious. China’s host of failed EV companies, an economy still reliant on exporting other nations tech, and a massively overvalued property sector (that the masses still equate with prosperity) all suggest a much less solid economy than the Party promotes. If the illusion of a strong economy is unravelling – who knows what happens next, but in Ancient Rome the answer would be simple… Blame someone else, and invade.. This could get very “interesting…” and not in a good way. Tyler Durden Wed, 09/22/2021 - 08:45.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Biden risks killing more civilians with drone strikes in Afghanistan as part of his "over-the-horizon" strategy, experts warn

Without a robust intelligence network on the ground, it's difficult for the US to know who it's targeting with drone strikes. Ajmal Ahmadi, weeps alone in a room after members of his family were killed on Sunday, in an American drone strike that targeted and hit a vehicle in their home in Kabul, Afghanistan, Monday, Aug. 30, 2021. Marcus Yam/Getty Images Biden's "over-the-horizon" strategy could lead to more civilian deaths in Afghanistan, experts warn. Without a robust intelligence network on the ground, it's difficult for the US to know who it's targeting. An August 29 drone strike in Kabul killed 10 Afghan civilians, including seven children. See more stories on Insider's business page. A US drone strike in Kabul on August 29 killed 10 civilians, including an aid worker and seven children. It was not an isolated incident. Drone strikes conducted by the US, in Afghanistan and beyond, have often resulted in civilian casualties.The Biden administration last week apologized for the strike, pledging to take steps to prevent similar incidents from occurring in the future.President Joe Biden has vowed to continue going after ISIS-K in Afghanistan via an "over-the-horizon" approach, which essentially involves conducting operations or strikes without boots on the ground. The White House on Monday signaled that he remains undeterred in this regard despite the controversy over the August 29 strike. "The President's desire to continue to go after ISIS-K has not changed," White House press secretary Jen Psaki said.But Biden's strategy could result in even more civilian deaths moving forward and is likely illegal, experts warn. "I'm definitely concerned that the Biden administration's 'over-the-horizon' approach will result in more civilian casualties, because the accuracy of drone strikes depends heavily on the quality of intelligence, and if the US does not have an actual presence in Afghanistan, it's hard to see how it can determine whether the information it's getting from any supposed partners on the ground is reliable," Daphne Eviatar, Amnesty International USA's director of Security With Human Rights, told Insider.'Strikes are only as accurate as the targeting intelligence' Relatives and neighbors of the Ahmadi family gathered around the incinerated husk of a vehicle targeted and hit earlier Sunday afternoon by an American drone strike, in Kabul, Afghanistan, Monday, Aug. 30, 2021. Marcus Yam/Getty Images The drone strike on August 29 came after an ISIS-K attack near the Kabul airport, which killed 13 US service members and 169 Afghans. The US military initially offered a full-throated defense of the drone attack, calling it a "righteous strike." The US thought it was targeting a car packed with explosives for another ISIS-K attack. But a report from the New York Times revealed that the military actually launched the strike at a vehicle that an aid worker, Zemari Ahmadi, was filling with water containers for his home. "Drone strikes create the illusion that there's some sort of high tech, antiseptic, risk-free way to use force, but no matter how fancy the technology is, such strikes are only as accurate as the targeting intelligence," Rosa Brooks, a professor of law and policy at Georgetown University, told Insider. "The tragic results of the strike that followed the Kabul airport attack is a case in point: precision targeting technologies count for nothing if you have bad intel."Brooks, who also served as counselor to undersecretary of defense for policy Michele Flournoy from 2009 to 2011, added that having assets on the ground is also not necessarily "sufficient to prevent mistakes." Local informants can be wrong and even lie at times, Brooks said, and we've seen "plenty of drone-strikes-gone-wrong in places and time periods in which we did have assets on the ground."To this point, it's estimated US drone strikes have killed between 4,126 to 10,076 people in Afghanistan since January 2004, including between 300 to 909 civilians, according to the Bureau of Investigative Journalism, a UK-based organization that has tracked US drone strikes for years.Not having troops in the country does not necessarily mean the US has no intel or resources in Afghanistan, Brooks went on to say, but the withdrawal has made it "even more difficult to get good ground level intelligence." Complicating the matter is the fact that ISIS-K is a decentralized group that's made up of semi-autonomous cells, making it harder to track. The US pullout from Afghanistan has "decimated" its intelligence network in the country, Charles Lister, a senior fellow and the director of the Syria and counterterrorism programs at the Middle East Institute, told Insider last month."The dispersed and cellular challenge like ISIS-K requires constant air surveillance and an extensive and ground force effort - and that really is beyond the realm of reality now," Lister added.'It will be virtually impossible to use drone strikes legally' Mechanics trail an MQ-9 Reaper as it taxis for takeoff August 8, 2007 at Creech Air Force Base in Indian Springs, Nevada. The Reaper is the Air Force's first "hunter-killer" unmanned aerial vehicle (UAV), designed to engage time-sensitive targets on the battlefield as well as provide intelligence and surveillance. The jet-fighter sized Reapers are 36 feet long with 66-foot wingspans and can fly for up to 14 hours fully loaded with laser-guided bombs and air-to-ground missiles. Photo by Ethan Miller/Getty Images The use of drones by the US in counterterrorism operations dates back to the earliest days of the war on terror, and the practice has consistently raised myriad ethical and legal questions. Similarly, experts are expressing serious concerns about the legality over-the-horizon approach . "Not only do remote pilots have only a vague idea in most cases who they are killing, now that the war is over in Afghanistan, it will be virtually impossible to use drone strikes legally," Mary Ellen O'Connell, Notre Dame Law School professor and expert on international law in relation to the use of force, told Insider."During on-going armed conflict hostilities, target selection could be made based on who was fighting against US and allied forces," O'Connell added. "Going forward, everyone has the presumption of civilian status and cannot be summarily killed with a drone strikes."Along these lines, Eviatar questioned what authorization the US has to use lethal force unless the strike is in response to an actual imminent threat to human life, which "will be difficult to determine from 'over the horizon.'"Such concerns underscore the need for greater transparency from the government when it comes to drone strikes, Brooks said. "There will always be disagreement about what level of inadvertent civilians casualties - if any - is 'too much,' but without transparency we can't even begin to have that discussion, and without accountability our conclusions won't change anything," Brooks said. If reporting from the Times and other outlets like the Washington Post hadn't undermined the US military's narrative on the strike in such glaring ways, it's an open question as to whether the Pentagon would've admitted that the drone attack killed civilians. Drone strikes, which the US has conducted everywhere from Somalia to Yemen, tend to occur in remote areas and far from reporters or watchdogs. This has opened the door for the Pentagon to be opaque about the bombings and their consequences."In the past, the US has often refused to admit that the victims were civilians, even when confronted with detailed evidence from groups like Amnesty International and others demonstrating the victims' civilian status," Eviatar said. "And the US has almost never provided reparations or any sort of compensation or assistance to the civilian victims it's harmed."'A positive step' Men look at wall graffiti depicting a U.S. drone along a street in Sanaa, Yemen, November 9, 2013. REUTERS/Mohamed al-Sayaghi Biden is hardly the first US president to look to drones as a means of combatting terrorism without putting American forces in harms way. The use of drone strikes in counterterrorism operations began under the Bush administration. President Barack Obama accelerated the use of drone strikes when he was in office, facing rampant criticism over civilian casualties in the process.The Obama administration eventually took steps that aimed to reduce civilian deaths from drone strikes, which were ultimately reversed by the Trump administration. There was a massive spike in civilian deaths in Afghanistan from airstrikes under President Donald Trump, who in 2017 relaxed the rules of engagement for strikes.Biden initiated a review of US drone policy after coming into office that's ongoing. Eviatar said it's "a positive step" that the Biden administration has acknowledged the harm caused by the August 29 trike and that the Pentagon expressed a willingness to pay reparations to the families of the victims. But "we'd like to see a much stronger break with past policies than what we've seen so far," Eviatar added. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Hiring picks up at Jax International in sign travelers are returning

The airport will be holding a job fair this week to help out about two dozen airport-related employers......»»

Category: topSource: bizjournalsMay 10th, 2021

Hundreds of foreign companies attend North Korea trade fair despite sanctions

An international trade fair in North Korea this week may be the largest such event on record, analysts said on Tuesday, with hundreds of Chinese and other foreign vendors taking part despite sanctions pressure......»»

Category: topSource: reutersMay 21st, 2019

Sinclair Community College to host job and career certificate fair

Sinclair Community College will host a job fair this week featuring a variety of employers from around the Dayton region seeking to fill entry-level positions. The Job and Career Certificate Fair will also provide attendees with information about 29 ca.....»»

Category: topSource: bizjournalsJun 19th, 2018

Greater Dayton companies to host mega job fair

More than 20 Greater Dayton companies will participate in a mega job fair next week to fill more than 500 positions. The JobNewsUSA.com Job Fair will be held 10 a.m. to 2 p.m. Aug. 21 at Holiday Inn-Centre Park of West Chester, 5800 Muhlhauser Road in .....»»

Category: topSource: bizjournalsAug 16th, 2018

Restart on deck for international business roundtable

An effort two years ago to bring together local business professionals with cross-border interests may have stalled in its original form, but organizers are planning to refresh the program. Next week, Welke Customs Brokers USA in Tonawanda will host an.....»»

Category: topSource: bizjournalsSep 21st, 2018

Hawaiian Airlines moving international check-ins at Honolulu airport

Hawaiian Airlines is moving the check-in area for its international passengers to a lobby in the main terminal at Honolulu's Daniel K. Inouye International Airport this week and plans to assign dedicated lobbies in the interisland terminal for Mainla.....»»

Category: topSource: bizjournalsDec 17th, 2018

Liz Cheney says GOP lawmakers in the House and Senate have cheered her on privately in her fight against Trump

Cheney explained that lawmakers are refusing to speak up against Trump publicly for fear of being in "political peril" during an appearance on "60 Minutes." Wyoming lawmaker Liz Cheney said to CBS "60 Minutes" host Lesley Stahl that "a lot" of lawmakers - both int he House and Senate - have privately cheered her on in her fight against Trump. Tom Williams/CQ-Roll Call via Getty Images Cheney said on CBS' "60 Minutes" that "a lot" of House and Senate lawmakers have encouraged her privately. She said GOP lawmakers will not speak up against Trump publicly for fear of being in "political peril." Cheney added that she is not ready to cede the GOP to "the voices of extremism." See more stories on Insider's business page. Wyoming lawmaker Liz Cheney said many GOP lawmakers in the House and Senate have approached her privately and cheered her on in her fight against former President Donald Trump. Appearing on "60 Minutes" with CBS host Lesley Stahl, Cheney said she had received encouragement from "a lot" of GOP lawmakers. "Have members of Congress, Republicans, come up to you privately and whispered in your ear, 'Way to go, Liz,' and encouraged you, but won't come forward and say that publicly?" Stahl asked Cheney. "The argument that you often hear is that if you do something that is perceived as against Trump that, you know, you'll put yourself in political peril," Cheney told Stahl. "And that's a self-fulfilling prophesy because if Republican leaders don't stand up and condemn what happened then, the voices in the party that are so dangerous will only get louder and stronger."In the same interview, Cheney called the former president "dangerous" and said she was standing up to him because she wanted to "fight for the GOP" because she still believed in it."I am not ready to cede the Republican party," Cheney said. "And I'm not ready to cede it to the voices of extremism, to the voices of antisemitism, and the voices of racism, and there certainly are some in our party." Cheney and Trump have locked horns repeatedly after she voted for him to be impeached following the January 6 Capitol riot, breaking with the GOP's party line. She has also been under fire for accepting House Speaker Nancy Pelosi's offer to join the House committee investigating the January 6 Capitol riot.Cheney's vocal opposition to the former president has resulted in the GOP voting to oust her from her leadership position. Trump has also gone after Cheney, branding her a "Republican-in-name-only" (or RINO) and attacking her repeatedly in his statements and speeches. This month, he endorsed one of her challengers for her House seat, Wyoming attorney Harriet Hageman. Meanwhile, Cheney is raising a record amount of funds for her re-election bid and has been supported by former President George W. Bush and Senate Minority Leader Mitch McConnell. Bush's backing of Cheney, however, has not come without reprisal from Trump. Last week, the Trump camp emailed a meme to his supporters of Cheney and Bush's faces morphed together. Trump sent the meme a day after releasing a statement criticizing Bush for having "a failed and uninspiring presidency."Read the original article on Business Insider.....»»

Category: worldSource: nyt4 hr. 57 min. ago

Texas Gov. Greg Abbott says he"ll hire Border Patrol agents who are "at risk" of losing their positions under Biden administration

President Biden said that the agents who charged at migrants as they attempted to cross the Rio Grande in Del Rio, Texas, would face repercussions. Texas Gov. Greg Abbott speaking at the annual National Rifle Association (NRA) convention in May 2018. REUTERS/Lucas Jackson/File Photo Governor Abbott says he will hire Border Patrol agents who may face disciplinary action from President Joe Biden. "I will hire you to help Texas secure our border," the governor said on "Fox News Sunday." Images of agents on horseback charging Haitian migrants near the border has elicited outrage from Biden, Vice President Harris and others. See more stories on Insider's business page. Republican Gov. Greg Abbott of Texas on Sunday expressed support for US Border Patrol agents who are disciplined by the Biden administration, pledging to hire them if they fear that their jobs are in jeopardy.During an appearance on "Fox News Sunday," host Chris Wallace asked Abbott to respond to the videos and images that showed agents on horseback charging at Haitian migrants near the Texas border, which elicited a torrent of outrage from many across the country, including President Biden, Vice President Kamala Harris, and many members of Congress.Abbott immediately laid blame on the president, criticizing his administration for what he said was a lack of enforcement of existing immigration laws."They wouldn't have been in that situation had the Biden administration enforced the immigration law and secured the border in the first place," the governor said.He added: "If he takes any action against them whatsoever - I have worked side by side with those Border Patrol agents - I want them to know something. If they are at risk of losing their job by a president who is abandoning his duty to secure the border, you have a job in the state of Texas. I will hire you to help Texas secure our border."President Joe Biden last week said that the agents who charged at migrants as they attempted to cross the Rio Grande in Del Rio, Texas, would face repercussions."I promise you those people will pay," Biden said of the agents during a White House press conference. "There will be consequences ... It's dangerous. It's wrong. It sends the wrong message around the world; it sends the wrong message at home. It's simply not who we are."The Department of Homeland Security last week said that they take the allegations of mistreatment "very seriously.""The footage is extremely troubling, and the facts learned from the full investigation, which will be conducted swiftly, will define the appropriate disciplinary actions to be taken," the department said.Last week, the administration resumed deportations under Title 42, a public health policy that the Trump administration utilized that allows the US to remove migrants from the country without affording them the opportunity to apply for asylum.Secretary of Homeland Security Alejandro Mayorkas on Friday said that the Haitian migrants had been removed from the Del Rio area, NPR reported. Of the 15,000 migrants who were staying at a camp in Del Rio, roughly 2,000 individuals were sent back to Haiti, while 12,400 people are in the US awaiting their hearings in front of immigration judges, Mayorkas confirmed.During the Fox News interview, Wallace also asked Abbott about the role of Texas state government at the US-Mexico border, noting that Attorney General Merrick Garland has threatened to sue the governor over an executive order that targets migrants."Because the Biden administration is refusing to do its duty to enforce the laws of the United States, they have left Texas in no position other than for us to step up and do what we have to do," the governor contended. "I'm going to step up and do whatever I have to do to make sure that I protect the people of Del Rio, as well as all these other communities in the state of Texas that the Biden administration is ignoring."Read the original article on Business Insider.....»»

Category: topSource: businessinsider11 hr. 57 min. ago

The top 9 shows on Netflix this week, from "Sex Education" to "Manifest"

Netflix's "Sex Education" topped its streaming rankings this week, and "Manifest" is still a hit after the streaming giant announced a revival. "Sex Education." Netflix Every week, the streaming search engine Reelgood compiles for Insider a list of the TV shows that have been most prominent on Netflix's daily top-10 lists. Netflix counts a view if an account watches a movie or TV show for at least two minutes. "Sex Education's" third season debuted recently and propelled the series to the top spot this week. See more stories on Insider's business page. 9. "Nailed It!" (Netflix original, 2018-present) Netflix Description: "Home bakers with a terrible track record take a crack at re-creating edible masterpieces for a $10,000 prize. It's part reality contest, part hot mess."Rotten Tomatoes critic score: 98%What critics said: "We're all trying the best we can — and Nailed It! celebrates our gameness to get out of bed every day and keep trying, and maybe laugh along the way, too." — Vox (season four) 8. "Manifest" (NBC and Netflix, 2018-present) NBC Description: "When a plane mysteriously lands years after takeoff, the people onboard return to a world that has moved on without them and face strange, new realities."Rotten Tomatoes critic score: N/AWhat critics said: "Manifest's premiere is confident and declares that it hasn't lost any of its heart or soul, as the Stone family conquers the new threats that face them more together than ever, even if they're hundreds of miles apart." — Tell-Tale TV (season three) 7. "Sharkdog" (Netflix original, 2021-present) Netflix Description: "Half shark, half dog with a big heart and a belly full of fish sticks! Together, Sharkdog and his human pal Max can take on any silly or messy adventure."Rotten Tomatoes critic score: N/AWhat critics said: N/A 6. "The Circle" (Netflix original, 2020-present) Netflix Description: "Status and strategy collide in this social experiment and competition show where online players flirt, befriend and catfish their way toward $100,000."Rotten Tomatoes critic score: N/AWhat critics said: "I'm not even sure the snark of host Michelle Buteau can save season three of The Circle." — The Spool (season three) 5. "Cocomelon" (YouTube, 2019-present) Netflix Description: "Learn letters, numbers, animal sounds and more with J.J. in this musical series that brings fun times with nursery rhymes for the whole family!"Rotten Tomatoes critic score: N/AWhat critics said: N/A 4. "Lucifer" (Netflix original, 2016-2021) "Lucifer" Netflix Description: "Bored with being the Lord of Hell, the devil relocates to Los Angeles, where he opens a nightclub and forms a connection with a homicide detective."Rotten Tomatoes critic score: 88%What critics said: "For five seasons, we watched Lucifer work on himself in therapy. Season 6 finally lets him use everything he's learned to reach his destiny." — Polygon (season six) 3. "Clickbait" (Netflix original, 2021-present) Netflix Description: "When family man Nick Brewer is abducted in a crime with a sinister online twist, those closest to him race to uncover who is behind it and why."Rotten Tomatoes critic score: 55%What critics said: "Clickbait is yet another digital-concerned show/film that gestures at big ideas about the internet — catfishing, cancel culture, surveillance, etc — but fails to capture the contours of life on it." — Guardian (season one) 2. "Squid Game" (Netflix original, 2021-present) Netflix Description: "Hundreds of cash-strapped players accept a strange invitation to compete in children's games. Inside, a tempting prize awaits — with deadly high stakes."Rotten Tomatoes critic score: 100%What critics said: "Squid Game doesn't offer an escape from the horrors of the real world; within its limitations as a fictional drama, it gives us something far rarer: an affirmation that they exist, and that we're not alone in finding them nightmarish." — Den of Geek (season one) 1. "Sex Education" (Netflix original, 2019-present) Netflix Description: "Insecure Otis has all the answers when it comes to sex advice, thanks to his therapist mom. So rebel Maeve proposes a school sex-therapy clinic."Rotten Tomatoes critic score: 96%What critics said: "All the young actors shine, but none of them more than Ncuti Gatwa, who plays Eric with an energy and resilience that is inspiring to watch. This season, Gatwa isn't just a joy; he brings more nuance and authenticity than ever." — Boston Globe (season three) Read the original article on Business Insider.....»»

Category: topSource: businessinsider15 hr. 25 min. ago

I went to Stew Leonard"s for the first time and the unique customer experience made me actually enjoy grocery shopping

Growing up, I never knew Stew Leonard's existed, but I was pleasantly surprised with the unique in-store shopping experience. Stew Leonard's store front Taylor Rains/Insider I went to Stew Leonard's for the first time and the experience made grocery shopping feel like less of a chore. The store is full of appetizing food and interesting decorations, colors, displays, and animatronics. The $400 million business prides itself on its store brands, which soared 40% in sales during the pandemic. See more stories on Insider's business page. Many people hate grocery shopping, including me. I have always dreaded the weekly run, but a family-owned supermarket chain in the Northeast added a little fun to the chore. Stew Leonard's storefront in Norwalk, Connecticut Miro Vrlik Photography/Shutterstock Stew Leonards was founded in 1969 and is a chain of seven grocery stores in Connecticut, New Jersey, and New York. The iconic business is the world's largest dairy store and brings in over $400 million in sales each year Stew Leonard's employees Stew Leonard's Growing up in Florida, I never knew the supermarket existed, but I was pleasantly surprised with the unique in-store shopping experience when I visited the Newington, Connecticut location recently. Stew Leonard's storefront in Newington, Connecticut Taylor Rains/Insider The first thing I noticed was the store's rustic feel, almost like it didn't belong in Connecticut. The wood building looks like a giant barn, complete with a silo, which is in line with Stew's farm theme. Inside Stew Leonard's Taylor Rains/Insider When I entered the building lobby, I saw a garden of flowers, plants, and pumpkins - right in time for the fall season. Also in the space was a photo booth and a rock that outlined the company's policy of "the customer is always right." "The customer is always right" policy Taylor Rains/Insider Once inside the main building, I was immediately overwhelmed with the number of signs, colors, decorations, and displays. Donut stand Taylor Rains/Insider At the entrance sat a mouth-watering donut stand full of fresh pastries. Meanwhile, just past was a stage with five animatronic dairy characters that put on a show every few minutes. I'm sure they're a hit with the kids. Stew Leonard's animatronics Taylor Rains/Insider After watching the show, I made my way to the produce section, which is the start of the store's single long shopping aisle. Produce section Taylor Rains/Insider Stew Leonards is set up like a roadmap, zig-zagging customers through each section of the store via an established path. While shoppers can exit the main path or decide to bypass sections, the store's pre-arranged route eliminates aisles and streamlines the shopping experience. Shopper in produce section Taylor Rains/Insider Walking through produce was a treat because of all the organic, fresh fruits and vegetables. In the section was the first of eight mini-shows that the store has set up, which are animatronic characters that sing for customers. Fresh fruits Taylor Rains/Insider The shows are activated by a big "push" button, which I obviously had to try. The banana was kiddish, but cute, though I'm sure the employees get tired of hearing the same tune every day. Animatronic character Taylor Rains/Insider In addition to the singing banana, the store also had a parrot... Animatronic character Taylor Rains/Insider a pig... Animatronic character Taylor Rains/Insider and chickens. Animatronic characters Taylor Rains/Insider A unique service Stew offers that I have not seen anywhere else is the fresh fruit and vegetable stand, where employees will cut produce for customers to save them time at home. Fruit and vegetable cutting stand Taylor Rains/Insider One of my favorite aspects of the store was the free samples. On the day I went, there was a vendor with flavored seltzer water and another with fresh pineapple, both of which were pretty tasty. Samara vendor Taylor Rains/Insider One useful feature of the store is its in-house butcher. The butcher had all types of fresh-cut beef, like sirloin, ribeye, and filet mignon. I opted for the teriyaki steak tips and they proved to taste much better than pre-packed meat. Employee prepares steak tips Taylor Rains/Insider The bread section was also impressive. Stew's has in-store bakers that produce fresh bread every day, and the store had offerings that I had not seen at other supermarkets, like pre-cut ciabatta bites and pumpkin seed loaves. Bread section Taylor Rains/Insider I was also intrigued by the fresh-made bagels, which come in all sorts of interesting flavors, like cheddar, rainbow, garlic, blueberry, and french toast. Bagels Taylor Rains/Insider Past the meat and bread is all of the international cheese, which is my favorite section. There was an entire wall dedicated to cheddar and a stand full of other types, like mozzarella, ricotta, and burrata. Stew employees produce over 500 pounds of fresh mozzarella cheese a day. International cheeses Taylor Rains/Insider I also really enjoyed exploring the seafood section, which was full of fresh fish, like salmon, flounder, and shellfish. Every meat looked delicious and I was impressed with the quality of the salmon I took home for dinner. Seafood section Taylor Rains/Insider At the end of the shopping experience are a few places to pick up lunch or dinner before heading to check-out. Stew's has a BBQ stand... BBQ stand Taylor Rains/Insider a pizza stand... Pizza stand Taylor Rains/Insider and a sushi shelf to choose from. Sushi shelf Taylor Rains/Insider Customers can buy some hot food to eat at home or take upstairs to Stew's in-store dining area, which was what I opted for. I ordered the pizza combo for $6, which came with two slices and a drink. Eating pizza at Stew's upstairs dining room Taylor Rains/Insider Throughout the store were all sorts of interesting decorations, like Mickey and Yoda doing aerobatics and an upside-down cow. The cow symbolizes the advice Stew got from his friends at Disney when coming up with marketing ideas: "gravity doesn't matter." Upside-down cow Taylor Rains/Insider Source: Stew Leonard's Before check-out, I had to take a look at Stew's Doggy Bar, which is full of unique treats. I grabbed the doggy pops for my dog Indiana, who gave them a 10/10. Stew's doggy bar Taylor Rains/Insider Also before check-out is a gift shop with Stew Leonard's swag... Swag shop Taylor Rains/Insider and a wall full of fresh-made soups. All of the options looked delicious and I ended up grabbing three, which are the perfect size for an easy lunch. Soups Taylor Rains/Insider Stew's does not have self-check-out, which is my preference, but the line went quickly. For customers with only a few items, there are dedicated express check-out lanes. Check-out area Taylor Rains/Insider On the way out, customers can stop by the ice cream shop serving up unique flavors, like pistachio and apple pie. Pistachio is my favorite flavor and it did not disappoint. Ice cream shop Taylor Rains/Insider Stew Leonard's prides itself on its store brands, which make up over 60% of its supermarket. According to Stew Leonard Jr, the private brand boomed during the pandemic, soaring 40% in summer 2020. Stew Leonard Sr and Stew Leonard Jr Stew Leonard's Source: Store Brands Leonard Jr explained major brands sold out quickly during COVID, so people opted for alternates, which he sees as a good opportunity for customers to try the store brand. In particular, the company's organic foods and citrus products did well during the pandemic. Stew Leonard's store branded marinara sauce Taylor Rains/Insider Source: Store Brands Stew's also had to buy products from restaurants because the store and national brands ran out. One five-pound bag of french fries it bought from a local restaurant and sold for $5 was bringing in $5,000 a week in June 2020. Different brands of peanut butter Taylor Rains/Insider Source: Store Brands Stew's success has been complemented by its eventful history. The supermarket was named the "Disneyland Dairy Store' by the New York Times in 1983 and ranked in Fortune Magazine's "100 Best Companies to Work For in America" list 10 consecutive years from 2002 to 2011. Stew's farm fresh eggs Taylor Rains/Insider Source: New York Times, Stew Leonard's Furthermore, it solidified its place in the Guinness Book of World Records in 1992 for having "the greatest sales per unit area of any single food store in the United States." Guinness book of world records plaque Taylor Rains/Insider Source: Stew Leonard's The supermarket was also a stomping ground for food celebrities like Martha Stewart, who bought ingredients from the store, and Paul Newman who asked Stew Leonard Sr. for help in launching his salad dressing. Stew Leonard's cow named after Martha Stewart Dave Kotinsky/Getty Images Source: Inc I am not surprised by Stew Leonard's immense success and love from the local communities. Its unique in-store experience made grocery shopping actually enjoyable, and there is no doubt I will become a regular customer. Stew Leonards Taylor Rains/Insider Read the original article on Business Insider.....»»

Category: topSource: businessinsider15 hr. 25 min. ago

I flew American Airlines to Europe for the first time during the pandemic and found it"s back to normal with bad food, uncomfortable seats, and free alcohol

American did a great job of getting me to Madrid on time but the flight was far from memorable. One thing I didn't miss was the bad airplane food. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider American Airlines is one of four US carriers flying overseas to Europe and has recently started increasing services as more countries open to American tourists. Transatlantic flights are pretty much back to normal, besides having to wear a mask. Hot meals and alcohol are once again served in all cabins including economy class. See more stories on Insider's business page. American Airlines is one of the leading US carriers flying between the US and Europe, especially from its international gateway in New York. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The summer before the pandemic saw American fly to 23 European destinations from the US. Fast forward to the summer of 2021, however, and that number stood at 11 as American wasn't as quick to rebuild in Europe following its reopening. Flying American Airlines to Europe during the pandemic. Thomas Pallini/Insider Source: Cirium But even still, American has maintained service to core cities like London; Madrid; and Rome, while opening new routes including New York-Athens. Athens, Greece. Shutterstock Read More: American and JetBlue just unveiled a new partnership with 33 new routes combined— here's what it means for travelers And American has proved to be an inexpensive option when crossing the pond, as I found when planning a recent work trip to Doha, Qatar with flights on American, British Airways, and Qatar Airways. Flying American Airlines to Europe during the pandemic. Thomas Pallini/Insider Read More: Gulfstream just debuted its new $75 million ultra-long-range plane that's also the world's largest purpose-built private jet: Meet the G700 I flew American Airlines from New York to Madrid during the summer of vaccinated travel. Here's what it was like. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Read More: I booked a flight on American Airlines despite the airline canceling thousands of flights this summer – here's how I'm preparing for the worst After recent bad experiences on American, I was a bit nervous to fly the carrier overseas. I made sure to do extra research on backup options in case something went wrong, and even arrived at the airport four hours early. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Read More: I was stranded in Bogotá airport for 10 hours and it taught me the true value of credit card perks and not taking no for an answer But having flown American internationally earlier in the summer, I knew how to prepare. The first step was to download Verifly, American's preferred health passport service that speeds along airport check-in and document verification. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I submitted all my required documentation and got the green light. As a result, check-in at the airport was less painful than expected as I was able to use a self-serve kiosk to get my boarding pass. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider For those checking a bag, though, there was a bit of a line, as is usually the case in international terminals. I was glad to have only brought a carry-on. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I was instantly relieved once I had my boarding pass and headed straight to the gate with only a minimal line at security. I felt silly having arrived four hours before departure but as the old saying goes, better safe than sorry. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider One benefit of flying out of American's Terminal 8 at John F. Kennedy International Airport is that Bobby Van's Steakhouse is open, and Priority Pass members through Chase can get a free meal. I had the burger and it was delicious. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Read More: I used a credit perk to dine for nearly free at an airport restaurant and it's my new favorite travel hack The rest of the concourse was quiet as I arrived before the bulk of the evening overseas departures. Even still, there were shops and restaurants open for business in a good sign for the industry. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I headed straight to the gate after lunch and got my first glimpse at the aircraft taking us to Spain, the mighty Boeing 777-200. American now only flies Boeing 777 aircraft between New York and Europe in a win for business class and first class customers that get to enjoy the airline's best premium cabin products. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Pandemic-era safety measures including social distancing floor placards and plexiglass portions at the gate counter were still on display. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Boarding began around 45 minutes prior to departure in American's standard group boarding procedure. Most US airlines have abandoned back-to-front boarding. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider American's Boeing 777-200 aircraft seat 273 passengers across three cabins, with classes of service including business, premium economy, and economy. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Source: SeatGuru In economy, seats are arranged in a 10-abreast, 3-4-3 configuration that's standard for most airlines flying the 777. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Seat pitch in economy is between 31 and 32 inches, according to SeatGuru, while seat width is a standard 17 inches. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Source: SeatGuru I booked this flight quite late and there weren't too many seats from which to choose that didn't require paying an extra fee. American isn't alone in the practice of charging for advance seat assignments on long-haul flights but I despise the practice as these tickets are expensive enough as it is. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider But to American's credit, there were a good showing of complimentary aisle and window seats towards the back of the plane from which to select. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider And to my surprise, the most unique seats in economy were available for selection. The last three rows on this aircraft are arranged in a 2-4-2 configuration meaning there are six two-seat pairs. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I thought I had lucked out by selecting one of them but my excitement was short-lived. Simply put, these seats were not the most comfortable for a larger traveler. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The small width didn't help and I felt like I was taking up part of the seat next to me. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider One thing that could've helped was if the armrest for the window seat was moveable, but it was fixed in place. I was so close to the seat in front of me that my tray table couldn't even lay flat (a problem I didn't have on the other carriers on which I flew during this trip). Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider My top concern was having enough room once my seat neighbor arrived. But I lucked out and had both seats to myself as nobody showed up to claim the other. Flying American Airlines to Europe during the pandemic. Thomas Pallini/Insider There was a gap between the seat and the cabin wall which offered some additional legroom and a place to store the pillow and blanket kit left on the seat. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider American is quite generous with seat features on its wide-body aircraft. Each seat has an 8.9-inch in-flight entertainment screen with a variety of movies, television shows, games, and music. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The moving map proved handy during the flight to keep track of our location. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider A tethered remote is also available to control the system and act as a game controller or keyboard for the seat-to-seat chat function. It also comes in handy when scrolling through content since the touch functionality is quite poor in that regard. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider In-flight WiFi is also available on the aircraft for a price. And for those using devices during the flight, in-seat power is offered through USB charging ports and 110v C power outlets at seats. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The rest of the aircraft was quite full, which surprised me as it was quite late in the season for transatlantic travel. Some passengers were visiting family and friends while others were starting their study abroad term. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Bad weather in New York wreaked a bit of havoc on the airport but we weren't overly affected. I was quite relieved that our departure was pretty close to on time as I had a connection to make in Madrid. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The storm did, however, make for some great views as we blasted out of New York. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Madrid is quite a short flight from New York and while I wanted to go straight to sleep, I did want to see what the meal service was like. This was the first time I'd had a hot meal on American during the pandemic. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider As I waited for the service to begin, I had a look at what was on offer in the movie department. American had quite a good selection in all categories, and I ultimately picked "The Vault." Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider First attendants started the drink service first with a selection of soft drinks, juices, wine, and beer. Alcohol isn't currently served in economy on American's domestic flights but it flows freely on transatlantic hops. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I ordered a club soda along with some red wine to help ease my sleep after the meal. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Next came the meal service as flight attendants quickly passed out the trays. I felt like I was being served in a cafeteria as one flight attendant curtly asked, "chicken or pasta?" Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I unwrapped the entree to find that not much has changed at all when it comes to American's economy catering. The chicken dish was accompanied by a side salad, cheese and crackers, and a cinnamon dessert bar. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I couldn't describe the chicken beyond that it was served in a tomato-based sauce. I enjoyed the sides more than the main and was glad I had the burger at Bobby Van's before the flight. Next time, I think I'll head straight to sleep. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Flight attendants were very quick to complete the meal service, though, and got it done in under an hour and a half. The flight to Madrid is only six hours and 30 minutes so every second counts. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Ready for bed with a full stomach, I used the pillow and blanket that American had left on the seat and did my best to get comfortable. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Another downside of the two-seat row is that there's a gap between the seat and window, making propping a pillow up against the cabin wall near-impossible. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider But even then, it wasn't too difficult to get to sleep and I woke just before breakfast was served. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Flight attendants once more came around to serve drinks first, followed by a pre-packaged cold breakfast. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider On offer for the optimistic morning meal included Chobani strawberry yogurt, a raspberry fig bar, and coconut cashew granola. All in all, it was quite standard but still enjoyable. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider The flight to Madrid was nearing its end and I can't say I was upset to see it go. American did a great job of getting me to Spain on time but the in-flight experience was exactly what I expected it to be. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider I did appreciate the modernity of the aircraft and the efficiency of the crew but there wasn't anything memorable about this flight. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Besides having to wear a mask, though, I'd say that American is back to normal on these flights, for better or worse. Flying American Airlines from New York to Madrid, Spain during the pandemic. Thomas Pallini/Insider Read the original article on Business Insider.....»»

Category: topSource: businessinsider15 hr. 25 min. ago

Democrats" criticisms of Biden are actually a reminder of why the GOP is such a danger to our democracy

Democrats are willing to criticize the president's handling of COVID and Afghanistan, while Republicans refuse to disagree with Donald Trump. President Joe Biden. Drew Angerer/Getty Images Democrats have taken Joe Biden to task for his handling of COVID and the Afghanistan withdrawl. On the other hand, Republicans refuse to call out Donald Trump's lies and mistakes. The difference underlines just how much of a threat the GOP is to America's democracy. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. The past two months have brought a dramatic change to the Biden presidency. COVID-19 numbers have skyrocketed. The Afghanistan withdrawal was mired by the deaths of US soldiers and chaos at the Kabul airport. The recent revelation that a US drone strike in the country killed 10 civilians only added to the fallout. For a President who came into office with decades of experience at the highest levels of government, August and September have shown that experience can't always prepare you for the most difficult moments. Biden's critics, both Republican and Democrat alike, have noticed. But only one team has shown integrity in holding the President's feet to the fire.Criticizing your ownThe right's criticisms of Biden have been as predictable as they are ridiculous, such as the suggestion that Biden resign over Afghanistan. But criticism from his own party has been more substantive. Democratic senators from every wing of the party criticized the administration's handling of the Afghanistan withdrawal. Just this week, many Democrats have been up in arms about the Biden administration's treatment of Haitian migrants at the southern border. Senate Majority Leader Chuck Schumer "urge[d] President Biden and Secretary Mayorkas to immediately put a stop to these expulsions" while Rep. Alexandria Ocasio-Cortez called the situation "a stain on our country." As surprising as it may sound, this criticism is a good thing. Healthy democracy is built on politicians and pundits willing to criticize their own party's leaders when they make a mistake. It also beats the alternative: fawning over a dear leader with no critical eye or pushback to their decisions. That is how the Republicans live. That is how democracies die. Fear of your ownThe need for serious intra-party criticism to foster a healthy democracy is why it's so worrying that Republicans are completely unwilling to criticize their leaders, or more specifically, their leader. Even months removed from office, Donald Trump and the political movement that he represents are beyond reproach by Republicans. Those who do speak out, like Rep. Liz Cheney, are ousted from leadership, while others, like Rep. Anthony Gonzalez, are forced into an early retirement. Republican cable pundits like Fox News' Tucker Carlson and Sean Hannity are the major drivers. Not only do they spread dangerous misinformation on a daily basis, but when it comes to mistakes and missteps by Trump and other Republicans, they are silent. This week, it was revealed that Trump's lawyer had given Mike Pence a six-point plan to steal the 2020 election. If Biden were to propose such an undemocratic idea today, Democrats in the media and in the Capitol would call for his impeachment. But Republicans refuse to hold their own to account, even when it means pushing a lie. Over the past year, the GOP has proven that they don't care about maintaining our democratic system of government. They care about power. Integrity and doing what's right is meaningless if it won't help them entrench their minority rule over the United States.It helps when Fox News and other right-wing media are completely in their pocket, rather than traditional media which largely tries to hold the country's leadership in check, regardless of who's in charge.This is just the latest example of how the GOP is better at politicking in our democratic system than the Democrats - and the latest example of how the GOP's skill at exploiting that system is going to be the very thing that crushes it. Read the original article on Business Insider.....»»

Category: topSource: businessinsider15 hr. 25 min. ago

NYPD Seize Illicit Camper Vans Used For Airbnb Rentals In Manhattan

NYPD Seize Illicit Camper Vans Used For Airbnb Rentals In Manhattan Authorities in Manhattan seized seven illegally documented camper vans that have served as Airbnb rentals for the last two years.  According to NBC New York, deputies from the sheriff's office and NYPD officers jointly impounded seven of the vans last week.  Sheriff Joseph Fucito said the vans were parked on streets throughout Chelsea and the East Village and used as Airbnb rentals. He said all vans had New Jersey license plates. Three vans had expired registration, while others had plates that didn't match the vehicle. The seventh van wasn't registered.  Fucito went on to say the investigation began when a YouTuber posted a video of his experience of sleeping in one of the vans overnight in the East Village. He didn't say which video was in focus, but we found a recent YouTuber who reviewed his stay in one van for $97 per night.  "I was shocked when I saw an RV show up on Airbnb during my trip to New York. I figured, I would try it. The price with fees and taxes was $97 per night to sleep in the van in East Village," YouTube handle "Uptin" said in the description of the video.  The van listing appears to be removed from the Airbnb platform, but one boasted about "glamping in a spacious camper Van in NYC."  The one significant concern guests had was no bathroom accommodations were included in the stay, and they were told by the host to use facilities at local bars and restaurants.  Tyler Durden Sun, 09/26/2021 - 11:30.....»»

Category: blogSource: zerohedge16 hr. 25 min. ago

Orlando is gearing up to become a rival to Silicon Valley - and shift away from being a destination primarily for tourists and retirees

Lockheed Martin, Oracle, Verizon, and Deloitte all have offices in Orlando - and more companies are joining them. Orlando has talent, transport, and low taxes. John Greim/Loop Images/Universal Images Group via Getty Images Orlando has been shaking off Florida's reputation as primarily a place for tourists and retirees. Instead, the city is becoming a hub for tech, defense, training, and finance companies. Execs from EA, Luminar, and Stax told Insider why its tech scene is thriving. See more stories on Insider's business page. Defense and technology startup Red 6 is opening a hub in Orlando to develop its airborne tactical augmented reality system.It's one in a long line of companies, including Lockheed Martin, Oracle, Verizon, and Deloitte, with offices in the central Florida city.For years, people have viewed the Sunshine State as primarily a vacation and a retiree destination, but groups such as the Orlando Economic Partnership have been working to elevate its profile as a tech hub."In Orlando, everyone knows the Disney story," Tim Giuliani, the Partnership's president, told Insider. "This part of the story that people don't know or don't recall is the space race."NASA started performing launch operations in Cape Canaveral more than 70 years ago. The city is also home to the Kennedy Space Center and US Army, Air Force, and Navy simulation command centers, which has led to an influx of other technology, defense, and training companies."You have this cluster here, that's developed over a long time, and now you're seeing it get to a critical mass," Giuliani said. "You're seeing more companies moving out of California and New York.""We've made great strides in growing our reputation as a city where tech companies and start-ups can not only open, expand, relocate, and thrive, but be in proximity to some of the world's leaders in innovation," Orlando Mayor Buddy Dyer added.Orlando has talent, transport, and low taxesExecs from Electronic Arts, Luminar, and Stax told Insider that Orlando's big talent pool made it easier for them to recruit in the area."We have all these great colleges that are literally in our backyard," Suneera Madhani, founder of Orlando-based SME payments platform Stax, said. These include the University of Central Florida, the University of Florida, and Valancia College.Giuliani said there were half a million college students within a hundred-mile radius of downtown Orlando."We have been able to tap into that talent," Luminar CTO Jason Eichenholz said. The self-driving LIDAR startup has around 400 employees, with roughly 60% based in Orlando."In the early days of Luminar, when we would meet with a potential customer and they'd have one specific LIDAR engineer, we would have a millennia of men and women, experienced in LIDAR technology, which gave us a very unfair advantage compared to our competition," Eichenholz added.The execs said it was easy to recruit workers from other states to move to Orlando, too.Electronic Arts vice-president Daryl Holt said its Orlando studios had more than 850 employees - some from the area, including many UCF graduates, and some who relocated.Migration to the state has boomed because of its warm climate, low living costs, and lack of income tax."Who wouldn't want to move to Florida?" Mahdani said. Many of Stax's C-suites and middle management relocated from New York, California, and Atlanta, he added.Eichenholz said some young tech workers relocated to California to work for companies like Google, Apple, and Facebook, but that once they had a family, "we do exceptionally well in being able to attract them back to Florida."The execs said Orlando had a pro-business environment and bustling tech community. Madhani, for example, sits on the board of Starter Studio, a venture-tech accelerator that helped her set up Stax in 2014."It's a wonderful nexus point of industry, education, and government all rowing in the same direction," Holt said.Giuliani said Orlando is a well-connected city. As well as an international airport, Brightline is due to launch a rail line connecting Orlando to Miami, Fort Lauderdale, and West Palm Beach in 2022."Obviously Silicon Valley is not going to die and New York's not going to die," Giuliani said. "There's just going to be more for everybody else."Read the original article on Business Insider.....»»

Category: worldSource: nyt21 hr. 41 min. ago