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Can I Get Payday Loans Using My Car as Collateral?

Can I Get Payday Loans Using My Car as Collateral?

If you own a car and require urgent money, then you’re in the right place. You can utilize your car as collateral for Payday Loans online @ citrusnorth.com and get fast money to pay for costs. Let’s take a closer look the way that the title Payday Loans work and the advantages that come with having one.

What if I used my vehicle as collateral to get the Payday loans?

These Title-Payday Loans can be described as essentially secured Loans that permit you to borrow against your car as collateral. If you’re accepted, you are able to continue driving your car while you pay off the Payday Loans. You are eligible for a title Payday Loan for as long as you own your vehicle.

What are the mechanics behind the car Title Payday Loans work?

Title Payday Loans are secure payday Loan that relies on your car as collateral. When you’re approved for a title payday loan and you’re able to give the lender the title of your car to receive a large amount of cash. The appraisal value of your vehicle can determine how much you’ll get.

The benefits of obtaining an auto title Payday Loans by using your vehicle as collateral

There are many advantages to having a title-based Payday Loan with your car as collateral, such as:

The application process is simple and easy to complete.

You are able to apply for a Title Payday Loan and have your vehicle appraised within minutes.

Cash in a hurry

When your vehicle is appraised and you agree to the deal the lender can transfer your money immediately. You will receive the cash fast and will not be waiting for several months for your cash as you do with other kinds of payday loans.

You can keep driving your car

If you get an official loan title Payday Loans, you’ll be in a position to continue driving your vehicle. You won’t need to lease a vehicle or rely on friends or family members to get you the place you want to get to.

You don’t have to have good credit

Title Payday Loans have flexibility in terms of requirements. Because you’re using your vehicle to secure the loan, you can be approved for Payday Loan even if you have bad credit.

A representative will examine your car and provide you with a Payday Loans offer within minutes. When you’ve agreed to these Payday Loans terms, you will receive the money. It will be simple and quick and you don’t have to worry about having good credit to get approved.

Industrial 3D Printing Market Technological Advancements, Growth Overview, Segmentation and Regional Outlook 2022-2030


The industrial 3D printing market is expected to reach $6.2 billion by 2030, registering a CAGR of 12% during the forecast period.

NEW YORK, UNITED STATES, Nov. 23, 2022 /EINPresswire.com/ — Industrial 3D Printing market report is the most important research for who is looking for all market information. The report covers all global and regional market information, including historical and future trends of market dominance, size, trading, supply, competitors, and pricing, along with key vendor information. worldwide. The forecast market insights, SWOT analysis, Industrial 3D Printing market scenario and feasibility study are important aspects of this report.

Get Sample [email protected]: https://www.businessmarketinsights.com/sample/BMIRE00026911

Key companies in the global industrial 3D printing market include:
• 3D Systems, Inc.
• Arcam EBM (GE additive)
• EnvisionTEC Inc.
• EOS GmbH
• Materialize NV
• SLM Solutions Group SA
• Stratasys Ltd.
• The ExOne company

The growing importance of high-volume production using 3D printing has increased the demand for the industrial 3D printing market:
Industrial 3D printing technology is moving from prototyping to high-volume production. Recently, 3D printing has been seen as a viable technology for small to medium volume production. However, there are several emerging opportunities for high-volume production with 3D printing. High-volume additive manufacturing involves the use of 3D printing systems and processes for the production of given volumes of less than one million units. The added benefit of this technology is its functionality to work on large product variations. Eliminating tooling will help create many products of different designs in one batch for a single 3D printing system and process.

Segmentation of the industrial 3D printing market:

By offering:
• Printers
• Materials
• Software
• Services

Per application:
• Robotics
• Heavy equipment and machinery
• Tools

Per end user:
• Aeronautics and Defense
• Automotive
• Printed electronics
• Health care
• Others

• North America
• Asia-Pacific (APAC)
• South and Central America
• Middle East and Africa
• Europe

Key players in the Industrial 3D Printing industry are covered in this report by report, their market share, product portfolio, company profiles. Major market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among the Industrial 3D Printing players will help the industry aspirants to plan their strategies. The statistics presented in this report are an accurate and useful guide to shape the growth of your business.

Important TOC of Global Industrial 3D Printing Market:
– Overview of the industrial 3D printing market
– Global Industrial 3D Printing Market Competition, Profiles/Analysis, Strategy
– Global industrial 3D printing capacity, production, revenue (value) by regions (2022-2030)
– Global Industrial 3D Printing Supply (Production), Consumption, Export, Import by Region (2022-2030)
– Regional highlights of the global industrial 3D printing market
– Industrial chain, sourcing strategies and downstream buyers
– Analysis of Marketing Strategies, Distributors/Traders
– Analysis of the factors influencing the market
– Relevant market decisions for the current scenario
– Ex Global Industrial 3D Printing Market Outlook (2022-2030)
– Case study
– Results and conclusions of the study

Buy a copy of this [email protected]: https://www.businessmarketinsights.com/buy/single/BMIRE00026911

The research includes historical data from 2020 to 2022 and forecast to 2030, making the report valuable for industry executives, marketers, sales and product managers, consultants, analysts, and developers. stakeholders in clearly presented tables. Together, we search for easily accessible documents. . chart.

Finally, the Industrial 3D Printing Market report is the credible source for obtaining the market research that will exponentially accelerate your business. The report provides locale, economic conditions, item values, benefits, limitations, creations, supplies, demands, market development rates, figures, and more. .

About Us:
Business Market Insights is a market research platform that provides industry and company reports subscription service. Our research team has extensive professional expertise in areas such as electronics and semiconductors; Aerospace and Defense; Automotive and Transportation; Energy and electricity; Health care; manufacturing and building; Food and drinks ; chemicals and materials; and technology, media and telecommunications.

Contact us:
If you have any questions about this report or would like further information, please contact us:
Contact person: Sameer Joshi
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Does car insurance cover rental cars? (2022)


The next time you need to rent a vehicle, you may be wondering if car insurance covers car rental policies. Although this is usually the case, it is a good idea to ask your car insurance agent about your personal policy coverage before you arrive at the car rental counter.

The Home Media review team looked at when personal auto insurance covers rental cars, and we’ll mention those situations below. We also researched best car insurance industry companies to help you find the right coverage for your needs.

Will personal insurance cover my rental car?

Check what your personal auto insurance covers if you plan to drive a rental car without purchasing a short-term policy. It is illegal to drive a vehicle, rental car or otherwise, if it lacks minimum coverage. Also, car rental companies usually do not offer their own coverage.

Major auto insurers usually extend your coverage to rental cars, but that’s not always the case. Also note that car insurance companies generally only provide coverage to drivers when they are in the United States, Canada, or territories such as Puerto Rico. Car insurance does not cover rental cars in other countries, so buy your own coverage if you are going elsewhere.

When determining whether your personal auto insurance policy covers rental vehicles, consider the value of your car versus that of your temporary car. If the rental car is worth significantly more than your model, you can set higher short-term coverage limits.

Will credit card companies cover rental cars?

Many credit card companies offer some form of rental car insurance coverage if you use your card to rent the vehicle. Your credit card issuer might reimburse high deductibles on auto insurance if you make a claim on a rental car, or they might even cover the value of the rental vehicle in the event of total loss or loss of use.

You may receive primary or secondary coverage from your credit card company. Those with primary coverage will have their credit card issuer cover most damages, while drivers with secondary coverage will only receive benefits after the car insurance has paid most of the damage. complaint. Check with your credit card company to find out what type of coverage you qualify for.

Types of rental car insurance

If you need cheap car insurance to cover a rental car or looking to increase your protection, consider the following insurance products:

  • Liability insurance: It is absolutely essential that all rental cars have sufficient coverage to meet or exceed the state’s minimum coverage requirements. Liability protection is not optional, so almost all motorists must provide proof of coverage. You will find that there are two types: bodily injury and property damage liability insurance.
  • Loss Damage Waiver (LDW): Often known as Collision Damage Waiver (CDW), an LDW waives your liability if your rental car is damaged or stolen. This choice depends collision coverage and full coverage for those who use a personal policy.
  • Personal effects insurance: This additional insurance covers personal items that could be stolen from your rental car. Personal effects insurance is a smart coverage option for those traveling to cities known to have many car break-ins. While personal effects coverage is standard for homeowners or renters insurance, cars are not.
  • Personal accident insurance: If you have a car accident while driving your rental car, personal accident protection covers medical expenses for you and your passengers. This option is extremely similar to medical payment coverage and injury protection in that it covers most medical bills.

If you have minimum coverage auto insurance on your personal vehicle, it may be a good idea to add LDW or personal effects coverage to your rental car. You could face a greater likelihood of having an accident on unfamiliar roads when driving a rental, and you could have valuables stolen. Also consider adding additional coverage if you have a rental car model that is more expensive to replace than your own vehicle.

Note that rental car reimbursement coverage is about getting a free replacement vehicle if yours is damaged or goes to the repair shop. In other words, it’s not a type of coverage you’ll choose when intentionally looking for a rental car.

Does car insurance cover rental cars? : Conclusion

Although auto insurance mostly covers rental cars, be sure to check for exclusions when doing your own research. Ask your auto insurance agent and credit card company before you rent to understand exactly what coverage you already have.

Drivers with minimal insurance should strongly consider increasing the level of coverage for their rental car. It’s expensive to repair or replace a rental car, and the small cost of adding collision damage waiver is well worth it for the majority of motorists.

Top Car Insurance Recommendations

If you want to find the best rates on car insurance, be sure to compare car insurance quotations from several suppliers. State Farm and Geico are two car insurance providers that cover rental cars, and we suggest you check them out when looking for affordable premiums and peace of mind on the road.

State Farm: Editor’s Choice

We give State Farm, the nation’s most popular auto insurance provider, a 9.3 out of 10.0 star rating and our Editor’s Choice award. State Farm holds a A+ rating from the Better Business Bureau (BBB) ​​and #1 in customer satisfaction among major insurers in the JD Power 2022 U.S. Insurance Purchases Study℠.

Further reading: State Farm Insurance Review

Geico: affordable for most drivers

Geico is known for its competitive pricing and widespread availability, which are two reasons behind its 9.1 out of 10.0 star rating. We also give Geico 9.8 stars out of 10.0 for its solid reputation in the industry and note its A+ rating of the BBB. In short, Geico is a reliable auto insurer with great rates for most types of drivers.

Further reading: Geico Insurance Review

Does car insurance cover rental cars? : FAQs
Below are frequently asked questions about whether car insurance covers rental cars.

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best car insurance companies. We’ve collected data on dozens of car insurance providers to score companies on a wide range of ranking factors. The end result was an overall score for each provider, with insurers who scored the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
  • Coverage (30% of total score): Companies that offer a variety of insurance coverage choices are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, industry expert ratings, and years in business to assign this score.
  • Availability (10% of total score): Auto insurance companies with greater state availability and fewer eligibility criteria scored higher in this category.
  • Customer experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by JD Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own customer analysis.

*Data correct at time of publication.

Limited chance of rising unemployment, says ING Bank – The First News


ING also said wage growth was weaker than expected, falling from 14% to 13%, below the consensus of 14.2%.
Rafal Guz/PAP

Labor demand will remain high in Poland while unemployment will struggle to rise, according to a report by ING Bank, despite a deteriorating economic environment in 2023.

Poland’s Central Statistical Office (GUS) said on Tuesday that employment rose 2.4% year-on-year in October and 0.1% month-on-month.

ING analysts noted that business sector employment grew much faster in October than a month earlier and faster than the consensus among economists, by 2.2% in each case.

“Labour demand will remain strong despite symptoms of a slowdown in some sectors, for example construction,” ING economists wrote in the report. “A large number of Ukrainian refugees (about 400,000), who have found work in Poland since the start of the war, contribute to this, and they are probably largely absent from the GUS employment data.

“In connection with the demographic situation, this suggests a continued tight labor market and little room for unemployment to rise despite a significant economic slowdown, which is likely to await Poland in 2023”, continue ING analysts.

They went on to warn that after a strong start to the year, a slowdown could be seen in many sectors of the economy.

“This is particularly visible in industrial transformation, where 7,000 jobs have been lost since January,” analysts said. “Information and communication continue to perform very well (+14,000 jobs), which may be linked to the relocation to Poland of certain companies from the East since the start of the Russian aggression. Employment is also growing in retail trade among other sectors, which is likely linked to the influx of refugees into the country.”

ING also said wage growth was weaker than expected, falling from 14% to 13%, below the consensus of 14.2%.

“Given the strength of labor demand, one might assume that companies’ lower propensity to increase wages is a result of preparations for an economic downturn, but they are also preparing company budgets for a strong minimum wage hike in 2023,” ING commented.

The report adds that in real terms, wages have fallen steadily since April – and this is unlikely to change in 2023 – which is currently driving reduced consumer demand, especially for durable goods.

“This is one of the main causes of the slowdown in GDP growth that we expect next year,” ING said.

The bank went on to say that there was every indication that the labor market would be better than expected in the latest central bank (NBP) inflation projections, both in terms of employment and wages.

“This is one of the reasons why we believe that a return of the CPI (consumer price index – PAP) to the NBP target may take longer than the projection assumes,” wrote the bank. “This is mainly reflected in the persistence of high underlying inflation.”

Teradata (NYSE: TDC) Releases Fourth Quarter 2022 Earnings Guidance


Teradata Inc (NYSE:TDC – Get Rating) updated its earnings guidance for the fourth quarter of 2022 on Monday. The company provided earnings per share (EPS) guidance of $0.28 to $0.32 for the period, compared to the consensus estimate of $0.32. The company released a revenue forecast of -. Teradata also updated its guidance for fiscal year 2022 to $1.58 – $1.62 EPS.

Analyst upgrades and downgrades

Several brokerages weighed in on TDC. Craig Hallum reduced his price target on Teradata shares to $40.00 in a Tuesday, November 15 research note. Morgan Stanley lowered its price target on Teradata shares from $50.00 to $43.00 and set an overweight rating on the stock in a Monday, October 17 research note. TheStreet upgraded Teradata shares from a b- to an ac rating in a Thursday, August 4, research note. StockNews.com moved Teradata shares from a hold rating to a buy rating in a research note on Saturday. Finally, Royal Bank of Canada lowered its price target on Teradata shares from $38.00 to $37.00 and set a sector performance rating on the stock in a Tuesday, November 8 research note. Two analysts gave the stock a sell rating, two gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $45.89.

Teradata trades down 2.2%

TDC opened at $31.83 on Monday. The company’s fifty-day moving average is $31.15 and its two-hundred-day moving average is $34.55. The company has a debt ratio of 2.31, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $3.24 billion, a PE ratio of 48.23, a price-to-earnings growth ratio of 1.58 and a beta of 0.99. Teradata has a 12-month low of $28.65 and a 12-month high of $52.53.

Teradata (NYSE:TDC – Get Rating) last released its results on Monday, November 7. The technology company reported earnings per share of $0.31 for the quarter, beating the consensus estimate of $0.29 by $0.02. The company posted revenue of $417.00 million for the quarter, versus analyst estimates of $423.10 million. Teradata had a net margin of 4.02% and a return on equity of 34.61%. The company’s revenue for the quarter was down 9.3% from the same quarter last year. During the same period last year, the company posted earnings per share of $0.24. Equity research analysts expect Teradata to post EPS of 0.74 for the current year.

Institutional investors weigh in on Teradata

A number of hedge funds and other institutional investors have recently changed their positions in the stock. BNP Paribas Arbitrage SNC increased its stake in Teradata shares by 39.4% during the third quarter. BNP Paribas Arbitrage SNC now owns 79,216 shares of the technology company worth $2,460,000 after acquiring an additional 22,382 shares during the period. Mercer Global Advisors Inc. ADV acquired a new equity stake in Teradata during the third quarter valued at $258,000. Two Sigma Investments LP acquired a new stake in shares of Teradata during the third quarter at a value of $1,486,000. Pathstone Family Office LLC increased its holdings of Teradata stock by 32.5% during the third quarter. Pathstone Family Office LLC now owns 15,281 shares of the technology company worth $474,000 after acquiring 3,748 additional shares during the period. Finally, Marshall Wace LLP increased its equity stake in Teradata by 64.9% during the third quarter. Marshall Wace LLP now owns 65,250 shares of the technology company worth $2,028,000 after acquiring an additional 25,675 shares during the period. 94.86% of the shares are currently held by institutional investors and hedge funds.

About Teradata

(Get an assessment)

Teradata Corporation, together with its subsidiaries, provides a connected, multi-cloud data platform for enterprise analytics. The company offers Teradata Vantage, a data platform that enables enterprises to leverage their data across the enterprise, as well as connect various data sources to simplify the ecosystem and support customers on their journey to the cloud through integrated migration.

See also

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Teradata, you’ll want to hear this.

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Although Teradata currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

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High property taxes hold back Ebonyi property market | The Guardian Nigeria News


Despite increased infrastructure investment by the Ebonyi government, the state’s real estate sector has plunged due to high taxes imposed on properties.

Practicing real estate professionals said the taxes had reduced the housing stock and affected the growth of the real estate market, which was only five to ten percent over the past five years.

The Guardian has learned that multiple taxation has created investor apathy, particularly in the residential and commercial segment, as the taxes have increased the cost of doing business and forced some businesses to relocate to other states.

The Nigerian economy continued to fall on hard times, with inflation, rising interest rates, rising cost of building materials, lack of skilled craftsmen, insufficient long-term funds and unstable government policies affecting the real estate environment.

With less investment in the real estate sector due to taxes, house prices for both new homes and rentals have skyrocketed in cities. The real estate market also recorded a high percentage in the demand for residential apartments, but a low percentage in the development of new projects.

Figures show that a two-bedroom bungalow listed for sale costs N8 million, while three bedrooms cost around N11 million. For three-bedroom and four-bedroom duplexes, the price is 30 million naira and 40 million naira; everything depends on the terrestrial space.

On the rental side, a one-bedroom apartment costs – N180,000 to N240,000; two-bedroom apartment – N250,000 to N350,000; three-bedroom apartment – ​​N350,000 to N500.00 and duplex – N600,000 to N1.5million, while market prices for new houses, for example, one-bedroom apartments and terraces are barely found .

Before now prices are as follows: One bedroom apartments – N100,000 to N120,000; two-bedroom apartments – N130,000 to N150,000; three bedroom apartments – N180,000 to N200,000 and duplexes – N250,000 to N450,000.

Industry experts explained that multiple taxation has posed a threat to real estate development, consultancy, administration and required urgent action as it stifles investment in the sector and stifles industry players.

Chairman of the Ebonyi State branch, the Nigerian Institution of Property Surveyors and Valuers (NIESV), Henry Odigwe said the property market is not growing like in other major cities as the government has stifled the growth of this sector, albeit indirectly.

“The government forcibly acquired the property of many peoples and ended up paying very little (much less than their value) or no compensation.

“And they’re also charging an incredibly high rate in the form of property taxes, while introducing new forms of taxes on property and other assets in the state. It’s also forced many businesses to move out of state. ‘Ebonyi.

Despite the situation, some developers are still building, but compared to other states, the rental value and capital value of properties are relatively low. Residential real estate in the state enjoys higher demand as commercial buildings such as apartments are higher than commercial properties.

The former Chairperson of the Ebonyi State branch, the Nigerian Institution of Property Surveyors and Valuers (NIESV), Ms. Anthonia Akani, said “community lawyers” affect the decisions of most potential investors.

“A situation where if you want to develop or even make minor repairs to your property you will be subject to outrageous payments in the name of a community development tax or whatever they call it scares away real estate investors potential,” she revealed.

According to her, the periphery holds great potential for real estate investors. “Almost all the outskirts of the metropolis are conducive to real estate development. They could serve as service towns to the metropolis,” she said.

Incidentally, some/many areas have not been fully developed like: Obubura, Nwaezenyi, Azuebonyi, Iboko Parts of Ezza, Ikwo, Agbaja and Nwofe Down Ogbaga road. These areas with a good road network are good for real estate investors.

She said most of the city/state land is still unregistered and as such you can’t do a title search on it. “Considering that the state is more public service oriented in terms of economic activities, the ability to pay adequate rent is unrivaled when compared to neighboring states.

“There is no real estate data market. Potential investors cannot obtain knowledge of the market outside the state. You must be in the state to have a good knowledge of prices, location and other conditions.

“Well, ideally, the infrastructure is expected to have attracted more investors to the city, but incidentally, the presence of such investments is not felt in the real estate sector. We have seen higher demand for sales than for purchases in the recent past.

“Ironically, investors in the real estate sector are attracted mainly by land located in the metropolis. One could have expected an expansion towards satellite towns but the reality is not the same. This can be attributed to problems with land titles in the state.

“Developers prefer plots that have already been developed, either to demolish and rebuild or to retain existing development on the site. The reason being that they believe the owner is known and the title can be traced or even sought from the relevant government departments,” she said.

However, she suggested that the government should provide an enabling environment for investors, as land title registration is important for any property investor.

Professor of Property Management and Environmental Assessment, University of Lagos, Austin Otegbelu, said the main towns of Abakiliki and Afikpo lack a strong economic base to boost the property market.

He said a good economic base would trigger effective demand and improve the real estate market, adding that inadequate compensation for acquired land cannot lift people out of poverty but rather impoverish them.

“In absolute terms, residential and commercial real estate can be said to be growing, but when viewed against inflation and the falling value of the naira, it is not growing. In its current state , it is not a good hedge against inflation.

“It is hoped that with the massive development of infrastructure in the state, investors will be attracted to the state, if the government is strategic in choosing infrastructure, especially those that could create a value chain in investment. agricultural.

Tax policy should also be both citizen- and investor-friendly, he said. “The government should be ready to provide its own capital contribution to attract investment.

“The outskirts of the state capital are attractive to developers because land values ​​there are low and investors can create new neighborhoods with high value and high growth potential.”

Seagate Technology Holdings plc (NASDAQ:STX) Receives Consensus “Hold” Recommendation from Analysts


Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) earned an average recommendation of “Hold” from the twenty-eight rating agencies that cover the stock, MarketBeat.com reports. Fourteen research analysts gave the stock a hold rating and six gave the company a buy rating. The average 1-year price target among analysts who updated their coverage on the stock in the past year is $69.50.

STX has been the subject of several research reports. Stifel Nicolaus cut his price target on Seagate Technology shares from $120.00 to $97.00 and set a “buy” rating for the company in a Thursday, September 1 research report. Deutsche Bank Aktiengesellschaft lowered its price target on Seagate Technology shares from $60.00 to $55.00 in a Thursday, October 27 research note. Susquehanna lowered its price target on Seagate Technology shares from $40.00 to $38.00 in a Thursday, October 27 research note. Mizuho lowered its price target on Seagate Technology shares from $75.00 to $62.00 and set a “neutral” rating for the company in a Thursday, Oct. 27 research note. Finally, TheStreet upgraded Seagate Technology’s shares from a “b-” rating to a “c” rating in a Wednesday, October 26 research note.

Seagate Technology Price Performance

NASDAQ:STX shares opened at $54.57 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt ratio of 46.44. The company has a market capitalization of $11.27 billion, a P/E ratio of 10.49, a PEG ratio of 22.37 and a beta of 1.09. Seagate Technology has a 52-week low of $47.47 and a 52-week high of $117.67. The company has a 50-day moving average price of $55.34 and a 200-day moving average price of $69.86.

Seagate Technology (NASDAQ:STX – Get Rating) last released its quarterly results on Wednesday, October 26. The data storage provider reported earnings per share (EPS) of $0.37 for the quarter, missing analyst consensus estimates of $0.52 per ($0.15). Seagate Technology achieved a net margin of 10.89% and a return on equity of 716.97%. The company posted revenue of $2.04 billion for the quarter, versus analyst estimates of $2.11 billion. In the same quarter a year earlier, the company posted earnings of $2.27 per share. Seagate Technology revenue was down 34.7% year over year. Research analysts predict that Seagate Technology will post earnings per share of 1.99 for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5. Investors of record on Wednesday, December 21 will receive a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 20. This represents an annualized dividend of $2.80 and a dividend yield of 5.13%. Seagate Technology’s payout ratio is 53.85%.

Hedge funds weigh in on Seagate technology

Several hedge funds and other institutional investors have recently changed their positions in STX. Oakworth Capital Inc. acquired a new position in Seagate Technology in Q2 worth $29,000. Hallmark Capital Management Inc. bought a new stake in Seagate Technology stock in Q2 for about $32,000. Ronald Blue Trust Inc. purchased a new stake in Seagate Technology stock in Q2 for a value of approximately $33,000. West Branch Capital LLC purchased a new stake in Seagate Technology stock in Q2 for approximately $35,000. Finally, Janiczek Wealth Management LLC increased its position in Seagate Technology shares by 286.4% in the second quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider worth $43,000 after buying 401 additional shares in the last quarter. Institutional investors and hedge funds hold 83.07% of the company’s shares.

Seagate Technology Company Profile

(Get a rating)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands and internationally. It provides large capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video hard drives, and image storage and network storage drives.

Recommended Stories

Analyst Recommendations for Seagate Technology (NASDAQ: STX)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Seagate Technology, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Seagate Technology wasn’t on the list.

While Seagate Technology currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

The global dragline excavator market is expected to grow by USD 722.22 million during the period 2022-2026, accelerating at a CAGR of 3.14% during the forecast period



Global Dragline Excavator Market 2022-2026 Analyst is watching Dragline Excavator Market and it is poised to grow by $722. 22 mins during 2022-2026, accelerating to a CAGR of 3.

New York, Nov. 18, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Dragline Excavator Market 2022-2026” – https://www.reportlinker.com/p06360262/?utm_source=GNW
14% over the forecast period. Our Dragline Excavators Market report provides comprehensive analysis, market size and forecast, trends, growth drivers, and challenges, and vendor analysis covering approximately 25 vendors.
The report offers an up-to-date analysis of the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growth of the global construction industry, the development of healthcare facilities and disaster prevention projects, and the growth of the rental market.
The dragline excavator market analysis includes type segment and geographical landscape.

The Dragline Excavator Market is segmented as follows:
By type
• Diesel-mechanical
• Diesel-electric hybrid

By geographical landscape
• North America
• Europe
• The Middle East and Africa
• South America

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Formerly homeless tenants face eviction in Bankers Hill as landlord raises rent


Dozens of formerly homeless tenants of the Occidental hotel face eviction if they don’t meet the rent increase.

SAN DIEGO — Dozens of Bankers Hill tenants are once again facing homelessness at the Occidental Hotel in Bankers Hill, where the new owner has raised his rent.

Tenants said they were devastated and rallied against their rent increases with the help of Tenants United and People Assisting The Homeless (PATH).

For many, their rent is now over $1,000. Many are elderly, disabled, on fixed incomes and homeless before moving into hotels and cannot afford the 10% or more in rent.

“I was scared. Scared. I’m not going to live in my car anymore,” said current tenant Julie Munson.

Almost two years ago, Steve Langal couldn’t afford to pay rent. He went from life on the streets to an Alpha Project tent. With Father Joe’s help, he was able to rent a room at Western Hotel in the 400 block of Elm Street.

“I live off Social Security and barely pay rent now,” Langal said.

His new home is at the Occidental Hotel in a single room known as SRO for low income people.

Many are 250 square foot furnished rooms with a shared bathroom or toilet.

“I’m not asking for the Taj Mahal, and I know I won’t get it here. But still, I like having my place,” Langal said.

United Tenantsan advocate for affordable and safe housing, legally represents the dozens of Occidental Hotel tenants and fights against what they see as illegal reviews and bullying.

“There are a series of problems. The reviews themselves are invalid for a number of reasons,” said Rafael Bautista, Tenants United. “Receiving this notice is almost like a deathblow because tenants have nowhere to go.”

Tenants also say they are being bullied by management and that amenities such as cable have been taken down. They believe the rooms are being converted to Airbnb.

Records show that the Occidental Hotel was sold in June for Surf Cowboy LLC.

CBS 8 tried to enter the hotel to speak to a representative, but the door was locked. CBS 8 emailed and called the office and got no response.

Tenants said management gave them a lawyer’s business card to discuss rent issues. Listed on the card was Rachael Callahan, ESQ. with San Diego evictions. A call and an email were not returned.

There’s a bigger problem with the lack of ORS in San Diego. ORS is essential in the transition from homelessness, but it is disappearing in San Diego.

PATH found this year there are 462 units in buildings that have been sold, for sale or lost in San Diego; that’s more than 400 people likely to live on the streets.

“The reality is that when you take these units off the market, they don’t get replaced; there is no level of affordability equal to what already existed,” said Kalei Levy, housing supervisor at PATH.

CBS 8 contacted of Mayor Gloria office, but they sent us back to Chairman of the Board Sean Elo-Rivera. He said this problem was near his home.

“During my freshman year in San Diego, my first semester of law school, I had been living in my car for several weeks. And Occidental is the SRO I stayed in to qualify for the finals,” Elo-Rivera said.

We asked the chairman of the board about the issue, and he says that while it won’t help western tenants, he is working to protect and add ORS in any Civic core redevelopment.

“Part of what I’ve asked for is an assessment of the inclusion of SROs in this redevelopment; we need more. Again, this is a critical rung on the housing ladder,” Elo-Rivera said.

Mr. Langal says that despite being disabled, he will not stop climbing this ladder.

“If you can survive living on the streets, you can survive just about anything. I don’t know if I can say I can survive this bullshit. But I’m just going to say I’m going to do my best,” Langal said.

CBS 8 contacted the San Diego Housing Commission, working with the city council on an ordinance to better protect SRO, but that does not include rent control. It stalled in 2021.

The Commission said that “proposed changes to the SRO Ordinance remain under review, subject to presentation to the Land Use and Housing Committee and, if approved, to City Council. No date has been set for the presentation to the committee.

The Commission also said the Occidental single-occupancy property is a market rate property that is subject to State Assembly Bill 1482, signed into law in 2019, which limits rent increases to 5% plus the percentage change in the cost of living for the region in which the property is located, or 10%, whichever is lower.

WATCH RELATED: Golden Hall Shelter in Downtown San Diego Temporarily Closed Due to Roof Leak

Blunt Wrap Market 2022 to 2028 Industry Products and Top Companies – BnB Enterprise, Durfort Holdings SA, Marijuana Packaging, Slimjim Online


MarketsandResearch.biz published a report on Global Blunt Wraps Market from 2022 to 2028. The Blunt Wrap Market provides in-depth analysis of the market overview, share, size, and growth prospects that impact market growth. The report analyzes the factors influencing the market from the demand and supply side. The report offers key drivers, restraints, and opportunities, along with a detailed analysis of the Blunt Wrap market.

Apart from this, the report demonstrates the comprehensive qualitative and quantitative analysis of revenue, key developments, historical data, and fundamental approaches that the leading companies have adopted in the Blunt Wrap market. The report offers analysis of major vendors and company revenue shares to provide a more comprehensive overview of market players in the Blunt Wrap market.

DOWNLOAD FREE SAMPLE REPORT: https://www.marketsandresearch.biz/sample-request/283520

The study provides a comprehensive analysis of the global Blunt Wrap market by type and application segments and regions. The report covers a comprehensive analysis of different industry growth approaches which helps to determine the predominant segments and know various factors. The report also includes Blunt Wrap market dynamics scenario along with opportunities for market growth in the coming years.

The report also provides an in-depth analysis of different types and applications of Blunt Wrap, which precisely makes it useful for making important business decisions. The study covers market share comparison, value, volume, and revenue comparison for each of the type and application.

Different types of Blunt Wrap covered in this report are

  • Flavored Blunt Wraps
  • Flavorless Blunt Wraps

The various applications covered in the report are

  • the tobacco
  • Recreational Cannabis

Another important analysis covered in this report is that of key data from manufacturers. This section covers company profiles of all major Blunt Wrap Market players along with data such as market share, production, sales, revenue, growth, etc.

The key players covered in this report are

  • BnB Company
  • Durfort Holdings SA
  • Marijuana packaging
  • Slimjim online
  • Smokers paradise

ACCESS FULL REPORT: https://www.marketsandresearch.biz/report/283520/global-blunt-wrap-market-2022-by-manufacturers-regions-type-and-application-forecast-to-2028

The report also provides global Blunt Wrap consumption data.

The major countries covered in this report are

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
  • South America (Brazil, Argentina, Colombia and rest of South America)
  • Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

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E-mail: [email protected]

Join Fireside Chat with reAlpha CEO, President on Nov. 30 at 12 p.m. ET


IPO edge and the Palm Beach Hedge Fund Association will host a fireside chat with reAlpha on Wednesday, Nov. 30 at 12 p.m. ET to discuss the company’s business model and points of differentiation, competitive advantage, why fractional ownership is attractive to individual investors, what markets are most attractive to STRs and the creativity of reAlpha marketing to drive investor education and brand awareness. The live event will feature reAlpha Founder and CEO Giri Devanur and Chairman Jorge Aldecoa, joined by John Jannarone, IPO Edge Editor and editor Jarrett Banks in a moderated video session lasting approximately 60 minutes, including a Q&A with the audience.

To register, CLICK HERE

reAlpha will address:

● Business model and points of differentiation

● Short-term rental market opportunity and development plans

● Technological advantage

● Democratization of real estate investment

● Marketing to drive investor education and brand awareness

● Airbnb industry dynamics and recent statistics

● Global interest from 83 countries

About the speakers:

Giri Devanur: Founder and CEO

Giri Devanur is our President, CEO and became a member of our Board of Directors in April 2021. Giri Devanur is a representative of ReAlpha Tech Corp on the Board of Directors, which was founded in November 2021. He is a serial entrepreneur and an experienced CEO who has been involved in capital planning and investor presentations as a senior executive of various issuers, all of which are now private. He has over 25 years of experience in the information technology industry. Previously, he served as CEO of AMERI Holdings, Inc., a global SAP consulting company where he became CEO and member of its board of directors in May 2015. AMERI Holdings, Inc. was listed on the Nasdaq during his tenure. of Mr. Devanur as CEO. in November 2017. Following Mr. Devanur’s departure from AMERI Holdings, Inc., the company went private in January 2020 and is therefore no longer listed on NASDAQ.

Previously, he founded WinHire Inc., a company in India, in 2010, an innovative company that builds software products through technology and human capital management experts and combines them with professional services. In 2013, WinHire, Inc. merged with Ameri Holdings, Inc. In 1997, he co-founded Ivega Corporation, an international IT consulting firm specializing in financial services, which merged with TCG in 2004, creating a differentiator focused on the person of more than 1,000 people in the computer consulting space. Mr. Devanur served as Managing Director of TCG, an India-based company until 2005. Giri Devanur holds a Masters in Technology Management from Columbia University and a Bachelors in Computer Engineering from the University of Mysore, India. He has completed executive education programs at the Massachusetts Institute of Technology and Harvard Law School.

Jorge Aldecoa: President, reAlpha Homes

Prior to joining reAlpha, Mr. Aldecoa served as Vice President of Operations for Transcendent Electra and Chief Broker for Transcendent Electra Realty & BUSB Realty. In these roles, he led the creation and implementation of a property management platform to facilitate the acquisition and management of 2,200 newly built single-family rental homes. Previously, Aldecoa served as Chief Investment Officer and Interim Chief Operating Officer at Firm Capital American Realty Partners (DELAF). Mr. Aldecoa also served as Regional Vice President at Invitation Homes (Nasdaq: INVH), where he led the property management of a $1 billion portfolio. Mr. Aldecoa received his Bachelor of Science degree with a major in real estate management and residential development from Florida State University.

About reAlpha:

reAlpha is a first-of-its-kind digital real estate investment platform that empowers its members to simplify wealth-building opportunities through investments in the $1.2 billion short-term rental industry. reAlpha researches and evaluates wholesale market properties using a proprietary AI-powered algorithm called reAlphaBRAIN. It then predicts each property’s viability for the short-term rental market, as well as the long-term projected value. reAlpha’s business plan will eventually allow investors to buy equity in specific properties, providing opportunities for short-term passive income generation through Airbnb, as well as equity-focused capital appreciation. reAlpha is based in Dublin, Ohio. For more information, visit www.invest.realpha.com/.



Daniella Parra

[email protected]

Twitter: @IPOEdge

Instagram: @IPOEdge

Vection Technologies will present at the dbVIC – Deutsche Bank ADR Virtual Investor Conference on November 16, 2022


PERTH, Australia, November 14, 2022 (GLOBE NEWSWIRE) — Vection Technologies Limited (ASX: VR1, OTC: VCTNY), a growing company focused on harnessing 3D data through powerful extended reality interfaces that promote collaboration and learning, increase sales and more, today announced that its CEO, Mr. Gianmarco Biagi and CSO & CMO, Mr. Gianmarco Orgnoni, will present at dbVIC – Deutsche Bank American Depositary Receipt (ADR) Virtual Investor Conference on November 16. This virtual investor conference is exclusively aimed at introducing investors to global companies with ADR programs.

It will be a live, interactive online event where investors are invited to ask questions of the company in real time. If attendees are unable to join the live event on the day of the conference, an archived webcast will also be available after the event.

Investors are recommended to pre-register and run the online system check to expedite participation and receive event updates.

Participation is free.

Company Highlights

  • Acceleration of revenue growth – recorded strong revenue growth over the past four years, with a CAGR of 140%. Revenue growth has accelerated over the last twelve months, with FY22 revenue increasing 440% compared to FY21 audited for $18.7 million.
  • Growing industryVection Technologies operates in the fast-growing metaverse trend, an industry with an estimated market opportunity of over $1 trillion in annual revenue1.
  • State-of-the-art proprietary technology – To respond to this rapidly growing sector, Vection Technologies continues to invest in the development of its suite of proprietary metaverse-related technology solutions and services, called INTEGRATEDXR®.
  • Global presence to serve multinational clients – Over the past four years, the Company has expanded its operational presence through Asia Pacific, Europethe Middle Eastand the WE
  • Partner with some of the biggest names in enterprise technologyVection Technologies has partnered and established business relationships with some of the biggest names in the technology and consulting industry. These include Cisco’s Webex, NTT Data, DXC Technology and Accenture.
  • Path to Emerging Profitability – The company has invested significantly over the past four years to expand its technology portfolio to enable its global growth strategy. As the company continues its growth trend, it expects to significantly improve its underlying EBITDA result and increase its profitability in the next fiscal year.
  • Well funded and growing with key investors – The Company has ~$14 million in liquid2 and counts shareholders including the Italian government and HTC Vive.
  • Acquisitions – Over the past four years, Vection Technologies has successfully completed several accretive acquisitions to strengthen its technology and business foundations to support its global expansion plans. The Company is in discussion with several potential targets to continue its growth trajectory and exceed its objectives over the next 12 and 24 months.

About Vection Technologies

Vection Technologies is a growing business-focused company that helps businesses bridge the physical and digital worlds. We help organizations leverage their 3D data through powerful extended reality (X-ray) interfaces that promote collaboration and learning, increase sales and more.

Vection Technologies is listed on the Australian Securities Exchange (ASX) with stock code VR1, and trades on the WE over the counter (OTC) markets under the symbol VCTNY.

For more information, visit: www.vection-technologies.com

About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading exclusive investor conference series that provides an interactive forum for publicly traded companies to pitch directly to investors.

Providing a real-time investor engagement solution, VIC is uniquely designed to provide companies with more efficient access to investors. Replicating the components of an onsite investor conference, VIC provides companies with enhanced capabilities to connect with investors, schedule targeted one-on-one meetings, and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences deliver top-notch investor communications to a global network of retail and institutional investors.

Vection Technologies Limited:
Dan Ridsdale – Managing Director, TMT
E-mail: [email protected]
Gianmarco Biagi – Managing Director (Based in Europe)
E-mail: [email protected]
Call: +39 051 0142248
Gianmarco Orgnoni – Director and COO (Based in Australia)
E-mail: [email protected]
Call: +61 8 6380 7446
Virtual conferences for investorsJohn M. ViglottiSVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
[email protected]

1 Source: https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/opportunities-in-the-metaverse.pdf
2 Like a September 30, 2022.

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Source: Virtual Investor Conferences

2022 GlobeNewswire, Inc., source Press Releases

Xerox Holdings Corporation – Consensus Indicates Potential Downside -16.5%


Xerox Holding Company with ticker code (XRX) now have 6 total analysts covering the stock. The consensus rating is ‘Underperform’. The target price ranges between 15 and 10 by calculating the average target price we see 12.47. Now, with the previous closing price of 14.94, this now indicates that there is downside potential of -16.5%. The 50 day moving average now sits at 14.93 and the 200 moving average now moves to 17.35. The market cap of the company is $2,401 million. For more information, visit: https://www.xerox.com

The potential market capitalization would be $2,004 million based on market consensus.

You can now share it on Stocktwits, just click on the logo below and add the ticker in the text to be seen.

Xerox Holdings Corporation, a workplace technology company, designs, develops and sells document management systems and solutions in the United States, Europe, Canada and internationally. It offers solutions for the workplace, including monochrome, color and multifunction desktop printers; digital printing presses and light production devices and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions and digitization services. The company also offers graphic communication and production solutions; and IT services, end-user computing devices, network infrastructure, communications technology, and a range of managed IT solutions, such as technology product support, professional engineering, and business robotic process automation. Additionally, it provides FreeFlow with a portfolio of software solutions for automating and integrating print job processing including file preparation, final production and electronic publishing; XMPie, a personalization and communication software that meets the needs of omnichannel communication customers; DocuShare, a content management platform for capturing, storing and sharing print and digital content; and CareAR, an enterprise augmented reality company. Additionally, the company sells paper products and large format systems. The Company sells its products and services directly to customers through its direct sales force, as well as through independent agents, resellers, value-added resellers, systems integrators and marketplaces. of e-commerce. Xerox Holdings Corporation was founded in 1906 and is headquartered in Norwalk, Connecticut.

American Homes 4 Rent (NYSE:AMH) downgraded by StockNews.com to “Sell”


American Homes 4 Rent (NYSE:AMH – Get a Rating) was downgraded by StockNews.com research analysts from a “hold” rating to a “sell” rating in a research report released Friday to clients and investors.

Other equity research analysts have also recently published research reports on the company. Goldman Sachs Group cut its price target on American Homes 4 Rent from $42.00 to $35.00 and set a “neutral” rating for the company in a Tuesday, October 18 report. Royal Bank of Canada lowered its price target on American Homes 4 Rent from $40.00 to $37.00 and set an “outperform” rating for the company in a research report Monday. Jefferies Financial Group lowered its price target on American Homes 4 Rent shares from $45.00 to $38.00 and set a “buy” rating on the stock in a Wednesday, October 19 research note. Oppenheimer began covering American Homes 4 Rent in a research note on Monday, July 18. They issued a “market performance” rating and a price target of $35.00 for the company. Finally, Barclays cut its price target on American Homes 4 Rent shares from $44.00 to $41.00 and set an “overweight” rating for the company in a Thursday, October 6 research note. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned the stock a strong buy rating. According to MarketBeat.com, American Homes 4 Rent currently has an average rating of “Moderate Buy” and an average price target of $39.60.

American Homes 4 Rent Stock Performance

AMH shares were down $0.45 during Friday trading hours, hitting $32.05. 2,781,447 shares of the company were traded, with an average volume of 2,577,948. The company has a fifty-day moving average price of $33.04 and a 200-day moving average price of $35.35. The stock has a market capitalization of $11.17 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.41 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt ratio of 0.61. American Homes 4 Rent has a 12 month minimum of $29.31 and a 12 month maximum of $44.07.

Insider activity

In other news, COO Bryan Smith sold 5,519 shares of the company in a trade that took place on Thursday, September 15. The stock was sold at an average price of $35.67, for a total transaction of $196,862.73. Following the sale, the COO now owns 81,287 shares of the company, valued at approximately $2,899,507.29. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, COO Bryan Smith sold 5,519 shares of the company in a trade dated Thursday, September 15. The stock was sold at an average price of $35.67, for a total value of $196,862.73. Following the completion of the transaction, the COO now owns 81,287 shares of the company, valued at $2,899,507.29. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director Kenneth M. Woolley sold 10,000 shares in a trade that took place on Friday, August 26. The shares were sold at an average price of $36.69, for a total transaction of $366,900.00. Following completion of the transaction, the administrator now directly owns 20,128 shares of the company, valued at approximately $738,496.32. The disclosure of this sale can be found here. Company insiders own 6.03% of the company’s shares.

Institutional entries and exits

Several hedge funds have recently changed their AMH holdings. Charter Oak Capital Management LLC bought a new position in American Homes 4 Rent stock in the second quarter worth about $31,000. Raymond James Trust NA increased its stake in American Homes 4 Rent by 15.9% in the second quarter. Raymond James Trust NA now owns 6,129 shares of the real estate investment trust worth $217,000 after purchasing an additional 842 shares during the period. National Bank of Canada FI increased its stake in American Homes 4 Rent shares by 11,168.2% during the first quarter. National Bank of Canada FI now owns 111,330 shares of the real estate investment trust worth $4,822,000 after purchasing an additional 110,342 shares last quarter. During the second quarter, TD Asset Management Inc. purchased a new stock position in American Homes 4 Rent valued at $814,000. Finally, BW Gestao de Investimentos Ltda. increased its stake in shares of American Homes 4 Rent by 101.6% in the second quarter. BW Gestao de Investimentos Ltda. now owns 125,000 shares of the real estate investment trust worth $4,430,000 after purchasing an additional 63,000 shares in the last quarter. Hedge funds and other institutional investors hold 88.49% of the company’s shares.

About American Homes 4 Rent

(Get a rating)

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and “American Homes 4 Rent” is fast becoming a nationally recognized brand for rental homes, known for its high quality, good value for money and satisfied tenants. We are an internally managed Maryland Real Estate Investment Trust, or REIT, focused on acquiring, developing, renovating, leasing and operating attractive single-family homes as rental properties.

Featured articles

Analyst Recommendations for American Homes 4 Rent (NYSE:AMH)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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Colorado couple retired early and built a net worth of $1.5 million


Debbie Emick recalls the moment that changed her outlook on money forever.

In 2014, shortly after she and her husband Chris gave birth to their second daughter, Debbie received bad news: the symptoms of a chronic illness discovered in 2012 were worsening. Nonetheless, she was determined to pursue her career as an elementary school teacher and continue to earn an income to help support her young family.

That is until a colleague asked if Debbie would be attending a professional development opportunity over the weekend. Debbie hesitated.

If it was a question of money, Debbie’s colleague assured him, don’t worry, there would be an allowance.

“I remember that little click,” Debbie said. “And I think I told him out loud that I don’t need more money. I need more time.”

Debbie and Chris Emick.

Courtesy of Debbie and Chris Emick

Debbie quit her job later in 2014, and the Emicks, who had planned to retire in their mid-60s, began to refocus their financial priorities. “I was just beginning to realize that I was working towards a retirement that I may never enjoy,” says Debbie.

The couple, who live in Rocky Ford, Colorado, have cut spending, increased their savings and started investing heavily in real estate. By 2019, they were earning enough from their properties that Chris could also quit his job as a network engineer.

In the four years from 2016 to 2019, the couple acquired 19 rental units. When they retired in 2019, each aged 40, annual rental income from their properties was $45,000. These days, between a mix of investments, savings and real estate, Debbie and Chris, now 43, boast a net worth of around $1.5 million.

A first focus on savings: “I just wanted to have enough money to pay the bills”

Saving and budgeting came naturally to the Emicks, who credit their early family life with instilling healthy money values.

Debbie grew up around farms and ranches in the “middle of nowhere”, before her parents divorced and she was forced to move around a lot. “There was some financial insecurity that shaped my behaviors and values ​​around money,” she says.

I just wanted to have enough money to pay my bills.

This usually meant focusing on the here and now rather than saving for distant financial goals. “I just wanted to have enough money to pay my bills,” she says.

When Debbie graduated from college and earned a salary of $24,000, she focused on paying off student loans and car payments. She hoped she would have enough left over to cover repairs if her Chevy Malibu broke down.

Debbie and Chris Emick.

Jackson’s House Movies

Chris, meanwhile, has always been determined to be a millionaire. Also a farm boy, Chris grew up with his grandparents, who he says instilled some Depression-era savings habits. “I was always preparing for an emergency or worst-case scenario,” he says.

At 21, he read “The Millionaire Next Door” and realized that a life of diligent savings could put him on the path to financial prosperity. “I just got the idea in my head that there’s no way someone with a million dollars could be in trouble.”

Increase savings: “We took seriously the fact of having a real budget”

By the time Debbie decided to quit her job, the couple had paid off all their debts except for their mortgage. After 18 years in the computer industry, Chris was earning just over a six-figure salary.

Yet, with the family on the verge of losing Debbie’s $32,000 salary, plus the pension she would have received after 20 years of teaching, Chris and Debbie were forced to re-examine their finances. “That’s when we decided to have a real budget,” says Debbie.

The Emick family.

Courtesy of Debbie and Chris Emick

Chris expected to make big changes to his lifestyle, but found that saving more money just meant being more intentional about his spending. He remembers a few cuts in addition to giving up the take-out breakfast and lunch he usually had at work.

The couple found their values ​​revolved around travel, family and good healthy food, Chris says, which allowed them to rule out many potential expenses like new clothes, jewelry and makeup that ” would not change our happiness indicator”.

On a monthly basis, the Emicks were taking 50% to 60% of Chris’ salary, they said.

Buying rental properties: ‘Pretty fast and furious’

Despite the cuts, the Emicks weren’t comfortable with just one source of income. Chris feared losing his job would put the family in dire straits, he says.

They decided to test owning real estate and purchased two rental properties in 2016 for a combined down payment of $60,000. They took the money out of the $90,000 they had in savings.

In the beginning, owning was hard work. The properties they bought “had a bit of an ugly duckling quality,” Debbie says. The couple spent nights and weekends renovating them to prepare for tenants.

Debbie and Chris Emick sitting outside their home in Colorado.

Jackson’s House Movies

The work paid off. The rent collected from the tenants of the first two properties far exceeded the mortgage payments on the house and allowed Chris and Debbie to imagine things on a grander scale: rental properties, they realized, could be the main way for the family to earn money, rather than supplementing Chris’ salary.

“We both thought, ‘What if you want to quit your job one day? What if this isn’t how we want things to be forever?'” Debbie says. “That thought easily turned into, ‘How can we use our money to save time?'”

The Emicks invested all of the monthly savings, along with the profits they earned from tenants, into buying more real estate. Between 2016 and 2019, the couple purchased 19 units across 17 properties in Colorado and Memphis, Tennessee.

“That was really the trajectory. So it’s been four pretty fast and furious years of doing that,” Chris says.

Take advantage of the flexibility of early retirement

Although they quit their day jobs, the Emicks are still very busy. Together, they manage their investment properties, which today provide income — net of taxes, insurance and other expenses — of $4,000 to $6,000 a month.

Debbie spends one month a year selling a specialized type of drought insurance for ranchers, which brings in about $23,000 in commissions a year.

For the Emicks, retiring isn’t so much about not working as it is about reversing the traditional work-life balance.

Instead of having a job where I would work 48 weeks a year and have four weeks off, I would now say that I probably work four weeks a year and have 48 weeks off.

“Instead of having a job where I would work 48 weeks a year and have four weeks off, I would now say I probably work four weeks a year and have 48 weeks off,” Chris explains.

The couple continues to save and invest. They spend between $2,500 and $3,000 a month and lately invest the rest in a combination of retirement and investment accounts, a health savings account and various cash accounts. In total, they have about $740,000 in reserve.

They were also able to pursue passions. Debbie wrote a book and took up surfing. And together, Debbie and Chris launched “Go Bucket Yourself”, an online community for young retirees, which organizes events and retreats planned by the couple.

As for what’s next, “we really appreciate that freedom to connect, to travel, and to explore,” says Chris.

And as to the genesis of it all, Debbie says her health has improved dramatically since the decision to leave her at 9-5.

“I don’t know what the percentage would be, but dramatically since I quit my job,” she says. “Both because I don’t have this daily stress, but also because it left me time and energy to work on myself. [not only] physically, but also mentally and emotionally.”

Want to earn more and work less? Register for free CNBC Make It: Your Money Virtual Event on December 13 at 12 p.m. ET to learn from money masters like Kevin O’Leary how you can increase your earning power.

Don’t miss: This joint early retirement strategy is a ‘terrible idea’, says financial planner

CITIC Telecom International: CTM Obtains 5G License No. 1 – 5G Service Expected to Launch on November 14


(11 Nov 2022, Hong Kong) – CITIC Telecom International Holdings Limited (“CITIC Telecom” or the “Group”; stock code: 1883), Asia-Pacific’s leading Internet-oriented multinational telecommunications company providing comprehensive services, announced its subsidiary Companhia de Telecomunicações de Macau, SARL (“CTM”) obtained the no. 1 5G network operating license for 8 years issued by Macao SAR government on Nov 7, 2022. CTM has formulated various 5G plans which are expected to be launched on Nov 14.

CTM has been striving to provide the citizens of Macau with quality telecommunications service and achieved 5G indoor and outdoor full coverage on which the download speed could reach 1.6 Gbps in on-site testing. The network supports NSA and SA standards, providing customers with stable and high-quality 5G network service experiences.

Regarding green sustainability, CTM has deployed an intelligent power management system for 5G cell sites with environmental protection in mind.

Mr. XIN Yue Jiang, Chairman of CITIC Telecom, said, “We are honored to become the 5G network operator in Macao. This achievement is another recognition after the 4G license was issued by the Macao SAR government in 2015. CITIC Telecom expresses its sincere gratitude to the Macao SAR government and the people of Macao for their trust and support to CTM .With a deep-rooted foundation and extensive service in Macau, the group has achieved 5G network coverage and will soon launch quality 5G plans, strived to accelerate digital transformation, develop a higher level of city intelligent, finally realizing a new chapter of digitization in Macau.”


CITIC Telecom International Holdings Ltd. published this content on November 11, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on November 11, 2022 02:31:07 UTC.

AvantStay cuts 22% of its workforce in latest round of layoffs


United States: AvantStay, the first Los Angeles-based next-generation hotel platform, announced another round of layoffs, cutting its workforce by 144 people [22 per cent of its overall team].

This is AvantStay’s second round of layoffs this year, after it underwent a ‘gradual reorganisation’ of the company in July which saw 43 ‘job cuts’ made at the time.

Writing a letter to affected employees today [9 November]co-founders Sean Breuner and Reuben Doetsch admitted the announcement that nearly a quarter of the company’s workforce was being cut made it “the toughest day in AvantStay’s history” and agreed responsibility for the decisions that preceded the move.

Despite the ramp-up over the past year, including growth through acquisitions and innovations in every department of the company, the founders attributed the layoffs to “overhiring for the world we find ourselves in” and said the timing of a return to the old ways was “uncertain”.

Promising to take steps for controlled growth in the future, Breuner and Doetsch said they had identified two areas where they could have made better decisions to prepare for uncertain economic shocks:

They said: “We have forecast our business growth into a more bullish market without enough slack for downward pressure. We hired for four times the growth and tripled with over $200 million in bookable revenue, but we expected more. While the hospitality industry continues to outperform, we have still not been able to meet our lofty growth aspirations for the hiring plan we have proposed.

“Operating costs have exploded and increased faster than expected. We were aggressively innovating across all areas of the business and realized we were doing too much, consequently leading to operational inefficiencies across the business that we should have addressed earlier.” they added.

Employees affected by the layoffs will be supported by AvantStay during their severance period, including reception severance packages, health coverage until the end of the year, career coaching via a dedicated LinkedIn group and access to an employee assistance program, while all employee travel credits will be extended throughout 2023. Additionally, AvantStay said it was committed to an effort to “eliminate waste and reduce non-essential initiatives,” but that it will would provide advice and other forms of assistance to outgoing staff upon their departure.

After weathering the aftermath of the Covid-19 pandemic and huge shifts in hotel demand, AvantStay has grown its team to over 700 people in the US and around the world.

In early 2022, AvantStay emerged from a $160m Series B funding round and in February the operator closed a $500m PropCo funding round led by real estate advisory firm and asset management company, Saluda Grade, because it prioritized hyper growth and innovation. . Within six months, it had achieved more than three times its year-over-year growth and added more than $100 million in revenue, in addition to “aggressively” seeking acquisition opportunities,… onboard new owners and acquire new properties through its PropCo real estate investment trust [REIT].

Going into the second half of the year, the company said it found itself in “a very different economic climate” than it faced at the start of 2022, such as structural inflation, geopolitical shocks , energy shortages, rising interest rates, shrinking capital budgets and dwindling start-up funding have gripped AvantStay and the broader sectors of short-term rentals, real estate and hospitality.

To meet the current global economic challenges, AvantStay is positioning itself to meet the strong demand for domestic travel by continuing to serve existing owners and guests, while increasing its growth discipline with “efficient and accretive cash flow strategies.”

The company said it had increased revenue by more than 200% in the past year and set a record for booking revenue in the past 30 days, fueling optimism about the continued resilience of the hospitality industry. short term rental after Covid.

Breuner and Doetsch said, “As we have experienced in the past, times of economic uncertainty have made us stronger and will continue to force us to adapt and evolve in any environment. We are ready for the road ahead and have positioned AvantStay to excel in this uncertainty. Storms strengthen tree roots, and that’s what we focus on: strong, powerful roots.

Like AvantStay, other property management companies have made the decision to cut jobs in 2022.

Sonder announced in June that it was laying off 21% of its enterprise team and 7% of its frontline staff, WanderJaunt shut down operations in July and laid off around 85 employees in the process, Frontdesk reduced its workforce by around 3.5% as part of a corporate “restructure”, and Portland-based Vacasa recently cut 280 jobs – around 3% of its total US workforce – following a number of important board changes.

Founded in 2017, AvantStay currently operates in over 100 cities with over 1,500 properties in its diverse portfolio. Over the past three months, the operator has also added former Invitation Homes CEO Fred Tuomi to its board and appointed Ankur Jain as chief financial officer. [CFO] to strengthen his senior team.

How to avoid surprise car rental fees



Brad Cross expected to pay just $350 for a Honda Accord he rented in June for four days from Avis in Salt Lake City. Instead, the car rental company harassed him with a surprise charge of $2,974 on his credit card.

“Avis said the rental was extended to a one-way rental and discontinued in another state,” says Cross, a software developer from Maple Grove, Minn. “But it wasn’t me.”

The charge, it turns out, was a mistake (more on that later), but customers are being hit with more “surprise” car rental charges these days — some intentional, some not.

Gone are the days of simple and transparent fees. Hidden fees – also known as junk fees – have recently drawn the ire of President Biden, who has promised to crack down on them while traveling and beyond.

What is it like to rent a car with Turo

But there are ways to avoid these higher fees. Whether it’s an erroneous bill like Cross’s or unexpected smaller charges, here are some tips.

What are the most common car rental costs?

Car rental costs have increased by 14% this year, according to JD Power. Fees range from fees to offset the cost of renting at an airport to fuel and insurance surcharges. Here are the most common fees.

Additional driver fee: If there is more than one driver, your car rental agency may charge an additional fee. The company may waive the fee if it is your spouse or if you are a frequent renter.

Fuel Purchase Options: Car rental companies will offer to fill the tank at a higher price so you can avoid having to refuel before returning it. You can avoid these costs by filling the tank yourself. Also note that rental companies do not reimburse you for unused fuel.

Insurance: Agents at the counter will try to sell insurance to customers. And it’s a hard sell. They may tell you that your auto insurance policy isn’t good enough or that your credit card won’t cover you – both are usually wrong. Additional insurance can sometimes double the cost of your rental. To avoid this upsell, read your cardholder agreement or auto insurance policy to make sure you’re covered.

Unwanted charges: These can include airport concession fees (which cover the fees the company pays to operate at the airport), license recovery fees (which cover the cost of registering and registering an a car) and even a tire disposal fee. You can’t negotiate these charges on your bill, but they’re usually disclosed before your rental so you can avoid places that charge them.

Avoid renting at the airport

One of the biggest complaints from travelers is the extras added to the bills for concessions or airport transportation. These are not new, but airports are increasing them almost constantly. Airports charge car rental companies for these and sometimes use the money to build car rental facilities. Last year, Honolulu International Airport opened a new $377 million car rental facility funded by an additional $4.50 added to each tenant’s bill.

“Airport concession fees can increase your bill by up to 20%,” says Roger Broussard, a frequent traveler who publishes a site for pilots.

His advice for lowering his car rental bill: “Avoid renting a car at the airport,” he advises.

You can use the courtesy van to drive to your hotel and rent from there. Or you can carpool to an off-site location, although this cost may be more than the additional cost of the rental at the airport. Keep in mind, however, that some car rental agencies near the airport also charge a feeso you’ll have to pay attention to the fine print.

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Try the “pay now” option

One way to avoid cost overruns is to set a price before renting the car. You can book through an opaque site like hot wire, which offers “Hot Rate” prepaid rentals, allowing you to choose a rental location but not the agency, which is revealed after you book. The price you see is the total price you will pay. The risk exists that you get a rental agency with bad reviews.

“To avoid surprises, you can use the ‘pay now’ option when booking a car,” advises Julie Flores, vice president of operations at Motorway tariff, a car rental technology company. “Not only will you see exactly what the final taxes and fees will be, avoiding any surprises, but you can also get a modest discount by prepaying for the rental.”

Dave Dzurick, a retired broadcast engineer from Tucson, recently discovered EconomyBookings.com, a site offering several prepaid options. He used it to rent a Hertz sedan in Victoria, Canada.

“I paid for everything upfront and there were no surprises,” he says.

But there’s a catch: “pay now” fares, while sometimes cheaper than “pay later,” can be non-refundable.

Tales of the rental car apocalypse: how travelers are coping

Take photos of your vehicle

Travelers say car rental companies add a lot of “gotcha” fees after the rental. For example, when Shanna Schultz dropped off her Sixt rental car in Paris after a family vacation, her company tried to charge her an extra $200 for a missing trunk lid. Fortunately, Schultz is a travel consultant and knows the pitfalls of renting. She had taken video of the entire rental when she picked it up.

“I showed the rental car company the video footage of the rental car,” she says. “This showed that the trunk lid in question had not been in the vehicle to begin with.”

The car rental company dropped its claim.

She says taking photos of your rental is the best way to avoid a car rental bill surprise. “Before you even put your luggage inside, make a video,” she advises. “Inside, outside, up and down – you never know where they’ll say the load is coming from.”

Can Avis fix this extra cost?

When Cross called Avis about the nearly $3,000 fee, the company asked for his receipt. But Cross had already thrown away the receipt. He did, however, have a gas receipt that put him close to the airport on the day of his return. It wasn’t enough.

“Unfortunately, we have not found any discrepancies in our system regarding the return date,” Avis said in an email. “At this time, we are unable to make corrections or issue a credit to your account.”

I asked Avis to review his case. Turns out they had confused Cross’s rental with someone else’s vehicle. The company apologized for the misunderstanding and credited his card with $2,624.

Cross has been persistent, which may be the most effective way to avoid paying surprise car rental charges. He kept disputing his bill, with a little help from me, until someone finally agreed to pay the charge.

Top 5 Dividend Stocks Investors Should Never Sell


There are many investment strategies that can help you build wealth over time, but few have had lasting success quite like buying dividend stocks.

Companies that regularly pay a dividend to their shareholders (whether monthly, quarterly, semi-annually or annually) are generally profitable, have transparent long-term growth prospects and have demonstrated their ability to navigate difficult economic environments.

Even more important is the fact that dividend stocks have historically outperformed non-paying stocks over long periods. A 2013 report from JP Morgan Asset Management found that companies that initiated and increased their payouts over a 40-year period (1972-2012) produced an average annual return of 9.5%. By comparison, stocks that did not pay out a dividend worked their way to an annualized return of 1.6% between 1972 and 2012.

Image source: Getty Images.

While no two dividend stocks are created equal, some income stocks are truly in a class of their own. Here are five dividend-paying stocks investors can buy and never sell.

Johnson & Johnson: yield of 2.64%

Early leading income equity investors can buy and never worry about selling is healthcare giant Johnson & Johnson (JNJ 0.50%). While its 2.6% return may seem trivial, consider that J&J has increased its base annual payout for 60 consecutive years. Only a handful of publicly traded companies can claim a longer active streak.

Helping Johnson & Johnson meet the needs of its long-term shareholders are both macro-economic and company-specific. For the former, the health sector is a fundamental necessity. No matter how dire things may seem for the economy or the US stock market, people keep getting sick or needing preventative care. This provides stable earnings and operating cash flow for a healthcare company the size of J&J.

On an operational basis, Johnson & Johnson is built like a fine wine. Its pharmaceutical segment offers the higher margins and growth needed to move the needle now, while its medical technology segment is well positioned to provide sustainable organic opportunities as the domestic and global population ages.

If you need another good reason to hang on to J&J, consider this: it has a higher credit rating than the US federal government.

US Bancorp: return of 4.48%

A second, higher dividend-paying stock that can be purchased and held in perpetuity is American bank (USB 1.47%), the parent company of the well-known American bank. Even though banking stocks are cyclical, and therefore exposed to the ebbs and flows of the US economy, US Bancorp has two characteristics that make it an infallible dividend payer.

First, the management of US Bancorp has done an excellent job of steering this regional bank away from potential financial potholes. While most money banks were attracted to riskier derivative investments before the financial crisis (2007-2009), US Bancorp largely avoided these riskier bets. By focusing on growing its loans and deposits, US Bancorp has consistently delivered above-average return on assets among major banks.

The other factor working in favor of US Bancorp is digital engagement trends. Arguably, no major bank has managed to get its users to bank online or through a mobile app. There is a big difference in cost between in-person or phone interactions and digital sales. As more customer transactions move online, US Bancorp is able to consolidate some of its physical branches and become more operationally efficient.

Banks are known for their strong capital return programs, and US Bancorp’s 4.5% return does not disappoint.

A small pyramid of tobacco cigarettes placed on a thin layer of cured tobacco.

Image source: Getty Images.

Philip Morris International: return of 5.65%

The third best dividend stock investor should never have to sell is tobacco stock Philip Morris International (PM 1.76%). Although consumer education on the dangers of smoking/using tobacco products has challenged the traditional tobacco operating model, Philip Morris has catalysts in its sails that keep the needle in the right direction .

The biggest advantage this company brings to the table is its geographic diversity. The company’s products, which include the premium Marlboro brand outside the United States, are sold in more than 180 countries. If tobacco regulations are tightening in a developed market, there is likely an emerging market that compensates for this weakness.

To add to this point, tobacco products contain nicotine, an addictive chemical. The addictive nature of tobacco products allows Philip Morris to pass on price increases that exceed any volume declines it might face.

Philip Morris is also investing in its future. The ongoing rollout of its IQOS heated tobacco system provides a fast-growing new revenue stream that can offset declining shipments of traditional cigarettes.

York Water: return of 1.75%

A fourth blue chip dividend stock to buy and never sell is water utility York Water (YORW -0.69%). While its 1.75% return might not be much to look at on the surface, I promise this company makes up for it in other ways.

The beauty of utility stocks is that they provide a basic service. Whether you own or rent, you will need water and sewage services. Additionally, your choice of utility provider is often limited to one or two companies. The key point here is that York Water can accurately forecast annual operating cash flow, as water and wastewater demand does not change much from year to year in the 51 municipalities it serves. in south-central Pennsylvania.

Additionally, York Water is a regulated utility. This means it needs approval from the Pennsylvania Public Utility Commission to raise its customers’ rates. While not being able to raise rates at any time might seem like bad news at first glance, it’s quite the opposite. Regulated utilities avoid uncertainties related to the wholesale prices of the underlying product with which they deal.

And did I mention that this little-known water utility has the longest consecutive active streak of dividend payments in the United States among publicly traded companies? York has paid consecutive dividends since 1816, which is 206 years (and counting).

Enterprise Product Partners: 7.62% return

The fifth and final dividend stock investors should never sell is an oil and gas company Enterprise Product Partners (EPD 0.08%). Enterprise Products’ 7.6% return is the high point on this list, and the company has increased its base annual distribution in each of the past 24 years.

While some of you may be hesitant to invest your money in oil stock after seeing what happened to the industry in 2020, Enterprise Products Partners mostly avoided the perils that plagued drillers. This is because it is a middleman company. It operates transmission pipelines, storage tanks and processing facilities that transport and store energy products.

The why Enterprise has been such a long-term success is his contracts. Midstream companies rely on long-term, fixed-fee or volume-based agreements that produce exceptionally predictable cash flows. Even if crude oil and natural gas prices fluctuate wildly, Enterprise can accurately forecast its operating cash flow in any given year. This is important because midstream companies need to disburse capital for new infrastructure projects, acquisitions and their distribution to shareholders.

As the demand for energy infrastructure is expected to increase in the years and decades to come, Enterprise Products Partners is in the sweet spot for growth in the energy sector.

Blavity Inc.’s AfroTech Conference Reveals Top List


LOS ANGELES, Nov. 06, 2022 (GLOBE NEWSWIRE) — Blavity Inc.the company behind AfroTech, 21Ninety, Travel Noire, Shadow and Act and Blavity News, today revealed the lineup for the AfroTech Conference – a global gathering of inclusive technology companies and innovators. This year’s event expands to Austin, bringing together more than 300 brands and thousands of black professionalsmany of which shape Equity Initiatives and DEI at America’s Largest Companies including Amazon, vmware, Google, American Express, Selling power, Apple, Difference, dream city,Intuitive and Shopify and more. AfroTech Conference returns in person, November 13-17, 2022, at the Austin Convention Center.

The AfroTech conference will also host key innovators and entrepreneurs from the technology, entertainment and business sectors. This year, the AfroTech conference will also feature its inaugural music experience, with special musical performances by down, bias, MELA, DJ MOMA, Chef Cleopatra, Zaytoven, The Trio of Sauces, and more, including a performance of Wales to Official AfroTech Party.

Highlights include:

  • NASCAR driver Bubba Wallace will speak in partnership with DoorDash discuss strategies to thrive while being the First, being the Only, and being Different in your industry, company or board.
  • Rapper and businessman Chamillionaire will take the stage with Silicon Valley Bank to share his journey from rap star to successful founder and investor. He will discuss his entrepreneurial ventures, investment philosophy, and how he works to make the tech ecosystem more inclusive and accessible to the Black community.
  • Marc CubanGovernor of the Dallas Mavericks professional basketball team National Basketball Associationco-founder of Mark Cuban Cost Plus Drug Company and investor on ABC’s Shark Tank, Haywood L. Perry III and Ansley Carlisle of Mark Cuban Companies will share information about their journeys to entrepreneurship and how they support founders and emerging investors today.
  • Creative director, activist and fashion designer Aurora James will be joined on stage by the CEO and founder of Blavity Morgan DeBaun to discuss how to hold companies accountable.

Web3 companies and startups will have the opportunity to pitch their company and product(s) to be voted on in the final, where they will compete to win a grand prize of $50,000 at the AlphaNoire™ Web3 pitch contest final. disney will host a screening of Black Panther: Wakanda Forever, which will begin with a fireside chat with the star of Black Panther: Wakanda Forever Dominique Thorne (Riri Williams).

“We continue to tackle the diversity divide in Big Tech and AfroTech Conference serves as a destination for those fueling more inclusivity in the industry. As we return in person, our mission remains the same: to further build the Black Silicon Valley helping fast-growing companies effectively hire Black professionals and close the wealth gap,” said Morgan DeBaun, CEO and Founder of Blavity Inc. “We are excited to announce our largest lineup of speakers and diverse brand partners who seek to engage in meaningful discussions about technological disruption and black innovation. I am excited about the insights, funding, and career advancement that will come from this experience and look forward to enhance the celebration with our first-ever music festival from Afro-Latin and Black artists.

More than 100 speakers will attend this year’s AfroTech conference, which will cover hot topics such as: Securing the Bag: Navigating Technology from Cradle to Career; Climbing to the top of the technological ladder for engineers and managers; Web3, Crypto and the Dark Economy: Unlocking Inclusive Access with a New Wave of Commerce; Inclusive product design: what it is and why it matters, and more.

The programming news follows the conference’s recently announced move to Austin, TX to accommodate the thousands of attendees expected to experience the AfroTech conference in person for the first time in two years.

The AfroTech 2022 conference will see the activation of new and existing partners this year, including VISA, Riot Games, Meta, In effect, Selling power, Technology Unit, Intuitive, Expedia Group, Apple, Dell, DoorDash, American Express, Difference, Amazon, and more.

The full agenda for the AfroTech 2022 conference is now online HERE – The program will include panels and Q&A with speakers such as:

  • Marc CubanGovernor of the Dallas Mavericks professional basketball team National Basketball Associationco-founder of Mark Cuban Cost Plus Drug Company and investor on ABC’s Shark Tank
  • Bubba Wallace, driver – NASCAR with DoorDash
  • Anré Williams, Chief Executive Officer of American Express National Bank and President of Business Services Group – American Express
  • Cristina Jones, Engagement Office Manager – Salesforce.org
  • Krista Bourne, COO – Verizon Consumer Group
  • Arlan Hamilton, Founder and Managing Partner – Backstage Capital
  • Benjamin Bronfman, Founder and CEO – Electric Tree
  • Nikki Forman, Amazon DEI Global Communications Manager – Amazon
  • Rob Collier, General Manager – Rally
  • Aurora James, Founder and Director – Fifteen Percent Pledge, Brother Vellies
  • Ruben Harris, President and CEO – Career Karma Inc.
  • Chelsea Roberts, Chief Operating Officer – HBCU Venture Capital
  • Daquan Oliver, Founder and CEO – WeThrive Education
  • Samir Goel, co-founder and co-CEO – Esusu
  • Felecia Hatcher, CEO – Black Ambition
  • Frederick Hutson, President and CEO – Pigeonly
  • Hope Wiseman, Founder and CEO – WISECO
  • Iman Abuzeid, MD, Co-Founder and CEO – Incredible Health
  • Isaac Addae, Ph.D., Chief Strategy Officer – Pivot Technology School
  • Julia Collins, Founder and CEO – Planet FWD
  • Melissa Bradley, Founder – 1863 Ventures
  • Travis Holoway, Co-Founder and CEO – Solo Funds
  • Telva McGruder, Director of Diversity, Equity and Inclusion – General Motors
  • Tanya Van Court, Founder and CEO – Goalsetter
  • Jasmine Crowe-Houston, Founder and CEO – Goodr

To purchase your tickets for the AfroTech 2022 conference, please visit https://experience.afrotech.com/tickets/and to stay up to date with speaker announcements and entertainment, follow @afro.tech on Twitter.


Blavity Inc. is a technology and news media company founded in 2014 around a simple idea: to empower black millennials to tell their own stories. Today, we’re home to the largest network of lifestyle platforms and brands serving Black Millennials and Gen Z through original content, videos and unique experiences. The company has become a leader in the black media market, reaching over 250 million millennials per month through our growing portfolio of brands, including Blavity News, 21Ninety, AfroTech, Travel Noire, Shadow & Act and Blavity TV.

Journalists interested in covering the event can request credentials here. Please note that an application does not guarantee entry.

Contact information:
Metro public relations
[email protected]

Elisabeth Schmidt
Vice President of Marketing and Communications
[email protected]

This content was published via the newswire.com press release distribution service.

Regina German “goes home” with the opening of Luling’s office – L’Observateur


Regina German “goes home” with the opening of the Luling office

Posted at 5:00 a.m. on Saturday, November 5, 2022

LULING — Longtime real estate agent Regina H. Allemand feels at home again after the recent grand opening of her new office at 116-B Oak Lane, conveniently located off Highway 90 in Luling.

For more than 30 years, Allemande has been known in all river parishes by its slogan: “Regina – A realtor who cares”. Connecting with each of her clients is important to her, and she was determined to maintain that personal touch after Hurricane Ida damaged the Latter & Blum office in Luling.

“All officers were moved to the Destrehan office, so there was no representation of office space on the west bank of St. Charles Parish,” German said. “I was born in Luling Hospital; that’s where I come from, and that’s my home base. Many of my clients have missed being readily available in a convenient location for them to meet me. Latter & Blum wasn’t going to renew the lease, but they allow agents to have their own personal offices, so here we are today.

Germane was joined by her family, St. Charles Parish officials and representatives of the River Region Chamber of Commerce as she cut the ribbon for her new home. While celebrating a new chapter, she was able to reflect on how real estate has changed her life.

Before becoming a real estate agent, Allemand worked in the wedding industry. She joked that it seemed like the next step – getting married, then buying a house. A positive experience with the real estate agent who helped her buy her house encouraged her to explore a new career. The timing was also good; she had just started her family and real estate offered the flexibility she needed to provide for her children while being present at all stages of their lives.

German began her career at Gardner Realtors and has remained with the company ever since, through several corporate name changes and a merger with Latter & Blum in December 2019.

“What I really love is watching people achieve their dreams, whether it’s getting their own rental, their own business location, their house or their land, whatever their dreams are.” declared German.

According to Allemand, real estate is an ever-evolving industry, constantly swinging between changes in laws, ordinances, interest rates, insurance rates, flooding issues and hurricanes. German remained active at the local and state level to keep abreast of changes in the field. She became involved early on in the local Board of Realtors, originally known as the “Saints” Board of Realtors representing St. John the Baptist, St. James and St. Charles parishes. She was chair of the board for three years and twice named Realtor of the Year.

At the state level, Allemand served on the board of the Louisiana Realtors Association for many years.

“By staying involved in knowing what’s going on in the legislative world, we’re able to stay on top of things that will affect home and property ownership in the area,” German said.

This has included keeping tabs on ordinances and banding together with local, state and national associations of realtors to work with FEMA officials to find better solutions to flood insurance hikes. .

Other organizations German has been involved with include the River Region Chamber of Commerce, St. Charles Women’s Club, and the New Orleans Metropolitan Political Action Team. The areas it serves today include the parishes of River and Bayou, as well as the parish of Jefferson which extends to Orleans.

German can be reached at 504-495-2452.

Zach Bryan offers to cover car rental costs for spectators who have had an accident | New


Zach Bryan has proven himself to be a humble artist with a heart of gold.

There “Something in the OrangeThe singer recently (November 3) lent a helping hand to fans in need, when he found out they had been in a car accident on the way to his show at Red Rocks in Denver, CO.

Spectators were in Iowa when a deer damaged their car. The group took to Twitter to share unfortunate photos and their story.

“@Zachlanebryan halfway to red rocks for tomorrow’s show & smoked a deer in the middle of Iowa,” the ticket holder wrote. “Currently waiting at a kum & go gas station for the Uber in Omaha, then I’m going to rent a car and head to Denver. See you tomorrow good sir.

The singer was quick to respond and offered to cover car rental costs.

“The rental car is on me!” Brian replied. “I’m glad you’re okay.”

Bryan’s kind gesture didn’t go unnoticed, as many followers flocked to the comments to applaud his act of kindness and one Iowa-based fan even donated his truck.

“Class act my man, class act,” said one listener. “We’re coming from Iowa, Colorado for the show, but there’s an extra truck at our farm with the keys in it. Help you ! Travel safe,” said another.

It’s unclear if the dedicated fans continued their journey and made it to the show in time. The concert took place last night, November 3, at the Red Rocks Amphitheater. Harsh weather conditions affected his set and schedule, leaving music lovers in the freezing cold. While navigating the unexpected circumstances, Bryan stayed in touch with his audience and provided valuable resources to warm up.

“Hey guys – tonight’s weather in Morrison, CO is touch & go at the moment, so we’re making some changes to the schedule to keep everyone safe,” he said on Twitter. “We will also have free hand warmers and hot chocolate. BURN, BURN, BURN,” he added.

After the high-energy show, Bryan thanked everyone for attending the blizzard and reflected on the memorable experience at the bucket list location.

“I’m shooting here from drunken hips, but there are no words to describe how beautiful it is that people sat through two hours of blizzard for me. No more words someday, but for l “I just want everyone to know how crazy this whole ride has been. I see you, I’m with you and I love you,” he stressed. “I hope everyone is hot!!!”

The military veteran turned country sensation also lowered the prices of his merchandise in late October, to accommodate exasperated consumers. Bryan is slowly coming to the end of his critically acclaimed headlining tour, which is set to conclude in San Diego on November 11.

The record-breaking artist recently confirmed that new music is on the horizon and a full album will arrive in February. Tickets for the remaining dates are available for purchase, here.

Merrimack Repertory Theater presents A CHRISTMAS CAROL


There is nothing in the world as irresistibly contagious as laughter and good humor. These words of Charles Dickens ring as true today as when they were written. A Christmas Carol by Dickens will be presented by the Merrimack Repertory Theater (MRT) for all audiences. This all-new take on this holiday classic will be adapted and directed by MRT Executive Artistic Director Nancy L. Donahue, Courtney Sale, and will run from November 30 through December 24.

The play will feature Lowell’s story, including Charles DickensThe 1842 trip to the United States when he visited the Lowell Mills and was enchanted by the writings of the mill girls. Inspired by their stories, echoes of the mill girls’ writing appear in Dickens’ most iconic play. As Sale puts it, “What better theater than ours to build that enduring holiday production.”

The play will feature ten child actors from the Greater Lowell area, as well as a professional cast featuring Karen MacDonald (Founding Company Member of American Repertory TheaterMRT’s The Rise and Fall of Holly Fudge), Tom Corner (Law and Order: SVU on screen, MRT’s The 39 Steps), husband Ken Robinson (Summer: The Donna Musical at Broadway, MRT’s The 39 Steps) and his wife Christine Robinson (Summer: The Donna Musical at Broadway, Back Together Again: The Music of Roberta Flack and Donny Hathaway at the MRT and the Dorset Theater Festival), as well as Kyosin Kang (American Spies at the Hub Theatre).

The creative team includes Shelley Barish, of UMass Lowell (UML), Scenic Designer (A Gentleman’s Guide to Love and Murder for lyrical scene Company of Boston, Young Nerds of Color at the Underground Railway Theatre, Central Square Theatre); Becca Jewett, costume designer (A Delicate Balance at Boston University Theater Studio 210, The Human Comedy at Wimberly Theater); Brian Lilienthal, lighting designer (Woody Sez at the MRT); Rob Witmer, Sound Designer (Best Summer Ever at MRT, Dracula at ACT Theatre); Joel Mercier, musical director (current artistic director of the New Hampshire Theater Factory); Maggie McCloskey, youth cast supervisor, Susan Hudspeth, stage manager; Jordan Moore, assistant manager; Sarah Rachael Katz, production assistant. Student matinees have already started to reach capacity as the holiday season approaches.

For tickets and more information, visit www.mrt.org or call the corporate banking office at 978-654-4678. Tickets start at $15 with 2 for $30 specials available for select shows. MRT’s COVID policy requires all guests to wear masks at all times. The theater does not require a vaccine or proof of testing.

After A Christmas Carol, MRT will continue its 44th season with the East Coast premiere of Letters from Home, written and performed by Kalean Ungfrom January 18 to February 5, 2023, as well as How High the Moon: The Music of Ella Fitzgeraldconceived by Rob Ruggiero and featuring Tina FactoryMay 3-21, 2023.

Other discounts are also available for A Christmas Carol, including discounted $15 student tickets to any show, in person, by phone, or online. For Middlesex Community College (MCC) and UML students, $10 tickets are available with proof of student ID required for ticket collection. Recurring discounts include $5 first night, $10 Lowell night plus discounts for educators, groups, military and more. For more information, visit www.mrt.org/discountsandevents or contact the Enterprise Bank office on [email protected] or 978-654-4678.


You should read the following discussion and analysis of our financial condition
and results of operations together with our consolidated financial statements
and related notes thereto, appearing elsewhere in this Quarterly Report on Form
10-Q. In addition to historical financial information, this discussion and
analysis includes forward-looking statements that reflect our plans, estimates
and beliefs and involve risks and uncertainties. As a result of many factors,
including those set forth in the section "Risk Factors" in this Quarterly Report
on Form 10-Q, our actual results may differ materially from those contained in
or implied by any forward-looking statements. The results of operations for the
three and nine months ended October 1, 2022 are not necessarily indicative of
the results for any subsequent periods or the entire fiscal year ending
December 31, 2022.

Our Company

The Company is an industry-leading global designer, manufacturer, and marketer
of a broad portfolio of pool equipment and associated automation systems. With
the pool as the centerpiece of the growing outdoor living space, the pool
industry has attractive market characteristics, including significant
aftermarket requirements, innovation-led growth opportunities, and a favorable
industry structure. We are a leader in this market with a highly-recognized
brand, one of the largest installed bases of pool equipment in the world,
decades-long relationships with our key channel partners and trade customers and
a history of technological innovation. Our engineered products, which include
various energy efficient and more environmentally sustainable offerings, enhance
the pool owner's outdoor living lifestyle while also delivering high quality
water, pleasant ambiance and ease of use for the ultimate backyard experience.
Aftermarket replacements and upgrades to higher value Internet of Things ("IoT")
and energy efficient models are a primary growth driver for our business.

We have an estimated North American residential pool market share of
approximately 34%. We believe that we are well-positioned for future growth. On
average, we have 20+ year relationships with our top 20 customers. Based upon
feedback from certain representative customers and our interpretation of
available industry and government data in the United States, we estimate that
aftermarket sales represented approximately 80% of net sales. Aftermarket sales
are not based upon our GAAP net sales results. We believe aftermarket sales are
generally recurring in nature since these products are critical to the ongoing
operation of pools given requirements for water quality and sanitization. Our
product replacement cycle of approximately 8 to 11 years drives multiple
replacement opportunities over the typical life of a pool, creating
opportunities to generate aftermarket product sales as pool owners repair,
remodel and upgrade their pools.

The Company has nine manufacturing facilities worldwide, which are located in
North Carolina, Tennessee, Rhode Island, Florida, California, Spain (three) and
China, and other facilities in the United States, Canada, France, and Australia.


Our business is organized into two reportable segments: North America ("NAM")
and Europe & Rest of World ("E&RW"). The Company determined its operating
segments based on how the Chief Operating Decision Maker ("CODM") reviews the
Company's operating results in assessing performance and allocating resources.

The NAM segment manufactures and sells a full line of residential and commercial swimming pool equipment and supplies in United States and Canada
and manufactures and sells flow control products worldwide.

The E&RW segment manufactures and sells residential and commercial swimming pool
equipment and supplies in Europe, Central and South America, the Middle East,
Australia and other Asia Pacific countries.

NAM represented 83% and 85% of total net sales for the three months ended
October 1, 2022 and October 2, 2021respectively, and E&RW represented 17% and 15% of total net sales for the three months ended October 1, 2022 and
October 2, 2021respectively.

Factors affecting the comparability of our results of operations

Our results of operations for the three and nine months ended October 1, 2022
and the three and nine months ended October 2, 2021 have been affected by the
following, among other events, which must be understood to assess the
comparability of our period-to-period financial performance and condition.

Our fiscal quarters end on the Saturday closest to the calendar quarter end,
with the exception of year end which ends on December 31 of each fiscal year.
The interim closing dates for the first, second and third quarters of 2022 are
April 2, July 2, and October 1, compared to the respective April 3, July 3, and
October 2, 2021 dates. This resulted in one fewer working day


in the nine months ended October 1, 2022 compared to the nine months ended
October 2, 2021. Throughout this discussion we may refer to the three months
ended October 1, 2022 and the three months ended October 2, 2021 as the "Third
Quarter" and "Comparable Quarter," respectively.

Impact of COVID-19

Residential pool equipment sales increased during the first two years of the
COVID-19 pandemic. This increase in demand was broadly across all of our product
lines as consumers refocused attention on improving the quality of the
homeowner's outdoor living experience. We believe that during this period, the
pandemic reinforced existing pool industry growth trends. As the impact of the
COVID-19 pandemic has lessened, we believe that these trends have somewhat
abated. Although the long-term impact of the pandemic to our business is
unclear, we do anticipate that the industry will resume its more normalized
historical seasonal trends in the post-pandemic environment.

Cost inflation and supply shortages stemming from the COVID-19 pandemic has
caused prices to increase across various sectors of the economy and we have been
impacted by increases in the prices of our raw materials and other associated
manufacturing costs, as discussed in further detail below.

Materials and other cost increases

We have experienced increases in the cost of raw materials and commodities. We
strive for productivity improvements and implement price increases to help
mitigate this impact. We expect to see continuing price volatility (primarily
with respect to metals, resins, and electronic sub-assemblies) and import duty
charges (primarily with respect to motors, electronics, valves and cleaner
products) for some of our raw materials. We are uncertain as to the timing and
impact of these market changes, but have mitigation activities in place to
minimize the impact on costs.

Key Metrics We Use to Evaluate Our Business

We consider a variety of financial and operating measures in assessing the
performance of our business. The key GAAP measures we use are net sales, gross
profit and gross profit margin, selling, general, and administrative expense
("SG&A"), research, development, and engineering expense ("RD&E"), operating
income and operating income margin. The key non-GAAP measures we use are EBITDA,
adjusted EBITDA, adjusted EBITDA margin, adjusted segment income, and adjusted
segment income margin.

For more information on our use of non-GAAP measures and a reconciliation of these measures to the most relevant GAAP measure, see “- Non-GAAP Reconciliation”.


Operating results


The following tables summarize key components of our results of operations for
the periods indicated. We derived the consolidated statements of operations for
the three and nine months ended October 1, 2022 and October 2, 2021 from our
unaudited condensed consolidated financial statements. Our historical results
are not necessarily indicative of the results that may be expected in the
future. The following table summarizes our results of operations:

(In thousands)                                         Three Months Ended                                   Nine Months Ended
                                            October 1, 2022           October 2, 2021           October 1, 2022           October 2, 2021
Net sales                                 $        245,267          $        350,624          $      1,055,169          $      1,049,409
Cost of sales                                      137,483                   188,170                   567,626                   559,033
Gross profit                                       107,784                   162,454                   487,543                   490,376
Selling, general, and
administrative expense                              50,493                    68,807                   188,297                   207,129
Research, development, and
engineering expense                                  6,142                     6,370                    16,411                    16,187
Acquisition and restructuring
related expense                                      2,288                       783                     9,499                     2,452
Amortization of intangible assets                    8,521                     8,700                    23,828                    26,162
Operating income                                    40,340                    77,794                   249,508                   238,446
Interest expense, net                               13,938                    11,050                    35,105                    42,297
Loss on debt extinguishment                              -                         -                         -                     9,418
Other (income) expense, net                           (234)                    2,087                     3,056                     4,655
Total other expense                                 13,704                    13,137                    38,161                    56,370
Income from operations before
income taxes                                        26,636                    64,657                   211,347                   182,076
Provision for income taxes                           3,549                    14,336                    47,968                    42,072
Net income                                $         23,087          $         50,321          $        163,379          $        140,004
Adjusted EBITDA (a)                       $         60,427          $         98,329          $        314,313          $        316,035

(a) See “- Non-GAAP Reconciliation”.

Net sales

Net sales decreased to $245.3 million for the three months ended October 1, 2022
from $350.6 million for the three months ended October 2, 2021, a decrease of
$105.3 million or 30.0%. See the segment discussion below for further

Net sales increased to $1,055.2 million for the nine months ended October 1, 2022 of $1,049.4 million for the nine months ended October 2, 2021an augmentation of $5.8 million or 0.5%. See segment discussion below for more information.


The year-over-year increase (decrease) in net sales was driven by the following factors:

                                              Three Months Ended      Nine Months Ended
                                               October 1, 2022         October 1, 2022
Volume                                                   (43.6) %               (14.7) %
Price, net of discounts and allowances                    12.0  %                15.2  %
Acquisitions                                               2.6  %                 1.4  %
Currency and other                                        (1.0) %                (1.4) %
Total                                                    (30.0) %                 0.5  %

The decrease in net sales for the three months ended October 1, 2022 was
primarily the result of a decline in volume, partially offset by increases in
price and the favorable impact of acquisitions. The decline in volume was
primarily the result of distribution channel destocking as supply chain pressure
eases, lead times normalize, and the industry starts to return to the
pre-pandemic seasonal trend of lower sales activity in the third quarter.
Macroeconomic uncertainty, particularly geopolitical factors in Europe, also
contributed to the decline in volume.

The increase in net sales for the nine months ended October 1, 2022 was driven
by increases in price and acquisitions, partially offset by decreases in volume
and the unfavorable impact of foreign currency translation. The increase due to
price reflects the cumulative impact of a number of announced price increases to
mitigate escalating inflationary cost pressures as well as lower sales
incentives to channel partners. The decline in volume was primarily the result
of channel inventory destocking due to inventory accumulation by distributors in
excess of near-term consumer demand, poor weather in seasonal markets in North
America, and lower net sales in Europe due to geopolitical and other economic

Gross profit and gross profit margin

Gross profit decreased to $107.8 million for the three months ended October 1,
2022 from $162.5 million for the three months ended October 2, 2021, a decrease
of $54.7 million or 33.7%.

Gross profit margin decreased to 43.9% for the three months ended October 1,
2022 compared to 46.3% for the three months ended October 2, 2021, a decrease of
239 basis points primarily due to the decline in volume resulting in lower
operating leverage. The gross margin decrease included a decrease of 108 basis
points due to a non-cash increase in cost of goods sold resulting from the fair
value inventory step-up adjustment recognized as part of the purchase accounting
for the specialty lighting business of Halco Lighting Technologies, LLC, which
includes the brands J&J Electronics and Sollos (the "Specialty Lighting

Gross profit decreased to $487.5 million for the nine months ended October 1,
2022 from $490.4 million for the nine months ended October 2, 2021, a decrease
of $2.9 million, or 0.6%.

Gross profit margin decreased to 46.2% for the nine months ended October 1, 2022
compared to 46.7% for the nine months ended October 2, 2021.

Selling, general and administrative expenses

Selling, general, and administrative expense (SG&A) decreased to $50.5 million
for the three months ended October 1, 2022 from $68.8 million for the three
months ended October 2, 2021, a decrease of $18.3 million or 26.6%, primarily as
a result of lower incentive based compensation, selling and distribution and
warranty expenses. The Comparable Quarter also included a patent infringement
litigation settlement.

As a percentage of net sales, SG&A increased to 20.6% for the three months ended
October 1, 2022 as compared to 19.6% for three months ended October 2, 2021, an
increase of 96 basis points driven by reduced operating leverage.

SG&A decreased to $188.3 million for the nine months ended October 1, 2022 from
$207.1 million for the nine months ended October 2, 2021, a decrease of $18.8
million or 9.1%. During the nine months ended October 2, 2021, we incurred
higher incentive compensation, including stock-based compensation expenses, as a
result of Hayward's initial public offering (the "IPO") and incurred one-time
expenses related to the fire in Yuncos, Spain.

As a percentage of net sales, SG&A decreased to 17.8% for the nine months ended
October 1, 2022 as compared to 19.7% for nine months ended October 2, 2021, a
decrease of 189 basis points driven by the elevated costs incurred in the prior
year as discussed above.

Research, development and engineering costs


Research, development, and engineering expense (RD&E) remained approximately
consistent at $6.1 million for the three months ended October 1, 2022 compared
with $6.4 million for the three months ended October 2, 2021.

As a percentage of net sales, RD&E was 2.5% for the three months ended
October 1, 2022 compared to 1.8% for the three months ended October 2, 2021an increase of 69 basis points.

RD&E remained approximately consistent at $16.4 million for the nine months
ended October 1, 2022 compared with $16.2 million for the nine months ended
October 2, 2021. As a percentage of net sales, RD&E was relatively flat at 1.6%
for the nine months ended October 1, 2022 compared to 1.5% for the nine months
ended October 2, 2021.

Charges related to acquisition and restructuring

For the three months ended October 1, 2022, we incurred $2.3 million of
acquisition and restructuring related expense as compared to $0.8 million of
expense for the three months ended October 2, 2021. The expense in the Third
Quarter was primarily related to costs associated with the corporate
headquarters relocation from New Jersey to North Carolina and the
reduction-in-force executed during the quarter, compared to the Comparable
Quarter which only had costs associated with the corporate relocation.
Additionally, during the three months ended October 1, 2022, the Company
initiated an enterprise cost reduction program to address the current market
dynamics and maintain the Company's strong financial metrics. The initial focus
was on a reduction of variable costs with specific attention to eliminating cost
inefficiencies in our supply chain and reducing variable labor in our production
cost base. In addition to these variable cost reductions, the Company identified
structural selling, general and administrative cost reduction opportunities
totaling $25 million to $30 million in 2023, with initial savings of
approximately $8 million to be realized in 2022.

For the nine months ended October 1, 2022, we incurred $9.5 million of
acquisition and restructuring related expense as compared to an expense of $2.5
million for the nine months ended October 2, 2021. The nine months ended
October 1, 2022 included transaction costs associated with the acquisition of
the Specialty Lighting Business, costs associated with the reduction-in-force,
and costs associated with the corporate relocation, compared to the nine months
ended October 2, 2021, which primarily had costs pertaining to the exit from our
leased facility in Chandler, Arizona, as well as the costs from the corporate

See Note 16. Acquisitions and restructurings.

Amortization of intangible assets

For the three and nine months ended October 1, 2022 and October 2, 2021
amortization of intangible assets decreased $0.2 million and $2.3 millionrespectively, due to the amortization rate of certain intangible assets using the declining balance method.

Operating result

For the three and nine months ended October 1, 2022 and October 2, 2021
operating profit decreased $37.5 million and increased $11.1 millionrespectively, due to the aggregate effect of the elements described above.

Interest expense, net

Interest expense, net, carried to $13.9 million for the three months ended
October 1, 2022 of $11.1 million for the three months ended October 2, 2021.

Interest expense for the three months ended October 1, 2022 consisted of $13.2
million of interest on the outstanding debt and $0.8 million of amortization of
deferred financing fees. The effective interest rate on our borrowings,
including the impact of an interest rate hedge, was 5.04% for the three months
ended October 1, 2022.

Interest expense for the three months ended October 2, 2021 consisted of $10.5
million of interest on the outstanding debt and $0.5 million of amortization of
deferred financing fees. The effective interest rate on our borrowings,
including the impact of an interest rate hedge, was 4.42% for the three months
ended October 2, 2021.

Interest expense increased by $2.9 million for the three months ended October 1,
2022 primarily due to variable rate increases on the Company's First Lien Term
Facility and outstanding borrowings on the ABL Revolving Credit Facility,
partially offset by decreased interest expense on the interest rate swaps.

For the nine months ended October 1, 2022interest charges, net, reduced to
$35.1 million of $42.3 million for the nine months ended October 2, 2021.

Interest expense decreased by $7.2 million mainly driven by the repayment of the debt of $364.6 million and lower interest rates due to debt refinancing activity completed in the first half of 2021.


Interest expense for the nine months ended October 1, 2022 consisted of $33.0
million of interest on the outstanding debt and $2.3 million of amortization of
deferred financing fees. The effective interest rate on our borrowings,
including the impact of an interest rate hedge, was 4.37% for the nine months
ended October 1, 2022.

Interest expense for the nine months ended October 2, 2021 consisted of $39.6
million interest on the outstanding debt and $2.8 million of amortization of
deferred financing fees. The effective interest rate on our borrowings, net of
the impact of the interest rate hedges, was 5.17% for the nine months ended
October 2, 2021.

Loss on extinguishment of debt

There was no loss on extinguishment of debt for the three and nine months ended
October 1, 2022. The $9.4 million loss on extinguishment of debt for the nine
months ended October 2, 2021 was incurred due to the debt refinancing activity
in the first half of 2021.

Provision for income taxes

We incurred income tax expense of $3.5 million for the three months ended
October 1, 2022 compared to an income tax expense of $14.3 million for the three
months ended October 2, 2021, a decrease of $10.8 million or 75.2%. This was
primarily due to decreased income from operations, discrete items resulting from
the revaluation of deferred tax liabilities as a result of state tax law changes
and the tax benefit resulting from the exercise of stock options.

The decrease in the Company's effective tax rate from 22.2% for three months
ended October 2, 2021 to 13.3% for the three months ended October 1, 2022 was
primarily due to discrete items relating to a tax benefit due to the exercise of
stock options and state tax law changes.

We incurred income tax expense of $48.0 million for the nine months ended
October 1, 2022 compared to $42.1 million for the nine months ended October 2,
2021, an increase of $5.9 million. This was primarily due to increased income
from operations.

The decrease in the Company's effective tax rate from 23.1% for the nine months
ended October 2, 2021 to 22.7% for the nine months ended October 1, 2022 was
primarily due to discrete items relating to a tax benefit due to the exercise of
stock options and state tax law changes.

Net revenue

As a result of the foregoing, net income decreased $27.2 million and increased
$23.4 million for the three and nine months ended October 1, 2022 and October 2,
2021 respectively.

Adjusted EBITDA and Adjusted EBITDA margin

Adjusted EBITDA decreased to $60.4 million for the three months ended October 1,
2022 from $98.3 million for the three months ended October 2, 2021, a decrease
of $37.9 million or 38.5%, driven primarily by lower net sales resulting in a
decrease in gross profit of $54.7 million.

Adjusted EBITDA margin decreased to 24.6% for the three months ended October 1,
2022 compared to 28.0% for the three months ended October 2, 2021, a decrease of
341 basis points.

Adjusted EBITDA decreased to $314.3 million for the nine months ended October 1,
2022 from $316.0 million for the nine months ended October 2, 2021, a decrease
of $1.7 million or 0.5%, driven by a decrease in gross profit of $2.9 million
and a decrease in the adjustments for the non-cash and specified costs discussed
below in "- Non-GAAP Reconciliation."

Adjusted EBITDA margin decreased to 29.8% for the nine months ended October 1,
2022 compared to 30.1% for the nine months ended October 2, 2021, a decrease of
33 basis points.

See “- Non-GAAP Reconciliation” for a reconciliation of these measures to the most directly comparable GAAP measure.



The Company manages its business primarily on a geographic basis. The Company's
reportable segments consist of NAM and E&RW. We evaluate performance based on
net sales, gross profit, segment income and adjusted segment income, and we use
gross profit margin, segment income margin and adjusted segment income margin as
comparable performance measures for our reporting segments.

Segment income represents net sales less cost of sales, segment SG&A and RD&E. A
reconciliation of segment income to our operating income is detailed below.
Adjusted segment income represents segment income adjusted for the impact of
depreciation, amortization of certain intangible assets, stock-based
compensation and certain non-cash, nonrecurring or other items that are included
in segment income that we do not consider indicative of the ongoing segment
operating performance. See "-Non-GAAP Reconciliation" for a reconciliation of
these metrics to the most directly comparable GAAP metric:

(Dollars in thousands)                                      Three Months Ended                                            Three Months Ended
                                                              October 1, 2022                                               October 2, 2021
                                                 Total                  NAM              E&RW                  Total                  NAM              E&RW
Net sales                                 $           245,267       $   203,674       $    41,593       $           350,624       $   298,236       $    52,388
Gross profit                              $           107,784       $    91,850       $    15,934       $           162,454       $   141,655       $    20,799
Gross profit margin %                                 43.9  %           45.1  %          38.3   %                   46.3  %           47.5  %          39.7   %
Segment income                            $            57,493       $    48,704       $     8,789       $           102,502       $    91,920       $    10,582
Segment income margin %                               23.4  %           23.9  %          21.1   %                   29.2  %           30.8  %          20.2   %
Adjusted segment income (a)               $            65,510       $    56,879       $     8,631       $           109,500       $    98,320       $    11,180
Adjusted segment income margin %
(a)                                                   26.7  %           27.9  %          20.8   %                   31.2  %           33.0  %          21.3   %
Expenses not allocated to segments
Corporate expense, net                    $             6,344                                           $            15,225
Acquisition and restructuring
related expense                                         2,288                                                           783
Amortization of intangible assets                       8,521                                                         8,700
Operating income                          $            40,340                                           $            77,794

(Dollars in thousands)                                       Nine Months Ended                                             Nine Months Ended
                                                              October 1, 2022                                               October 2, 2021
                                                 Total                  NAM              E&RW                  Total                  NAM              E&RW
Net sales                                 $         1,055,169       $   892,050       $   163,119       $         1,049,409       $   863,276       $   186,133
Gross profit                              $           487,543       $   421,725       $    65,818       $           490,376       $   416,753       $    73,623
Gross profit margin %                                 46.2  %           47.3  %          40.3   %                   46.7  %           48.3  %          39.6   %
Segment income                            $           306,844       $   267,854       $    38,990       $           304,848       $   267,020       $    37,828
Segment income margin %                               29.1  %           30.0  %          23.9   %                   29.0  %           30.9  %          20.3   %
Adjusted segment income (a)               $           333,608       $   293,586       $    40,022       $           337,979       $   293,282       $    44,697
Adjusted segment income margin %
(a)                                                   31.6  %           32.9  %          24.5   %                   32.2  %           34.0  %          24.0   %
Expenses not allocated to segments
Corporate expense, net                    $            24,009                                           $            37,788
Acquisition and restructuring
related expense                                         9,499                                                         2,452
Amortization of intangible assets                      23,828                                                        26,162
Operating income                          $           249,508                                           $           238,446

(a) See “- Non-GAAP Reconciliation”.


North America (“NAM”)

(Dollars in thousands)                              Three Months Ended                               Nine Months Ended
                                          October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Net sales                                $      203,674          $      298,236          $      892,050          $      863,276
Gross profit                             $       91,850          $     

141,655 $421,725 $416,753
Gross margin %

                              45.1  %                 47.5  %                 47.3  %                 48.3  %
Segment income                           $       48,704          $       

91,920 $267,854 $267,020
Sector Revenue Margin %

                            23.9  %                 30.8  %                 30.0  %                 30.9  %
Adjusted segment income (a)              $       56,879          $       

98,320 $293,586 $293,282
Adjusted segment profit margin % (a)

                                                27.9  %                 33.0  %                 32.9  %                 34.0  %

(a) See “- Non-GAAP Reconciliation”.

Net sales

Net sales decreased to $203.7 million for the three months ended October 1, 2022
from $298.2 million for the three months ended October 2, 2021, a decrease of
$94.5 million or 31.7%.

Net sales increased to $892.1 million for the nine months ended October 1, 2022
from $863.3 million for the nine months ended October 2, 2021, an increase of
$28.8 million or 3.3%.

Year-over-year net sales increase (decrease) was driven by the following

                                              Three Months Ended      Nine Months Ended
                                               October 1, 2022         October 1, 2022
Volume                                                   (47.1) %               (14.9) %
Price, net of allowances and discounts                    12.4  %                16.7  %
Acquisitions                                               3.2  %                 1.7  %
Currency and other                                        (0.2) %                (0.2) %
Total                                                    (31.7) %                 3.3  %

This decrease for the three months ended October 1, 2022 was primarily the
result of a decline in volume, partially offset by increases in price to offset
inflationary pressure and from reduced sales incentives for the seasonal year to
customers, as well as the favorable impact of acquisitions. The decline in
volume was primarily the result of distribution channel destocking as supply
chain pressure eases, lead times normalize, and the industry starts to return to
the pre-pandemic seasonal trend of lower sales activity in the third quarter of
the calendar year.

The increase for the nine months ended October 1, 2022 was primarily due to the
cumulative impact of a number of announced price increases during the last 21
months that became fully effective in the second quarter to mitigate the
escalating inflationary cost pressures from the global supply chain and a
favorable impact from acquisitions, partially offset by a decrease in volume
driven by factors discussed above and cool and wet spring weather in the first
half of the year in weather effected seasonal markets, namely the Midwest,
Northeast and Canada.


Gross profit and gross profit margin

Gross profit decreased to $91.9 million for the three months ended October 1,
2022 from $141.7 million for the three months ended October 2, 2021, a decrease
of $49.8 million or 35.2%.

Gross profit margin decreased to 45.1% for the three months ended October 1,
2022 from 47.5% for the three months ended October 2, 2021, a decrease of 240
basis points. Gross margin decreased 128 basis points due to a non-cash increase
in cost of goods sold resulting from the fair value inventory step-up adjustment
recognized as part of the purchase accounting for the Specialty Lighting
Business. The remaining decrease in gross margin was primarily due to the
decline in volume resulting in lower operating leverage.

Gross profit increased to $421.7 million for the nine months ended October 1,
2022 from $416.8 million for the nine months ended October 2, 2021, an increase
of $4.9 million or 1.2%.

Gross profit margin decreased to 47.3% for the nine months ended October 1, 2022
from 48.3% for the nine months ended October 2, 2021, a decrease of 100 basis
points, primarily driven by the decline in volume resulting in lower operating
leverage combined with the purchase accounting adjustment for the step-up of
inventory to fair value, partially offset by the net price increases discussed

Segment Revenue and Segment Profit Margin

Segment income decreased to $48.7 million for the three months ended October 1,
2022 from $91.9 million for the three months ended October 2, 2021, a decrease
of $43.2 million or 47.0%. This was primarily driven by a decrease in sales and
gross profit as discussed above, partially offset by lower SG&A expense.

Segment income margin decreased to 23.9% for the three months ended October 1,
2022 from 30.8% for the three months ended October 2, 2021, a decrease of 691
basis points.

Segment income increased to $267.9 million for the nine months ended October 1,
2022 from $267.0 million for the nine months ended October 2, 2021, an increase
of $0.8 million or 0.3%. This was primarily driven by a decrease in gross profit
margin percentage as discussed above and higher SG&A expense primarily from
one-time expenses related to the discontinuation of a product joint development
agreement as well as higher distribution and warehousing costs and marketing

Segment income margin decreased to 30.0% for the nine months ended October 1,
2022 from 30.9% for the nine months ended October 2, 2021, a decrease of 90
basis points primarily resulting from decreased gross profit margin as discussed
above and higher SG&A expense.

Adjusted Segment Result and Adjusted Segment Result Margin

Adjusted segment income decreased to $56.9 million for the three months ended
October 1, 2022 from $98.3 million for the three months ended October 2, 2021, a
decrease of $41.4 million or 42.1%. This was driven by the reduced segment
income as discussed above, after adjusting for the non-cash and specified costs
discussed below in "- Non-GAAP Reconciliation."

Adjusted segment profit margin decreased to 27.9% for the three months ended
October 1, 2022 33.0% for the three months ended October 2, 2021, a decrease of 504 basis points. See “- Non-GAAP Reconciliation” for a reconciliation of Segment Earnings to Adjusted Segment Earnings.

Adjusted segment income increased to $293.6 million for the nine months ended
October 1, 2022 from $293.3 million for the nine months ended October 2, 2021,
an increase of $0.3 million or 0.1%. This was driven by the reduced segment
income as discussed above, after adjusting for the non-cash and specified costs
discussed below in "- Non-GAAP Reconciliation."

Adjusted segment income margin decreased to 32.9% for the nine months ended
October 1, 2022 from 34.0% for the nine months ended October 2, 2021, a decrease
of 106 basis points. Refer to "-Non-GAAP Reconciliation" for a reconciliation of
segment income to adjusted segment income.


Europe & Rest of the World (“E&RW”)

(Dollars in thousands)                              Three Months Ended                               Nine Months Ended
                                          October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Net sales                                $       41,593          $       52,388          $      163,119          $      186,133
Gross profit                             $       15,934          $      

20,799 $65,818 $73,623
Gross margin %

                              38.3  %                 39.7  %                 40.3  %                 39.6  %
Segment income                           $        8,789          $       

10,582 $38,990 $37,828
Sector Revenue Margin %

                            21.1  %                 20.2  %                 23.9  %                 20.3  %
Adjusted segment income (a)              $        8,631          $       

11,180 $40,022 $44,697
Adjusted segment profit margin % (a)

                                                20.8  %                 21.3  %                 24.5  %                 24.0  %

(a) See “- Non-GAAP Reconciliation”.

Net sales

Net sales decreased to $41.6 million for the three months ended October 1, 2022
from $52.4 million for the three months ended October 2, 2021, a decrease of
$10.8 million or 20.6%.

Net sales decreased to $163.1 million for the nine months ended October 1, 2022
from $186.1 million for the nine months ended October 2, 2021, a decrease of
$23.0 million or 12.4%.

The year-over-year decreases in net sales are attributable to the following factors:

                                              Three Months Ended      Nine Months Ended
                                               October 1, 2022         October 1, 2022
Volume                                                   (23.4) %               (13.9) %
Price, net of allowances and discounts                     9.5  %                 8.1  %
Currency and other                                        (6.7) %                (6.6) %
Total                                                    (20.6) %               (12.4) %

The decrease in net sales was primarily due to a decline in volume as a result
of geopolitical factors and macroeconomic uncertainty, unfavorable impact of
foreign currency translation, and channel inventory reductions, partially offset
by the favorable impact of price increases.

Gross profit and gross profit margin

Gross profit decreased to $15.9 million for the three months ended October 1,
2022 from $20.8 million for the three months ended October 2, 2021, a decrease
of $4.9 million or 23.4%.

Gross profit margin decreased to 38.3% for the three months ended October 1,
2022 from 39.7% for the three months ended October 2, 2021, a decrease of 139
basis points, primarily driven by the decline in volume resulting in lower
operating leverage and the inflationary impact on cost more than offsetting
price increases.

Gross profit decreased to $65.8 million for the nine months ended October 1,
2022 from $73.6 million for the nine months ended October 2, 2021, a decrease of
$7.8 million or 10.6%.

Gross profit margin increased to 40.3% for the nine months ended October 1, 2022
from 39.6% for the nine months ended October 2, 2021, an increase of 80 basis
points, primarily driven by price increases, favorable customer and product mix,
and quality improvement, despite the volume decline and inflationary impact from
shipping costs, supplies and raw materials.

Segment Revenue and Segment Profit Margin

Segment income decreased to $8.8 million for the three months ended October 1,
2022 from $10.6 million for the three months ended October 2, 2021, a decrease
of $1.8 million or 16.9%. This was primarily driven by a decrease in sales and
gross profit as discussed above, partially offset by lower SG&A expense.

Segment profit margin increased by 93 basis points from 20.2% in the quarter ended October 2, 2021 at 21.1% for the three months ended October 1, 2022resulting from the decline in gross profit margin, as indicated above.


Segment income increased to $39.0 million for the nine months ended October 1,
2022 from $37.8 million for the nine months ended October 2, 2021, an increase
of $1.2 million or 3.1%. This was primarily driven by costs incurred in the nine
months ended October 2, 2021, including one-time expenses related to the fire in
Yuncos, Spain, as well as higher incentive compensation including stock-based
compensation related to the IPO.

Segment profit margin increased by 358 basis points to 23.9% for the nine months ended October 1, 2022 compared to 20.3% for the same period year over year.

Adjusted Segment Result and Adjusted Segment Result Margin

Adjusted segment income decreased to $8.6 million for the three months ended
October 1, 2022 from $11.2 million for the three months ended October 2, 2021, a
decrease of $2.5 million or 22.8%. This was primarily driven by the decreased
sales after excluding the non-cash and specified costs described in "-Non-GAAP
Reconciliation." below.

Adjusted segment profit margin decreased to 20.8% for the three months ended
October 1, 2022 21.3% for the three months ended October 2, 2021a drop of 59 basis points.

Adjusted segment income decreased to $40.0 million for the nine months ended
October 1, 2022 from $44.7 million for the nine months ended October 2, 2021, a
decrease of $4.7 million or 10.5%. This was primarily driven by the decreased

Adjusted segment income margin for the nine months ended October 1, 2022 of
24.5% remained effectively flat compared to the Comparable Quarter of 24.0%.
Refer to "-Non-GAAP Reconciliation" for a reconciliation of segment income to
adjusted segment income.

Non-GAAP Reconciliation

The Company uses EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted
segment income and adjusted segment income margin to supplement GAAP measures of
performance to evaluate the effectiveness of our business strategies. These
metrics are also frequently used by analysts, investors and other interested
parties to evaluate companies in our industry, when considered alongside other
GAAP measures.

EBITDA is defined as earnings before interest (including amortization of debt
costs and loss on extinguishment of debt), income taxes, depreciation, and
amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of
restructuring related income or expenses, stock-based compensation, currency
exchange items, sponsor management fees and certain non-cash, nonrecurring, or
other items that are included in net income and EBITDA that we do not consider
indicative of our ongoing operating performance. Adjusted EBITDA margin is
defined as adjusted EBITDA divided by net sales. Adjusted segment income is
defined as segment income adjusted for the impact of depreciation and
amortization, stock-based compensation, and certain non-cash, nonrecurring, or
other items that are included in segment income that we do not consider
indicative of the ongoing segment operating performance. Adjusted segment income
margin is defined as adjusted segment income divided by segment net sales.

EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted segment income and
adjusted segment income margin are not recognized measures of financial
performance under GAAP. We believe these non-GAAP measures provide analysts,
investors and other interested parties with additional insight into the
underlying trends of our business and assist these parties in analyzing our
performance across reporting periods on a consistent basis by excluding items
that we do not believe are indicative of our core operating performance, which
allows for a better comparison against historical results and expectations for
future performance. Management uses these non-GAAP measures to understand and
compare operating results across reporting periods for various purposes
including internal budgeting and forecasting, short and long-term operating
planning, employee incentive compensation, and debt compliance. These non-GAAP
measures are not intended to replace the presentation of our financial results
in accordance with GAAP. Use of the terms EBITDA, adjusted EBITDA, adjusted
EBITDA margin, adjusted segment income and adjusted segment income margin may
differ from similar measures reported by other companies. EBITDA, adjusted
EBITDA, adjusted EBITDA margin, adjusted segment income and adjusted segment
income margin are not calculated in the same manner by all companies, and
accordingly, are not necessarily comparable to similarly entitled measures of
other companies and may not be an appropriate measure for performance relative
to other companies. EBITDA, adjusted EBITDA, adjusted segment income should not
be construed as indicators of a company's operating performance in isolation
from, or as a substitute for, net income (loss) and segment income which are
prepared in accordance with GAAP. We have presented EBITDA, adjusted EBITDA,
adjusted EBITDA margin, adjusted segment income and adjusted segment income
margin solely as supplemental disclosure because we believe it allows for a more
complete analysis of results of operations. In the future we may incur expenses
such as those added back to calculate adjusted EBITDA.


Our presentation of adjusted EBITDA and adjusted segment income should not be
construed as an inference that our future results will be unaffected by these

Net income on adjusted EBITDA and margin on adjusted EBITDA

Following is a reconciliation from net income to adjusted EBITDA and adjusted
EBITDA margin for the three and nine months ended October 1, 2022 and October 2,

(Dollars in thousands)                                 Three Months Ended                               Nine Months Ended
                                             October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Net income                                  $       23,087          $       50,321          $      163,379          $      140,004
Depreciation                                         4,333                   4,847                  13,931                  14,096
Amortization                                        10,249                  10,405                  28,437                  30,903
Interest expense                                    13,938                  11,050                  35,105                  42,297
Income taxes                                         3,549                  14,336                  47,968                  42,072
Loss on extinguishment of debt                           -                       -                       -                   9,418
EBITDA                                              55,156                  90,959                 288,820                 278,790
Stock-based compensation (a)                            (4)                    484                   1,248                  16,383
Sponsor management fees (b)                              -                       -                       -                      90
Currency exchange items (c)                             52                   1,149                   2,776                   4,379
Acquisition and restructuring related
expense, net (d)                                     2,288                     783                   9,499                   2,452
Other (e)                                            2,935                   4,954                  11,970                  13,941
Total Adjustments                                    5,271                   7,370                  25,493                  37,245
Adjusted EBITDA                             $       60,427          $      

98,329 $314,313 $316,035
Adjusted EBITDA margin

                                24.6  %                 28.0  %                 29.8  %                 30.1  %

(a) Represents non-cash stock-based compensation expense related to issued equity awards

            to management, employees, and directors. Beginning in the three 

months ended July 2nd,

            2022, the adjustment includes only expense related to awards 

issued as part of the 2017

            Equity Incentive Plan, which were awards granted prior to the 

effective date of

            Hayward's initial public offering (the "IPO"), whereas in prior 

periods, the

            adjustment included stock-based compensation expense for all 

stock rewards. Under the

            historical presentation, the stock-based compensation 

adjustment for the three and

            nine months ended October 1, 2022 would have been an expense of 

$1.8 million and $4.7

            million, respectively.

(b) Represents fees paid to certain of the majority shareholders of the Company for services

            rendered pursuant to a 2017 management services agreement. This 

the agreement and the

            corresponding payment obligation ceased on March 16, 2021, the 

effective date of


(c) Represents non-cash unrealized losses (gains) on monetary assets denominated in foreign currencies

            and liabilities and foreign currency contracts.

(d) Adjustments during the three months ended October 1, 2022 are mainly motivated by

            separation costs associated with a reduction-in-force as well 

that the costs associated with

            the relocation of the corporate headquarters. Adjustments in 

the nine months have ended

            October 1, 2022 are primarily driven by transaction costs

associated with the

            acquisition of the Specialty Lighting Business, costs 

related to moving

            of the corporate headquarters, and separation costs associated 

with a

            reduction-in-force. Adjustments in the three and nine months 

ended October 2, 2021 are

            primarily driven by restructuring related costs associated with 

the exit of a

            redundant manufacturing and distribution facility and costs 

associated with the

            relocation of the corporate headquarters.

(e) Adjustments during the three months ended October 1, 2022 mainly includes non-monetary items

            increase in cost of goods sold resulting from the fair value 

increase in inventory

            adjustment recognized as part of the purchase accounting for 

specialized lighting

            Business. Adjustments in the three months ended October 2, 2021 

include a legal framework

            settlement and fees, costs related to a fire at our 

manufacturing and administrative

            facilities in Yuncos, Spain, and operating losses related to an 

product in start-up phase

            business acquired in 2018 that was phased out.

            Adjustments in the nine months ended October 1, 2022 include 

expenses related to

            the discontinuation of a product joint development agreement, a 

non-cash increase of

            cost of goods sold resulting from the fair value inventory 

gradual adjustment

            recognized as part of the purchase accounting for the Specialty 

lighting company, and

            costs incurred related to the selling stockholder offering of 

shares in May 2022,

            which are reported in SG&A in our unaudited condensed 

consolidated statements of

            operations, partially offset by gains resulting from an

insurance policy reimbursement

            related to the fire incident in Yuncos, Spain. Adjustments in 

the nine months have ended

            October 2, 2021 include a write-off related to the 

the aforementioned fire in Yuncos,

            Spain, a legal settlement and fees related to patent 

infringement litigation, costs

            incurred in preparation for the IPO and transaction related 

premiums, costs related to

            our debt refinancing, and operating losses related to an early 

stage product company

            acquired in 2018 that was phased out.


The following is a reconciliation of Segment Earnings to Adjusted Segment Earnings for the three and nine months ended October 1, 2022 and October 2, 2021:

(Dollars in thousands)                              Three Months Ended                               Nine Months Ended
                                          October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Segment income                           $       57,493          $      102,502          $      306,844          $      304,848
Depreciation                                      4,049                   4,428                  13,006                  13,496
Amortization                                      1,728                   1,705                   4,609                   4,740
Stock-based compensation                           (276)                    (92)                    183                   7,904

Other (a)                                         2,516                     957                   8,966                   6,991
Total Adjustments                                 8,017                   6,998                  26,764                  33,131
Adjusted segment income                  $       65,510          $     

109,500 $333,608 $337,979
Adjusted segment profit margin

                     26.7  %                 31.2  %                 31.6  %                 32.2  %

(a) The three and nine month periods ended October 1, 2022 includes a non-cash increase in costs

            of goods sold resulting from the fair value inventory step-up 

recognized adjustment

            as part of the purchase accounting for the Specialty Lighting 

Business, bad debt

            write-offs, and other miscellaneous items we believe are not 

representative of our

            ongoing business operations. The three and nine months ended 

October 2, 2021 to understand

            the impairment related to a fire at our manufacturing and

administrative facilities

            in Yuncos, Spain and operating losses which relate to an early 

stage product

            business acquired in 2018 that was phased out in 2021.

Following is a reconciliation from segment income to adjusted segment income for
NAM for the three and nine months ended October 1, 2022 and October 2, 2021
(dollars in thousands):

NAM                                                    Three Months Ended                               Nine Months Ended
                                             October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Segment income                              $       48,704          $       91,920          $      267,854          $      267,020
Depreciation                                         3,853                   4,253                  12,435                  12,653
Amortization                                         1,728                   1,705                   4,609                   4,740
Stock-based compensation                              (284)                   (126)                     72                   7,318

Other (a)                                            2,878                     568                   8,616                   1,551
Total adjustments                                    8,175                   6,400                  25,732                  26,262
Adjusted segment income                     $       56,879          $       

98,320 $293,586 $293,282
Adjusted segment profit margin

                        27.9  %                 33.0  %                 32.9  %                 34.0  %

(a) The three months ended October 1, 2022 for NAM includes a non-cash increase in costs

            of goods sold resulting from the fair value inventory step-up 

recognized adjustment

            as part of the purchase accounting for the Specialty Lighting 

Company. The three

            months ended October 2, 2021 includes operating losses which 

relate to a beginning

            stage product business acquired in 2018 that was phased out in 


            The nine months ended October 1, 2022 for NAM includes expenses 

associated with the

            discontinuation of a product joint development agreement and a 

non-cash increase of

            cost of goods sold resulting from the fair value inventory 

gradual adjustment

            recognized as part of the purchase accounting for the Specialty 

Lighting company.

            The nine months ended October 2, 2021 include operating losses 

which concern a

            early stage product business acquired in 2018 that was phased 

release in 2021.


Following is a reconciliation from segment income to adjusted segment income for
E&RW for the three and nine months ended October 1, 2022 and October 2, 2021
(dollars in thousands):

E&RW                                               Three Months Ended                               Nine Months Ended
                                         October 1, 2022         October 2, 2021         October 1, 2022         October 2, 2021
Segment income                          $        8,789          $       10,582          $       38,990          $       37,828
Depreciation                                       196                     175                     571                     843
Amortization                                         -                       -                       -                       -
Stock-based compensation                             8                      34                     111                     586

Other (a)                                         (362)                    389                     350                   5,440
Total Adjustments                                 (158)                    598                   1,032                   6,869
Adjusted segment income                 $        8,631          $      

11,180 $40,022 $44,697
Adjusted segment profit margin

                    20.8  %                 21.3  %                 24.5  %                 24.0  %

(a) The three months ended October 1, 2022 for E&RW includes collections of

            reserved bad debt expense related to certain customers impacted 

by the conflict of

            Russia and Ukraine. The three months ended October 2, 2021 

represents the impact of

            a fire at our manufacturing and administrative facilities in 

yuncos, Spain.

            The nine months ended October 1, 2022 for E&RW includes bad 

debt reserves related to

            certain customers impacted by the conflict in Russia and

Ukraine partially offset by

            subsequent collections. The nine months ended October 2, 2021 

represents the effect

            of a fire at our manufacturing and administrative facilities in 

yuncos, Spain.

Cash and capital resources

Our primary sources of liquidity are net cash provided by operating activities and availability under the ABL Revolving Credit Facility (“ABL Facility”).

Primary working capital requirements are for raw materials, component and
certain finished goods inventories and supplies, payroll, manufacturing, freight
and distribution, facility, and other operating expenses. Cash flow from
operations and working capital requirements fluctuate during the year, driven
primarily by the seasonal demand for our products, an early buy program, the
timing of inventory purchases and receipt of customer payments and as such, the
utilization of the ABL Facility fluctuates during the year.

Unrestricted cash and cash equivalents totaled $72.9 million as of October 1,
2022, which is a decrease of $192.9 million from $265.8 million at December 31,

We focus on increasing cash flow, solidifying the liquidity position through
working capital initiatives, and paying our debt obligations, while continuing
to fund business growth initiatives and return of capital to shareholders. We
believe that net cash provided by operating activities and availability under
the ABL Facility will be adequate to finance our working capital requirements,
inclusive of capital expenditures, and debt service over the next 12 months.

Credit facilities

The Senior Term Facility and the ABL Facility (collectively the “Credit Facilities”) contain various restrictions, covenants and collateral requirements. Refer to

Note 7. Long-term debt of the notes to our unaudited condensed consolidated financial statements for further information on the terms of the credit facilities.

Long-term debt consisted of the following (in thousands):

                                                  October 1, 2022       December 31, 2021
First Lien Term Facility, due May 28, 2028       $        987,500      $    


ABL Revolving Credit Facility                             100,000                       -
Finance lease obligations                                   7,050                   7,780
Subtotal                                                1,094,550               1,002,780
Less: Current portion of the long-term debt               (11,957)          


Less: Unamortized debt issuance costs                     (15,591)                (17,501)
Total                                            $      1,067,002      $          973,124


ABL installation

The ABL Facility provides for an aggregate amount of borrowings up to $425.0
million, with a peak season commitment of $475.0 million, subject to a borrowing
base calculation based on available eligible receivables, inventory, and
qualified cash in North America. An amount of up to 30% (or up to 40% with agent
consent) of the then-outstanding commitments under the ABL Facility is available
to our Canada and Spain subsidiaries. A portion of the ABL Facility not to
exceed $50 million is available for the issuance of letters of credit in U.S.
Dollars, of which $20.0 million is available for the issuance of letters of
credit in Canadian dollars. The ABL Facility also includes a $50.0 million
swingline loan facility. The maturity of the facility is June 1, 2026. During
the periods reported, the borrowings under the ABL Facility bore interest at a
rate equal to the London Interbank Offered Rate (LIBOR) or a base rate plus a
margin of between 1.25% to 1.75% or 0.25% to 0.75%, respectively. On October 7,
2022, the Company entered into the Third Amendment to its existing ABL Revolving
Credit Facility (the "ABL Facility") to include a $35 million First-In, Last-Out
Sublimit ("FILO Sublimit") and to replace the LIBOR based reference rate with an
adjusted term Secured Overnight Financing Rate ("SOFR"). The borrowings under
the ABL Facility bear interest at a rate equal to SOFR or a base rate plus a
margin of between 1.25% to 1.75% or 0.25% to 0.75%, respectively, while the FILO
Sublimit borrowings bear interest at a rate equal to SOFR or a base rate plus a
margin of between 2.25% to 2.75% or 1.25% to 1.75%, respectively.

For the three months ended October 1, 2022, the average borrowing base under the
ABL Facility was $199.1 million and the average loan balance outstanding was
$125.3 million. As of October 1, 2022, the loan balance was $100.0 million with
a borrowing availability of $55.2 million. During the nine months ended
October 1, 2022, the effective interest rate was 6.00%, comprised of interest
charges of 3.02% and financing costs of 2.98%.

For the year ended December 31, 2021, the average borrowing base under the ABL
Facility was $170.1 million and the average loan balance outstanding was $14.3
million. As of December 31, 2021 the loan balance was zero with a borrowing
availability of $128.9 million. During the year ended December 31, 2021, the
effective interest rate was 3.37%.

Senior temporary facilities

The First Lien Term Facility bears interest at a rate equal to a base rate or
LIBOR, plus, in either case, an applicable margin. In the case of LIBOR
tranches, the applicable margin is 2.75% per annum with a 0.50% floor, with a
stepdown to 2.50% per annum with a 0.50% floor when net secured leverage is less
than 2.5x. The loan under the First Lien Term Facility amortizes quarterly at a
rate of 0.25% of the original principal amount and requires a $2.5 million
repayment of principal on the last business day of each March, June, September
and December.

As of October 1, 2022, the balance outstanding under the First Lien Term
Facility was $987.5 million and the effective interest rate, including the
impact of an interest rate hedge, for the nine months ended October 1, 2022 was
4.26% as net secured leverage is less than 2.5x. The effective interest rate is
comprised of 3.70% for interest, 0.29% for interest charges on the interest rate
swaps and 0.27% for financing costs.

Of the December 31, 2021the outstanding balance under the senior term facility was $995.0 million and the effective interest rate, including the effect of interest rate hedging, for the year ended December 31, 2021 was 4.77%.

Compliance with commitments

The Credit Facilities contain various restrictions, covenants and collateral
requirements. As of October 1, 2022, we were in compliance with all covenants
under the Credit Facilities.


Sources and uses of species

Following is a summary of our cash flows from operating, investing, and
financing activities:

(Dollars in thousands)                                                        Nine Months Ended
                                                                  October 1, 2022           October 2, 2021
Net cash provided by operating activities                       $        143,664          $        199,163
Net cash used in investing activities                                    (84,866)                  (19,172)
Net cash (used in) provided by financing activities                     (245,947)                    3,187
Effect of exchange rate changes on cash and cash
equivalents and restricted cash                                           (5,740)                   (1,505)

Change in cash and cash equivalents and restricted cash ($192,889) $181,673

Net cash flow generated by operating activities

Net cash provided by operating activities decreased to $143.7 million for the
nine months ended October 1, 2022 from $199.2 million for the nine months ended
October 2, 2021, a decrease of $55.5 million or 27.9%. The reduction was driven
by increased cash used for working capital compared to the prior-year period,
partially offset by higher net income in the current year.

Net cash used in investing activities

Net cash used in investing activities was $84.9 million for the nine months ended October 1, 2022 compared to $19.2 million for the nine months ended
October 2, 2021an augmentation of $65.7 million or 342.7%. The increase is mainly due to acquisition activities and capital expenditures.

Net cash (used in) provided by financing activities

Net cash used in financing activities was $245.9 million for the nine months
ended October 1, 2022 compared to net cash provided of $3.2 million for the nine
months ended October 2, 2021, a change of $249.1 million or 7817.2%. The cash
use for the nine months ended October 1, 2022 is primarily due to share
repurchases partially offset by an inflow from borrowings on the ABL Facility,
compared to the cash provided for the nine months ended October 2, 2021 driven
by proceeds from the IPO and the issuance of long-term debt, partially offset by
the repayments of long-term debt.

Off-balance sheet arrangements

We have had $4.5 million outstanding letters of credit on our ABL revolving credit facility at each of the October 1, 2022 and December 31, 2021.

Critical accounting estimates

Our unaudited condensed consolidated financial statements have been prepared in
accordance with GAAP. The preparation of financial statements requires
management to make estimates and assumptions that affect amounts reported
therein. The estimates that require management's most difficult, subjective or
complex judgments are described in Part II, Item 7, under the heading "Critical
Accounting Estimates" in our   Annual Report on Form 10-K   for the year ended
December 31, 2021 (our "Annual Report on Form 10-K"), which section is
incorporated herein by reference, and the Company has included certain new
critical accounting estimates during the nine months ended October 1, 2022, as
described below:

Business Combinations

We account for business combinations using the acquisition method of accounting
in accordance with ASC 805, Business Combinations. The acquisition method
requires identifiable assets acquired and liabilities assumed to be recognized
and measured at fair value on the acquisition date, which is the date the
acquirer obtains control of the business. The amount by which the fair value of
consideration transferred exceeds the net fair value of assets acquired and
liabilities assumed is recorded as goodwill.

The determination of estimated fair value of assets acquired, specifically
intangible assets, requires us to make extensive use of significant estimates
and assumptions. The fair value of estimates is based on available historical
financial information and on expectations about the future, considering the
perspective of market participants. Significant estimates and assumptions may
include but are not limited to expected revenue growth rates, weighted average
cost of capital, useful lives, and discount rates. Our estimates of the useful
lives of definite-lived intangible assets are based on the same criteria and
correspond with the


expected future cash flows. As a result, we may record adjustments to the fair
values of assets acquired and liabilities assumed within the measurement period
(up to one year from the acquisition date) with the corresponding offset to

Recently issued accounting standards

See Note 2. Significant Accounting Policies in the Notes to our Unaudited Condensed Consolidated Financial Statements for more information.

© Edgar Online, source Previews

Info-graphic view of IBC (Intermediate Bulk Containers) rental


IBC (Intermediate Bulk Containers) Rental Business Market Analysis 2022

IBC (Intermediate Bulk Container) Leasing Market Study 2022-2027:

IBC (Intermediate Bulk Containers) Rental Business Market (Newly Released Report) which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production) and Consumption Analysis, and focuses on various products and other market trends.

Global IBC (Intermediate Bulk Container) Rental Industry Market research report provides a comprehensive study of various techniques and materials used in the production of the IBC Rental Business market products (intermediate bulk containers). Starting from industry chain analysis to cost structure analysis, the report analyzes several aspects, including production and product end-use segments of the IBC (Intermediate Bulk Containers) Rental Business market. The latest industry trends have been detailed in the report to measure their impact on the product production of the IBC (Intermediate Bulk Containers) Rental Business market.

Get a sample of this report @ https://www.marketresearchupdate.com/sample/362579

Major Key Players of IBC (Intermediate Bulk Containers) Rental Business Market are-
Global Packaging Services (GPS), Envirotainer, Hawman Container Services, Hoover Ferguson Group, Arlington Packaging (Rental) Limited, Metano IBC Services, TPS Rental Systems, CMO Enterprises, Brambles, SCHAFER WERKE GmbH, Americold, Hoyer Group, Precision IBC, Good Pack, Mitchell Container Services

The results of recent scientific ventures towards the development of new IBC (Intermediate Bulk Containers) Rental Business products have been studied. Nevertheless, the factors affecting the major industry players to adopt synthetic supply of market products have also been studied in this statistical survey report. The findings provided in this report are of great value to major industry players. Every organization involved in the global production of IBC (Intermediate Bulk Containers) Rental Business market products has been mentioned in this report, to study the information on cost-effective manufacturing methods, competitive landscape, and new application avenues.

Types of products:
Up to 1000 liters
1001-1500 liters
1,501-2,000 liters
More than 2000 liters

Based on the app:
Industrial chemicals
Petroleum and lubricating oil
The painting
Food and drink

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This report also includes expansion, mergers and acquisitions, as well as price, revenue, and production. This report also provides the manufacturer’s revenue, CAGR, and production share.

1) The various scenarios of the overall market have been outlined in this report, providing a roadmap of how Intermediate Bulk Containers (IBC) Rental Business products have secured their place in this fast-paced market. Industry players can reform their strategies and approaches by reviewing the market size predictions mentioned in this report. Profitable marketplaces for the Intermediate Bulk Containers (IBC) rental market have been revealed, which may affect the global expansion strategies of leading organizations. However, each manufacturer has been described in detail in this research report.

2) The Market Effect Factors Analysis chapter of IBC (Intermediate Bulk Containers) Leasing Business precisely focuses on technological advancements/risks, substitution threats, consumer needs / changes in customer preferences, technological advancements in the related industry, and economic / political environmental changes that drive the growth factors of the market.

3) Fastest and slowest growing market segments are given in the study to give a meaningful insight into each central element of the market. New market players are starting their business and accelerating their transition into the IBC (Intermediate Bulk Containers) rental market. Merger and acquisition activity is expected to change the market landscape of this industry.

This report is accompanied by a suite of additional Excel data sheets taking quantitative data from all the numerical forecasts presented in the report.

Regional Analysis for IBC (Intermediate Bulk Container) Rental Market

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)

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Offer Content: The report provides in-depth insights into the usage and adoption of Intermediate Bulk Containers (IBC) Rental industries across various applications, types and regions/countries. In addition, key stakeholders can learn about key trends, investments, drivers, vertical player initiatives, government efforts towards product acceptance in the coming years, and present commercial product information. on the market.

Finally, the IBC (Intermediate Bulk Containers) Rental Business Market study provides essential insights into the key challenges that will influence market growth. The report further provides general details of business opportunities for key stakeholders to expand their businesses and generate revenue in specific verticals. The report will help the existing or prospective companies in this market to consider the various aspects of this field before investing or expanding their business in the IBC (Intermediate Bulk Containers) container rental market.

Our recently published article:







Contact us:
[email protected]

Market Research Update is a market research company serving the demand of large corporations, research agencies and others. We offer several services designed primarily for the healthcare, IT and CMFE fields, one of the main contributions of which is customer experience research. We also customize research reports and provide syndicated research reports and consulting services.

This press release was published on openPR.

Car Buyer Warns to ‘Stay Away’ After Buying From Vroom – Action News Jax


JACKSONVILLE, Fla. — Christy Smith felt trapped after buying a Ford Escape. Car buyer warns others to ‘stay away’ after buying used car from Vroom.

Vroom is an online car retailer where you can buy, sell or trade in your car with the swipe of a finger.

Smith paid $22,999 for his 2017 Escape last December plus taxes and fees. After taking possession of it, she discovered that Vroom had no clear title for the car and that the car had a prior lien on it.

This meant that Smith could not register the car. She’s not the only one stuck in the park.

In an Action News Jax investigation, Ben Becker found that 119 customers had filed complaints with the State of Florida against Vroom since March 2021. These are car buyers who had issues transferring their title after buying a car from the company.

LILY: Man at center of Loomis Fargo burglary 25 years ago is now a ‘normal guy’ living in Jacksonville

In a settlement agreement, Vroom agreed to pay an $87,000 fine in July 2022.

But the problems with Vroom don’t stop at the status line. There are cases all over the country.

According to the Better Business Bureau, Vroom has an F rating with 6,108 complaints over the past three years.

INVESTIGATION : ‘Now I’m terrified of walking my dog:’ Current dog attack laws have more barking than biting

Vroom admitted in a 2021 filing with the Securities and Exchange Commission that he had issues, “…including arrears in title and vehicle registration…” blaming the shutdowns during the pandemic.

“We represent over 250 clients with cases against Vroom,” said Georgian lawyer Cyclone Covey, who is suing Vroom.

Covey tries to help people across the country get their titles through arbitration.

INVESTIGATION : ‘It’s just not appropriate’: City council candidate linked to Airbnb complaints

“I think in general refereeing is not bad, not fast, but can be faster than going to court. So instead of waiting 2-3 years, you could get resolution in 12-15 months,” Covey said.

Smith didn’t wait that long. She held out her hand to [email protected] to help.

“I heard you can do really good things with companies that do things like that,” Smith said.

She said Vroom offered to buy out her Escape instead of giving her an equal trade. But it wasn’t a start for Smith as car prices have soared over the past year. Becker went to Vroom’s website and found a 2017 Escape with similar miles but fewer features now costs $23,999, which is $1,000 more than Smith’s Escape.

[DOWNLOAD: Free Action News Jax app for alerts as news breaks]

The only comparable vehicle Becker found available on Vroom was a 2018 Hyundai Santa Fe Sport, but the cost was $26,499, a difference of about $3,500. Vroom was spending a lot more for Smith to rent a car. So far they’ve spent around $5,300.

After Becker brought the difference to their attention, they gave Smith the go-ahead to get the Santa Fe Sport.

Vroom statement: “We have worked with the customer to trade vehicles for him rather than doing a buyout. She will now receive a 2018 Hyundai Santa Fe Sport.”

[SIGN UP: Action News Jax Daily Headlines Newsletter]

A few weeks later, Vroom picks up the Escape and drops off the Santa Fe.

“I’m very relieved and very happy that Vroom decided to do the right thing and do it right in the end,” Smith said in a video message. “I’m also happy with what Ben has done behind the scenes to resolve this case.”

Smith said Vroom threw in a $100 voucher for a car wash and details.

Click here to download the free Action News Jax news and weather apps, Click here to download the Action News Jax Now app for your smart TV and Click here to stream Action News Jax live.

Rain forecast for Game 3 of the World Series


The Houston Astros and Philadelphia Phillies are set to face off tonight in Game 3 of the World Events. The first pitch is still scheduled for 7:03 p.m. at Citizens Bank Park in Philadelphia, but the tarp was deployed hours before game time and weather may continue to play a role as rain is expected to fall in the City of Love. fraternal Monday. night. Chron’s Josh Criswell and Michael Shapiro will provide live updates throughout the World Series between the Astros and Phillies.

Three things to know before Game 3

A crucial third game is brewing after the Houston Astros and Philadelphia Phillies shared the first two games of the World Series at Minute Maid Park. Whether it’s the recent momentum, the battle of the relievers or Philadelphia’s home field advantage, several factors could play into the outcome. Learn more >>

HOUSTON, TEXAS – OCTOBER 29: Ryan Pressly #55 of the Houston Astros celebrates a win over the Philadelphia Phillies in Game 2 of the 2022 World Series at Minute Maid Park on October 29, 2022 in Houston, Texas. (Photo by Sean M. Haffey/Getty Images)

Sean M. Haffey/Getty Images

World Series Game 3 Weather Update | 5pm CT

The game status 3 of the World Series between the Houston Astros and Philadelphia Phillies is up in the air due to inclement weather forecast for the Philadelphia area. Nothing of substance came of a meeting at 4 p.m. CT, with the two teams scheduled to meet again at 5:45 p.m. CT. Learn more >>

Starting lineups

Below are the starting lineups for Game 3 of the World Series between the Houston Astros and Philadelphia Phillies.

Houston Astros lineup:

Jose Altuve2B
Jeremy PenaSS
Yordan AlvarezLF
Alex Bregman3B
Kyle TuckerRF
Yuli Gurriel1B
David Hensley, DH
Chas McCormick, FC
Martin Maldonado, C.

Lance McCullers Jr.PS

Philadelphia Phillies roster:

Kyle Schwarber, LF
Rhys Hoskins, 1B
JT Realmuto, C
Bryce Harper, DH
Nick Castellanos, RF
Alec Bohm, 3B
Bryson Stott, SS
Jean Segura, 2B
Brandon Marsh, CF

Noah Syndergaard, PS

How to watch

Every World Series game will air on FOX, with pre-game coverage for Game 3 starting at 6 p.m. CT. Games can also be streamed live on FOX Sports Go.

Betting odds

The Astros enter today’s game as slight betting favorites. On DraftKings they are listed at -135 (i.e. a $135 bet would win $100) on the money line and +125 on the -1.5 line (Houston will win by at least two points). Philadelphia is at +115 on the money line and -145 on the +1.5 run line.

Houston entered the Fall Classic as the favorite to win the World Series at -190, and is now listed at -170 after splitting the first two games at Minute Maid Park. The Phillies’ series odds have gone from +165 to +145.

pitch match

The Astros will send Lance McCullers Jr. to the mound in his first World Series appearance since 2017, when he opened the deciding Game 7 against the Los Angeles Dodgers with three strikeouts in 2 1/3 scoreless innings. McCullers has a 2.45 ERA in two playoff starts this year after going 4-2 with a 2.27 ERA in eight regular season appearances.

Noah Syndergaard is expected to start for Philadelphia, as he looks to build on the 1.69 ERA he posted in 5 1/3 innings across the NLDS and NLCS. The former All-Star went 5-2 with a 4.12 ERA in 10 appearances after being acquired from the Los Angeles Angels at this year’s trade deadline.

Powerball Mania goes back a billion dollars


You can’t win if you don’t play. But a lot of people play and don’t win, leading to an estimated $1 billion jackpot for Monday night’s draw.

No one matched all six numbers on Saturday night when the jackpot was $825 million. This creates an opportunity for someone to win the second-biggest jackpot in US history, according to KIMT, which claims the biggest winner ever was a $1.586 billion Powerball jackpot won by three ticket holders in 2016.

Click here for an Associated Press list of the greatest American Powerball winners of all time.

Although no one won the Saturday night draw, several people approached. KIMT says a Florida ticket holder matched all five white balls in Saturday’s draw and increased the prize to $2 million by including the game’s “Power Play” feature. Six tickets won a prize of a million dollars by matching five white balls, including two in California, two in Michigan, one in Maryland and one in Texas.

There were also seventeen winners of $100,000 each and 80 winners of $50,000.

10 Biggest Winners in Iowa Lottery History

The people of Iowa have had enough luck with the various Iowa Lottery games recently, including earlier this month when a Mapleton man won $1 million, a boost well needed after a year of struggle for Darryl Ingram, a farmer who had faced a heart attack and an additional health scare in 2022.

The last time the world played for this kind of money was last July during the Mega Millions. A ticket to Illinois brought in $1.337 billion, which CNN said was only the second-biggest ever in that game.

Meanwhile, it’s been almost six months since anyone hit all six numbers in the Powerball draw, but this Monday night could definitely change someone’s luck. I hope it’s you!

One of the priciest Airbnbs just over the Iowa border is a must see [GALLERY]

This house is a beauty! But, it will cost you.

25 richest families in America

To find out which clans hold the most wealth, Stacker compiled a list of America’s 25 richest families using 2020 data from Forbes.

Blackstone sees the biggest investment opportunity in these types of properties


Blackstone Inc. (NYSE: BX) is the world’s largest owner of commercial real estate, owning and operating assets in all major geographies and sectors, managing $319 billion in investment capital with $577 billion in its global real estate portfolio.

Kathleen McCarthyBlackstone’s Senior Managing Director and Global Co-Head of Real Estate, spoke at the Urban Land Institute’s Fall Annual Meeting last Tuesday, where she outlined her preferences for which property would generate the most revenue flow. cash flow in today’s uncertain housing environment.

Read also: Will home ownership soon be a thing of the past? The strategy millennials use to enter the real estate market

“We’re in a terrific industry for an environment like this,” McCarthy said. “In an environment where costs are rising and you need to generate cash flow growth, real estate is a great place to be overall.”

McCarthy continued: “Real estate is in a better place today than it has been in other economic environments, we have never returned to these high levels of new construction or lending on new speculative constructions.

Blackstone Real Estate continues to focus on asset classes that offer tailwinds and where changes in the global economy are fueling demand for those assets.

About 80% of the company’s real estate assets, according to the senior managing director, are centered on data centers, hotels, laboratory office space, rental homes and warehouses, all of which will benefit from future supply. limited expected.

Speaking of rental homes, while Airbnb Inc. (NASDAQ: ABNB) is taking a bigger share of the vacation rental market, its shares are down 33.28% year-to-date. Benzinga offers an investor (like you) the opportunity to invest as little as $100 in a vacation home to earn passive income. Look at this! (It really works).

Here is a brief overview of some of the property categories that Blackstone Real Estate focuses on:


  • For more than 12 years, industrial has been Blacksone’s strongest conviction theme, according to McCarthy.

Several families


  • According to McCarthy, Blackstone continues to have “strong conviction” in this part of the real estate market, which has been disrupted by the pandemic.

Don’t miss real-time alerts on your actions – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

GetRentacar.com Launches Exclusive Frequent Customer Loyalty Program Across UAE


Dubai: The international car rental and used car subscription market, GetRentacar.com is launching a unique VIP program for frequent customers. The VIP program gives customers access to exclusive and special prices, as well as Ai for reservations, among other benefits. Expanding its operations in the United Arab Emirates and Saudi Arabia, GetRentacar.com connects local car owners with travelers looking to rent profitably and efficiently.

A travel and mobility pioneer with an economics and business background, Alexander Pershikov sought ways to improve existing models for a more sustainable mobile future. In large cities, many cars are not in use, resulting in inefficient allocation of resources and CO2 pollutants. Car rental and used car subscription services solve this problem by allowing owners to rent their cars and balance their resources.

Stating: “We have launched our VIP CLUB for travelers who frequently use our services to help them discover the world with our exclusive privileges. By joining the Club, the customer benefits from hidden offers and a personal discount of 10% on car rental. A premium package of travel services with a discount for yacht charters, transfers, business class flights and the best tourist experiences is another gift our customers receive”

GetRentacar.com was launched during the COVID pandemic period when founder Alexander Pershikov encountered his own difficulties trying to rent a car while on a business trip abroad. Pershikov alongside his business partner decided to automate the whole process to make it a more streamlined process. The car rental and membership “Airbnb” allows local owners to rent out their cars for additional income and makes it easy and affordable for visitors and residents to rent a car.

The GetRentacar.com service is based on state-of-the-art algorithms, backed up by modern technology with a system that guarantees the best deals. The service allows travelers to choose the region and date of their future trip and specify the price they are willing to pay. The offer is individually adapted to each customer so that he can find the one that suits him best.

In Dubai only, Club members will benefit from individual offers for exclusive local events, 50% off car delivery and a reduced security deposit. The annual membership fee is 1000 USD.


For media inquiries
GM Aether for Public Relations and Management Co.
W: gm-aether.com
E:[email protected]



Forward-looking statements

This Quarterly Report on Form 10-Q contains information and statements that are
considered "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Such forward-looking statements are based on
management's current expectations and beliefs concerning future developments and
their potential effects on the Company, and include, without limitation,
statements about the Company's plans, strategies, goals, objectives,
expectations, or consequences of statements about the future performance,
operations, products and services of the Company and its subsidiaries, as well
as statements about the Company's expectations regarding revenue and asset
growth, financial performance and profitability, loan and deposit growth, yields
and returns, loan diversification and credit management, products and services,
shareholder value creation and the impact of the FCBP acquisition and other
acquisitions. Forward-looking statements are typically identified with the use
of terms such as "may," "might," "will," "would," "should," "expect," "plan,"
"anticipate," "believe," "estimate," "predict," "potential," "could,"
"continue," "intend," and the negative and other variations of these terms and
similar words and expressions, although some forward-looking statements may be
expressed differently. Forward-looking statements are inherently subject to
risks and uncertainties and our ability to predict results or the actual effect
of future plans or strategies is inherently uncertain. You should be aware that
our actual results could differ materially from those contained in the
forward-looking statements.

While there is no assurance that any list of risks and uncertainties or risk
factors is complete, important factors that could cause actual results to differ
materially from those in the forward-looking statements include the following,
without limitation: our ability to efficiently integrate acquisitions, including
the FCBP acquisition, into our operations, retain the customers of these
businesses and grow the acquired operations; credit risk; changes in the
appraised valuation of real estate securing impaired loans; our ability to
recover our investment in loans; fluctuations in the fair value of collateral
underlying loans; outcomes of litigation and other contingencies; exposure to
general and local economic and market conditions, including risk of recession,
high unemployment rates, higher inflation and its impacts (including U.S.
federal government measures to address higher inflation), U.S. fiscal debt,
budget and tax matters, and any slowdown in global economic growth; risks
associated with rapid increases or decreases in prevailing interest rates;
changes in business prospects that could impact goodwill estimates and
assumptions; consolidation within the banking industry; competition from banks
and other financial institutions; the ability to attract and retain relationship
officers and other key personnel; burdens imposed by federal and state
regulation; changes in legislative or regulatory requirements, as well as
current, pending or future legislation or regulation that could have a negative
effect on our revenue and businesses, including rules and regulations relating
to bank products and financial services; changes in accounting policies and
practices or accounting standards; changes in the method of determining LIBOR
and the phase-out of LIBOR; natural disasters; terrorist activities, war and
geopolitical matters (including the war in Ukraine and the imposition of
additional sanctions and export controls in connection therewith), or pandemics,
including the COVID-19 pandemic, and their effects on economic and business
environments in which we operate, including the ongoing disruption to the
financial market and other economic activity caused by the continuing COVID-19
pandemic; and other risks discussed under the caption "Risk Factors" under Part
I, Item 1A of our 2021 Annual Report on Form 10-K, and other reports filed with
the SEC, all of which could cause the Company's actual results to differ from
those set forth in the forward-looking statements. The Company cautions that the
preceding list is not exhaustive of all possible risk factors and other factors
could also adversely affect the Company's results.

Readers are cautioned not to place undue reliance on our forward-looking
statements, which reflect management's analysis and expectations only as of the
date of such statements. Forward-looking statements speak only as of the date
they are made, and the Company does not intend, and undertakes no obligation, to
publicly revise or update forward-looking statements after the date of this
report, whether as a result of new information, future events or otherwise,
except as required by federal securities law. You should understand that it is
not possible to predict or identify all risk factors. Readers should carefully
review all disclosures we file from time to time with the SEC which are
available on our website at www.enterprisebank.com under "Investor Relations."



The following discussion describes the significant changes to the financial
condition of the Company that have occurred during the first nine months of 2022
compared to the financial condition as of December 31, 2021. In addition, this
discussion summarizes the significant factors affecting the results of
operations of the Company for the three months ended September 30, 2022,
compared to the linked second quarter ("linked quarter") in 2022 and the results
of operations, liquidity and cash flows for the nine months ended September 30,
2022 compared to the same period in 2021. In light of the nature of the
Company's business, which is not seasonal, the Company's management believes
that the comparison to the linked quarter is the most relevant to understand the
financial results from management's perspective. For purposes of the Quarterly
Report on Form 10-Q, the Company is presenting a comparison to the corresponding
year-to-date period in 2021. This discussion should be read in conjunction with
the accompanying condensed consolidated financial statements included in this
report and our Annual Report on Form 10-K for the year ended December 31, 2021.

Significant Accounting Policies and Estimates

The Company's critical accounting policies are considered important to the
understanding of the Company's financial condition and results of operations.
These accounting policies require management's most difficult, subjective and
complex judgments about matters that are inherently uncertain. Because these
estimates and judgments are based on current circumstances, they may change over
time or prove to be inaccurate based on actual experience. If different
assumptions or conditions were to prevail, and depending upon the severity of
such changes, the possibility of a materially different financial condition
and/or results of operations could reasonably be expected.

A full description of our critical accounting policies and the impact and any
associated risks related to those policies on our business operations are
discussed throughout "Management's Discussion and Analysis of Financial
Condition and Results of Operations," where such policies affect our reported
and expected financial results. For a detailed discussion on the application of
these and other accounting policies, see the Company's Annual Report on Form
10-K for the year ended December 31, 2021.

The Company has prepared the consolidated financial information in this report
in accordance with GAAP. The Company makes estimates and assumptions that affect
the reported amount of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the consolidated financial statements, and the
reported amounts of revenue and expenses during the reporting period. Such
estimates include the valuation of loans, goodwill, intangible assets, and other
long-lived assets, along with assumptions used in the calculation of income
taxes, among others. These estimates and assumptions are based on management's
best estimates and judgment. Management evaluates its estimates and assumptions
on an ongoing basis using loss experience and other factors, including the
current economic environment, which management believes to be reasonable under
the circumstances. We adjust such estimates and assumptions when facts and
circumstances dictate. As future events and their effects cannot be determined
with precision, actual results could differ significantly from these estimates.
Changes in estimates resulting from continuing changes in the economic
environment will be reflected in the financial statement in future periods.
There can be no assurances that actual results will not differ from those


Provision for credit losses

Utilizing the CECL methodology, the Company maintains separate allowances for
funded loans, unfunded loans, and held-to-maturity securities, collectively the
ACL. The ACL is a valuation account to adjust the cost basis to the amount
expected to be collected, based on management's estimate of experience, current
conditions, and reasonable and supportable forecasts. For purposes of
determining the allowance for funded and unfunded loans, the portfolios are
segregated into pools that share similar risk characteristics that are then
further segregated by credit grades. Loans that do not share similar risk
characteristics are evaluated on an individual basis and are not included in the
collective evaluation. The Company estimates the amount of the allowance based
on loan loss experience, adjusted for current and forecasted economic
conditions, including unemployment, changes in GDP, and commercial and
residential real estate prices. The Company's forecast of economic conditions
uses internal and external information and considers a weighted average of a
baseline, upside, and downside scenarios. Because economic conditions can change
and are difficult to predict, the anticipated amount of estimated loan defaults
and losses, and therefore the adequacy of the allowance, could change
significantly and have a direct impact on the Company's credit costs. The
Company's allowance for credit losses on loans was $140.6 million at September
30, 2022 based on the weighting of the different economic scenarios. As a
hypothetical example, if the Company had only used the upside scenario, the
allowance would have decreased $7.7 million. Conversely, the allowance would
have increased $39.0 million using only the downside scenario.



The Company finalized its acquisition of FCBP on July 21, 2021. The results of operations of FCBP are included in our results from that date.

Below are highlights of the Company’s financial performance for the periods indicated.

                                                     Three months ended                                At or for the nine months ended
(in thousands, except per share   September 30,           June 30,          September 30,            September 30,           September 30,
data)                                  2022                 2022                 2021                    2022                     2021
Total interest income            $     135,695          $ 116,069          $     103,228          $       358,345           $     275,589
Total interest expense                  11,405              6,456                  5,955                   23,277                  17,455
Net interest income                    124,290            109,613                 97,273                  335,068                 258,134
Provision (benefit) for credit
losses                                     676                658                 19,668                   (2,734)                 17,045
Net interest income after
provision (benefit) for credit
losses                                 123,614            108,955                 77,605                  337,802                 241,089
Total noninterest income                 9,454             14,194                 17,619                   42,289                  45,113
Total noninterest expense               68,843             65,424                 76,885                  197,067                 182,225
Income before income tax expense        64,225             57,725                 18,339                  183,024                 103,977
Income tax expense                      14,025             12,576                  4,426                   39,982                  21,733
Net income                       $      50,200          $  45,149          $      13,913          $       143,042           $      82,244
Preferred stock dividends                  937                938                      -                    3,104                       -
Net income available to common
shareholders                     $      49,263          $  44,211          $      13,913          $       139,938           $      82,244

Basic earnings per share         $        1.32          $    1.19          $        0.38          $          3.74           $        2.48
Diluted earnings per share       $        1.32          $    1.19          $        0.38          $          3.73           $        2.48

Return on average assets                  1.51  %            1.34  %                0.45  %                  1.42   %                1.01  %
Return on average common equity          13.74  %           12.65  %                3.96  %                 13.09   %                9.14  %
Return on average tangible
common equity1                           18.82  %           17.44  %                5.37  %                 17.92   %               12.31  %
Net interest margin (tax
equivalent)                               4.10  %            3.55  %                3.40  %                  3.64   %                3.45  %

Efficiency ratio                         51.47  %           52.84  %               66.92  %                 52.22   %               60.09  %
Core efficiency ratio1                   51.47  %           52.81  %               51.30  %                 52.21   %               52.59  %
Book value per common share      $       36.92          $   36.97          $       37.52
Tangible book value per common
share1                           $       26.62          $   26.63          


Net charge-offs (recoveries)     $         478          $    (175)         $       1,850          $         1,824           $       8,366
Nonperforming loans                     18,184             19,560                 41,554
Classified assets                       98,078             96,801                104,220
Nonperforming loans to total
loans                                     0.19  %            0.21  %                0.46  %
Nonperforming assets to total
assets                                    0.14  %            0.16  %                0.35  %
ACL on loans to total loans               1.50  %            1.52  %                1.67  %
Net charge-offs (recoveries) to
average loans (annualized)                0.02  %           (0.01) %                0.08  %                  0.03   %                0.14  %

(1) A non-GAAP measure. A reconciliation has been included in this section under the heading “Use of Non-GAAP Financial Measures”.


Financial results and other notable items include:

• Details of PPP loans are shown in the following table:

                                                          Quarter ended                              At or for the nine months ended
                                    September 30,                               September 30,       September 30,        September 30,
(in thousands)                           2022             June 30, 2022             2021                 2022                2021
PPP loans outstanding, net of
deferred fees                       $   13,165           $      49,175          $  438,959          $   13,165           $  438,959

Average PPP loans outstanding, net      26,113                  89,152             489,104             102,599              614,470
PPP interest and fee income
recognized                                 471                   1,557               6,048               4,886               22,463
PPP deferred fees remaining                119                     524               7,428                 119                7,428
PPP average yield                         7.16   %                7.01  %             4.91  %             6.37   %             4.89  %

PPP has impacted the Company's financial metrics in all periods since the
Company began participating in April 2020. Loan and deposit growth, earnings per
share, and return on assets all increased due to the PPP. Conversely, the
allowance coverage ratio, the leverage ratio and the ratio of tangible common
equity to tangible assets all decreased. The net interest margin has benefited
in quarters where loan forgiveness has been approved by the SBA and related loan
fees have been accelerated into income. Since the PPP loans are guaranteed by
the SBA, CET1, Tier 1 and total risk-based capital are not impacted by PPP loan

•Pre-provision net revenue1 ("PPNR") of $64.9 million in the third quarter 2022
increased $6.5 million from the linked quarter PPNR of $58.4 million. PPNR of
$180.3 million for the nine months ended September 30, 2022 increased
$36.1 million from $144.2 million in the prior year period. The increase from
the linked quarter was primarily due to an increase in operating revenue,
partially offset by an increase in noninterest expense. The year-to-date
increase over the prior year period was primarily due to the acquisition of FCBP
in the third quarter 2021, partially offset by a decline in PPP income.

1 PPNR is a non-GAAP measure. See the discussion and reconciliation of these measures in the accompanying financial tables.

•Net interest income of $124.3 million for the third quarter 2022 increased
$14.7 million from $109.6 million in the linked quarter. Net interest margin
("NIM") was 4.10% for the third quarter 2022, compared to 3.55% for the linked
quarter. Net interest income and NIM benefited from higher average loan and
investment balances and expanding yields on earning assets, partially offset by
higher deposit costs and a decline in average interest-earning cash. Net
interest income of $335.1 million for the nine months ended September 30, 2022
increased $76.9 million from $258.1 million in the prior year period. The
year-to-date increase over the prior year was due primarily to the acquisition
of FCBP, an increase in market interest rates, and growth in the loan and
investment portfolios, partially offset by a decline in PPP income.

•Noninterest income of $9.5 million for the third quarter 2022 decreased $4.7
million from $14.2 million in the linked quarter. The decline from the linked
quarter was primarily due to a decrease in tax credit income and card service
revenue. The increase in market interest rates in the quarter reduced tax credit
income due to the impact on tax credit projects carried at fair value. Card
services revenue declined due to the Durbin Amendment cap on debit card income
that became effective in the current quarter. Noninterest income of
$42.3 million for the nine months ended September 30, 2022 decreased
$2.8 million from $45.1 million in the prior year period. The year-to-date
decrease from the prior period was due primarily to the reduction in tax credit
income partially offset by increased noninterest income from the FCBP

Balance sheet highlights:

•Loans - Total loans increased $337.3 million to $9.4 billion at September 30,
2022, compared to $9.0 billion at December 31, 2021. PPP loans declined
$258.8 million from December 31, 2021. Excluding PPP, loans grew $596.1 million,
or 7%, on a year-to-date basis from December 31, 2021. Average loans totaled
$9.1 billion for the nine months ended September 30, 2022 compared to $7.7
billion for the nine months ended September 30, 2021.

•Deposits - Total deposits decreased $286.2 million, to $11.1 billion at
September 30, 2022 from $11.3 billion at December 31, 2021. The decline in
deposits was primarily concentrated in interest-bearing demand and money market
accounts that were not relationship-based and reflects a shift in our deposit
mix aligned with our disciplined focus on relationship-based, lower-cost
deposits. Average deposits totaled $11.4 billion for the nine months ended
September 30, 2022, compared to $9.0 billion for the nine months ended September
30, 2021. Noninterest deposit accounts represented 42.0% of total deposits and
the loan to deposit ratio was 84.6% at September 30, 2022.

•Asset quality - The allowance for credit losses on loans to total loans was
1.50% at September 30, 2022, compared to 1.61% at December 31, 2021.
Nonperforming assets to total assets was 0.14% at September 30, 2022 compared to
0.23% at December 31, 2021. Due to the improvement in credit quality and a shift
in the risk composition of the loan portfolio, offset by a decline in
macroeconomic forecasts, a provision benefit of $2.7 million was recorded in the
first nine months of 2022, compared to a provision expense of $17.0 million in
the comparable prior year period. The provision for credit losses of $17.0
million included $23.9 million to establish the initial allowance for credit
losses on certain First Choice acquired loans and commitments. Loan growth and
the provision benefit in the first nine months of 2022 contributed to the
decline in the ratio of allowance for credit losses to total loans.

•Shareholders' equity - Total shareholders' equity was $1.45 billion at
September 30, 2022, compared to $1.53 billion at December 31, 2021, and the
tangible common equity to tangible assets ratio2 was 7.86% at September 30, 2022
compared to 8.13% at December 31, 2021. The decline in the tangible common
equity ratio was primarily due to a $172.0 million decrease in accumulated other
comprehensive income, mainly from a decrease in the fair value of the
available-for-sale investment portfolio. The Company and the Bank's regulatory
capital ratios exceeded the "well-capitalized" level at September 30, 2022. In
June 2022, the Company retired 1,980,093 shares of treasury stock and returned
them to authorized and unissued shares.

The Company repurchased 700,473 shares totaling $32.9 million in the first nine
months of 2022 for an average price of $47.00 per share. The shares acquired in
2022 complete the share repurchase plan authorized by the Board of Directors on
April 29, 2021. On May 4, 2022, the Board of Directors approved a new plan that
authorized the repurchase of up to 2,000,000 shares of common stock. No shares
have been repurchased under the recently-approved plan.

The Company's Board of Directors approved a quarterly dividend of $0.24 per
common share, payable on December 30, 2022 to shareholders of record as of
December 15, 2022, an increase of $0.01, or 4.3%, compared to the third quarter
2022. The Board of Directors also declared a cash dividend of $12.50 per share
of Series A Preferred Stock (or $0.3125 per depositary share) representing a 5%
per annum rate for the period commencing (and including) September 15, 2022 to
(but excluding) December 15, 2022. The dividend will be payable on December 15,
2022 to shareholders of record on November 30, 2022.

2 Tangible common equity to tangible assets ratio is a non-GAAP measure. Refer
to discussion and reconciliation of these measures in the accompanying financial


Net Interest Income
Average Balance Sheet
The following tables present, for the periods indicated, certain information
related to our average interest-earning assets and interest-bearing liabilities,
as well as the corresponding interest rates earned and paid, all on a tax
equivalent basis.

                                                              Three months ended September 30,                                               Three months ended June 30,                                            Three months ended September 30,
                                                                            2022                                                                        2022                                                                      2021
                                                                                                     Average                                                                      Average                                                               Average
                                                                            Interest                 Yield/                                                Interest                Yield/                                       Interest                 Yield/
(in thousands)                                Average Balance            Income/Expense               Rate                  Average Balance             Income/Expense              Rate            Average Balance          Income/Expense               Rate
Interest-earning assets:

Total loans1, 2                            $        9,230,738          $       118,642                    5.10  %       $      9,109,131              $       102,328                 4.51  %       $   8,666,353          $        94,465                   4.32  %
Taxable securities                                  1,294,470                    8,064                    2.27                 1,209,498                        6,894                 2.29                904,338                    4,810                   2.11
Non-taxable securities2                               907,785                    6,653                    2.84                   858,621                        6,050                 2.83                690,600                    4,773                   2.74
Total securities                                    2,202,255                   14,717                    2.65                 2,068,119                       12,944                 2.51              1,594,938                    9,583                   2.38
Interest-earning deposits                             765,258                    4,190                    2.17                 1,401,961                        2,496                 0.71              1,251,988                      480                   0.15
Total interest-earning assets                      12,198,251                  137,549                    4.47                12,579,211                      117,768                 3.76             11,513,279                  104,528                   3.60
Noninterest-earning assets                            959,870                                                                    949,263                                                                  821,279

 Total assets                              $       13,158,121                                                           $     13,528,474                                                            $  12,334,558

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand accounts           $        2,200,619          $         1,707                    0.31  %       $      2,329,431              $           659                 0.11  %       $   2,228,466          $           459                   0.08  %
Money market accounts                               2,791,822                    6,067                    0.86                 2,767,595                        2,270                 0.33              2,675,405                    1,294                   0.19
Savings                                               828,747                       69                    0.03                   854,860                           70                 0.03                747,927                       61                   0.03
Certificates of deposit                               554,987                      844                    0.60                   591,091                          851                 0.58                604,594                      927                   0.61
Total interest-bearing deposits                     6,376,175                    8,687                    0.54                 6,542,977                        3,850                 0.24              6,256,392                    2,741                   0.17
Subordinated debentures                               155,225                    2,313                    5.91                   155,092                        2,257                 5.84                204,011                    2,855                   5.55
FHLB advances                                          25,543                      103                    1.60                    50,000                          197                 1.58                 89,457                      211                   0.94
Securities sold under agreements to
repurchase                                            198,027                      123                    0.25                   202,537                           41                 0.08                216,403                       58                   0.11
Other borrowed funds                                   19,984                      179                    3.53                    21,413                          111                 2.08                 25,699                       90                   1.39
Total interest-bearing liabilities                  6,774,954                   11,405                    0.67                 6,972,019                        6,456                 0.37              6,791,962                    5,955                   0.35
Noninterest bearing liabilities:
Demand deposits                                     4,778,720                                                                  4,987,455                                                                4,040,761
Other liabilities                                     109,943                                                                     94,733                                                                  107,739
Total liabilities                                  11,663,617                                                                 12,054,207                                                               10,940,462
Shareholders' equity                                1,494,504                                                                  1,474,267                                                                1,394,096
Total liabilities & shareholders' equity   $       13,158,121                                                           $     13,528,474                                                            $  12,334,558
Net interest income                                                    $       126,144                                                                $       111,312                                                      $        98,573
Net interest spread                                                                                       3.80  %                                                                     3.39  %                                                                3.25  %
Net interest margin                                                                                       4.10  %                                                                     3.55  %                                                                3.40  %

1 Average balances include nonaccrual loans. Interest income includes loan fees
of $3.6 million, $4.2 million, and $6.5 million for the three months ended
September 30, 2022, June 30, 2022, and September 30, 2021, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a 25.2%
tax rate. The tax-equivalent adjustments were $1.9 million, $1.7 million, and
$1.3 million for the three months ended September 30, 2022, June 30, 2022, and
September 30, 2021, respectively.

                                                                                                        Nine months ended September 30,
                                                                                 2022                                                                    2021
                                                                                                         Average                                                                 Average
                                                                                  Interest                Yield/                                          Interest                Yield/
(in thousands)                                       Average Balance           Income/Expense              Rate              Average Balance           Income/Expense              Rate
Interest-earning assets:

Total loans1, 2                                    $      9,116,072          $       317,271                 4.65  %       $      7,727,264          $       250,699                 4.34  %
Taxable securities                                        1,219,093                   20,658                 2.27                   870,169                   14,235                 2.19
Non-taxable securities2                                     846,707                   17,973                 2.84                   635,423                   13,392                 2.82
Total securities                                          2,065,800                   38,631                 2.50                 1,505,592                   27,627                 2.45
Interest-earning deposits                                 1,312,442                    7,502                 0.76                   914,954                      906                 0.13
Total interest-earning assets                            12,494,314                  363,404                 3.89                10,147,810                  279,232                 3.68
Noninterest-earning assets                                  937,549                                                                 712,946

 Total assets                                      $     13,431,863                                                        $     10,860,756

Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand accounts                   $      2,344,007          $         2,902                 0.17  %       $      2,035,029          $         1,123                 0.07  %
Money market accounts                                     2,810,278                    9,797                 0.47                 2,458,146                    3,257                 0.18
Savings                                                     833,721                      205                 0.03                   707,269                      161                 0.03
Certificates of deposit                                     584,213                    2,492                 0.57                   555,045                    3,329                 0.80
Total interest-bearing deposits                           6,572,219                   15,396                 0.31                 5,755,489                    7,870                 0.18
Subordinated debentures                                     155,093                    6,790                 5.85                   203,853                    8,521                 5.59
FHLB advances                                                41,758                      495                 1.58                    63,297                      603                 1.27
Securities sold under agreements to repurchase              220,703                      224                 0.14                   218,942                      176                 0.11
Other borrowed funds                                         21,402                      372                 2.32                    27,154                      285                 1.40
Total interest-bearing liabilities                        7,011,175                   23,277                 0.44                 6,268,735                   17,455                 0.37
Noninterest bearing liabilities:
Demand deposits                                           4,819,718                                                               3,280,414
Other liabilities                                            99,458                                                                 108,001
Total liabilities                                        11,930,351                                                               9,657,150
Shareholders' equity                                      1,501,512                                                               1,203,606
Total liabilities & shareholders' equity           $     13,431,863                                                        $     10,860,756
Net interest income                                                          $       340,127                                                         $       261,777
Net interest spread                                                                                          3.45  %                                                                 3.31  %
Net interest margin                                                                                          3.64  %                                                                 3.45  %

1 Average balances include nonaccrual loans. Interest income includes loan fees
of $13.0 million and $22.1 million for the nine months ended September 30, 2022
and September 30, 2021, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a 25.2%
tax rate. The tax-equivalent adjustments were $5.1 million and $3.6 million for
the nine months ended September 30, 2022 and September 30, 2021, respectively.



The following table presents, on a tax equivalent basis for the periods indicated, a summary of the changes in interest income and expense resulting from changes in yield/rate and volume.

                                                                                                            Nine months ended
                                               Three months ended September 30, 2022                        September 30, 2022
                                                            compared to                                        compared to
                                                                                                            Nine months ended
                                                 Three months ended June 30, 2022                           September 30, 2021
                                                    Increase (decrease) due to                          Increase (decrease) due to
(in thousands)                             Volume(1)            Rate(2)             Net                                Volume(1)           Rate(2)             Net
Interest earned on:

Loans(3)                                $      1,395          $ 14,919          $ 16,314                              $  47,366          $ 19,206          $ 66,572
Taxable securities                               552               618             1,170                                  5,896               527             6,423
Non-taxable securities(3)                        404               199               603                                  4,484                97             4,581
Interest-earning deposits                     (1,540)            3,234             1,694                                    551             6,045             6,596
Total interest-earning assets           $        811          $ 18,970          $ 19,781                              $  58,297          $ 25,875          $ 84,172

Interest paid on:
Interest-bearing demand accounts        $        (37)         $  1,085          $  1,048                              $     194          $  1,585          $  1,779
Money market accounts                             21             3,776             3,797                                    528             6,012             6,540
Savings                                           (1)                -                (1)                                    30                15                45
Certificates of deposit                          (42)               35                (7)                                   167            (1,005)             (838)
Subordinated debentures                            4                52                56                                 (2,119)              388            (1,731)
FHLB advances                                    (96)                2               (94)                                  (234)              126              (108)
Securities sold under agreements to
repurchase                                        (1)               83                82                                      1                47                48
Other borrowings                                  (7)               75                68                                    (70)              157                87
Total interest-bearing liabilities              (159)            5,108             4,949                                 (1,503)            7,325             5,822
Net interest income                     $        970          $ 13,862          $ 14,832                              $  59,800          $ 18,550          $ 78,350

(1) Change in volume multiplied by yield/rate of prior period.
(2) Change in yield/rate multiplied by volume of prior period.
(3) Nontaxable income is presented on a tax equivalent basis.
NOTE: The change in interest due to both rate and volume has been allocated to
rate and volume changes in proportion to the relationship of the absolute dollar
amounts of the change in each.

Net interest income (on a tax equivalent basis) of $126.1 million for the three
months ended September 30, 2022 increased $14.8 million, from $111.3 million in
the linked quarter. Interest income increased during the quarter due to higher
loan and investment balances combined with an increase in market interest rates.
The effective federal funds rate for the third quarter 2022 was 2.20%, an
increase of 144 basis points, compared to the linked quarter. Excess liquidity
was redeployed into the investment portfolio which, combined with higher average
loan balances, benefited the earning-asset mix. The increase in interest income
was partially offset by higher interest expense on the deposit portfolio due to
higher costs.

Net interest income (on a tax equivalent basis) for the nine months ended
September 30, 2022 of $340.1 million increased $78.3 million, over
$261.8 million in the prior year period. The year-to-date increase over the
prior year was primarily due to the FCBP acquisition and an increase in market
interest rates. Organic growth in the loan portfolio and the continued increase
in the investment portfolio has also benefited net interest income.

The current quarter and year-to-date increases in net interest income were
partially offset by a decline in PPP income. PPP income in the third quarter
2022 was $0.5 million, compared to $1.6 million in the linked quarter. PPP
income was $4.9 million for the nine months ended September 30, 2022, compared
to $22.5 million in the comparable prior year period.


NIM was 4.10% for the third quarter 2022, an increase of 55 basis points from
3.55% in the linked quarter. The increase in NIM from the linked quarter was
primarily due to higher yields on loans, investments and interest-earning
deposits due to an increase in market interest rates. The average loan yield was
5.10% in the third quarter 2022, an increase of 59 basis points from 4.51% in
the linked quarter. The average loan yield increased due to the repricing of
variable-rate loans and the origination of new loans at an average rate of 5.68%
in the third quarter. Approximately 20% of the variable-rate loan portfolio
reprices on the first day of each quarter and thus, interest income in the
period did not benefit from the Federal Reserve's increase in the target federal
funds rate in the current quarter. These loans will reset early in the fourth
quarter. The average investment yield was 2.65%, an increase of 14 basis points
from the linked quarter. The investment yield increased due to the purchase of
new investments at higher yields due to the expansion of the investment
portfolio and the reinvestment of cash flows. Investments purchased in the third
quarter 2022 had a tax equivalent average yield of 3.68%.

NIM was 3.64% for the nine months ended September 30, 2022, an increase of 19
basis points, from 3.45% in the prior year period. The increase in NIM over the
prior year period was primarily due to the increase in interest rates that have
had a greater impact on assets with variable interest rates than on deposit
costs. In 2022, the target federal funds rate has increased 300 basis points to
a range of 3.0 to 3.25%, the highest level since early 2008.

Non-interest income

The following table presents a comparative summary of the main components of non-interest revenue for the periods indicated.

                                                             Linked quarter comparison                                                         Prior year comparison
                                                                   Quarter ended                                                                 Nine months ended
                                    September 30,                                                                      September 30,       September 30,
(in thousands)                           2022               June 30, 2022              Increase (decrease)                 2022                2021                 Increase (decrease)
Deposit service charges            $       4,951          $        4,749          $      202                4  %       $   13,863          $   11,466          $    2,397              21  %
Wealth management revenue                  2,432                   2,533                (101)              (4) %            7,587               7,572                  15               -  %
Card services revenue                      2,652                   3,514                (862)             (25) %            9,206               8,657                 549               6  %
Tax credit income (loss)                  (3,625)                  1,186              (4,811)            (406) %              169               3,654              (3,485)            (95) %

Other income                               3,044                   2,212                 832               38  %           11,464              13,764              (2,300)            (17) %

Total noninterest income           $       9,454          $       14,194          $   (4,740)             (33) %       $   42,289          $   45,113          $   (2,824)             (6) %

Total noninterest income for the third quarter 2022 was $9.5 million, a decrease
of $4.7 million from $14.2 million in the linked quarter. The decrease from the
linked quarter was primarily due to decreases in tax credit income and card
services revenue. Rising interest rates reduced tax credit income due to the
impact on tax credit projects carried at fair value. The rise in interest rates
in the third quarter 2022 increased the discount rate used in the fair value of
these projects, resulting in a lower fair value. Future rate increases may
result in additional fair value changes that will lower tax credit income. The
Durbin Amendment limits the amount of interchange income the Company can earn on
debit card transactions. This limitation went into effect for the Company in the
third quarter 2022 and reduced card services revenue by approximately $1.0
million in the third quarter.

Other income in the current and linked quarters included a combined $0.3 million
of income from community development investments and swap income. Income from
community development investments and customer swap fees are not consistent
sources and will vary among periods.

Total noninterest income for the nine months ended September 30, 2022 was
$42.3 million, a decrease of $2.8 million from $45.1 million in the prior year
period. The decrease was primarily due to tax credit and other income. Tax
credit income was lower due to the previously discussed changes in the fair
value of tax credits carried at fair value. Other income in the first nine
months of 2022 decreased primarily due to lower private equity fund
distributions and lower mortgage banking revenue due to a decline in activity,
partially offset by higher income on community development investments. The FCBP
acquisition contributed $4.9 million to noninterest income in 2022 compared to
$1.5 million in the prior year period, primarily in deposit service charges.

Non-interest expenses

The following table presents a comparative summary of the main components of non-interest expenses for the periods indicated.

                                                Linked quarter comparison                                                      Prior year comparison
                                                      Quarter ended                                                              Nine months ended
                         September 30,                                                                  September 30,       September 30,
(in thousands)               2022             June 30, 2022              Increase (decrease)                2022                2021                Increase (decrease)
Employee compensation
and benefits             $  36,999           $      36,028          $     971                3  %       $  108,854          $   91,416          $  17,438              19  %
Occupancy                    4,497                   4,309                188                4  %           13,392              11,776              1,616              14  %
Data processing              3,543                   3,111                432               14  %            9,914               9,068                846               9  %
Professional fees            1,597                   1,542                 55                4  %            4,316               3,189              1,127              35  %

Branch closure expenses          -                       -                  -                -  %                -               3,441             (3,441)                NM
Merger-related expenses          -                       -                  -                -  %                -              19,762            (19,762)                NM
Other expense               22,207                  20,434              1,773                9  %           60,591              43,573             17,018              39  %
Total noninterest
expense                  $  68,843           $      65,424          $   3,419                5  %       $  197,067          $  182,225          $  14,842               8  %

Efficiency ratio             51.47   %               52.84  %           (1.37)   %                           52.22  %            60.09  %           (7.87)  %
Core efficiency ratio1       51.47   %               52.81  %           (1.34)   %                           52.21  %            52.59  %           


1 Core efficiency ratio is a non-GAAP measure. See discussion and reconciliation of this measure in the accompanying financial tables. NM – Not significant

Noninterest expense was $68.8 million for the third quarter 2022, an increase of
$3.4 million from $65.4 million in the linked quarter. Employee compensation and
benefits increased $1.0 million from the linked quarter due to an increase in
full-time equivalent associates and higher performance-based incentive accruals.
Other expense increased $2.3 million from the linked quarter primarily due to a
$1.8 million increase in variable deposit costs in certain of the Company's
specialized deposit businesses that are impacted by higher interest rates.

Noninterest expense of $197.1 million for the nine months ended September 30,
2022, increased $14.8 million, from $182.2 million in the prior year period. The
increase was primarily due to the FCBP acquisition that added $20.0 million in
noninterest expense for the nine months ended September 30, 2022 compared to
$7.4 million in the prior year period, an increase in employee compensation and
benefits from merit increases in 2021, and higher deposit servicing costs.
Certain deposit specialty accounts receive an earnings credit that pays costs
used to service the customer. These costs are recorded as noninterest expense
and will fluctuate with the amount of the underlying deposit balances and the
related earnings credit rate. The increase was primarily due to continued
success in generating new customer activity in the deposit specialties and
higher earnings credit rates. Offsetting these increases was a decline of $19.8
million in merger expenses that were recognized in the prior year on the
acquisitions of Seacoast Commerce Banc Holdings and FCBP and $3.4 million in
branch closure expenses recognized in the prior year period.

Income taxes

The Company's effective tax rate was 21.8% for both the third quarter 2022 and
the linked quarter. The effective tax rate was 21.9% and 20.9% for the nine
months ended September 30, 2022 and 2021, respectively. The Company's effective
tax rate for the first nine months of 2022 has increased over the prior year
period due to growth of pre-tax income and the further expansion and
diversification of the Company's geographic footprint which has affected tax
apportionment between states with different income tax rates.


————————————————– ——————————

© Edgar Online, source Previews

Adding $200 to these 4 stocks would be a stroke of genius right now


Making money on Wall Street has proven to be exceptionally difficult in 2022. Since each of the major US stock indices hit their respective all-time highs between the middle of November 2021 and the first week of January 2022, they have all plunged in a bear market. . The Nasdaq Compound saw the worst, with a decline of up to 38%.

Over short periods of time, bear markets can be confusing. The speed of bearish moves, coupled with unrealized losses, can cause even lifelong investors to question their thesis. Yet history has proven time and time again that buying high-quality stocks during double-digit percentage declines in the broader market is a smart move.

Image source: Getty Images.

Even better, since most online brokers have eliminated commissions and minimum deposit requirements, any amount of money – even $200 – can be the right amount to put to work during this downturn.

If you have $200 ready to invest that won’t be needed to cover emergencies or pay bills, adding it to these four stocks would be a stroke of genius right now.

Bank of America

The first phenomenal stock that would make a smart addition with $200 is the money center giant Bank of America (BAC 0.88%). Even though banking stocks are cyclical and recession fears are mounting in the US, BofA has two important trends working in its favour.

For starters, no monetary central bank is more interest rate sensitive than Bank of America. Normally, this would be a bad thing during a bear market, as the Federal Reserve would be expected to step in with a variety of monetary easing measures. But that’s not the case this time around.

With inflation higher than at any time in the past four decades, the country’s central bank has no choice but to aggressively raise interest rates. For BofA, that means billions of dollars in additional net interest income from its outstanding floating rate loans. And he doesn’t have to do any extra work to generate that extra income.

Another oft-overlooked catalyst for Bank of America is its growing digital engagement. Investing heavily in digitization helped boost its number of monthly active digital users to 43 million at the end of September. More importantly, 48% of total sales are made online or through a mobile app, which represents an increase of 19 percentage points compared to the comparable quarter of 2019. Since digital interactions cost a fraction of the cost of interactions in person or over the phone, BofA is able to save money by consolidating some of its physical branches. This makes an already cheap stock all the more attractive.

Enterprise Product Partners

Another great stock to buy with $200 is a midstream oil and gas company. Enterprise Product Partners (EPD 0.52%). While some investors might be wary of energy stocks given the rat race they’ve been caught in during the early stages of the pandemic, Enterprise can easily ease those concerns.

The important thing for investors to understand about Enterprise Products Partners is that they are an intermediary operator. As such, it’s a middleman that operates more than 50,000 miles of transmission pipelines and can store up to 14 billion cubic feet of natural gas. Companies that transport, store and process oil and natural gas, such as enterprise product partners, work on long-term fixed-price or volume-based contracts that produce highly predictable operating cash flows . Thus, large fluctuations in the spot price of oil and natural gas have virtually no impact on the company’s cash flow.

Another key enabler for enterprise product partners is the globally broken energy supply chain. For more than two years, the pandemic has discouraged major energy companies from putting cash to work due to economic uncertainty. And Russia’s invasion of Ukraine has thrown into doubt the transmission of oil and natural gas to parts of Europe. Without the means to rapidly increase global oil and gas supply, energy commodity prices are expected to remain high. This will likely encourage drilling projects in the United States and will only further increase the demand for energy infrastructure.

And if that’s still not enough, Enterprise Products Partners returns 7.6% and has increased its base annual distribution in each of the past 24 years.

A bank employee shaking hands with potential customers in an office.

Image source: Getty Images.

Assets received

A third stock just begging to be bought with $200 is a cloud-based lending platform Assets received (UPST -0.46%). While you’d be right to suspect a lending platform would struggle with rising interest rates, Upstart offers competitive advantages that make it a smart buy, even in a tough environment.

What separates Upstart from its competitors is the company’s artificial intelligence (AI)-based platform that eschews traditional credit score metrics in favor of machine learning. In total, nearly three-quarters of Upstart loan applications are fully automated and approved. This saves time and money for credit institutions.

Additionally, as I’ve pointed out before, Upstart’s AI-powered platform has led to a wider pool of applicants being approved for loans. On average, loans approved by Upstart have a lower credit score than traditionally approved loans. But compared to each other, the delinquency rates were similar for both types of loans. The takeaway is that the company can increase the pool of customers for banks and credit unions without hurting their credit risk.

Another thing to consider is that Upstart is still very at the start of its expansion. Throughout its young history, it has focused on verifying personal loans. But he is now engaged in origination of auto loans and small business loans. Together, auto loans and small business loans are 10 times the market value of loans of personal loans alone. Upstart has industry disruptive potential written all over it.

CrowdStrike Holdings

Finally, cybersecurity company CrowdStrike Holdings (CRWD -0.21%) would be a genius stock to buy with $200 right now. Although growth stocks with premium valuations have done poorly in 2022, there are very good reasons CrowdStrike can maintain its premium multiple as it grows.

On the one hand, cybersecurity has become a basic necessity. It doesn’t matter how the US economy performs, good or bad; hackers and robots don’t take a day off. This need for businesses to protect sensitive data provides a relatively safe demand floor under most cybersecurity companies.

More specific to CrowdStrike, it has the cloud-native Falcon security platform in its corner. Falcon relies on AI to become smarter in identifying and responding to potential end-user threats over time. Even though CrowdStrike’s cybersecurity services are more expensive than those of some of its competitors, the company’s raw retention rate has increased slightly over the past five years. This is an indication that its customers trust the product(s).

But what makes CrowdStrike such a surefire investment for growth seekers is its ability to get existing customers to spend more. While its acquisition of new customers has been impressive, the growth in the percentage of customers who have purchased four or more cloud module subscriptions from less than 10% to more than 70% in five years is staggering. If add-on purchases continue at this pace, the company will have no trouble eventually exceeding an adjusted subscription gross margin of 80%.

Air conditioning rental market won’t show up in CPI inflation data anytime soon


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Rental apartments are displayed in the window of a real estate agent’s office July 26 in the Brooklyn borough of New York.

Spencer Platt/Getty Images

About the Author: Jay Parson is responsible for economics and industry directors for RealPage.

When will inflation cool down? It depends who you ask. But here’s a near certainty: It’s hard for the consumer price index to cool when one of its heaviest components – a rent survey used to represent both renters and owners – is a lagging indicator that is not expected to turn until next year.

Private sector data sources show that monthly rent growth peaked in the summer of 2021, moderated through much of 2022 and turned negative in September. Meanwhile, the CPI shows rents accelerating month-on-month at the fastest pace in 30 years. Why are these measurements so different? The response reveals a baffling challenge to the US Federal Reserve’s efforts to control inflation.

Rent is key to the CPI, but the methodology involved means the Fed is perpetually looking back. The CPI housing category accounts for nearly one-third of the CPI’s weight. It has two major components, the rent and the “equivalent owner’s rent” or REL. A bit of history helps explain OER. When inflation last peaked in the 1970s and early 1980s, rapidly rising house prices played an important role. So the government made a big change in 1983: it removed house prices from the CPI. House prices are volatile, and volatility is expensive since many pension and benefit programs are indexed to the CPI. (Also, economists argued that houses were an investment, not a “consumer” good, and therefore did not belong in the CPI.)

To replace house prices, federal economists created the OER. (Many people now know OER for the infamous landlord survey question: “If someone were to rent your house today, how much do you think it would cost?” is used only for weighting purposes.) The main variable of the OER is in fact the rent, taken from a survey of tenants. The OER uses the same rent survey as used for the “main residence rent” measure. .

A key difference is that the CPI rent measure includes utilities, but utilities are removed for OER (and moved elsewhere in the CPI). This puzzling methodological difference seems to serve little other than cosmetic purposes to make the two measures of housing appear more different than they are. The idea of ​​including utilities with rent likely predates sub-metering, which in the modern era allows utility companies to track and bill individual tenants in a multi-family building.

Conclusion: A continuous survey of renters far exceeds its weight class, serving as the largest data set in the CPI’s largest category.

So why is this methodology only now becoming a big deal? IPC hosting methodologies have been in place for decades, but have received little attention for a few key reasons. First, real estate players and the media generally rely on private sector data providers rather than public rent data. Second, CPI rent trends were so regular that they were rarely reported on. From 1992 to 2021, the CPI’s “primary residence rent” measure averaged 2.8% year-over-year growth, never exceeded 4.3%, and never only briefly turned very slightly negative (bottom at -0.6%) in 2010.

Against this backdrop, it is shocking to see CPI housing costs soaring now. Housing rose 6.6% from September 2021 to September 2022, the largest increase since the early 1980s. Even more alarming is the recent acceleration in monthly trends, which peaked in 30 years of 0.75% in September. These strong monthly increases will remain in year-over-year CPI calculations until the same period next year.

This is where it gets even more interesting. While the CPI shows a surge in rents, many private sector measures show that levels of rent growth have declined significantly in recent months. Data from RealPage shows that effective asking rents fell 0.2% in September, the first drop since December 2020. This dataset also shows that the largest monthly increases occurred in the summer of 2021, an increase which is just beginning to show up in the CPI.

So what’s the problem ? Why is the CPI rent survey so out of step with private sector data providers?

The two sources are measuring different things, a nuance that few outside of economists and Fed watchers appreciate. The CPI attempts to measure contract rents, also known as in-place rents. These are the rents a household pays if they stay in the same dwelling. Most private sector sources only measure asking rent for a new lease.

These methodological differences mean that the CPI is still significantly lagged. Some economists estimate this lag at around 12 months. This is also why CPI housing costs have remained more stable in 2021, even as new rents have increased. And this is also why the CPI did not take into account the larger rent reductions that occurred in 2008-2009 and, to a lesser extent, in 2020.

It makes sense that the CPI measures contract rents instead of asking rents, since contract rents capture what many households actually pay in rent. But it also creates problems. Asking rents are the leading indicator. Renewals are re-priced as leases expire, but are generally priced lower than new leases. A “reverse rent” scenario encourages tenants to move out and move back to another unit in the same community, which costs the landlord more than keeping that tenant in place. Once a lease is signed, this price is locked in for the duration of the lease – usually around a year – and will remain within the CPI metric.

This makes rent a particularly sticky component of the CPI, distinctly different from other goods like food or gasoline, which are both re-consumed (and therefore revisited) far more often.

So if you want to see where the rents are going, you start by asking for the rents.

The Fed is of course aware of this. But that still leaves them with a confusing problem. It looks like this.

  1. For the CPI to cool significantly, the shelter component must cool.

  2. Housing is most dependent on a rent survey, so rents need to cool down.

  3. Any attempt to slow down rents will first appear asking for rents as a leading indicator.

  4. Demand for rental growth is indeed slowing, but this will only show up in the CPI in 2023.

In other words: don’t expect the current slowdown in housing demand and prices (rentals and homes for sale) to impact the official inflation gauge anytime soon.

Guest comments like this are written by writers outside of Barron’s and MarketWatch newsroom. They reflect the views and opinions of the authors. Submit comment proposals and other comments to [email protected].

Can car insurance be purchased for UK drivers in the US?


You can buy US car insurance with a UK driving licence. However, finding the best policy can take time and you have to plan ahead. Here’s how to make sure you’re covered by auto insurance before you arrive.


  • It is possible to buy car insurance in the USA with a UK driving license
  • However, most insurance companies classify a driver as “high risk” if they do not have a valid US driver’s license.
  • A high-risk designation often equates to higher insurance rates
  • The higher rates are worth it, as it is illegal to drive without insurance in the United States.

Although not all insurance companies offer car insurance for foreign drivers, many do, especially large companies. If one is planning to move to the United States from the United Kingdom to study or study abroad long term, he will need car insurance to drive legally. Whatever their goals in coming to the United States, it is important that they understand the country’s car insurance laws and how to get student car insurance in the UK.

How to Find Car Insurance for UK Drivers in the US

Discovery car insurance for international drivers with visa in the United States is difficult, but not much more than getting full coverage as a citizen or local resident. Shop around for car insurance is a somewhat complex and lengthy process in itself. Before deciding on a policy, regardless of its situation, they should do their homework by comparing rates and shopping around for discounts.

The only difference between their car insurance buying process and that of a US citizen is that they have slightly fewer options available to them. This is because many auto insurance companies cater strictly to low-risk drivers.

For a driver to earn the “low risk” designation, he or she must present a valid US driver’s license for the state in which he or she plans to drive. Drivers must also demonstrate their ability to drive safely and obey traffic laws. Unfortunately drivers with a UK license find it difficult to prove their experience or knowledge. As a result, most UK licensed drivers cannot obtain low risk designations.

There are several companies that issue policies for all types of drivers. As an international driver, it may be worth shopping around for these companies. Although we can’t know for sure which companies offer high risk car insurance, the best thing to do is call a company and ask. Large companies, such as Progressive, State Farm and GEICO, are generally willing to take on more risk than their smaller counterparts.

Can the UK driving record be used to obtain a low risk designation?

Unfortunately, it doesn’t matter how good a driver is in the UK – if they don’t have a valid US driving license most insurers consider them inexperienced and therefore high risk. A high-risk designation makes it difficult to obtain coverage. If a person can find coverage, they will likely have to pay the high-risk driver surcharge.

Getting insurance on a rental car as an international driver

Finding coverage as an international driver may not be a problem when considering renting a car in the United States You can rent a car without insurance if they take out insurance with the rental company. Most car rental companies offer coverage up to the minimum amounts required by the state. These companies also allow drivers to purchase additional insurance for additional protection.

If one is planning to visit the United States for a short period of time, rental car coverage may suffice. However, keep in mind that most state minimums only cover the cost of damage one causes to another person’s vehicle. If they cause an accident, they may have to pay the cost of repairing or replacing the rental car. For this reason, they should consider purchasing additional coverage if they plan to stay in the United States for an extended period.

Getting car insurance for students in the UK

As an international student in the United States, the options for obtaining car insurance are more or less the same as for non-students. They need to find an insurer willing to cover a “high risk” driver. They probably won’t be able to use their driving experience in their home country to get cheaper fares.

Unfortunately, as a student, their path to auto insurance can be a bit more difficult. Some auto insurance companies require international students to have three years of driving experience in the United States before they will be covered.

As an international student, they have an advantage over non-students. Their designated school official can provide them with a list of car insurance companies that cater to international drivers and maintain more lenient requirements.

Do you need car insurance as a British driver in the USA?

Although car insurance requirements vary from state to state, the fact is that all but two states require drivers to maintain minimum coverage. If a police officer catches one driving without the minimum coverage, they face fines, license suspension and jail time.

Two states do not maintain minimum coverage requirements: Virginia and New Hampshire. However, one must obtain an insurance waiver, which they can only do once they show proof of financial responsibility. In other words, they must demonstrate that they can pay up to a certain amount in damages they could cause in an accident. Additionally, they may also have to pay uninsured vehicle charges.

Do you need a US license to purchase auto insurance?

One does not necessarily need a US driver’s license to obtain coverage in the United States. However, to drive there legally, they need an international driving permit. They must obtain the IDP from the country that issued their driver’s license prior to their arrival in America, as the United States does not issue them.

Obtaining an IDP is quite easy. You must be at least 18 years old and have a valid driver’s license from your country of origin.

Car insurance for UK drivers in the US: the result

Finding car insurance as an international driver takes a bit more time and effort than if you already have a US driver’s license. However, when armed with the right knowledge and resources, affordable coverage can be found in no time.

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Global stocks mostly fall as investors watch corporate earnings


BANGKOK (AP) — Stocks were mostly down in Europe and Asia on Tuesday as investors braced for a slew of corporate earnings reports.

Shares rose in Paris and Tokyo but fell in Shanghai and London, where the FTSE 100 fell as Britain’s third prime minister this year, Rishi Sunak, prepared to take office and appoint a cabinet. to deal with the economic and political crises in the United Kingdom.

US futures edged up 0.1%, but oil prices retreated.

Markets remained jittery over the outcome of a Communist Party congress in China, where key reformers were barred from the highest ranks of the ruling party leadership. Hong Kong’s benchmark index edged down 0.1% to 15,165.59, failing to hold onto early gains after a 6.4% selloff the previous day. The Shanghai Composite Index fell less than 0.1% to 2,976.28.

Chinese stocks tumbled after a Communist Party congress in Beijing where leader Xi Jinping gave himself an unprecedented third five-year term and installed key allies as top ruling party leaders, crushing officials considered as pro-market reformers.

Xi wants a bigger role for the Communist Party in China’s trade and technology development, raising fears that centralized control could hold back an already slowing economy.

But that might not mean major policy changes, said ING’s Iris Pang.

Indeed, “most, if not all, of the existing policy decisions have been agreed with Xi. This applies to potential changes to the central bank governor, banking regulator and economic adviser.”

The Chinese yuan fell to a 15-year low of 7.3089 to the US dollar after China’s central bank appeared to ease in trying to counter market forces that were pushing the tightly controlled currency lower. The yuan fell as interest rate hikes in the United States encouraged banks and other traders to convert cash into dollars in search of higher yields.

In September, Chinese commercial banks were ordered by the People’s Bank of China to keep the exchange rate stable and not bet on a weakening yuan. But after the ruling party’s congress ended at the weekend, the central bank set the yuan’s starting price for trading on Tuesday at an unusually low level.

Elsewhere in Asia, Tokyo’s Nikkei 225 rose 1% to 27,250.28, while Seoul’s Kospi fell 0.1% to 2,235.07. Australia’s S&P/ASX 200 gained 0.3% to 6,798.60. India’s Sensex slid 0.5%, while Taiwan’s benchmark lost 1.5%.

On Wall Street on Monday, stocks extended their gains from a week ago as investors braced for a week of heavy earnings from big tech companies.

The S&P 500 rose 1.2%. The Dow Jones Industrial Average rose 1.3% and the tech-heavy Nasdaq composite closed up 0.9%. The Russell 2000 Index climbed 0.4%.

Google’s parent company, along with Facebook’s parent company Amazon and Apple, all released their latest financial results this week. They are among the most expensive stocks in the benchmark S&P 500 and their earnings this week could spell big moves, up or down, for the broader market.

Several large companies outside the tech sector are also reporting earnings this week, including Coca-Cola, General Motors and Caterpillar.

Investors are looking for indications of the impact of inflation on various industries. Prices for everything from clothes to food remain at four-decade highs, prompting companies to raise prices and cut costs, while squeezing consumers.

The Federal Reserve and central banks around the world have raised interest rates to keep inflation under control, and those increases have weighed on more expensive stocks, like tech companies, by making lower-risk bonds more attractive in a stock market. volatile.

The Fed is expected to raise interest rates by three-quarters of a percentage point at its next meeting in November.

Economists and investors fear that central banks could go too far in slowing economic activity, triggering a recession. They are looking for any signs that they might ease rate increases. The US economy is already slowing, contracting in the first half of the year.

The US government will release its third quarter gross domestic product report on Thursday.

In other exchanges, the dollar fell from 148.94 yen to 148.91 Japanese yen. The euro fell to 98.70 cents from 98.75 cents.

Benchmark U.S. crude fell $1.35 to $83.23 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international price standard, fell $1.22 to $89.99 a barrel.


AP Business Writer Joe McDonald in Beijing contributed.

This monster under-the-radar growth stock is up in 2022 and may keep climbing


Xponential Fitness (XPOF 1.72%) slips under the radar of many investors, but is slowly becoming one of the best growth stocks in the market. In fact, the stock’s growth has been so impressive that it’s one of the few growth stocks in the green over the past year, posting an exceptional 20% gain over the past 12 months. The S&P500 and Nasdaq Compound are down 18% and 29%, respectively, over the same period.

Here’s why it looks like Xponential Fitness shares could have plenty of room to keep rising over the long term.

Image source: Getty Images.

What is Xponential Fitness?

Xponential Fitness is a fast-growing franchisor of a portfolio of fitness studios, including brands such as Club Pilates, Pure Barre, Cycle House, Rumble, and more. Its franchises focus on specific fitness disciplines, ranging from pilates and yoga to boxing.

Xponential Fitness is the world’s largest franchisor of boutique fitness brands. Its total footprint of 2,100 US studios is nearly double that of its next competitor, Orange Theory, which had 1,191 locations as of September.

Skyrocketing revenue growth

In its most recent quarter (ended June 30), Xponential Fitness won over investors by growing revenue 66% year-over-year to $59.6 million — and at a time when some observers are skeptical. expected lower incomes due to higher inflation and lower consumer purchasing power. .

Xponential Fitness is targeting $70 million in adjusted EBITDA for fiscal 2022, which would be nearly triple the $27 million it posted in fiscal 2021 and seven times more than the $10 million which he won in 2020, although it should be noted that the 2020 results are likely artificially low because COVID caused many gyms and fitness studios to close.

The company is growing its revenue at an impressive rate, growing from $59 million in 2018 to the $216 million it is targeting in 2022, which would equate to a compound annual growth rate (CAGR) of 29.3%.

Recurring and resilient revenue

Xponential Fitness is a franchisor, and it’s growing its profits and revenue at this breakneck pace by acquiring brands, recruiting new franchisees, and opening new locations. It grew to 10 brands in just a few years and nearly tripled its total number of locations, from 818 in 2017 to 2,357 by the end of Q2 2022.

The footprint is expected to continue to grow, as the company says its franchisees are contractually obligated to open an additional 1,881 new locations in North America. Xponential says it offers an attractive value proposition for franchisees with operating margins of 25% to 30%, a payback period of two and a half years and a return on investment of 40%.

The more franchises that open, the more royalties the business can earn, and as a light franchisor, a large portion of those royalties will go directly to its free cash flow. This franchise-based model is particularly attractive because it provides the business with predictable and recurring revenue streams. The franchise model is also advantageous in times of rising inflation, because royalties are based on franchisee revenues, not profits, which could decline as costs rise.

I also like that Xponential Fitness is thinking outside the box with the extra effort to expand their B2B (business to business) offerings in creative ways. For example, Xponential partners with Lululemon Athleticait is Mirror Business will offer home workouts from four of its brands on the Mirror platform.

The company is also a partner of Celsius Fund, one of the fastest growing energy drink brands, and will offer its drinks in CycleBar stores. In addition, Princess Cruises will offer various Xponential brands on board its fleet of 15 ships through an exclusive partnership.

Xponential Fitness is a buy

All told, it looks like a compelling growth stock with plenty of trail. There are definitely risks here. Another round of lockdowns or shutdowns could bring the in-person fitness industry to a halt again, as it did in 2020.

Also, if the stock isn’t expensive, it isn’t cheap either. It has a multiple of approximately 15x enterprise value/EBITDA based on the $68-72 million EBITDA the company is targeting for 2022, which could drop if the broader market continues to weaken. struggle.

Perhaps the biggest challenge facing the title is the fact that the fitness industry is notoriously fickle and has seen many fads come and go over the years. Look no further than the likes of Platoon and F45 Training for examples of fitness stocks that garnered a lot of hype as the latest trend, but ultimately suffered high-profile crashes, destroying much of shareholder capital.

However, the fact that Xponential Fitness has a large portfolio of different brands, and the fact that this portfolio is constantly changing, should help mitigate the risk that a particular brand or style of exercise will go out of style.

If Xponential Fitness can continue to grow revenue by opening more franchises and increase profitability by converting that revenue into free cash flow, the stock could be worth much more than it is today.

Tenants sue software company and landlords for artificially inflating prices


Tenants are suing Texas-based software company RealPage and some of the nation’s largest property management firms for allegedly forming what they call a “cartel” to artificially inflate apartment prices above competitive levels.

Five tenants challenge RealPage and seven property management companies days after ProPublica released an investigation into landlords’ use of RealPage’s proprietary YieldStar algorithm to push the highest possible rental prices for apartment tenants across the United States.

“RealPage strongly denies the allegations and will vigorously defend itself against the lawsuit,” RealPage spokeswoman Natalie Dent said. “Beyond that, we do not comment on ongoing litigation.”

Earlier this week, in response to the ProPublica story, RealPage told the Dallas Morning News, “Revenue management software can’t control the market because it doesn’t account for or have visibility into the market availability. Additionally, the article implies that vacancy and resident turnover have increased due to revenue management, which is the exact opposite of what has happened, as both have steadily declined over the course of the year. decade, although the use of revenue management software has increased.

The class action lawsuit was filed in the U.S. District Court for the Southern District of California on behalf of all tenants of multifamily real estate leases from landlords who used RealPage’s pricing or lease renewal software.

“Today’s lawsuit plausibly alleges that rental housing landlords coordinated to drive up rents to unprecedented levels, exacerbating the national affordable housing crisis,” said Gary Smith Jr., attorney at Hausfeld representing tenants. “We look forward to asserting our clients’ rights in this important federal antitrust litigation.”

The lawsuit says the landlords independently priced their leases based on their own assessments of how best to compete with other landlords until around 2016, when they agreed to use a common third party, RealPage. , which collected prices and supply levels in real time and used this data. make price and supply recommendations. The owners would follow RealPage’s suggestion in the hope that others would do the same, the suit said.

The lawsuit targets some of the nation’s largest apartment complex managers, including Greystar Real Estate Partners LLC, headquartered in Charleston, SC; Dallas-based Lincoln Property Co.; FPI Management Inc., based near Sacramento; Mid-America Apartment Communities Inc., based in the Memphis area; Equity Residential in Chicago; Essex Property Trust, headquartered in the San Francisco Bay Area.; and three Seattle-based companies: Avenue5 Residential LLC, Thrive Communities Management LLC and Security Properties Inc.

None of the companies immediately responded to requests for comment.

The lawsuit claims that RealPage collected sensitive, non-public data from participating owners and used it to recommend prices to other operators.

“RealPage claims that it fixes the prices for [landlords’] ‘properties as if we owned them ourselves’ — i.e. [landlords’] cartel replicates the market outcomes that would be observed if they were a residential lease monopoly, which is the goal of any cartel,” the lawsuit said.

RealPage said landlords must accept recommended prices at least 80% of the time to be more effective at raising rents, according to the lawsuit. RealPage lead architect Jeffrey Roper was quoted in the ProPublica article and in the lawsuit as saying, “If you have idiots dumping, it costs the whole system.

The lawsuit quoted a RealPage employee as saying that the owners adopted 80% to 90% of the prices without any discrepancies.

“Like a [landlord] explains, while “we are all technically competitors,” RealPage “helps us work together,” “to work with a community in pricing strategies, not to work separately,” the lawsuit said.

The lawsuit also claims the owners used RealPage services to coordinate supply levels to avoid price competition. He said RealPage provides landlords with information to help them collectively oversupply the market and keep prices high by “staggering” lease renewals, keeping vacant units unoccupied for periods of time.

The North Texas-based property management tech giant has a presence in 22 million apartments around the world. RealPage became the nation’s leading provider of rent-setting software for landlords after a controversial merger with competitor Lease Rent Options in 2017, according to the ProPublica survey.

The company sells software and operating systems and provides analytics to the rental industry. It grew through a series of acquisitions before San Francisco-based private equity firm Thoma Bravo, one of the world’s largest private equity firms, bought the company in 2021 in part of a $10.2 billion deal that took RealPage out.

Travelers skip tough commutes with RV delivery


Audrey Patterson, a San Diego-based mother of two, often vacations in an RV with her family. But she’s only actually driven an RV once — a brief stretch near Burbank, Calif. — en route to Yosemite National Park for their 2021 summer vacation. from downtown Los Angeles is a tangle of freeways, difficult to navigate by any vehicle.

“I was super upset and just felt bad for everyone, especially my husband,” Patterson said.

Patterson’s husband usually drives. At the time of the family’s 2022 summer vacation — a camping trip to Big Sur, California — her husband couldn’t drive because he was arriving a day late.

With the memory of Burbank fresh in her mind, coupled with the fact that she would be alone raising her two- and four-year-old boys, Patterson intended not to drive an RV in Big Sur.

“My husband suggested we look into whether we could have an RV delivered, and I was like, ‘oh my God, yes,'” she says.


RV delivery is one of the latest trends in camping, shaking up the traditional model where you trade in your car for an RV at a rental location. One of the biggest RV delivery operators is RVshare, a company that operates like Airbnb for RVs. And while not all of the RVs offered there are deliverable, RVshare said nearly 40% of its RV rentals have been delivered so far in 2022, compared to 27% in 2021 and 16% in 2020.

With RV delivery, you don’t have to worry about driving, gas mileage, and liability. Instead, you simply arrive at a campground at an RV already set up for you. Patterson rented through a similar service called Outdoorsy, which says 70% of its listings offer delivery.

Other delivery companies own and operate the recreational vehicles themselves. Most are regional, like 101 RV Rentals of Southern California, which delivers to campgrounds in Santa Barbara, California.


RV deliveries can be great for nature lovers, but that’s not the only clientele. It is also convenient for those traveling to a destination with no available hotels or a place where hotels are expensive.

RVshare said its top delivery destination in 2021 is The Campsites at Disney’s Fort Wilderness Resort, a Disney-owned campground a short ferry ride from Florida’s Magic Kingdom theme park — and it’s becoming increasingly popular. According to RVshare, RV deliveries to Fort Wilderness for the first three quarters of 2022 increased by 12% compared to the same period in 2021.

The cost of camping at Fort Wilderness Resort, including full RV hookups, is $1,300 for a six-night stay during the first week of March 2023. For a six-person cabin at the resort during the same period, you will pay $3,600 .

Of course, the cost of renting and delivering an RV eats into the $2,300 difference. But on delivery sites like RVshare and Outdoorsy, there are dozens of listings available large enough to accommodate six people that cost less than $1,000 for the week, including installation and delivery. A few even cost less than $500, making an RV rental one of the cheapest ways to sleep in Disney World.


Some Campgrounds Prohibit Delivery: Rules vary by campground and are inconsistent between state and national parks. For example, RV delivery is prohibited in Yellowstone National Park, but is acceptable for certain sites in Yosemite National Park.

You can’t stop overnight anywhere you want: For many, part of the charm of an RV trip is the ability to stop along the way.

Patterson says she prefers delivery if she gets to the campsite in one day with minimal stops. But for a leisurely trip with lots of stops, she might default to driving the motorhome, especially since it gives her kids room to spread out.

Delivery costs can be confusing: Outdoorsy allows owners to set delivery costs, which means that a cheaper RV can sometimes end up being more expensive if the delivery costs are high. Some companies charge a flat rate for delivery (usually $150 to $300), while others charge by distance (usually $4 to $6 per mile). Even then, most limit deliveries to a certain area, which varies by owner.

You Can’t Pack That Much: For rentals near you, you can pack the RV from your own driveway. Otherwise, you will only be equipped with what you can put in the vehicle that brought you to the campsite. This particularly limits bulky items, such as bicycles and surfboards.


RVs can be one of the most desirable ways to camp, offering conveniences like air conditioning, kitchens, power outlets, and Wi-Fi. Many of their challenges can be alleviated by delivery.

You save gas by driving a car—not an RV—to your destination: Cruise America says that, on average, its RVs get 6-10 mpg. Instead, you drive your car – which gets better gas mileage – down the road and have an RV delivered from a location closer to your destination.

Insurance coverage is often cheaper: the rental company Outdoorsy requires all renters to have insurance covering liability and damage. For fixed deliveries, this insurance is cheaper because you do not pay to cover the platform on the road. Sometimes it’s less than a quarter of the cost of Full Coverage from Outdoorsy to insure an RV you’ll be driving.

No expensive setup: Motorhomes can be tricky (especially for beginners) to plug in, which is necessary to access fresh water, sewer and electricity.

Since Patterson doesn’t have a place to store an RV if she had one, she rents every time. But each type of RV has its drawbacks. With a van, she has to remove the hookups and secure the items inside each time her family leaves the campsite. A removable RV trailer offers more freedom.

“But maneuvering detachable trailers on twisty roads is tough,” she says. “With VR delivery, everything is almost upside down.”


This article was provided to The Associated Press by personal finance website NerdWallet. Sally French is a writer at NerdWallet. Email: [email protected]


NerdWallet: The best way to rent a motorhome for beginners (and what it costs) https://bit.ly/nerdwallet-beginners-guide-to-renting-an-rv

Fed officials need to stop talking out of turn



The Federal Reserve is one of the most powerful institutions in the world. When its policymakers speak, they have immense potential to move markets, especially at a time when the central bank’s pitched battle against inflation is arguably the most important story in the global economy. So it should be obvious that Fed officials need to carefully weigh when and where they speak, and err on the side of discretion.

Apparently it’s not obvious enough.

Last week, James Bullard, chairman of the Federal Reserve Bank of St. Louis and voting member of the Federal Open Market Committee, delivered a speech on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. It was not a public address. Bullard spoke at a private event that Citigroup Inc. – a Fed-supervised bank – had organized for a select group of clients, without any invited media. His comments reportedly focused on monetary policy and financial stability, topics that could hardly be of greater importance in this time of global market volatility.

The St. Louis Fed pointed out that Bullard received no compensation, made similar remarks publicly before and after, and attended the event in the past. Yet neither apology mitigates the fundamental transgression: the exclusive time with Bullard clearly had value for those present and for Citigroup, which means he effectively allowed his public position to be used for private gain. The suggestion that he has done this before – that such occurrences are routine – makes the optics even worse.

How should the Fed react?

A similar incident last year should be instructive. When it emerged that some Fed officials had made securities transactions in 2020, at a time when the central bank was undertaking emergency interventions that affected the value of these securities, the Fed faced a dilemma. As with Bullard, the actions of officials may not have violated the letter of the relevant codes of conduct. But they were clearly inappropriate – so the Fed reviewed and rewrote the rules.

The Bullard incident deserves the same response. Fed officials should be allowed to hold private meetings for the purpose of gleaning information on what is happening in the markets and the economy. They shouldn’t be allowed to share their views on monetary policy in a closed forum, let alone a forum organized by a for-profit company that the Fed itself is supposed to regulate. The rules should change – and the Fed should ensure that no policymaker gives away what rightly belongs to the public.

More from Bloomberg Opinion:

• Federal Reserve Messaging Needs an Update: Editorial

• The problem of telling the Fed to stay the course: Clive Crook

• The Fed teaches Americans a lesson on jet lag: Allison Schrager

The editors are members of the Bloomberg Opinion Editorial Board.

More stories like this are available at bloomberg.com/opinion

TNB, Digi.Com, Hextar Industries, Caely, GIIB, Yinson, Dayang Enterprise, T7 Global, Keck Seng, Pestech, K-One and ILB


KUALA LUMPUR (October 20): Here is a brief recap of some corporate announcements that made the news on Thursday, October 20, involving Tenaga Nasional Bhd (TNB), Digi.Com Bhd (Digi), Hextar Industries Bhd, Caely Holdings Bhd , GIIB Holdings Bhd, Yinson Holdings Bhd, Dayang Enterprise Holdings Bhd, T7 Global Bhd, Keck Seng (Malaysia) Bhd, Pestech International Bhd, K-One Technology Bhd and ILB Group Bhd.

National utility Tenaga National Bhd (TNB) will re-power the Sungai Perak Power Stations (SSJ Sungai Perak) with a capacity of 650.75 megawatts (MW) to support Malaysia’s aspiration for renewable energy (RE) and ensure its sustainable business growth. TNB, through its wholly owned unit, TNB Power Generation Sdn Bhd, has received approval from the Energy Commission to implement the Six Station Life Extension Program at SSJ Sungai Perak, with an investment of RM5.8 billion starting this year.

Digi.Com Bhd (Digi) saw its net profit for the third quarter ended September 30, 2022 (3QFY22) fall by 15.45% to RM264.48 million from RM312.82 million a year ago, mainly due to the provision welfare tax and higher net finance costs, coupled with a higher net loss on depreciated and disposed of fixed assets, as well as lower interest income. Quarterly revenue fell slightly to RM1.53 billion from RM1.58 billion in 3QFY21 as total services revenue fell 1.8% year-on-year, despite robust growth in postpaid, business-to-business and mobile services. the fiber. Weak earnings at 3QFY22 led to a 15.96% decline in Digi’s net profit for the cumulative nine-month period (9MFY22) to RM720.67 million from RM857.55 million a year earlier, while revenue was down 3.38% to RM4.59 billion from RM4.59 billion. 75 billion in 9MFY21.

Hextar Industries Bhd recorded a net profit of RM3.09 million for the fourth quarter ended August 31, 2022 (4QFY22), a big jump from RM232,000 in the same quarter last year, thanks to average selling prices higher in the fertilizer division and on the takeover of the heavy equipment and equipment rental divisions. The group said its revenue for the quarter jumped 105% to RM61.4 million from RM29.96 million a year earlier. For the full financial year 2022 ended August 31, 2022 (FY22), Group net profit increased several fold to RM8.86m from RM1.64m as revenue more than doubled to reach RM257.82 million from RM123.04 million.

Caely Holdings BhdThe new board, led by executive chairman Ng Keok Chai, said Virdos Lima Consultancy (M) Sdn Bhd would resume its forensic audit into allegations of suspicious and improper dealings at the drugmaker’s wholly-owned subsidiary. lingerie based in Perak, Caely (M) Sdn Bhd. In June, two months after his appointment as forensic auditor, Virdos Lima called on him to resign, saying he could not proceed with his forensic audit because critical information was not available. Contacted Thursday, a spokesperson for Caely said The edge that Virdos Lima, with the support of the company’s new board of directors, will be able to continue its forensic investigation.

Independent Investigative Accountant Ferrier Hodgson MH Sdn Bhd (FHMH) found that there were no fraudulent transactions or misconduct on the part of GIIB Holdings Bhd as alleged by former executive director Wong Weng Yew. Suspicious transactions include the disposal of machinery from GIIB Rubber Compound Sdn Bhd to Top Rate Engineering Works; sale of assets by Big Wheel Green Tires Sdn Bhd to Looe Chee Keong for an amount of RM2.68 million, and settlement of disputes owed by Looe for RM5 million respectively. They also included Goodway Marketing Sdn Bhd’s (GMSB) agreements and transactions with Project A Automotive Sdn Bhd, which include refurbishment costs of GMSB amounting to RM62,000, rental deposits and utilities of a amount of RM16,000, as well as advance payments by Wong Ping Kiong to the GIIB from March 17, 2020.

Yinson Holdings Bhd has secured a one-month extension of its floating storage and offloading (FPSO) charter contract called FPSO Adoon for RM16.04 million. Yinson’s indirect unit, Adoon Pte Ltd, has reached an agreement with Addax Petroleum Development (Nigeria) Ltd to extend the contract from October 17 to November 16.

Dayang Enterprise Holdings Bhd secured a contract amendment and extension to provide offshore maintenance, construction and modification services from Petronas Carigali Sdn Bhd from September 20, 2022 to December 31, 2023. It did not disclose the value of the contract, entered into through its wholly-owned subsidiary Dayang Enterprise Sdn Bhd, as it is based on work orders issued by Petronas Carigali throughout the duration of the extended contract.

T7 Global BhdThe unit has secured a work order from Hibiscus Oil & Gas Malaysia Ltd to undertake well workover works, as well as plugging and abandonment services. The two-year work order has been awarded to Tanjung Offshore Services Sdn Bhd under the Pan Malaysia framework contract, on call.

Keck Seng (Malaysia) Bhd said he was allocating 20 acres of his land to the Pasir Gudang City Council to facilitate the development of a new administrative center in the city. The award was made as part of an agreement signed on Thursday between the group and its 99.8% subsidiary, Lim & Lim Plantations Bhd.

Pestech International BhdThe unit has a transmission system project in Cambodia for 118 million dollars. Pestech said its 60% indirect subsidiary Diamond Power Ltd has signed an agreement with Cambodian Transmission II Co Ltd, a 100% subsidiary of Leader Transmission Ltd, to have the 230kV Kampong Cham-Kratie transmission system.

K-One Technology Bhd plans to set up a joint venture in Vietnam to conduct cloud computing business. On Thursday, its wholly owned unit G-AsiaPacific Sdn Bhd signed an agreement with Vietnet Distribution Joint Stock Company.

ILB Group Bhd abandons plans to purchase 1,124 square meters of freehold commercial land with retail lots in Petaling Jaya for RM15.9 million. The logistics services company and Impian Nuri Sdn Bhd have mutually agreed to terminate the agreement, after a condition precedent could not be fulfilled by the October 31 deadline.

How rent-to-own can scam you out of your money and time


Photo: ilikeyellow (Shutterstock)

You’ve probably heard or seen online rent-to-own ads as a potential solution to not being able to afford a home, but you probably haven’t heard how they’ve been used to entice many people to spend money, time, and effort on a home that never ended up being theirs.

What is hire-purchase?

Rent with option to buy is a particular type of agreement where you plan to become the owner of the house after a period of time agreed with the seller. Think of it as leasing a car that gives you the option to buy it right before the end of the lease. If done correctly by both parties, the option can be beneficial for those involved. However, there have been a few bad apples in the rent-to-own market that have taken advantage of many who expected to be homeowners.

Read more

What are the risks ?

Most lease-to-own agreements are far less forgiving than the conventional lease or purchase agreements we are used to. People sign contracts for deeds, where the buyer buys an agreement for the deed rather than buying the deed itself. If the tenant does not follow the details of the deed to the letter, the contract is broken and the seller has every right to evict you and keep all the equity you have invested in the house.

In 21 years study conducted by the Texas Department of Housing and Community Affairs, less than 20% of potential buyers became homeowners. Nearly half of them had defaulted on their payment obligations and had their contracts terminated.

According to a recent report by AtlanticMany of the mishaps of being tricked into a rent-to-own situation happen because of a lack of understanding of the process. Because many renters think the house will be theirs, they usually “invest” a lot of money into the house to improve it. This is usually the case because many rent-to-own homes are “fixer”, meaning they are not in the best living condition. Tenants can then miss payments and therefore break their contracts. You end up with a very nice house that your landlord still owns and a big hole in your pocket.

How to properly rent with option to buy:

  • Read the contract. As basic as this sounds, it cannot be overemphasized. Make sure you fully understand the parameters that are required of you and understand what the penalties are if you violate them. Some things you need to make sure of are in your contract: the price of the house, the cost of rent, and the deadline by which you can buy. Make sure the contract tells you what percentage of the rent will go towards buying the house and how those payments are to be made.

  • Watch the wording of the eviction. Make sure the terms don’t put you in a position where you can be easily evicted, especially after investing in the home through maintenance, improvements, or equity. If you are expelled, make sure you are compensated in some way for your contribution.

  • Ask a lawyer to read between the lines. It goes without saying that most of us are not trained lawyers who know how to read an engineering lease. Spending the money to have someone review it and get their feedback will be well worth the investment considering you’re committing to a multi-year contract that will cost you thousands of dollars.

  • Keep an eye on home loans. Once you know you have reached the agreed time when you are able to buy the house, be ready to buy the property with a home loan. In this way, you get out of the risky lease-purchase contract and become the owner of the house.

Rent-to-own can be a great option for people who want to become homeowners, but can’t compete in their market or qualify for conventional home loans. It might seem like a solid option to achieve the American dream, just make sure you don’t sign a contract that will give you an American nightmare.

Sharon Dry Approved for Los Alamos County Council – Los Alamos Reporter



We, the undersigned, know Sharon Dry as a longtime member of the Los Alamos community. We endorse him for county council and ask you to vote for Sharon on November 8th. Sharon understands the nuances of living in Los Alamos since she has lived in the county for most of her life.

Sharon has been active in the community and has served in many local organizations since childhood. She has worked alongside leaders and youth from Los Alamos to build homes in Mexico with the United Church. She has served our local youth for several years with Young Life and as a Girl Scout leader. Most recently, Sharon served on the Los Alamos County Registration Board and Canvassing Board.

Sharon has demonstrated that she is truly committed to living and working in our community. She began her working life in Los Alamos as a teenage assistant to her father Robert Cake, who served as a local pharmacist for more than 30 years. She worked at our city stalwarts, Metzger’s True Value and Los Alamos National Bank before it was purchased by Enterprise Bank, and for local attorneys. Sharon also has experience as a business owner. She completed her career with over 20 years of service at LANL as a patent paralegal.

Sharon brings many valuable skills, as well as integrity and honesty. She works hard and with enthusiasm and will be engaged in the issues and opportunities of our unique community. We know she will apply her critical thinking and problem-solving skills in service to Los Alamos.

Sharon has four family generations living in Los Alamos. She is devoted to her family and cares about their needs. She will listen to your family’s concerns and vote accordingly. She expressed to each of us her commitment to reviving local businesses.

We think Sharon Dry is the most sincerely committed candidate on the county council ballot. We wholeheartedly endorse Sharon and encourage every local voter to vote for Sharon Dry on November 8th.


Sharla Dempsey Charlene Hutchison

Mike Dempsey Will Hutchison

Bennie Glover Ellen Ballard

Roger Glover Sondra Wyman

Robin Naffziger Lorina Justus

Peter Naffziger David Hampton

Lori Hinojosa Lisa Hampton

Bob Poe Phil Ice Rink

Wanda Poe Nancy ice rink

Sharon SeitzJoshua Muck

Jolyn McTeigue Heather Muck

Beverly BenderCharles Bonner

Brent Talley Dee Dee Bonner

Nancy Talley Jan White

Marilyn PruittChristian Stone

BigBear.ai Holdings, Inc. (NYSE:BBAI) Sees Significant Increase in Short-Term Interest


BigBear.ai Holdings, Inc. (NYSE: BBAI – Get Rating) enjoyed significant growth in short-term interest in September. As of September 30, there was short interest totaling 602,200 shares, a growth of 25.1% from the total of 481,200 shares as of September 15. Based on an average trading volume of 1,430,000 shares, the day-to-cover ratio is currently 0.4 days. Approximately 5.2% of the company’s shares are sold short.

Hedge funds weigh on BigBear.ai

Several institutional investors and hedge funds have recently changed their holdings in BBAI. Greenhaven Road Investment Management LP acquired a new position in shares of BigBear.ai in the second quarter worth approximately $2,291,000. Invesco Ltd. acquired a new stake in BigBear.ai during the first quarter worth approximately $2,953,000. Goldman Sachs Group Inc. acquired a new stake in BigBear.ai during the first quarter worth approximately $142,000. Finally, Credit Suisse AG acquired a new stake in BigBear.ai during the second quarter worth approximately $55,000. 3.90% of the shares are currently held by institutional investors and hedge funds.

BigBear.ai is trading down 2.3%

Shares of BBAI were down $0.03 during Monday trading hours, hitting $1.27. The company had a trading volume of 92,355 shares, compared to an average volume of 806,248. The company has a fifty-day moving average of $1.53 and a 200-day moving average of $4.70. BigBear.ai has a 12 month minimum of $1.19 and a 12 month maximum of $16.12. The company has a debt ratio of 33.05, a current ratio of 2.35 and a quick ratio of 2.35.

BigBear.ai (NYSE:BBAI – Get Rating) last released its quarterly earnings data on Tuesday, August 9. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.36). The company posted revenue of $37.61 million for the quarter, versus a consensus estimate of $40.87 million. As a group, analysts expect BigBear.ai to post -0.79 earnings per share for the current year.

Changes to analyst ratings

Separately, Oppenheimer downgraded shares of BigBear.ai from an “outperforming” rating to a “market performing” rating in a Wednesday, Aug. 10 research report.

About BigBear.ai

(Get a rating)

BigBear.ai Holdings, Inc provides artificial intelligence and machine learning for decision support. The Company operates through two segments, Cyber ​​& Engineering and Analytics. The Cyber ​​& Engineering segment offers high-end technology and management consulting services. It focuses on the areas of cloud engineering and enterprise computing, cybersecurity, computer network and wireless operations, systems engineering, and strategy and program planning.

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This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider BigBear.ai, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes viral…and BigBear.ai didn’t make the list.

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The use of rental payment history in mortgage underwriting is a


FHLBank San Francisco and Urban Institute Collaborate on Research Examining Ways to Advance Racial Equity in Homeownership and Wealth Creation

SAN FRANCISCO and WASHINGTON, Oct. 17, 2022 (GLOBE NEWSWIRE) — More Black renters could become homeowners if the housing finance industry more fully embraces the use of rental history and other alternative data in underwriting mortgage loans.

The technologies and developments needed to make this a reality, however, are only just beginning to emerge. Transparent, large-scale pilots are needed to ensure data is used appropriately and effectively, and many housing finance actors will need to show commitment to ensure changes are equitable.

A comprehensive new report from the Racial Equity Accelerator for Homeownership – a collaboration of the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and the Urban Institute – examines the current mortgage landscape and analyzes how Black households could benefit from the adoption of alternative data, in particular the history of lease payments, without increasing the risk that lenders take.

“Communities of color face structural and systemic barriers that exclude many people from homeownership in America,” said Teresa Bryce Bazemore, President and CEO of FHLBank San Francisco. “A better understanding of these barriers is critical to addressing them, and this Urban Institute research represents a roadmap to closing the knowledge gap while pushing the mortgage finance industry to adopt tangible solutions that ensure equity in buying a home. »

Closing the Black-White Homeownership Gap Through Underwriting Innovations: The Potential Impact of Alternative Data on Mortgage Underwriting reports that there is a 30 percentage point gap in homeownership between black and white households in the United States. The gulf is wider now than it was in 1960, before federal law explicitly prohibited racial discrimination in housing.

“Our analysis shows that the black-white gap in homeownership will persist, if not widen, unless stakeholders design and implement intentional innovations in lending. mortgages,” said Janneke Ratcliffe, vice president of Urban’s Housing Finance Policy Center. “The data suggests that Black households are disproportionately harmed by current underwriting models, but they could reap disproportionate benefits from including other data in mortgage underwriting, if these innovations are done right.”

A significant hurdle faced by potential black home buyers is credit score. But about 53 million people cannot be reliably scored on the most common scoring model used in mortgage underwriting, Classic FICO. Black households are disproportionately likely to lack traditional credit data to derive a FICO score and are more likely to have FICO scores below 620, which is the typical threshold for mortgage approval.

The report claims that a heavy reliance on credit score and automated credit history data that underpins the system “discriminates against people of color through process, not just assessment. The automated process strongly favors applicants with strong, easily documentable credit records, while those whose credit history could be confirmed with more effort and documentation are generally excluded.”

Mortgage underwriting could be safely extended by including information that was once used to assess applications – such as rent and utility payments and cash flow data – but not typically captured in models current automation. This information could be fed into automated scoring models, or it could be assessed as a separate step from underwriting. In their analysis of 2020 mortgage data, the report’s authors determined that 18.6% of Black applicants and 18.1% of Hispanic applicants who were denied a first mortgage could be approved if 12 months of mortgage payments time rent were included in the underwriting process.

As this approach gains momentum, further study is needed to ensure data is collected securely, standardized across systems, and strong consumer protections are in place.

The most influential factors determining access to mortgages reflect a long history of racial discrimination by American public and private institutions. Continuing to rely on current lending criteria reinforces and perpetuates the disparities created by discrimination.

“Structural racism has prevented people of color, and black people in particular, from having equal access to educational opportunities, well-paying jobs and intergenerational wealth,” the report notes. Incorporating alternative data into underwriting is an important step – one of many needed – in efforts to achieve racial equity and increase Black home ownership.

The report is the first in a series of four developed through a two-year, $1.5 million collaboration between Urban Institute and FHLBank San Francisco. Each examines advances in mortgage finance that can facilitate and support more equitable homeownership. Future research will focus on using new technologies to overcome historical biases, student loan debt, and new product structures that can better support homeowners experiencing temporary financial difficulties.

About Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative that helps local lenders in Arizona, California and Nevada build strong communities, create opportunity and change lives for the better. The tools and resources we provide to our member financial institutions (commercial banks, credit unions, industrial loan companies, savings banks, insurance companies and community development financial institutions) promote home ownership, expand access to quality housing, start or support small businesses, and revitalize entire neighborhoods. Together with our members and other partners, we make the communities we serve more vibrant and resilient.

About the Urban Institute

The nonprofit Urban Institute is a leading research organization dedicated to developing evidence-based ideas that improve people’s lives and strengthen communities. For 50 years, Urban has been the trusted source for rigorous analysis of complex social and economic issues; strategic advice to policy makers, philanthropists and practitioners; and promising new ideas that expand opportunities for all. Our work inspires effective decisions that advance equity and improve the well-being of people and places.


Best car rental apps to get away from the city halfway through October


There’s plenty to see and do within a few hours’ drive of London and mid-October is the perfect time for the whole family to get away from the city. Taking children on trains and buses is stressful at the best of times and the various ongoing strikes mean that finding more reliable transport might be the best way forward.

Fortunately, various apps make it easy to rent a car for as little or as long as you want, allowing you and your family to enjoy your time out of London.

From monthly subscription models to eco-friendly electric cars, here’s a look at some of the best car rental apps available in London.

That of the automobile club: Zipcar

Zipcars are available for hire across London

/ Zipcar

Zipcar operates an automobile club model. You register on the website and can pay a small membership fee for cheaper rentals, but you don’t have to. Then you are free to pick up a car in your area and return it when you no longer need it. Since the lockdown was eased, the business has seen a 50% increase in its weekend round-trip product as people escape the city for breaks.

Cleaning and security are essential for the car rental company. Zipcar has enhanced cleaning protocols in place and teams perform spot checks on every vehicle in circulation at regular intervals throughout the week. He also encourages members to bring sanitizing wipes and use antibacterial hand gel before and after each trip.

Zipcar vehicles are available for hire from £3/hour

Contactless: Virtuo

Virtuo rents Mercedes A-Class and GLA cars in London / Virtuo

Virtuo has become a popular choice for weekend getaways from London thanks to its contactless and transparent process.

Simply reserve a car in the app and collect it from a transport hub, using your smartphone to unlock and lock the car as well as turn it on.

The app will soon add a service where it will drop cars off at your doorstep and has also expanded its cleaning process, using government-recommended products to clean vehicles between rentals. “For us, the contactless nature of our rental and the fact that we have always cleaned our cars after each rental puts us in a strong position. We have also always offered free cancellations and changes to ensure customers can travel with peace of mind,” says Adam Bodini of Virtuo.

Virtuo cars are available to hire from £50/day

Electric: E-Car Club

E-Car Club offers electric and hybrid vehicles

/ Electric car club

If you don’t want to give up the environmental benefits of not driving for months, then E-Car Club might be the platform for you. The service offers fully electric and hybrid vehicles so you can reduce your carbon footprint while travelling.

Everything is done through the app, including unlocking the car, so it’s a contactless process and the app will tell you where to find the nearest charging point so you never run out of juice.

Want an alternative electric car service? UFODrive is a new app for Londoners that allows them to hire a Tesla Model 3 or Model S from £89 per day.

Electric car club vehicles are available from £35/day

P2P: Hiyacar and Getaround

You can share your car with your neighbors using Hiyacar and Getaround

/ Hiyacar

If you’re looking for a slightly cheaper way to get around this summer, you might want to check to see if your neighbor or someone nearby offers their spare car for hire. Platforms like Hiyacar and Getaround allow people to rent their car to earn extra income and demonstrate that not everyone has to own their own vehicle.

During the lockdown, Getaround saw demand drop around 80% while Hiyacar covered the costs for NHS staff to borrow free rental cars on the platform if they needed them to get to work or to do his shopping. Now, both platforms are seeing increased demand.

Both platforms have strict measures for vehicle cleaning between uses. Owners can report if a car has been potentially contaminated and Getaround will quarantine it for three days so no one else can rent it.

As a result, Getaround says people are renting cars well compared to pre-lockdown levels, with weekends particularly strong, while Hiyacar says sharing is up almost 100% from 2020.

Move vehicles are available for hire from £21/day depending on the car. Hiyacar vehicles are available to hire from £28/day depending on the car.

Snoopy sister watches my finances


By Annie Lane

Dear Anne: I’ve never sent anything to a column before, but I’d like to say something from a grandchild’s perspective on “Brokenhearted Grandma.”

I don’t say hello to my grandmother unless I have to because we’re usually in the same room. I won’t go out of my way to talk to him. I actively avoid any situation where this would be a necessity. “Brokenhearted Grandma” sounded like mine.

But the other side of the story is that she’s a horrible person. She sent us “lavish” gifts, but she was never there. She made no effort to be in our lives growing up, and she denounces my sister and I as “the failed kids”, despite having lucrative careers and a solid foundation in life.

She’s narcissistic, complicit, and pouts when she doesn’t get what she wants. She tries to play the victim – like your writer – all the time. She and my grandfather were emotionally abusive and dismissive of all of their children, and it wasn’t until this year that my mother finally realized that none of us could stand her mother and that our grandmother acted like a spoiled 16 years old.

There are so many examples I could cite, but for the sake of discussion, just remember that there are two sides to every story and not all grandkids like this are lazy. Sometimes they want nothing to do with a parent, and because we are adults, we can make the decision to eliminate toxic people from our lives. And it’s not like she’s unaware of it, but she plays the victim card very well. – The other side of the room

Dear Other Room Sign: Every family situation is different, and if your grandmother is all you say, I don’t blame you for wanting to ignore her. It’s always important to hear the other person’s point of view.

Dear Anne: One of my sisters has been monitoring my online bank account for a while now. I don’t monitor her or our brother’s account, so I have no idea why she’s doing this. For me, this is a major violation of my privacy, and therefore I feel disrespected.

To stop him from doing this, I recently went to my bank and asked them to close the existing account and open a new one.

I hope this will put an end to the 100% wrongful treatment of my sister.

What do you think of this situation, Annie? — Dealing with a Snoopy Sister

Dear Sister Snoopy: Your bank account is none of her business, and spying on her is a huge violation of your privacy. I don’t understand how your sister even got access to YOUR bank account in the first place. Either way, you handled the situation well by opening a new account.

But what’s going on with your sister? If you haven’t asked her, I suggest you have a serious conversation with her.

“How can I forgive my cheating partner?” is out now! Annie Lane’s second anthology – featuring her favorite columns on marriage, infidelity, communication and reconciliation – is available in paperback and e-book form. Visit http://www.creatorspublishing.com for more information. Send your questions for Annie Lane to [email protected].


Local News in Davis is proudly sponsored by

Regional council wants commercial rates for Airbnb accommodations


Councils in the area have yet to decide whether they will back a scheme that would impose higher rates on homeowners who list their homes on short-stay accommodation sites.

The proposal is contained in a motion from the Town of Greater Bendigo tabled ahead of the Municipal Association of Victoria (MAV) State Council meeting today (Friday October 14).

If successful, the motion would see the state’s peak council lobby ask the state government to implement the changes.

“MAV is calling on the state government to allow properties listed on accommodation sites like Airbnb to be classified as commercial properties rather than residential properties and to help councils easily identify them,” the motion reads. advice.

In its supporting rationale, the council argued that the trend towards short-term rentals, facilitated by well-known accommodation sites, has taken houses out of the long-term rental market.

“By allowing properties listed on accommodation sites to be rated at a new differential rate, landlords will be encouraged to consider offering long-term rental options to help address rental shortages.”
The City of Greater Geelong’s acting director of customer and business services, Bryce Prosser, said that although the city has not yet taken a position on the proposal, it was an issue that local governments were concerned about. grappling.

“Some councils have struggled to regulate the rapidly growing sharing economy because it can be complex and resource-intensive to identify homes that are being operated as accommodation for visitors,” he said.

Under Geelong’s existing pricing system, Mr Prosser said, the city uses differential pricing based on land use for residential, mixed-use and commercial properties.

In 2017, the Borough of Queenscliffe introduced a tourist accommodation rate set at 110% of the residential property rate for properties of five bedrooms or less where its aim is to generate income from holiday accommodation.

“Tourism being the largest industry in the borough, the council considers that a tourist accommodation tariff is necessary to provide the additional services to this sector,” said a spokesperson for the borough.

“The application of this differential rate ensures fairness among ratepayers, as these properties are used differently than other general residential properties.”

Surf Coast Shire’s executive director of strategic partnerships, Damian Waight, said his board “has yet to gather advice from the officers” on the Town of Greater Bendigo’s motion, but the county is not currently enforcing a different category for short-term rental accommodation.

Musk has a “super app” plan for Twitter. it’s super vague


Elon Musk has a fondness for the letter “X”. He names his son with singer Grimes, whose real name is a collection of letters and symbols, “X”. He named the company he created to buy Twitter “X Holdings”. His rocket company is, naturally, SpaceX.

Now he also apparently intends to turn Twitter into an “everything app” which he calls X.

For months, the CEO of Tesla and SpaceX has expressed interest in creating his own version of WeChat in China – a “super app” that does video chats, messaging, streaming and payments – for the rest of the world . At least, that is once he finishes buying Twitter after months of legal wrangling over the $44 billion purchase deal he signed in April.

There are only a few obstacles. First, a Musk-owned Twitter would not be the only global company pursuing this goal and, in fact, would likely catch up with its rivals. Then comes the question of whether anyone really wants an all-Twitter-based app — or any other great app — to begin with.

Start with competition and consumer demand. Facebook parent Meta has spent years trying to make its flagship platform a destination for everything online, adding payments, games, shopping and even dating features to its social network. So far he has had little success; almost all of its revenue still comes from advertising.

Google, Snap, TikTok, Uber and others have also attempted to jump on the super app bandwagon, expanding their offerings with the aim of becoming indispensable to people throughout their day. None have set the world on fire so far, not least because people already have a number of apps at their disposal to manage purchases, communication and payments.

“Old habits are hard to break, and people in the United States are used to using different apps for different activities,” said Jasmine Enberg, senior analyst at Insider Intelligence. Enberg also notes that super apps would likely suck up more personal data at once. when trust in social platforms deteriorated significantly.

Musk launched the latest round of speculation on Oct. 4, the day he called off his attempts to pull out of the deal and announced he ultimately wanted to acquire Twitter. “Buying Twitter is an accelerator to create X, the app for everything,” he tweeted without further explanation.

But he’s provided at least a little more detail in the past. At Tesla’s annual shareholder meeting in August, Musk told a crowd at a factory near Austin, Texas, that he thought he had “a good idea of ​​where to lead the team. ‘engineered with Twitter to radically improve it’.

And he hinted that managing payments for goods and services would be a key part of the app. Musk said he had a “bigger picture” of what X.com, an online bank he started early in his career and which eventually became part of PayPal, could have been.

“Obviously it could be started over, but I think Twitter would help speed that up by three to five years,” Musk said in August. “So it’s kind of something that I thought was very useful for a long time. I know what to do.”

But it’s not clear that WeChat’s success in China means the same idea would translate to a US or global audience. The use of WeChat is almost universal in China, where most people have never had a computer at home and have gone straight to the internet via mobile phone.

Operated by tech giant Tencent Holding Ltd., the platform has transformed into a one-stop-shop for payments and other services and is beginning to compete in the entertainment arena. It is also a platform for health code apps that the public are required to use to prevent the spread of the coronavirus.

China has 1 billion internet users, and nearly all go online by mobile phone, according to the government-sanctioned China Internet Network Information Center. Only 33% use desktop computers, and most of the time also mobile phones. Tencent claims that WeChat had 1.3 billion users worldwide at the end of June.

Tencent and its main Chinese competitor, e-commerce giant Alibaba Group, aim to create apps that offer so many services that users cannot easily switch to another app. They are not the only ones.

WeChat added video calling and other messaging features along with shopping, entertainment and other features. Government agencies use it to send health, traffic, and other announcements. WeChat’s payment feature, meanwhile, is so widely used that cafes, museums and some other businesses refuse cash and will only accept payment via WeChat or rival app Ant.

There is no comparable app in the United States, despite the efforts of tech companies.

It’s worth remembering that Musk’s grand visions don’t always work out as he seems to expect. Humans are a long way from colonizing Mars, and its promised fleet of robotaxis remains about as far from reality as the Metaverse.

Twitter’s user base is also tiny compared to its competitors on social platforms. While Facebook, Instagram and TikTok all passed the 1 billion mark a long time ago, Twitter has around 240 million daily users.

“Musk should not only overcome the hurdle of convincing consumers to change their behavior online, but also that Twitter is the place to do it,” Enberg said.


Associated Press writer Joe McDonald contributed to this story.

How Much Cargo Can You Carry in a 2023 Chevrolet C8 Corvette?


The 2023 Chevrolet Corvette C8 is one of the fastest and most accessible sports cars on the market today. It has a starting price of around $63,000, a 495 horsepower V8 engine and handles like a dream. That being said, the latest iteration of the Corvette is the car to get if you want to feel like a race car driver, even when just driving at Costco.

But what if you buy a bunch of stuff at Costco? Will it be able to fit in the Corvette? Maybe. After all, the C8′ Vette has a trunk and a front trunk (frunk). I got to put the Corvette through its paces to see how much and what kind of stuff would fit in it. Here is what I found.

2023 Chevrolet Corvette Stingray | Joe Santos, MotorBiscuit

The trunk of the 2023 Chevrolet Corvette has a strange shape

According Chevy, the 2023 Corvette has 12.6 cubic feet of trunk space. For a sports car, this is a considerable amount. However, it should be remembered that its rear trunk is large enough to accommodate the car’s removable roof. That’s right, another trick up the Corvette’s sleeve is its Targa roof, which is fun in the sun.

But when the roof isn’t stowed in the trunk, it looks like there’s plenty of room for other things. However, I soon discovered that installing a small blue bin – like you might use it for the move – is not at all suitable. I then added some small, long items like a tool kit, box, and computer printer. They all fit, but it was clear that the trunk space was mostly for the roof of the car and a set of golf clubs or other long, skinny items.

As for a Costco run, I’m sure you can fit smaller items like groceries in this space. Forget the toilet paper, unless you’re ok with taking it apart and putting each pack of rolls in separately.

The Corvette’s frunk is ideal for groceries and small things

2023 Chevrolet Corvette Stingray Front Trunk
2023 Chevrolet Corvette Stingray | Joe Santos, MotorBiscuit

The Corvette’s front trunk, or frunk, is a small, deep space that’s surprisingly useful. I’ve used it for a small number of runs, which fit snugly on the bottom of the boot. However, I’m sure you can easily stack bags on top of bags to use up all the space. None of the larger items I had put in that part of the car. For these items, the passenger seat would be better.

When all else fails, use the passenger seat

2023 Chevrolet Corvette Stingray
2023 Chevrolet Corvette Stingray | Joe Santos, MotorBiscuit

If you cannot fit larger items in one of the two trunks, use the space in the passenger seat. If a passenger is sitting in this space, just ask them to keep everything for you. They may never want to ride in your awesome C8 Corvette again, but the trip will be worth it.

If that fails, you might want to rethink using a Chevy Corvette for a Costco run. Instead, you can either rent a car or buy something more practical. But who would want to do that when you can buy a Corvette? After all, it’s a fast, accessible sports car that’s somewhat practical – provided you don’t have a pile of toilet paper to haul around.

RELATED: 4 Great Chevy Corvette Alternatives For Under $40,000

Chelmsford Alumni Hall of Fame welcomes class of 2022


CHELMSFORD, MA — The Chelmsford High School Alumni Association Hall of Fame will welcome nine new members at an induction ceremony this weekend, the school announced.

The event will take place at 5:45 p.m. Saturday at the UMass Lowell Inn and Conference Center, located at 50 Warren St. Tickets for the event are $60 and can be purchased by contacting George Simonian at 978-256-3100 or Terry McSheehy at 978 -251-3788.

According his website, the Hall of Fame honors graduates and staff who have made significant contributions to the CHS and/or their communities in a wide range of areas. Inductees may be outstanding scholars, leaders, and/or athletes. They may have achieved great success in their chosen careers and/or made notable contributions to their communities. They may also be administrators, teachers or coaches who have gone above and beyond in their dedication to the CHS and its students.

The 2022 Hall of Fame class includes:

  • Rachel (Fairbanks) Adaran (2010), Actress/Clothing Entrepreneur: A member of the CHS Theater Guild while at CHS, Adaran has performed in numerous productions and with various theater companies. She launched a clothing line called Spark & ​​Edge in 2021.
  • Kenneth Chutchian (1975), Journalist/Author/Educator: Served as editor of The Paper Lion, the CHS newspaper, and became an award-winning journalist covering national and local politics. He then became a history teacher in Maine and published a book “John Reed: Radical Journalist 1887-1920” in 2019.
  • Marc Dearborn (1986, posthumously), athlete/philanthropist: An outstanding hockey player at the CHS, he created the Arpin Benevolent Fund in 2013 to provide financial assistance to victims of natural disasters and tragedies. He was also very active in the annual Run to Home Base, a Boston Red Sox-based fundraiser for clinical care for veterans and their families. Dearborn died in 2019.
  • Thomas Gill (1971), artist/philanthropist: A musician and artist at CHS, Gill’s work can now be seen in venues such as Enterprise Bank, Elizabeth Hospital, Holy Family Hospital and Lowell Community Health Center. He has also exhibited works at the Whistler House Museum of Art, the Brush Gallery and Western Avenue Studios in Lowell.
  • Daniel Hart (1999), Athlete/Youth Sports Advocate and Volunteer: Currently athletic director at CHS, Hart was a two-time all-conference basketball player, leading the Lions to MVC titles in 1998 and 1999. Prior to becoming an athletic director, Hart served as a student supervisor at CHS and McCarthy Middle School and he was the men’s basketball head coach at Lowell Catholic High School from 2011 to 2015. He also founded the Lion League Educational Basketball in 2006, which he owned and operated until 2017.
  • Michael McLarney (1973), Tri-Sport Athlete/New England Champion Wrestler: He was a tri-sport athlete at CHS and a standout wrestler at Massachusetts Maritime Academy. He served as a United States Navy officer and merchant marine engineer, was a head wrestling coach at Bridgewater State, and was an assistant wrestling coach at Worcester Polytechnic Institute and UMass Lowell.
  • Timothy McMaster (1994), Athlete/Broadcaster: A basketball star at CHS, McMaster became a sportscaster for ESPN, calling college baseball, basketball, and softball. He is also a founding member of The Athletic, a popular sports journalism website.
  • Deena (Patsourakos) Ronayne (2001), actor/producer/entrepreneur: Active with the CHS Theater Guild as a student, Ronayne founded Hardly Working Promotions, which specializes in public relations and marketing for theater productions.
  • John Sousa (1984), contributions/service: He was a volunteer student assistant in the CHS library as a student. Today Souza is the Chief Financial Officer and Treasurer of the City of Chelmsford. It has helped the city maintain its AA+ sterling bond rating.

Emerging cyber risks in the US and UK | Mitratech Holdings, Inc.


[Author: Javier Gutierrez]

Cyber ​​risk management has grown significantly in importance over the past two years, as companies overcame the operational challenges of the pandemic, transitioned to hybrid working, prepared for the possible fallout from significant geopolitical events and emerging cyber risks.

Governments have invested heavily in creating organizations that monitor threats and provide practical advice to businesses and organizations, to help them prepare for cyber attacks, develop strong cyber risk management programs and ensure resilience. .

Organizations such as the US Cybersecurity and Infrastructure Security Agency (CISA) and the UK’s National Cyber ​​Security Center (NCSC) regularly issue advisories on the general state of business preparedness for cyberattacks. in the United States and the United Kingdom. Their goal is not to be alarmist but rather to educate business leaders and teams about the emerging cyber risks they face and the practical steps they can put in place to mitigate them. Typically, these tips echo advice offered by information security teams within organizations and help validate many of the business cases for investing more in cybersecurity projects and cyber risk management initiatives.

CISA recently reviewed its FY2021 risk and vulnerability assessments, which covered risk and vulnerability assessments (RVAs) for 112 U.S. federal government and private sector organizations. This RVA review has highlighted some of the patterns malicious actors use to attack and exploit networks, including initial entry, attack execution, persistence, privilege escalation, and exfiltration. It also highlights the business impact and provides practical steps for each aspect that businesses can take to resolve the issues.

In the FY2021 review, critical risks reported by CISA included phishing attacks and widespread use of default security credentials. The analysis highlighted the need for regular training on phishing attacks and the use of strong passwords, which are regularly changed. The report also highlighted the need to regularly review intrusion techniques so that when incidents occur using new techniques, organizations can respond quickly. Other issues highlighted the need to change default passwords, regularly update and patch software, and find and repair open ports.

These sentiments were echoed in a recent report by Britain’s NCSC, highlighting the particular risks associated with enterprise connected devices (ECDs). ECD devices include laptops, smartphones and enterprise Internet of Things (IoT) devices which are physical devices – think refrigerators, smoke detectors, cameras and occupancy sensors, for example – that contain network connectivity capabilities that allow them to be controlled remotely. ECDs are popular because they provide management flexibility and efficiencies in many work environments.

However, while popular, ECDs can pose a significant security risk, given the lack of understanding among most employees of the security risks involved and the lack of visibility of these devices in an office park. The NCSC report highlighted many of the threats that ECDs offer. Hackers use them as a starting point to access other, more secure systems. The lack of visibility of IoT devices and the use of default security settings means they are suitable for lateral attacks to other systems that can lead to data theft or ransomware attacks, for example. The use of these devices in a company’s supply chain also poses a threat, where even if a company has strict ECD policies and monitors itself, its suppliers may not.

This situation highlights the problem companies face as to how best to respond to cyber risks, impacting both the organization and third parties, when resources and costs remain constrained.

New technological capabilities are encouraging security teams to rethink how best to meet this type of challenge. They can now offer another way to manage cyber risk by placing the implementation and monitoring of a company’s security policy in the hands of end users and their managers, rather than just a security team. reduced and overwhelmed.

A SaaS-based approach means security teams can provide an easy-to-browse library of security policy documents with powerful search and question-and-answer capabilities that allow employees to understand their obligations at a pace that suits them. as well as their projects. Training and testing capabilities help improve employee skills and awareness of new and emerging security threats. Attestation capabilities allow them to document and provide evidence of compliance with security standards. AI capabilities allow information security teams to know where standards are not being met, as specific business needs change.

This approach allows information security teams to better guide the organization and third parties on their cybersecurity policy at a pace they can all manage. It also means that the information security team can continue to be the final arbiter of the cyber risk management program.

[View source.]

The rental laundry services market is booming globally: County Linen, Laundris, Laundryheap


This press release was originally distributed by SBWire

New Jersey, USA – (SBWIRE) – 10/12/2022 – The latest published Rental Laundry Services Market Research assesses the future growth potential of the Rental Laundry Services market and provides insights and useful statistics on the structure and size of the market. The report aims to provide market insights and strategic insights to help decision makers make sound investment decisions and identify potential gaps and growth opportunities. Furthermore, the report also identifies and analyzes the changing dynamics, emerging trends alongside essential drivers, challenges, opportunities and restraints in the Rental Laundry Services market. The study includes analysis of market shares and profiles of players such as The Folde (US), Laundris (US), Lindstroem (Finland), Washbnb (US), LaundryLounge (US ), Union Lido (Italy), Laundryheap (UK), County Linen (UK), SWS GROUP (Australia), OCL Laundry (USA), Magic Laundry Services (USA).

Download Sample PDF Report (including full TOC, Table and Figures) @ https://www.advancemarketanalytics.com/sample-report/192664-global-rental-laundry-service-market#utm_source= SBWireLal

Market factors:
Rising urbanization has reduced the leisure time of individuals which in turn is driving the growth of the market
Growth in the hotel sector

Market trends:
Increase in demand from emerging economies
Increased number of laundry shops

Hiring laundry services is simple and convenient. Experts complete this service in a timely manner. Professionals ensure that the clothes are not damaged during washing and cleaning. There has been a significant shift in the laundry industry in recent years from washing clothes to using coin-operated laundry services. Consumers value convenience due to their busy lifestyles, and they are increasingly turning to dry cleaning and laundry services to make their lives easier. Rental laundry services are gaining popularity as a reliable and convenient service at a reasonable price as busy consumers are willing to pay for their laundry these days.

Market opportunities:
Growing public awareness of hygienic and efficient cleaning systems
High speed washing and cost effectiveness are the factors driving the market

Global rental laundry services market segments and market data breakdown are illustrated below:
by type (blankets, pillowcases, bath towels, tablecloths, uniforms, clothing, other), application (hotels, restaurants, apartments, hospital, other), services (dry cleaning, pickup and delivery, duvet cleaning, massage linen service, fluff and fold)

The Global Rental Laundry Services Market report highlights insights regarding current and future industry trends, growth patterns, as well as offers business strategies to help stakeholders to make decisions that can help ensure the trajectory of earnings over the forecast years.

You have a question ? Market Ask Before Buy @ https://www.advancemarketanalytics.com/enquiry-before-buy/192664-global-rental-laundry-service-market#utm_source=SBWireLal

Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, United Arab Emirates, Israel, Egypt, etc.)
North America (United States, Mexico and Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia).

Report objectives
To carefully analyze and forecast the Laundry Rental Services market size by value and volume.
– Estimate the market shares of the main segments of the laundry rental service
To present the Laundry Rental Services market development in different parts of the world.
To analyze and study the micro markets in terms of their contributions to the Rental Laundry Service market, their prospects, and individual growth trends.
-To offer accurate and helpful details about factors affecting the growth of the Laundry Rental Service
-To provide a meticulous assessment of crucial business strategies employed by leading companies operating in the Laundry Rental Service market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments and product launches.

Buy Now Comprehensive Rental Laundry Services Market Assessment @ https://www.advancemarketanalytics.com/buy-now?format=1&report=192664#utm_source=SBWireLal

Main highlights of the table of contents:

Rental Laundry Services Market Research Coverage:
It includes major manufacturers, emerging player’s growth story and major business segments of Rental Laundry Services market, years considered and research objectives. Further, segmentation based on product type, application, and technology.
Executive Summary of Rental Laundry Services Market: It provides a summary of global studies, growth rate, available market, competitive landscape, market drivers, trends and issues, and macroscopic indicators.
Rental Laundry Services Market Production by Region Rental Laundry Services Market profile of Manufacturers-players is studied based on SWOT, their products, production, value, financials, and data. other vital factors.
Key Points Covered in the Rental Laundry Service Market Report:
Overview, Definition and Classification of Rental Laundry Services Market Drivers and Barriers
Rental Laundry Services Market Competition by Manufacturers
COVID-19 Impact Analysis on Rental Laundry Services Market
Rental Laundry Service Capacity, Production, Revenue (Value) by Region (2021-2027)
Rental Laundry Service Supply (Production), Consumption, Export, Import by Region (2021-2027)
Rental Laundry Services Production, Revenue (Value), Price Trend by Type {Blankets, Pillowcases, Bath Towels, Tablecloths, Uniforms, Garments, Others,}
Rental Laundry Services Market Analysis by Application {Hotels, Restaurants, Apartments, Hospitals, Others}
Rental Laundry Services Manufacturers Profiles/Analysis Rental Laundry Services Manufacturing Cost Analysis, Supply Chain/Industry Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by major manufacturers/players, standardization of connected distributors/traders, regulatory and collaborative initiatives, industry roadmap and analysis of value chain market effect factors.

Browse Full Summary & TOC @ https://www.advancemarketanalytics.com/reports/192664-global-rental-laundry-service-market#utm_source=SBWireLal

Answers to key questions
How feasible is the rental laundry services market for long-term investment?
What are the factors influencing the demand for rental laundry service in the near future?
What is the impact analysis of various factors on the growth of the Global Rental Laundry Services Market?
What are the recent regional market trends and how successful are they?

Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

For more information on this press release, visit: http://www.sbwire.com/press-releases/rental-laundry-service-market-is-booming-worldwide-county-linen-laundris-laundryheap-1364169 .htm

Anchorage man pleads guilty and is ordered to pay a $4,000 fine for violating the Marine Mammal Protection Act | USAO-AK


ANCHORAGE — An Anchorage man pleaded guilty to two counts of illegally trafficking walrus ivory in U.S. District Court and was fined $4,000 and sentenced to two years of probation.

Uzi Levi, 71, of Anchorage purchased six non-homemade Pacific walrus tusks and a three-tusk non-homemade Pacific walrus head mount from an undercover U.S. Fish and Wildlife Service special agent, all while violation of the Marine Mammal Protection Act. .

Under the Marine Mammal Protection Act, it is illegal for a non-native of Alaska to transport, buy, sell, export, or offer to buy, sell, or export any marine mammal or marine mammal product for purposes other than public display, scientific research or to enhance the survival of a species or stock or any part of a marine mammal that has not been transformed into an authentic item of indigenous craftsmanship.

In June 2020, a U.S. Fish and Wildlife Service special agent observed what appeared to be an Alaska Native man wearing a non-homemade two-tusk walrus head mount in the rental car office owned by Levi, then left without her. A few weeks later, an undercover U.S. Fish and Wildlife Service special agent visited Levi’s rental car business and inquired about renting a vehicle. He explained that he didn’t have a lot of money and asked if there were other ways to rent a vehicle, such as trading or bartering. The unidentified company person called Levi and handed the phone to the undercover officer. During that call and over the next eight months, Levi and the agent exchanged numerous phone calls and text messages about the purchase of non-craft or raw walrus ivory, which resulted in Levi purchasing six non-homemade Pacific walrus tusks on July 13. 2020, and a non-crafted three-tusk walrus head mount on September 29, 2020

Levi pleaded guilty to both counts and was sentenced before United States District Court Chief Judge Sharon L. Gleason. In passing sentence on Levi’s raw ivory trade, Judge Gleason said, “The defendant’s actions have a real impact on Alaska Native artists trying to market their wares.”

U.S. Attorney S. Lane Tucker for the District of Alaska made the announcement. The US Fish and Wildlife Service investigated the case. Assistant United States Attorney Steve Skrocki prosecuted the case.


Israeli army kills teenager in West Bank clashes


JERUSALEM (AP) — Israeli troops shot and killed a Palestinian teenager on Wednesday during clashes that erupted in a refugee camp in the West Bank, the Palestinian Health Ministry said, the latest deadly incident as violence escalates in the territory. busy.

The ministry identified the Palestinian as 18-year-old Osama Adawi. He was among more than 100 Palestinians killed in the West Bank so far in 2022, the worst spasm of violence in seven years.

The Palestinian Health Ministry said Adawi was hit in the abdomen by a bullet in Al-Aroub refugee camp in the southern West Bank. The Israeli military said troops opened fire on a group of Palestinians who were throwing stones at Israeli motorists on Route 60, the territory’s main north-south thoroughfare.

Tensions have risen across the West Bank and East Jerusalem as Israeli forces continue to search for Palestinian gunmen who recently carried out two shootings against soldiers. Thousands of Jewish worshipers are also flocking to Jerusalem to mark the week-long Sukkot holiday, putting the city on edge.

As night fell on Wednesday, clashes erupted in the Shuafat refugee camp in East Jerusalem, as Palestinians violently protested the heavy Israeli police presence.

Nabil Abu Rudeineh, spokesman for the Palestinian Authority, said President Mahmoud Abbas was pursuing “intensive contacts” to defuse the situation and warned that Israeli provocations would “bring the region to the brink of an explosion”.

In East Jerusalem, Palestinian shops and businesses have closed in protest at Israeli police raids in the area that have sparked violent clashes between police and Palestinian protesters.

Police combed Shuafat, a Palestinian refugee camp on the outskirts of Jerusalem, for a suspect in a deadly shooting at a checkpoint on Saturday that killed a soldier. For days, officers set up checkpoints and deployed groups of armed officers to interrogate residents. The checkpoints obstructed the entry and exit points of the area, disrupting the daily life of the inhabitants.

The general strike was called to protest against the repression. Schools and shops have closed across East Jerusalem, including in the Old City, whose colorful shops catering to tourists and locals are generally buzzing.

“Showing solidarity with Shuafat means more than a daily income,” said Anan Sabah, a butcher in the Old City. “The camp has been closed and cordoned off for days. We are closed to say that it is a collective punishment.

Tensions are fueled by months-long night raids by the Israeli military in the occupied West Bank, which began after a spate of attacks on Israelis earlier this year. More than 100 Palestinians have been killed in the violence, making this the deadliest year since 2015. Most of those killed were activists, Israel said, but some local youths protesting the raids as well as civilians were also killed in violence.

The raids have sparked a series of shootings in recent weeks against Israelis in the West Bank, including one near the Palestinian city of Nablus on Tuesday that killed an Israeli soldier.

The Israeli army said it had closed some roads leading in and out of the city and set up roadblocks in its search for the gunmen. Despite the tensions, he said he would still allow and escort Jewish worshipers to visit a Jewish shrine in Nablus that has been a hotbed of violence.

Israel captured the West Bank, along with East Jerusalem and the Gaza Strip, in the 1967 Middle East War. Palestinians seek these territories for a future independent state.


Associated Press writer Isabel DeBre in Jerusalem contributed to this report.

Bicycle and Scooter Rental Market Size and Forecast 2022-2030


Bike and scooter rental market

The global Bicycle and Scooter Rental Market was estimated at 2.9 (USD Billion) in 2019 and is projected to be valued at 9.5 (USD Billion) by 2025 at a CAGR of 17.3%. The report offers assessment and analysis of the Surface Protection Tapes Market on a global as well as regional level. The study offers an in-depth assessment of market competition, inhibitions, sales forecasts, emerging trends, and industry-validated insights. The report provides historical data from 2016 to 2018 as well as forecast from 2021 to 2028 based on revenue (USD billion).

The request for access to the full report is available @ https://www.zionmarketresearch.com/report/bike-scooter-rental-market

Key market players covered in this report are: Jump, Lime, ofo, Bird, nextbike, Grow Mobility, COUP, and Cityscoot, among others.

The recently published report on the Global Bicycle and Scooter Rental Market provides an in-depth review of the major players in the global market. These major market players are categorized based on their industries, revenue, mergers and acquisitions, product portfolio, R&D expenditure, and geographic presence. Concise details about these market players in terms of head office, revenue, regional presence, major competitors and recent developments are also specified in the report.

On the basis of product type, the Bicycle and Scooter Rental Market report considers the following segments:

On subscription and pay as you go

On the basis of application, the Bicycle and Scooter Rental Market report considers the following segments:

Station based and dockless

FREE: sample request is available @ https://www.zionmarketresearch.com/sample/bike-scooter-rental-market

Market Drivers, Restraints, and Opportunities

Zion Market Research’s recent report focuses on the major driving variables that are primarily responsible for the rapid rise of the global bicycle and scooter rental market. Furthermore, the driving variables of the report include an in-depth examination of current market trends, local government policies, new product launches, legislation, geographical compliance, existence of market players, and the supply chain status. The major drivers of the report will help decision makers and investors to streamline their business in line with market trends and demand.

The research study includes a detailed review of the market constraints, which includes a number of factors drawn from the existing government legislation, import-export policy, currency devaluation, prohibitions of market players , the percentage of discretionary income and the reason for the low product demand. These features will provide investors, significant market participants and others with useful market information, allowing them to better understand the fast/slow market growth. Clients will be able to understand the severity of the market restraining factor during the forecast period through the impact analysis provided with major restraining factors.

The latest report from Zion Market Research identifies a key opportunity for market expansion over the forecast period. In this report, market opportunities are plotted with the help of detailed study of the current Bike and Scooter Rental market scenario, mergers and acquisitions, research and development investments, technological developments, new marketing strategies and buyer behavior. Key opportunities covered in the report will provide insight into the global Bicycle and Scooter Rental market and its future growth.


The major market segments and their sub-segments covered in this study provide insights into the overall business climate. The categories in this research are constructed by analyzing the supply and demand scenario which provides an in-depth view of the market. The segment study provides a detailed view of the fastest growing market sector as well as factors influencing the fast/slow growth of other segments. This section includes comprehensive market share and revenue analysis.


Zion Market Research latest market report is split into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The report includes detailed financial data for each region based on its segments. In addition, detailed revenue and market share analysis is provided for major countries in each region.

Impact of COVID-19 on the global market:

This COVID-19 impact analysis covered in the report provides a comprehensive study about changes in company policy, market expansion rate, new collaboration among market players, major restraining factors and the future growth of the market during the pandemic period. As COVID-19 remains in place for an extended period, it is essential to understand its impact on overall growth over the forecast period.

Report methodology

Market revenue, future forecast, and statistics for a new report published by Zion Market Research is built by gathering in-depth information for the global Bicycle and Scooter Rental market. The details provided in the report are compiled through extensive secondary research that includes an in-depth study of investor presentations, company annual reports, white papers, government programs, and related organization reports. Detailed secondary research is supported by comprehensive primary research.

Press release for the bike and scooter rental market @ https://www.zionmarketresearch.com/news/bike-scooter-rental-market

Key features of the Bike and Scooter Rental report include:

Competitive players and market shares
Market structure: overview
Growth drivers and constraints
Analysis of the five carriers
SWOT analysis
Market trends and forecasts
Market segments and forecasts
Emerging trends
Opportunities for growth.
In addition, the research report examines:

Competitive companies and manufacturers in the global market
By product type, applications and growth factors
Industry status and outlook for major applications/end-users/usage area

Thank you for reading this article ; you can also get individual chapter wise sections or region wise report versions like North America, Europe or Asia.

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California castle with Game Of Thrones throne, Harry Potter bar for rent

California castle with Game Of Thrones throne, Harry Potter bar for rent

A one-of-a-kind castle in Beverly Hills just went on the rental market which refers architecturally some popular series and shows. According Zillow gone wildthis castle has a game of thrones iron Thronea Alice in Wonderland backyard, and a Harry Potter apothecary themed bar. In addition to these unique features, the 15,200 square foot mansion boasts seven bedrooms, nine bathrooms and a six-car garage.

According to Zillow list, it costs $150,000 a month to rent this stellar space.

Here is what Sam Collins of Douglas Elliman of California, Inc. detailed on the property in the Zillow list:

“Intricately designed by the famous Robert Rivani, once you step through the gates of this private estate, the magnificent scale of his work of art comes to life. With its perfectly manicured park like grounds, set over more than 1, 7 acres with over 15,000 square feet of living space, you enter through the great room with windows that not only flood the home with bright, natural light, but perfectly frame the jetliner views that await you on one of the largest lots in the community and 9 bathrooms, the home also features a custom bar room, family room, expansive chef’s kitchen with island, stunning pool/spa, sports court and an underground garage for 6 cars.”

The ad also mentions that the house will be fully furnished upon move-in.

Global stocks extend losses as specter of recession looms


BANGKOK (AP) — Global shares were mostly weaker on Monday, with Chinese markets posting moderate losses after a week-long holiday reopened on news of more lockdowns in China due to rising coronavirus cases. COVID-19.

Shares fell in Hong Kong, Shanghai, Paris and London but rose in Frankfurt. Tokyo markets were closed for a holiday.

The declines followed another dismal weekend on Wall Street as a strong U.S. jobs report added to concerns that the Federal Reserve could view stronger-than-expected hiring data as evidence that the economy has not slowed enough to bring inflation under control. That could mean even bigger rate hikes that could make a recession more likely.

A US consumer price report on Thursday will be one of the main factors for markets this week. Investors are also awaiting the latest updates on how companies are coping with higher prices and interest rate hikes.

The German DAX edged up 0.1% to 12,289.96, while the CAC 40 in Paris slipped 0.5% to 5,837.25. Britain’s FTSE 100 fell 0.5% to 6,956.55.

The futures contract for the S&P 500 lost 0.3% while the contract for the Dow industrials was down 0.2%.

On Friday, the S&P 500 fell 2.8%, ending with a 1.5% gain for the week, its first weekly gain in four weeks. The Dow Jones Industrial Average slipped 2.1%, while the Nasdaq fell 3.8%. The Russell 2000 Index fell 2.9% to 1,702.15.

Markets were closed Monday in Tokyo, Taiwan and South Korea. The Hang Seng in Hong Kong fell 3% to 17,216.66 while the Shanghai Composite Index lost 1.7% to 2,974.15. Bangkok’s SET lost 0.6% and India’s Sensex lost 0.4%.

Chinese cities were imposing more closures and travel restrictions after the number of new daily COVID-19 cases tripled during a holiday week, ahead of a big Communist Party meeting in Beijing next week.

China is one of the few places still resorting to harsh measures to prevent the spread of the disease. The long-ruling Communist Party is particularly worried as it tries to present a positive image of the nation ahead of a party congress every five years that begins on Sunday. The strict “zero-COVID” approach has had an economic impact, especially on small businesses and temporary workers. Many in China hope the pandemic politics will ease after the meeting.

The dollar was trading at 145.43 Japanese yen from 145.34 on Friday evening, adding to pressure on Japan’s central bank to counter the yen’s prolonged decline by adjusting its policy of holding its benchmark interest rate in place. below zero to fight deflation.

The euro slipped to 97.10 US cents from 97.36 cents.

Prices rose in Japan, pushed up mainly by global inflation and soaring oil and gas costs, but the Bank of Japan stuck to its ultra-loose monetary policy while the Fed continued its sharp rate hikes. Higher expected yields pushed the dollar higher against the yen.

The U.S. government report showing employers hired more workers last month than economists predicted could pave the way for the Fed to continue to aggressively raise interest rates, potentially triggering a recession if it does. is done too harshly.

Employers added 263,000 jobs last month, less than July’s hiring pace of 315,000, but still more than the 250,000 expected by economists.

Oil prices also kept pressure on inflation, rising as major oil-producing countries pledged to cut production. On Monday, the US benchmark fell 92 cents to $91.72 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it posted its biggest weekly gain since March, jumping 4.7% to settle at $92.64 a barrel.

Brent crude, the pricing basis for international trade, fell 45 cents to $97.47 a barrel. It rose 3.7% on Friday to settle at $97.92.

Beyond higher interest rates, analysts believe the next hammer blow to equities could be a potential decline in corporate earnings. Businesses face high inflation and interest rates that eat away at their profits, while the economy slows.

Carson City Community Comes Together to Raise Nearly $200,000 for Boys and Girls Clubs of Western Nevada at Annual Luau | Carson City Nevada News


Nearly 600 people attended the 29th Annual Boys & Girls Clubs of Western Nevada Luau on September 10 at the MAC, making it an evening to remember.

Live Hawaiian music from local band, Hoaloha, entertained guests as they savored a roast pork buffet by Carson City BBQ, Hawaiian Shave Ice by Island Breeze Events, an exciting live auction and meet-and-greets with friends.

This year, the Club’s art department went beyond its decorations, designing a photo backdrop and several palm trees to give an extra authentic touch. Club staff, members and the entire Carson City and Carson Valley community gathered for the luau.

“It was wonderful to see such an enthusiastic crowd of Club supporters in one room. Year after year we continue to grow and we couldn’t do it without the support [of] our community, our generous donors, club families and staff,” said club board member Alex Walden.

“We have big goals for the future and the annual BGCWN Luau is essential to moving forward and delivering the very best for our members! A big thank you to everyone who participated and made this possible!”

Another highlight of the evening was the Bob Crowell Community Ambassador Award, established by Boys & Girls Clubs of Western Nevada (BGCWN) to honor an individual or couple in our community who exemplifies the character and humility of Mayor Bob Crowell. himself.

In the 3rd year of this award, the Club and the Crowell family were honored to recognize a couple who continually embody Bob’s heart and soul, go above and beyond in our community and have won over the heart of many, Larry and Susie Messina.

Mayor Bob never skipped a beat and was always ready to support the Club and its members. There is no better way to recognize what he has done for the Boys and Girls Club, and for our entire community, than to honor his memory with this award.

At the event, there was a wave of donations for the club’s Stand Up For Kids (SUFK) fundraising campaign. Most donors have pledged around $950, which covers the cost of one child’s membership fees for the whole year.

Over 250 of their current family households are receiving financial assistance from the Club, and SUFK is assisting their efforts to reach more young people in our community. Funds raised through the Luau allow the Club to continue to provide high quality programming throughout the year.

Everyone present supported their mission to inspire and enable all young people, especially those most in need, to realize their full potential as productive, responsible and caring citizens.

Brett Zunino, the CEO of BGCWN, discussed the purpose of the luau as well as a future look at the club as a whole.

“Together, we help make a difference. As a community, we have raised nearly $200,000 which will bring us closer to our expanded vision over the next 2 years to: [1] Increase our membership by more than 570 children, bringing our total to 2,200, [2] increase our average daily attendance from 310 to over 600 members, which includes 70 more teens, 320 more children before and after, and 330 more children participating in our programs when school is out for the summer and holidays [3] and we are confident that we will be nearing completion at our new Carson Valley location,” Zunino said.

“Thanks to the generosity of the community, we will reach more children than ever! Together, I want us to seize every opportunity that comes our way to impact the lives of thousands of children, strengthen family unity, and change the landscape of our community. On behalf of the team and the children, we are eternally grateful!

Local businesses and community members not only sponsored the luau, they volunteered their time and energy by inviting other community members to attend and donated fantastic items to their sale. at auction and in their raffle.

Every attendee contributed to the success of the Luau and should be celebrated. The BGCWN thanks its main sponsors: SlotWorld & Bodine’s Casino – the main sponsors; RISE Carson City – the Kahuna level sponsor; Bently Nevada, Southwest Gas, Nevada News Group, LP Insurance, Carson Tahoe Health, Miles Construction, Renown Health, Briggs Electric, Environmental Protection Services, Local IBEW 401 – Maui Level Sponsors; VT Accounting Associates, Allison MacKenzie Law, Paradiso Communities, AT&T, Lumos & Associates, United Federal Credit Union, Carson Valley Medical Center, Qualcan, Silver State Government Relations, Carson City Motorsports and Enterprise Holdings Foundation – the Oahu level sponsors. Liquid Death donated refreshing water to hydrate attendees between delicious Mai Tais prepared by Rice Street Events volunteers.

If you would like to donate to BGCWN, go to bgcwn.org/donate.

Canada’s Immigration Problem: Not Enough Housing for Newcomers


Immigration to Canada is set to hit a record high in 2022 of 431,000, after entering around 405,000 the previous year, and the country is targeting the entry of an additional 900,000 newcomers in 2023 and 2024 combined. Due to immigration, Canada’s population over the past half-decade has grown at nearly twice the rate of its Group of Seven peers, Statistics Canada said.

The aggressive inflow, however, has impacted Canada’s housing market, which among the G-7 countries has the lowest number of homes per capita, Bank of Nova Scotia economists calculate.

Population growth, housing shortages and low interest rates have helped drive up home prices in Canada’s largest centers, prompting potential buyers to look further afield and drive up prices in more small and remote, unaccustomed to property booms. The cost of a single-family detached home has doubled over the past decade, according to data from the Canadian Real Estate Association. Data collected by the Federal Reserve Bank of Dallas indicates that Canada had, until recently, recorded one of the fastest house price growth rates among major developed economies.

And the pressure of immigration on housing continues to be felt. In the second quarter, Canada recorded the fastest population growth over a three-month period since 1949, when Newfoundland and Labrador joined the country as the 10th province. Immigration accounted for 95% of this growth. Overall, Canada’s population is 38.9 million, up from 34.7 million a decade ago, with immigrants making up more than a fifth of the population.

“We cannot keep up with the volume of immigration coming into the country,” said Christopher Alexander, president of the Canadian unit of Re/Max Holdings Inc., the global real estate listing firm with 140,000 agents worldwide. .

A rush is now underway among Canadian officials to build housing and ease supply constraints. “There was a lack of forward thinking, a lack of planning on the housing side, about what the real [housing] need was going to be,” said Abe Oudshoorn, a professor at Western University’s school of nursing in London, Ont., and leader of a research group that since 2016 has tracked the arrival of 51 families. immigrants to Canada and their journey to home ownership. the families his research group has tracked remain stuck in homes that are too expensive or too small for their growing families.

Kanishka Noorzai and his wife, four sons, parents and younger sister arrived here in February from Afghanistan via Albania and settled in Waterloo Region, an urban center of half a million people. people west of Toronto. After a months-long search that took him through apartments, townhouses and other homes, he found a three-bedroom bungalow – costing nearly $3,000 a month for a one-bedroom lease. year, or “really, really over our budget”, said Mr Noorzai, 43, who currently works part-time as a security guard but is looking for a full-time job.

“I was really surprised,” he said, “because I didn’t think it would be so hard to find a house in Canada. It was a nightmare.” He heard of friends who fled Afghanistan to the United States, where they found reasonably priced housing. The bungalow he has settled into is not ideal, Mr Noorzai said, “but at least it is better than a hotel”, where a local immigration agency had housed his family during their search for lodging.

Real estate agents, homebuilders and economists say housing starts – which last year hit their highest level in more than four decades – need to accelerate further to meet demand fueled by immigration, against a backdrop of higher material costs and labor shortages in the construction industry.

Mike Moffatt, senior policy director at the University of Ottawa’s Smart Prosperity Institute, a think tank, said one of the reasons for the delay in housing starts is that regional and local officials have underestimated population growth and overestimated the number of dwellings. “Our zoning laws were established for a country with low population growth. When our population started to grow, our regulatory environment did not adapt to this reality,” he added.

The national housing agency, Canada Mortgage and Housing Corporation, said the country will need 3.5 million more homes above current housing construction projections by 2030 to restore affordability housing.

“It takes several years to increase housing supply to meet the sudden increase in immigration,” said Aled ab Iorwerth, CMHC’s deputy chief economist.

Representatives of Canada’s immigration and housing ministers said officials were working closely with provincial and municipal governments to set annual immigration targets, and that the government had provided funding to help regions make in the face of housing pressures fueled by immigrants.

“Newcomers play a crucial role in the future of our communities and our economy, and we are doing everything in our power to set them up for success,” the spokespersons said.

Canada intends to spend C$10 billion, the equivalent of about $7.3 billion, to help double the construction of homes over the next decade. Some of the money will be used to encourage municipalities to change zoning laws. Ottawa also wants to tie municipal access to funding for services like public transit and sewage management to a promise to increase housing supply. The City of Toronto, a magnet for immigrants, recently authorized the construction of self-contained residential backyard units, or so-called garden suites, to help ease the housing crisis.

Sharp rate hikes by the Bank of Canada this year have triggered a sharp decline in real estate activity and a deceleration in annual growth in house prices, although economists say immigration and a trend of lower housing households as the population ages will put a floor on the current price drop.

As for the Canadian rental market, it is tightening in major urban centres, reflecting immigration trends and house prices still at high levels. The average rent for all property types in Canada in August rose 11.1% from a year ago to nearly C$2,000, the highest level in three years, the data shows. from Rentals.ca.

“Immigration needs to throw gas on the burning rental market,” said Scott Ingram, a Toronto-based real estate agent. Annual rent increases in Toronto and its suburbs and suburbs range from 10% to 26%, Rentals said. California.

The Toronto Region Board of Trade calculates that one-third of Canada’s immigrants settle in Toronto, the country’s largest metropolitan area with 6.2 million people. For every two immigrants who arrive in Toronto, at least one resident leaves due to high housing costs and limited supply, said Craig Ruttan, the council’s policy director.

“We are sort of in a Catch-22. We need immigration because of labor shortages and the need for new workers,” Ruttan said. “At the same time, we hear and see the housing shortage.

Benjamin Tal, an economist at CIBC Capital Markets who studies real estate trends, said he’s worried Canada doesn’t have the labor capacity to build needed housing. Canada has focused on attracting well-educated and highly skilled immigrants, he said. “We need to rethink immigration in the sense that we also need a segment of newcomers to be less skilled, because that’s where the shortage is. »

The most recent data from Statistics Canada indicates that the construction sector had approximately 82,000 vacancies, for a vacancy rate of 6.5%, higher than the national average of 5.4%. BuildForce Canada, a labor market data provider, predicts nearly a quarter of home construction workers will retire by the end of 2031, forcing companies to hire more than 100,000 new workers to fill the gap. empty.

“Competition for workers is going to be incredibly intense,” said Bill Ferreira, executive director of BuildForce.

Disclaimer: This story was published from a news agency feed with no text edits.

Southern Indiana Agencies Face Increased Demand for Rental Assistance | New


SOUTHERN INDIANA — The Southern Indiana Homeless Coalition says the region’s housing needs are reaching crisis levels.

Leslea Townsend Cronin, executive director of the Homeless Coalition, urges collaboration between local government and community organizations to address housing issues facing residents.

Rising evictions and a lack of stable housing are among the issues facing residents of southern Indiana, and local agencies are facing a ‘tidal wave of concern’ that they won’t will not have the capacity to meet those needs, she said.


This summer, partner agencies were telling the coalition they were overwhelmed with requests for rental and utility assistance, and they continue to struggle with growing demand, Cronin said.

Agencies in Clark, Floyd and Harrison counties have seen nearly a 50% increase in demand for rental and utility assistance from 2021 to 2022.

“We were getting a lot of these applications and agency visits, and we really had a big uptick from what we had seen,” she said.

Many agencies are struggling to meet the demand for services as they lack federal funding for COVID-19 assistance.

“The point was that it created a roadblock for the effects of COVID, and it did, except it also created a situation where people are now confused about what services are available and available to them, and that money is drying out.” Cronin said. “And COVID hasn’t gone away yet.”

Faced with a “crack in the dam” created by federal funding, agencies that have been able to offer rental assistance in recent years can no longer offer services at the same level, including organizations such as Hope Southern Indiana and the Salvation Army of Southern Indiana, according to Cronin.

A report by Prosperity Indiana and the National Low Income Housing Coalition calculates that Hoosiers would have to earn a “housing wage” of $16.97 to pay for renting a two-bedroom apartment at fair market value. Housing pay is even higher in the Louisville area.

According to the report.

The Louisville metro area housing wage would be $18.46 to rent at fair market value.

As rental costs rise, Cronin said it’s getting harder for tenants to keep up with rising rent and other costs, and landlords are getting tired of waiting a few months to rental assistance is coming.

Now fewer landlords are offering cheap rentals and local apartments are being sold to companies that are unwilling to accept rental assistance through a third party, she said.

People who previously didn’t need help are now struggling, and they are months behind on rent and at risk of eviction, Cronin said.

“We see these people who have never needed support or assistance, and they don’t know where to go,” she said. “They think, I’m going to pay this month’s rent next month, I can work longer or do whatever, then they can’t and now they’re two months behind.”

Many people are unaware of their eviction rights, and people see local landlords illegally cutting corners in the eviction process, Cronin said.

“We have a lot of landlords who sort of circumvent the system by just posting notes saying, you have to get out in seven days, you’re kicked out,” she said. “It’s not legal – eviction is an expensive process for landlords.”

Cronin points to the difficulty it will cause for people to have an eviction on their case, and she expects a ‘huge population’ in southern Indiana to struggle to find alternative housing after being evicted .

The Homeless Coalition receives a large number of calls from people at risk of homelessness, and there has been a ‘slow increase’ in the number of people the coalition has noticed living on the streets or living in their cars , she said.

Cronin worries about a further rise in homelessness. Although people can fit into shelters run by Catalyst Rescue Mission in Jeffersonville or St. Elizabeth Catholic Charities in New Albany, space is limited, she said.

“If things continue on the trajectory they’re on and a lot of people get kicked out, they won’t be able to keep up with the demand, and the agencies aren’t able to keep up with the demand right now,” Cronin said. said. “They have to say no to people.”

It is often difficult for people to leave social housing due to the high cost of rental accommodation, making it harder for those in need of social housing to access it, she said.


Cronin said she wants to see a regional approach to the housing issue in southern Indiana.

“It’s not just a Floyd County problem, a New Albany problem, or a Clark County problem or a Jeffersonville problem — it’s really a regional problem, because people are leaving New Albany to go to Jeff or Clarksville or whatever, so that’s really a call to action for cities, let’s look at that and come up with a plan of action.

She wants to see what housing is available in the area, whether it’s housing for the workforce or the most expensive houses.

“Everyone should have their place,” she said. “I think looking at housing regionally, not just in Clark and Floyd County, is going to be really important.”

Many agencies are struggling to meet the demand for services as they lack federal funding for COVID-19 assistance.

“The point was that it created a roadblock for the effects of COVID, and it did, except it also created a situation where people are now confused about what services are available and available to them, and that money is drying out.” Cronin said. “And COVID hasn’t gone away yet.”

Faced with a “crack in the dam” created by federal funding, agencies that have been able to offer rental assistance in recent years can no longer offer services at the same level, including organizations such as Hope Southern Indiana and the Salvation Army of Southern Indiana, according to Cronin.

A report by Prosperity Indiana and the National Low Income Housing Coalition calculates that the average Hoosier would need to earn a “housing wage” of $16.97 to pay for renting a two-bedroom apartment at fair market value, and the cost is even higher in the Louisville area.

The housing wage to afford a two-bedroom apartment at market rent would be over $18 an hour in areas where it is more expensive to rent, including the Lafayette-West Lafayette, South Bend-Mishawaka areas , Bloomington, Cincinnati and Louisville.

According to the report, the Louisville metro area “housing wage” would be $18.46 to rent at fair market value.

As rental costs rise, Cronin said it’s getting harder for tenants to keep up with rising rent and other costs, and landlords are getting tired of waiting a few months to rental assistance is coming.

Now fewer landlords are offering cheap rentals and local apartments are being sold to companies that are unwilling to accept rental assistance through a third party, she said.

People who previously didn’t need help are now struggling, and they are months behind on rent and at risk of eviction, Cronin said.

“We see these people who have never needed support or assistance, and they don’t know where to go,” she said. “They think, I’m going to pay this month’s rent next month, I can work longer or do whatever, then they can’t and now they’re two months behind.”

Many people are unaware of their eviction rights, and people see local landlords illegally cutting corners in the eviction process, Cronin said.

“We have a lot of landlords who sort of circumvent the system by just posting notes saying, you have to get out in seven days, you’re kicked out,” she said. “It’s not legal – eviction is an expensive process for landlords.”

Cronin points to the difficulty it will cause for people to have an eviction on their case, and she expects a ‘huge population’ in southern Indiana to struggle to find alternative housing after being evicted .

The Homeless Coalition receives a large number of calls from people at risk of homelessness, and there has been a ‘slow increase’ in the number of people the coalition has noticed living on the streets or living in their cars , she said.

Cronin worries about a further rise in homelessness. Although people can fit into shelters run by Catalyst Rescue Mission in Jeffersonville or St. Elizabeth Catholic Charities in New Albany, space is limited, she said.

“If things continue on the trajectory they’re on and a lot of people get kicked out, they won’t be able to keep up with the demand, and the agencies aren’t able to keep up with the demand right now,” Cronin said. said. “They have to say no to people.”

It is often difficult for people to leave social housing due to the high cost of rental accommodation, making it harder for those in need of social housing to access it, she said.


Cronin said she wants to see a regional approach to the housing issue in southern Indiana.

“It’s not just a Floyd County problem, a New Albany problem, or a Clark County problem or a Jeffersonville problem — it’s really a regional problem, because people are leaving New Albany to go to Jeff or Clarksville or whatever, so that’s really a call to action for cities, let’s look at that and come up with a plan of action.

She wants to see what housing is available in the area, whether it’s housing for the workforce or the most expensive houses.

“Everyone should have a place,” she said. “I think finding housing regionally, not just in Clark and Floyd County, is going to be really important.”

Cronin would like to see more multi-income apartment communities, and she would like to see more programs to help people buy homes instead of renting, saying “affordable housing also means those who can buy a home and reinvest in it. the community”.

The region needs to know how to invest effectively and “build a community around what is really needed”, she said.

Israeli army kills 2 Palestinians in West Bank clashes


JERUSALEM (AP) — The Israeli army killed two Palestinian teenagers on Friday during clashes in the occupied West Bank, the Palestinian Health Ministry said.

The ministry identified the two Palestinians, killed in separate episodes, as Adel Daoud, 14, shot in the head at the Israeli separation barrier near the Palestinian town of Qalqilya, and Mahdi Ladadweh, 17, killed in clashes in a village northwest of Ramallah.

The men were among more than 100 Palestinians killed in the West Bank so far in 2022 – the deadliest spasm of violence in seven years.

The Israeli army said troops opened fire in response to a suspect throwing molotov cocktails at them near Qalqilya. He said he would look into the incident.

The military did not immediately comment on the other fatal shooting near Ramallah.

The Palestinian Red Crescent Society said 50 Palestinians were injured in clashes in the village of Al Mazraa al-Gharbiya near Ramallah, as the Israeli army fired live ammunition, rubber bullets and tear gas to disperse the demonstrators. Crowds of Palestinians gathered outside the Ramallah hospital where Ladadweh was pronounced dead, chanting against Israel.

Palestinian media quoted residents as saying that clashes with Israeli security forces erupted as dozens of Palestinians from Al Mazraa al-Gharbiya came out to protest the incursions and attacks on the village by Israeli settlers.

Violence has escalated sharply in the West Bank in recent months, largely due to a spike in Israeli arrests after a series of Palestinian attacks in Israel that killed 19 people last spring, some of which were carried out by Palestinians from the West Bank.

Israel says its operations are aimed at dismantling militant infrastructure and preventing future attacks, and that it was forced to act due to the ineffectiveness of the Palestinian security forces. For Palestinians, the nightly raids on their towns, villages and cities have reinforced Israeli control over the land Palestinians want for the state they hope for.

According to Israel, most of those killed were activists, but local youths protesting the incursions as well as civilians were also killed in the violence. Hundreds of people have been arrested, many held in so-called administrative detention, which allows Israel to detain them without trial or charge.

The violence is also fueled by the growing disillusionment of young Palestinians with the close security coordination between Israel and the internationally-backed Palestinian Authority, which work together to apprehend the militants.

Israel captured the West Bank in the 1967 Middle East war and 500,000 Jewish settlers now live in some 130 settlements and other outposts among nearly 3 million Palestinians. The Palestinians want this territory, along with East Jerusalem and the Gaza Strip, for their future state.

Position Firm Ups 2 by Chuck Royce


Royce Investment Partners revealed earlier this week that it had added two holdings.

The New York-based company, which was founded in 1972 by

chuck royce (Trades, Portfolio), specializing in small caps. The portfolio management team selects stocks using an active, bottom-up, risk-conscious and fundamental approach. They also look for value opportunities among companies that are trading at a discount to enterprise value.

According to GuruFocus Real-Time Picks, a premium feature based on 13D, 13G, and Form 4 repositories, the company has increased its Forrester Research Inc. (FORR, financial) of 8.37% and Computer Task Group Inc. (CTM, financial) of 12.62% as of September 30.

Forrester Research

Impacting the equity portfolio by 0.05%, the company increased its stake in Forrester Research (FORR, Financial) by 146,575 shares. The stock traded at an average price of $36.01 per share on the day of the trade.

He now owns a total of 1.89 million shares, or 0.70% of the equity portfolio. GuruFocus estimates that Royce has earned 10.56% on the investment over its lifetime.

The Cambridge, Massachusetts-based market research firm that provides insights into the existing and potential impacts of technology has a market cap of $724.47 million and an enterprise value of $711.43. millions of dollars ; its shares were trading around $38.17 on Thursday with a price-to-earnings ratio of 24.16, a price-to-book ratio of 3.43 and a price-to-sales ratio of 1.40.

The GF value suggests the stock is slightly undervalued based on historical ratios, past financial performance and analysts’ future earnings projections.


The GF score of 89 out of 100 indicates that the company has good outperformance potential. It received high marks for profitability, growth and GF value and medium marks for financial strength and momentum.


Forrester Research released its second quarter results in July. It posted adjusted earnings of $1 per share on revenue of $148.2 million, up from the year-ago quarter.


GuruFocus rated Forrester’s financial strength at 6 out of 10. Despite adequate interest coverage, the Altman Z-Score of 2.45 indicates that it is under some pressure as assets accumulate at a faster rate than income does not increase. The weighted average cost of capital also eclipses the return on investment, which means the company struggles to create value as it grows.

The company’s profitability also performed well with a score of 8 out of 10. Although the operating margin was down, its returns on equity, assets and capital overall outperformed its competitors. Forrester also has a moderate Piotroski F-Score of 6 out of 9, indicating conditions are typical for a stable business. Steady profit and revenue growth contributed to a predictability ranking of 2.5 out of five stars. According to research by GuruFocus, companies in this ranking have an average return of 7.3% per year over a 10-year period.

Royce’s company has the largest stake in Forrester with 10% of its shares outstanding. The title is also held by

Jim Simons (Businesses, Portfolio)’ Renaissance Technologies and

Jeff Auxier (Jobs, Portfolio).

IT working group

With an impact of 0.01% on the stock portfolio, the firm’s Computer Task Group (CTM, Financial) was increased by 175,858 shares. On the day of the trade, the shares traded at an average price of $6.70 each.

Royce Investment now owns 1.56 million shares in total, representing 0.11% of the equity portfolio. Data from GuruFocus shows that it has lost around 50.48% on the investment so far.


The information technology consulting firm, headquartered in Buffalo, New York, has a market capitalization of $110.65 million and an enterprise value of $92.33 million; its shares were trading around $7.13 on Thursday with a price-to-earnings ratio of 7.35, a price-to-book ratio of 1.16 and a price-to-sales ratio of 0.28.

According to the GF Value Line, the stock is currently slightly overvalued.


The company has an average performance potential based on its GF score of 75. While it scored high for profitability, financial strength and momentum, it scored an average for growth and a low score. for the GF value.


Computer Task Group released its second quarter results in August. It posted adjusted earnings of 15 cents per share on $82.76 million in revenue. While profits were up from the year-ago quarter, sales were down.


Computer Task Group’s financial strength has been rated 8 out of 10 by GuruFocus, thanks to ample interest coverage and a high Altman Z-Score of 4.6 which indicates it is in good standing, even if assets are weak. are accumulating at a faster rate than income growth. The ROIC also eclipses the WACC, so value creation occurs.

The company’s profitability was rated 7 out of 10 thanks to operating margin expansion and strong returns ahead of its industry peers. Computer Task Group also has a moderate Piotroski F-Score of 6. Despite declining earnings per share over the past year, it has a one-star predictability ranking. GuruFocus found companies with this rank yield, on average, 1.1% per year.

With a 10.11% stake, Royce’s company is Computer Task Group’s largest guru shareholder. Simons’ company also owns the stock.

Composition and performance of the portfolio

Royce Investment Partners’ $9.71 billion equity portfolio, which according to Filing 13F consisted of 936 stocks at the end of the second quarter, is most heavily invested in the financial services,… industry, technology and cyclical consumption.


The company’s five largest holdings as of June 30 were SEI Investments Co. (CEIU, Financial), Valmont Industries Inc. (VMI, Financial), Vontier Corp. (VNT, Financial), Standard Motor Products Inc. (SMP, Financial) and Vishay Intertechnology Inc. (VSH, Financial).

The Royce Premier Fund returned 16.36% in 2021, underperforming the 28.7% return of the S&P 500 Index and outperforming the 13.69% return of the Russell 2000.

Investors should be aware that 13F filings do not provide a complete picture of a company’s holdings as the reports only include its positions in US stocks and US certificates of deposit, but they can still provide valuable insight. Additionally, the reports only reflect transactions and holdings as of the most recent portfolio deposit date, which may or may not be held by the reporting company today or even when this article was published.

Knight Frank is revolutionizing the rental industry with access…


Rental agency Knight Frank has partnered with accessible housing consultancy AccessiblePRS to improve access and inclusion in the UK’s private rental sector.

The agency says that across the UK there are more than 400,000 wheelchair users who live in unsuitable properties and 1.8 million households containing at least one person with accessible housing needs, who struggle to find suitable properties to rent.

AccessiblePRS catalyzes access and inclusion by increasing the supply of wheelchair accessible accommodation in the UK and, in its own words, “levels the playing field for older and disabled tenants to find properties appropriate, and changes the narrative around accessibility so that the mainstream real estate industry understands its relevance and benefits.

As part of the partnership, Knight Frank will join the organization’s accessible rental program and launch a series of initiatives across its rental business, including:

– Use key phrases and standardized words related to accessibility on property listings;

– Training of all staff to understand barriers to inclusion in rentals; understand the needs of tenants with disabilities; identify potentially suitable properties and provide clearer online information;

– Identify private rental sector champions within the corporate rental division;

– updated presentation of floor plans, property listings and photographs to ensure clarity for potential tenants

– create inclusive office displays;

– the provision of a page dedicated to rentals accessible on the firm’s website.

Beverley Kennard, Rental Operations Manager at Knight Frank, says: “We recognize that there is an industry-wide problem when it comes to supporting people with accessible housing needs. This partnership with AccessiblePRS will allow us to make positive changes, which will open up the viewing process to those with different accessibility needs. We are committed to ensuring the best possible customer experience for our diverse range of customers and customers and look forward to working with the AccessiblePRS team to achieve this.

And Guy Harris, founder of AccessiblePRS, adds: “I am delighted to work with Knight Frank, whose people have been so engaged and focused. Their early recognition of the social and business opportunities to include more people with diverse housing needs will have a wider influence on ownership. I appreciate their leadership and influence.

Knight Frank says it will begin rolling out the new initiatives across its rental business in October and will consider opportunities to expand the program to other areas of the business in due course.

New York woman used fake IDs to get ‘high-end’ apartments for gang members


A con artist used stolen identities to rent high-end apartments to gang members in New York – and business was so good she drove a Bentley and lived in a luxury Manhattan building overlooking the Hudson, according to authorities.

When federal agents arrested Latoya Williams, 35, at her Waterline Square home on W. 61st St. on Wednesday, they found hundreds of thousands of dollars in cash, law enforcement sources said.

A murder in Queens helped the FBI unravel Williams’ scheme, according to a lawsuit filed in federal court in Brooklyn.

Police found the bullet-riddled body of a member of Makk Balla Brims in Queens on February 7, 2021, and a search of the dead man’s phone revealed a match to Williams’ number – which was on his contact list. , according to the complaint.

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This murder victim, Tyrone Jones, 37, was shot dead by Law and Order: SVU actor Isaiah Stokes, in a fight over a woman, police and prosecutors said.

Police are investigating after Tyrone Jones was fatally shot in a car on Linden Blvd.  near 201st St. in Queens on Sunday, Feb. 7, 2021.

Williams has been running the rental scam for at least 2020 and “has used fake IDs, pay stubs, tax documents and other falsified documents to obtain property rentals and utilities in high-end apartment buildings. range in and around New York,” according to the complaint.

Victims whose identities she stole have been targeted by lawsuits and debt collection services, trying to recover months of unpaid rent, prosecutors say.

And police found five handguns hidden in a Brooklyn apartment they had rented from the Wood City gang, prosecutors said.

Waterline Square on W. 61st St. in Manhattan.

When law enforcement raided a Yonkers apartment used by the Wood City gang in August 2021, they found more clues to his operation, including letters asking one of the victims to identity fraud from paying his rent late.

An investigation found this person, and the name of a second victim, on the leases of several other apartments, including two places in Brooklyn.

A Brooklyn management company kept a photo of Williams when it saw an apartment under one of the victim’s names in October 2020, and last November the FBI monitored her as she renewed the lease from an apartment in Bayonne, NJ under the name of the other victim, according to the complaint.

Hong Kong shares soar 5%, leading Asian market gains


TOKYO (AP) — Hong Kong’s benchmark equity index climbed more than 5% on Wednesday as Asian stocks trailed gains on Wall Street.

New Zealand’s benchmark share rose 0.7% after its central bank raised its benchmark interest rate to 3.5%, saying inflation remained too high and labor work was rare. The half-point rate hike was the fifth in a row by the Reserve Bank of New Zealand since February.

Statistics New Zealand said inflation was 7.3% and unemployment 3.3%. The rate hike came on the same day the government announced its finances were in better shape than expected.

The Hang Seng in Hong Kong rose 5.3% to 17,988.86, catching up with gains elsewhere as markets reopened after a public holiday on Tuesday. Markets in mainland China remained closed for a public holiday.

Japan’s benchmark Nikkei 225 added 0.3% in morning trade to 27,079.49. Australia’s S&P/ASX 200 gained 1.5% to 6,797.80. Australian stocks rose after the Reserve Bank of Australia ordered an interest rate hike 25 basis points lower than expected on Tuesday.

South Korea’s Kospi added 0.6% in morning trade to 2,221.43.

Analysts said the latest inflation data from South Korea could prompt the Bank of Korea to raise interest rates at its scheduled meeting next week, but those hikes are expected to slow as inflation eases. mastered.

“We expect headline inflation to pick up again in October. Gasoline prices are likely to fall further, but the city’s gas and electricity rates were raised in early October and fuel prices fresh foods are likely to increase before winter,” said a report by Robert Carnell, regional head of Asia-Pacific research at ING.

On Wall Street, the Dow Jones Industrial Average climbed more than 2.8% to 30,316.32. The S&P 500 had its best day since May 2020 on Tuesday as the market recovered more of the ground it had lost in the past miserable weeks. It jumped 3.1% to 3,790.93.

Twitter jumped 22.2% after Elon Musk said he would go ahead with his $44 billion acquisition of the social media company, abandoning efforts to exit the deal.

The Nasdaq composite climbed 3.3% to 11,176.41. Smaller company stocks also made strong gains, pushing the Russell 2000 up 3.9% to 1,775.77.

The two-day rally hit markets as investors look for signs central banks may ease aggressive rate hikes aimed at tackling the highest inflation in four decades. Australia’s central bank raised interest rates less than previous ones.

In the United States, a government job vacancies report showed that the number of jobs available in the United States fell in August compared to July. It’s a sign that companies could further reduce hiring and potentially calm chronically high inflation, which could allow the Federal Reserve to slow the pace of rate hikes.

Investors are watching closely as central banks raise interest rates to make borrowing harder and slow economic growth in an attempt to tame inflation. Investors are hoping they will eventually ease their aggressive rate hikes and the Australian central bank’s move is a hopeful sign for some.

Investors worry that rate hikes, especially those by the Fed, will go too far in slowing growth and pushing economies into recession. The Fed has already pushed its main overnight interest rate to a range of 3% to 3.25%, from virtually zero as recently as March.

Economic growth is already slowing globally and the US economy contracted in the first two quarters of the year, which is seen as an informal signal of recession.

Wall Street will get a more detailed look at the job situation in the United States this week, with a report on hiring by private companies due out on Wednesday, the latest tally of weekly jobless claims on Thursday and the government’s monthly employment report for September on Friday.

In energy trading, benchmark U.S. crude fell 34 cents to $86.18 a barrel in electronic trading on the New York Mercantile Exchange. It jumped $2.89 to 86.52 on Tuesday. Brent crude, the international price standard, fell 30 cents to $91.60 a barrel.

In currency trading, the US dollar was virtually unchanged at 144.12 Japanese yen. The euro cost 99.72 cents, down from 99.87 cents.


Damian J. Troise, Alex Veiga and Nick Perry contributed to this report.

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

South Korea’s Naver to Acquire US Fashion Social Commerce Poshmark for $1.6 Billion


By Joyce Lee

SEOUL – South Korean tech firm Naver Corp said on Tuesday it had agreed to a $1.6 billion deal to buy Poshmark Inc, a U.S. apparel resale platform company, as a strategic investment to enter the the US e-commerce market.

Naver will acquire all of the issued and outstanding shares of Poshmark for $17.90 in cash. The deal is expected to close in the first quarter of next year.

The $1.6 billion includes Poshmark’s cash consideration, and Poshmark’s enterprise value is about $1.2 billion, a Naver spokesperson said.

Poshmark is the largest consumer-to-consumer fashion platform in North America, with 80 million registered users led by active Gen Z and Gen Z users, Naver and Poshmark said on a conference call on the agreement.

The deal will combine Poshmark’s shopping platform with Naver’s technology, including image recognition, artificial intelligence and live streaming, a key driver of e-commerce in South Korea, the companies said. in a press release.

The companies plan to target an $80 billion market in online fashion “re-commerce” in the United States, which is expected to grow 20% annually to reach $130 billion by 2025, according to Activate Consulting.

Shares of Poshmark jumped 14% to $17.8 in after-hours trading on Monday. However, Naver shares fell 5.2% from 0120 GMTagainst a rise of 2.3% on the whole market.

Naver acquired North American online literature platform Wattpad for around $600 million last year.

United Rentals Free Cash Flow Generates Strong Shareholder Returns (NYSE:URI)


JHVEditorial photo/iStock via Getty Images

Growing recession concerns and rising interest rates have meant that any company with economic sensitivity, real or perceived, has been a hard sell. United Rentals (NYSE: URI), the nation’s largest equipment rental company, was is no exception to this trend. Shares fell sharply a third since their peak in 2021, although they have performed very well over the past decade as the company has consolidated smaller players, increased size and margins, while using free cash flow to buy back stock:

URI stock price over 10 years

Looking for Alpha

It is important to note that this decline in share price was not caused by a deterioration in financial performance. In fact, after the second quarter, United Rentals raised its outlook for the year. The company will generate approximately $5.5 billion in EBITDA, which will drive approximately $2 billion in free cash flow in 2022.

Orientation 2022

United Rentals

The strong free cash flow comes even as the company invests heavily in expanding its rental equipment fleet, with rental purchases up about 11% to $1.35 billion. At the same time, its used equipment sales fell about 19% to $362 million. As a result, the book value of its rental equipment has increased nearly 5% year-to-date to $11.03 billion. The company is able to invest in expanding its fleet while generating significant free cash flow. Amid its outlook, URI trades at just 9.5 times that free cash flow, an attractive valuation.

It is important to note that URI does not just grow its fleet for fun. Indeed, if the company could not rent additional equipment, as shareholders, we would not want them to buy more. That’s why I like to look at fleet productivity, which combines changes in rental rates and utilizations to determine how much incremental revenue the company gets from each piece of equipment. That figure is up 11.3% in the second quarter, meaning the company is able to charge more for its equipment and rent it out more frequently. In this environment where demand exceeds supply, rental fleet expansion can be highly accretive to shareholders.

As United Rentals grew, it also strengthened the strength of its balance sheet. The company is now targeting a debt to EBITDA ratio of 2 to 3x, compared to 2.5 to 3.5x several years ago. Right now, the firm’s leverage is just at the bottom of the target at 2.0x. Businesses with more leverage are at risk when interest rates rise if they have to refinance maturities at higher rates, which increases interest expense and reduces free cash flow. URI’s low leverage positions it well for a period of rising rates. Indeed, a return to the midpoint of its debt target would mean additional debt of $2.7 billion. This gives the company significant ability to make an acquisition if an opportunity arises.

leverage over time

United Rentals

Because the company does not need to focus on paying down debt, it can instead focus on buying back stock. In the first half of this year, the company repurchased $762 million in stock and expects to have reached its 2022 target of $1 billion by the end of the third quarter. These stock buybacks add up over time. In 2015, URI had 95.2 million shares outstanding. Today, the company has 71.2 million outstanding, a reduction of 25.2%. So during this period, while net income increased 200% to $1.75 billion, net earnings per share increased 294%. The combination of underlying business growth and declining share count provides explosive growth for shareholders, generating very good returns over time.

With the company’s strong free cash flow generation, it is well positioned to reduce its share count by 5-10% per year over the next 3 years, which will help further accelerate EPS growth in beyond the $25 or so that I expect to earn this year. Importantly, I believe the company will be able to maintain strong free cash flow results over this period.

While equipment usage is thought to be highly cyclical, United Rentals actually has counter-cyclical free cash flow. The graph below shows two things. First, how much incremental free cash flow has the company generated in recent years by consolidating the equipment rental business, which has led to greater scale and higher margins. Second, free cash flow actually increased in 2008 and 2020, the two years we enter recession.

generation of free cash flow over time

United Rentals

There are two reasons for this. First, during times of economic uncertainty, businesses are more likely to lease equipment than to purchase their own. So while overall equipment usage may drop in a downturn, the URI gets a bigger slice of that pie. Second, the URI has considerable flexibility over its cap-ex. As usage decreases, she can extend the age of her fleet. Rather than selling equipment after three years, he can keep a quarter or a fifth. This significantly reduces capital expenditures, which increases free cash flow. Then, as the economy rebounds (as in 2011-2012), it spends to expand its fleet, reducing free cash flow this year but creating the foundation for higher cash flow in years to come. .

So even if you’re worried about an economic downturn, by reducing fleet purchases, URI could generate more cash and actually be able to increase stock buyback, which if done when the stock market is lower (as it may be in a recession) be even more accretive to earnings per share. However, I suspect that demand for URI equipment may prove more resilient than some fears. First, only 4% of its activity is related to residential construction, and it’s mostly multi-family, so as higher rates slow single-family construction, there’s very little impact.

Additionally, last year Congress passed a new infrastructure bill that continues to gain momentum as major projects take time to clear. This year, the CHIPS Act was passed to spur the construction of semiconductor factories, and state governments have strong finances. Increased government construction spending will drive demand for equipment, and URI derives nearly half of its revenue from non-residential construction. The demand here may actually increase accordingly.

The other half of its activity is related to the use of industrial equipment, the energy and chemical sectors being particularly important. Oil and gas investment has increased due to rising prices, and with Europe moving away from Russian energy, there is room for U.S. energy infrastructure spending to rise for respond to this request. Additionally, the recently passed Inflation Reduction Act specifically targets increased energy infrastructure spending. These sources of demand provide grounds for optimism even as the rest of the economy slows.

Of course, no investment is without risk. If business investment and construction activity were to slump, even if rental equipment gained market share, demand would likely plummet and result in lower fleet productivity. While URI can compensate for this to some degree by aging its fleet, if demand were to drop more than 15%, free cash flow would likely decline, although given the tailwinds I’ve listed, I views this difficult scenario as unlikely.

URI is also better positioned than its peers during downturns. The equipment rental market is very diffuse, with URI having a market share of over 15%, and 71% of the market is controlled by companies with less than 3% market share. With smaller scale, lower margins and less balance sheet flexibility than URI, they would likely suffer more. Indeed, the latest downturn has provided URI with the opportunity to consolidate smaller players, add scale and increase margins. So while the downturn will create short-term headwinds, there would potentially be long-term gains.

Because URI is acquisitive, having made over 300 acquisitions large and small, there is always the risk management of making an acquisition too expensive or expanding its fleet at the wrong time. Management missteps are a risk with any investment, but URI has proven to be a strong acquirer, as evidenced by its long-term free cash flow growth, share price performance and growth. margin expansion. He has also shown excellent discipline in recent years by reducing leverage rather than buying companies at the top of the market. Now, he has the ability to make deals if opportunities arise. It’s a risk I think investors should feel comfortable taking.

Overall, URI is a proven free cash flow machine that aggressively buys back stocks, has the business mix to weather an economic downturn, and can really increase free cash flow during downturns by aging its fleet. . However, given its mix of activities, demand should remain strong, which will help to further increase rental rates.

I think the stock should trade at a free cash flow yield of around 8%, given its continued strong repurchase ability, which at a rate of $2 billion equates to a stock price of stock around $350, a multiple of 14x P/E, offering almost 30% upside from current levels. I would recommend accumulating stocks here and letting the power of URI’s redemptions and cash generation provide strong returns over time.

Tenants seek city help amid soaring costs

This apartment complex in Albuquerque’s northeast heights has been advertising tenants. (Albuquerque log file)

Copyright © 2022 Albuquerque Journal

When Mia Augustson’s landlord raised her rent by more than $200 earlier this year, the financial fallout rippled through her life.

Because the increase far exceeded the increase that Augustson and her spouse — both disabled — saw in their income, the couple had to start cutting expenses to make their base rent of $1,046 worth it. Augustson said they ditched their car, postponed some health care and canceled a planned 20th anniversary celebration.

It was difficult but doable.

Now, however, they face another challenge: Upcoming renovations to the resort will displace them once their lease expires at the end of the year. Augustson said she was trying to find a new place that was both suitably set up to meet their physical needs and within budget. At the moment, she says, they have “nowhere to go and really no way to get there because we’ve drained our savings to pay the rent.”

The couple applied for help through a number of programs, she said, but their dual disability income is considered too high to qualify for many programs.

Augustson is among those pushing city leaders to do something to provide relief, saying she’s not sure they fully understand the housing difficulties many city residents are currently facing. .

“We’re talking about people who are personally pretty well insulated from these kinds of disasters,” she said. “They don’t know what it’s like to literally fight for survival in a first world country.”

The city has ample evidence of a problem.

Two years ago, he funded research that found Albuquerque had 15,500 affordable housing units, falling short of meeting the needs of its poorest residents. An Albuquerque housing official says the gap has only widened since that study.

According to Rent.com, the average monthly rent for a bedroom in Albuquerque has increased by 42% during the pandemic. It is now $1,155, down from $1,064 a year ago and $812 at the start of the pandemic, according to data from the online SEO service.

The city’s efforts

Although there are new indications that rental price growth is slowing after unprecedented increases, prices remain a burden for many in Albuquerque, and executives are coming under increasing criticism for their perceived inaction. At a recent city council meeting, a public speaker compared the city’s relief efforts to using bandages to treat an amputated arm. Another told the council ‘there is a humanitarian crisis happening on your watch’.

What is the city doing?

While some citizens are pushing for rent control, councilors and other city officials have pointed out that state law prohibits local governments from adopting such a policy.

But they maintain that they are trying to solve the problem from several angles.

Lisa Huval, the city’s deputy director for housing, said the city partnered with the state last year to secure millions of federal dollars in rental and utility assistance in the community. The municipal government has also increased spending on rent subsidies or vouchers. There is more than $23 million in municipal and federal bond funding available, including an additional $9.8 million in ongoing annual funding added to the budget this year. It also increased legal and other supports for those facing deportation.

However, Huval said the city sees the main problem as an overall housing shortage. The city simply needs more housing at all price levels.

“One of the main reasons house prices are going up and we’re all feeling the impact is that there’s not enough housing – there’s not enough apartments and not enough of homeownership units,” she said. “From our perspective, solving the housing problem for everyone – not just people (with incomes low enough to qualify for most aid) – is really about increasing the supply of housing.”

The city’s latest initiatives include the purchase and conversion of hotels into affordable budget apartments, which is facilitated by a recent zoning change. The city plans to start with one property and “grow,” Huval said. He’s currently working on buying the Sure Stay Hotel at 10330 Hotel NE, but the deal isn’t done and a city spokeswoman said she couldn’t provide further details on the plan yet.

City Council also this spring approved borrowing $20 million as part of a $100 million gross revenue tax bond package for affordable housing, which Huval says can be used to creation of new units or the acquisition and rehabilitation of properties.


Officials say they are also doing more to prevent those currently housed from descending into instability or homelessness.

The city now has staff inside the eviction court as part of a diversion program, attending more than 6,000 hearings in the first half of 2022. The staff are part of CORA, or the Court Program Outreach for Rental Assistance, and can provide real-time information to renters on how to request assistance or the status of their case if they have already done so. Judges hearing eviction cases may send landlords and tenants to a meeting with a CORA staff member.

“Due to the information provided by CORA staff during these hearings, judges are often delayed in making a final decision,” city spokeswoman Katie Simon said in written responses to Journal questions. though she said the city was unable to track the final results.

The city also has internal and external legal assistance for tenants.

The city’s Office of Civil Rights handles housing complaints and occasionally offers legal representation. The city’s OCR has received 68 housing complaints so far in 2022, according to records provided to the Journal. Callers report issues like landlords not following the housing code or discrimination based on disability, race or other factors protected by the city’s human rights ordinance. Those complaints generated two “thorough” municipal investigations — meaning the government drafted or filed a legal complaint — and, in another case, the office researched the matter. The rest were either handled with one or two phone calls or referred to another agency such as other city departments or outside agencies better able to help, the city reported.

The city currently funds three outside housing attorneys through contracts with New Mexico Legal Aid and the New Mexico Immigrant Law Center.

Prevention efforts

Riley Masse, the housing stability attorney at New Mexico Legal Aid, said the state is also currently paying additional housing support attorneys to the organization, which specifically serves low-income people. income – this usually means up to 125% of federal poverty. but in some cases up to 200%. The federal poverty level is currently $13,590 for a one-person household.

She said agency attorneys opened up to 20 new cases a week statewide, up from just five earlier in 2022. The growth, she said, coincided with the expiration protections against pandemic-related evictions. The New Mexico Supreme Court had in 2020 imposed a moratorium on eviction cases related to non-payment of rent, but phased it out this spring.

“There are probably more cases than we could (help),” she said. “We just don’t have the capacity to represent as many people as there are calls and we would scale representation priorities.”

Legal Aid also operates a city-paid landlord-tenant hotline – 505-273-5040. It provided housing information to about 1,413 callers in fiscal year 2022, according to the city.

A Legal Aid spokesperson said all are encouraged to call, regardless of income.

“If we cannot take your case due to federal financial restrictions, we will work with you to find the specific programs or nonprofit organizations that can offer assistance,” spokesperson Paxton Patrick said.

Mia Augustson said ongoing efforts in Albuquerque and across the state still leave behind many people who don’t meet income requirements but are still struggling. She said she hoped there would be political will to do something more.

“Production (more housing) is a step in the right direction, but it does absolutely nothing for someone who might be on their butt or who may already be,” she said. declared.

Rent relief has helped over 41,000 ABQ residents

State funds combined with federal funding provided $185.5 million…

ZeroFox Stock: Not All SPACs Are Bad (NASDAQ: ZFOX)



The ZeroFox Holdings (NASDAQ: ZFOX) The SPAC agreement with L&F Acquisition Corp. just closed in August and the stock is already trading well below $10. Not all SPAC deals are awful, with ZeroFox having a strong cybersecurity business model. my investment thesis is neutral on trading stocks at a steep discount to the SPAC price of $10, but the company needs to better explain the update Estimates for FY23.

Finviz Chart

Source: FinViz

Enterprise Cybersecurity SaaS

ZeroFox is a leader in enterprise cybersecurity. The company is focused on external threat protection and response capabilities to protect enterprises against the entire lifecycle of external cyberattacks.

All businesses are in the midst of digital transformations, but these changes expose businesses to external security threats. It’s all in the cloud and accessible via mobile, along with social media and remote working, allowing a business to operate far beyond traditional corporate walls.

ZeroFox uses computer vision and machine learning powered by 20 AI patents to attack the problem at its source. All digital platforms, from social media to e-commerce and digital currencies, are used to transmit malicious payloads.

The company has a blue-chip customer base and forecasts 2022 revenue to reach $150 million and grow to $195 million in 2023. ZeroFox has strong retention rate and over 90% of revenue is SaaS model recurrent.

Financial presentation slide

Source: ZeroFox PSPC presentation

As with any cybersecurity company, ZeroFox is expected to achieve 70% gross margins with strong cash flow going forward. The company remains relatively small, but at least the goal is to be generally cash flow neutral at the start of public life, with a strong cash balance of $270 million.

Along with an SEC filing, ZeroFox lowered the revenue target for 2H’23 to a range of $82-86 million. The company blames the timing of growth investments due to a delay in closing the SPAC deal and the macro environment.

price break

ZeroFox had an initial net worth of $1.3 billion based on 139 million shares outstanding. The EV was closer to just $1.0 billion, and of course those amounts are before including the ~16 million warrants exercisable at $11.50 per share (far out of the money now) .

Deal presentation slide

Source: ZeroFox PSPC presentation

The stock was trading above $10 when the deal closed, but ZeroFox quickly dipped below $5. The stock has rebounded slightly now, but the new price is only worth $850 million for an EV/S multiple of just 3x now.

Unfortunately, many public cybersecurity stocks used by L&F Acquisition in the SPAC presentation of peer stocks fall into similar valuations after the big sell-offs. Okta (OKTA), Quick7 (RPS) and Sustainable assets (TENB) all fell around the multiple EV/S before 4x.

Data by YCharts

As a newly listed company and part of a SPAC deal, the market certainly won’t pay a premium for ZeroFox. The good news, however, is that these stocks are all providing strong values ​​from historic multiples where 10x forward sales were attractive.

Given that ZeroFox just closed the deal in early August and is newly public, investors are sometimes advised to watch the company from afar. The IPO process can cause management teams to lose focus and disrupt operations.

Along with closing the SPAC deal, ZeroFox discussed identifying 5.8 million attacks and escalating nearly 272,000 serious or critical customer incidents. The company saw a 125% increase in external attacks and a 521% growth in phishing attacks during the quarter.

What the company hasn’t provided investors with is updated financials and a full financial picture outside of the revenue forecast update. As ZeroFox provides more details about the upcoming expectations, investors can better judge the financial situation of the cybersecurity company.


The main investor takeaway is that ZeroFox has a compelling investment opportunity, but the company needs to clean up the financial picture before investors can get in on the action. ZeroFox is supportive of the company’s lower FY23 revenue targets, suggesting the stock is too downcast, but a better understanding of plans is needed before investing in this challenging environment.

Global Power Rental Market Report 2022: Top Manufacturers,


Electricity rental market

The global power rental market is expected to grow from $9.25 billion in 2021 to $9.88 billion in 2022 at a compound annual growth rate (CAGR) of 6.83%. The global power rental market is expected to reach $14.02 billion in 2026 at a compound annual growth rate (CAGR) of 9.15%.

The trade research firm offers the Global Electric Leasing Market 2022 report in its research report store. This is the most comprehensive report available on this market and it will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the market size by region and country. It also compares historical and forecast market growth and highlights important trends and strategies that market players may adopt.

Request a FREE SAMPLE COPY of this research study:

The electricity rental market consists of the sale of electricity rental services by entities (organizations, individual merchants and partnerships) which refer to a service that allows the rental of equipment that temporarily provides a main supply or help as needed. Generator sets, load banks, and power distribution systems are typically leased for electricity.

Some key players in the power rental market are Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko, Generac, Kohler, Ashtead Group, Herc Rentals, Shenton, Bredenoord, Sudhir Power, Wagner Equipment, GMMCO Limited and Energyst.

The countries covered by the global electricity rental market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark , Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela , Viet Nam.

Regions covered in the global power rental market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Segmentation of the electricity rental market:
1) By equipment:
Load banks

2) Per application:
Backup power
Base load/continuous power

3) By type of fuel:
Natural gas

See more about the report at https://www.thebusinessresearchcompany.com/report/power-rental-global-market-report

The table of contents of the report includes
1. Summary
2. Characteristics of the electricity rental market
3. Electricity Rental Market Trends and Strategies
4. Impact of COVID-19 on electricity rental
5. Electric Rental Market Size and Growth
28. Major mergers and acquisitions in the power rental market
29. Power Rental Market Future Outlook and Potential Analysis
30. Appendix

This report covers Electric Rental market trends and dynamics in major countries – Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA . The report also includes consumer surveys and various future opportunities for the market.

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Editorial Summary: South Carolina | Charlotte Observer


Post and courier. September 24, 2022.

Editorial: SC lawmakers should help local governments fight short-term rentals

Early last week, the SC Department of Revenue issued a public notice with tax advice to people renting rooms in South Carolina, noting that starting October 1, they must have a retail license and file and pay lodging taxes electronically, just like hotels and motels do. It was a reminder that the short-term rental business continues to grow for better and, at least sometimes, for worse.

Currently, two different types of businesses pay these taxes. Those operating single unit rentals must provide the location address of their rental property on their tax bill, but property management companies and third-party booking sites have been allowed to report lump sums by municipality. A new state law requires these latter businesses to also provide the department with a list of all addresses for which they report sales.

We urge the ministry to share this information with municipalities, many of which continue to struggle to find the right balance between supporting landlords interested in offering short-term rentals – and the tourism benefits they provide – with legitimate local concerns. that many rentals of this type aggravate. housing affordability crisis, erode neighborhood cohesion and create noise, litter and parking issues.

Having additional data from the state on the specific locations of these rentals will help local authorities strike the right balance between letting landlords rent out part or, in some cases, all of their property and ensuring that house neighbors and the wider community are not harmed. affected. It’s a debate that has flared up again not only in coastal towns such as Isle of Palms, Folly Beach and Port Royal, but also in Columbia, Greenville, Spartanburg and Rock Hill.

Several local governments had to invest in the purchase of software to identify short-term rental locations, as not all landlords were prepared to obtain their appropriate licenses and pay accommodation taxes. In Port Royal, for example, the software helped city officials identify more than 100 such units when the city previously knew of only 60 to 65. The city has requested more information from the Department of returned, without success so far. “Their argument is that they don’t have the manpower or the software to track this thing,” City Manager Van Willis tells us, “but if they can do it for Ubers, they can do it for a house that does not move.”

It would be helpful if municipalities could get information about short-term rental locations within their city or town limits without having to spend tax money buying software, says Scott Slatton of the Carolina Municipal Association. from South. We agree, and if businesses have ownership issues, these could be treated the same as business income information, which is reported to the state to calculate taxes and duties. commercial license, but not publicly available.

“From a state perspective, the biggest help cities and counties can get with short-term rentals is getting an inventory of each one. Where are they?” notes Mr. Slatton. “It is first and foremost about ensuring the character and quality of life of our cities and towns. , but that’s not the motivating factor for wanting to know where they are.

While short-term rentals have been around for generations in one form or another, the advent of websites such as Airbnb and VRBO has led to phenomenal growth. Municipalities have responded differently, with a mix of new laws, some more controversial than others. These include hotlines for complaints, guest limits, parking requirements, guest count limits and more. While a state legislator introduced a bill prohibiting cities from banning all short-term rentals in their jurisdiction, we are not aware of any city that has attempted such a move.

But as local debates continue over whether to adopt or improve short-term rental rules – as they most certainly will in the months and years to come – everyone should agree that the first and best step towards a responsible balance of all the interests involved is to obtain reliable data on where rentals take place.


Times and Democrat. September 28, 2022.

Editorial: SC makes progress against road deaths

“To what extent am I exposed to danger? is a question on every American’s mind when they think about day-to-day safety.

Location has a huge impact on people’s safety due to the unique conditions surrounding it, such as road conditions, the likelihood of a mass shooting, or the financial security offered.

It may not be surprising, but a study by marketing agency Top Data shows that drivers and pedestrians in South Carolina are at greater risk than ever. The Safest States in America study – https://topagency.com/report/safest-states-in-america/ – identifies the safest states for transportation and infrastructure, based on analysis of relevant parameters such as road conditions, traffic accident death rates and more.

Drivers in South Carolina are the most likely to put their lives and the lives of others at risk, as the state has one of the worst traffic fatality rates in the nation.

South Carolina ranks 45th overall:

No. 9 – Road Conditions (it may come as a surprise to many with so much focus on improving highways)

No. 49 — Pedestrians killed on the roads

No. 50 — Deaths of car passengers

No. 31 — Condition of the bridges

No. 32 — Condition of dams

The good news is that for at least the first nine months of the year, South Carolina’s roads are “safer” than they were a year ago. The conclusion, unfortunately, is based on fewer road deaths. One is too many.

The number of road deaths in 2022 is over the horrific 730. BUT this total represents over 100 fewer people killed than a year ago at this time. This is not an insignificant number when you put it in actual terms of lives saved and lives lost.

But the news could have been even better. Of the 497 people killed in motor vehicle accidents where seat belts were available, 252 were not fastened. A significant number of those who were killed would be alive today if they had been belted.

Here’s what you need to know via the US Centers for Disease Control and Prevention:

— Seat belts greatly reduce the risk of death and serious injury. For drivers and front passengers, seat belts reduce the risk of death by 45% and the risk of serious injury by 50%.

— Seat belts prevent drivers and passengers from being ejected in an accident. People who don’t wear a seat belt are 30 times more likely to be ejected from a vehicle in an accident. More than 3 out of 4 people ejected in a fatal accident die from their injuries.

— In just one year, deaths and injuries to drivers and passengers cost $70 billion in lost medical and work expenses.

These facts show that increasing seat belt use is key to further reducing injuries and saving lives. Obey the law and fasten your seatbelt. Do it for yourself and those you love.

South Carolina is making progress on road safety — but the news isn’t nearly good enough.


This story was originally published September 29, 2022 6:35 p.m.

This Aurora resident was illegally towed and charged $500. With the help of a new Colorado law, she got her money back


She assumed someone stole it. It wasn’t until she spoke with a rental agent that she found out a company called Wyatt’s Towing had taken it overnight. The whole situation confused Bryant. She had a parking permit posted. It was not parked in an escape route. She wasn’t blocking anyone else’s car.

The tow put a damper on his plans to move, and the cost to retrieve him cost $470, plus tax.

“I’m lucky financially that it didn’t put me on edge in any way,” Bryant said. “I was just bored and angry and wanted my car and my money back.”

Protections for everyday drivers

Thousands of people have their cars towed in Colorado every year.

But Bryant’s episode was unique. She was one of the first Coloradans to have her car towed after a new law was implemented to protect drivers from predatory towing on private property. The “Towing Bill of Rights” legislation was passed in the last legislative session and came into effect on August 10.

The law makes a number of changes to state rules that deter businesses from removing cars from residential areas like apartment complexes, mobile home parks and neighborhoods. For example, tours must give 24 hours notice before picking up vehicles in most cases.

“There are good players in the towing industry, and there are others who are just predators,” said Rep. Naquetta Ricks, Democrat and co-sponsor. “They’ll just drive around apartment complexes looking for an excuse to take your car. That’s what we’re looking for.

Other new rules include the following:

  • Companies can no longer tow solely for expired registrations and plates, except by order of law enforcement.
  • Companies must release a vehicle, free of charge and upon request, if the vehicle is still on private property when an owner discontinues a tow.
  • Tow companies must release towed motor vehicles once they have received 15% of the overall charge, up to $60.
  • Companies must release the contents of towed vehicles from private property upon request, even if you cannot pay to retrieve your car.

The law also gives more teeth to state regulators overseeing the towing industry, including an additional $100,000 for the Colorado Public Utilities Commission. This money will be used to hire an additional full-time investigator to investigate consumer complaints. The PUC estimates to obtain more than 400 complaints of this type each yearwhose number increases every year.

Bryant, who works as an analyst at a fintech company, found out about the law after researching it online and made it his personal mission to get her car back and get her $470 back. She suspected that Wyatt had violated at least one of the new state rules.

She wanted to share her experience to help other residents understand their rights, she said.

“It can happen to anyone,” Bryant said. “And I realize that if I hadn’t been in the financial situation that I am currently in, my story could have been much worse.”

Search and rescue

After realizing her car had been towed, Bryant was taken by her mother to the local Wyatts Towing car pound.

There she spoke with a receptionist who told her her car had been towed due to an expired parking permit, Bryant said. This reasoning didn’t make sense to Bryant, because she had just bought a permit from her property manager and had it hung on her rear view mirror.

“So I paid with a credit card and got a receipt from Wyatt with the false statement that I didn’t have a license,” she said. “They let me into the tow yard and before I touched my car I pulled out my phone.”

She recorded video of herself zooming in on the front windshield of her Kia, noting the yellow parking permit hanging prominently. In the video, moving boxes and an overturned houseplant are still visible on the passenger seat.

After taking the video, Bryant paid the $470 towing fee, collected his keys, and drove home. There she began to gather the facts of her case as a personal investigator. That night, she wrote up an email of the incident with her name, address and a timeline of her towing incident and submitted it through a portal on the Public Utilities Commission website. website.

She also sent a copy of her complaint to an email address where the PUC also accepts complaints against towing companies. She attached copies of her receipts from Wyatt’s and a link to her cellphone video of her valid license in the complaint. She also copied her apartment complex and local state lawmakers.

Then she waited.

Hart Van Denburg/CPR News
Felicia Jan Bryant got her money and her car back after it was towed by Wyatt’s Towing outside her Aurora apartment complex. She was able to take advantage of a new state law aimed at curbing predatory towing practices, which is administered by the Department of Regulatory Agencies.


Bryant’s complaint kicked off a day of email correspondence between state investigators and Wyatt.

A PUC staff member contacted the towing company. In their request, they asked for an explanation as to why Bryant’s car was towed.

That same day, a rental agent at Bryant’s apartment complex also contacted Wyatt via email, asking for more information.

After looking into the matter, the company realized that one of its drivers had mistaken his parking permit for a fake and towed it to the spot. Wyatt immediately refunded his credit card charges, said Trevor Forbes, CEO of Wyatt.

“We are truly sorry for the inconvenience Ms. Bryant experienced and have made operational changes to prevent this specific error from occurring in the future,” he said.

Bryant believes Wyatt violated the Towing Bill of Rights’ new 24-hour notice rule. But the company disagrees, Forbes said, because the law allows for certain exceptions, including when cars are parked in handicapped spaces, fire lanes or in a location that requires a permit for residents.

Public parking spaces, such as street meters, are also not protected by the new rules, he said.

“These circumstances are very significant,” Forbes said. “People think in Colorado now you get free parking anywhere for 24 hours and it doesn’t matter. And that’s not true.

PUC representatives declined to discuss the details of Bryant’s complaint and the legality of the tow, saying it was still being reviewed by investigators. The agency referred CPR News to a page on his website about the new rules regarding towing on private property.

Two days after Bryant filed her complaint, a PUC staff member called her to let her know that they had spoken with a representative from Wyatt’s Towing. She told Bryant that the company had admitted making a mistake and would refund Bryant’s money in full.

“I didn’t expect to have a cure, especially so fast,” Bryant said. “So that was great.”

His advice to anyone who has been towed is to keep a record of your communication with your towing company on paper and file a complaint as soon as you get your vehicle back.

“Do it while it’s still fresh in your mind,” Bryant said. “Get it in the eyes of the people who can do something with it.”

Another new process

It’s unclear how many cases like Bryant’s the PUC has investigated since the new towing law took effect in August. The commission tracks consumer complaints, but the latest available data is from July this year.

“The regulations are so new that there hasn’t been much time to see a trend,” said Gail Connors, media relations manager for PUC.

The committee updated his website to better educate consumers about the new law, including advice on how to file a complaint. A list of exceptions to the new 24 hour notice rule is also posted there.

If you still believe your car was towed illegally, Connors suggests filing a complaint with “very specific” details about your situation and why you believe it was towed illegally.

Other details to share include the following, according to Connors:

  • What led to the towing?
  • Have you already collected your vehicle?
  • Did you park in a parking lot that required a permit?

The new law was designed to protect low-income Coloradans who have historically been most at risk of predatory towing. That’s who will likely benefit the most from the changes, said co-sponsor Ricks.

“For some people living on the fringes, $400 or $500 is the difference between daycare, rent, or food,” she said. “So we really want to make sure that we all live in this place so that we can co-exist with the tow truck companies and the drivers can feel safe when they park their cars and they’re not breaking the law. “

Prospa co-founder looks back on 10 years of online finance


Beau Bertoli and Greg Moshal founded Prospa in 2012. The company, which celebrates its 10th anniversary this year, was born out of personal frustration – Bertoli and Moshal have run businesses themselves and have experienced the difficulty in accessing capital. Prospa’s idea was to make financing accessible and easy for small and medium-sized businesses.

According to current estimates, Bertoli says, up to $20 billion a year is needed by small businesses, and that’s just not being funded. Big banks are great at handling personal banking and big business banking, says Bertoli, “but when your local coffee shop needs $14,000 because its air conditioning broke or a plumber submits a tender for a builder, then wins and needs $20,000 in materials to start and complete the job, there’s no real solution for that”.

Prospa has experienced significant growth since its founding. In 2016, it topped the Smart50 list, which Bertoli said affirmed Prospa’s business model and reassured the two founders that their company was on the right track. Since his victory, his turnover has increased tenfold and his workforce has grown to around 300 people throughout Australia and New Zealand. Bertoli reflects on why he entered the Smart50 and how online finance has changed and stayed the same over Prospa’s 10 years.

Why did Prospa enter the Smart50?

In 2015 and 2016, we were looking for ways, including Smart50, to get that external recognition for what we were doing and what we were building as a business. Although the Smart50 looks specifically at revenue growth, it is a much-loved publication, reaching out to many of our target customers – obviously businesses – across Australia. We really wanted to compare ourselves to other companies and ask ourselves “how are we doing? »

We never thought we would win, it was quite a surprise in 2016. Obviously we knew our business was growing fast, but we didn’t know we would be the fastest, so to speak. And it was really wonderful. We had seen previous brands and companies that had won the Smart50, or even just made the list; it was quite an honor for a company.

And it creates a really good talking point with a lot of different stakeholders. For example, future employees, you know? If they hear you’re on the Smart50, or a particular winner, that’s a much appreciated achievement.

Investors, they care about the companies they invest in over other fast growing companies. So again, us being one of the leading leading companies in Australia, it’s opened up a whole bunch of conversations with investors, about “how do I get in and become an investor in these fast growing companies?”

It also helps to meet other companies. Fast growing companies face very similar challenges, they are not easy to manage, there can be a lot of chaos and a lot of changes going on within these companies. We knew as we walked in, and especially if we were up there in the upper echelons, we might run into an elder, if you will, from other companies. It’s always great for founders because you connect and get to know other people running businesses who are facing similar challenges. You can learn from each other, you can share ideas and you can create a small network.

So that was the impetus, I guess. As mentioned, we didn’t think we would win and be the fastest growing, but it was a wonderful surprise for us, and again a great affirmation of the business model we chose, the challenge or of the problem space that we were trying to solve, clearly it was very big, and it was really successful from what we were doing, and I think winning gave us a kind of really good flare because ‘we we’re on the right track, so let’s continue, let’s double down on the business strategy”.

Things always change quickly for small businesses. Have you noticed any differences in your customers, or your type of customers and their needs? Does this change your approach at all?

I would describe the need as…it hasn’t changed. The need for small business owners to access capital to run their business, this problem existed when we created commerce, and it will exist for a thousand years. It is a permanent problem.

It’s one thing we love about the model we’ve chosen and the space we’re playing in. It’s a permanent problem, it’s never going to go away. But access or delivery of this product experience? This has changed.

When we started the company, I know it sounds strange, but things like the cloud were very nascent technologies. Obviously businesses have been online for a while but the way e-commerce worked and the way in particular the willingness of people to buy products online was far from what it is today. We were trying to be an online business, we were trying to create a more digital experience. In some ways, we had a product experience that was ahead of what the market was ready for. That has definitely changed.

In the fintech space, in the first five years or so of our business, there was almost this unbundling from a bank. So different fintechs have focused on very specific product categories within a bank, and you could take 100 of them, and that’s how you build the bank. Well, what’s happening right now is actually a product experience aggregation, because the customer says, “Sure, I can get loans from Prospa, but do I really want to get a credit card from someone else, and a bank account here, and maybe a payment platform there?” They want to have it all in one.

So there’s almost this product convergence happening right now. And that’s certainly something we’re trying to lead at Prospa. Since we won Smart50, a number of things have happened, actually. In terms of the customer experience, the way customers buy and search for our products and the categories we’re in, that’s definitely evolved. We have been able to increase our income by 10 times since we also won Smart50. Back then we were making about $20 million in revenue, now we’re north of $200 million a year. This shows the breadth and depth of the problem we are tackling. The fact that we can get this far in a very short time, again, just illustrates the demand and the fact that there are these companies, millions of them, that are underserved by the traditional system.

From a broader product point of view, we have definitely started our business in this world of “access to capital”, but we have now extended and broadened our offer. We’re now into product categories like B2B payments and how businesses make payments. We review transactional accounts and help businesses with things like receiving money as well as making payments. We also look at things like expense management and invoicing, and how we can really help a business owner with almost day-to-day management within their business. So a lot has changed in how a business owner researches the products that we choose to play with, but the basic need, which hasn’t changed at all in 10 years, and I don’t think that will change, certainly not in the near future.

What is the outlook for small businesses over the next two years?

Certainly, from an economic point of view, we see all the same economic data as everyone else in the market. It definitely looks like it’s going to be a bit more turbulent over the next 6-12 months. But I have to say, small business owners have just been through COVID-19. And, you couldn’t create a tougher set of circumstances for small business owners, with continued lockdowns, restrictions, altered ability to operate, and supply chain issues. Everyone talks about inflation now but if you were a business owner 12 months ago you still had supply chain issues it wasn’t going away labor issues they were very real a year ago. So one thing that I think the pandemic has taught us is that small business owners are incredibly resilient and also adapt in the short term. They can make changes to their business and operations. We therefore look to the future with great optimism.

We are certainly aware of some of the economic challenges that have arisen. The RBA is raising rates, and that’s trickling down to the economy, inflation is too high, everyone wants to see that come down. The labor market is very tight, and we need to find ways to broaden the base of employable Australians. So there are a lot of challenges, of course, but I think business owners are in good shape and are going to fight for the next 12 months and do very well.

Do you want to join Prospa and a network of Smart50 alumni, get the recognition your business needs and compare yourself to other successful SMEs? It’s not too late to take part in the Smart50 Awards 2022.

Real estate industry leaders predict a gloomy 2023


While peering through an imaginary crystal ball, real estate industry leaders predict cloudy skies for the early 2023 residential market. In a recent webinar hosted by the Hudson Gateway Association of Realtors in the Greater New York, a National Association of Realtors (NAR) economist, along with a panel of expert brokers, weighed in on the state of the market for the next six months.

Nadia Evangelou, NAR’s senior economist and forecasting director, said inflation is one of the main triggers for what’s happening in the housing market. “In August, for example, inflation rose much faster than expected, reaching 8.3%,” she noted. “Combined with higher mortgage rates, rising costs for gas, groceries and other goods are now forcing some people out of the market.”

Using the New York City subway real estate market as an example, Evangelou said the average monthly mortgage payment in September 2021 was $2,100, compared to the average September 2022 payment of $3,360 per month. “It’s almost $1,300 more every month,” she said. “Mortgage rates are significantly higher than in previous years, and that’s definitely hurting homebuyers, many of whom are paying up to 60% more.” The NAR estimates that more than 1.4 million New York City subway households have been shut out of the market this year.

Currently, rates are above 6% and Evangelou predicts that they will remain in this range until the end of 2022. “Although there has been a decline in home sales, I think prices will continue to rise. increase, but at a slower pace,” she said, explaining that housing inventory is still falling short nationally.

In terms of affordability, the outlook is still bleak for the near term future. “Households need to earn about $200,000 a year to be able to afford half of the enrollment in the New York metro area,” she revealed.

While 2021 was the best year in the housing market across the country, this year home sales have continued to decline for the past seven months. “We are certainly seeing a slowdown in sales, but not in prices,” Evangelou explained. “Our data shows home prices rose 7.7% nationally for the second month in a row. Due to the severe housing shortage across the country, prices will tend to remain stable as there is no there is not enough supply.

Joseph Rand, panelist and chief creative officer at Howard Hanna/Rand Realty in Nanuet, New York, agreed. “We hit a record high in 2021, but you can’t really compare this year to 2020 and 2021 when sales exploded,” he said. “I think we need to compare current sales to markets in 2019 or 2018, and in this case home sales are up in most areas of the Hudson Valley.”

Rand was hesitant to use the word “recession,” however. “I don’t think we’re going to see anything like what we saw in 2008,” he added. Fellow panelist Jonathan Miller, president and CEO of Miller, Samuel Inc., Manhattan real estate appraisers and consultants, agrees.

“There’s really no way to accurately predict whether a recession is coming — it all depends on how long the Fed keeps raising rates,” he explained. “Obviously the momentum has been taken out of the mortgage sector due to the doubling of rates, but that, in turn, is pushing people into the rental market.”

Shifts in the New York Metro Area

Yet in the United States, the number of households has increased by 7% over the past year, according to recent data from the NAR. However, some major metropolitan areas like New York lag behind, at just 6%. In New York, Queens and Kings counties recorded the fastest growth in the past decade, at 8.5%, and New York County (Manhattan), at 8.3%.

Conversely, compared to the rest of the country, the New York metropolitan area has the fifth largest annual population decline. Nationally, the NAR found that 47% of the moving population arrived in urban areas, but 53% migrated to suburban or rural areas. “It has a lot to do with the shift to remote working, which is five times bigger than in 2019,” Evangelou added. “Those moving to the suburbs are also looking for bigger homes.” In 2019, the average single-family home was 1,580 square feet, but in 2022 the national average is 1,900 square feet.

Currently, there are some 3.47 million renters in the New York metropolitan area alone, and millions more across the country. While married households may do better on two incomes, NAR statistics indicate that only one in three renters are married. “With high rents, it becomes difficult for single people to save money to eventually buy a house,” she noted.

Panelist Gabe Pasquale, vice president of New Development, Christie’s International, NY Metro, thinks the answer may lie in the development of single-family rental communities. “We haven’t seen a lot of this in the northeast, but it seems to be growing in other parts of the country,” he said. “It will give younger people a new opportunity to have a single-family home. Many millennials are now looking to change their urban lifestyle without being locked into buying something. »

In White Plains, New York, where average rents range from $1,800 to $2,200 for a bedroom, Pasquale said the situation doesn’t give people much incentive. “If they keep renting at these prices, they won’t be able to save,” he added.

Miller admitted that if some rents stabilize, he doesn’t expect them to fall. “It’s hard to imagine rents dropping to more affordable levels, especially when the rental market is already very tight,” he said. “I think the single-family rental market and the new lease-to-own offerings will be big drivers of growth.”

Chintan Trivedi, panelist and real estate broker at RE/MAX In The City in the Bronx, also thinks the rental market will remain robust. “I think millennials are sitting on the sidelines and not wanting to commit to a 30-year mortgage at this point,” he said.

Owners don’t want to sell

On the sell side, Rand’s concern is with sellers who may not have the means to sell. “You’re usually going to spend more money when you’re looking to upgrade your home, but now, factoring in the interest charges, many sellers have such good rates they don’t want to give up their current home,” he said. he declared. “I think we need to find more creative ways for today’s sellers to sell.”

As for the future, Rand warns sellers and buyers against panicking. “We’re not going to look back to 2008 when people who didn’t have a business to buy a house could get a loan. We have no bad debts or foreclosure boom today, and prices are still up 30% from two years ago,” he said.

Miller echoed Rand’s sentiments. “Lenders aren’t losing their minds and mortgage underwriting terms are much more conservative now,” he added. While Pasquale thinks the fourth quarter of 2022 may not be great, he said the fact that there is still a housing shortage will help stabilize prices. “The fourth quarter is likely to be the softest of 2022,” Trevidi added, “but I also think inventory will rise by the spring of next year.”

“At the end of the day, buyers can’t bid 20% lower than ask and expect to get it, but sellers shouldn’t reject a decent offer,” Rand noted.

Marie Prenon


Mary T. Prenon covers real estate and business. She has been a writer and journalist for over 25 years for various print and broadcast media in New York.

Hornell housing expansion at The Residences will add dozens of units


When Eric Basset first visited Hornell to research locations for potential property development, he was struck by the limited options available to tenants in town.

This visit took place more than five years ago, long before a flurry of projects began adding hundreds of new units to Hornell’s housing stock.

“We looked at it and said ‘Gee, why isn’t there anything here?’ We dug a little deeper and realized that it was justified and necessary, and that it would benefit the people of Hornell,” Basset recalled. “Why don’t they deserve to have some of these types of options? We decided to make the investment, and so far it has been great.

The Bassett groupThe project, The Residences, opened in 2018 and currently offers 63 two-bedroom apartments across three buildings on Residence Road.

The project, however, is just getting started.

A total of 84 additional units are in the pipeline for The Residences. Delays related to the COVID-19 pandemic and associated supply shortages slowed the project’s original schedule, but Basset is now moving forward with plans to more than double its footprint at Hornell.

Phase 2 of the three-phase development is currently taking shape. The exterior of a fourth building is nearing completion and interior work is well underway. The new building and its 21 units are expected to open to tenants in the spring of 2023. The platform for a nearby building is already in place, and construction is expected to begin this winter before another possible start in 2023.

“Our goal is to have one (building) ready for occupancy by spring 23 and then the other hopefully by next winter or even sooner,” Basset said. “Once things start to normalize again and we start to get back into the rhythm like we were before, I think it will go faster and faster.”

Basset plans to erect two more buildings in addition to the pair currently under construction. When this Phase 3 effort is finally complete, residences will then comprise 147 units spread across seven buildings, creating a major housing hub in the far north of the city.

Plans in place for the old Tribune building:Here’s how a developer envisions the space in downtown Hornell

Local government:Who is Lita Brown, Hornell’s new representative?

What you need to know about Les Residences

An interior view of a two-bedroom, two-bathroom unit at The Residences in Hornell.  The Basset group plans to eventually offer 147 housing units spread over seven buildings.

Each building at The Residences contains 21 two-bedroom, two-bathroom apartments that feature a minimum living space of 1,000 square feet and an outdoor patio. Five different floor plans are offered, with rents ranging from $1,250 to $1,500 depending on unit size. Fiber internet, cable TV and garbage disposal services are included with every rental.

The Basset Group found two-bedroom units to be the “sweet spot” for the market, providing options for small families, couples and single residents.

“For the professional, they have an extra room for an occasional visitor or a home office,” Basset said. “The culture has changed dramatically since COVID and there are a lot more people working remotely. We have a good square footage and it seems to be working well.

An interior view of a two-bedroom, two-bathroom unit at The Residences in Hornell.  The Basset group plans to eventually offer 147 housing units spread over seven buildings.

Other amenities include central air conditioning, dishwashers, stainless steel appliances, electric washer and dryer hookups, keyless entry, intercom, and building monitoring system. Each building is constructed with 19 indoor garages, 17 single garages and two double garages, available for rental.

Basset has at least one staff member on hand throughout the day to handle any issues that may arise. The company’s long-term plan for The Residences includes constructing a central office building to house staff and provide a drop-off point for rent payments.

The development sits on a lightly traveled road in the Arkport Central School District bordered mostly by farmland.

After:When Hornell’s Bryant School apartments open, how much will rent cost

Where The Residences fits into Hornell’s property boom

The view of a neighboring building from a patio on the third floor of The Residences, a Hornell apartment complex that is adding two more buildings in 2023.

Hornell’s housing boom over the past five years dates back to a 2016 study that found the city needed to add several hundred units to keep up with demand as Alstom and other employers ramped up operations.

The Basset Group was among the first investors to commit to a large scale project in Hornell and collectively The Residences will become the largest new housing development in the town when the new buildings come online. An apartment complex similar to Fairlawn Hills was opened in 2018 by Riedman Companies.

The demand for housing has also resulted in the rehabilitation of historic buildings in the city. Grove Realty Park opened The Lofts at Rockland Silk Mill in 2021, transforming the former Marion Rohr building into 23 apartments. Park Grove also has launched a project to transform the former Bryant School building into 39 apartments.

A number of smaller-scale housing projects have been selected for funding from Hornell’s $10 million prize for downtown revitalization, and a Rochester developer recently unveiled plans to build 25-30 apartments in an adaptive reuse of the former Evening Tribune building.

Residences include garage access for residents.  The Hornell Apartment Complex is adding two more buildings in 2023.

While The Residences, Fairlawn Hills and The Lofts all offer market-priced housing, the Bryant School Apartments will provide limited “workforce housing” to residents earning up to 60% of the County’s median income. Steuben.

“These projects really show the growth we’re seeing at Hornell,” Mayor John Buckley said. “Housing certainly plays a central role in that equation, especially when you see Alstom growing at the rate they are growing and with the success of TTA. Strobels has grown exponentially over the years. With all these growing businesses , people come here and they need a place to live in. Basset answers that call.

Basset said the composition of tenants at The Residences included senior citizens who were downsizing in large homes, young professionals employed in local industry, professors from Alfred University and nearby Alfred State College. , and retirees newly arrived in the community.

“It brings people to the area who might not normally have lived there. This could translate into additional benefits for local businesses,” Basset said. “We still have a lot of our original tenants. People love that. Some people are just passing through and take jobs in the area for a year or two. It’s a great mix of tenants.

Chris Potter can be reached at [email protected] or on Twitter @ChrisPotter413. To get unlimited access to the latest news, please subscribe or activate your digital account today.

World Bank pledges $2 billion for flood-ravaged Pakistan


ISLAMABAD (AP) — The World Bank said it would provide about $2 billion in aid to Pakistan, ravaged by floods that killed more than 1,600 people this year, the largest aid pledge yet. .

Unprecedented monsoon rains and flooding this year – which many experts attribute to climate change – have also injured some 13,000 people across the country since mid-June. The floods displaced millions of people and destroyed crops, half a million homes and thousands of kilometers (miles) of roads.

World Bank Vice President for South Asia Martin Raiser announced the engagement in a statement overnight after wrapping up his first official visit to the country on Saturday.

“We are deeply saddened by the loss of lives and livelihoods due to the devastating floods and we are working with the federal and provincial governments to provide immediate relief to those most affected,” he said.

Raiser met with federal ministers and the chief minister of southern Sindh province, the worst affected region, where he visited the hard-hit Dadu district.

Thousands of makeshift medical camps for flood survivors have been set up in the province, where the National Disaster Management Authority said outbreaks of typhoid, malaria and dengue fever had killed at least 300 people.

The death toll prompted the World Health Organization last week to sound the alarm about a “second disaster” as doctors on the ground rushed to battle outbreaks.

“In immediate response, we are reallocating funds from existing World Bank-funded projects to meet urgent health, food, shelter, rehabilitation and cash transfer needs,” Raiser said.

The World Bank agreed last week during a meeting with Prime Minister Shahbaz Sharif on the sidelines of the United Nations General Assembly to provide $850 million in aid to flood victims in Pakistan. The $2 billion figure includes that amount.

Raiser said the bank was working with provincial authorities to begin repairing infrastructure and housing as soon as possible and “restoring livelihoods, and to help build Pakistan’s resilience to climate-related risks”. We’re looking at about $2 billion in funding for that. »

Over the past two months, Pakistan has sent nearly 10,000 doctors, nurses and other medical personnel to care for survivors in Sindh province.

6 Types of Tech Stocks I’m Loving Right Now…and 4 I’m Wary of


Most tech stocks are now trading well below their 2021 highs, but I think only certain types of tech companies are really good deals.

Here’s an overview of the types of tech companies that I believe offer attractive medium to long-term risk/reward at current levels, and which I think are best avoided. As always, investors are advised to do their own research before taking a position.

What I like:

1. Cheap chip vendors with limited exposure to consumer hardware

Shares of companies such as Onsemi (ON), NXP Semiconductors (NXPI) and STMicroelectronics (STM) have plunged to levels that leave them sporting double-digit P/Es, although they still see fairly good demand from core automotive and industrial end markets and are poised to benefit from long-term trends such as EV/ADAS adoption, factory automation and investments in IoT hardware. While these companies may see some customer inventory corrections, the current market pessimism towards them seems overdone.

Similarly, high-margin fabless chip vendors such as Advanced Micro Devices (AMD) and Marvell Technology (MRVL) have seen their forward P/Es drop to mid-teen levels, even as they take shares of competitors and expect to see strong demand from US cloud giants (the proverbial hyperscalers) will continue through 2023.

2. Inexpensive chip vendors with relatively low memory exposure

Companies such as Applied Materials (AMAT) and KLA (KLAC) are now also posting double-digit P/Es, although they remain constrained by supply for now and have signaled that demand will remain strong in 2023.

While weaker demand is expected from memory manufacturers facing significant DRAM and NAND flash memory price declines, this should be more than offset by strong demand coming from healthy demand from foundries ( contract manufacturers) and logic chip manufacturers who constitute a solid majority. sales from companies like Applied and KLA. Additionally, many of these companies are aggressively buying back their shares.

3. Cheap online ad games with unique services/platforms

Thanks in large part to recession fears, companies such as Digital Turbine (APPS) and Perion Network (PERI) are posting double-digit P/Es. This is despite the fact that companies benefit in the long term from advertising dollars shifting from offline to digital channels and have differentiated solutions in key markets – for example, Digital Turbine’s SingleTap platform to promote and enable installs. quick apps on Android devices. without needing to rely on an app store or Perion’s SORT platform to deliver targeted ads without the need for tracking cookies.

If the United States is not expected to enter a truly major recession – and I am cautiously optimistic that we will not, given the state of the labor market and consumer balance sheets /businesses – the risk/benefits of such businesses look pretty good here.

4. Cheap and under-tracked small-cap growth stocks

Thanks in part to the fact that many growth and momentum-oriented investors focus most or all of their attention on large caps, a number of small-cap growth stocks are now available at selling multiples. and/or historically low profits. While not without risk, small cap growth arguably presents great opportunities to swing for the fences at this time.

I wrote about a few small cap growth stocks I like in late August.

5. Cloud software companies beaten with market-leading products

While I’m wary of some popular cloud software stocks (more on that shortly), I think companies with market-leading offerings that trade at deep discounts compared to the sales and billing multiples ‘they usually sported from 2017 to 2019 are worth a look. Companies such as Salesforce.com (CRM), Elastic (ESTC) and Okta (OKTA) come to mind.

Reasons to be cautiously optimistic about these companies (apart from their valuations): Spending on software and cloud services remains a priority/growth area for many companies and (although weaknesses were seen in some regions and certain verticals) earnings reports and conference commentary from major software companies have generally been better than expected over the past two months.

6. 3 out of 5 tech giants

Alphabet (GOOGL), Amazon.com (AMZN), and Microsoft (MSFT) all seem fairly reasonably priced at these levels, given demand trends and their competitive positions.

Due to recession fears, Alphabet has a GAAP forward P/E of just 17, despite its Google Cloud and Other Bets units still weighing significantly on its results. Microsoft’s GAAP forward P/E is 23, which isn’t exactly cheap, but pretty reasonable given the company’s revenue/bookings growth and the sustainability of its core software and of its cloud franchises. And it can be argued that a solid majority of Amazon’s $1.15 trillion market capitalization is now covered by AWS, which (based on FactSet’s consensus estimate) is expected to see a 32% increase in revenue. % this year to reach $82.3 billion and still sees backlog growth far outpacing revenue growth.

(What about Apple (AAPL) and Meta platforms (META) ? I think Apple’s long-term story is still intact, but would prefer a bigger margin for error than what its stock currently offers, especially given the potential headwinds in China and Europe. Meta is cheap enough, but current trends in user engagement, ad sales, and investment look worrisome, as do huge losses and uncertain gains for Meta’s Reality Labs unit.)

What I do not like :

1. Tiered Cloud Software Inventories

Although many cloud software multiples are now quite reasonable, a handful of popular high-growth companies still have forward sales and billing multiples in the 1990s or higher. Consider companies like Cloudflare (NET), Snowflake (SNOW), and Datadog (DDOG).

Soaring interest rates/Treasury yields have particularly hurt valuations of companies like these, as the lion’s share of future cash flows that investors are paying for are expected to arrive several years from now. These cash flows must now be discounted at much higher rates than before.

2. Highly Unprofitable/Speculative EV, AV and Clean Energy Games

Much more so than cloud software, which had a lot of good companies just overvalued, the EV/clean energy and autonomous driving/trucking spaces gave us a lot of Dot-com bubble-like excess. Plus, thanks in part to recent short presses, a lot of that foam still hasn’t washed out.

Remarkably, Rivian (RIVN), Lucid (LCID) and Plug Power (PLUG) – which still have some way to go before becoming profitable – still have over $65 billion in total net worth. Autonomous trucking games such as Aurora Innovation (AUR) and TuSimple Holdings (TSP) also still seem to be highly valued given their cash burn and all the competition they face, as do some LIDAR vendors.

3. Fintechs making subprime loans and/or operating in crowded markets

High interest rates increase financing costs for units like Affirm (AFRM), Upstart (UPST) and Block’s (SQ) Klarna, just as high inflation weighs on discretionary spending by low-income consumers who represent a large part of their clientele.

And looking more broadly at the fintech space, a shake-up seems inevitable after years of rampant funding activity that has led to a number of payments and lending areas being overwhelmed by competition. Some larger fintechs with strong network effects may well weather the storm, as may some point-of-sale (POS) platform providers who benefit from higher travel/hospitality spending. But things could go wrong elsewhere.

4. Most mainstream enterprise hardware vendors

Unlike most other tech companies I’m wary of, traditional enterprise hardware vendors such as HP (HPQ), Hewlett-Packard Enterprise (HPE), and Dell (DELL) typically post low P/Es. But they also feel like value traps in an environment like this.

Public cloud adoption remains a long-term headwind for server and storage sales in on-premises enterprise environments, and IT spend surveys have fairly consistently shown that on-premises hardware is one of the first things to see spending cuts during a macro downturn. Additionally, the delayed ramp-up of Intel’s next-generation server CPU (INTC) platform (Sapphire Rapids) is expected to be a near-term headwind for enterprise server sales.

(AMD, GOOGL, MSFT, AMZN and AAPL are holdings in the Member Club Action Alerts PLUS . Want to be alerted before AAP buys or sells these stocks? Learn more now. )

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Short term rentals may be eligible for the promotion | Local company


The short term rental industry has seen a substantial increase in popularity over the past decade.

Primarily due to home-sharing platforms such as Airbnb, the availability of convenient online home-sharing options has increased around the world, including a huge increase in Stillwater.

Many consider that the best feature of a short-term rental is the privacy it offers the traveling public. There is no need to stay in the one-room enclosure or share walls with strangers.

Cristy Morrison is Executive Director of Visit Stillwater.

Stillwater is currently home to eighteen hotel properties with a total inventory of 1,406 rooms. The University Inn and Suites is scheduled to reopen as Baymont by Wyndham in fall 2022 with an inventory of 115 rooms, bringing the total inventory to 1,521.

The total number of short-term rental listings varies from month to month and has ranged from 127 to 140 short-term rentals over the past three months.

Short-term rental properties that collect local tourist tax and local, county, and state sales tax are eligible for Visit Stillwater promotional services.

If you are listed only through Airbnb, or if we receive a copy of your sales tax permit from the Oklahoma Tax Commission, we will include your short-term rental(s) on our website under “Accommodations”.

You will receive:

  • Website presence: VisitStillwaterOK.org
  • Link to your Airbnb or website to book your property
  • Your favorite photo to highlight your ad
  • Inclusion in the photo header on the ‘Cottages and Homes’ page if your guests post photos and use #VisitStillwater
  • Promotion for short-term rentals is included in 100,000 copies of our annual Stillwater guide to the local scene and directed to VisitStillwaterOK.org listings
  • Social media posts and/or stories referencing accommodation options
  • Inclusion in the Visit Stillwater e-newsletter
  • Quarterly e-newsletter to Stillwater Lodging Industry Partners
  • Opportunity to appear on TV-31’s “The Morning Edition”
  • Space to distribute a promotional piece in our 24/7 tourist information center

VRBO currently does not collect local tourist tax or local, county, and state taxes in Oklahoma. Until they align with and support our local and national tourism development efforts, we will not promote their platform. Properties that rent through VRBO must show a copy of their Oklahoma Tax Commission sales tax permit and have their tax rebates verified to be promoted.

Email [email protected] if you have any questions or to list your short term rental.

For the latest and most up-to-date information about the Stillwater hospitality industry, visit VisitStillwater.org and follow Visit Stillwater on Facebook, Instagram and Twitter at @VisitStillwater. Cristy Morrison, President and CEO of Visit Stillwater, can be reached at [email protected] or by calling 405-743-3697.

HDP’s 16th Annual Wheels-N-Deals Car Show is scheduled for Saturday; Post Chamber of Commerce BBQ Smackdown Saturday at City Hall | New


Downtown Poteau will be a hot spot on Saturday as Historic Downtown Poteau hosts its 16th annual Wheels-N-Deals car show along Dewey Avenue. Registration will begin at 8 a.m., the show itself at 10 a.m., and the awards ceremony to end the event at 2 p.m.

“We have 12 classes for cars and trucks and 20 classes for motorcycles,” HDP acting executive director Kim Wilson told the Poteau Kiwanis Club at the local civic organization’s weekly meeting Thursday after- noon at Western Sizzlin.

Wall Street opens lower, heading for another weekly loss


Stocks open lower on Wall Street as traders worry about slowing global economic growth amid a global effort to fight inflation. The S&P 500 index was down 1.4% at the start, as was the Nasdaq composite. The Dow Jones Industrial Average fell a little less. Treasury yields, which affect rates on mortgages and other types of loans, have held at multi-year highs. European markets also fell. Yields on UK government bonds rose after the new UK government announced a sweeping plan of tax cuts in an effort to shore up that country’s economy. Oil prices have fallen sharply.

THIS IS A BREAKING NEWS UPDATE. AP’s previous story follows below.

Wall Street headed for another day of losses early Friday after further rate hikes by the Federal Reserve and other central banks raised fears of a possible global recession and sent oil prices to their lowest level since the first days of 2022.

Dow Jones Industrial Average futures fell 1.1% and S&P 500 futures fell 1.2%. Barring a wild swing, major US indices are poised to end the week with losses for the fourth time in five weeks.

Oil prices fell 3%, threatening to fall below $80 a barrel for the first time since early January.

Central banks in Britain, Switzerland, Turkey and the Philippines all hiked interest rates after the Fed raised its key rate on Wednesday for the fifth time this year and signaled further hikes were in store. Classes.

“Global equities are struggling as the world expects soaring rates to trigger a much earlier and possibly severe global recession,” Oanda’s Edward Moya said in a report.

Britain’s new government announced a sweeping plan of tax cuts on Friday which it said would be funded by borrowing and revenue generated from anticipated growth, sending the pound plummeting below $1.12 for the first time since 1985.

Economists have expressed concern that government policies will lead to a sharp increase in borrowing, undermining confidence in the UK economy.

Also on Friday, Vietnam’s central bank raised its policy rate by 1 percentage point, surprising forecasters. The State Bank of Vietnam appeared to be trying to curb inflation while discouraging capital outflows in search of higher interest rates abroad.

Investors worry that central banks are willing to tolerate a painful economic crisis to bring prices under control.

Some point to signs that the US economy is cooling as the Fed backs its plans for further rate hikes. But Chairman Jerome Powell said on Wednesday that rates would be kept high for an extended period if necessary to bring inflation back to its 2% target.

US consumer inflation fell to 8.3% in August from a peak of 9.1% the previous month. But core inflation, which excludes volatility in food and energy prices to give a clearer picture of the trend, rose to 0.6% from the previous month, from 0.3% in July. . This indicated that upward price pressure was still strong.

The Fed on Wednesday raised its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%. It released a forecast saying it expects the benchmark rate to be 4.4% by the end of the year, one point higher than expected in June.

At midday in Europe, the FTSE 100 in London slipped 2.1%, the DAX in Frankfurt lost 2.5% and the CAC 40 in Paris fell 2.2%.

In Asia, the Shanghai Composite fell 0.7% to 3,088.36 and Hong Kong’s Hang Seng fell 1.1% to 17,953.50. The Kospi in Seoul fell 1.8% to 2,290.00.

Sydney’s S&P-ASX 200 fell 1.9% to 6,574.70 and India’s Sensex fell 1.5% to 58,231.49. Markets in New Zealand and Southeast Asia declined.

In energy markets, benchmark U.S. crude fell $2.75 to $80.74 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 55 cents to $83.49 on Thursday. Brent crude, used to price international oils, fell $2.63 to $86.90 a barrel in London. It was up 63 cents the previous session at $90.46.

The dollar rose to 142.88 yen from 142.49 yen on Thursday. The euro fell from 98.31 cents to 97.60 cents.

On Thursday, the S&P 500 lost 0.8%, the Dow Jones fell 0.4% and the Nasdaq composite slipped 1.4%.


McDonald’s reported from Beijing; Ott reported from Washington.

Lightweight agents help CrowdStrike process 7 trillion events per week for customer security


The technology behind the CrowdStrike cybersecurity solution relies on lightweight agents or sensors to monitor threats and collect vital security data. As organizations have learned, some agents can be more lightweight than others.

“A lot of times when you look at them, they’re not light; they take a lot of effort to install and they need reboots,” said Michael Sentonas (pictured), chief technology officer at CrowdStrike Holdings Inc. “We have a smart agent with built-in smart filtering, so we’re very careful in terms of the data we collect. I’ve spoken to organizations who said they planned to deploy our product in 18 months because of what they’ve been through in the past, and we did it in seven weeks. He’s a light agent.

Sentonas spoke with theCUBE industry analyst Dave Vellante during theCUBE @ Fal.Con 2022, an exclusive show on theCUBE, SiliconANGLE Media’s live streaming studio. They discussed the expansion of CrowdStrike’s partner network and how the company built a unique telemetry processing engine for enterprise security. (*Disclosure below.)

Third-party data growth

CrowdStrike’s use of lightweight agents to extract telemetry data from a wide range of sources formed the basis of several key announcements at Fal.Con this week. This included the news that its Falcon Insight product with Extended Detection and Response or XDR would add third-party telemetry from CrowdStrike’s growing network of partners.

“My talk was to show everyone the work we’ve done to import data from Zscaler and Proofpoint,” Sentonas said. “We announced that we would pull telemetry from Palo Alto Networks, Microsoft and others. XDR is about first-party and third-party integration and making all the telemetry work together.

As Sentonas explained, CrowdStrike built its own engine to handle the large amount of telemetry data and generate the response speed needed to deal with it.

“We had to build the technology from scratch,” Sentonas said. “Today, we process over 7 trillion events every week. The reason I believe we are alone in electronic data interchange is because of the time element; we have so much context that makes it easier for the threat hunter. Speed ​​and ease of use are essential in cyberspace. »

Here’s the full video interview, which is part of SiliconANGLE and theCUBE’s coverage of theCUBE @ Fal.Con 2022:

(*Disclosure: CrowdStrike Holdings Inc. sponsored this segment of theCUBE. Neither CrowdStrike nor other sponsors have editorial control over the content of theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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How Rising Interest Rates Are Affecting Multifamily Homes – Multifamily Real Estate News

Federal Reserve Chairman Jerome Powell announces a 75 basis point rate hike on September 21. Image courtesy of the Federal Reserve via Flickr

As widely anticipated, the Federal Reserve again raised the federal funds target by 75 basis points on Wednesday afternoon. The rate hike announcement is aimed at both reducing demand and reducing inflation over the coming months. Reaction to the announcement from multifamily industry watchers was swift.

“This week’s rate increase was expected, especially after the CPI report earlier in the month,” said Dave Borsos, vice president of capital markets at the National Multifamily Housing Council. Multi-Accommodation News. “Looking forward, investors will need to continue to watch the pace of inflation closely, and whether the Fed can begin to consider lower rate increases. However, if inflation continues at a high level, the Fed clearly announced that it would keep the rate hiked until inflation was under control.

The multi-family sector was not as affected by the rise in interest rates as the single-family industry. “However, alongside the broader economy, if high interest rates remain persistent for the foreseeable future, there will be a negative impact on development, despite the high demand we are currently experiencing,” Borsos added.

Ongoing changes

The Fed continues to use the main weapon at its disposal – interest rates – as it battles persistently high inflation, noted Jamie Woodwell, vice president of commercial real estate research at the Mortgage. Bankers Association. The negative impacts of inflation are seen in multi-family development. Costs have increased over the past year, with the result that each new unit is becoming more expensive to build, he said.

“The downside of Fed actions, however, can also be seen in the fact that each rate hike makes it more expensive to build and finance apartments, making it harder to land new deals,” he said. he declared. “Fed actions had a more pronounced effect on short-term rates than on long-term rates. Despite everything, the cost of long-term borrowings has roughly doubled since the start of the year.

“As a result, after a record start to the year for borrowing and lending, we expect a marked slowdown in the second half of the year as developers, buyers, sellers, lenders and others all adjust to the continued changes in market conditions. market,” Woodwell added. “At this point, it is not that there is a lack of equity or debt financing available. It is because the market adapts to the conditions and rates of this financing.

Liquidity exists for both debt and equity transactions. But capital is more selective and has turned to low-risk profiles, said Kelli Carhart, head of multifamily debt production for CBRE. The current environment makes it difficult to fund large loans. Sales of multifamily investments are expected to fall for the rest of 2022, but activity remained at historic levels.

“Headwinds, including rising rates, falling leverage and increased equity controls putting pressure on yields, will continue to impact the market,” he said. she declared. “Investors are still waiting for cap rates to adjust and for interest rates to continue to rise.”

Rising rates have no immediate or direct impact on obtaining fixed rate financing, said Marcus Duley, chief investment officer of Walker & Dunlop Investment Partners.

Increases in 7- and 10-year Treasury yields are impacting fixed-rate lending, he added. As the Fed raises the federal funds target range, index rates such as SOFR futures or LIBOR typically also rise. “With index rates rising and now lenders wanting much higher spreads, floating rate loans are becoming more expensive, coupled with a lower product based on actual DSCR constraints and a much higher cost for caps. interest rates charged by lenders.”

Most impacted

Basic market assets and value-added investments, since these transactions have often been financed with floating rate debt, are the most likely to be the type of product negatively affected. Investors could face significant negative leverage that would make it difficult to meet debt service obligations, said David Scherer, co-CEO of Origin Investments. “The construction to let (BFR) sector could be one of the biggest beneficiaries of the current rate hike and the cumulative increases that have taken place,” he said.

“There are literally millions of current tenants and potential landlords who are trapped. They were excluded from buying their first home. BFR creates the same housing dynamics without the financial burden.

Underlying multifamily fundamentals are still good, Carhart said. Although rent increases are expected to moderate, overall housing demand is robust. “The lack of affordable housing will also continue to drive demand in this space,” she said, noting that higher mortgage rates and the lack of affordability of single-family homes will benefit multi-family homes.

Doug Prickett, senior managing director, investment research and analysis at Transwestern, agrees. Demand in the rental market is expected to remain strong as the alternative market for sale becomes less affordable, he said. But at the same time, new supply could slow due to rising costs and the declining availability of construction finance.

“With an already existing housing shortage, demand pressure on existing products will intensify,” Prickett concluded. Three months ago, another rate hike boosted sentiment among multifamily watchers.

Luxx Miami Announces Miami Exotic Car Rental Services


When it comes to exotic car rentals in Miami, Luxx is the place to go. There is no greater collection to choose from for your yacht, exotic car or mega mansion rental. “Luxx started with an idea that had been done a few times before but never executed to its full potential” Jake, one of the founders of Luxx Miami says Corvettes, Vipers and Mercedes were the typical exotic vehicles available at the lease for a few years only. from. But now Ferraris, Lamborghinis and Porsches are now commonplace in the selection.

A Lamborghini Huracan, Rolls Royce Cullinan, Porsche 911, BMW M3 and Corvette C8 are among Luxx MiamiThe exotic cars of the fleet. 10 Lamborghinis Urus have recently been added to their collection. This automobile will cost you $1,395 a day for customers who want to live large.

A Ferrari 488, Rolls Royce Dawn, Lamborghini Huracan, Bentley Bentayga, Corvette C8, Dodge Charger Scatpack, Mclaren 720 and many more are among the exotics available at Luxx Miami. This makes it part of Miami’s largest collection of exotic cars, miami yacht rentals and mega villas here in Miami.

Customers can choose from four different fleets of vehicles in Exotic Car Rental Luxx Miami: exotic sports cars, fun convertibles and sporty roadsters, luxury two- and four-passenger convertibles and luxury SUVs.

The Mclaren 720 and Ferrari F8 are among the exotic sports vehicles for rent, as are the Ferrari 488 Pista and the Maserati Quattroporte. The Mercedes AMG CL55 Sports Coupé, BMW M3 Convertible and Mercedes S550 are among the two- and four-seater luxury sedans in the fleet.


There is no one-size-fits-all approach to starting an exotic car rental business. Although each business started with local market demand, each route is unique.

“We looked for a place to rent a supercar in the Southeast, but couldn’t find anything worth calling,” says Jake. One of the owners of Luxx. “Of course, you can hire an ‘exotic’ automobile, such as a Viper, Mercedes or even a Bugatti, from various locations. However, the market hasn’t lived up to the variety and quality of production we’ve come to expect from companies looking to charge thousands of dollars a day for their services.

The company currently has a security department and recently launched a limousine service in response to driver requests from Bentley and Range Rover customers.

How to determine the cost of a Miami Exotic Car Rental

Above all, “people think we’re just making up prices,” says Jake. “but it’s actually based on the cost of buying it and how quickly the car depreciates.”

According to Jake, a good rule of thumb is that the daily rental is 1% of the value of the car. Price is adjusted based on demand, prestige and public image using this as a starting point.

Jake charges $1,395 a day for the $340,000 Lamborghini Urus. Despite the fact that the twin-turbo Porsche 911 is valued at $100,000, it only charges $595 per day, or 0.5% of its value. He says, “People aren’t willing to pay $1,400 a day for a Porsche.” “The Porsche brand does not have the gravity that Ferrari and Lamborghini rental have.”

Jake has also based his rates on those of other rental companies across the country, but he admits it’s a “chicken and egg” situation. In other words, he notices startups renting cars in $100 increments, which he kicked off.

Additionally, Customers might be confused as to why they are paying $200 per day for basic service. luxury vehicle rental like a Lexus RC. According to Jake, the customer pays a premium for the privilege of booking the specific car on a specific day. This poses a problem for the lessor in terms of use. “If someone books a Lexus RC for a one-day rental in two weeks, I’ll have to turn down a two-week rental at that time,” he explains.

There is no free mileage.

According to Jake, the industry average is 75 to 100 free miles every day. Excess mileage charges range from $3 for low-end to $7 for ultra-exotic vehicles. However, on automobiles in the Corvette and BMW ranges, Jake provides 100 miles a day for free and charges additional miles. Ditto for high-end vehicles such as Ferrari, Aston Martin and Lamborghini.

Unlimited mileage is a Pandora’s box that should be avoided at all costs. “They took advantage of me every time I offered them an unlimited mileage contract or a reduced rate,” says Jake.

Protect your investments

Exotic car rental companies work hard to verify that they are renting from reputable customers.

A driving record check is performed by Luxx Miami. On top of that, the company requires a security deposit of $2,000.

The white glove approach

People may come because of the variety of pristine, well-maintained exotic cars available for rent, but it’s the customer service that keeps them coming back for more rentals.

“From top to bottom, this is a premium service company,” says Jake. “We treat our consumers like gold, and they can call us 24/7.” Also, the majority of our clients have my cell phone number or that of one of my managers. I despise organizations that are in the service business but only serve their customers on specific days and times.

Jake runs his business as if he were competing with a neighbor down the street. He explains, for example, “I grew up in this industry with Enterprise Rent-A-Car, so I understand the value of customer service and cleanliness.” “We aspire to offer first class service in conjunction with our first class cars,” adds Jake. “which means going beyond our customers’ expectations.”

Finally, the excellent customer service continues after the end of the rental period. “If the customer returns the vehicle to us, we will ask for feedback; if the customer returns the vehicle to a hotel or airport, we will call the customer for information,” says Jake.

for more details on the press release visit website

Media Contact
Company Name: Luxx Miami
Contact person: James
E-mail: Send an email
Call: 203-695-4819
Country: United States
Website: https://Luxx.miami/

Huntington Bank opens 21-story building in downtown Detroit


Detroit − About 100 political leaders and community members gathered on Wednesday to celebrate the opening of a new downtown office building that will house the headquarters of Huntington’s commercial bank Bancshares.

The 21-story Huntington Tower housed hundreds of bank workers and customers as Governor Gretchen Whitmer, Mayor Mike Duggan and other officials marked the completion of the 427,000 square foot building on Woodward Avenue. Huntington officials would not disclose the cost of construction.

“It benefits the entire state of Michigan,” Whitmer said. “Right after I took office I came here and it was just empty ground…it’s an honor to be here less than four years later and see what has been accomplished here and how it goes mean to the people of this community.”

A rooftop terrace, balcony and function rooms are some of the amenities offered to the 750 employees who will work at 2025 Woodward. The building can accommodate 800 employees, a number Huntington expects to reach in the near future.

From left, Mayor Mike Duggan, Huntington Bank Chairman Gary Torgow, President and CEO Stephen Steinour, Governor Gretchen Whitmer and Sandy Pierce, Senior Executive Vice President, in front of the new commercial bank headquarters in Detroit on Wednesday, September 21, 2022 .

Now that the Columbus-based bank has acquired TCF Financial Corp., Huntington employs 21,000 employees in 1,000 branches in 11 states. Gary Torgow, chairman of the bank’s board, said the $22 billion all-stock deal grew the bank from $50 billion in assets to $179 billion.

“We can employ more people, we can do more, we have more branches in Detroit,” Torgow said. “It gave us the opportunity to really grow the business.”

Less than five years ago, Torgow was executive chairman of a small bank, Talmer Bancorp Inc., until it merged with Midland-based Chemical Financial Corporation in 2019, creating TCF Bank. He said it was a “true privilege” to lead the board of directors of Huntington, the 25th largest bank in the country.

“As we grew, we were able to do more and more for the community, our colleagues, Detroit, our state,” Torgow said. “The bigger we are, the more promises we can make and the more opportunities we can deliver.”

The acquisition left Detroit without a major corporate bank headquarters and made Huntington one of the top 10 regional banks in the country.

Duggan said this wasn’t Huntington’s first involvement with the city. Steve Steinour, CEO of Huntington, spearheaded the creation of a strategic fund that raised $35 million to rebuild Detroit neighborhoods. Steinour and Torgow have partnered to help Detroit residents gain more access to mortgages, helping homeowners become the majority of residents.

“Our intention is to make this a building that helps the community, not just homes for our colleagues,” Steinour said. “We will be looking to enable the building in multiple ways with other community partners as we move forward.”

Torgow’s achievements in Detroit led city officials to present him with the “Spirit of Detroit” award at the event on Wednesday. As for what he sees next for the company, “We will continue to grow the bank, serve our customers, continue to support our colleagues, and whatever the good Lord designs will be the next step.”

United Rentals (URI) plunges more than broader markets: What you need to know – September 20, 2022


United Rentals (URI Free Report) closed the most recent trading day at $289.76, or -1.92% from the previous trading session. That move lagged the S&P 500’s daily 1.13% loss. Meanwhile, the Dow lost 1.01% and the Nasdaq, a technology-heavy index, lost 0.18%.

Prior to today’s session, shares of the equipment rental company were down 3.94% in the past month. That was narrower than the construction sector’s loss of 8.12% and the S&P 500’s loss of 7.59% during that time.

United Rentals will be looking to show strength ahead of its next earnings release. On that day, United Rentals is expected to post earnings of $8.88 per share, which would represent 34.95% year-over-year growth. Our most recent consensus estimate calls for quarterly revenue of $3.06 billion, up 18.05% from the prior year period.

For the full year, our Zacks consensus estimates call for earnings of $31.73 per share and revenue of $11.58 billion, which would represent swings of +43.83% and +19, 17%, respectively, compared to the previous year.

Any recent changes in analyst estimates for United Rentals should also be noted by investors. These revisions generally reflect the latest short-term trading trends, which may change frequently. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.

Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Over the past 30 days, our consensus EPS projection has increased by 0.22%. United Rentals currently has a Zacks rating of #1 (Strong Buy).

As for its valuation, United Rentals holds a Forward P/E ratio of 9.31. Its industry sports an average Forward P/E of 11.31, so we could conclude that United Rentals is trading at a discount comparatively.

Investors should also note that the URI has a PEG ratio of 0.53 at this time. This measure is used in the same way as the famous P/E ratio, but the PEG ratio also takes into account the growth rate of the stock’s expected earnings. The Construction Products – Miscellaneous industry currently had an average PEG ratio of 1.02 as of yesterday’s close.

The Building Products – Miscellaneous industry is part of the Construction sector. This group has a Zacks industry ranking of 59, which places it in the top 24% of over 250 industries.

The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and more, at Zacks.com.

Uber expands premium Comfort Electric EV service in the US


Uber has expanded its Comfort Electric service to 24 US cities and Vancouver, Canada. The company had launched Comfort Electric to build on agreements with rental companies like Hertz. The latter helps Uber drivers get their hands on Tesla and other high-end electric vehicles.

Uber Comfort Electric was made available four months ago in select California cities. Today, Uber’s partnership with Hertz has helped the company expand service, with more than 25,000 drivers renting a Tesla.

To pick up, Hertz in October 2021 said it would supply 50,000 of the 100,000 electric cars ordered from Tesla to Uber drivers in the United States. Drivers could first rent Tesla cars from Hertz in Los Angeles, San Francisco, San Diego and Washington DC last fall.

Uber and Hertz have worked together since 2016 to provide discount car rental options.

Besides Tesla cars, Uber is also listing other premium electric vehicles like the Polestar and Ford’s Mustang Mach-E in today’s announcement. At least the Polestar cars are also confirmed by Hertz.

As with previous communications, the companies did not disclose actual driver rates. Uber, however, suggests drivers who qualify for Comfort Electric can earn more per hour due to higher fares, gas savings and an additional $1 per trip incentive for every trip they take.

Starting today, Uber Comfort Electric has been activated in the app in Atlanta, Austin, Baltimore-Maryland, Boston, Charlotte, Chicago, Connecticut, Dallas, Denver, Houston, Las Vegas, Miami, New Jersey, NYC Suburbs, Philadelphia, Portland, Sacramento, San Antonio, Seattle, St Louis, Vancouver (Canada), in addition to Los Angeles, San Diego, San Francisco and Washington DC.

It’s a bit like Uber Green in Europe, where passengers choose electric cars to pick them up. The service is mainly available in London (and some US markets), and Uber has tried to make it easier for drivers to finance electric cars. More recently, the company partnered with fintech company Moove to provide drivers with electric vehicles through its rent-to-own model. Moove aims to be the biggest EV partner on Uber’s London platform, with plans to grow to 10,000 cars by the end of 2025. However, that has yet to materialize.

Uber Comfort Electric also ranks above Uber Green as it requires a price premium and is premium EV only. Uber Green, however, sometimes includes PHEVs and hybrid cars.

Uber drivers can view their options for going electric in the “EV Hub” available in the driver app.


U.S. Stocks Rise Ahead of Fed’s Expected Interest Rate Hike – Sentinel and Enterprise



A choppy day of trading on Wall Street ended with stocks closing higher on Monday as investors brace for another big interest rate hike this week from the Federal Reserve.

The indices oscillated between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P 500 rose 0.7%, rebounding from a 0.9% decline. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite climbed 0.8%.

Tech stocks, retailers, banks and industrial companies helped boost the market. Apple rose 2.5%, Home Depot gained 1.6%, Bank of America rose 1.7% and United Airlines closed up 3.3%.

Health care and real estate stocks fell, tempering gains elsewhere in the market. Pfizer fell 1.3% and Welltower 2.2%.

The 2-year Treasury yield, which tends to track Fed action expectations, rose to 3.94% from 3.87% late Friday. The 10-year yield, which influences mortgage rates, rose from 3.45% to 3.49%.

Small company stocks also gained ground. The Russell 2000 closed up 0.8%.

Trading volume was below normal, a sign that most traders weren’t keen on making big changes ahead of the Federal Reserve’s interest rate policy announcement on Wednesday afternoon, it said. Scott Ladner, Chief Investment Officer at Horizon Investments.

“Nobody really wants to position themselves in front,” he said. “It’s been such a slippery market both up and down.”

The S&P 500 rose 26.56 points to 3,899.89, while the Dow Jones added 197.26 points to 31,019.68. The Nasdaq rose 86.62 points to 11,535.02 and the Russell 2000 added 14.65 points to 1,812.84.

Wall Street remains focused on inflation and the Federal Reserve’s attempt to drive prices down by aggressively raising interest rates. On Wednesday, the central bank will announce its latest rate decision. It is expected to raise its benchmark rate, which influences interest rates across the economy, by another three-quarters of a percentage point.

The broader market is coming off its worst week in three months following a surprisingly hot report on inflation and major companies, including FedEx, warning of deteriorating trends in the economy.

Wall Street fears that the Fed’s plan to quell the highest inflation in four decades is too aggressive and could plunge the economy into a recession by dampening growth too hard. Higher rates also tend to weigh on equities, especially the more expensive tech sector.

Investors will get another update on the housing sector on Wednesday when the National Association of Realtors releases August numbers for sales of previously occupied homes.

Average long-term mortgage rates in the United States rose above 6% last week for the first time since the housing crash of 2008. These higher rates could make an already tight housing market even more expensive for American buyers.

Britain observed a day of mourning for Queen Elizabeth II. The German DAX rose 0.5% while the CAC 40 in Paris fell 0.3%. Hong Kong’s Hang Seng lost 1% while the Shanghai Composite lost 0.3%. Japanese markets were closed for a holiday.


AP Business Writer Elaine Kurtenbach contributed to this report from Bangkok.

Digital Payments Market to Seize Opportunities Worth $361.30 Billion by 2030: Grand View Research, Inc.


SAN FRANCISCO, September 19, 2022 /PRNewswire/ — The Global Digital Payment Market is Expected to Reach $361.30 billion by 2030 and projected expansion is at a CAGR of 20.5% over the forecast period, according to a new report from Grand View Research, Inc. In 2021, the digital payment market was valued at $88.1 billion. Cashless transactions globally, which are on the rise over the years, look promising for the overall market growth. Global cashless transactions are expected to see significant growth amid usage and preference for cashless transactions and by 2025 a growth of 1.9 trillion transactions is estimated.

Key industry insights and findings from the report:

  • Various initiatives have been adopted to make digital payments interfaced globally, as well as increased government support.
  • An increase in urbanization and industrialization, and the growing number of smartphone users among the global population have greatly contributed to the overall expansion of the market.
  • The introduction of payment networks, such as Master Card, Visa, and RuPay, in several countries around the world, is helping the growth of the segment.
  • The growing adoption of digital payment solutions in emerging economies, such as China and India, Expected to Create Growth Opportunities for Market Players in Asia Pacific Rising customer demand for contactless payment methods is the reason banks are adopting digitized solutions. This accentuates the expansion of the BFSI segment.
  • In September 2021Virgin Money and Global Payments, Inc. have signed a distinctive two-way Global Payments Network User Agreement that provides Virgin Money consumers with access to leading digital payment experiences around the world.
  • Introduced in 2021, RealNet is a cloud-based software-as-a-service (SaaS) platform that enables account-to-account (A2A) transactions for businesses, individuals and governments over real-time payment networks .

Read the full 150-page market research report for more information,”Digital Payments Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-Premise), By Solution (Payment Gateway, Payment Processing), By Payment Method, By Enterprise Size , by end use and segment forecast, 2022-2030“, published by Grand View Research.

Digital Payments Market Growth and Trends

Customer preference for real-time payments has increased globally in recent times. The Indian economy recorded real-time transactions of 25.6 billion in 2020, representing a growth of 70%. The COVID-19 pandemic has also had a positive impact on the digital payment market with an increase in online shopping and fear of virus transmission through physical monetary transactions.

The growing preference for online shopping is a driving factor for the market. It provides users with a number of benefits such as fast checkout options, personalized customer experience, and multiple payment options. Additionally, companies are also designing improved smartwatches capable of making contactless payments, similar to the process used in smartphones. For example, Xiaomi launched the brand new Mi Smart Band 6 in collaboration with Master Card in December 2021capable of making contactless payments at Master Card terminals.

The smart city initiative adopted by the government is an important element in the growth of the digital payments market, as digital payments are used in different departments to cover multiple payments from citizen to government (C2G) and government to citizen ( G2C). . Accenture conducted research that shows deals are worth $7 trillion is expected to move from cash to card and other digital payments by 2023, and reach $48 trillion by 2030.

The introduction of digital wallets and the decrease in the number of unbanked people in the world seem favorable for digital payment providers to expand their customer base. Overall, the digital payment market is expected to witness a much higher growth rate, owing to driving factors such as the promotion of digital payments, increasing internet penetration, high proliferation of smartphones which enable the growth of m-commerce and an increase in e-commerce. -Commercial sales.

Segmentation of the digital payments market

Grand View Research has segmented the global digital payment market based on solution, payment method, deployment, company size, end use, and region:

Digital Payments Market – Solution Outlook (Revenue, USD Billion, 2017 – 2030)

  • Application program interface
  • payment gateway
  • Payment Processing
  • Payment security and fraud management
  • Transactional risk management
  • Others

Digital Payments Market – Payment Method Outlook (Revenue, USD Billion, 2017 – 2030)

  • Bank cards
  • Digital currencies
  • Digital wallets
  • Net bank
  • Points of sale
  • Others

Digital Payments Market – Deployment Outlook (Revenue, USD Billion, 2017 – 2030)

Digital Payments Market – Company Size Outlook (Revenue, USD Billion, 2017 – 2030)

  • Large companies
  • Small and medium enterprises

Digital Payments Market – End-Use Outlook (Revenue, USD Billion, 2017 – 2030)

  • BFSI
  • Health care
  • IT & Telecom
  • Media and entertainment
  • Retail and e-commerce
  • Transportation
  • Others

Digital Payments Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of Key Digital Payment Market Players

  • Aliant Payments
  • Aurus Inc.
  • Adyen
  • Financial Software and Systems Pvt. ltd.
  • PayPal Holdings Inc.
  • Novatti Group Pty Ltd.
  • ACI Worldwide, Inc.
  • Global Payments Inc.
  • wirecard
  • Authorize.net
  • Total System Services, Inc.

Check out other related studies published by Grand View Research:

  • Contactless payment marketThe global contactless payment market size is expected to reach $6.25 trillion by 2028, according to a new report from Grand View Research, Inc. It is expected to register a CAGR of 20.3% from 2021 to 2028. Various benefits, such as better service delivery and reduced time transaction capabilities offered by contactless payments, are expected to propel the growth of the market over the forecast period.
  • Mobile payment market – The global mobile payment market size is expected to reach $587.52 billion by 2030, expanding at a CAGR of 35.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. Market growth can be attributed to the growing shift towards contactless payment amid of the COVID-19 pandemic. Moreover, the growing popularity of e-commerce industry across the globe is expected to accelerate the adoption of mobile payment over the forecast period.
  • Payment as a Service Market – The Global Payment as a Service Market Size is Expected to Reach $25.7 billion by 2027, growing at a CAGR of 16.9%, according to a new report from Grand View Research, Inc. Digital disruption of the money transfer ecosystem, combined with the increased need for methods fast money transfer, has transformed the payment gateway model. Due to digital money transfer methods, consumers are now demanding secure digital transaction processing systems to transfer money to their merchants and individuals.

Browse next-generation technology industry research reports from Grand View Research.

About Grand View Research

Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

Sherry James
Corporate Sales Specialist, UNITED STATES
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
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SOURCEGrand View Research, Inc.

Drastic shortages of stock prevent people from entering the rental market


The supply and demand problem has seen the cost of renting skyrocket over the past year, from an annual increase of less than 2% in July 2021 to 12.3%.

Average monthly rents have increased by £115 since last year and now stand at £1,051 per calendar month.

In Yorkshire they are up 10.2% and cost an average of £697 per month. In Leeds the increase is 11.4% and the average monthly rent in the city is now £830, while in Sheffield the rise is 10.8% with rents now averaging £711.

More and more people are struggling to find rental accommodation

Those looking to rent in London face the biggest challenge as rents top the growth chart there with a 17.8% increase, followed by Manchester with a 15.5% increase.

Hometrack says the rise is outpacing profit growth across all regions and countries in the UK and the situation is worsening as private owners continue to sell homes to rationalize their portfolios in the face of tax concerns and changes proposed for rental regulations.

Many have also cashed in to take advantage of recent increases in property values ​​fueled by the pandemic.

As the pace of rent increases begins to plateau in some places, Hometrack believes there is room for above-average growth in the cheaper parts of the UK, including parts of Yorkshire. It predicts upward pressure on rents until 2023.

This and the cost of living crisis are causing people to seek smaller, energy efficient homes.

In the regions, the price difference for a two-bedroom apartment and a three-bedroom house is £105 per month, which equates to a saving of £1,260 per year.

There is now talk of rent caps, where rents are set at a certain value with increases linked to inflation or wage growth, although few people believe this will happen in England.

However, the Rent Reform Bill, once enacted, will require landlords to make their properties more energy efficient and limit the grounds for eviction of tenants.

Luke Gidney, MD of Leeds-based estate and lettings agency HOP, says: “Lack of stock means that within the first two hours of listing a rental property, we have between 20 and 30 phone calls from potential tenants within the first two hours.

“We had to put a cap at 25 views.”

He adds: “More of our owners have sold properties and it’s the same everywhere, hence the huge shortage of stock.

“Tenants are also staying longer in a house because if they move, they will have to pay a higher price.”

Rent caps have been suggested, but Luke thinks that would make a bad situation worse and lead to more landlords being sold.

Nick Simpson, CEO of Linley & Simpson, which operates across Yorkshire, said: “Unless the government opens its eyes and recognizes that landlords are the solution, rather than a problem, the situation will only get complicated.

“It is long-term policy inaction to close the growing gap between supply and demand that is at the root of what the rental sector is experiencing today.

“It’s an industry battered by the perfect storm of spiraling demand, shrinking supply and mounting cost of living pressure.”

He adds: “It’s a classic case of hens coming home to roost. Years of anti-landlord legislation and an influx of red tape have forced many landlords out of business.

“This trend has been further fueled by rising property prices, a tasty carrot on a stick that many homeowners looking to cash in are finding it hard to turn down.”

He predicts that the situation will get more complicated and calls on the new Chancellor to announce measures to encourage investment and entice owners to return to renting.

Nick points out that the Republic of Ireland saw its rental market crash a few years ago as penalized landlords fled the area.

He says: ‘Ireland has now realized that urgent action is needed and the tax breaks for private landlords, in return for staying on the market for ten years, are part of a series of incentives being considered there. Similar proactive action is needed here.

New Model for Recruiting Regular Americans to Resettle Refugees


When nearly 80,000 Afghans arrived in the United States, refugee resettlement agencies were quickly overwhelmed, still struggling to rehire staff and reopen offices after being gutted as the Trump administration slashed the number of refugee admissions at a record high.

So the US State Department, in conjunction with humanitarian organizations, turned to ordinary Americans to fill the void. Neighbours, co-workers, faith groups and friends have come together in “sponsorship circles” to help Afghans settle into their communities.

They raised funds and found houses to rent for new arrivals, enrolled their children in schools, taught them how to open bank accounts and located the nearest mosques and shops selling halal meat.

Since the withdrawal of the US military from Kabul last year, the Sponsorship Circle program for Afghans has helped more than 600 Afghans restart their lives. When Russia invaded Ukraine, a similar effort was made for the Ukrainians.

Now the Biden administration is preparing to turn the experiment into a private sponsorship program for refugees admitted under the U.S. Refugee Admissions Program and is asking organizations to partner with it to launch a pilot program. by the end of 2022.

The move comes amid mounting pressure on President Joe Biden, who pledged in a 2021 executive order to increase opportunities for Americans to resettle refugees and restore the United States as the world’s safe haven. The Trump administration has decimated the refugee program, which traditionally tasks nine resettlement agencies with placing refugees in communities.

Experts say the private sponsorship model could transform how America resettles refugees and ensure a door remains open no matter who is elected.

“I think there’s a real revolution going on right now when it comes to communities in America and communities around the world raising their hands and saying, ‘We want to bring in refugees,'” said Sasha Chanoff, Founder and CEO of RefugePoint. , a Boston-based nonprofit that helped launch the effort.

It comes as the number of people forced to flee their homes topped 100 million this year, the first time on record, according to the UN High Commissioner for Refugees.

The pilot program will incorporate lessons learned from the Sponsor Circle program for Afghans, which was developed as an emergency measure to expedite the resettlement of Afghans, many of whom are languishing on US bases. But the pilot program will be different because it is intended to be “an enduring part of US refugee resettlement,” a US State Department official said in an email to The Associated Press.

The pilot program will connect ordinary Americans with refugees abroad who have already been approved for admission to the United States, the representative said.

Chanoff said the new model should also come on top of the US government’s traditional refugee program, which only admitted about 15% of the 125,000 Biden cap set for the fiscal year ending Sept. 30. . The Biden administration has been slow to build staff and overcome the huge backlog, especially amid the COVID-19 pandemic, advocates say.

Those figures exclude the roughly 180,000 Afghans and Ukrainians who were mostly admitted on humanitarian parole, a temporary legal option that aimed to get them in faster but left them with less government support.

Ordinary Americans have helped fill that need, Afghan families say.

As part of the sponsorship circle program for Afghans, participants underwent background checks, received training and developed a three-month plan. Each group was to collect at least $2,275 for each resettled person, the same allowance the US government gives to agencies for each refugee.

Mohammad Walizada, who fled Kabul with his family, said five days after being connected in a sponsorship circle with Four Rivers Church in New Hampshire, his family moved into a furnished house in Epping, a town in approximately 7,000 inhabitants.

Meanwhile, Afghan friends and relatives have spent months on US bases waiting to be placed by a resettlement agency, he said.

He said his sponsorship circle gave his family 10 months rent and a car, and someone still watches over him, his wife and six children on a daily basis. Each circle receives a mentor who coaches them from WelcomeNST, an organization created in 2021 to help Americans resettle Afghans and now Ukrainians. The organization offers a Slack channel for circles and partners of the resettlement agency, HIAS, which connects them to social workers when needed.

The New Hampshire team has more than 60 members helping people like Walizada.

“I feel like I have a lot of family here now,” Walizada said.

True, ordinary Americans have always helped resettle refugees, but not on this scale since the US Refugee Act of 1980 created the official program, experts say.

A similar outpouring of goodwill occurred when the Biden administration launched Uniting for Ukraine, which allows Ukrainians to flee war to the United States for two years with a private sponsor. US Citizenship and Immigration Services, an agency of the Department of Homeland Security, which oversees the program, received more than 117,000 applications through August.

Hundreds of Americans have formed teams to resettle Ukrainians, including in Wyoming – the only state that has never authorized an official refugee resettlement program.

“We just wanted to be able to do something and we have such a great community here,” said Darren Adwalpalker, pastor of Highland Park Community Church in Casper, who formed a group that sponsored three Ukrainians who arrived in the town in 60 000 in June. .

Adwalpalker has received support from the humanitarian group Samaritan’s Purse.

“Without private sponsorship, this would not have been possible for many of these communities who have enormous resources and the goodwill to do so,” said Krista Kartson, who runs its refugee programs.

With $3,000, the pastor said his group provided an apartment for six months for the only Ukrainian who remained in Casper. Just about everything else – grocery gift cards, furniture – was donated.

“One of the things I’ve learned is that the whole idea of ​​a resettlement office isn’t that important” if there are people on the ground willing to help, Adwalpalker said. .

“We have dentists working on their teeth. We have doctors who see them. We have lawyers who help them with their immigration documents.

Courtney B. Vance discusses mental health after her father’s death by suicide


Actor Courtney B. Vance spoke on mental health at a panel discussion with the writer Candace McDuffie and Dr Robin Smith in Washington, DC earlier in the week.

Vance told the panel that his godson and his father died by suicide and therapy helped him cope. The 62-year-old’s father had suffered from depression and died when Vance was 30. After his sister and mother encouraged him, Vance decided to try therapy. The Emmy Award-winning actor admitted it took time to find the right therapist, but noted it was life-changing.

“I think we all have to find a good person to chat with and just like we tune our cars, we have to tune ourselves. Nobody else is going to help us if we don’t help ourselves.

“We started working on my dreams and it completely changed my life,” Vance added. “She asked me if I had the patience to let the mud settle in the water and let the water turn clear? But at the time, I didn’t know how to sit. She asked me how I made decisions. And I said, like acting, I’m just making a choice. She told me “it’s good for playing, but for life, it’s potentially fatal”. Sometimes you don’t know what to do and you have to stand. I can’t control any of this. The first three years of marriage are difficult. And I almost ruined it because I was trying to change her. I realized, she’s fine. You have to pull yourself together. »

The 61st street the actor said a book about dream interpretation, “Breakthrough Dreaming” by Gayle Delaneyalso helped him through his grief.

Vance and his wife, actress Angela Bassetteare working on a new movie, Heist 88, featuring Vance and actor keith david. The film is based on the true story of Armand Moore, who was the mastermind behind one of the nation’s biggest bank robberies. The film began production in August.

GO Rentals partners with the world’s largest car rental company, Enterprise Holdings, to expand its global network


GO Rentals is delighted to announce its partnership with Enterprise Holdings, the world’s largest car rental company.

GO Rentals has been granted the right to operate the Enterprise Rent-A-Car, National Car Rental and Alamo Rent a Car brands in New Zealand from August 1.

Enterprise Holdings is one of America’s largest privately held companies and, through its network of affiliated companies, manages a diverse fleet of more than 1.85 million vehicles at its nearly 10,000 neighborhood rental locations and fully staffed airport operators in more than 90 countries and territories.

Enterprise Holdings looks forward to continued expansion and growth in the New Zealand market, especially given the recent reopening of New Zealand to international travel.

GO Rentals COO James Dalglish says that with Tourism NZ mainly focusing on North America and Air NZ resuming long-haul flights, this makes Auckland one of the most connected cities in the world and that the partnership could not have come at a better time.

“With the increase in the number of international flights, including more flights planned between New Zealand and the United States, there is a tremendous opportunity to bring the Enterprise standard of excellence to a wider customer base” , did he declare.

“One of the best ways to see New Zealand is by car, the Great New Zealand Road Trip. Hiring a car allows visitors to explore our country’s rich tourism offering.

“Our new partnership with Enterprise Holdings will make this more accessible to domestic and international visitors at an integral time, after a difficult time for many businesses across the country that are heavily dependent on tourism.”

Used vehicle inventory up 30% per year – Remarketing


The average used vehicle listing price continues to hover at just over $28,000, but price growth has definitely slowed since last year’s big spike.

Graphic: Cox Automotive

The volume of used-vehicle inventory was flat from July to August, as were prices – a sign of market stability, according to Cox Automotive’s analysis of vAuto’s available inventory data released Sept. 16.

The total supply of unsold used vehicles at dealer lots, both franchise and independent dealers, across the United States stood at 2.46 million units at the end of August, roughly the same number as the revised number at the end of July.

Total day supply at the end of August stood at 49, compared to the revised supply of 52 days at the end of July. Day supply in July was 24% higher than the previous year’s levels.

“Inventory volume at the end of August was 10% above year-ago levels, so we’re seeing some improvement,” said Chris Frey, Cox Automotive’s senior director for Industry Insights, in a statement. Press release. “In fact, we are followed at a fairly normal rate for supply.

Cox Automotive’s day supply is based on the daily sale rate for the most recent 30-day period, in this case, ending August 29. .

“While total used vehicle sales so far this year are down 16% from 2021, the year is following a normal trend line,” Frey said. “The latest rise in August suggests resilience in the second-hand market.”

By brand, Toyota and Honda had the lowest used vehicle inventory, with 42 and 41 days of supply, respectively. They are also at the lower end of the new vehicle supply scale.

Subaru and Hyundai, with 43 and 44 day used day supply, and Kia with 46 day used day supply, are other Asian automakers with lightly used new vehicle inventory as well as new vehicle inventory reduced. Mazda has an above average new vehicle inventory, but is rather low at Used Vehicle Inventory for 45 days.

Per price category, the lower the price, the lower the supply. The under $10,000 segment has the lowest available supply and the lowest day supply of 31, down one point from a month ago. The $10,000 to $15,000 segments saw a drop in day supply to 36 from 37 a month earlier. Price categories between $15,000 and $30,000, representing the bulk of available inventory, had a 51-53 day supply. Categories above $30,000 had 55 to 61 days of supply.

The average used vehicle listing price topped $28,000 in mid-April and hit a record high of $28,375 in early May. The average listing price then dipped slightly throughout August, closing at $28,061. This compares to a revised amount of $28,003 at the end of July. Year-on-year price growth was 28% in mid-April, but has fallen every week since and is now 9% higher than a year ago.

“The average used vehicle listing price continues to trend at just over $28,000, but price growth has definitely slowed since we passed the anniversary of the big race last year. “, said Frey. “Yet prices remain above 2021 levels and will remain there as long as demand remains strong and until new vehicle inventories build up.”

In terms of wholesale prices, the Manheim Used Vehicle Value Index shows prices have been falling for most of the year and were down 4% in August compared to July. Over the past six weeks, the gap between wholesale and retail prices has widened.

“It’s unclear whether the retail index will follow the wholesale index through the depreciation cycle over the next 16 weeks,” Frey said. “Anyway, the wholesaling started to depreciate again after the spring.”

Originally posted on Vehicle Remarketing

Comerica Bank will open a business and innovation center in Frisco in 2023


North Texas continues to attract new and larger businesses. Now Comerica Bank has announcement that construction of its new office tower at The Star in Frisco will begin later this year and is expected to open between late 2023 and early 2024.

The business and innovation building will complement Comerica’s headquarters in downtown Dallas, where executive offices, commercial banking, wealth management and other business units will continue to operate.

“This represents a significant investment in Comerica’s strategic vision,” Megan Crespi, executive vice president and director of technology and business services for the company, said in an official statement. “Expanding our headquarters footprint to one of the most sought-after locations for business and innovation in the United States positions our bank for future success.”

As previously covered by Local profile, North Texas is becoming an attractive destination for businesses in different fields, especially the technology industry. It’s no wonder Comerica wants to set up a new space including an innovation center to test new concepts and a tech genius bar in Frisco after other tech companies called dibs on spots around town.

“Frisco is known for cultivating an exceptional environment for businesses to thrive,” said Brian Foley, President of Comerica’s Texas Market. “The hub’s on-site amenities and prime location will help support our company’s vision for future growth, including our ability to attract and retain top talent.

Comerica will also come with employment opportunities for the region. The new building is expected to house approximately 300 workers from various teams, including technology and product management to front-line business units, and will include learning and interview centers at the new human resources office.

The company hopes The Star’s mixed-use campus will provide colleagues with entertainment, sports, retail, residential and educational opportunities that will further enhance the worker experience and help attract new talent in the process.

Records show investors own hundreds of homes in the Boise area


Who are these investors in Treasure Valley? How many of them are Idahoans looking for extra income, and how many are tied to out-of-state interests profiting from the housing boom?

BoiseDev has spent the past four months digging through hundreds of real estate property records in Ada and Canyon counties, seeking investors to learn more about homeowners in our neighborhoods and where they are located. . This analysis is not a complete picture of every investor or owner in Treasure Valley due to the large number of records to review. Yet it revealed the prevalence of large-scale investor-owned properties, particularly in the outer suburbs of Treasure Valley.

Records reveal at least more than 400 single-family homes in Treasure Valley owned by out-of-state investors, with the vast majority owned by publicly traded California company American Homes 4 Rent.

Are houses a new investment asset class?

It’s not just in Idaho, where investment companies have taken hold, fundamentally changing the real estate market.

A months-long survey by the Charlotte Observer revealed the extent of the real estate holdings of Wall Street-backed companies in North Carolina earlier this year. A team of reporters uncovered 40,000 properties statewide owned by less than two dozen deep-pocketed investment firms.

The United States has no laws preventing private companies or individual investors seeking to expand their holdings from buying as many single-family homes as they want. Nothing about this change in the market is illegal, but it changes the dynamics of how supply and demand shape prices as growing families bid against Wall Street firms that can afford to pay. in cash, thousands more than the asking price of the houses.

Steven Peterson, clinical associate professor of economics at the University of Idaho, says investing in out-of-state real estate isn’t a negative thing on the face of it because it can help build more houses to accommodate a growing population. But, he said, problems arise when investment firms buy homes to boost profits without building more.

“What worries me is that they treat it like an asset class of investments, like a stock-like investment,” he said. “I don’t see on the surface how that leads to increased availability.”

He said it made the real estate market more sensitive to stock market boom and bust cycles, and it took homes away from the market for families to buy. But, even as economic forecasts point to a potential recession, Peterson warned anyone against hoping for a Wall Street crash, believing it would free up some of those investor-owned properties and make it easier to buy homes. a home for average Americans.

Peterson said that unless officials relax zoning laws and allow new homes to be built to address the nation’s growing housing shortage, these homes will continue to be valuable assets for these businesses. and prices will continue to rise.

“We can easily have a recession, and that has no effect on this problem,” he said. “You have to be very careful what you wish for. Recessions are generally not good things because they cause a lot of economic stress.

Small and large investors

BoiseDev’s research revealed three loosely defined groups of investors populating Treasure Valley neighborhoods.

The first group is what people generally refer to as “mommy-and-pop” owners. The vast majority of properties BoiseDev reviewed linked to LLCs on the Boise Bench and North End were linked to people who live in Treasure Valley and own one or possibly two properties. These properties could provide additional income for someone who lives locally or was originally purchased as a first home decades ago and is now rented out.

An aerial view of homes at Locust Grove Rd and Ustick Rd. in Meridian Photo: Charles Knowles/Shutterstock

The second class of investors operating in Treasure Valley are based out of state and own more than one or two properties. That includes outfits like investment firm WTS Investments LLC, which owns ten homes in Canyon County. The company is based in Houston and is linked to Tanweer Ahmed, the CEO of catering company PAK Foods. WTS purchased all ten properties on the same day in 2011.

Another example is Elco Enterprises LLC, which owns 15 properties in Ada County. He is associated with a large family home in Billings, Montana. The LLC, which is now listed as missing with the Idaho Secretary of State, is linked to Billings-based trucking company owner Carl Baltrusch. Sunset West LLC, which owns three properties in Ada County and is tied to a law firm in Cedar City, Utah, specializes in forming LLCs and is a registered agent for businesses. Public records do not reveal the direct owner.

Wall Street joins Main Street

Operations like publicly traded American Homes 4 Rent are on a different scale than any of these other companies or people who manage rental properties.

The company was one of the first major public companies to invest heavily in single-family homes about a decade ago. Since then, American Homes 4 Rent has amassed tens of thousands of homes across the country. A June filing by the US Security Exchange Commission said the company owned 57,000 homes in 22 states. The report noted a high concentration of ownership in cities like Atlanta, Dallas and Charlotte.

“American Homes 4 Rent is transforming the single-family rental industry,” American Homes 4 Rent CEO David Singelyn said in a video on the company’s website.

Public real estate records show American Homes 4 Rent owns 443 properties in Ada and Canyon counties, including 344 in Idaho’s largest county. Most homes are located in the once affordable outer suburbs of Kuna, Star, Meridian and unincorporated Ada County. For example, in a Star subdivision with 214 homes, seven are owned by American Homes 4 Rent.

A screenshot of homes available for rent in a Kuna subdivision by American Homes 4 Rent

These homes are often for rent in nondescript suburban neighborhoods with backyards and the typical amenities common to any subdivision. The average company-owned home is 17 years old and just under 2,000 square feet. They rent for an average of $1,856 per month, which is roughly equivalent to the mortgage payment for a $375,000 home with an interest rate of 4.25% on a 30-year mortgage. Kuna homes listed on the company’s website are rented for at least $2,300 per month.

And these are only the houses purchased by American Homes 4 Rent that already exist. The company has now shifted to building housing estates for rental. American Homes 4 Rent expects to bring between 2,100 and 2,400 new homes for rent online by the end of 2022. The company’s SEC filings boast of a “land pipeline of more than 20 000 units” that creates “years of growth stability” for potential investors to consider.

One of these subdivisions is expected to rise on the site once planned for a school in the Boise Independent School District. The school district opted to sell the land instead, and the highest bidder was AMH Development, the homebuilding arm of American Homes 4 Rent, for $6.3 million earlier this year.

“You don’t even know who to contact”

Investor-owned rentals are a whole different ballgame for eviction prevention nonprofit Jesse Tree.

Executive director Ali Rabe said his nonprofit’s strategy to help prevent evictions is to negotiate with landlords and use a combination of rental assistance and case management to resolve the issue for the customer. This gets complicated when tenants live in rentals owned by investors who have no relationship with their tenants and who might just be looking to move on to the next tenant.

“Communication is a lot more of a challenge for us with these companies and then they’re running a lot more on the books when it comes to evictions,” Rabe said. “Whereas family owners will treat each situation differently. These big companies will just hire a contract attorney who they will pay on contract rather than on a case by case basis, and if a tenant doesn’t pay their rent they will give them 3 days notice to pay or vacate, and they will file in front of the court, and there is no opportunity to have a conversation.

Notice of eviction
Notice of eviction

Rabe told several stories of clients facing evictions from out-of-state investment firms, including a woman who was taken to court while in hospice and the owner didn’t know. She once spent an entire afternoon on hold with American Homes 4 Rent trying to talk to someone at the company about a family of five who were evicted from a mobile home that the company Purchased in Canyon County with only notices in the mail and no further tracking. at the top.

“We’re actually pulling eviction court records to identify the major evictions, and a lot of them are these big corporations that are coming into Idaho and buying up a lot of multifamily units,” Rabe said. “You don’t even know who to contact.

Cleveland’s pro athletes tend to rent rather than buy homes


Manziel could afford to buy, having grown up on the money before signing a four-year, $8.2 million contract with the Browns in 2015. But the average NFL player earns significantly less coming out of the university.

Before Wyatt Teller became an All-Pro guard for the Browns, he was just a fifth-round pick trying to make the Buffalo team. After being drafted from Virginia Tech in 2018, he signed a four-year contract worth $2.7 million with a signing bonus of $250,000. He moved into an apartment in Hamburg, New York, about 10 minutes from the Orchard Park training facility, and looked set to stay with the Bills, starting the final seven games of the season. Then, 10 days before the start of the 2019 season, he was traded to the Browns.

“I was living in Virginia at the time, and neither of us had ever been to Cleveland, so we had no idea where anything was,” said his wife, Carly, who had just started dating Teller at the time.

Teller added, “I was so focused on learning the playbook that I didn’t have time to look for an apartment. She was like, ‘What can I do for you? ?’ So I kicked him.”

Carly remembers calling the Browns’ offices and asking, “Where do people live in Cleveland, Ohio?” She quickly found him an apartment in Olmsted Falls, near the Berea training center. Most of Teller’s neighbors were of retirement age.

“I think I could get in my truck and be at the facility in 10 minutes,” said Teller, who now lives with Carly in a home in Westlake.

“I still can’t hear the end of it,” Carly said. “I still hear we’re 20 minutes away now.”

The story of the Tellers is typical. Cleveland’s sports teams are (understandably) tight-lipped about their athletes’ housing situation, but renting is common, especially with the Browns and Guardians, MLB’s youngest team. A Guardians source says Jose Ramirez may be the only player to own a home in Cleveland. Manager Terry Francona, who is finishing his 10th season with the club, rents an apartment two blocks from Progressive Field and walks or scooters to work. Most Guardians rent apartments near Crocker Park, with a few others downtown or in Tremont. Many of them choose to buy homes in Arizona to be closer to the Guardians’ Goodyear compound.

The NBA offers a little more security. Thompson bought his lakeside home in Bratenahl for $1.9 million in 2015 after signing a five-year extension. (The house, which was often featured on E!’s “Keeping Up With the Kardashians,” sold for $2.5 million shortly. after being listed.) Kevin Love also lives in Bratenahl, in a $1.25 million home he bought in 2015 and could sell once his contract ends after this season. Current jumpers such as Darius Garland, Jarrett Allen, Evan Mobley and Donovan Mitchell are all signed for at least four more seasons on guaranteed contracts, making buying more convenient, but few are staying long-term. Anderson Varejao still lives in Cleveland and LeBron James has a mansion in Bath where he will one day have to take a bath, but most former Cavaliers move to warmer climes after their careers end.

The NFL is a renter’s paradise, as the average career lasts 3.3 years, or nearly two-thirds of a team’s roster. runs after two years, and few contracts are fully guaranteed outside of Deshaun Watson’s five-year, $230 million deal with the Browns. Most of the Browns live on the West Side in places like Westlake, Strongsville, Avon and Columbia Station, where Jarvis Landry and Odell Beckham Jr. both owned homes. OBJ’s home went on the market in April for $3.3 million and would have found a taker in Juneeven if the house has not yet closed.

That’s no problem for Beckham, who earned $82 million during his NFL career and who signed a five-year, $29 million deal with Nike in 2017. But the average player can’t afford to own homes in multiple cities.

“It’s funny, but a lot of my friends think as soon as you get drafted you’re a millionaire,” said Teller, who signed a four-year, $56.8 million extension last November. “It took me three years to become a millionaire. They see this contract (extension) and think you have all this money right now.

“Careers in the NFL are short. You dream of playing for 10 years or even three years, since that’s when you retire. You hope to earn money outside of football, but you You only have a short time to make money. We’re blessed, but for a lot of guys it’s hard.”

Handelsbanken Business Bank of the Year and Swedish Small Enterprise Bank 2022


The independent Finansbarometern investigation again named Handelsbanken the Investment Bank of the Year, the Bank also ranking among the best Small Business Bank for the 11th consecutive year once the answers have been collected.
Authentic relationships and our position as a lasting and stable partner in the professional paths of our clients are the key to our success,” said Susanna Svartzhead of investment banking at Handelsbanken.

Finansbarometern is one of Sweden leading independent market research, focusing on how companies view their banking relationships. This year, nearly 1,400 companies responded. Customers rated their banks in several categories, including overall satisfaction, price, digital services, advisory services, their product and service offering, and customer service.

“The difference becomes more apparent the smaller the business. Smaller businesses like Handelsbanken the most,” says Christian SundbergCEO of Eastbrook, the organizer of the annual survey.

Christian Sundberg strong points Handelsbanken smooth management of its digital transition, while being able to maintain personalized relationships with its client companies:

“It is extremely important to continue to show care and attention to small businesses. When the future is shrouded in uncertainty, you need to be able to listen and understand how to help your customers meet the challenges that many of them will face,” says Christian Sundberg.

Susanna Svartz finds it inspiring to be able to support customers and work closely with them to find new solutions that simplify their daily operations.

“It is truly a pleasure to be alongside our customers on their travels, and this is what motivates us to continue to improve and develop our offer. We take this opportunity to once again express our gratitude to our business customers for their trust,” said Susanna Svartz.

Find out more about the winners of the Finansbarometern for 2022.

For more information, please contact:

Press service Handelsbanken, [email protected], +46 8 701 80 18

For more information on Handelsbankensee: www.handelsbanken.com


(c) Decision 2022. All rights reserved., sources Press Releases – English

Enterprise Rent-A-Car Foundation pledges $30 million to The Nature Conservancy to improve the health of rivers and freshwater ecosystems


Donation extends Enterprise’s “roads and roots”®: Five-year Healthy Rivers Project” and strengthens its commitment to causes that positively impact employees and customers

ST. LOUIS, September 13, 2022 /PRNewswire/ — The Enterprise Rent-A-Car Foundation today announced a $30 million donation to The Nature Conservancy. The gift extends the “Roads and Roots: Enterprise Healthy Rivers Project“, which supports The Nature Conservancy’s efforts to support the protection, restoration, and sustainable management of rivers and other freshwater ecosystems globally. The “Roads and Roots: Enterprise Healthy Rivers Project” was first established in 2017, when the Enterprise Rent-A-Car Foundation pledged an initial five-year term, $30 million donation to The Nature Conservancy. This latest donation, which will also be spread over a five-year period, will further benefit many of the world’s most vital rivers, watersheds, streams and more.

“At Enterprise, we are passionate about supporting causes and initiatives that positively impact the communities where our employees and customers live and work,” said Caroline Kindle, Chairman of the Enterprise Holdings Foundation. “Our ‘Roads and Roots’ program is a shining example of this feeling. Our employees are deeply passionate about this initiative, and we look forward to seeing the continued progress this program will have on many of the world’s most vital waterways. »

Support for The Nature Conservancy through the “Roads and Roots: Enterprise Healthy Rivers Project“has already achieved significant conservation results at these estimated scales1:

  • Securing or improving the health of nearly 5,400 river miles
  • Keeping 54 million pounds of pollutants out of rivers and streams
  • Conserve 7 million acres of land
  • Take action that helps improve water security for 78 million people

Over the next five years, The Nature Conservancy will use the donation from the Enterprise Rent-A-Car Foundation to continue conserving rivers and other freshwater ecosystems around the world. Targeted geographies include:

  • United States – The funding will support many US rivers, with a particular focus on the Colorado River Basin and the Mississippi River Basin.
  • Canada – Funding will support Indigenous-led land and water conservation, including in Canada’s boreal and coastal region. British Columbia.
  • Europe – The funding will help ensure that The Nature Conservancy’s proven scientific approaches to river protection are shared across the continent to help create more resilient watersheds and protect and restore rivers.

“Business has a vital role to play in protecting nature and Enterprise has demonstrated its commitment to this work over the past five years – and is now ensuring it will continue for the next five years,” said jennifer morris, CEO of The Nature Conservancy. “This generous donation will continue the work of not only protecting freshwater, but also the communities that depend on it.”

In addition to “Roads and Roots: Enterprise Healthy Rivers Project“, the Enterprise Rent-A-Car Foundation oversees a variety of initiatives aimed at positively impacting the communities where its employees and customers live and work. Examples:

  • Enterprise Holdings ROAD Forward – Enterprise announced for the first time its ROAD Forward commitment of $55 million in November 2020. The initiative focuses on Rrespect, Oopportunity, Aachievement and D(ROAD) for Youth and Families by helping to address three areas that need urgent attention: early childhood development, youth health and well-being, and career and college readiness. Through the ROAD Forward program, annual grants are distributed locally to address social and racial equity issues.
  • Enterprise 50 Million Tree Pledge – Created in honor of 50 years of Enterprisee anniversary and to thank customers for their longstanding support, this program funds the planting of 50 million trees across the United States, Canada, France, Germany, Spain and the UK
  • Enterprise Fill Your Tank® Program – Created in honor of the 60e anniversary at the end of 2016, this program is committed to fighting against food insecurity in the world. In 2020, the Foundation announced a reinvestment in the program and pledged additional funding $65 million in Enterprise Fill Your Tank to fight food insecurity. This brings Enterprise’s total financial commitment to the program to $115 million annually.

“Giving back is part of our DNA,” Kindle said. “Since its creation in 1982, our Foundation has donated over $520 million to thousands of non-profit organizations focused on community betterment, education, and environmental stewardship.”

For more information on Enterprise’s philanthropic initiatives, visit https://www.enterpriseholdings.com/en/corporate-social-responsibility/philanthropic-initiatives.html.

About Enterprise Holdings
Enterprise Holdings is a leading provider of mobility solutions, owning and operating the Enterprise Rent-A-Car, National Car Rental and Alamo Rent a Car brands through its integrated global network of independent regional subsidiaries. Enterprise Holdings and its affiliates provide a wide range of car rental services, car sharing, truck rental, fleet management and car retailing, as well as travel management and other transportation services, to make travel easier and more convenient for customers. Private company owned by the taylor Family of Saint Louis, month., Enterprise Holdings manages a diverse fleet of more than 1.85 million vehicles through a network of nearly 10,000 fully-staffed neighborhood and airport rental locations in more than 90 countries and territories.

About The Nature Conservancy
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so nature and people can thrive together. We fight climate change, conserve land, water and oceans on an unprecedented scale, provide food and water sustainably, and help make cities more sustainable. Working in 72 countries, we use a collaborative approach that involves local communities, governments, the private sector and other partners. To learn more, visitwww.nature.org or follow @nature_presson Twitter.

1 Source: The Nature Conservancy

SOURCE Enterprise Holdings, Inc.

Comprehensive Overview of Oilfield Equipment Rental Market by Growth Rate, Industry Status, Forecast to 2029


Oilfield Equipment Rental Market Size, Industry Share & Analysis, By Equipment (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Other Equipment), By Application (Onshore , offshore) and regional forecast, 2022-2029

Market size available for years:2022-2029
CAGR value:
CAGR hitting in %
Reference year considered:2021
Historical data:2018-2020

The global Oilfield Equipment Rental Market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2029. In 2021, the market is growing at a steady rate and with rising adoption of strategies by major players, the market is expected to rise above the projected horizon.

TheOilfield Equipment Rental Market Size| Global Energy and Power Industry Analysis By Covid-19 Impact, Size, Trends, Growth, Share, Company, Key Players, Merger, Statistics, Competitive Landscape and Regional Forecast to 2029 is the latest study published by Fortune Business InsightsThe growth rate or CAGR exhibited by a market for a given forecast period is calculated based on various factors and their level of impact on the market.

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Industry key development:

Industry Globalization Factors:

The high-impact factors and renderers have been studied in this report to help readers understand the overall development. Additionally, the report includes constraints and challenges that can be stumbling blocks in the players’ path. This will help users make informed, meticulous business-related decisions. The experts also focused on the upcoming trade prospects.

Oilfield Equipment Rental Market COVID-19 Influence Analysis:

  • Market size before and after COVID-19
  • A qualitative survey of the long-term and short-term influence of COVID-19 on the industry
  • The analysis provides the key approaches taken by competitors to minimize the impact of outbreaks on their business operations and scope for future developments.

Entering a post-COVID economy: how the energy and power industry will play a vital role in its recovery.Request a sample copy

The study provides an analysis of market players, including:

  • BJ Services
  • hugue baker
  • Bechtel Company
  • COSL – China Oilfield Services Limited
  • Halliburton
  • McDermott International Inc.
  • Varco National Oil Well
  • Petrofac
  • Stallion Oilfield Services.
  • Superior energy services
  • Technip
  • Transocean
  • Weatherford
  • Wood
  • Worley
  • a GE company
  • Schlumberger

Sector outlook

The key segments including types and applications have been detailed in this report. Verified market report consultants have studied all segments and used historical data to provide market size. They also discussed the growth opportunities the segment could represent in the future. The study provides production and revenue data by type and application over the past period and the forecast period (2022-2029).

Report Highlights:

Industry Overview:The first section of the research study covers an overview of the global Oilfield Equipment Rental market, market status and outlook, and product scope. Further, it provides highlights of major segments of the global Oilfield Equipment Rental market i.e., region, type, and application segments.

Competitive analysis:This report throws light on significant mergers and acquisitions, business expansion, product or service differences, market concentration, global Oilfield Equipment Rental Market competitive status and market size by player .

Company profiles and key data:This section covers the companies featuring leading players of the global Oilfield Equipment Rental Market based on revenue, products, activities, and other factors mentioned above.

Market Size by Type and Application:Besides providing an in-depth analysis of the global Oilfield Equipment Rental market size by type and application, this section provides research on major end-users or consumers and potential applications.

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Detailed TOC of Global Oilfield Equipment Rental Market Report 2022

Detailed TOC of Global Oilfield Equipment Rental Market Report 2022

  • 1 Presentation of the report
    • Search scope
    • Market Segment by Type
      • Global Oilfield Equipment Leasing Market Size Growth Rate by Type
    • Market Segment by Application
      • Global Oilfield Equipment Rental Market Share by Application
    • Others
      • Study objectives
      • Years considered
    • Market perspective
      • Global Oilfield Equipment Leasing Market Size (2022-2029)
        • Global Oilfield Equipment Rental Market Revenue (2022-2029)
        • Global Oilfield Equipment Rental Market Sales (2022-2029)
      • Global Oilfield Equipment Leasing market size by key geographies of the world:
        • Global Oilfield Equipment Rental Market Sales by Regions (2022-2022)
        • Global Oilfield Equipment Leasing Market Revenue by Region (2022-2022)
      • Global Oilfield Equipment Leasing Market Size Forecast by Region
        • Global Oilfield Equipment Rental Market Sales Forecast by Region (2022-2029)
        • Global Oilfield Equipment Rental Market Revenue Forecast by Region (2022-2029)
      • Global Oilfield Equipment Rental Market Regions (Countries) Ranking by Market Size
      • Oilfield Equipment Rental Market Industry Trends
        • Oilfield Equipment Rental Market Trends
        • Oilfield Equipment Rental Market Drivers
        • Oilfield Equipment Rental Market Challenges
        • Constraints in the oilfield equipment rental market
      • Competitive landscape by manufacturers
      • Global Oilfield Equipment Rental Market Size by Type
      • Global Oilfield Equipment Rental Market Size by Application
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa
      • Company Profiles
      • Analysis of the value chain and sales channels
      • Research results and conclusion
      • Annex


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Mercury launches corporate payment card, entering crowded Fintech realm that includes Brex and Ramp


After three years of offering banking services to startups, San Francisco-based Mercury is launching a corporate payment card called IO. The corporate card market is an increasingly crowded fintech sector with companies such as Brex, Ramp, Divvy and Rho all competing to leverage technology to provide better financial tools for businesses, including maps.

Since its inception in 2017, Mercury’s plan has been to offer small startups their most basic financial needs – a bank account – first, then roll out more advanced products as their clients’ businesses grow. . Mercury launched its business bank account in 2019 in partnership with FDIC-insured banks Choice Financial Group and Evolve Bank & Trust. In a $120 million funding round in July 2021 from investors including Coatue and Andreessen Horowitz, Mercury secured a $1.6 billion valuation.

Over the past year, Mercury has rapidly expanded its customer base, from 45,000 businesses at the end of 2021 to 80,000 today. Its customers are typically small businesses – only about 2,000 of them have more than $1 million in their accounts. Mercury’s IO Card goal is to serve startups that are often too small to qualify for existing corporate card programs or, if eligible, receive insufficient credit limits.

“Our approach has always been to serve the smallest customers from day zero,” said Immad Akhund, 38-year-old founder and CEO of Mercury. “We need to be able to support customers when they’re really tiny, so we’ve designed our processes to scale from the smallest customer to the largest.”

Earlier this summer, corporate card competitor Brex announced it would close accounts for small and medium-sized businesses as it focuses on serving business customers, except for capital-backed startups. risk. Rho focuses on medium-sized businesses with revenue between 10 million and 1 billion dollars. Ramp targets a wide range of businesses, from small to medium-sized businesses.

Prior to founding Mercury, Akhund founded two other companies and was a part-time partner at prominent startup accelerator Y-combinator, which helped launch companies such as Airbnb, Coinbase and Dropbox.

“As an entrepreneur, I was just very frustrated with the banks we had to use,” says Akhund. “The products barely worked, kept breaking, had a lot of charges and it was really difficult to use customer service. So all these frustrations that everyone has with banks – I couldn’t see why we couldn’t do better.

The IO Card offers 1.5% cash back on all purchases, with no annual fee or personal guarantee by a business owner required. Mercury customers can issue corporate cards to their employees for expenses ranging from subscriptions to business-related tools to travel, and the cards also allow expense controls like customizable limits on an employee-by-employee basis.

IO cardholders are responsible for monthly bill payments – this is not an ongoing credit instrument. For now, Mercury funds the cards, which are typically redeemed within 15 days, using its own balance sheet. The company has enough cash to cover short-term expenses, Akhund says, but the next phase of growth will likely involve partnering with a bank to fund that shortfall.

As businesses evolve and their expenses increase, they need corporate cards for employees to cover business expenses such as travel. For decades, this market has been dominated by AmEx, which offers sleek cards with generous rewards, including travel discounts or employee gift cards. In recent years, fintech challengers have entered the market, often combining software with financial services to offer expense management tools or more flexible card options.

Brex and Ramp, two of the biggest names in the space, launched their corporate cards in 2018 and 2020, respectively. Rho launched its corporate card last year. In January, Brex closed a funding round with a valuation of $12.3 billion, and two months later Ramp secured a valuation of $8.1 billion. While competitors like Ramp and Brex started with a corporate card and then added features like budget management tools, Mercury started wi