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JACKSONVILLE, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ-LSTR), a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation logistics services, announced that on December 9, 2024, its Board of Directors has declared a special one-time cash dividend in the amount of $2.00 per share, payable on January 21, 2025, to stockholders of record as of the close of business on January 7, 2025. “Landstar’s strong balance sheet and free cash flow generation enable us to continue to return value to our stockholders,” said Landstar President and Chief Executive Officer Frank Lonegro. The Company purchased a total of 452,019 shares of its common stock at an aggregate cost of approximately $82.1 million during the first 11 months of its 2024 fiscal year. The Company also returned $120.5 million to stockholders in the form of cash dividends paid on shares of its common stock during the 2024 fiscal year. As previously reported, as of September 28, 2024, the Company had $531 million in cash and short-term investments. The Company intends to continue to use its available free cash flow to opportunistically purchase its stock under its stock purchase program. About Landstar: Landstar System, Inc., is a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market® under the symbol LSTR. Forward Looking Statements Disclaimer: The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are “forward-looking statements.” This press release contains forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Terms such as “anticipates,” “believes,” “estimates,” “intention,” “expects,” “plans,” “predicts,” “may,” “should,” “could,” “will,” the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; the impact of the Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company’s largest such agent by revenue in the 2023 fiscal year; decreased demand for transportation services; U.S. trade relationships; substantial industry competition; disruptions or failures in the Company’s computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; regulations requiring the purchase and use of zero-emission vehicles; intellectual property; and other operational, financial or legal risks or uncertainties detailed in Landstar’s Form 10-K for the 2023 fiscal year, described in Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.
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New pro-European coalition approved in Romania amid period of political turmoilWASHINGTON (AP) — A machinists strike. Another safety problem involving its troubled top-selling airliner. A plunging stock price. 2024 was already a dispiriting year for Boeing, the American aviation giant. But when one of the company's jets crash-landed in South Korea on Sunday, killing all but two of the 181 people on board, it brought to a close an especially unfortunate year for Boeing. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekStock market today: Wall Street slips to a rare back-to-back loss
What's New A Brooklyn real estate developer implicated in a high-profile corruption investigation involving New York City Mayor Eric Adams is set to plead guilty to conspiracy charges, federal prosecutors said on Monday. Erden Arkan, a co-owner of the luxury construction firm KSK, has been accused of collaborating with a Turkish government official to funnel illegal campaign contributions to Adams. Why It Matters Arkan's guilty plea would mark the first in a case that has drawn significant attention to the mayor's fundraising practices and political alliances. Adams, a Democrat, is facing a federal investigation over alleged fraud and corruption, including claims of accepting luxury travel benefits worth more than $100,000 and illegal campaign donations from foreign nationals. He has pleaded not guilty. Multiple members of his administration are also being probed. What To Know According to court filings, Arkan plans to admit to charges of conspiracy to commit wire fraud by collecting campaign contributions for Adams that were made under the name of someone other than the true contributor. Prosecutors say Adams improperly used these funds to qualify for public matching funds, a program designed to amplify small-dollar contributions Adams has maintained his innocence, pledging to "fight the charges with every ounce of my strength." Arkan's firm's ties to Adams emerged in November 2023 as investigators searched his residence, along with the home of Adams' chief fundraiser and his liaison to the Turkish community. The indictment against Adams details a 2021 dinner where he allegedly solicited illegal contributions directly from Arkan, referred to in court documents as "Businessman-5." Soon after, Arkan hosted a fundraiser for Adams at KSK's Brooklyn headquarters. Prosecutors allege that Arkan reimbursed employees who donated between $1,200 and $1,500 to the campaign, a practice that constitutes illegal straw donations. Arkan later confirmed to the FBI that he had spoken to the Turkish official about the fundraiser. He initially denied reimbursing his employees, prosecutors said. Court documents also highlight Arkan's reluctance about the scheme, citing comments he made to others in New York's Turkish community that it "may feel like swimming against the current but unfortunately this is how things work in this country," according to the indictment. What People Are Saying An attorney for Adams, Alex Spiro, said in an emailed statement to The Associated Press (AP) that the decision would have "no bearing on the Mayor's case whatsoever." "We know from the government's own interviews that Mr. Arkan repeatedly said that Mayor Adams had no knowledge of his actions," Spiro said. According to the AP, a lawyer for Arkan did not immediately respond to the new agency's request for comment A Mounting Scandal For Adams While Adams has pleaded not guilty to all charges, the case has compounded an already difficult period for his administration. High-profile resignations, including those of his police commissioner and multiple deputy mayors, have been accompanied by separate corruption probes. Most recently, Ingrid Lewis-Martin, Adams' former top adviser, was charged with accepting bribes to expedite real estate approvals. What Happens Next As Adams prepares for his trial in April, the plea agreement from Arkan is expected to play a role in the broader investigation into the mayor's alleged conduct. This article includes reporting from The Associated Press.
Scottie Scheffler named PGA Tour player of the yearYahaira Plasencia has generated a stir on social networks after responding to an imitation made by Daniela Darcourt. The salsa singer, known as the ‘Patrona’, made her feelings clear with a forceful message: “I am the original.” At a recent year-end event, Daniela Darcourt surprised her followers with a parody of Yahaira Plasencia, unleashing a wave of criticism and comments on the networks. Plasencia’s reaction was immediate and, through his social networks, he sent a hint that many consider directed at Darcourt. What was Yahaira Plasencia’s reaction after Daniela Darcourt’s imitation? Yahaira Plasencia responded forcefully to the imitation of Daniela Darcourt. The salsa singer shared on her social networks a short video of one of her shows where she performed her song ‘La Original’. In the video you can hear him singing: “I already passed you by and you didn’t even notice, so don’t imitate me anymore, because when it comes to dancing I have my own way, I am the original and the others are copies.” and you know that well.” This response made it clear that Plasencia did not take imitation of his style lightly. The video quickly went viral and followers of both artists began to debate on social networks. Many interpreted Yahaira’s publication as a message to Daniela. Daniela Darcourt surprised with an imitation of Yahaira Plasencia At a year-end event with his workers, Daniela Darcourt made a parody of the style of Yahaira Plasencia . The video of the imitation went viral, generating various reactions. During her performance, Daniela replicated Plasencia’s signature dance moves, while laughingly saying, “I really listen to you, Yahaira.” Darcourt’s imitation not only attracted attention for its execution, but also for the message it sent to Yahaira Plasencia: “I send you a kiss, many blessings to you and your entire musical family.” Additionally, when asked to perform a Yahaira song, Daniela chose ‘Cobarde’, and not only sang it, but also danced in Plasencia’s style, which some fans applauded for her skill and versatility. Join our entertainment channel
