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NoneA mystery is unfolding over a single Olive Garden breadstick. On Nov. 16, a TikTok user about an unfortunate extra they received with an order of breadsticks at the popular pasta chain. “Guys, why is there letters on my Olive Garden breadstick?” the user asked. The post consists of a single picture: a hand holding a half-eaten breadstick with the letters “O” and “K” as well as the number “6” in black printed text on its side. The image-based TikTok quickly went viral, amassing more than 4 million views and thousands of comments. “I’ve worked there and I’ve never seen this before 😭,” one user, and another , “How did it happen though?” “They’re from frozen bags so the label must’ve like gotten on that one,” one user . Other commenters who claimed to be or also thought the text was part of the coding on plastic bags that the sticks come in. “it’s like when you do the tongue tattoos with fruit rollups the print stuck onto the bread but just a thought,” one . Others chimed in with similar experiences they had while eating out at restaurants. “THIS HAPPENED TO MY FAMILY WHEN I WAS A KID!!!” one user . “they gave us a pizza w receipt ink on the cheeze we could literally read it all😭😭 we got free dessert.” “One time I had a price tag on the bottom of my egg bite from starbucks,” another , and when the original poster them if they ate it, the user , “I was hungry what can I say.” Neither the TikTok user nor representatives for Olive Garden immediately responded to TODAY.com’s request for comment. But the official Olive Garden account the following on the TikTok: “We are concerned to see this. Can you please send an email to social@olivegarden.com with your full name, and the location you went to?” Four days later, the TikToker and Olive Garden seemingly got in touch over email. Even though every Olive Garden entrée comes with a never-ending first course of soup or salad and breadsticks, the chain gifted the TikToker with a $100 gift card for the error. The user to their account on Nov. 20, four days after their breadstick blunder. “Thank you olive gardens,” the TikToker wrote over a screenshot of an email from Olive Garden. Commenters lauded the chain for its response. One , “Now that’s good service,” and another , “Olive Garden don’t play AROUND.” “How do I get numbers on my breadstick?” someone else . For now, this mystery surrounding the unlimited carb remains unsolved. Washington, D.C. native Joseph Lamour is a lover of food: its past, its present and the science behind it. With food, you can bring opposites together to form a truly marvelous combination, and he strives to take that sentiment to heart in all that he does.
Kirk LaPointe: Alberta's 'get things done' edge leaves B.C. behind in investment race From permits to profits, neighbouring province's model proves hard to beat Kirk LaPointe Nov 27, 2024 12:00 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Alberta's proactive investment strategy, led by Invest Alberta, is attracting businesses with swift regulatory changes, lower costs, and a "get things done" approach, positioning the province as a more attractive destination than British Columbia. Photo via benedek/E+/Getty Images Listen to this article 00:05:18 Dow wanted to expand its Path2Zero zero-emission project from outside Fort Saskatchewan with a significant investment, but didn’t think the province’s depreciation rates were suitable. No problem: the rates were changed by the province – in seven days. The international pulp and paper behemoth, Mondi, wanted to promptly get environmental permits to move into the province. No problem: the permits came from the province in a speedy 90 days. The problem was: the province was Alberta, not British Columbia. And a bigger problem looms: Alberta is more aggressively big-game-hunting for investment now in Vancouver. It has opened an office here of the prodigious Crown corporation, Invest Alberta, and hired what it calls an “investment attraction advisor” – Brock Lalla, a former economist with PwC’s Canadian economic and policy practice. Based on its history of less than a half-decade, it would not be surprising to see some serious migration and expansion of B.C. businesses into our neighbouring province. In four years, Invest Alberta has attracted $24.9 billion in investment from around the world, counting for 33,481 jobs. Its CEO is himself a Vancouver expat appointed in 2021, Rick Christiaanse, and in keeping with the red-tape-averse culture, he reports directly to Premier Danielle Smith and not into the province’s bureaucracy. It is old news now that Alberta can put to shame most anything British Columbia might try to make for a better business and worker climate. Corporate taxes and housing prices are lower, salaries are higher, regulations are changed faster, construction permits are swifter. Little wonder an Angus Reid Institute poll earlier this year indicated more one-third of British Columbians – and half of all young people – were seriously considering leaving because of housing unaffordability. But housing costs are simply a symptom of a wider ailment, some of it tangible and some of it attitudinal. “Alberta’s claim to fame is that it can get things done,” Christiaanse told me. “We were in the wilderness for 10 years. We got desperate enough here that we had to figure out how to do this.” What it does is court investment, offering a concierge-like tailored suite of services to smooth the entry into the market – navigational assistance to streamline setup, marketing intelligence, networking leads, after-care services – in using its 17 offices worldwide to scout and secure significant investment. What it doesn’t do, though, might surprise you: It won’t write any cheques when business comes calling. It refuses to engage in the race to the bottom that many American cities and states will. “Our cheque-writing capacity is zero,” he says. “If you’re looking for a subsidy, that’s not our province.” Christiaanse, whose career includes stints as chief operating officer of the Skidmore Group and senior director of sales and marketing for Telus International, has been campaigning of late to demonstrate Alberta is not simply an oil and gas province. The province leads Canada in renewable energy growth. Amazon is building its first Canadian wind farm in southern Alberta; it already owns a solar project in the province, one of the largest in North America. Edmonton alone has four $1-billion-plus hydrogen energy plants under construction. Japanese firms Sumitomo and Itochu have extensive climate-change mitigation projects there. It is Alberta’s access to abundant energy, though, that often clinches the deal. “B.C. can’t build any more dams,” he notes. Mainly, he says though, business is saying: “I want stability.” The BC NDP government has its hands full at the moment, with a large and expanding deficit, declining per capita GDP, expensive health-care challenges, a CleanBC plan that will be costly across the province’s economy and relatively little business savvy at the helm. Even former NDP premier Glen Clark chided the Eby government to focus more on wealth creation than wealth redistribution. Christiaanse defines the challenge little differently than Clark: “We see the role as building prosperity.” What the world is saying when it takes its investment elsewhere are three things, he notes: “Bring me food security. Bring me energy security. And lately, bring me cybersecurity.” He plays down any B.C.-Alberta rivalry. “We need to be aligned,” he says. But he also notes that Alberta “had to hit rock bottom” before it initiated the changes it now offers investors as a calling card, without specifically suggesting that’s where B.C. now finds itself. “Vancouver is an incredible place to live,” he says. “But if you’re looking to take your business to a new level . . .” Kirk LaPointe is a Glacier Media columnist with an extensive background in journalism. See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up Related Kirk LaPointe: John Horgan made his mark mixing fiscal competence with social prescription Nov 13, 2024 11:30 AM Opinion: Trump 2.0 will be a test of Canada's resolve Nov 6, 2024 11:00 AM Opinion: Time to tackle the scourge of online anonymity and political intimidation Nov 4, 2024 11:30 AM Opinion: Rebuilding trust in journalism starts with busting misconceptions Oct 30, 2024 4:30 PM
‘Squid Game’ Returns With A Vengeance: Creator Hwang Dong-Hyuk & Star Lee Jung-Jae Reveal WhyWith the holiday season now underway, Visa, the global leader in digital payments, reminds shoppers to stay vigilant amidst a rise in fraud schemes. Visa’s Payment Ecosystem Risk and Control (PERC) team released the 2024 Holiday Threats Report, outlining common methods fraudsters use to steal money, data, and account details while people plan their festivities. Top holiday shopping scams one should be aware of are: Phishing and social engineering: Scammers impersonate trusted sources to steal personal information through emails, texts, and calls. Consumers should be wary of common scams to obtain financial details, like emails/texts about fraudulent Black Friday deals, travel discounts, and package delivery updates. They also orchestrate more sophisticated frauds like digital arrests where one is held ransom through their phone on false pretexts that can be very harrowing for the lay consumer. Fraudsters also use real platforms to post fake job ads and demand payments for false expenses like background checks. Consumers should also be careful before donating to charities they don’t know. Scam websites: Fake online stores and imitations of real brands are a growing threat in e-commerce. Such sites have increased with scammers building almost legitimate looking websites, and using search engines and social media ads to attract buyers with unrealistic deals on luxury or popular items, with no delivery of goods. Consequently, victims could either lose money or share sensitive information that fraudsters use for other nefarious activities. Travel scams: The holiday season sees many fraudulent travel websites positioned as authentic and appealing, with deals like “last minute price drop”. Scammers make these websites as close to real as possible and offer discounts on travel-related expenses like flights, taxis and hotels. Consumers may also receive phishing emails with fake flight cancellation notices and be asked to pay for re-booking, or see advertisements with fake vacation rentals at low prices, that collect deposits for non-existent properties. Consumers should steer clear of malicious festival-based apps like Santa Trackers or holiday planners that are loaded with malware. These apps can steal login and payment details once downloaded. Theft and skimming: Always be vigilant in busy malls and public spaces that are hotspots for thieves. Common risks include physical theft or pickpocketing of cards and wallets. Beware of skimming devices fitted on legitimate ATMs or payment terminals to collect card information; always choose to tap and pay where possible. How you can stay safe: Visa offers these tips to protect yourself during the holiday season. • Don’t click on links in unsolicited/unknown emails or texts • Check websites for legitimacy before making purchases. Genuine URLs will ideally start with “https://” • Use only trusted platforms or agents for travel bookings • Keep wallets and devices secure in crowded places • Report suspicious activity at ATMs or payment terminals immediately to the nearest authority As a shopper, stay alert and informed to shop and spend safely and enjoy a worry-free holiday season. For more tips, visit Visa’s website and for more information on scams, read the 2024 Holiday Threats Report by Visa.
Arcane‘s Wild Overseas Censorship Edits Have Fans in Hysterics
A Nigerian woman has expressed her joy on social media following the completion of her family's mansion In a video, she displayed the transformation of the building project which started in May, 2024 and ended in December Social media users who came across the video on the TikTok app stormed the comments section to congratulate the couple CHECK OUT: Learn at Your Own Pace! Our Flexible Online Course allows you to fit copywriting skills development around your busy schedule. Enroll Now! A Nigerian woman recently took to social media to share her excitement as she and her husband completed their luxurious family mansion. The impressive edifice, which was built from scratch, was captured in a video that showed its transformation. Woman shares transformation of family's building project In the video shared by the woman identified with the handle @ mummyariana02 on TikTok , she showed the construction process, from the laying of the foundation to the final finishing touches. PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! According to her, they began the project on May 5th, 2024 and completed it by December 23rd, 2024. Read also Nigerian lady living in UK cries out as rats ravage her home and destroy properties, video trends "Congratulations to me and hubby. Latest house owners. Started 5th of May 2024, Ended 23rd December, 2024," she said. Reactions trail video of couple's mansion The woman's post was met with an outpouring of congratulatory messages and well-wishes from TikTok users who were impressed by the couple's achievement. @lavubucite said: "How can I get the plan of this same house I love what I see and will love to build same please help a brother." @Enuma Uche said: "I tap from ur blessings. My 2025 shall be full of congratulations in Jesus mighty name Amen. A BIG CONGRATULATIONS TO U MY SISTER." @Nazhatluxuryventures said: "Congratulations. I tap from your bls. I am not even talking about my own but my parents. I really really want to build house for my parents. I know and believe wat God cannot do does not exist." @mercytony92 added: Read also Little boy who used to play with sand in Nigeria now enjoys snow as family relocates to US "This is how I am going to say congratulations to me and my husband next year. I never marry ooo but I know say e go sure for me and him." @Evidoski added: "My friend would say what money can't do, more money can do. Congratulations and God bless your new home." Watch the video below: Man flaunts his car and house Meanwhile, Legit.ng previously reported that a happy Nigerian man could not hide his joy after acquiring a luxurious car and house. In an intriguing video, he made it clear that he got the assets in 2024 despite the challenges he faced along the way. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ng
America's longest-running fundraising campaign that helps 27 million people kicks off at the Dallas Cowboys Thanksgiving game ARLINGTON, Texas , Nov. 27, 2024 /PRNewswire/ -- The Salvation Army invites communities across the country to join in the spirit of giving with the launch of its 134th Red Kettle Campaign, officially kicking off during the Dallas Cowboys Thanksgiving Day game tomorrow against the New York Giants, airing on Fox at 3:30 p.m. CST . This year's Red Kettle Kickoff will feature a halftime performance by Grammy Award-winning ACM and CMA Entertainer of the Year country music star Lainey Wilson and a special guest, marking the start of a season dedicated to helping those in need through various Salvation Army programs. Experience the full interactive Multichannel News Release here: https://www.multivu.com/the-salvation-army/9294953-en-salvation-army-red-kettle-campaign-launches-dallas-cowboys-lainey-wilson Wilson will perform hits from her new album, "Whirlwind," to highlight both the need for giving this holiday season and the impact of The Salvation Army's work in communities across the country. Since teaming up in 1997, The Salvation Army and the Cowboys have helped raise more than $3 billion for the campaign. "It's an honor to be part of the Red Kettle Kickoff tradition with The Salvation Army and the Dallas Cowboys. The holiday season is about giving back and coming together, so we can make a real difference in people's lives this Christmas," said Wilson. "Bring your bell-bottoms and some bells for ringing because we're about to get this show on the road!" For nearly three decades, the Dallas Cowboys and The Salvation Army have joined forces on Thanksgiving Day to amplify the mission of the Red Kettle Campaign, which funds vital services for individuals and families facing hardship. Last year alone, funds raised through the campaign supported over 27 million people with resources such as food, shelter, holiday gifts, and emergency financial assistance throughout the year. "The Red Kettle Campaign is a wonderful reminder that small acts of generosity can make a big difference," said Charlotte Jones , chief brand officer and co-owner of the Dallas Cowboys and former national advisory board chairperson for The Salvation Army. "Every dollar donated helps The Salvation Army bring hope and support to those in need, and we couldn't be more appreciative to Lainey Wilson for helping us kick off this important effort. She perfectly captures the heart of this campaign, inspiring fans to make a difference for those who need it most." As the nation's largest private provider of social services, The Salvation Army faces a unique challenge this year. "With five fewer kettle giving days this year, donations are needed more than ever to meet the increasing demand for essential resources, especially as families continue to face economic challenges," said Commissioner Kenneth Hodder , national commander of The Salvation Army. " Lainey Wilson's heart for giving back resonates deeply with the spirit of the Red Kettle Campaign. We hope her performance inspires people to come together to support those facing hardship this season." The official launch of the Red Kettle Campaign means that thousands of volunteers will be ringing bells at kettles across the country located outside storefronts at Walmart, Sam's Club, Kroger Family of Stores, Hobby Lobby, Mardel, Walgreens, Rite-Aid, Bass Pro Shops, Cabela's, JCPenney, Food Lion, Redner's Markets, Boscov's, Dillard's, Big Lots, Macerich Shopping Centers, and hundreds of local partners. At each location, people can donate cash, coins, and checks or digitally with Apple Pay, Google Pay, PayPal, and Venmo. Additionally, people can support their neighbors through their local Salvation Army by: Every donation stays in the community to provide help and hope for those in need. To learn more, give help, or get help, please visit www.SalvationArmyUSA.org . About The Salvation Army The Salvation Army annually helps more than 27 million people in America overcome poverty, addiction, and economic hardships by preaching the gospel of Jesus Christ and meeting human needs in His name without discrimination in nearly every ZIP code. By providing food, shelter, eviction prevention assistance, emergency disaster relief, rehabilitation, after-school and summer youth programs, spiritual enrichment, and more, The Salvation Army is doing the most good at 6,400 centers of operation around the country. For more information, visit SalvationArmyUSA.org . Follow us on X @SalvationArmyUS and #DoingTheMostGood. About the Gene and Jerry Jones Family Foundation In the area of community service, the mission of the Dallas Cowboys and Jones Family Foundation is built upon the philosophy of helping those who don't have the strength, resources, or means to help themselves, with a primary focus on a partnership with The Salvation Army. Because the Cowboys organization has enjoyed immense and unprecedented success, the Jones family feels a very strong obligation to take the visibility, energy, and celebrity of one of the world's most powerful sports franchises and channel these dynamic forces toward the bigger purpose of making a difference. Recognized as one of the world's most generous families, the Joneses enlist the talents, skills, and resources of all the Cowboys players, coaches, cheerleaders, and members of the organization to provide a unique and cutting-edge approach to community outreach. More information about the Dallas Cowboys and the Gene and Jerry Jones Family Foundation can be found at https://www.dallascowboys.com . About Lainey Wilson Country music trailblazer Lainey Wilson has captured the hearts of music fans, the excitement of the industry and the recognition of her peers, while keeping her boots firmly planted on the ground. In the midst of a landmark year, Wilson won Female Vocalist of the Year and Music Video of the Year ("Wildflowers and Wild Horses") at the 58th Annual CMA Awards, which she also hosted with Luke Bryan and Peyton Manning , and is nominated for Best Country Album at the upcoming Grammy Awards for her acclaimed new album, Whirlwild . "The best release of her career" ( The Tennessean ), Whirlwind debuted at #8 on the all-genre Billboard 200 chart, and #13 on the U.K. Official Albums Chart, marking Wilson's first top 10 and top 15 entry respectively. The prolific, sought-after songwriter has also scored seven No. 1 hits and has become a triple threat within entertainment as singer, songwriter and actor, making her acting debut in season 5 of Paramount's hit series Yellowstone . Earlier this year, Wilson was also inducted into The Grand Ole Opry and recently wrote and recorded "Out of Oklahoma ," her original song for Universal's blockbuster Twisters . Media Contact: Brooke McGriff 940.363.0336 Cell brooke@genuinearticlecomms.com View original content: https://www.prnewswire.com/news-releases/the-salvation-armys-annual-red-kettle-campaign-launches-with-the-help-of-the-dallas-cowboys-country-star-lainey-wilson-and-special-guest-302317802.html SOURCE The Salvation ArmyAgreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation satellite communications technologies for Bombardier aircraft Aftermarket offerings and new technologies provide Honeywell revenue potential of up to $17 billion over life of agreement All legacy pending litigation between the companies has been resolved CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Segment profit, on an overall Honeywell basis; Segment profit margin, on an overall Honeywell basis; Organic sales growth; Free cash flow; and Adjusted earnings per share. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell
White House urges crackdown on US telecoms after massive Chinese hack
Trudeau government made errors in providing COVID relief to small business during the pandemic: AG reportThe large package of aid includes a significant amount of munitions, including for the National Advanced Surface-to-Air Missile Systems and the Hawk air defence system. It also will provide Stinger missiles and 155mm and 105mm artillery rounds, officials said. The officials, who said they expect the announcement to be made on Monday, spoke on condition of anonymity to provide details not yet made public. The new aid comes as Russia launched a barrage of attacks against Ukraine’s power facilities in recent days, although Ukraine has said it intercepted a significant number of the missiles and drones. Russian and Ukrainian forces are also still in a bitter battle around the Russian border region of Kursk, where Moscow has sent thousands of North Korean troops to help reclaim territory taken by Ukraine. Earlier this month, senior defence officials acknowledged that the US Defence Department may not be able to send all of the remaining 5.6 billion dollars (£4.5 billion) in Pentagon weapons and equipment stocks passed by Congress for Ukraine before President-elect Donald Trump is sworn in. Mr Trump has talked about getting some type of negotiated settlement between Ukraine and Russia, and spoken about his relationship with Russian President Vladimir Putin. Many US and European leaders are concerned that it might result in a poor deal for Ukraine and they worry that he will not provide Ukraine with all the weapons funding approved by Congress. The aid in the new package is in presidential drawdown authority, which allows the Pentagon to take weapons off the shelves and send them quickly to Ukraine. This latest assistance would reduce the remaining amount to about 4.35 billion dollars (£3.46 billion). Officials have said they hope that an influx of aid will help strengthen Ukraine’s hand, should Ukrainian president Volodymyr Zelensky decide it is time to negotiate. One senior defence official said that while the US will continue to provide weapons to Ukraine until January 20, there may well be funds remaining that will be available for the incoming Trump administration to spend. According to the Pentagon, there is also about 1.2 billion dollars (£0.9 billion) remaining in longer-term funding through the Ukraine Security Assistance Initiative, which is used to pay for weapons contracts that would not be delivered for a year or more. Officials have said the administration anticipates releasing all of that money before the end of the calendar year. If the new package is included, the US will have provided more than 64 billion dollars (£50.8 billion) in security assistance to Ukraine since Russia invaded in February 2022.
Suncorp’s ‘digital insurer’ policy transformation program will empower it to deliver improved customer and employee outcomes SYDNEY, Dec. 03, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced a new partnership with Suncorp, one of Australia’s and New Zealand’s largest general insurers. Duck Creek will deliver cloud-native, low-code core insurance delivery solutions as part of Suncorp’s recently announced ‘digital insurer’ policy transformation program. Duck Creek’s SaaS solutions will replace multiple on-premises legacy systems and help Suncorp achieve its customer-outcome and value focused strategies. The multi-year agreement for Duck Creek policy, billing and Clarity (data, insights and AI) solutions is an important milestone, and will underpin the next era of technology modernisation and process simplification for Suncorp. Duck Creek’s cohesive and comprehensive suite is expected to reduce Suncorp’s technological complexity, support their ability to deliver enhanced customer value and personalisation, and improve operational efficiency. Suncorp aims to develop more customer-centric, data-driven and brand-specific propositions and experiences without the associated complexity; and deliver value to market faster and more efficiently across its personal and commercial brands in Australia and New Zealand. “Modernising our core insurance platforms will help us deliver innovative and affordable customer propositions, simplify and streamline our operations, and importantly enable our people,” said Lisa Harrison, Chief Executive Consumer Insurance at Suncorp. “Through a rigorous RFP process, we selected Duck Creek as it has a proven track record both globally and locally.” “This is a multi-year program designed to roll out new capabilities in a safe, smart and efficient way. We have assigned dedicated business and technical leadership to work alongside Duck Creek and our integration partner, with strong governance structures and oversight. “We look forward to a successful ongoing partnership with Duck Creek to help deliver this important program,” Ms. Harrison said. “Suncorp is pushing the boundaries of insurance innovation. They appreciate that they’re not in the business of just insuring assets, but of delivering confidence and better experiences and outcomes for their policyholders,” said Christian Erickson, Managing Director (APAC) of Duck Creek Technologies. “Duck Creek’s vision, to transform insurance technology, helping insurers be smarter, faster and more efficient, and provide the best protection for people and businesses, is aligned with Suncorp’s, as a future-focused and protection-driven insurer. This makes us ideal partners and we’re honored to be a part of helping deliver Suncorp’s strategy. We believe Suncorp will push us to think and innovate differently and we are excited for the outcomes we will achieve together.” The unique modular architecture of Duck Creek’s OnDemand platform will help accelerate Suncorp’s innovation timelines, reducing new product time-to-market from months to weeks and product amendments from weeks to days. The OnDemand platform will also help Suncorp increase automation, eliminate manual processes and enhance data-driven decision making. “Our policyholder-centric solutions are designed to equip Suncorp to overcome any technological obstacles and refocus resources toward delivering new innovative customer propositions and experiences,” Mr. Erickson said. About Duck Creek Technologies Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite , and all are available via Duck Creek OnDemand . Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X . About Suncorp Group Suncorp Group is an ASX-listed Trans–Tasman insurance company, headquartered in Brisbane, Australia. With a heritage dating back more than 100 years, Suncorp provides insurance products and services through some of Australia and New Zealand’s most recognisable brands. Media Contacts: Duck Creek Chris Hamilton chris.hamilton@duckcreek.com Suncorp James Spence James.spence@suncorp.com.auThe large package of aid includes a significant amount of munitions, including for the National Advanced Surface-to-Air Missile Systems and the Hawk air defence system. It also will provide Stinger missiles and 155mm and 105mm artillery rounds, officials said. The officials, who said they expect the announcement to be made on Monday, spoke on condition of anonymity to provide details not yet made public. The new aid comes as Russia launched a barrage of attacks against Ukraine’s power facilities in recent days, although Ukraine has said it intercepted a significant number of the missiles and drones. Russian and Ukrainian forces are also still in a bitter battle around the Russian border region of Kursk, where Moscow has sent thousands of North Korean troops to help reclaim territory taken by Ukraine. Earlier this month, senior defence officials acknowledged that the US Defence Department may not be able to send all of the remaining 5.6 billion dollars (£4.5 billion) in Pentagon weapons and equipment stocks passed by Congress for Ukraine before President-elect Donald Trump is sworn in. Mr Trump has talked about getting some type of negotiated settlement between Ukraine and Russia, and spoken about his relationship with Russian President Vladimir Putin. Many US and European leaders are concerned that it might result in a poor deal for Ukraine and they worry that he will not provide Ukraine with all the weapons funding approved by Congress. The aid in the new package is in presidential drawdown authority, which allows the Pentagon to take weapons off the shelves and send them quickly to Ukraine. This latest assistance would reduce the remaining amount to about 4.35 billion dollars (£3.46 billion). Officials have said they hope that an influx of aid will help strengthen Ukraine’s hand, should Ukrainian president Volodymyr Zelensky decide it is time to negotiate. One senior defence official said that while the US will continue to provide weapons to Ukraine until January 20, there may well be funds remaining that will be available for the incoming Trump administration to spend. According to the Pentagon, there is also about 1.2 billion dollars (£0.9 billion) remaining in longer-term funding through the Ukraine Security Assistance Initiative, which is used to pay for weapons contracts that would not be delivered for a year or more. Officials have said the administration anticipates releasing all of that money before the end of the calendar year. If the new package is included, the US will have provided more than 64 billion dollars (£50.8 billion) in security assistance to Ukraine since Russia invaded in February 2022.Hundreds of schools in England will soon offer 30 minutes of free childcare every morning as the government pushes forward with its breakfast club programme with the launch of a new trial. Applications are now open for 750 state schools with primary aged-pupils to join the “early adopter scheme”, with the first breakfast clubs expected to be running from April, the Department for Education (DfE) said. The clubs will provide a free breakfast as well as valuable extra childcare before the school day begins. In last month's Budget, Chancellor Rachel Reeves revealed that the government's investment in breakfast clubs would receive a significant boost, tripling to over £30 million by 2025/26. READ MORE: Delay to permanent high school building means pupils will be taught in temporary block for a second year Education Secretary Bridget Phillipson said: "This is a landmark opportunity for schools to be in the vanguard of change as we build back the foundations of an education system that breaks the link between children’s background and the opportunities they have in life. "From helping with flexible working for families to improving behaviour and attendance, the supportive start to the day that breakfast clubs provide will help drive high and rising standards for every child. "This Government is delivering change that will make a real difference to families up and down the country." The £7 million trial – which will test the model ahead of a wider national introduction – was initially announced at the Labour party conference in September. Schools interested in the scheme can apply to participate from Wednesday, November 27. The Department for Education (DfE) has announced that details of the national rollout will soon follow. Lindsey MacDonald, chief executive of the charity Magic Breakfast, commented: "It’s vital that the free school breakfast policy set to be rolled out for all primary pupils in England is fit for purpose and will achieve its intended benefits. "The scheme must ensure schools have appropriate, adequate funding which covers set-up costs and ongoing staffing, support and guidance, a nutritional and healthy menu, with flexibility being a key part of the offer to address the variety of facilities and needs of different schools. "This requires a variety of breakfast models as one size does not fit all. "Breakfast clubs offer a social and supportive start for students, and we equally want to ensure that those children who are unable to come to the club have a healthy and nutritious breakfast to kick start their day." Paul Whiteman, general secretary of the NAHT school leaders’ union, said: "It is sensible that this scheme is to be piloted on a voluntary basis, so that we can learn the lessons of what does and doesn’t work. "There are a number of important issues that will need to be teased out through the pilot, including how schools that already provide wraparound care can support the scheme. "It is critical that the Department for Education listens to the feedback of schools that participate in the pilot before moving on to a wider rollout. “The scheme must be fully funded, and it is important that the scheme doesn’t drive additional workload for already stretched school leaders.” Tiffnie Harris, primary specialist at the Association of School and College Leaders, said: “We welcome the early adopters scheme as a first step in identifying and resolving any barriers to delivering this provision ahead of it being rolled out to all primary schools. “It is important to ensure schools have sufficient staffing, space and funding to be able to manage this expectation on top of the other expectations upon them.”
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Lin-Manuel Miranda Open to the Idea of a Hamilton Movie: ‘Holla At Me’ By says he’s ready to make a movie, but is waiting for the right director and idea to come to him first. Speaking to Variety this month, Miranda said he was open to the idea of turning his wildly successful Broadway play into a movie, similar to projects like , , and others. However, he isn’t rushing to do so. What did Lin-Manuel Miranda say about a Hamilton movie? “I’ve always said I’m open to it, if I hear a director with a great take,” said Miranda. “I already have an amazing production of the one we made on Broadway [which debuted on Disney+ in 2020],” he continued. “I’m really happy that exists and that we’re able to share it with the world. But if someone’s got an idea, holla at me.” Sign-up today for access to Disney+, Hulu, and ESPN+ Originally released in 2015, Hamilton is a musical biographical that tells the story of Alexander Hamilton, and his rise into one of the most influential people in the founding of the United States. At the time of its release, Hamilton become a cultural phenomenon, winning 11 Tony Awards, the 2016 Pulitzer Prize for Drama, and spawning off countless productions. Miranda starred in the production, with many of his co-stars breaking into superstardom after their appearance in the play, including Leslie Odom Jr., Phillipa Soo, Renée Elise Goldsberry, Christopher Jackson, Daveed Diggs, Anthony Ramos, and more. In 2020, a filmed version of the Broadway production was released on Disney+. Miranda is no stranger to film adaptations of his musicals, with Warner Bros. Discovery releasing a movie version of his hit 2005 musical In the Heights in 2021. (Source: ) Anthony Nash has been writing about games and the gaming industry for nearly a decade. When he’s not writing about games, he’s usually playing them. You can find him on Twitter talking about games or sports at @_anthonynash. Share article
John Cooper will always remember his 42nd birthday as the year he purchased an iconic home from a sports legend. The Lincoln native is enjoying the early days as owner of the home built for Michael Jordan in Highland Park, Illinois, a Chicago suburb. Cooper purchased the 56,000-square-foot property for $9.5 million this month, ending an 11-year stint of the home being on and off the market. Jordan originally listed the home in 2012 for $29 million. Since then, the basketball superstar has reduced the price at least five times, according to Zillow. John Cooper, a Lincoln native, stands in the iconic mansion he purchased from Michael Jordan in Highland Park, Ill. Cooper has lived in the Chicago area for over 10 years. After graduating from the University of Nebraska-Lincoln in 2005, he moved to Omaha and then Washington, D.C., before settling in the Windy City. Cooper quickly gravitated toward Chicago’s pro sports teams after growing up in a state without a pro franchise in NFL, MLB, NBA or NHL. He was drawn to the Bulls — the team Jordan helped build into a dynasty in the 1990s. Chicago won six NBA championships from 1991 to 1998. Cooper recalled seeing news of Jordan listing the house in 2012, roughly 10 years after his famous Hall of Fame career ended. Now, he has the keys. “I remember seeing the home for sale and thinking how cool it would be for the person that buys the home,” Cooper said. John Cooper, center, talks with friends at the home he recently purchased from Michael Jordan at 2700 Point Drive in Highland Park, Illinois. Cooper said purchasing the home emerged as a possibility within the past six months. The home features nine bedrooms and 19 baths (15 full), according to Zillow. Amenities include a putting green, tennis court, cigar lounge and, of course, a regulation-size basketball court. One of the mansion’s signature traits is the gate, adorned with a giant “23,” a tribute to Jordan’s jersey number. It’s a popular spot for fans and tourists to take photos. Cooper is a partner at real estate company HAN Capital, where he’s served as head of operations for over 12 years. HAN Capital owns properties in niche-related markets, including self-storage company Heartland Storage, according to its website. Cooper graduated from Lincoln Southeast High School in 2000 and grew up in a home on the corner of 40th and Calvert Streets. An avid sports fan, Cooper couldn’t play competitively himself due to an asthma condition. He played trumpet and chess instead. The first two weeks as the home’s owner have been a whirlwind — the good kind. Cooper has hosted several guests, including for his birthday party, which included games of basketball and golf with a group of close friends. People mingle at the home Lincoln native John Cooper purchased from basketball legend Michael Jordan earlier this month in Highland Park, Ill. He’s also had multiple meetings with contractors to get started on small repairs and upgrades to audio and video systems, among other tune-ups. Cooper, who is married with three kids, doesn’t anticipate making the home his full-time residence, but he says he will be there often. He says he’s putting the final touches on plans for the home that he’ll share in the new year. Fear not, Jordan fans. Cooper isn’t planning on disrupting the space’s history. That includes the picturesque gate. “I’ll announce some exciting plans for the property in January,” Cooper said. “I do not have any major renovation plans. I will honor the property’s legacy. This place is great just the way it is.” After listing the home for sale for $29 million in 2012, Jordan, 61, lowered the price to $16 million one year later. The house has several nods to the Jordan Brand and, more specifically, the trademark Air Jordan logo which depicts Jordan leaping through the air with a basketball in his outstretched hand, presumably for a dunk. The logos can be found in places obvious and unique, from the center of the indoor basketball court to the home’s digital thermostat. Cooper appreciates the home’s reminders of its previous owner. “My favorite player to watch was always Jordan,” Cooper said. “He made shots that seemed impossible, and he got it done on defense too.” We're always interested in hearing about news in our community. Let us know what's going on! Get local news delivered to your inbox!Revenue grows 125% year over year Current hashrate surpasses 33.5 EH/s on track for 37 EH/s LAS VEGAS , Dec. 2, 2024 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner®, today reported financial results for the fiscal year ended September 30, 2024 . "Our performance this year reflects a sustained growth trajectory, solidifying our position as one of the top Bitcoin miners in the world, as we move into an anticipated new bull market," said CleanSpark CEO Zach Bradford . "Reflecting on the past year, our results in FY 2024 and the positioning of the company going into 2025 demonstrated the wisdom of our counter-cyclical growth and capital allocation strategy. We produce durable, high performing growth and have been since our earliest days in Bitcoin mining," Bradford said. "CleanSpark has prioritized owned infrastructure as its core foundation, putting us in the best position to optimize our portfolio of data centers to drive ROI to our shareholders as we continue to rapidly deploy additional hashrate on our path to 37 EH by year-end and 50 EH and beyond in 2025." "We anticipated that there would be prime opportunities for M&A paired with organic growth, and over the past year we capitalized by adding 423 MWs to our operating portfolio bringing us to 726 MW, as of today. As we continue focusing on scale in FY 2025 and beyond, we will develop the remaining hundreds of MW in the near-term pipeline while always staying opportunistic," said Bradford. "The team produced our strongest year of financial performance to date, solidifying a track record of effective execution and keeping commitments to shareholders. This fiscal year included the fourth halving event in Bitcoin 's history, and our organizational commitment to operational excellence has allowed us to weather it more successfully than many of our industry peers," said CleanSpark CFO Gary Vecchiarelli . "Even with the halving event impacting block rewards and a significant increase in difficulty, our production outpaced both, yielding approximately 7,100 BTC thanks to our growth in hashrate and the efficiency improvements to our fleet. "CleanSpark's financial strength continued to grow in fiscal 2024," said Vecchiarelli. "Heading into 2025, we have significant scale and size, a healthy balance sheet, industry leading operations and a strong liquidity position, and we are well positioned to pursue diverse capital raising strategies," Vecchiarelli said. Financial Highlights: Full Fiscal Year 2024 Financial Results for the Fiscal Year Ended September 30, 2024 . Balance Sheet Highlights as of September 30, 2024 Assets Liabilities and Stockholders' Equity The Company had working capital of $517.5 million and $66.0 million of loans payable as of September 30, 2024 . 1 See "Non-GAAP Measure" and the related reconciliation below Investor Conference Call and Webcast The Company will hold its fiscal year 2024 earnings presentation and business update for investors and analysts today, December 2, 2024 , at 1:30 p.m. PT / 4:30 p.m. ET . Webcast URL: https://investors.cleanspark.com The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call. About CleanSpark CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner ® , is a market-leading, pure play bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin , energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at www.cleanspark.com . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, including the volatility of BTC prices; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the Company's ability to successfully completed acquisitions, including integration risks relating to completed and potential acquisitions, the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in those filings. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law. Non-GAAP Measure The Company presents adjusted EBITDA, which is not a measurement of financial performance under generally accepted accounting principles in the United States ("GAAP"). The Company's non-GAAP "Adjusted EBITDA" excludes (i) impacts of interest, taxes, and depreciation; (ii) the Company's share-based compensation expense, unrealized gains/losses on securities, and, changes in the fair value of contingent consideration with respect to previously completed acquisitions, all of which are non-cash items that the Company believes are not reflective of the Company's general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) non-cash impairment losses related to long-lived assets (including goodwill); (iv) realized gains and losses on sales of equity securities, the amounts of which are directly related to the unrealized gains and losses that are also excluded; (v) legal fees related to litigation and various transactions, which fees management does not believe are reflective of the Company's ongoing operating activities; (vi) gains and losses on disposal of assets, the majority of which are related to obsolete or unrepairable machines that are no longer deployed; (vii) gains and losses related to discontinued operations that would not be applicable to the Company's future business activities; and (viii) severance expenses. The Company previously excluded non-cash impairment losses related to digital assets and realized gains and losses on sales of bitcoin from its calculation of adjusted EBITDA, but has determined such items are part of the Company's normal ongoing operations and will no longer be excluding them from its calculation of adjusted EBITDA. Management believes that providing this non-GAAP financial measure that excludes these items allows for meaningful comparisons between the Company's core business operating results and those of other companies, and provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. In addition to management's internal use of non-GAAP adjusted EBITDA, management believes that adjusted EBITDA is also useful to investors and analysts in comparing the Company's performance across reporting periods on a consistent basis. Management believes the foregoing to be the case even though some of the excluded items involve cash outlays and some of them recur on a regular basis (although management does not believe any of such items are normal operating expenses necessary to generate the Company's bitcoin related revenues). For example, the Company expects that share-based compensation expense, which is excluded from adjusted EBITDA, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers, and directors. Additionally, management does not consider any of the excluded items to be expenses necessary to generate the Company's bitcoin related revenue. The Company's adjusted EBITDA measure may not be directly comparable to similar measures provided by other companies in our industry, as other companies in the Company's industry may calculate non-GAAP financial results differently. The Company's adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating (loss) income or any other measure of performance derived in accordance with GAAP. Although management utilizes internally and presents adjusted EBITDA, the Company only utilizes that measure supplementally and does not consider it to be a substitute for, or superior to, the information provided by GAAP financial results. Accordingly, adjusted EBITDA is not meant to be considered in isolation of, and should be read in conjunction with, the information contained in the Company's consolidated financial statements, which have been prepared in accordance with GAAP. CLEANSPARK, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share amounts) September 30, 2024 September 30, 2023 ASSETS Current assets Cash and cash equivalents $ 121,222 $ 29,215 Restricted cash 3,056 — Receivable for equity offerings — 9,590 Prepaid expense and other current assets 7,995 3,258 Bitcoin (See Note 2 and Note 6) 431,661 56,241 Receivable for bitcoin collateral (See Note 2 and Note 12) 77,827 — Note receivable from GRIID (see Note 7) 60,919 — Derivative investments 1,832 2,697 Investment in debt security, AFS, at fair value 918 726 Current assets held for sale — 445 Total current assets $ 705,430 $ 102,172 Property and equipment, net $ 869,693 $ 564,395 Operating lease right of use asset 3,263 688 Intangible assets, net 3,040 4,603 Deposits on miners and mining equipment 359,862 75,959 Other long-term asset 13,331 5,718 Goodwill 8,043 8,043 Total assets $ 1,962,662 $ 761,578 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 82,992 $ 39,900 Accrued liabilities 43,874 25,677 Other current liabilities 2,240 311 Current portion of loans payable 58,781 6,992 Current liabilities held for sale — 1,175 Total current liabilities $ 187,887 $ 74,055 Long-term liabilities Operating lease liability, net of current portion 997 519 Finance lease liability, net of current portion — 9 Loans payable, net of current portion 7,176 8,911 Deferred income taxes 5,761 2,416 Total liabilities $ 201,821 $ 85,910 Commitments and contingencies - Note 18 CLEANSPARK, INC. CONSOLIDATED BALANCE SHEETS (continued) (in thousands, except par value and share amounts) September 30, 2024 September 30, 2023 Stockholders' equity Preferred stock; $0.001 par value; 10,000,000 shares authorized; Series A shares; 2,000,000 authorized; 1,750,000 issued and outstanding (liquidation preference $0.02 per share) Series X shares; 1,000,000 and 0 authorized, issued and outstanding, respectively 3 2 Common stock; $0.001 par value; 300,000,000 shares authorized; 270,897,784 and 160,184,921 shares issued and outstanding, respectively 271 160 Additional paid-in capital 2,239,367 1,009,482 Accumulated other comprehensive income 418 226 Accumulated deficit (479,218) (334,202) Total stockholders' equity 1,760,841 675,668 Total liabilities and stockholders' equity $ 1,962,662 $ 761,578 The accompanying notes are an integral part of these consolidated financial statements. CLEANSPARK, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except per share and share amounts) For the year ended September 30, 2024 September 30, 2023 September 30, 2022 Revenues, net Bitcoin mining revenue, net $ 378,968 $ 168,121 $ 131,000 Other services revenue — 287 525 Total revenues, net $ 378,968 $ 168,408 $ 131,525 Costs and expenses Cost of revenues (exclusive of depreciation and amortization shown below) 165,516 93,580 41,234
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