“It’s a great country, but we’re all still trapped in our minds.” So says Alan Berg (Marc Maron), an impassioned radio host, while raging against his openly anti-Semitic callers in the opening minutes of The Order . It’s a fitting introduction to a true-crime thriller that’s as concerned with the adrenaline-pumping power of well-staged bank robberies and police chases as it is with the terrifying reality — both psychological and societal — of bigotry. You can live anywhere, but it takes far more than just packing your bags to see beyond the limits of your own perspective. When you refuse to do so, then even the idyllic, picturesque mountains and hills of the Pacific Northwest where The Order is set can become a breeding ground for vile hatred. By the time the film begins, its central Idahoan small town has already become poisoned by the beliefs of its Neo-Nazi residents. When FBI agent Terry Husk (Jude Law) wanders in from New York looking for a quieter life, his eyes inevitably find the white power poster hung up behind the counter of the first bar he walks into. Its placement is frightening on its own, but Terry is just as disturbed by the feeling that he’s arrived in a place where such blatant racial hatred is seen as a kind of everyday normalcy. The Order creates a skin-crawling discomfort in this scene, and it never lets it fade. Nor should it. This constant unease adds a cutting edge to the film, which succeeds at depicting not only the stomach-churning narcissism of white supremacy, but also the impossibility of ever really killing it. Based on true events, The Order comes from King Richard screenwriter Zach Baylin and Nitram director Justin Kurzel. It charts the real-life FBI investigation into the film’s eponymous white supremacist militia group, led by the racist Bob Mathews ( Juror #2 ‘s Nicholas Hoult). When Bob and his men begin robbing armored cars and banks, blowing up buildings, and killing talkative members of their own group, they quickly catch the attention of Jamie Bowen (Tye Sheridan), a local police deputy who shares his suspicions about The Order and its plans with Law’s Husk shortly after he arrives. What ensues is a sweaty quest headed by Husk and fellow FBI agent Joanne Carney (Jurnee Smollett) to capture Bob and shut down The Order’s operations before the group has the chance to grow into an even worse domestic terror threat. Several immaculately photographed, tense set pieces punctuate this conflict. These include a midday robbery of an armored truck that brings Husk blasting onto Mathews’ radar and a nighttime farmhouse raid that reaches haunting heights through the violence that is both depicted onscreen and left merely implied. As a filmmaker, Kurzel is no stranger to high-octane set pieces, having directed not only 2016’s forgettable Assassin’s Creed , but also 2015’s Macbeth , in which he brought Shakespeare’s tale of twisted hubris closer to the action movie realm than any other director before him. Here, Kurzel reteams with cinematographer Adam Arkapaw, who bathes The Order ‘s action sequences in hazy shades of yellow and white sunlight that heighten the scenes and add a sickening kind of surrealness to them. Kurzel has always been capable of making exceptional-looking thrillers. He’s a master of elevating B-grade genre movies through craft alone, and The Order is no exception. What makes the movie a worthwhile addition to his growing filmography, though, is its examination of indoctrination and white male rage. The latter is a theme Kurzel has repeatedly returned to over the years, whether it be in Nitram , True History of the Kelly Gang , or even his Michael Fassbender-led take on Macbeth . In The Order , he gets the chance to paint one of his most chilling portraits of male insecurity and violence yet. Baylin’s script, for starters, packs the film with white supremacist symbols, including Nazi flags and The Turner Diaries , a 1978 novel about a fictional American insurrection that the FBI has previously labeled as the “bible of the racist right,” and Kurzel repeatedly returns to them throughout The Order . Where the film mines most of its power from, though, is Hoult’s performance. The actor has proven himself in the past as a master at portraying a distinctly male, feeble kind of evil. The conniving, self-absorbed natures of his previous villains have, however, always been offset — and often comically — by Hoult’s own boyish face and rail-thin frame. Those qualities aren’t just still present in The Order , but they’re magnified by his character’s unkempt, farmboy haircut and practically prepubescent belief in the white supremacist doctrines he has adopted. But, as the real-life Mathews, Hoult also seems more formidable than he ever has before. His ability to evoke a very specific, pathetic malevolence becomes a source of uncomfortable horror when it’s coupled in The Order with acts of violence and an embittered way of thinking that, unfortunately, still seem disturbingly familiar. The Order explores the origins of Mathews’ racist ideology and the circumstances of his indoctrination without casting an even remotely sympathetic light on the character. Instead, it forces viewers to confront the absurd horror of its antagonist’s beliefs and witness how Mathew’s insistence that his white birthrights have been stolen from him becomes an excuse to unleash his anger upon the world. It’s an unpleasant, discomforting experience watching The Order unfold, and every second spent with Mathews and his fellow Neo-Nazis just makes the viewer root even more for their downfall. This righteous desire for justice does a lot to keep The Order ‘s audience emotionally invested and cover up the almost by-the-numbers nature of its central FBI investigation. Sporting a bushy mustache that would make Gene Hackman proud, Jude Law does his best Popeye Doyle impression as Husk, a federal agent who gets so caught up in his hunts that his body literally reacts with occasional nosebleeds. Law is unsurprisingly convincing as a hard-drinking investigator whose long-unquenched thirst to actually catch one of his targets seems powerful enough to destroy him from the inside out. But Baylin’s script is ultimately too busy filling out the real-life details and motivations of The Order ‘s white supremacist villains to make Law’s Terry, as well Smollett’s Carney and Sheridan’s Bowen, more than stock investigator archetypes. While The Order never has trouble ratcheting up the tension and intensity when it needs to, the film is also decidedly more low-key and somber than some genre-movie enthusiasts may expect before they see it. This is largely by design, as The Order tries in its final third to communicate how fully extinguishing something like white supremacy requires not just ceaseless law enforcement efforts, but also a level of introspection and personal responsibility that its proponents inherently lack. Its causes are, more often than not, clear, and its practitioners rarely feel the need to hide themselves and their beliefs. But there is a very big difference, as The Order mournfully acknowledges in its purposefully unfulfilling epilogue, between having something in your sights and actually being able to kill it once and for all. That is a difficult truth for The Order to grapple with, and the film never truly emerges as an unforgettable, full-throated cinematic expression of it. But even if The Order never manages to reach its highest possible pitch, the one it does strike is startling and distressing in equal measure. For much of its runtime, it’ll thrill you and get your pulse pounding. In the end, though, it’ll leave you quiet, shaken, and, above all else, angry. The Order is now playing in select theaters.
Despite the growing interest from Premier League clubs, Dzeko has made it clear that he is happy at Dortmund and has no intention of leaving the club. The striker values the support of the fans and the camaraderie within the team, factors that have contributed to his success at the club. Dzeko's commitment to Dortmund has been praised by both fans and teammates, with many hoping that he will stay and continue to lead the team to success.Trump asks US Supreme Court to pause law threatening TikTok banWhat happens when 'The Simpsons' join 'Monday Night Football'? Find out during Bengals-CowboysIn a shocking turn of events, multiple individuals have reportedly fainted in the women's bath area of a public bathhouse in downtown. The incident has raised serious concerns about the safety and hygiene standards of the facility, prompting immediate action from the authorities.
A bill that would expand Social Security benefits for millions of public sector workers such as teachers and firefighters is making its way to President Joe Biden's desk. For decades, federal policies have limited Social Security payments for many public service workers who also receive pensions. If the bill becomes law, it will expand Social Security benefits for an estimated 3 million Americans. The expansion of benefits comes with a cost of nearly $200 billion, and critics said it could put more of a strain on already limited funds. Firefighters told News 9 that the funds should be better managed. "A lot of us have had different careers and paid into Social Security, so if you paid in your 40 quarters to Social Security, you should be entitled to that benefit," said Manchester fire Lt. Joseph Russo. If signed into law, the expansion would apply to all benefits payable after December 2023.
Please enable JavaScript to read this content. To some, Cabinet Secretary for Mining and Blue Economy Hassan Joho is an unprincipled man who changes like a chameleon to blend and survive with the prevailing political environment. His ardent supporters, however, believe Joho is a man who is unafraid to make tough decisions and stands even if it offends the status quo. Like the famous phrase that there are no permanent enemies in politics, history writers would spare a chapter for Joho, if the last few months of his relationship with Kenya Kwanza administration is anything to read from. Joho, alias Sultan, has made a 180-degree turn; from a fierce critic of President William Ruto to an ardent supporter ready to defend Kenya Kwanza with all his political might. Critics say Joho is following in the footsteps of past prominent leaders from the Coast, a region whose history is rich with cases of sycophantic elites who would say anything to please presidents. In the 1980s and 90s, there was Kanu stalwart, the late Shariff Nassir of mpende msipende clarion, later adopted by former Kwale Senator the late Boy Juma Boy. Joho and his supporters described his brand of politics as pragmatic. They say Joho is a flexible leader who prioritizes outcomes or benefits for his people over ideology. Crying more CS Joho claims to be a political disciple of ODM leader Raila Odinga, who has in the past joined his fierce opponents. He says, like Raila, he would be ready to build bridges. In the past few days, Joho’s maxim kama mbaya, ni mbaya. Kama ni noma ni noma (If it is bad, so be it. If it is chaos, so be it) in defence of Ruto has sparked debate on online platforms. He said government operatives will strongly respond to what is alleged. “We have mouths like you. You are on social media, but we are on the ground,” he said. In what the so-called online warriors have described as crying more than the bereaved, Joho said unpatriotic Kenyans were tarnishing Ruto and his government’s image overseas. He appeared irked by a section of Kenyans when he claimed that those loudest on social media attacking Ruto were using Wi-Fi provided by the government. Stay informed. Subscribe to our newsletter Joho mocked those cyberbullying or “greeting” via MPesa, challenging those sending him a shilling to increase the amount to Sh100. “I will come for you,” Joho told the online users. On Friday, Joho appeared to tone down, hinting that his outburst was because of the embarrassment he was subjected to in New York by investors who read only bad things about Kenya in the online space. He said it was important for every Kenyan to realize that they have a contribution to make in wooing investors into the country, saying that there was a need for all citizens to market the country positively. “Let us be responsible. It is our country, we cannot have another Kenya. One year wasted is far too long for future generations,” he said. Joho has used his docket to traverse the country and propagate Ruto’s agenda, defend the broad-based government, and attack former Deputy President Rigathi Gachagua for allegedly propagating tribalism. “You grow onions here, do you ask what tribe your buyers belong to or do you just take their money?” he charged. Joho’s praise of Ruto and his government is a stark difference from barely two years ago when he vowed not to support what he said was a “stone age wheelbarrow” ideology. “This is the only country where someone takes to social media anatengeza kaburi na kuombea viongozi mabaya, you will not remove this government using social media,” Joho said in part. In July 2024, after the Gen Z protests, Joho came out with guns blazing harshly criticizing Ruto and his government. He claimed in his life, he had never seen a liar, corrupt, and tribal person like Ruto. During the presidential campaign, in May 2022, Joho also branded Ruto as the most corrupt and dishonest person he had ever seen. “Maisha yangu tangu nizaliwe sijawahi ona mtu muongo, mfisadi, baradhuli...kama William Samoei Ruto,” he said in part. In November 2021, Joho harshly responded to claims of engaging Ruto ahead of the 2022 general election. He said he had nothing to discuss with the then DP. “I don’t even dream of engaging with DP Ruto. What will I discuss with him? What will he give me? A wheelbarrow? I played with a wheelbarrow a long time ago as a child,” he said. During his vetting, Joho was asked to explain how he would engage with President Ruto who he had harshly criticized in the past but noted that “only a fool does not change his mind.” “I have been a big critic of this government. Now, I have an opportunity to create a difference. I will do exactly that,” Joho responded. Critics say Joho’s political modus operandi presents him as unprincipled and guided by selfish interests due to his family business empire’s run-ins with the State agencies after Ruto rose to power. During the vetting for the Cabinet post, Joho disclosed that he is worth Sh2.36 billion spreading in the shipping and logistics business, property, valuables, cash in banks, and shareholding in the family business. His family’s business empire came under threat after State agencies like Kenya Ports Authority (KPA) cancelled leases and contracts worth billions of shillings linked to the port of Mombasa. Joho family’s Autoports Terminal Limited (APTL) and Kenya Railways Corporation (KR) deal for the transportation of cargo by the Standard Gauge Railway (SGR) came under sharp focus. In the special audit report dated August 10, the Office of the Auditor General (OAG) said the contractual agreement was not transparent and could expose the government and taxpayers to litigation risks. The report said KR could be losing revenue due to the government as a result of irregular leasing of the Nairobi Freight Terminal (NFT) to M/s Autoports Freight Terminal Limited. Joho’s family has also lost the battle to develop the second grain bulk handling terminal at the port of Mombasa after KPA decided to review all land leases at the port. The family empire seeks to develop the grain handling terminal at the port at Sh5.9 billion. Audit trail Currently, Portside and KPA are locked in a legal battle after the latter suspended the 20-year lease granted to the firm on June 30, 2022. KPA leased Shed Five, which is 100,000 square feet, and Shed Six which is 70,000 square feet, in a deal that was to start from July 1, 2022. Meanwhile, Autoports’ deal to transport South Sudan cargo by SGR from the port and handle it at the NFT leased from KR was also questioned with State agencies pushing for its cancellation. The audit highlighted irregularities in KR, as a procuring entity, entering into a contract with M/s Autoports on terms that were not approved by the board. It said that the procedure followed to have a contractual agreement between KR and M/s Autoports Freight Terminal Limited was not transparent and lacked the requisite documents with a clear audit trail as opposed to the similar agreement between KR and M/s Grain Bulk Handlers Limited (GBHL). Mombasa lawyer Abubakar Yusuf says Joho would do everything to ensure the success of Ruto because it would guarantee him a post in post-2027 polls. “What Joho is doing is nothing new in politics. Ruto and Raila Odinga attacked each other and have closed ranks. Raila and Uhuru fought fiercely and in 2018 they had a handshake,” Yusuf said. Coast Human Rights Coordinator Julius Ogogoh says Joho had the right to support whoever he wants, but as a public officer, he cannot threaten those with divergent opinions.Blockmate Ventures Announces Closing of Strategic Investment and Incentive GrantTOWSON, Md. (AP) — Marcus Banks scored 22 points as UMBC beat Towson 84-71 on Saturday. Banks shot 8 for 18, including 5 for 11 from beyond the arc for the Retrievers (6-5). Josh Odunowo scored 17 points and added five rebounds and three steals. Anthony Valentine had 17 points and shot 7 of 9 from the field, including 1 for 3 from 3-point range, and went 2 for 5 from the line. Dylan Williamson finished with 21 points for the Tigers (4-6). Tyler Tejada added 18 points and nine rebounds. Mekhi Lowery also had 12 points, 11 rebounds, two steals and two blocks. UMBC took the lead with 19:03 left in the first half and never looked back. The score was 38-24 at halftime, with Valentine racking up 11 points. UMBC extended its lead to 59-38 during the second half, fueled by a 7-0 scoring run. Banks scored a team-high 13 points in the second half. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Trump and Macron can't let go of their handshake duel
In the end, Zhong Moyan's downfall serves as a cautionary tale for all those in positions of authority. It is a reminder that power, influence, and reputation can easily be tarnished by greed and dishonesty. As the community reflects on this scandal, it is clear that there is still much work to be done to ensure that our educational institutions remain beacons of integrity and excellence.
Xiaomi YU7 Set to Launch in June or July Next Year: A Brand New SUV is on the Horizon
Watch out for fake Ryzen 9800X3D listings and don't get scammedSUGAR LAND, Texas, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI) (“ AOI ,” “ we ,” “ us ” or “ our ”) announced today that it has closed its exchange with holders (the “ Noteholders ”) of its 5.25% Convertible Senior Notes due 2026 (the “ 2026 Notes ”) of approximately $76.7 million principal amount of the 2026 Notes for (i) $125 million aggregate principal amount of 2.75% Convertible Senior Notes due 2030 (the “ 2030 Notes ”), (ii) 1,487,874 shares of our common stock (the “ Exchange Shares ”) and (iii) approximately $89.6 thousand in cash representing accrued interest on the 2026 Notes and the value of fractional shares (such transactions, collectively, the “ Exchanges ”). The 2030 Notes are our senior, unsecured obligations and are equal in right of payment with our existing and future senior, unsecured indebtedness, senior in right of payment to our existing and future indebtedness that is expressly subordinated to the 2030 Notes and effectively subordinated to our existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness. The 2030 Notes bear interest at a rate of 2.75% per year, payable semiannually in arrears on January 15 and July 15 of each year, beginning on July 15, 2025. The 2030 Notes will mature on January 15, 2030, unless earlier repurchased, redeemed or converted. The 2030 Notes are convertible at the option of holders of the 2030 Notes under certain specified circumstances, as set forth in the indenture governing the 2030 Notes. We will settle conversions by paying or delivering, as applicable, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election, based on the applicable conversion rate. The initial conversion rate is approximately 23.0884 shares of our common stock per $1,000 principal amount of 2030 Notes, representing an initial conversion price of approximately $43.31 per share of our common stock, an approximately 27.50% premium to the closing price of our common stock on December 18, 2024. If a Make-Whole Fundamental Change (as defined in the indenture governing the 2030 Notes) occurs, and in connection with certain other conversions, we will in certain circumstances increase the conversion rate for a specified period of time. Except in connection with the completion of the Specified Divestiture (as described below), we may not redeem the 2030 Notes prior to January 15, 2027. On or after January 15, 2027, and on or before the 40 th scheduled trading day immediately before the maturity date, we may redeem all or part of the 2030 Notes for cash if the last reported sale price per share of our common stock exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date we send the related redemption notice; and (ii) the trading day immediately before the date we send such redemption notice, at a cash redemption price equal to the principal amount of the 2030 Notes to be redeemed, plus accrued and unpaid interest, if any. Holders may require us to repurchase their 2030 Notes upon the occurrence of a Fundamental Change (as defined in the indenture governing the 2030 Notes) at a cash purchase price equal to the principal amount thereof plus accrued and unpaid interest, if any. In addition, the 2030 Notes will be redeemable, in whole or in part, at our option at any time, and from time to time, on or before the 40 th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the 2030 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if the “Specified Divestiture” (as defined in the indenture governing the 2030 Notes) is completed. If the Specified Divestiture is completed, each holder will have the right to require us to repurchase its 2030 Notes for cash at a repurchase price equal to 100% of the principal amount of such 2030 Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The issuance of the 2030 Notes, the Exchange Shares and the shares of our common stock issuable upon conversion of the 2030 Notes have not been registered under the Securities Act of 1933, as amended (the “ Securities Act ”), and the 2030 Notes, the Exchange Shares and such shares issuable upon conversion of the 2030 Notes may not be offered or sold without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws, or in transactions not subject to those registration requirements. Concurrently with the Exchanges, AOI issued an aggregate of 1,036,458 shares of common stock, at a purchase price of $33.97 per share, in a registered direct offering (the “ Registered Direct Offering ”). Estimated net proceeds from the Registered Direct Offering are approximately $33.7 million after deducting placement agent fees and estimated offering expenses incurred by us. We intend to use the net proceeds for general corporate purposes, which may include, among other things, capital expenditures and working capital. We may also use such proceeds to fund acquisitions of businesses, technologies or product lines that complement our current business; however, we have no present plans, agreements or commitments with respect to any potential acquisition. Stefan Murry, AOI’s Chief Financial Officer and Chief Strategy Officer, stated that “AOI expects to benefit from the convertible debt exchange transactions and the concurrent registered direct offering by, among other things, extending our convertible debt from 2026 to 2030, reducing our existing interest expense and strengthening the cash position of our balance sheet by approximately $30.2 million through the registered direct offering. In addition, the convertible debt exchange transactions increase our financial flexibility by removing certain existing restrictive covenants in our 2026 Notes. We were able to execute these transactions with minimal additional dilution of approximately 0.5%, compared to the implied dilution of the shares underlying the 2026 Notes.” The Registered Direct Offering was made pursuant to an automatic shelf registration statement on Form S-3ASR (Registration File No. 333-283905), which was filed with the U.S. Securities and Exchange Commission (the “ SEC ”) on December 18, 2024, and became effective immediately upon filing, including the prospectus contained therein, as supplemented by the prospectus supplement dated December 18, 2024 filed with the SEC pursuant to Rule 424(b) under the Securities Act on December 20, 2024. The prospectus supplement and accompanying prospectus relating to the Registered Direct Offering are available on the SEC’s website at www.sec.gov. Raymond James & Associates, Inc. acted as AOI’s exclusive financial advisor in connection with the Exchanges and acted as the sole placement agent in connection with the Registered Direct Offering. Haynes Boone LLP acted as legal advisor to AOI and Mayer Brown LLP acted as legal advisor to Raymond James & Associates, Inc., in connection with the Exchanges and the Registered Direct Offering. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Forward-Looking Information This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “could,” “would,” “target,” “seek,” “aim,” “predicts,” “think,” “objectives,” “optimistic,” “new,” “goal,” “strategy,” “potential,” “is likely,” “will,” “expect,” “plan” “project,” “permit” or by other similar expressions that convey uncertainty of future events or outcomes. Such forward-looking statements reflect the views of management at the time such statements are made. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations, which could cause our actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include but are not limited to: reduction in the size or quantity of customer orders; change in demand for our products due to industry conditions; changes in manufacturing operations; volatility in manufacturing costs; delays in shipments of products; disruptions in the supply chain; change in the rate of design wins or the rate of customer acceptance of new products; our reliance on a small number of customers for a substantial portion of its revenues; potential pricing pressure; a decline in demand for our customers’ products or their rate of deployment of their products; general conditions in the internet datacenter, cable television (CATV) broadband, telecom, or fiber-to-the-home (FTTH) markets; changes in the world economy (particularly in the United States and China); changes in the regulation and taxation of international trade, including the imposition of tariffs; changes in currency exchange rates; the negative effects of seasonality; the impact of any pandemics or similar events on our business and financial results; and other risks and uncertainties described more fully in our documents filed with or furnished to the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024. More information about these and other risks that may impact our business are set forth in the “Risk Factors” section of our quarterly and annual reports on file with the SEC. You should not rely on forward-looking statements as predictions of future events. All forward-looking statements in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. Except as required by law, we assume no obligation to update forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations. About Applied Optoelectronics Applied Optoelectronics Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI’s products are the building blocks for broadband fiber access networks around the world, where they are used in the CATV broadband, internet datacenter, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. Investor Relations Contacts: The Blueshirt Group, Investor Relations Monica Gould +1-212-871-3927 ir@ao-inc.com Cassidy Fuller +1-415-217-4968 ir@ao-inc.comMatein Khalid I wrote a column on Vornado (VNO) as a buy at 18 in Sep’22 as it was slammed by the pandemic, its debt load and the Fed’s draconian rate hikes. So VNO’s price ascribed a $450 a square foot value to its prime Manhattan office/Fifth Ave retail portfolio even though its occupancy rate was 91% as the pandemic raged. To help my Dubai friends grasp that deep value discount in VNO, I wrote a post titled buying Manhattan at Karama prices at $18. After initially rising to $26 by February 2023, VNO was slammed by the depositor run and Fed bailout in Silicon Valley Bank and First Republic on investor angst on their bond portfolio after Powell raised the Fed funds rate from 0.5%-5.5%. A regional banking crisis could have escalated into systemic contagion, a no-no for Uncle Sam since regional banks owned 70% of all US CRE loans. So a Fed bailout of SVB and First Republic was inevitable while Powell’s tight money pivot led to a plunge in both inflation and interest rates by summer 2024. VNO rose from a cycle low of 14 to almost 44 now. Moral of the story, making big money in real estate means getting both the brick and mortar and interest rate cycle right. My friends who bought VNO at 18 have made an almost 150% profit on their capital in 2 years with near zero transaction cost. Sure beats flipping houses and praying for the greater fool theory to work in your favour in a notoriously illiquid speculative asset class. The REIT Index has underperformed the S&P 500 goosed by Mag-7. However, despite the goldilocks economy, there is valuation froth in the SPX at 23X. While higher transaction volumes, lower inflation and US Treasury bond yields tell me that it is now the time to rotate into real estate on the NYSE. Mr. Market is whispering to me that the pandemic/banking/tight money/remote work/telecommuting blues for CRE is now over and it is time to go deal hunting for discounted brick and mortar property on Wall Street. I love fundamentalists property analysts though not the beirdo-weirdos who operated from caves in Afghanistan. 67 I believe owning the right REITs will be a money making strategy in the coming US real estate cycles, even if my VNO trade idea was a roller coaster in the first half of 2023. I have made no secret about my fascination with industrial and data center REITs, segments that have rewarded patient investors with 10-20X multiples of their capital in the past two decades. In 2024, the first Baby Boomer turned 79 and the biggest/richest generation in American history with 74 million members are now prime candidates for senior housing demand. Yet there is a supply squeeze in this segment due to Uncle Jay’s tight money and Uncle Joe’s long permit/construction lead times. Data center REITs are priced to perfection and Prologis is the only industrial I like at the right price. New York office is still a winner but I will not touch San Fran with a barge pole, go COLD turkey! Also published on Medium .Yale defeats Vermont 65-50
In recent days, there has been a wave of anticipation and excitement in the gaming community as several foreign media outlets have been speculating and predicting upcoming game announcements at The Game Awards (TGA) event. Among the most talked-about predictions are the potential reveal of "Death Stranding 2" and a remastered version of "Max Payne." Fans of these iconic franchises have been eagerly awaiting any news or hints regarding these new developments, and the rumors swirling around TGA have only added to the suspense.
Who is Georgia's backup QB? Here's who entered the game for an injured Carson BeckThe Assad family's reign began in 1970 when Hafez al-Assad seized power in a military coup. Following his death in 2000, his son Bashar al-Assad assumed control, continuing the family's authoritarian rule. Despite facing internal dissent and international condemnation, the Assad regime managed to cling to power for over five decades through a combination of ruthless suppression, international alliances, and strategic manipulation.
Lisa Simpson once said during an episode of “The Simpsons:” What could be more exciting than the savage ballet that is pro football? On Monday night, the entire Simpsons universe gets to experience it in a way not many could have imagined. The prime-time matchup between the Cincinnati Bengals and Dallas Cowboys will also take place at Springfield’s Atoms Stadium as part of “The Simpsons Funday Football” alternate broadcast. The altcast will be streamed on ESPN+, Disney+, and NFL+ (on mobile devices). ESPN and ABC have the main broadcast, while ESPN2 will carry the final “ManningCast” of the regular season. The replay will be available on Disney+ for 30 days. Globally, more than 145 countries will have access to either live or on replay. “We’re such huge football fans, and the Simpsons audience and the football audience, I feel, are like the same audience of just American families and football. And the Simpsons are so much a part of the DNA of the American family and culture that for us to, like, mush them together in this crazy video game, it’s so fun,” said Matt Selman, executive producer of “The Simpsons.” While the game is the focal point, the alternate broadcast, in some ways, will resemble a three-hour episode of “The Simpsons.” It starts with Homer eating too many hot dogs and having a dream while watching football. Homer joins the Cowboys in the dream while Bart teams up with the Bengals. Lisa and Marge will be sideline reporters. “That’s the beginning of the story, and the story continues through the entire game until Homer wakes up from his dream at the end of the game. It is like a complete story, and the NFL game will happen in between. It’s just going to be an amazing presentation with tons of surprises,” said Michael “Spike” Szykowny, ESPN’s VP of edit and animation. This is the second year ESPN has done an alternate broadcast for an NFL game. It used the characters from “Toy Story” for last year’s Sunday morning game from London between the Atlanta Falcons and Jacksonville Jaguars. “The Simpsons” has featured many sports-themed episodes during its 35 seasons. Even though “Homer at the Bat” remains the consensus favorite sports episode for many Simpsons fans, there have been football ones such as “Bart Star” and “Lisa The Greek.” There also was a Super Bowl-themed one after Fox’s broadcast of Super Bowl 33 between Denver and Atlanta in 1999. Even though “The Simpsons” remains a staple on Fox’s prime-time schedule, it is part of the Disney family after their acquisition of 20th Century Fox in 2019. All 35 seasons are on Disney+. The show’s creators have worked with ESPN and the NFL to make sure the look and sound is definitely Simpsonsesque. The theme song is a mash-up of “The Simpsons” opening and “Monday Night Football’s” iconic “Heavy Action.” There have also been pre-recorded skits and bits to use during the broadcast featuring Simpson’s legendary voices Hank Azaria, Nancy Cartwright, Dan Castellaneta, Julie Kavner, and Yeardley Smith. The telecast will be entirely animated, with the players’ movements in sync with what is happening in real-time on the field. That is done through player-tracking data enabled by the NFL’s Next Gen Stats system and Sony’s Beyond Sports Technology. While Next Gen Stats tracks where players are on the field with a tracking chip in the shoulder pads, there is skeletal data tracking and limb tracking data — which uses 29 points per player — to get closer to the player’s movements. The other data tracking will allow Beyond Sports and Disney to add special characters to the game. For example, there might be a play where Lisa catches the ball and goes 30 yards instead of Cincinnati’s Tee Higgins. “Lisa is much smaller than the rest of the players. So, in real life, the ball would go over her head, but now, with data processing, we can take the ball and make it go exactly into her hands. So for the viewer, it still looks believable, and it all makes sense,” said Beyond Sports co-founder Nicolaas Westerhof. The other major challenge is making “The Simpsons” two-dimensional cartoon characters into 3-D simulations. Szykowny and his team worked to make that a reality over the past couple of months. “That’s a big leap of faith for them to say, hey, we trust you to make our characters 3-D and work with it. Our ESPN creative studio team has done a wonderful job,” Szykowny said. Lisa, Krusty, Nelson, Milhouse and Ralph will be with Bart and the Bengals; while Carl, Barney, Lenny and Moe join up with with Homer and the Cowboys. The broadcast will also feature ESPN personalities Stephen A. Smith, Peyton Manning and Eli Manning. ESPN’s Drew Carter, Mina Kimes and Dan Orlovsky will call the game from Bristol, Connecticut, and also be animated. They will wear Meta Quest Pro headsets to experience the game from Springfield using VR technology. For Kimes, being part of the broadcast and being an animated Simpsons character is a dream come true. She is a massive fan of the show and has a framed photo of Lisa Simpson — who she said is a personal hero and icon — as part of her backdrop when she makes appearances on ESPN NFL shows from her home in Los Angeles. “I didn’t have any input, and I didn’t see anything beforehand, so I wasn’t sure if it would look like me, but it kind of does, which is very funny,” said Kimes, who drew Simpsons characters when she was a kid. “To see the actual staff turn me into one was a dream.” Even though the Bengals (4-8) and Cowboys (5-7) have struggled this season, Selman thinks both teams have personalities that appeal to “The Simpsons” universe. “We were just so lucky also that the Cowboys are sort of like a Homer Simpson-type team, American team, and Mike McCarthy might be a Homer-type guy, one might imagine,” he said. ”And then you have Joe Burrow on the other side who is a cool young, spiky-haired, blonde bad boy -- he’s like Bart. And that fits our character archetypes so perfectly. “If Homer is mad at Bart and has a hot dog dream while watching ’Monday Night Football’, and then it’s basically McCarthy versus Burrow, Homer versus Bart, and that’s the simple father versus son strangling — Homer strangling Bart dynamic that has been part of the show for 35 years. I don’t know if that would have worked as well if it was like Titans versus Jacksonville. We would have found something. We would have made it work.” AP NFL: https://apnews.com/hub/nflIs Fortis Stock a Buy for Its Dividend Yield?
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