BROOMFIELD, Colo. , Dec. 9, 2024 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2025 ended October 31, 2024 , provided season pass sales results for the 2024/2025 season, updated fiscal 2025 net income attributable to Vail Resorts, Inc. guidance and reaffirmed fiscal 2025 Resort Reported EBITDA guidance, announced capital investment plans for calendar year 2025, declared a dividend payable in January 2025 , and announced first quarter share repurchases. Highlights Commenting on the Company's fiscal 2025 first quarter results, Kirsten Lynch , Chief Executive Officer, said, "Our first fiscal quarter historically operates at a loss, given that our North American and European mountain resorts are generally not open for ski season. The quarter's results were driven by winter operations in Australia and summer activities in North America , including sightseeing, dining, retail, lodging, and administrative expenses. "Resort Reported EBITDA was consistent with the prior year, driven by growth in our North American summer business from increased activities spending and lodging results. This growth was offset by a decline in Resort Reported EBITDA of $9 million compared to the prior year from our Australian resorts due to record low snowfall and lower demand, cost inflation, the inclusion of Crans-Montana, and approximately $2.7 million of one-time costs related to the two-year resource efficiency transformation plan and $0.9 million of acquisition and integration related expenses." Regarding the Company's resource efficiency transformation plan, Lynch said, "Vail Resorts continues to make progress on its two-year resource efficiency transformation plan, which was announced in our September 2024 earnings. The two-year Resource Efficiency Transformation Plan is designed to improve organizational effectiveness and scale for operating leverage as the Company grows globally. Through scaled operations, global shared services, and expanded workforce management, the Company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year. We will provide updates as significant milestones are achieved." Turning to season pass results, Lynch said, "Our season pass sales highlight the compelling value proposition of our pass products and our commitment to continually investing in the guest experience at our resorts. Over the last four years, pass product sales for the 2024/2025 North American ski season have grown 59% in units and 47% in sales dollars. For the upcoming 2024/2025 North American ski season, pass product sales through December 3, 2024 decreased approximately 2% in units and increased approximately 4% in sales dollars as compared to the period in the prior year through December 4, 2023 . This year's results benefited from an 8% price increase, partially offset by unit growth among lower priced Epic Day Pass products. Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying an exchange rate of $0.71 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. For the period between September 21, 2024 and December 3, 2024 , pass product sales trends improved relative to pass product sales through September 20, 2024 , with unit growth of approximately 1% and sales dollars growth of approximately 7% as compared to the period in the prior year from September 23, 2023 through December 4, 2023 , due to expected renewal strength, which we believe reflects delayed decision making. "Our North American pass sales highlight strong loyalty with growth among renewing pass holders across all geographies. For the full selling season, the Company acquired a substantial number of new pass holders, however the absolute number of new guests was smaller compared to the prior year, driving the overall unit decline for the full selling season. New pass holders come from lapsed guests, prior year lift ticket guests, and new guests to our database. The Company achieved growth from lapsed guests, who previously purchased a pass or lift ticket but did not buy a pass or lift ticket in the previous season. The decline in new pass holders compared to the prior year was driven by fewer guests who purchased lift tickets in the past season and from guests who are completely new to our database, which we believe was impacted by last season's challenging weather and industry normalization. Epic Day Pass products achieved unit growth driven by the strength in renewing pass holders. We expect to have approximately 2.3 million guests committed to our 42 North American, Australian, and European resorts in advance of the season in non-refundable advance commitment products this year, which are expected to generate over $975 million of revenue and account for approximately 75% of all skier visits (excluding complimentary visits)." Lynch continued, "Heading into the 2024/2025 ski season, we are encouraged by our strong base of committed guests, providing meaningful stability for our Company. Additionally, early season conditions have allowed us to open some resorts earlier than anticipated, including Whistler Blackcomb, Heavenly, Northstar, Kirkwood, and Stevens Pass. Early season conditions have also enabled our Rockies resorts to open with significantly improved terrain relative to the prior year, including the opening of the legendary back bowls at Vail Mountain opening the earliest since 2018. Our resorts in the East are experiencing typical seasonal variability for this point in the year, with all resorts planned to open ahead of the holidays. We are continuing to hire for the winter season, and are on track with our staffing plans and have achieved a strong return rate of our frontline employees from the prior season. Lodging bookings at our U.S. resorts for the upcoming season are consistent with last year. At Whistler Blackcomb, lodging bookings for the full season are lagging prior year levels, which may reflect delayed decision making following challenging conditions in the prior year." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the first fiscal quarter ended October 31, 2024 , which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Lodging Segment Resort - Combination of Mountain and Lodging Segments Real Estate Segment Total Performance Outlook The Company's Resort Reported EBITDA guidance for the year ending July 31, 2025 is unchanged from the prior guidance provided on September 26, 2024 . The Company is updating its guidance for net income attributable to Vail Resorts, Inc., which it now expects to be between $240 million and $316 million , up from the prior guidance range of $224 million to $300 million . The primary difference is due to a $17 million increase from the gain on sale of real property related to the resolution of the October 2023 Eagle County District Court final ruling and valuation regarding the Town of Vail's condemnation of the Company's East Vail property that was planned for Vail Resorts' incremental affordable workforce housing project, a transaction that has been recorded as Real Estate Reported EBITDA. Additionally, the guidance is updated to include a decrease in expected interest expense of approximately $2 million which assumes that interest rates remain at current levels for the remainder of fiscal 2025. These changes have no impact on expected Resort Reported EBITDA. The Company continues to expect Resort Reported EBITDA for fiscal 2025 to be between $838 million and $894 million , including approximately $27 million of cost efficiencies and an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan, and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. As compared to fiscal 2024, the fiscal 2025 guidance includes the assumed benefit of a return to normal weather conditions after the challenging conditions in fiscal 2024, more than offset by a return to normal operating costs and the impact of the continued industry normalization, impacting demand. Additionally, the guidance reflects the negative impact from the record low snowfall and related shortened season in Australia in the first quarter of fiscal 2025, which negatively impacted demand and resulted in a $9 million decline of Resort Reported EBITDA compared to the prior year period. After considering these items, we expect Resort Reported EBITDA to grow from price increases and ancillary spending, the resource efficiency transformation plan, and the addition of Crans-Montana for the full year. The guidance also assumes (1) a continuation of the current economic environment, (2) normal weather conditions for the 2024/2025 North American and European ski season and the 2025 Australian ski season, and (3) the foreign currency exchange rates as of our original fiscal 2025 guidance issued September 26, 2024 . Foreign currency exchange rates have experienced recent volatility. Relative to the current guidance, if the currency exchange rates as of yesterday, December 8, 2024 of $0.71 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada , $0.64 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia , and $1.14 between the Swiss Franc and U.S. Dollar related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland were to continue for the remainder of the fiscal year, the Company expects this would have an impact on fiscal 2025 guidance of approximately negative $5 million for Resort Reported EBITDA. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2025 for Total Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Total Reported EBITDA guidance. Fiscal 2025 Guidance (In thousands) For the Year Ending July 31, 2025 (6) Low End High End Range Range Net income attributable to Vail Resorts, Inc. $ 240,000 $ 316,000 Net income attributable to noncontrolling interests 23,000 17,000 Net income 263,000 333,000 Provision for income taxes (1) 91,000 115,000 Income before income taxes 354,000 448,000 Depreciation and amortization 295,000 279,000 Interest expense, net 174,000 166,000 Other (2) 21,000 13,000 Total Reported EBITDA $ 844,000 $ 906,000 Mountain Reported EBITDA (3) $ 818,000 $ 872,000 Lodging Reported EBITDA (4) 16,000 26,000 Resort Reported EBITDA (5) 838,000 894,000 Real Estate Reported EBITDA 6,000 12,000 Total Reported EBITDA $ 844,000 $ 906,000 (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards may be in-the-money depending on the current value of the stock price. (2) Our guidance includes certain forward looking known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any forward looking change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. Additionally, our guidance excludes the impact of any future sales or disposals of land or other assets which are contingent upon future approvals or other outcomes. (3) Mountain Reported EBITDA also includes approximately $25 million of stock-based compensation. (4) Lodging Reported EBITDA also includes approximately $4 million of stock-based compensation. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.74 between the Canadian dollar and U.S. dollar, related to the operations of Whistler Blackcomb in Canada; an exchange rate of $0.67 between the Australian dollar and U.S. dollar, related to the operations of our Australian ski areas; and an exchange rate of $1.18 between the Swiss franc and U.S. dollar, related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland. Liquidity and Return of Capital As of October 31, 2024 , the Company's total liquidity as measured by total cash plus revolver availability was approximately $1,024 million . This includes $404 million of cash on hand, $407 million of U.S. revolver availability under the Vail Holdings Credit Agreement, and $213 million of revolver availability under the Whistler Credit Agreement. As of October 31, 2024 , the Company's Net Debt was 2.8 times its trailing twelve months Total Reported EBITDA. Regarding the return of capital to shareholders, the Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock payable on January 9, 2025 to shareholders of record as of December 26 , 2024. In addition, the Company repurchased approximately 0.1 million shares during the quarter at an average price of approximately $174 for a total of $20 million . The Company has 1.6 million shares remaining under its authorization for share repurchases. Commenting on capital allocation, Lynch said, "We will continue to be disciplined stewards of our shareholders' capital, prioritizing investments in our guest and employee experience, high-return capital projects, strategic acquisition opportunities, and returning capital to our shareholders. The Company has a strong balance sheet and remains focused on returning capital to shareholders while always prioritizing the long-term value of our shares." Capital Investments Vail Resorts is committed to enhancing the guest experience and supporting the Company's growth strategies through significant capital investments. For calendar year 2025, the Company plans to invest approximately $198 million to $203 million in core capital, before $45 million of growth capital investments at its European resorts, including $41 million at Andermatt-Sedrun and $4 million at Crans-Montana, and $6 million of real estate related capital projects to complete multi-year transformational investments at the key base area portals of Breckenridge Peak 8 and Keystone River Run, and planning investments to support the development of the West Lionshead area into a fourth base village at Vail Mountain. Including European growth capital investments, and real estate related capital, the Company plans to invest approximately $249 million to $254 million in calendar year 2025. Projects in the calendar year 2025 capital plan described herein remain subject to approvals. In calendar year 2025, the Company will embark on two multi-year transformational investment plans at Park City Mountain and Vail Mountain. In addition to embarking on two multi-year transformational investment plans, the Company is planning significant investments across the guest experience in calendar year 2025, including: In addition to the investments planned for calendar year 2025, the Company is completing significant investments that will enhance the guest experience for the upcoming 2024/2025 North American and European ski season. As previously announced, the Company expects its capital plan for calendar year 2024 to be approximately $189 million to $194 million , excluding $13 million of incremental capital investments in premium fleet and fulfillment infrastructure to support the official launch of My Epic Gear for the 2024/2025 winter season at 12 destination and regional resorts across North America , $7 million of growth capital investments at Andermatt-Sedrun, $2 million of maintenance and $2 million of integration investments at Crans-Montana, and $3 million of reimbursable capital. Including these one-time investments, the Company's total capital plan for calendar year 2024 is now expected to be approximately $216 million to $221 million . Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 579-2543 (U.S. and Canada ) or +1 (785) 424-1789 (international). The conference ID is MTNQ125. A replay of the conference call will be available two hours following the conclusion of the conference call through December 16, 2024 , at 11:59 p.m. eastern time . To access the replay, dial (800) 753-9146 (U.S. and Canada ) or +1 (402) 220-2705 (international). The conference call will also be archived at www.vailresorts.com . About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge , Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America ; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland ; and Perisher, Hotham, and Falls Creek in Australia . We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America . Learn more about our company at www.VailResorts.com , or discover our resorts and pass options at www.EpicPass.com . Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; our expectations regarding our resource efficiency transformation plan; and the payment of dividends. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe , or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , which was filed on September 26, 2024 . All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures. Vail Resorts, Inc. Consolidated Condensed Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended October 31, 2024 2023 Net revenue: Mountain and Lodging services and other $ 187,050 $ 182,834 Mountain and Lodging retail and dining 73,162 71,442 Resort net revenue 260,212 254,276 Real Estate 63 4,289 Total net revenue 260,275 258,565 Segment operating expense: Mountain and Lodging operating expense 266,264 255,576 Mountain and Lodging retail and dining cost of products sold 28,947 31,295 General and administrative 106,857 108,025 Resort operating expense 402,068 394,896 Real Estate operating expense 1,491 5,181 Total segment operating expense 403,559 400,077 Other operating (expense) income: Depreciation and amortization (71,633) (66,728) Gain on sale of real property 16,506 6,285 Change in estimated fair value of contingent consideration (2,079) (3,057) Loss on disposal of fixed assets and other, net (1,529) (2,043) Loss from operations (202,019) (207,055) Mountain equity investment income, net 2,151
ȂC2@{=H> qk-ѫ !º?fH-ih鍕l|͛3Iʆ˰0Î`͊8 /E 。
WASHINGTON — After decades of inaction, federal transportation officials have moved ahead with requiring new technologies to reduce crashes and fatalities involving large trucks. But the incoming administration could install a red light to block their efforts. At issue are proposed new rules by the Federal Motor Carrier Safety Administration and the National Highway Traffic Safety Administration to require large trucks to be equipped with automatic emergency braking systems and devices to limit their speeds. But advocates fear that such long-awaited progress to improve safety could end when Donald Trump replaces Joe Biden in the White House next month. Not only did Trump promise to reduce regulation but incoming Vice President JD Vance, while in the U.S. Senate, co-sponsored legislation to block the proposal requiring truckers to use speed limiters. "We are very nervous that safety-oriented rulemakings will be watered down or pulled altogether," said Zach Cahalan, executive director of the Truck Safety Coalition. After all, seven months after Trump took office the first time, his Transportation Department dropped efforts to require trucking companies and railroads to test employees for sleep apnea if symptoms were observed, even as the National Transportation Safety Board named reducing driver fatigue as one of its most-wanted safety improvements. "We want to hope for the best but based on the last time the Trump administration was in the White House, they did not advance safety regulations," said Harry Adler, principal at the Institute for Safer Trucking. The trucking industry gave 86% of its $13 million in campaign contributions to Republicans, including $1.2 million to Trump's campaign, according to the research group OpenSecrets. The 150,000-member strong Owner-Operators Independent Drivers Association already has let the new administration know of its opposition to speed limiters. "We look forward to working with the Trump administration and congressional allies to advance a pro-trucker agenda, which includes expanding truck parking, stopping unworkable environmental mandates and preventing a dangerous speed limiter mandate," OOIDA President Todd Spencer said. Cahalan said he "would not be surprised if the incoming administration chose to pull" the proposed rule on speed limiters, saying he expected it to be "on the chopping block." President Joe Biden and Congress pivoted to traffic safety after the pandemic led to a spike in highway deaths as motorists sped along near-empty roads. Fatalities in truck crashes nationally grew by 48% from 2013 to 2022, from 3,981 to 5,936. Pennsylvania reported a 19% increase during the same period, from 155 to 185. The 185 fatalities in the Keystone State in 2022 were the eighth highest in the nation, according to the Truck Safety Coalition. Transportation Secretary Pete Buttigieg in January 2022 used some of the money in the bipartisan infrastructure law for a new National Roadway Safety Strategy that called for using new technology, adjusting speed limits, changing road design and signage, and improving responses from medical personnel to stem the increase in traffic-related deaths. Safety rules In the law, Congress demanded certain new safety rules, including automatic emergency braking on trucks heavier than 10,000 pounds. The final braking rule is scheduled to be released in January, the same month Trump takes office. Trump could let the rule take effect or possibly propose weaker regulations. Meanwhile, NHTSA estimated that the proposed braking rule would prevent more than 19,000 crashes, save 155 lives, and prevent 8,814 injuries every year. A formal process to develop a rule on speed limiters is scheduled to begin in May. The Insurance Institute for Highway Safety said that in truck crashes on roads where the speed limit was identified, almost 40% of deaths in 2019, about 1,500 fatalities, occurred when the posted speed limit was 65 mph or higher. Adler said he hoped the rise in fatalities might be enough for the Trump administration to let the proposed rules take effect. "At a time when truck crash deaths are at some of their highest levels ever, we hope the data will encourage the administration to move ahead," he said. Long time coming Both rules have been decades in the making. The National Transportation Safety Board first recommended automatic emergency braking and speed limiters in 1995. The Transportation Department first said in 2011 that it would look at speed limiters, and proposed a rule requiring them in 2016. Automatic emergency braking joined the agenda in 2015. Safety advocates acknowledge that there could be some delays as the new administration puts its people in place, but said they would not let up on their efforts to see the new safety standards enacted. "A truck crash doesn't count what political affiliation you are," said Peter Kurdock, general counsel for Advocates for Highway and Auto Safety, an alliance of consumer, health, law enforcement and insurance industry groups. "There's really a very strong compelling case, whatever your view on regulations, this is a rulemaking that can save a lot of lives and makes a lot of sense." (c)2024 the Pittsburgh Post-Gazette. Visit the Pittsburgh Post-Gazette at www.post-gazette.com . Distributed by Tribune Content Agency, LLC.
None
Nebraska plans not to get caught sleeping vs. South Dakota
TORONTO — In pregame introductions, OG Anunoby was greeted with a polite round of applause as he returned to Toronto. And when RJ Barrett was introduced with all of the pomp and circumstance of a home team intro, he jumped and danced along the sideline. That mood carried over for much of the game as Barrett seemed intent on making a statement against the team that traded him away. But in the end, it was the Knicks who were jumping and celebrating after pulling out a 113-108 win at Scotiabank Arena. Barrett did his part, finishing with 30 points, eight rebounds and four assists, but the Knicks got a balanced attack topped by Karl-Anthony Towns (24 points, 15 rebounds, six assists) to survive. Jalen Brunson's four-point play with 3:03 left began a game-ending 12-4 run that gave the Knicks (15-9) the win. Mikal Bridges had 23 points and Brunson added 20 points and 11 assists. When the Knicks, clinging to a two-point lead, missed a layup, Barrett muscled the ball away from Towns, raced up the floor and hit a lefthanded layup between two defenders, tying the score at 108 with 42.1 seconds to play. But out of a timeout, Brunson was double-teamed and found Towns under the basket for a go-ahead layup with 36 seconds remaining. When Barrett got past Anunoby and challenged Towns for a layup, Anunoby blocked the shot from behind. Towns delivered a three-point field goal on a feed from Anunoby with 6.3 seconds to play, and this time the Knicks celebrated as wildly as Barrett did at the start of the game. With just over a minute left in the third quarter, Brunson backed up toward the sideline after draining a three-point field goal and appeared to step on a fan’s foot. He left the game when the Knicks called time and headed to the locker room. He returned to the bench early in the fourth quarter and re-entered the game with 6:35 left and the Knicks trailing 97-95. Josh Hart gave the Knicks the lead with a corner three-pointer after a steal. The Raptors briefly took the lead back before Towns drained a three on a feed from Brunson for a 101-99 advantage. With the score tied at 101 after Barrett's drive, Barrett drove and found Davion Mitchell in the corner for a three-pointer with 3:30 remaining. Brunson answered with a three of his own, drawing a foul on Mitchell on the play and converting the four-point play to give the Knicks a 105-104 lead with 3:03 left. Mitchell gave Toronto the lead, but Towns found Bridges in the corner for a go-ahead three-pointer. This meant something for Barrett. As he prepared to take the court for the Raptors against his former team on Monday night, he sat at his locker and paused for a moment as he considered a question. He thought back through his years in New York and realized that not a single player on the Knicks had been with the team when he arrived in the 2019 NBA Draft. Back then, he was supposed to be the next big thing in New York, the No. 3 overall pick and a turning point for a franchise that had been floundering for years. The Knicks built around him, and then nearly a year ago — Dec. 30, 2023 — he got the call that he was gone. And despite the history there, the key role he’d played, he wasn’t surprised at all. “Lots of stuff,” Barrett said, shaking his head. “Lots of stuff. I think I just got a vibe, kind of figured. I wasn’t really too surprised when it happened.” He was the first of the group that had carried the team to respectability to go, dealt along with Immanuel Quickley to his hometown team in exchange for OG Anunoby, Precious Achiuwa and Malachi Flynn. Julius Randle and Donte DiVincenzo eventually followed him out the door in a preseason deal for Towns — and that didn’t surprise him either. “Nah, I think there’s certain things that you see that are out of the usual,” Barrett said. “But I think whenever you get traded, it is a surprise. I didn’t know when it would happen, that fast, that early, but it happened. I’m here and I’m thankful to be here.'' Notes & quotes: With 6:47 to play in the third quarter, Towns and Scottie Barnes collided on a foul by Barnes. Towns was slow to get up, flexing his right knee. Barnes had to be helped off by teammates, limping to the locker room on one leg. He did not return, diagnosed with a sprained right ankle. Steve Popper covers the Knicks for Newsday. He has spent nearly three decades covering the Knicks and the NBA, along with just about every sports team in the New York metropolitan area.
None
The UK and Germany have agreed a landmark deal that will see police crack down on smugglers storing small boats in warehouses. New laws to be brought in by the German government will see authorities seize vessels earmarked for dangerous Channel crossings. Gang members smuggling people into the UK will be prosecuted as a result of the agreement signed by Home Secretary Yvette Cooper and Germany's Interior Minister, Nancy Faeser. Ms Cooper said lives will be saved as a result, with new laws leading to a surge in prosecutions. It follows the arrest last month of a 44-year-old man who was allegedly supplying engines and boats to smugglers. The Turkish national is accused of shipping supplies from his homeland, storing them in Germany before transporting them to Northern France. These boats were used by smugglers to transport asylum seekers across the Channel, investigators believe. The agreement with Germany will also see intelligence and law enforcement services share expertise and stop people smugglers using social media to attract business. So far this year, more than 70 people have died attempting to cross the Channel, including children. Ms Cooper said: "We are clear that this cannot go on. Germany is already a key partner in our efforts to crack down on migrant smuggling, but there is always more we can do together. "Our new Joint Action Plan with deliver a strengthened partnership with Germany, boosting our respective border security as we work to fix the foundations, and ultimately saving lives.” Ms Faeser said: "By cramming people into inflatable boats under threats of violence and sending them across the Channel, these organisations put human lives at risk. Many of these crimes are planned in Germany. "Together, we are now countering this unscrupulous business with even more resolve." A crucial meeting of the Calais Group - which brings together leaders from Belgium, France, The Netherlands, the European Commission and its agencies, Europol and Frontex - will be held in London on Tuesday. The summit will cover the role of illicit finance and intelligence sharing to tackle irregular migration.
Stock market today: Nvidia drags Wall Street from its records as oil and gold rise
AP News Summary at 3:38 p.m. ESTEntergy Corp. stock underperforms Monday when compared to competitorsSyrian government forces withdraw from central city of Homs as insurgent offensive accelerates
