LAS VEGAS — Players Era Festival organizers have done what so many other have tried — bet their fortunes in this city that a big payoff is coming. Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out. Be the first to know Get local news delivered to your inbox!Sarah Ferguson gives rare insight into grandchildren's lives with Christmas update‘Buy now, pay later’ is more popular than ever. It can cost more than you think
NoneLiverpool's lead cut as Newcastle snatch thrilling drawHOUSTON , Dec. 2, 2024 /PRNewswire/ -- OptiSigns, a leader in digital signage software solutions, is thrilled to announce its participation as a Platinum Sponsor in this year's Digital Signage Experience (DSE) 2024, taking place this December in Las Vegas, Nevada . The highly anticipated event, a premier gathering for digital signage innovators, professionals, and enthusiasts, will provide the perfect stage for OptiSigns to unveil its latest advancements and engage with industry leaders. Visitors of DSE 2024 will have the opportunity to experience firsthand how OptiSigns' powerful and user-friendly platform is transforming how businesses communicate, engage, and inform their audiences. From dynamic content scheduling to seamless integrations and real-time updates, OptiSigns' solutions are designed to meet the needs of businesses across industries, including retail, hospitality, healthcare, and more. "At OptiSigns, we are passionate about empowering businesses with technology that engages audiences and drives results," said Head of Sales John Shelley. "We are excited to connect with industry professionals at DSE 2024, showcase our solutions, and demonstrate how digital signage can transform communication strategies." DSE 2024 will take place from December 9, 2024 , to December 10, 2024 , at the Las Vegas Convention Center in Las Vegas, Nevada , and promises to bring together key players and thought leaders in digital signage, offering a unique platform to explore the latest technologies and network with industry professionals. What to Expect from OptiSigns at DSE 2024: Live Demonstrations: Visitors of DSE can visit OptiSigns booth #3134 to explore the intuitive features of the OptiSigns platform and learn how it can simplify and enhance digital signage management. Using OptiSigns innovative technology like the Pro Player and Android Stick, visitors will be treated to LIVE Demos of unique OptiSigns features like Audience Intelligence, the OptiSync Data Management System, and the Lift and Learn Interactive Kiosk Experience. New Product Announcements: Stop by OptiSigns booth #3134 and be the first to see the newest innovative Pro Max technology designed by OptiSigns and learn more about unique updates that will redefine the digital signage landscape. Our newest Pro Max technology is our most powerful digital signage player that supports 8K or 4x4K video walls. With OptiSigns experts onsite, visitors will have the opportunity to discuss trends, best practices, and strategies for maximizing the impact of digital signage. Exclusive Giveaways and Promotions: Attendees visiting OptiSigns booth #3134 will have access to special offers, giveaways, and prizes. This year, OptiSigns will unleash their interactive Opti Claw Machine, tantalizing visitors with a chance to win OptiSigns Android Sticks, Pro Players, Optibot Keychains, and more. One lucky winner will win a brand new PS5 Pro via a LinkedIn competition, and the winner will be announced LIVE at DSE! For more information on the PS5 giveaway, check out OptiSigns' LinkedIn page. About OptiSigns OptiSigns is a leading digital signage software provider dedicated to helping businesses create engaging, impactful content experiences. Focusing on simplicity, scalability, and innovation, OptiSigns empowers organizations to communicate their message effectively and captivate their audience through digital displays. For more information on OptiSigns, visit www.optisigns.com or follow us on all social media @OptiSignsInc. Media Contact: Aisha Albritton Director of Trade Show Strategy and Event Marketing Aisha.Albritton@OptiSigns.com | (404) 641-0613 View original content to download multimedia: https://www.prnewswire.com/news-releases/optisigns-to-showcase-cutting-edge-digital-signage-solutions-at-the-digital-signage-experience-2024-in-las-vegas-302320107.html SOURCE OptiSignsPete Hegseth, President-elect Donald Trump’s choice to be defense secretary, is joined by his wife Jennifer Rauchet as he speaks with reporters after meeting with Sen. Susan Collins, R-Maine, on Capitol Hill, Wednesday, Dec. 11, 2024, in Washington. (AP Photo/Mark Schiefelbein) Sen. Susan Collins, R-Maine, speaks with reporters after meeting with Pete Hegseth, President-elect Donald Trump’s choice to be defense secretary, on Capitol Hill, Wednesday, Dec. 11, 2024, in Washington. (AP Photo/Mark Schiefelbein) Pete Hegseth, President-elect Donald Trump’s choice to be defense secretary, arrives for a meeting with Sen. Bill Cassidy, R-La., on Capitol Hill, Wednesday, Dec. 11, 2024, in Washington. (AP Photo/Mark Schiefelbein) Pete Hegseth, President-elect Donald Trump’s choice to be defense secretary, is joined by his wife Jennifer Rauchet as he speaks with reporters after meeting with Sen. Susan Collins, R-Maine, on Capitol Hill, Wednesday, Dec. 11, 2024, in Washington. (AP Photo/Mark Schiefelbein) By MARY CLARE JALONICK and MATT BROWN WASHINGTON (AP) — Pete Hegseth, President-elect Donald Trump’s nominee to lead the Defense Department, said he had a “wonderful conversation” with Maine Sen. Susan Collins on Wednesday as he pushed to win enough votes for confirmation. He said he will not back down after allegations of excessive drinking and sexual misconduct. Related Articles National Politics | Donald Trump will ring the New York Stock Exchange bell. It’ll be a first for him National Politics | The Trump and Biden teams insist they’re working hand in glove on foreign crises National Politics | ‘You don’t know what’s next.’ International students scramble ahead of Trump inauguration National Politics | Trump is threatening to raise tariffs again. Here’s how China plans to fight back National Politics | Trump won’t be able to save the struggling US beef industry Collins said after the hourlong meeting that she questioned Hegseth about the allegations amid reports of drinking and the revelation that he made a settlement payment after being accused of a sexual assault that he denies. She said she had a “good, substantive” discussion with Hegseth and “covered a wide range of topics,” including sexual assault in the military, Ukraine and NATO. But she said she would wait until a hearing, and notably a background check, to make a decision. “I asked virtually every question under the sun,” Collins told reporters as she left her office after the meeting. “I pressed him both on his position on military issues as well as the allegations against him, so I don’t think there was anything that we did not cover.” The meeting with Collins was closely watched as she is seen as more likely than most of her Republican Senate colleagues to vote against some of Trump’s Cabinet picks. She and Alaska Sen. Lisa Murkowski, a fellow moderate Republican, did not shy from opposing Trump in his first term when they wanted to do so and sometimes supported President Joe Biden’s nominees for the judicial and executive branches. And Hegseth, an infantry combat veteran and former “Fox & Friends” weekend host, is working to gain as many votes as he can as some senators have expressed concerns about his personal history and lack of management experience. “I’m certainly not going to assume anything about where the senator stands,” Hegseth said as he left Collins’ office. “This is a process that we respect and appreciate. And we hope, in time, overall, when we get through that committee and to the floor that we can earn her support.” Hegseth met with Murkowski on Tuesday. He has also been meeting repeatedly with Iowa Sen. Joni Ernst, a military veteran who has said she is a survivor of sexual assault and has spent time in the Senate working on improving how attacks are reported and prosecuted within the ranks. On Monday, Ernst said after a meeting with him that he had committed to selecting a senior official to prioritize those goals. Republicans will have a 53-49 majority next year, meaning Trump cannot lose more than three votes on any of his nominees. It is so far unclear whether Hegseth will have enough support, but Trump has stepped up his pressure on senators in the last week. “Pete is a WINNER, and there is nothing that can be done to change that!!!” Trump posted on his social media platform last week.
Trump 2.0 has a Cabinet and executive branch of different ideas and eclectic personalitiesUN nuclear watchdog board passes resolution chiding Iran
NoneStock market today: Tech stocks and AI pull Wall Street to more records
None
From 3D printing to smart watches and doorbell cameras, modern technology has revolutionized the way we live, so why not the lives of our pets? When shopping this holiday season, you can never leave out the four-legged family members. For my family, those gifts are usually new chew toys or a bag of treats. Simple gifts but they always get the tail wagging. This year, rather than a new squeaky toy (that may end up torn to shreds anyway) spend a bigger buck on tech products that are just as much a gift to your pet as they are to you. As with most technology, pet tech has been growing in popularity over the years, providing pet owners with convenience, safety and health monitoring among other things. Pet technology includes a wide range of products, but most fall into the categories of health monitoring and management, safety and surveillance and enrichment. Health Monitoring and Management: If your pet is older or has any health concerns, products that aid in health monitoring are a great investment by helping to avoid any unexpected visits to the vet clinic. With a smart feeder and/or water dispenser, pet feeding becomes automated and portion controlled. This prevents overeating and helps to monitor food and water intake, evidencing any changes in appetite. There are even wearable fitness trackers such as the FitBark that will track a pet’s physical activity, sleep quality and more — an Oura Ring for your dog! Safety and Surveillance: For outdoor cats, wandering dogs or anxious animals, new surveillance technology can give owners peace of mind for their pet’s safety. GPS tracking devices are the simplest form of surveillance and great for those that wander. Gone are the days of hanging “lost dog” posters; a quick check of the paired GPS app will give exact coordinates of your adventurous pal. Keep them from getting lost to begin with by using automated pet doors. Automated pet doors have controlled access, only allowing authorized pets to enter or exit through their microchip or a sensor on their collar. Using an automated door allows owners to have more control over their pets’ movements and the ability to monitor some of their behavior. As home security systems gain in popularity, so do pet cameras and surveillance systems. Have an anxious pup? Check up on the animals while away from home. Some systems like the Petcube and Furbo 360 even include two-way audio for communication. Now you can ask, “Who’s a good boy?” from across the globe. Enrichment: Lastly are the pet toys and enrichment tools. Is your dog the type to keep coming back with a ball no matter how many times you throw it? Give your arm a rest with an automatic ball launcher such as the iFetch. Away from home for long hours during the day or need to distract your pet while working from home? Engage them with an electronic ball toy like the PetGeek. These are made for both dogs and cats and often dispense treats. Not as “smart” but more affordable, analog pet puzzles and snuffle mats will keep animals entertained with moving components and food rewards, giving them the mental stimulation that many indoor pets lack. And although technology continues to simplify our everyday, it is most important to engage with your pets whenever possible. An automated toy is not a reason for not throwing a frisbee for Fido – but all you pet lovers already know that!Rays will play 19 of their first 22 games at home as MLB switches series to avoid summer rainMinnesota Twins fans can now grab their tickets for upcoming TwinsFest events as well as 2025 spring training and regular-season home games. The Twins announced single-game and TwinsFest Weekend tickets on Monday. Javascript is required for you to be able to read premium content. Thanks for the feedback.
Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out.
WESTLAKE, Ohio--(BUSINESS WIRE)--Dec 11, 2024-- Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal fourth quarter ended October 31, 2024. Sales were $744 million, a 4% increase compared to the prior year’s fourth quarter sales of $719 million. The increase in fourth quarter 2024 sales included the favorable 6% impact of acquisitions and favorable currency translation of 1%, offset by an organic sales decrease of 3%. Net income was $122 million, or earnings per diluted share of $2.12, compared to prior year’s fourth quarter net income of $128 million, or earnings per diluted share of $2.22. Adjusted net income was $160 million, an increase from prior year adjusted net income of $156 million. Fourth quarter 2024 adjusted earnings per diluted share were $2.78 compared to prior year adjusted earnings per diluted share of $2.71. EBITDA in the fourth quarter was $241 million, or 32% of sales, an increase of 4% compared to prior year EBITDA of $227 million, also at 32% of sales. Commenting on the Company’s fiscal 2024 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “I appreciate our team’s focus and commitment to our customers, which delivered results above our fourth quarter guidance expectations. Our Advanced Technology Solutions segment delivered year-over-year fourth quarter sales growth, as electronics demand continued to steadily improve at fiscal year-end. During the down electronics cycle, our ATS team holistically implemented the NBS Next growth framework, making them responsive to the needs of our customers while also delivering a strong incremental operating performance. Our industrial product lines performed well against record comparisons from prior year. I’m also pleased with the early integration of our Atrion Medical acquisition, which contributed positively to the quarter.” Fourth Quarter Segment Results Industrial Precision Solutions sales of $392 million decreased 3% compared to the prior year fourth quarter, driven by a 5% organic sales decrease, a favorable acquisition impact of 1%, and a favorable currency impact of 1%. The organic sales decrease, following record organic sales in prior year fourth quarter, was driven by our industrial coatings, polymer processing and precision agriculture product lines, partially offset by double-digit growth in nonwovens product lines. Operating profit was $126 million in the quarter, or 32% of sales, a decrease of 4% compared to the prior year operating profit. The decrease in operating profit was driven by lower sales. EBITDA in the quarter was $143 million, or 37% of sales, a 3% decrease from the prior year fourth quarter EBITDA of $148 million, which also was 37% of sales. Medical and Fluid Solutions sales of $200 million increased 19% compared to the prior year fourth quarter, driven primarily by the acquisition of Atrion, which offset an organic sales decrease of 3% and a favorable currency impact of 1%. The organic sales decrease was driven by softness in medical interventional solutions product lines, partially offset by modest growth in our medical fluid components and fluid solutions product lines. Operating profit totaled $44 million in the quarter, or 22% of sales, a decrease of 8% compared to the prior year operating profit. EBITDA in the quarter was $72 million, or 36% of sales, an increase versus the prior year fourth quarter EBITDA of $62 million, or 37% of sales. Advanced Technology Solutions sales of $152 million increased 5% compared to the prior year fourth quarter, driven by an organic sales increase of 4% and a favorable currency impact of 1%. The organic sales increase was driven by double-digit growth in select test and inspection product lines and modest growth in our electronics processing product lines. Operating profit totaled $33 million in the quarter, or 22% of sales, an increase of 6% compared to the prior year operating profit due to higher sales and improved profit margins. EBITDA in the quarter was $41 million, or 27% of sales, an increase from the prior year fourth quarter EBITDA of $35 million, or 24% of sales. Fiscal 2024 Full Year Results Sales for the fiscal year ended October 31, 2024, were a record $2.7 billion, an increase of 2% compared to the prior year. This sales growth was driven by a favorable acquisition impact of 5%, partially offset by a 3% decrease in organic volume. Net income was $467 million, or earnings per diluted share of $8.11, compared to prior year’s net income of $487 million, or earnings per diluted share of $8.46. Adjusted net income was $561 million, a decrease from prior year adjusted net income of $567 million. Adjusted earnings per diluted share were $9.73 compared to prior year adjusted earnings per diluted share of $9.85. EBITDA was $849 million, or 32% of sales, compared to prior year EBITDA of $819 million, or 31% of sales. Free cash flow for the full-year was $492 million, which was a conversion rate of 105% of net income. Reflecting on fiscal 2024, Mr. Nagarajan continued, “In 2021, we launched our Ascend strategy with the milestone of achieving $3 billion in annual sales and greater than 30% EBITDA margins by 2025. The strategy is delivering results and has ample runway to accelerate. Our diversified portfolio, built on our leadership in niche end markets with differentiated products, is delivering balanced results in the ever-changing macro environment. Our acquisition strategy is generating growth, and I am pleased with the integration and deployment of the NBS Next growth framework. We also continued to generate strong free cash flow in the year, allowing us to consistently reinvest in the business while returning cash to our shareholders.” Outlook Following four consecutive years of record-setting performance, we enter fiscal 2025 with approximately $580 million in backlog. Based on the combination of order entry, backlog, current exchange rates and anticipated end market expectations, we anticipate delivering sales in the range of $2,750 to $2,870 million in fiscal 2025. Full year fiscal 2025 adjusted earnings are forecasted in the range of $9.70 to $10.50 per diluted share. First quarter fiscal 2025 sales are forecasted in the range of $615 to $655 million with adjusted earnings in the range of $1.95 to $2.15 per diluted share. Commenting on fiscal 2025 guidance, Nagarajan said, “Considering the evolving global macro-environment, we are entering 2025 with a conservative viewpoint. The fiscal first quarter is seasonally Nordson’s weakest quarter due to the holiday and calendar year-end slowdowns and cautious customer spending. While we remain confident about the long-term growth drivers of our end markets, we are being prudent about our expectations for end market recovery timing, particularly for our electronics and agricultural product lines. Even in uncertain times, our team delivers operational excellence and strong cash flow due to our close-to-the-customer business model, diversified niche end markets, differentiated products and the NBS Next growth framework.” Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, December 12, 2024 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com . Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com . Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release. Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com , linkedin/Nordson , or www.facebook.com/nordson . View source version on businesswire.com : https://www.businesswire.com/news/home/20241211087016/en/ CONTACT: Lara Mahoney Vice President, Investor Relations & Corporate Communications 440.204.9985 Lara.Mahoney@nordson.com KEYWORD: OHIO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION PACKAGING ENGINEERING SEMICONDUCTOR TECHNOLOGY MANUFACTURING OTHER MANUFACTURING SOURCE: Nordson Corporation Copyright Business Wire 2024. PUB: 12/11/2024 04:30 PM/DISC: 12/11/2024 04:32 PM http://www.businesswire.com/news/home/20241211087016/enThey have literally learned nothing. Nothing. The establishment media are at it again, now openly attacking President-elect Donald Trump’s cabinet picks with salacious and unverified misinformation in an apparent campaign they are waging to try to sink the president-elect’s incoming administration. Meanwhile, the sitting and outgoing President of the United States, Joe Biden, just issued what amounts to one of the most controversial pardons in American history on Sunday evening when he pardoned his son, Hunter Biden. Biden’s complete and unconditional pardon of his son spans more than a decade and is more expansive than Gerald Ford’s pardon of Richard Nixon after the Watergate scandal. Yet, again, what are the establishment media focused on? Well, the supposedly respected and revered New York Times and New Yorker are leading a campaign to try to tank Pete Hegseth’s appointment by Trump to be the Secretary of Defense in his incoming administration, while CNN’s deep state stooges are going ballistic over attorney Kash Patel, Trump’s pick to run the FBI. Others are attacking his nominee for Director of National Intelligence, former Rep. Tulsi Gabbard of Hawaii–a former Democrat who left the party and joined the GOP this year when she endorsed Trump–over nonsensical claims that she is somehow a Russian agent. Obviously all of these smears are dubious at best, and frankly many of them are being spread by the very same people who spread fake attacks repeatedly on Trump for a decade–and also importantly by people who covered for the deep state and Democrats including Biden during this same timeframe. It begs several questions: How did the media industry get so far off on the wrong track and does anything they say even matter anymore? What are the origins of this fact-free information warfare? Why are they waging it? What’s their end game? On whose behalf are they doing it? Will they ever change? Let’s start with delving into what should be the biggest story in American politics by far: Biden pardoning his son Hunter after repeatedly lying to the country and telling everyone for years he would not do exactly what he just did is a massive scandal. The pardon is expansive, and will take months if not years to fully investigate but some things are abundantly clear from the outset: The president’s actions shield not just his son but himself as well from scrutiny. This pardon covers a span dating back to January 2014, when Biden was Vice President of the United States and his son was working for the natural gas company Burisma in Ukraine. Biden, of course, threatened to withhold aid to the Ukrainians if they did not fire a government prosecutor who was investigating his son’s employer. Well, the pardon of Hunter Biden by his father the president ensures that there will be no criminal consequences for that whole fiasco if there were ever going to be any to begin with. There are plausible legal arguments in favor or against the pardon. In favor of it, former Biden family press aide Michael LaRosa offered a justification in an interview with The Hill by saying he thinks the various cases against Hunter Biden on the tax and gun issues were weak and that legally the pardon makes sense: Okay fine, even if you agree with that argument–but certainly if you do not–you cannot miss the fact that what appears to be the first ever presidential pardon of a family member this close to the sitting President of the United States is hugely politically controversial at best and perhaps devastating for Democrats long-term. Even LaRosa understands the political problems of this, and particularly the quagmire Biden forced them into by repeatedly lying to the country and claiming that he would not under any circumstances do what he just did. But then we cross into the theater of the absurd when we look at how some others are framing it. What does the New York Times’s top columnist, Ezra Klein, have to say about the pardon? Well, he blames Trump for it. What?!?!?!? Seriously? How is Biden issuing a more expansive pardon than Ford’s Nixon pardon post-Watergate to his own son even remotely possibly Trump’s fault? Regardless of that ridiculous argument, there are at least a million follow-up questions that need to be asked of Biden and his White House. First off, is he done pardoning family members? Does he intend to pardon himself? How about his brothers and sister? What about other family members? What about administration officials like his cabinet members or White House staff? Biden, for good measure, issued the pardon moments before he hopped on Air Force One to jet overseas for what is likely his last foreign trip as president off to Angola ensuring he will not be in the spotlight here at home on this in the days immediately following the highly controversial move. There are no White House press briefings for several days either, and White House press secretary Karine Jean-Pierre–one of the least honest people to ever hold the job–will not have to face cameras for some time on this. To their credit, some Democrats like Colorado Gov. Jared Polis and Rep. Greg Stanton (D-AZ) did publicly criticize Biden’s move immediately: Since Sunday night with those statements, other Democrats have joined the party late. Per Axios , other members like Reps. Jared Golden (D-ME) and Marie Gluesenkamp Perez (D-WA) have joined in criticizing it. Several other Democrats have joined in on the chorus criticizing Biden too: But former Attorney General Eric Holder, the right hand man of former President Barack Obama–to whom Biden served as Vice President and whose administration some of the Hunter Biden pardoned activities like the aforementioned Ukraine shenanigans happened during–was out actually defending the pardon. It’s no surprise to see Holder, who was voted into criminal and civil contempt of Congress for refusing to comply with lawfully issued congressional subpoenas over the Operation Fast and Furious gun-walking scandal that led to the murder of a U.S. Border Patrol agent named Brian Terry, show such a disregard for the rule of law. But again, this perverted vision of justice and law and order that most of the Democratic Party has embraced in the modern era–a vision that Americans have rejected at the ballot box multiple times including most recently less than a month ago when they sent Trump back to the White House–does seem to have begun with Holder during his time as attorney general during the Obama administration. Regardless of Holder’s nonsensical argument attempting to justify this egregious action by Biden, this pardon of Hunter Biden is absolutely one of the most damning political indictments of Democrats as a party and could have serious long-term damaging consequences for them as time goes on. Nate Silver, the statistician and polling analyst whose modeling every election cycle aims to capture the picture of the electorate, sounded off furiously about the pardon on Sunday evening noting that while he voted for Vice President Kamala Harris against Trump in the November election that nobody should ever vote for any Democrat who does not condemn Biden’s pardon of his son. This decision by Biden to pardon his son is both shockingly egregious and completely unsurprising. Of course, in hindsight, the president was without question going to do this. And of course he, the White House, and the Democrats were going to absolutely lie about it until he did it. But the fact of the matter is the move is so over-the-top–even though expected–that it deserves major scrutiny of how the nation got here. First off, back when stories about Hunter Biden first surfaced like the New York Post’s original report on his “laptop from hell,” deep state actors from the so-called “intelligence community” circulated a letter calling it disinformation. Then later when that collapsed and Hunter Biden was charged and then convicted of several crimes–despite a last second plea deal attempt that collapsed with the slightest bit of scrutiny from a federal judge–the establishment media went all in on the lies from Biden and the White House that Biden would not pardon his son. None of these people has shown even the slightest bit of remorse for their actions in this. All of them–at least as far as we can tell right now–think they did nothing wrong. In fact, some of them even as recently as Monday morning when asked by Breitbart News if they had any remorse for their actions got extremely defensive and claimed they were just reporting what the president said at the time. Others, like CNN’s Elie Honig, are putting the blame on Biden saying that he lied to the country for a long time about this: The deeper issues with America’s law enforcement and intelligence agencies date back much further than Biden’s presidency, to be fair, but he and his inner circle have not only done nothing about fixing them they have actually very much exacerbated them. The FBI, Justice Department, CIA, NSA, and many others in the intelligence and federal law enforcement apparatus–broadly, the “deep state”–have issues that date back to even long before Obama ascended the presidency in 2008. There were Ruby Ridge and the Waco siege back in the early 1990s, sure, but things really seem to have intensified when Obama was elected and when he picked Holder as his attorney general. Holder, by almost every account, was by far the most partisan attorney general in modern history. He gladly bore the informal title of Obama’s “wingman,” and he regularly engaged in highly partisan activity atop the Justice Department. In fact, emails uncovered thanks to the Freedom of Information Act (FOIA) showed that Holder’s staff regularly colluded with George Soros-funded Media Matters for America to smear conservatives including journalists like specifically me when I worked for Daily Caller more than 12 years ago. The Justice Department under Holder lied about this for years, and then finally released the records years later. That was the beginning of the weaponization as it’s been seen in modern times, and since then after Trump’s first term in office when Biden rose to power we’ve seen his attorney general, Merrick Garland, and specifically Garland’s deputy Lisa Monaco (who Trump told Breitbart News recently is clearly “really running” things over there at Main Justice) refine the tactics first deployed by Holder to include actual law enforcement actions against conservatives like the January 6 protesters and pro-life activists among others. That doesn’t even get into what the Biden DOJ did to Trump himself. They charged Trump with ridiculous allegations of federal crimes–charges they have now dropped post election, essentially an admission the case was purely political from the get-go–and they had the FBI raid his home at Mar-a-Lago. Think about that for a minute: Joe Biden’s Justice Department and FBI raided the personal home of his chief political rival on obviously ridiculous charges that they now admit were purely political since they are no longer pursuing the cases. Perhaps that’s why seeing Holder’s comments on the Hunter Biden pardon is so fascinating–and it brings us to the next major point to focus on here as Trump assembles a government to take over after his inauguration on Jan. 20, 2025. In literally the exact same social media post as the one in which Holder defends the Hunter Biden pardon he then proceeds to attack Trump’s pick of Patel to lead the FBI. Why does Holder not want Patel at the FBI? Is it because Patel will actually bring some real reforms to the bureau that may uncover some nasty and gnarly things Holder himself or his goons did when he was in power? Holder asks a rhetorical question in that post defending the Hunter Biden pardon which is whether Patel is “qualified” to lead the FBI, then answers his own question by saying “hell no.” Former FBI deputy director Andrew McCabe sounded off on CNN literally within seconds of Patel’s appointment announcement, too, with the same argument: Holder and McCabe–and everyone else ripping him–are ignoring Patel’s impeccable credentials. Patel was a senior attorney on the House Permanent Select Committee on Intelligence (HPSCI). He was the Pentagon chief of staff. He was a senior adviser to the Director of National Intelligence. He served as a top counterterrorism adviser on the National Security Council (NSC) in the White House during Trump’s first term, literally helping plan the counterterrorist actions against people like ISIS leader Abu Bakr Al-Baghdadi–where Trump ordered his assassination and once and for all ended ISIS after the Obama-era geniuses who ran the military and intelligence communities said ISIS could never be defeated. Patel had an illustrious career before that as a federal prosecutor–yes, he prosecuted more cases than Kamala Harris did–and even won an award from the very same Obama-era DOJ that Holder led for his successful prosecution of terrorists. In other words, Patel is absolutely eminently qualified to serve as FBI director and anyone who argues otherwise–like Holder or McCabe–is lying. That begs the question: Why are they lying? What it is about Patel they hate so much that they would blow their own credibility in a desperate mad dash to stop him? Well, it’s probably that Patel is going to actually reform the way things work at the FBI if confirmed, and that change is coming to the bureau at long last. What would that mean for people like McCabe and Holder? What would it mean for the establishment media figures who have worked closely with people like them for the last decade or longer? Well, beyond an ideological shift from the left to the right, people like Patel getting confirmed into positions like FBI director mean serious institutional change that could threaten the very livelihoods of those who have made careers out of things generally staying the way they long have been at these places. In other words, no it’s not that these folks are engaged in widespread criminality that the FBI is all of a sudden going to uncover if Patel is confirmed and calling the shots over there–though there certainly might be some of that–it’s more that the drastic changes to the way things have long been shifts power and control away from the failed people of the past toward a different and new future and that change is scary to powerful people who pull down hefty salaries and have built lives around what they’re doing. A similar type of scenario exists with Hegseth. No part of the federal government is swampier than the Department of Defense, and the Pentagon blows through cash like newborn babies blow through diapers. Since he’s not part of the current Pentagon leadership structure of generals and political officials from which presidents usually pick Secretaries of Defense, Hegseth represents a major institutional shift away from the ways of the past toward serious change. As Trump’s other allies over at the newly-formed Department of Government Efficiency (DOGE) Elon Musk and Vivek Ramaswamy have already made clear, DOGE is very likely to focus on Pentagon waste. That makes insiders who currently control the levers of power–and thereby the flow of cash–very uneasy. So cue the media attacks, as the New York Times dug up Hegseth’s divorce records to uncover a deeply personal from his mother–one she retracted almost immediately, as Breitbart News reported–to smear Hegseth. The New Yorker followed suit with a suspect report on Hegseth written a decade ago before he even worked at Fox News back when he was running a veteran’s group. The media is likely to continue these attacks all the way until either Hegseth is confirmed or not. The New Yorker’s Jane Mayer ironically calls Breitbart News a mouthpiece for Trump, yet she in her story reveals she was actually whipping Senate votes against Hegseth because she quotes Sen. Richard Blumenthal (D-CT) as reacting to the terrible character assassination of Hegseth contained within her piece. (Mayer was upset that Breitbart News preempted her piece with one of our own, thereby taking the sting out of her reporting). Then of course there are other Trump picks like Gabbard and RFK who are also under fire. And the anti-Trump forces already got former Rep. Matt Gaetz (R-FL) to withdraw as Trump’s pick for attorney general–Trump has since replaced him with former Florida Attorney General Pam Bondi, who’s likely to sail to confirmation–so they are clearly on the hunt for as many scalps as they can get. The question really becomes whether Republicans in the Senate fall for it–again–or if they reject the smear campaigns of these increasingly desperate leftists and media figures like they did when they confirmed Justice Brett Kavanaugh to the U.S. Supreme Court. Time will tell.
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100-scam disgraced travel agent goes after informerTORONTO -- The Utah Hockey Club said players were forced to walk to their game against the Maple Leafs after their bus got stuck in Toronto traffic Sunday night. The team posted a video on social media of team members walking to Scotiabank Arena, with player Maveric Lamoureux saying the bus was "not moving at all." Several city streets had been closed during the day for the annual Santa Claus parade. The Maple Leafs earned their fourth consecutive win by defeating Utah 3-2. Editor's Picks NHL head-coach hot seat index: After Bruins and Blues make changes, who's next? 7h Greg Wyshynski The viral incident prompted Ontario Premier Doug Ford to call the congestion "embarrassing" and "unacceptable," highlighting his government's plan to address the city's gridlock through bike lane legislation. It wasn't the first time a Toronto visitor had to ditch their vehicle to make it to an event on time. In June, former One Direction band member Niall Horan had to walk through traffic to get to his concert at Scotiabank Arena.
Expedia Group Inc. stock rises Monday, still underperforms marketHighlights Revenues of $749.3 million for the quarter ended October 27, 2024; operating earnings of $79.3 million; and net earnings attributable to shareholders of the Corporation of $47.9 million ($0.57 per share). Adjusted operating earnings before depreciation and amortization (1) of $142.2 million for the quarter ended October 27, 2024; adjusted operating earnings (1) of $105.1 million; and adjusted net earnings attributable to shareholders of the Corporation (1) of $67.3 million ($0.79 per share). Revenues of $2,812.9 million for the fiscal year 2024; operating earnings of $209.5 million; and net earnings attributable to shareholders of the Corporation of $121.3 million ($1.41 per share). Adjusted operating earnings before depreciation and amortization (1) of $469.4 million for the fiscal year 2024; adjusted operating earnings (1) of $320.6 million; and adjusted net earnings attributable to shareholders of the Corporation (1) of $201.4 million ($2.34 per share). Growth in adjusted operating earnings before depreciation and amortization (1) of 5.1% for the fiscal year ended October 27, 2024, with an increase of 14.2% in the Packaging Sector and an increase of 2.1% in the Retail Services and Printing Sector. Repurchase of 2.1 million shares during the fiscal year ended October 27, 2024, for a total consideration of $32.3 million. Subsequent to the end of fiscal year 2024, sale of the industrial packaging operations to Hood Packaging Corporation for an amount of $132.0 million (US$95.0 million). (1) Please refer to the section entitled "Non-IFRS Financial Measures" in this press release for a definition of these measures. MONTREAL, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the fourth quarter and fiscal year 2024, which ended October 27, 2024. "Once again, we posted solid quarterly results and therefore ended the fiscal year on a strong note," said Thomas Morin, President and Chief Executive Officer of TC Transcontinental. "I am very pleased with the excellent results for fiscal 2024 and would like to thank our teams for their disciplined work in reducing costs and improving profitability. "In our Packaging Sector, despite the ongoing pressure on our medical market activities, we reported a 6.5% increase in adjusted operating earnings before depreciation and amortization for the quarter, mainly as a result of our cost reduction initiatives. For the fiscal year 2024, our adjusted operating earnings before depreciation and amortization amounted to $262.2 million, up 14.2% compared to the prior year. "In our Retail Services and Printing Sector, we recorded an increase in adjusted operating earnings before depreciation and amortization for a second consecutive quarter. The actions taken to improve our cost structure, a more favourable product mix, including the roll-out of raddar TM , as well as growth in our in-store marketing activities, continue to show results. For fiscal 2024, our adjusted operating earnings before depreciation and amortization stood at $201.0 million, an increase of 2.1% compared to the prior year. "Mainly as a result of the implementation of the program aimed at improving our profitability and our financial position, we posted a solid performance for fiscal 2024," added Donald LeCavalier, Executive Vice President and Chief Financial Officer of TC Transcontinental. "In addition, we generated significant cash flows in fiscal 2024 which, combined with the monetization of some real estate assets, enabled us to improve our balance sheet by reducing our net indebtedness ratio to 1.71 times the adjusted operating earnings before depreciation and amortization while allocating $32.3 million to our share repurchase program." Financial Highlights Results for the Fourth Quarter of Fiscal 2024 Revenues decreased by $30.4 million, or 3.9%, from $779.7 million in the fourth quarter of 2023 to $749.3 million in the corresponding period of 2024. This decrease is mainly due to lower volume in the Retail Services and Printing Sector and the Packaging Sector, partially mitigated by the favourable effect of exchange rate fluctuations. Operating earnings before depreciation and amortization increased by $8.6 million, or 7.0%, from $123.2 million in the fourth quarter of 2023 to $131.8 million in the fourth quarter of 2024. This increase is mainly attributable to our cost reduction initiatives and the decrease in asset impairment charges, partially offset by lower volume and the rise in restructuring and other costs. Despite an increase in adjusted operating earnings before depreciation and amortization in the two main operating sectors, consolidated adjusted operating earnings before depreciation and amortization decreased by $3.3 million, or 2.3%, from $145.5 million in the fourth quarter of 2023 to $142.2 million in the fourth quarter of 2024. This decrease is mainly due to the unfavourable effect of the change in the incentive compensation expense, including the stock-based compensation expense. Net earnings attributable to shareholders of the Corporation increased by $6.2 million, or 14.9%, from $41.7 million in the fourth quarter of 2023 to $47.9 million in the fourth quarter of 2024. This increase is mainly attributable to the previously explained increase in operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, net earnings attributable to shareholders of the Corporation went from $0.48 to $0.57, respectively. Adjusted net earnings attributable to shareholders of the Corporation decreased by $4.5 million, or 6.3%, from $71.8 million in the fourth quarter of 2023 to $67.3 million in the fourth quarter of 2024. This decrease is mainly due to the previously explained decrease in adjusted operating earnings before depreciation and amortization and higher income taxes, partially mitigated by the decrease in depreciation and amortization, and lower financial expenses. On a per share basis, adjusted net earnings attributable to shareholders of the Corporation went from $0.83 to $0.79, respectively. Results for Fiscal Year 2024 Revenues decreased by $127.7 million, or 4.3%, from $2,940.6 million in fiscal year 2023 to $2,812.9 million in the corresponding period of 2024. This decrease is mainly due to lower volume in the Retail Services and Printing Sector as well as in the Packaging Sector. Operating earnings before depreciation and amortization increased by $25.1 million, or 6.3%, from $399.6 million in fiscal year 2023 to $424.7 million in the corresponding period of 2024. This increase is mainly attributable to our cost reduction initiatives and the decrease in asset impairment charges, partially offset by lower volume and the rise in restructuring and other costs. Adjusted operating earnings before depreciation and amortization increased by $22.9 million, or 5.1%, from $446.5 million in fiscal year 2023 to $469.4 million in the corresponding period of 2024. This increase is mainly attributable to our cost reduction initiatives, partially offset by lower volume. Net earnings attributable to shareholders of the Corporation increased by $35.5 million, or 41.4%, from $85.8 million in fiscal year 2023 to $121.3 million in the corresponding period of 2024. This increase is mainly attributable to the previously explained increase in operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, net earnings attributable to shareholders of the Corporation went from $0.99 to $1.41, respectively. Adjusted net earnings attributable to shareholders of the Corporation increased by $25.4 million, or 14.4%, from $176.0 million in fiscal year 2023 to $201.4 million in the corresponding period of 2024. This increase is mainly attributable to the previously explained increase in adjusted operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, adjusted net earnings attributable to shareholders of the Corporation went from $2.03 to $2.34, respectively. For more detailed financial information, please see the Management’s Discussion and Analysis for the year ended October 27, 2024, as well as the financial statements in the “Investors” section of our website at www.tc.tc . Outlook In the Packaging Sector, our investments, including those related to sustainable packaging solutions, position us well for the future and should be a key driver of our long-term growth. In terms of profitability, we expect to generate organic growth in adjusted operating earnings before depreciation and amortization for fiscal 2025 compared to fiscal 2024. In the Retail Services and Printing Sector, we are encouraged by the roll-out of raddar TM and growth opportunities in our in-store marketing activities. Despite a decrease in revenues resulting from lower volume in our traditional activities and the roll-out of raddar TM , we expect adjusted operating earnings before depreciation and amortization for fiscal 2025 to be stable compared to fiscal 2024, excluding the impact of the labour conflict at Canada Post. Lastly, in addition to the amount received for the sale of our industrial packaging operations, we expect to continue generating significant cash flows from operating activities, which will enable us to reduce our net indebtedness while continuing to make strategic investments and return capital to our shareholders. Labour Conflict at Canada Post On November 15, 2024, the Canadian Union of Postal Workers initiated a national strike. As of December 11, 2024, this labour conflict at Canada Post, which remain unresolved, is disrupting the distribution services of flyers, including the raddar TM leaflet. As a result, the Corporation is incurring revenue losses in regions where raddar TM is not distributed through alternative networks, as well as additional costs, including the printing costs of undistributed flyers and the establishment of alternative distribution networks in certain regions of Quebec. As of December 11, 2024, the revenue losses, and consequently the profit losses, along with the additional costs, are estimated at approximately $7.0 million. Non-IFRS Financial Measures In this document, unless otherwise indicated, all financial data are prepared in accordance with International Financial Reporting Accounting Standards ("IFRS") and the term "dollar", as well as the symbol "$" designate Canadian dollars. In addition, in this press release, we also use certain non-IFRS financial measures for which a complete definition is presented below and for which a reconciliation to financial information in accordance with IFRS is presented in the section entitled "Reconciliation of Non-IFRS Financial Measures" and in Note 3, "Segmented Information", to the audited annual consolidated financial statements for the fiscal year ended October 27, 2024. Reconciliation of Non-IFRS Financial Measures The financial information has been prepared in accordance with IFRS. However, financial measures used, namely adjusted operating earnings before depreciation and amortization, adjusted operating earnings, adjusted income taxes, adjusted net earnings attributable to shareholders of the Corporation, adjusted net earnings attributable to shareholders of the Corporation per share, net indebtedness and net indebtedness ratio, for which a reconciliation is presented in the following table, do not have any standardized meaning under IFRS and could be calculated differently by other companies. We believe that many of our readers analyze the financial performance of the Corporation’s activities based on these non-IFRS financial measures as such measures may allow for easier comparisons between periods. These measures should be considered as a complement to financial performance measures in accordance with IFRS. They do not substitute and are not superior to them. The Corporation also believes that these measures are useful indicators of the performance of its operations and its ability to meet its financial obligations. Furthermore, management also uses some of these non-IFRS financial measures to assess the performance of its activities and managers. Dividend The Corporation's Board of Directors declared a quarterly dividend of $0.225 per share on Class A Subordinate Voting Shares and Class B Shares. This dividend is payable on January 20, 2025, to shareholders of record at the close of business on January 6, 2025. Normal Course Issuer Bid On June 12, 2024, the Corporation has been authorized to repurchase, for cancellation on the open market, or subject to the approval of any securities authority by private agreements, between June 17, 2024 and June 16, 2025, or at an earlier date if the Corporation concludes or cancels the offer, up to 3,662,967 of its Class A Subordinate Voting Shares and up to 668,241 of its Class B Shares. The repurchases are made in the normal course of business at market prices through the Toronto Stock Exchange. During the fourth quarter of 2024, the Corporation repurchased and cancelled 900,459 Class A Subordinate Voting Shares at a weighted average price of $16.20 and 2,000 Class B Shares at a weighted average price of $16.39, for a total cash consideration of $14.6 million. During fiscal 2024, the Corporation repurchased and cancelled 2,060,217 Class A Subordinate Voting Shares at a weighted average price of $15.65 and 7,000 Class B Shares at a weighted average price of $15.66, for a total cash consideration of $32.3 million. On October 16, 2024, the Corporation authorized its broker to repurchase shares between October 28, 2024, and December 13, 2024, inclusively, in accordance with parameters set by the Corporation. Subsequent to the year ended October 27, 2024, the Corporation repurchased 413,278 Class A Subordinated Voting Shares and 2,400 Class B Shares for a total cash consideration of $7.0 million. Additional information Conference Call Upon releasing its results for the fourth quarter and fiscal 2024, the Corporation will hold a conference call for the financial community on December 12, 2024, at 8:00 a.m. The dial-in numbers are 1-289-514-5100 or 1-800-717-1738. Media may hear the call in listen-only mode or tune in to the simultaneous audio broadcast on TC Transcontinental’s website, which will then be archived for 30 days. For media requests or interviews, please contact Nathalie St-Jean, Senior Advisor, Corporate Communications of TC Transcontinental, at 514-954-3581. Profile TC Transcontinental is a leader in flexible packaging in North America and in retail services in Canada, and is Canada’s largest printer. The Corporation is also the leading Canadian French-language educational publishing group. Since 1976, TC Transcontinental's mission has been to create quality products and services that allow businesses to attract, reach and retain their target customers. Respect, teamwork, performance and innovation are the strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner. Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has approximately 7,500 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental generated revenues of $2.8 billion during the fiscal year ended October 27, 2024. For more information, visit TC Transcontinental's website at www.tc.tc . Forward-looking Statements Our public communications often contain oral or written forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them. Forward-looking statements may include observations concerning the Corporation's objectives, strategy, anticipated financial results and business outlook. The Corporation's future performance may also be affected by a number of factors, many of which are beyond the Corporation's will or control. These factors include, but are not limited to the impact of digital product development and adoption, the impact of changes in the participants in the distribution of newspapers and printed advertising materials and the disruption in their activities resulting mainly from labour disputes, including at Canada Post, the impact of regulations or legislation regarding door-to-door distribution on the printing of paper flyers or printed advertising materials, inflation and recession risks, economic conditions and geopolitical uncertainty, environmental risks as well as adoption of new regulations or amendments and changes to consumption habits, risk of an operational disruption that could be harmful to its ability to meet deadlines, the worldwide outbreak of a disease, a virus or any other contagious disease could have an adverse impact on the Corporation’s operations, the ability to generate organic long-term growth and face competition, a significant increase in the cost of raw materials, the availability of those materials and energy consumption could have an adverse impact on the Corporation’s activities, the ability to complete acquisitions and properly integrate them, cybersecurity, data protection, warehousing and usage, the impact of digital product development and adoption on the demand for printed products other than flyers, the failure of patents, trademarks and confidentiality agreements to protect intellectual property, a difficulty to attract and retain employees in the main operating sectors, the safety and quality of packaging products used in the food industry, bad debts from certain customers, import and export controls, duties, tariffs or taxes, exchange rate fluctuations, increase in market interest rates with respect to our financial instruments as well as availability of capital at a reasonable cost, the legal risks related to its activities and the compliance of its activities with applicable regulations, the impact of major market fluctuations on the solvency of defined benefit pension plans, changes in tax legislation and disputes with tax authorities or amendments to statutory tax rates in force, the impact of impairment tests on the value of assets and a conflict of interest between the controlling shareholder and other shareholders. The main risks, uncertainties and factors that could influence actual results are described in the Management's Discussion and Analysis for the fiscal year ended October 27, 2024 and in the latest Annual Information Form . Unless otherwise indicated by the Corporation, forward-looking statements do not take into account the potential impact of non-recurring or other unusual items, nor of disposals, business combinations, mergers or acquisitions which may be announced or entered into after the date of December 11, 2024. The forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of applicable Canadian securities legislation. The forward-looking statements in this release are based on current expectations and information available as at December 11, 2024. Such forward-looking information may also be found in other documents filed with Canadian securities regulators or in other communications. The Corporation's management disclaims any intention or obligation to update or revise these statements unless otherwise required by the securities authorities. For information:
TOKYO : A rise in shareholder activism in Japan is poised to fuel a new wave of management buyouts by founding families, after the battle for 7-Eleven's parent company prompted a $58 billion takeover offer from the Ito dynasty that built the retail giant. Seven & i Holdings Vice President Junro Ito swooped in last month with an offer to take private the company founded by his late father in what would be the largest ever management buyout (MBO). Ito's "white knight" bid appears designed to keep Seven & i away from Canada's Alimentation Couche-Tard, which announced a takeover proposal in August. The Circle K owner raised its bid for Seven & i by about 22 per cent to $47 billion in October after its initial offer was rejected. The scramble for Seven & i gives a taste of how deals are likely to develop in the years to come, industry experts say, as changes in Japan Inc's corporate governance standards make delisting an increasingly compelling option. A few years ago, companies could ignore unsolicited offers because they were protected by cross shareholdings - the practice of holding stakes in business partners to cement relationships. But those holdings are now being sold off under a government push for better governance. Companies have also been told they should give serious consideration to credible buyout offers. "Managers can no longer ignore shareholders as they could in the past. Cross shareholdings are being unwound all the time," said Travis Lundy of Quiddity Advisors who publishes on the Smartkarma platform. "MBOs are going to be more common," Lundy said, adding the government's guidelines on giving consideration to buyout offers were "a game changer". ALL IN THE FAMILY Last year, Japanese deals where management took stakes, including MBOs, totalled $7.1 billion, the most in at least 36 years, LSEG data showed. The value has fallen from that peak this year, but remains at $1.7 billion. Among recent deals, educational publisher and nursing home operator Benesse Holdings was taken private in an MBO by the founding Fukutake family and Swedish private equity firm EQT. Drugmaker Taisho Pharmaceutical was bought out by a member of its founding Uehara family. MBOs are becoming an attractive option because the governance overhaul has created bigger burdens for listed firms, while being a public company no longer confers the status it once did, said Ulrike Schaede, a professor of Japanese business at the University of California San Diego. Schaede gives the example of Germany, where MBOs have become a "new defence" against shareholder activism, adding that Japan could start to see a similar trend, especially given private equity's appetite for deals in the country. Japan is hardly the only place where founding families hold stakes and sway after the founder dies - and Seven & i not the only global retailer in that position. The family of Walmart founder Sam Walton holds 45.5 per cent of the U.S. retailer, while the largest shareholders of Sweden's H&M are Stefan Persson, son of the founder, and his family. SMALL STAKES But Japan stands out because families are able to wield considerable power despite holding small stakes. Ito-Kogyo, the company tied to Junro Ito that is bidding for Seven & i, holds only about 8.2 per cent of the retailer. Historically, family control of businesses in Japan has been "more persistent than the very low equity ownership by founding families would indicate", researchers from the University of Copenhagen, the University of Alberta School of Business and elsewhere wrote in a 2021 Journal of Financial Economics paper. Some 10 per cent to 30 per cent of listed Japanese companies from the 1960s to 2010 were managed by founding family heirs with "little ownership to report", Morten Bennedsen, Vikas Mehrotra and their co-authors found. They pointed to examples such as the Toyoda family at Toyota Motor Corp, the Suzukis of Suzuki Motor Corp and the Kashios at Casio Computer. Such families were able to retain control via what the researchers called "soft family assets", including their name and reputation. "We certainly expect that the trend is continuing, there is no sign it is changing," Bennedsen told Reuters. One Seven & i investor recalled attending a meeting with company executives including Junro Ito, who sat silent throughout. The extent to which the Ito family wielded influence and power within the company was "something of a mystery", said the investor, who asked not to be named due to company policy. A Seven & i spokesperson declined to comment. At many companies the founder's legacy still looms large. In recent years Seven & i resisted calls from foreign investors to hive off its Ito-Yokado supermarkets' business out of respect for founder Masatoshi Ito's vision, according to veteran Japan retail analyst Michael Causton. "The Ito legacy, as in many Japanese companies with a charismatic founder, is an unwritten red line in the company known to all executives," Causton said, adding that amounted to preserving Seven & i as a conglomerate spanning supermarkets, general merchandise and convenience stores. It remains to be seen whether the Ito family will manage to raise the funds needed for the deal - although it appears that domestic banks are lining up with them. What is clear is that more such deals are likely to happen, something investors welcome. "If the founding families in Japan really want to control and influence their companies, then they shouldn't be listed and instead taken private," the Seven & i investor said.Aston Villa 3 Brentford 1 Aston Villa scored three first-half goals as they recorded their first win since October with a comfortable 3-1 victory over Brentford at Villa Park. Villa’s last win came against Fulham 46 days and eight games ago and they jumped back into the top half of the Premier League table with a scintillating performance in the opening 45 minutes. Unai Emery has never gone nine matches without a win as manager but Brentford never posed a threat to prolong that run as Villa cashed in on a dominant first period with goals from Morgan Rogers, Ollie Watkins and Matty Cash. Brentford have only managed one point away from home all season and Mikkel Damsgaard’s effort after the break proved to be in vain as their miserable run on the road continued. Tyrone Mings made his first start in the Premier League since August 2023 in place of Pau Torres while Leon Bailey was brought into the side following their heavy loss to Chelsea. Bees boss Thomas Frank opted for Vitaly Janelt and Yehor Yarmoliuk over Christian Norgaard and Mathias Jensen. Kevin Schade completed his first career hat-trick at the weekend and showed his confidence six minutes in when his drilled shot was deflected narrowly behind. It took a quarter of an hour but Villa began to knock the ball about and Watkins bent an effort towards goal but Mark Flekken was brought into action for the first time to collect. The tension inside Villa Park alleviated as the hosts took the lead in the 21st minute. Boubacar Kamara’s beautiful turn in the middle of the park set Watkins on his way and he teed up Rogers outside the box who whipped into the far corner in magnificent fashion. The hosts almost added a second straight away as Bailey got in behind the Bees back line but blasted straight at Flekken. Villa had another opportunity to go two in front when Ethan Pinnock dragged Watkins down inside the area and the penalty was eventually given by referee Lewis Smith. And England striker Watkins dusted himself down and snuck his spot-kick into the bottom right corner from 12 yards. Emery’s side showed no mercy and added a third 11 minutes before the break as Lucas Digne’s cross fell to Cash who was waiting at the back post to slam home. Things threatened to get worse for Brentford after the interval when Flekken came to punch Youri Tielemans’ corner away but almost diverted it into his own goal before he got back to push behind for a corner. The Bees got themselves on the scoresheet in the 54th minute as Bryan Mbeumo’s cross was diverted into the path of Damsgaard who cut back and lashed high into the net. Watkins wasted an opportunity to restore Villa’s three-goal advantage as he pounced on a loose pass but aimed straight at Flekken. The visiting goalkeeper was again called on to deny substitute Jhon Duran but Villa settle dfor three goals as they returned to winning ways.NEW YORK (AP) — Major League Baseball switched a pair of series involving the Tampa Bay Rays to the first two months of the season in an attempt to avoid summer rain at open-air Steinbrenner Field, their temporary home following damage to Tropicana Field. Tampa Bay is scheduled to play 19 of its first 22 games at home and 37 of 54 through May 28, then play 64 of its last 108 games on the road. The Rays are home for eight games each in July and August. A series scheduled at the Los Angeles Angels from April 7-9 will instead be played at Tampa, Florida, from April 8-10, MLB said Monday. The second series between the teams will be played at Anaheim, California, from Aug. 4-6 instead of at St. Petersburg, Florida, from Aug. 5-7. Minnesota's first series against the Rays will be played at Steinbrenner Field from May 26-28 and the Twins' second will be at Target Field in Minneapolis from July 4-6. Tampa Bay heads into the All-Star break with a 10-game trip to Minnesota, Detroit and Boston, and has a 12-game trip to the Angels, Seattle, Oakland and San Francisco from Aug. 4-17. Tropicana Field, the Rays’ home since the team started play in 1998, was heavily damaged by Hurricane Milton on Oct. 9 , with most of its fabric roof shredded. The Rays cannot return to the Trop until 2026 at the earliest, if at all. Tampa's average monthly rainfall from 1991 to 2020 was 2.25 inches in April and 2.60 in May , according to the National Weather Service, then rose to 7.37 in June , 7.75 in July and 9.03 in August before falling to 6.09 in September . The Class A Tampa Tarpons, the usual team at Steinbrenner Field, had six home postponements, two cancellations and four suspended games this year from June 21 through their season finale on Sept. 8. The Rays are now scheduled to play their first six games at home against Colorado and Pittsburgh, go to Texas for a three-game series, then return for a 13-game homestand against the Angels, Atlanta, Boston and the New York Yankees. The Tarpons will play their home games on a back field. AP MLB: https://apnews.com/
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