first_img“We are proud to support the Cottar’s 1920 Camp in its endeavour of protecting wildlife and nature by delivering clean, sustainable and innovative renewable energy solutions as a sustainable power source, giving way to a reduced use and new deployment of diesel-based generators,” states Michael Georg , senior project manager of The meeco Group. Finance and Policy Read moreKenGen invites bids for the rehabilitation of power lines With sun2rope the impact to the natural environment is minimised by the fact that heavy steel structures are replaced with rope and sturdy wood. It additionally contributes to achieving other targets, such as reducing the logistic costs by making use of the locally available wood from the controlled planting areas against steel structures with long shipping delays. This way the CO2 footprint of the installation is scaled back dramatically. In a company statement, the Group explained that the eco-friendly system consists of PV modules mounted on tailor-made rope structures, specifically designed for the project. The sun2rope PV energy installation, a first of its kind, is purposed to provide clean energy to the renowned Kenyan eco-retreat Cottar’s 1920 Camp, which is located close to Kenya’s famous national park, the Masai Mara. The multi-award-winning Cottar’s 1920 Camp spreads over an area of 1,500 hectares, with a large concentration of watchable wildlife, and provides ten tents to host nature-loving safari tourist. TAGSInnovationKenyasolar power Previous articleGas and renewables will power Africa’s energy future, but coal still risingNext articleSiemens embarks on energy and infrastructure solutions in Ethiopia Ashley TheronAshley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa. To supply the eco-resort with renewable energy, seven rows of 168 highly efficient polycrystalline PV modules, with a total capacity of 54kWp have already been installed. Once the site is completely finalised and commissioned, the generated energy is intended to charge the batteries of the energy management and storage system sun2safe and inter alia for hot water treatment and for charging the sun2move e-bikes of the safari camp. The modules are mounted on special long-life, exceptionally resistant technical ropes supported by robust wooden poles. These ropes are distinguished by their extremely high breaking strength and very low weight. Thus, the sun2rope solar PV structure is designed to resist wind speeds of up to 36 meters per second. The core of the rope consists of a special UHMWPE (Ultra-High-Molecular-Weight Polyethylene) braid with a coat made of black UV resistant polyester braid. The technical ropes have been developed and engineered in conjunction with Gruschwitz Textilwerke AG, an enterprise from Germany (Baden-Württemberg), that has been engaged in this industry for more than 200 years. Low carbon, solar future could increase jobs in the future – SAPVIA Generation A closer look to the PV solar panels at Cottar’s 1920 Camp in Kenya. Credit: The meeco Group Sign up for the ESI Africa newsletter The last steps to the finalisation of the sun2rope solar PV structure. Credit: The meeco Group RELATED ARTICLESMORE FROM AUTHOR Being one of the eleven Global Ecosphere Retreats worldwide, the Cottar’s 1920 Camp is committed to the protection of nature and wildlife, as well as the preservation of the original culture and the lifestyle of the neighbouring Maasai tribe, by combining cultural responsibility with animal welfare, sustainable management and soft tourism. BRICS AFD and Eskom commit to a competitive electricity sector A Swiss-based clean energy provider, The meeco Group, has completed the structural installation of its first solar photovoltaic (PV) project using an innovative solar power mounting structure, the sun2rope. UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more

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first_imgBeaudette Family(MALIBU, Calif.) —  A man mysteriously shot dead while camping with his two young daughters was a “selfless” and “generous” father who was married to his high school sweetheart, his family said.Tristan Beaudette, 35, was gunned down at about 4:45 a.m. Friday at Malibu Creek State Park in Southern California, the Los Angeles County Sheriff’s Office and Department Medical Examiner said. No one else was injured, the sheriff’s office said.Beaudette died in front of his 2-year-old and 4-year-old daughters inside their tent, according to ABC Los Angeles station KABC-TV. His wife wasn’t on the camping trip because she was studying for an exam, KABC reported.Now, his family is “heartbroken.”“The grief and trauma this loss has caused our close-knit family is indescribable,” Beaudette’s family said in a statement.“Tristan was universally admired by his friends and family. A scientist who loved cooking and microbrews, Tristan was happiest out in nature, and spent every chance he could hiking, biking, snowboarding, and camping with his family,” the family said.“Married to his high-school sweetheart, Tristan was a supportive and generous husband, a full partner in every sense of the word,” the family said. “His selfless devotion to his children came naturally, and Tristan found true joy in all aspects of being a father.”But the beloved father’s death remains a mystery.No arrests have been made and there’s no known motive, the sheriff’s office said. Anyone with information is asked to call the Los Angeles County Sheriff’s Department’s Homicide Bureau at (323) 890-5500.“We are grateful for the overwhelming outpouring of support we have received in the wake of our loss,” Beaudette’s family added. “Knowing that Tristan’s deep kindness touched so many people is a comfort during this extremely difficult time. Tristan is and always will be a part of our family.”Copyright © 2018, ABC Radio. All rights reserved.last_img read more

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first_imgiStock/Thinkstock(DALLAS) — A man has been arrested after he intentionally rammed a truck into Dallas FOX 4 news station’s building multiple times Wednesday morning, according to the TV station. Police do not believe he was directly targeting the media. The man’s motive remains unclear.No one inside the building was hurt. The suspect, 34-year-old Michael Fry, was arrested and charged with second-degree felony criminal mischief. Fry has a history of prior arrests in neighboring Denton County, officials confirmed to ABC News.After crashing the truck into the studio, Dallas Police say Fry placed a bag from his vehicle by the building. The bag and the suspect’s truck were cleared by the bomb squad after no suspicious devices were found.Fry was found in an agitated state, rambling nonsense when deputies arrived at the studio near 6:00 a.m., said Dallas Police Senior Corporal Debra Webb.A slew of papers had been scattered across the parking lot with remarks about an officer-involved shooting in Denton County.Among the papers were printouts from a 2012 article by ABC affiliate WFAA-TV regarding an officer-involved shooting in Denton County, when the driver, Roberto Carlos Hernandez, was accused of ramming a sheriff deputy’s cruiser. Hernandez was fatally shot by the deputy, and Fry was a passenger in the vehicle, WFAA-TV reports.Fry covered the 2012 article copy with expressions including “witchery,” “conspiracies,” and “we need the calvary”.He was transported to Parkland Hospital for evaluation, where he was released and then moved to a Dallas County jail. It’s unclear if Fry has hired a lawyer as of yet to represent him.Cameras captured the moment authorities walked Fry into the jail, and he cried to reporters, “Please don’t let anything happen to me… Please don’t let them punish me for trying to stay alive. They committed a high treason against me.”Fry pleaded to reporters, saying he’s not smart or powerful enough and is mentally challenged.“They were trying to kill me, and they missed and they killed Roberto Carlos Hernandez. Ever since I’ve been running for my life and I don’t know what to do,” he said, before adding, “I just wanted to get the media to do their job.”WFAA-TV stands by the facts in the original article covering the October 2012 shooting, according to a statement released by WFAA President and General Manager Brad Ramsey.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

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first_imgPosting Job TitleAssistant Professor, Railroad ElectronicsDepartmentAcademic AffairsPosition TypeFull-time TemporaryNumber of openings1Job SummaryThe Assistant Professor, Railroad Electronics will demonstrateinterpersonal and communication skills that result in clearcommunication of Electronics Technology subject matter to thestudents; use a variety of proven methods of engagement andassessment that facilitate student mastery of the content; providestudents timely, constructive, encouraging, and correctivefeedback; select and develop instructional materials; plan andorganize instruction to enhance student learning; createappropriate curriculum items that encourage student learning, thedevelopment of communication skills, and higher-order thinking; useavailable instructional technology, as appropriate; evaluatestudent learning by creating and applying course competencies andaccurately evaluating student progress; apply continuousimprovement methods to improve teaching effectiveness through theapplication of appropriate teaching and learning strategies;utilize assessment processes to evaluate and document studentlearning to inform instructional delivery and curriculum content;be accessible to students through e-mail, wireless/cellulartechnology, or scheduled office hours including arranging, whennecessary, additional time for appointments; maintain confidentialand accurate records of students’ academic standing; promptlyprovide final grades, attendance, and other information as requiredby administration; work effectively with internal and externalprogram stakeholders (such as college staff, industry advisoryboard, K-12 partners) to accomplish program goals; attend andparticipate in all required meetings and exercise stewardship inthe use of college facilities and materials.Required QualificationsBachelor’s degree in Electronics Engineering Technology or relatedfield with three years of experience OR Associate’s degree inElectronics Engineering Technology or related field with five yearsof experienceISCET CETa or higher certification (required within six months ofemployment)Written and oral communication skillsPreferred Qualifications1 year or more of college teaching experience teaching electronicstechnology2 or more years experience as an electronic technician performingprototyping, repair, or other related workCurriculum development experience (may include authoring of coursepackages, laboratory manuals, textbooks, and other items)Experience with conducting academic assessment and continuousimprovement processesProficiency with Microsoft Office including Access, Excel, Word,and SharePoint/One DriveProficiency with TCP/IP networking and one or more instrumentationprotocols (Profibus, Modbus, VXI, etc.)RF/wireless Communications as evidenced by FCC First ClassRadiotelephone License or other documentationProficiency in RF communications protocols, instrumentation, andtroubleshootingProficiency in microcomputer and microprocessor systems includingassembly and C++ languagesExperience with implementation of embedded control / DSP /RTOS-based systemsExperience with PC board design using Cadence OrCAD capture andlayout, or equivalent software package Experience with chip-scalesystems implementationDemonstrated excellence in teaching in a variety of modalities(in-person, hybrid/web and online)Intrinsic motivation to complete complex and competing tasks withindeadlinesAbility to interact with all stakeholders (students, faculty,staff) in a consistently positive and professional mannerExpert level ability to in constructing, troubleshooting, andmaintaining electronic systems at both board and componentlevelsExpert level ability in implementing embedded control systems usingmicrocontrollersExpert level ability in configuring and troubleshooting electronicinstrumentation including IP-based devices such as spectrumanalyzers, oscilloscopes, and related equipmentRequired application documentsResumeCover letterUnofficial transcripts (official transcripts will be required uponhire)Current Industry certificationsHours per Week40Work Hours/DaysHours vary depending on department needSalary Grade Level12MBUSalaryLocationOverland Park Main CampusDisclosuresEvery employee of the college is expected to treat all members ofthe college community with dignity and respect demonstratingprofessional, courteous and respectful behavior and engage inconstructive conflict resolution, when needed.In accordance with the college policy, finalists for this positionwill be subject to criminal background investigations. Individualhiring departments at JCCC may elect to administer pre-employmenttests, which are relevant to essential job functions as part of theapplicant selection/hiring process. Many departments require thoseselected for hire to submit a certified transcript for all degreesobtained. For full consideration, applicants are encouraged toapply prior to the review date listed in posting.Johnson County Community College welcomes the application of anyqualified candidate and does not discriminate on the basis of race,color, age, sex, religion, marital status, national origin,disability, veteran’s status, sexual orientation, gender identity,genetic information or other factors which cannot be lawfullyconsidered, to the extent specified by applicable federal and statelaws.If you are an applicant requesting assistance or a reasonableaccommodation in the application process, please contact the Officeof Human Resources at 913-469-3877, or email [email protected] a summary of all disclosures (Background check, Clery Act, ADA,EOE, etc.) refer to the links on our Career page.Advertised: 23 Apr 2021 Central Daylight TimeApplications close: 24 May 2021 Central Daylight Timelast_img read more

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first_imgAlan Victor of the Lansco Corporation and Polo Ralph Lauren store at 867 Madison Avenue (Credit: NYREJ)Alan Victor, a veteran retail broker who helped pioneer the concept of the pricey luxury retail flagship store, died on Friday at the age of 80. The cause was complications of Parkinson’s disease.A representative for the Lansco Corporation, the boutique retail brokerage Victor co-founded in the 1960s, confirmed his death.Victor is credited as one of the leading dealmakers of Manhattan’s pricey high street retail, which during his decades-long career developed into some of the most expensive real estate in the world.In 1986, he negotiated a deal for his client Polo Ralph Lauren to open its first flagship store in Manhattan at the ornate French Renaissance Revival-style Rhinelander Mansion on Madison Avenue.It was considered pivotal in the evolution of retail, from a place to shop to one where companies would pull out all the stops to showcase their brands.ADVERTISEMENT“He was an icon, one of the first to focus on retail leasing, especially luxury and fashion,” said Robin Abrams, a former partner at Lansco. “And he did flagships before anyone. A great guy.”Victor’s long career also includes deals representing Warner Bros. for its stores on 57th Street at Fifth Avenue and in Times Square, the Niketown deal at the Trump Organization’s 6 East 57th Street and Versace on Fifth Avenue.In 1965, he co-founded the boutique retail brokerage Lansco with partners Jack Walis and Mike Antkies, Howard Dolch and Stuart Lilien.The five brokers started out doing office deals, then in the late 1980s slowly began carving out a niche in retail as values for ground-floor spaces rose and landlords started to pay more attention to the sector.The company employed some top dealmakers in retail in the 2000s, and one of its strengths was said to be a comprehensive internal listings system that kept its brokers on top of the latest properties to hit the market.While larger competitors such as RKF and Winick Realty Group eventually stepped in and became dominant in leasing retail spaces across the city, Lansco remained, and maintained an old-school style of business.Victor retired from the job about three years ago.Contact Rich Bockmann at [email protected] or 908-415-5229 This content is for subscribers only.Subscribe Nowlast_img read more

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first_img Full Name* And in a sluggish real estate market, proptech’s ability to help landlords and developers slash costs has become a big selling point. “Top-line [real estate] revenue has not been going up,” said Ben Friedman, a former trader who partnered with Seligman on BOA Acquisition Corporation to take a proptech company public. “If you think about where you can cut the fat out, a lot of this has to do with technical innovation and using third-party service providers.”For certain companies that are banking almost entirely on future upside rather than past performance, SPACs may be the only short-term route to public capital. That’s because target companies can share projected earnings, not just historical results. View, which has raised $1.8 billion from investors, including over $1.1 billion from SoftBank, was not a traditional IPO candidate, admitted CEO Rao Mulpuri. The San Francisco startup, which holds 1,050 patents, has spent $1 billion on research and development since 2007. Its projected revenue for this year is just $75 million, up from last year’s $31 million.“We don’t have the scale, predictability or profitability to IPO yet, certainly by classic standards,” Mulpuri said. “But we have a demonstrable need for the capital to create further shareholder value.” Latch raised a $100 million Series B in August 2019, and lost an estimated $61 million on an EBITDA basis in 2020.  It is now going public in a $1.56 billion merger with Tishman Speyer. Without a SPAC deal on the table, “there would be no expectation of them going public soon,” said Bradley Tusk, co-founder of Tusk Ventures, which invested in Latch and also has a separate $300 million hospitality-focused SPAC . Tusk said the marriage between a proptech startup and a top owner-operator —  Tishman Speyer controls 78 million square feet of real estate in the U.S. — was part of what investors found appealing. “Some of it is the belief that, ‘Look, what we bring to the table and what they bring to the table is so compelling, we can drive more value,’” said Tusk. Latch has forecast $600 million in revenue by 2024, when it projected it will turn profitable with $3 million in EBITDA. For Porch.com, a Seattle startup that provides software to home-services companies, its SPAC merger wiped out a history of losses and set the stage for massive growth. Porch’s deal with Proptech Acquisitions Corporation, founded by Abu Dhabi Investment Authority alums Tom Hennessy and Joe Beck, gave it $200 million in cash and left it debt-free. Without that lifeline, Porch’s accountants raised “substantial doubt” about its ability to stay in business. “It gives us a significant war chest, which we can use to play offense,” Porch CEO Matt Ehrlichman told TRD in October. “The whole point in taking the company public through a SPAC versus going through a traditional IPO a year later is to be able to capitalize the business as well as we are, faster, so that we can go and be aggressive and take advantage of the M&A opportunities.”Porch projects $120 million in revenue this year, up from $77.6 million last year. It claims it became profitable in June 2020 with $7 million in EBITDA.By contrast, Latch CEO Luke Schoenfelder said the startup had “a lot of capital around the table” when it received more than a dozen SPAC offers over the past year. Its options included raising more private capital or going public in a traditional IPO down the road. “We have a fiduciary responsibility [to investors] to make sure we deliver the best possible outcome,” Schoenfelder said. “The ability to say, ‘Let’s put nearly  $500 million on the balance sheet to develop new products,’ it’s pretty exciting.” But though Schoenfelder may have to answer to Latch’s investors, the SPAC’s sponsor will not. SPAC sponsors do not have a fiduciary duty to the investors in the acquired company. Relevant experience Real estate players have slid comfortably into the role of SPAC sponsor. It takes a similar skill set to property investing: Raise capital, find an asset to buy, come to terms and, hopefully, turn a profit. “My strongest skill set has always been around acquisitions,” said Ophir Sternberg of Lionheart Capital, the developer behind the Ritz-Carlton in Miami Beach. “My business involves buying the right type of property at the right price and structuring the deal well.”(Sternberg’s OPES Acquisition Corporation struck a deal to take the burger chain BurgerFi public in July 2020. A second, $200 million blank-check firm is focused on proptech.) Tishman Speyer has backed a dozen proptech startups, including VTS, Openspace and Agora. In January, a Tishman-backed SPAC struck a deal to merge with Latch. Less than 24 hours later, the landlord launched a second blank-check firm, targeting a $250 million investment in a proptech firm. “Our customers are demanding more and better. They want new technologies to make their lives easier and seamless,” Rob Speyer, Tishman’s chief executive, said in a January interview with TRD. Speyer joined Latch’s board to help the company expand into Europe and the commercial office market. In the Tishman-Latch deal, the landlord will receive a 4 percent stake worth about $60 million, according to Latch’s investor presentation. According to Evan Hudson, a real estate partner at Stroock, SPACs are also becoming an investment vehicle for many of his clients, including REITs, that previously invested in blind pools. “Having assets under management is the lifeblood of real estate,” he said. “And capital is what drives returns.”Perfectly legalTo some, the sheer volume of new SPACs is a sign of a bubble.With so much capital being raised, there are bound to be blow-ups. A growing number of skeptics worry the number of blank-check firms outweighs targets — which could drive up valuations as sponsors compete for deals. “The getting is so good right now that people are jumping in with reckless abandon,” said Dave Eisenberg, a co-founder at Zigg Capital who sold his 3D mapping startup, Floored, to CBRE in 2017. “The dynamic now is there’s a lot of people who see a lot of easy money to be made.” Others point to what they believe is a fundamental misalignment between SPACs and the target companies.SPAC investors, who usually have no interest in the underlying business, often cash out before the merger is complete, or right after. “We don’t want to own the risk of the operating company,” said Patrick Galley, CEO of RiverNorth Capital Management. By the same token, he said, “If you’re a fundamental investor, why would you want to own a portfolio of cash when you don’t know what it’s going to be?” In recent months, high trading volume sounded alarm bells for veteran investors. “It’s a perfectly legal regulatory arbitrage,” Joseph Grundfest, a former SEC commissioner, told the Wall Street Journal in November. New research also paints a sobering picture of SPAC deals a few months after the giddy headlines have died down. SPAC mergers completed between January 2019 and June 2020 lost, on average, 12 percent of their value within six months, according to researchers at Stanford and New York University. By comparison, the Nasdaq rose 30 percent during the same time. Proptech-focused SPACs also show mixed results. As of Feb. 5, Opendoor’s stock had slipped 9.8 percent from Dec. 21, 2020, when it went public. Porch Group was up 33 percent from its IPO on Christmas Eve. And United Wholesale Mortgage, which completed a SPAC deal in January, was down 11.9 percent. To some, those slides warrant greater scrutiny of company valuations. As with venture capital, investors are underwriting a company’s growth prospects. “You’re turning the pixie dust back into gold,” said Tusk. Sometimes, there’s a good reason. “A regular IPO is all about history, you know, protecting the investor,” Lutnick said on CNBC after his CF Acquisitions struck a deal to merge with View. “A company like View needs to talk about its projections … Its margins are 60 percent on this glass.” Among proptech deals, valuation has been all over the place. View was valued at $1.6 billion, or 21.3 times its projected revenue of $75 million this year, while Opendoor was valued at $4.7 billion, on par with its 2019 revenue. Latch’s $1.56 billion deal was 9.3 times its estimated booked revenue of $167 million in 2020, but 86.7 times its estimated net revenue of $18 million. Schoenfelder drew a parallel to real estate, where developers pencil out projects based on projections. “How many buildings are built on historical financials?” he said. Latch’s customers operate in the same way, placing orders far in advance in multiyear projects. “When you build infrastructure, you have to plan ahead,” he said. But Fifth Wall’s Wallace said valuations are also a function of the market opportunity that exists today. Real estate represents 13 percent of the U.S. economy, but the sector spends just half of 1 percent on IT, he said. For that reason, category-leading companies can command a valuation that reflects big growth potential. “The commensurate opportunities are so vast that it is possible to pursue valuations that might optically seem very high,” he said, “and have them be totally justified.” He predicted a two-track fate for SPACs. “It’s kind of a flat-footed resolution of what’s happening in the SPAC market to say it’s a bubble,” he said. “I don’t think it’s a bubble for the highest-quality sponsors and businesses.”Even Palihapitiya, who’s become the unofficial face of SPACs and described Opendoor as his “next 10x idea,” cautioned prudence. “SPACs may be easy to raise … but they are hard to execute and success isn’t guaranteed,” he tweeted Feb. 3. “Good luck to all the players.Contact E.B. Solomont Message* Email Address* From left: Fifth Wall’s Brendan Wallace, Tishman Speyer’s Rob Speyer, Social Capital’s Chamath Palihapitiya, Cantor Fitzgerald’s Howard Lutnick, Pershing Square Capital’s Bill Ackman and Opendoor’s Eric WuWhen Fifth Wall Ventures decided to jump into the SPAC market in January, it targeted a raise of $250 million to take a startup public. Within three weeks, it upsized the offering — twice — before the new blank-check firm closed its $345 million IPO on Feb. 9. “There was a lot of public demand,” a euphoric-looking Brendan Wallace, the venture firm’s co-founder, said during a video call after the IPO. Wallace said his “lightbulb moment” was in September when he watched one of his portfolio companies, instant-homebuying startup Opendoor, strike a $4.7 billion deal to go public with a blank-check firm backed by Chamath Palihapitiya. The iBuyer went public on Dec. 21 and now has a market cap of $18.2 billion. “It was, ‘Wow, this is a validation of this instrument and what’s possible here,’” Wallace said. ADVERTISEMENTIt’s been about a year since the frenzy around special purpose acquisition companies began, kicked off by big Wall Street names such as Bill Ackman and Palihapitiya. Real estate players and investors have embraced the trend with gusto, taking proptech companies public and raising large sums for future deals. More than a dozen proptech-focused SPACs, backed by names such as Tishman Speyer, CBRE, Cantor Fitzgerald and the Chera family’s Crown Acquisitions, are hunting for deals. This month, real estate investor Scott Seligman, a minority owner of the San Francisco Giants, teamed up with Foxhall Partners’ Brian Friedman and Citigroup alum Ben Friedman to raise a $175 million SPAC. Scott Rechler’s RXR Realty filed papers to raise $250 million for a proptech-focused SPAC. And some, like Zillow co-founder Spencer Rascoff, are on their second SPAC. “It’s not really a fad,” Cantor CEO Howard Lutnick told CNBC in December. “It is a really good way for fast-growing, high-tech companies to go public.”So far, SPACs have taken startups like Opendoor and home-services firmPorch.com public. View (smart glass), Latch (smart locks), Matterport (3D software for virtual property tours) and Hippo (insurance) are slated to go next. Even WeWork — yes, WeWork — may be waiting in the wings. Last year, 248 blank-check firms went public, raising $83 billion — a 510 percent jump from 2019. (As of Feb. 10, 134 SPACs had gone public so far this year, raising $40.4 billion, according to SPACInsider.) SPACs allow many parties to wet their beaks. Sponsors typically get 20 percent of the company in exchange for putting up a fraction of the funding. Investors get all their money back if no deal is made within two years, or if they opt out. For startups strapped for cash and time, it’s a fast, guaranteed IPO that doesn’t pose the risk of leaving money on the table. But that quick-and-dirty route to going public has fewer regulatory safeguards than a traditional IPO. Instead of having a quiet period, companies are free to drum up publicity and use projected financials to tell a much rosier story, which can be risky for investors. Latch, for example, projected $167 million in booked revenue in 2020, which represents signed contracts with clients. Its earned revenue for the year was an estimated $18 million. SPAC deals are also negotiated behind closed doors, without the chance for public scrutiny of the company’s inner workings. The SPAC sponsor gets a payday as long as it acquires a target company, even if that company flounders after the merger, a quirk that Dealbook columnist Andrew Ross Sorkin described as “pay before performance.” Robert Davis, chief investment officer at Round Table Wealth Management, said the guaranteed payday upon acquisition is a “good incentive to get something done.”But, he added, “a skeptic would say they’re getting compensated to close a deal, whatever the deal is.” A better IPOPopular in the 1980s, SPACs gained a reputation for being risky bets and disappeared during the financial crisis. Their resurgence now is part of a growing acknowledgment that the traditional IPO is broken. This past fall, Rascoff said Zillow’s 2011 IPO, when the company’s stock price shot up 200 percent within minutes, was a “facepalm moment.” “I was bothered by that spike for years to come,” he tweeted in October, the same month he launched a $350 million blank-check firm of his own. (Too big a stock “pop” essentially means bankers underpriced the deal.) This month, Rascoff backed a second SPAC that’s seeking $250 million. Wallace pointed to the growing number of high-quality real estate targets as a sign of the evolution of proptech. “Many real estate tech businesses have matured,” he said. “They’re at this inflection point, evaluating whether to stay private or go public.”Read more“Blank-check” companies make a comeback in real estateSpencer Rascoff goes for SPAC trifectaWeWork in talks to go public via SPAClast_img read more

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first_imgAs two advanced, democratic economies and societies, Canada and the EU enjoy a robust relationship. Our common values and objectives bind us together. Now is the time to unlock the full potential of closer trade and investment. Working together, we will forge a new and historic partnership which will serve as the ‘gold standard’ for the rest of the world. The successful negotiation of an ambitious Comprehensive and Economic Trade Agreement (CETA) with the European Union is a priority for both Canadian and European leaders (“Resistance grows to EU-Canada trade deal”, 11-17 October). Such an agreement would encourage growth, serving to create more opportunities, jobs and prosperity through increased trade and investment. It would also send a strong signal to the world that Canada and the EU reject economic protectionism and are committed to opening markets.The CETA will offer advantages to businesses in both Canada and the EU. A joint study carried out by Canada and the EU in 2008 found that an ambitious trade and economic agreement could increase bilateral trade by 20%, which would obviously have a positive impact on employment on both sides of the Atlantic. A Canada-EU agreement would provide European companies with a gateway into the large north American free-trade area, while increasing Canadian opportunities in the European single market.The negotiating agenda is broad and ambitious. It covers most aspects of our economic relationship, including trade in goods, services, investment and government procurement. The negotiations with the EU are the most transparent and collaborative trade negotiations that Canada has ever conducted. From the beginning, provinces and territories have been active participants, and continue to be supportive of the negotiations. Federal, provincial and territorial governments have all recognised the benefits an ambitious agreement would bring to every region of Canada, stating in a joint communiqué that “there is no more important Canadian trade negotiating priority today than the Canada-European Union Comprehensive Economic and Trade Agreement”.last_img read more

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first_imgNew York City’s Bowery Ballroom has revealed a brilliant lineup for a tribute to singer-songwriter Neil Young this September 13 and 14. Cabin Down Below Band will serve as the event’s house band and will be joined by the likes of Norah Jones, Ryan Adams, Patrick Carney of The Black Keys, and Charles Bradley, just to name a few. You can find a complete list of the lineup below.Tickets go on sale this Friday, August 28 and can be purchased here.[H/T Jambase]last_img

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first_imgPresident Barack Obama announced March 2 that he has nominated Ashton B. Carter to serve as undersecretary of defense for acquisition, technology and logistics. Carter’s nomination was announced in a press release along with several other key nominees.“I am grateful that these distinguished men and women have chosen to put their unique talents and expertise to work serving our country,” Obama said. “Together, I am confident that we will be able to tackle the challenges of our time as we work to right our economy and enact policies that give America’s working families the relief they need.”Carter is the Ford Foundation Professor of Science and International Affairs and chair of the international and global affairs faculty at Harvard Kennedy School (HKS). He came to Harvard in 1984 and has been affiliated with the Kennedy School’s Belfer Center for Science and International Affairs since 1988. He also serves as co-director of the Preventive Defense Project with former Secretary of Defense William J. Perry.last_img read more

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first_imgWhen summer gathers up her robes of glory, And like a dream of beauty glides away. — Sarah Helen WhitmanI found this, as the opening for the month of September, in an old book from 1968, A Garden Book for Houston, by members of the River Oaks Garden Club. I am positive that Sarah did not live in Southeast Texas, where summer gathers up her piercing rays of sun and glides away laughing, planning her tortuous return next year.I picked up this book at The Treasure House, a resale shop in downtown Beaumont, while digging through a stack of old books. I recommend picking up old books written about what grows well in Southeast Texas. We decided to plant several types of green beans and cream beans for canning. We also planted heirloom onion seeds that will be ready by mid-year. I have never tried to start onions from seed but it should be fun nurturing these for the next 10 months.If you want to have a fall garden, go ahead and prepare your plot and have it ready by Oct. 3. This is the day of the Master Gardeners plant sale, where you will have a wide selection of plants and herbs to put in that garden. Put it on your calendar and be ready for the date.While you are at the sale, talk to all the Master Gardeners who can give you tips on how to get the most out of your gardening experience.  If you do not plan a garden, fall is still the best time to  enhance your landscape with bushes and trees.My wife is getting into herbs and fall is a great time to put in herbs. With  the heat stress of summer over, these plants thrive. We will be planting rosemary cuttings, thyme, parsley, cilantro and mint next weekend in raised beds out in the front of our house. The book I have is almost 50 years old but 98 per cent of the information is still very true. It describes plants that grew well here before the major onset of chemicals and is a major inspiration while I read it.Another book I love reading, The Vegetable Book, A Texan’s Guide to Gardening  by Sam Cotner, is 30 years old and another great book about growing things all over Texas. I go to it often for answers. I do not believe it is still in print but you can find copies online.Spring rains and family commitments foiled my attempt at a spring garden but I was blessed with some extra time and favorable weather lately and was able to get my fall garden in last weekend.center_img Get a piece of paper and make a plan for what you would like to harvest fresh on Thanksgiving or Christmas Day. Then head on out to the plant sale on Saturday, Oct. 3, from 8 a.m. to 1 p.m. at the JCMG Test Garden at Jack Brooks Regional Airport.(If you don’t have your garden plot ready yet, at 9:30 a.m. plan on participating in a hands-on demo of “How to Make a Lasagna Garden.” At home, follow what you learn here and you will have a garden plot ready to plant almost instantly.)You can reach Jefferson County Master Gardener Tim Schreck at [email protected]  or call Texas A&M AgriLife Extension Service  at 409-835-8461.last_img read more

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