H&R Block Inc. stock underperforms Thursday when compared to competitorsBROOMFIELD, Colo. , Dec. 9, 2024 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2025 ended October 31, 2024 , provided season pass sales results for the 2024/2025 season, updated fiscal 2025 net income attributable to Vail Resorts, Inc. guidance and reaffirmed fiscal 2025 Resort Reported EBITDA guidance, announced capital investment plans for calendar year 2025, declared a dividend payable in January 2025 , and announced first quarter share repurchases. Highlights Commenting on the Company's fiscal 2025 first quarter results, Kirsten Lynch , Chief Executive Officer, said, "Our first fiscal quarter historically operates at a loss, given that our North American and European mountain resorts are generally not open for ski season. The quarter's results were driven by winter operations in Australia and summer activities in North America , including sightseeing, dining, retail, lodging, and administrative expenses. "Resort Reported EBITDA was consistent with the prior year, driven by growth in our North American summer business from increased activities spending and lodging results. This growth was offset by a decline in Resort Reported EBITDA of $9 million compared to the prior year from our Australian resorts due to record low snowfall and lower demand, cost inflation, the inclusion of Crans-Montana, and approximately $2.7 million of one-time costs related to the two-year resource efficiency transformation plan and $0.9 million of acquisition and integration related expenses." Regarding the Company's resource efficiency transformation plan, Lynch said, "Vail Resorts continues to make progress on its two-year resource efficiency transformation plan, which was announced in our September 2024 earnings. The two-year Resource Efficiency Transformation Plan is designed to improve organizational effectiveness and scale for operating leverage as the Company grows globally. Through scaled operations, global shared services, and expanded workforce management, the Company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year. We will provide updates as significant milestones are achieved." Turning to season pass results, Lynch said, "Our season pass sales highlight the compelling value proposition of our pass products and our commitment to continually investing in the guest experience at our resorts. Over the last four years, pass product sales for the 2024/2025 North American ski season have grown 59% in units and 47% in sales dollars. For the upcoming 2024/2025 North American ski season, pass product sales through December 3, 2024 decreased approximately 2% in units and increased approximately 4% in sales dollars as compared to the period in the prior year through December 4, 2023 . This year's results benefited from an 8% price increase, partially offset by unit growth among lower priced Epic Day Pass products. Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying an exchange rate of $0.71 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. For the period between September 21, 2024 and December 3, 2024 , pass product sales trends improved relative to pass product sales through September 20, 2024 , with unit growth of approximately 1% and sales dollars growth of approximately 7% as compared to the period in the prior year from September 23, 2023 through December 4, 2023 , due to expected renewal strength, which we believe reflects delayed decision making. "Our North American pass sales highlight strong loyalty with growth among renewing pass holders across all geographies. For the full selling season, the Company acquired a substantial number of new pass holders, however the absolute number of new guests was smaller compared to the prior year, driving the overall unit decline for the full selling season. New pass holders come from lapsed guests, prior year lift ticket guests, and new guests to our database. The Company achieved growth from lapsed guests, who previously purchased a pass or lift ticket but did not buy a pass or lift ticket in the previous season. The decline in new pass holders compared to the prior year was driven by fewer guests who purchased lift tickets in the past season and from guests who are completely new to our database, which we believe was impacted by last season's challenging weather and industry normalization. Epic Day Pass products achieved unit growth driven by the strength in renewing pass holders. We expect to have approximately 2.3 million guests committed to our 42 North American, Australian, and European resorts in advance of the season in non-refundable advance commitment products this year, which are expected to generate over $975 million of revenue and account for approximately 75% of all skier visits (excluding complimentary visits)." Lynch continued, "Heading into the 2024/2025 ski season, we are encouraged by our strong base of committed guests, providing meaningful stability for our Company. Additionally, early season conditions have allowed us to open some resorts earlier than anticipated, including Whistler Blackcomb, Heavenly, Northstar, Kirkwood, and Stevens Pass. Early season conditions have also enabled our Rockies resorts to open with significantly improved terrain relative to the prior year, including the opening of the legendary back bowls at Vail Mountain opening the earliest since 2018. Our resorts in the East are experiencing typical seasonal variability for this point in the year, with all resorts planned to open ahead of the holidays. We are continuing to hire for the winter season, and are on track with our staffing plans and have achieved a strong return rate of our frontline employees from the prior season. Lodging bookings at our U.S. resorts for the upcoming season are consistent with last year. At Whistler Blackcomb, lodging bookings for the full season are lagging prior year levels, which may reflect delayed decision making following challenging conditions in the prior year." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the first fiscal quarter ended October 31, 2024 , which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Lodging Segment Resort - Combination of Mountain and Lodging Segments Real Estate Segment Total Performance Outlook The Company's Resort Reported EBITDA guidance for the year ending July 31, 2025 is unchanged from the prior guidance provided on September 26, 2024 . The Company is updating its guidance for net income attributable to Vail Resorts, Inc., which it now expects to be between $240 million and $316 million , up from the prior guidance range of $224 million to $300 million . The primary difference is due to a $17 million increase from the gain on sale of real property related to the resolution of the October 2023 Eagle County District Court final ruling and valuation regarding the Town of Vail's condemnation of the Company's East Vail property that was planned for Vail Resorts' incremental affordable workforce housing project, a transaction that has been recorded as Real Estate Reported EBITDA. Additionally, the guidance is updated to include a decrease in expected interest expense of approximately $2 million which assumes that interest rates remain at current levels for the remainder of fiscal 2025. These changes have no impact on expected Resort Reported EBITDA. The Company continues to expect Resort Reported EBITDA for fiscal 2025 to be between $838 million and $894 million , including approximately $27 million of cost efficiencies and an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan, and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. As compared to fiscal 2024, the fiscal 2025 guidance includes the assumed benefit of a return to normal weather conditions after the challenging conditions in fiscal 2024, more than offset by a return to normal operating costs and the impact of the continued industry normalization, impacting demand. Additionally, the guidance reflects the negative impact from the record low snowfall and related shortened season in Australia in the first quarter of fiscal 2025, which negatively impacted demand and resulted in a $9 million decline of Resort Reported EBITDA compared to the prior year period. After considering these items, we expect Resort Reported EBITDA to grow from price increases and ancillary spending, the resource efficiency transformation plan, and the addition of Crans-Montana for the full year. The guidance also assumes (1) a continuation of the current economic environment, (2) normal weather conditions for the 2024/2025 North American and European ski season and the 2025 Australian ski season, and (3) the foreign currency exchange rates as of our original fiscal 2025 guidance issued September 26, 2024 . Foreign currency exchange rates have experienced recent volatility. Relative to the current guidance, if the currency exchange rates as of yesterday, December 8, 2024 of $0.71 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada , $0.64 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia , and $1.14 between the Swiss Franc and U.S. Dollar related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland were to continue for the remainder of the fiscal year, the Company expects this would have an impact on fiscal 2025 guidance of approximately negative $5 million for Resort Reported EBITDA. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2025 for Total Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Total Reported EBITDA guidance. Fiscal 2025 Guidance (In thousands) For the Year Ending July 31, 2025 (6) Low End High End Range Range Net income attributable to Vail Resorts, Inc. $ 240,000 $ 316,000 Net income attributable to noncontrolling interests 23,000 17,000 Net income 263,000 333,000 Provision for income taxes (1) 91,000 115,000 Income before income taxes 354,000 448,000 Depreciation and amortization 295,000 279,000 Interest expense, net 174,000 166,000 Other (2) 21,000 13,000 Total Reported EBITDA $ 844,000 $ 906,000 Mountain Reported EBITDA (3) $ 818,000 $ 872,000 Lodging Reported EBITDA (4) 16,000 26,000 Resort Reported EBITDA (5) 838,000 894,000 Real Estate Reported EBITDA 6,000 12,000 Total Reported EBITDA $ 844,000 $ 906,000 (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards may be in-the-money depending on the current value of the stock price. (2) Our guidance includes certain forward looking known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any forward looking change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. Additionally, our guidance excludes the impact of any future sales or disposals of land or other assets which are contingent upon future approvals or other outcomes. (3) Mountain Reported EBITDA also includes approximately $25 million of stock-based compensation. (4) Lodging Reported EBITDA also includes approximately $4 million of stock-based compensation. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.74 between the Canadian dollar and U.S. dollar, related to the operations of Whistler Blackcomb in Canada; an exchange rate of $0.67 between the Australian dollar and U.S. dollar, related to the operations of our Australian ski areas; and an exchange rate of $1.18 between the Swiss franc and U.S. dollar, related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland. Liquidity and Return of Capital As of October 31, 2024 , the Company's total liquidity as measured by total cash plus revolver availability was approximately $1,024 million . This includes $404 million of cash on hand, $407 million of U.S. revolver availability under the Vail Holdings Credit Agreement, and $213 million of revolver availability under the Whistler Credit Agreement. As of October 31, 2024 , the Company's Net Debt was 2.8 times its trailing twelve months Total Reported EBITDA. Regarding the return of capital to shareholders, the Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock payable on January 9, 2025 to shareholders of record as of December 26 , 2024. In addition, the Company repurchased approximately 0.1 million shares during the quarter at an average price of approximately $174 for a total of $20 million . The Company has 1.6 million shares remaining under its authorization for share repurchases. Commenting on capital allocation, Lynch said, "We will continue to be disciplined stewards of our shareholders' capital, prioritizing investments in our guest and employee experience, high-return capital projects, strategic acquisition opportunities, and returning capital to our shareholders. The Company has a strong balance sheet and remains focused on returning capital to shareholders while always prioritizing the long-term value of our shares." Capital Investments Vail Resorts is committed to enhancing the guest experience and supporting the Company's growth strategies through significant capital investments. For calendar year 2025, the Company plans to invest approximately $198 million to $203 million in core capital, before $45 million of growth capital investments at its European resorts, including $41 million at Andermatt-Sedrun and $4 million at Crans-Montana, and $6 million of real estate related capital projects to complete multi-year transformational investments at the key base area portals of Breckenridge Peak 8 and Keystone River Run, and planning investments to support the development of the West Lionshead area into a fourth base village at Vail Mountain. Including European growth capital investments, and real estate related capital, the Company plans to invest approximately $249 million to $254 million in calendar year 2025. Projects in the calendar year 2025 capital plan described herein remain subject to approvals. In calendar year 2025, the Company will embark on two multi-year transformational investment plans at Park City Mountain and Vail Mountain. In addition to embarking on two multi-year transformational investment plans, the Company is planning significant investments across the guest experience in calendar year 2025, including: In addition to the investments planned for calendar year 2025, the Company is completing significant investments that will enhance the guest experience for the upcoming 2024/2025 North American and European ski season. As previously announced, the Company expects its capital plan for calendar year 2024 to be approximately $189 million to $194 million , excluding $13 million of incremental capital investments in premium fleet and fulfillment infrastructure to support the official launch of My Epic Gear for the 2024/2025 winter season at 12 destination and regional resorts across North America , $7 million of growth capital investments at Andermatt-Sedrun, $2 million of maintenance and $2 million of integration investments at Crans-Montana, and $3 million of reimbursable capital. Including these one-time investments, the Company's total capital plan for calendar year 2024 is now expected to be approximately $216 million to $221 million . Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 579-2543 (U.S. and Canada ) or +1 (785) 424-1789 (international). The conference ID is MTNQ125. A replay of the conference call will be available two hours following the conclusion of the conference call through December 16, 2024 , at 11:59 p.m. eastern time . To access the replay, dial (800) 753-9146 (U.S. and Canada ) or +1 (402) 220-2705 (international). The conference call will also be archived at www.vailresorts.com . About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge , Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America ; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland ; and Perisher, Hotham, and Falls Creek in Australia . We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America . Learn more about our company at www.VailResorts.com , or discover our resorts and pass options at www.EpicPass.com . Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; our expectations regarding our resource efficiency transformation plan; and the payment of dividends. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe , or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , which was filed on September 26, 2024 . All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures. Vail Resorts, Inc. Consolidated Condensed Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended October 31, 2024 2023 Net revenue: Mountain and Lodging services and other $ 187,050 $ 182,834 Mountain and Lodging retail and dining 73,162 71,442 Resort net revenue 260,212 254,276 Real Estate 63 4,289 Total net revenue 260,275 258,565 Segment operating expense: Mountain and Lodging operating expense 266,264 255,576 Mountain and Lodging retail and dining cost of products sold 28,947 31,295 General and administrative 106,857 108,025 Resort operating expense 402,068 394,896 Real Estate operating expense 1,491 5,181 Total segment operating expense 403,559 400,077 Other operating (expense) income: Depreciation and amortization (71,633) (66,728) Gain on sale of real property 16,506 6,285 Change in estimated fair value of contingent consideration (2,079) (3,057) Loss on disposal of fixed assets and other, net (1,529) (2,043) Loss from operations (202,019) (207,055) Mountain equity investment income, net 2,151The cryptocurrency market is experiencing notable shifts, with Tron (TRX) witnessing a surge in trading volume as investors look for alternatives to meme coin-heavy ecosystems like Solana (SOL). While Tron continues to benefit from its established infrastructure, many buyers are also turning to new and innovative projects. Among them, Lightchain AI (LCAI) , a token in its presale phase priced at $0.0041, is quickly gaining traction for its unique combination of artificial intelligence (AI) and blockchain technology. Tron capitalizes on shifting investor sentiment Tron has long been known for its aim at making a free internet. It gives quick deals͏ and cheap costs. Its charm has risen in the past weeks as buyers shift away from Solana, saying there are problems with network stops and many meme coin plans that have not done well. With a strong and flexible setup, Tron is ready to take advantage of this change in mood. The platform's skill to handle many transactions has drawn DeFi users, NFT fans and now investors looking for more steady options to meme-based systems like Solana. Lightchain AI attracts attention with its innovative presale As investors diversify away from meme coins, Lightchain AI is emerging as a standout choice in the crypto market. Unlike speculative meme coins, Lightchain AI combines blockchain technology with artificial intelligence to address real-world challenges, offering solutions across industries such as finance, healthcare, and logistics. Currently priced at $0.0041 in its presale , Lightchain AI has already raised over $5.7 million, reflecting strong investor confidence in its long-term vision. The platform’s ability to support AI-driven decentralized applications (dApps) and its focus on privacy-preserving computation make it a compelling alternative for investors seeking utility-based projects. Lightchain AI’s roadmap includes strategic partnerships and the development of scalable tools for developers, ensuring its ecosystem continues to grow and deliver value to its stakeholders. These features position it as a token capable of sustained growth, unlike the volatile nature of many meme coins. Solana’s struggle with meme coin dominance shifts focus to utility-driven projects Solana, once hailed as the Ethereum killer, has faced a series of challenges, including network outages and a growing dependence on meme coin activity. While the platform remains a strong contender in the blockchain space, its reliance on speculative projects has made it less attractive to long-term investors. This trend has prompted many traders to seek projects with more tangible use cases. Tokens like Tron and Lightchain AI, which emphasize scalability and innovation, are emerging as preferred options. Lightchain AI , in particular, offers a fresh approach by integrating AI capabilities into blockchain, creating a new frontier for decentralized intelligence and capturing the attention of both seasoned investors and early adopters. https://lightchain.ai https://lightchain.ai/lightchain-whitepaper.pdf https://x.com/LightchainAI https://t.me/LightchainProtocol Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
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WASHINGTON — Mayor Richard J. Daley played a key role in the 1976 election of President Jimmy Carter, who died Sunday at the age of 100. During the Democratic primary season, Daley was instrumental in landing the nomination for Carter. The Georgia governor would go on to win the 1976 presidential contest, though in November, he didn’t carry Illinois. “His political ties here were pretty strong,” William Daley, the son of the late mayor, told the Sun-Times. The powerful Chicago mayor took a chance on Carter, running in 1976 as an outsider. When Carter “started to win all the primaries,” showing his potential to clinch the nomination, William Daley said his father blocked a “movement by the so-called old-liners, institutional Democrats” who were trying to stop Carter and entice former Vice President Hubert Humphrey into the primary. “And my dad ... said, ‘No, nobody should challenge him. He’s winning with the voters, and he should be the nominee of the party,’” he said. WTTW’s John Callaway interviewed Carter in 2006 about his memories of coming to Chicago, Daley and the 1976 primary. “I came here as an unknown governor from Georgia,” Carter said, and went to see Daley “just to pay my respects, and he took a liking to me for some reason.” Carter said he would “spend some time with him on each visit. That was when I had maybe three or four percent in the polls; nobody thought I was gonna win.” Carter said, “Mayor Daley told me that if I carried Ohio” he would deliver Illinois votes for him. “So the night that I carried Ohio, the phone rang, Mayor Daley was on the phone, he said you’ve got 273 votes in the Democratic convention that you didn’t have a few moments ago.” After Carter won the nomination, Daley pushed to turn out Chicago votes for him in November general election. That included doing Carter a favor. A traditional get-out-the-vote giant torchlight parade was typically held the Saturday before the fall election, but in 1976, Daley moved it up, to Sept. 9. That idea was to give Carter a national boost with a tour de force in Chicago. The parade kicked off at Wacker Drive and Michigan Avenue, and the marchers wound their way to Medinah Temple, 600 N. Wabash Ave., the turnout a testimony to Daley’s powerful Democratic machine. Carter waved to the crowds from a convertible, where he sat between Daley and Sen. Adlai Stevenson III, coming to the city after stumping that day in Peoria, Springfield and Evergreen Park. As the presidential nominee, Carter returned to Chicago on Oct. 11, with wife, Rosalynn, and daughter Amy, marching next to Daley at the Columbus Day Parade on State Street. But it was not enough. Though Democratic presidential candidates have won Illinois in every election since 1992, back in 1976, Illinois was still a swing state. Despite losing nationally, Ford and his running mate, Sen. Bob Dole, took Illinois, with 50.1% of the vote to 48.1% for Carter and his vice presidential pick, Walter Mondale. That December, Carter returned to Chicago while president-elect to attend Daley’s funeral at the Nativity of Our Lord Roman Catholic Church. “He came to my dad’s funeral in December of ’76, and a month later, he was inaugurated and invited the four of us — my three brothers and I — to come to the inauguration,” William Daley said. “And it was really nice of him” reaching out to a family still in mourning. “But we went. He gave us great seats, and it was really nice of him.” Carter’s 1980 campaign: Byrne’s knifing Chicago is also the place where Carter, running for a second term, was double-crossed by Mayor Jane Byrne, in one of the most famous knifings in modern Chicago political history. Carter was in Chicago for a fundraiser at McCormick Place. Sen. Ted Kennedy was poised to challenge Carter in the Democratic primary. At the fundraiser, Byrne told the crowd that she would endorse Carter if the election were held that night, a message she also sent privately. Except the election was not held that night. Within weeks, Byrne did a U-turn, endorsing Kennedy. As the Sun-Times’ Basil Talbott reported at the time, “the mayor denied she was changing her mind about Carter, although on two recent occasions she said she would back him for reelection. “I told the president I could support him, until I thought he could not win,” Byrne said. Byrne didn’t have enough juice to defeat Carter, who was running in the March 1980 Illinois primary with the backing of the Daley clan. In the Illinois primary, Carter, with 65% bested Kennedy, at 30%. Byrne went on in the general election campaign to appear with Carter, the 39th president, at a Daley Center rally on Oct. 6, 1980. While Carter won Illinois in 1976, he lost the state in 1980. In November, Republican Ronald Reagan, born in Tampico, Ill., beat Carter 49.6% to 41.7% Reagan won the general election, becoming the 40th president. Carter visited Chicago in his post presidential years. He came for speeches, panels and to promote one of his signature initiatives, Habitat for Humanity, which builds homes for low-income people. He also came to see his grandchildren. His son Jack lived in Evanston for a time, moving to the area in 1981. According to records in the Jimmy Carter Presidential Library and Museum, Jack Carter worked at the Chicago Board of Trade, Citibank and Tabor Commodities, a subsidiary of Archer-Daniels-Midland, now known as ADM. Chicago fundraiser hosted by future Commerce secretary When Carter, then governor of Georgia, was running for president the first time, he came to Chicago for a fundraiser. One of the event sponsors was Philip Klutznick, a real estate developer, prominent Democrat and international Jewish leader. Klutznick couldn’t attend the event, so he asked his daughter, Bettylu Saltzman, to stand in for him. “And I was introduced in a rather inartful way to Gov. Carter,” Saltzman told the Sun-Times. She was referred to only as “Phil Klutznick’s daughter,” as if she were not a person with her own identity. Carter picked up on the slight. “And Gov. Carter, in a way so that other people could hear it said, ‘I bet you have a name,’” said Saltzman, recalling how his compassionate reply reflected the enduring decency Carter became known for. Klutznick would go on to serve as Carter’s commerce secretary from Jan. 9, 1980, to Jan. 19, 1981, with his daughter, Bettylu Saltzman, a major Democratic activist, instrumental in the later rise of Barack Obama. At Klutznick’s swearing-in — his oath was administered by Abner Mikva, the former Chicago congressman who was then an appeals court judge — Carter made a joke about Klutznick’s rag-to-riches story with a reference to Chicago’s Water Tower Place. Klutznick developed the mixed-use skyscraper, and he lived on the 72nd floor. Carter said, “He knows business from top to bottom, or I should say bottom to top. He was born in a room above his family’s store. He now lives in a penthouse — above the headquarters for a giant business complex.”VICTORIA — British Columbia Premier David Eby says his fellow premiers and the federal government have hatched a game plan to fight U.S. tariffs, with conservative premiers lobbying Republican counterparts, left-leaning provincial leaders courting the Democrats, and Ottawa focusing on president-elect Donald Trump. The premiers and Prime Minister Justin Trudeau talked about using their political diversity and connections to thwart the prospect of Trump's proposed 25 per cent tariffs on imports from Canada and Mexico, Eby said Thursday in a year-end interview. He said it was discussed that conservative premiers Danielle Smith in Alberta, Doug Ford in Ontario and Nova Scotia's Tim Houston are well-placed to lobby Republican governors and business leaders. Eby said as a New Democrat he will likely have more in common with Democrat governors and business leaders from the West Coast states. "I can easily have conversations with governors and businesses down the West Coast of the U.S., where we have close relationships and our politics are very similar," he said. "Premier Smith can have conversations with Republican governors. That would be more challenging for me, and (she) would have more connections potentially with the Trump administration than an NDP administration in B.C. would." He said a meeting last week between the premiers and Trudeau discussed Canada's diversity of representation, and how it could bring leverage and advantages in tariff talks. "It's interesting, there was a lot of talk about what unity means in terms of Canada's response to the tariffs," he said. "There's obviously a diversity of views around the Council of the Federation table of all the premiers. Certainly, mine is not the same as Premier Smith's or Premier Ford's or Premier Houston's, and that diversity of views is actually potentially a significant strength for us as we enter into these discussions." Eby also said he was prepared to appear on American's right-leaning Fox News TV network, as did premiers Ford and Smith. "Anything that I can do to support the national effort to protect the families in Canada from the impact of tariffs and also families in the U.S. from those unjustified tariffs," he said. "Absolutely, if I thought it was helpful." This report by The Canadian Press was first published Dec. 5, 2024. Dirk Meissner, The Canadian Press
Former US President Jimmy Carter dies at 100, Atlanta Journal-Constitution reports