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Mayor Eric Adams and Deputy Mayor for Public Safety Chauncey Parker announced a pilot program Monday that strategically targets high-crime streets in a multi-agency effort to address longstanding needs and problems. The program, dubbed Every Block Counts, was launched in October with a specific focus on residential blocks within two NYPD precincts known for having the highest number of violent crimes, in particular shootings, over the past five years. The pilot program targets five blocks within the 46th Precinct in the Bronx— which covers the neighborhoods of Fordham, University Heights, Mount Hope and Morris Heights—and several streets in Brooklyn’s 73rd precinct, which covers Brownsville and Ocean Hill. The blocks in the Bronx include Morris Avenue, Elm Place and Walton Avenue; meanwhile the program covers Bristol Street, Christopher Avenue, Dumont Avenue, Lott Avenue and Mother Gaston Boulevard in Brooklyn. The program coordinates efforts among various city agencies, including police, fire, parks, sanitation, transportation, buildings, health and more. In the announcement, Adams pointed to results achieved thus far, including zero shootings in the two targeted areas over the past 56 days, as well as the completion of 111 out of 146 quality-of-life problems identified by the communities. The 46th precinct has seen a rise in shootings and murders since last year, according to NYPD CompStat data. In 2023, there were 42 shooting incidents, 53 shooting victims and 13 murders in the 46th precinct. So far this year, there have been 49 shooting incidents, 64 shooting victims and 25 murders. ‘Remarkable’ progress The mayor spoke from Bean Morris Community Garden near Morris Avenue and Grand Concourse — named for resident Carrie Cuthbertson’s son Devon, nicknamed Bean, who was shot and killed nearby in 2019 at age 24. Cuthbertson, who said she has long been active in her community, has now become a “Block CEO” with Every Block Counts, acting as a liaison between the community and city agencies. As part of the program, she has been working with fellow residents on a list of neighborhood safety and quality of life concerns. Recent progress under the program has been tangible to her and her neighbors, she said. “For the first time in years, we saw rapid improvement. The transformation was nothing short of remarkable,” said Cuthbertson. A Halloween event with treats for hundreds of neighborhood kids, funded by donations, was a recent example of how the community has united and improved, she said. “ Our streets are now clean, graffiti is gone, trash is picked up, and the area feels brighter and more inviting. Most importantly, we feel safer.” Council Member Pierina Sanchez, whose district office is nearby, said she has experienced ducking bullets in the area while pregnant with her first child. Just 4% of the city’s blocks are the site of almost all shootings, she said, and the program acknowledges that “ the 4-6 [Precinct] is different than the rest of the City of New York.” While Sanchez said she does not always agree with Adams, she applauded the pilot program, calling it an example of “partnership despite differences and progress despite obstacles.” Assembly Member Yudelka Tapia recalled the alarming shooting deaths in September of three people within blocks of each other in the Burnside area. Since the launch of Every Block Counts, she said she has not received any emergency calls from the precinct captain. “This fight is for us to have, and let’s do it, let’s win it,” she said. The mayor said given these early positive results across the 10 focus blocks of the pilot, he plans to expand Every Block Counts to more locations. Adams, who has expressed frustration at the lingering perception of a rise in crime in the city, said the program is part of the comprehensive effort to address both crime and quality-of-life concerns, and his office issued a new report on various initiatives aimed at decreasing crime throughout the city. Reach Emily Swanson at eswanson@schnepsmedia.com or (646) 717-0015. For more coverage, follow us on Twitter, Facebook and Instagram @bronxtimesPlayers must be assigned female at birth or have transitioned to female before going through male puberty to compete in LPGA tournaments or the eight USGA championships for females under new gender policies published Wednesday. The policies, which begin in 2025, follow more than a year of study involving medicine, science, sport physiology and gender policy law. The updated policies would rule out eligibility for Hailey Davidson, who missed qualifying for the U.S. Women's Open this year by one shot and came up short in LPGA Q-school. Davidson, who turned 32 on Tuesday, began hormone treatments when she was in her early 20s in 2015 and in 2021 underwent gender-affirming surgery, which was required under the LPGA's previous gender policy. She had won this year on a Florida mini-tour called NXXT Golf until the circuit announced in March that players had to be assigned female at birth. “Can't say I didn't see this coming,” Davidson wrote Wednesday on an Instagram story. “Banned from the Epson and the LPGA. All the silence and people wanting to stay ‘neutral’ thanks for absolutely nothing. This happened because of all your silence.” LPGA commissioner Mollie Marcoux Samaan, who is resigning in January, said the new gender policy "is reflective of an extensive, science-based and inclusive approach." By making it to the second stage of Q-school, Davidson would have had very limited status on the Epson Tour, the pathway to the LPGA. The LPGA and USGA say their policies were geared toward being inclusive of gender identities and expression while striving for equity in competition. The LPGA said its working group of experts advised that the effects of male puberty allowed for competitive advantages in golf compared with players who had not gone through puberty. “Our policy is reflective of an extensive, science-based and inclusive approach,” said LPGA Commissioner Mollie Marcoux Samaan, who announced Monday that she is resigning in January. "The policy represents our continued commitment to ensuring that all feel welcome within our organization, while preserving the fairness and competitive equity of our elite competitions.” Mike Whan, the former LPGA commissioner and now CEO of the USGA, said it developed the updated policy independently and later discovered it was similar to those used by swimming, track and field, and other sports. United States Golf Association CEO Mike Whan said the new policy will prevent anyone from having "a competitive advantage based on their gender." “It starts with competitive fairness as the North star,” Whan said in a telephone interview. “We tried not to get into politics, or state by state or any of that stuff. We just simply said, ‘Where would somebody — at least medically today — where do we believe somebody would have a competitive advantage in the field?’ And we needed to draw a line. “We needed to be able to walk into any women's event and say with confidence that nobody here has a competitive advantage based on their gender. And this policy delivers that.” The “Competitive Fairness Gender Policy” for the USGA takes effect for the 2025 championship season that starts with the U.S. Women's Amateur Four-Ball on May 10-14. Qualifying began late this year, though there were no transgender players who took part. “Will that change in the years to come as medicine changes? Probably,” Whan said. “But I think today this stacks up.” The LPGA “Gender Policy for Competition Eligibility” would apply to the LPGA Tour, Epson Tour, Ladies European Tour and qualifying for the tours. Players assigned male at birth must prove they have not experienced any part of puberty beyond the first stage or after age 12, whichever comes first, and then meet limitation standards for testosterone levels. The LPGA begins its 75th season on Jan. 30 with the Tournament of Champions in Orlando, Florida. Buffalo Bills quarterback Josh Allen, foreground right, dives toward the end zone to score past San Francisco 49ers defensive end Robert Beal Jr. (51) and linebacker Dee Winters during the second half of an NFL football game in Orchard Park, N.Y., Sunday, Dec. 1, 2024. (AP Photo/Adrian Kraus) Houston Rockets guard Jalen Green goes up for a dunk during the second half of an Emirates NBA cup basketball game against the Minnesota Timberwolves, Tuesday, Nov. 26, 2024, in Minneapolis. (AP Photo/Abbie Parr) South Carolina guard Maddy McDaniel (1) drives to the basket against UCLA forward Janiah Barker (0) and center Lauren Betts (51) during the first half of an NCAA college basketball game, Sunday, Nov. 24, 2024, in Los Angeles. (AP Photo/Eric Thayer) Mari Fukada of Japan falls as she competes in the women's Snowboard Big Air qualifying round during the FIS Snowboard & Freeski World Cup 2024 at the Shougang Park in Beijing, Saturday, Nov. 30, 2024. (AP Photo/Andy Wong) LSU punter Peyton Todd (38) kneels in prayer before an NCAA college football game against Oklahoma in Baton Rouge, La., Saturday, Nov. 30, 2024. LSU won 37-17. (AP Photo/Gerald Herbert) South Africa's captain Temba Bavuma misses a catch during the fourth day of the first Test cricket match between South Africa and Sri Lanka, at Kingsmead stadium in Durban, South Africa, Saturday, Nov. 30, 2024. (AP Photo/Themba Hadebe) Philadelphia Eagles running back Saquon Barkley, left, is hit by Baltimore Ravens cornerback Marlon Humphrey, center, as Eagles wide receiver Parris Campbell (80) looks on during a touchdown run by Barkley in the second half of an NFL football game, Sunday, Dec. 1, 2024, in Baltimore. (AP Photo/Stephanie Scarbrough) Los Angeles Kings left wing Warren Foegele, left, trips San Jose Sharks center Macklin Celebrini, center, during the third period of an NHL hockey game Monday, Nov. 25, 2024, in San Jose, Calif. (AP Photo/Godofredo A. Vásquez) Olympiacos' Francisco Ortega, right, challenges for the ball with FCSB's David Miculescu during the Europa League league phase soccer match between FCSB and Olympiacos at the National Arena stadium, in Bucharest, Romania, Thursday, Nov. 28, 2024. (AP Photo/Andreea Alexandru) Brazil's Botafogo soccer fans react during the Copa Libertadores title match against Atletico Mineiro in Argentina, during a watch party at Nilton Santos Stadium, in Rio de Janeiro, Saturday, Nov. 30, 2024. (AP Photo/Bruna Prado) Seattle Kraken fans react after a goal by center Matty Beniers against the San Jose Sharks was disallowed due to goaltender interference during the third period of an NHL hockey game Saturday, Nov. 30, 2024, in Seattle. The Sharks won 4-2. (AP Photo/Lindsey Wasson) New York Islanders left wing Anders Lee (27), center, fight for the puck with Boston Bruins defensemen Parker Wotherspoon (29), left, and Brandon Carlo (25), right during the second period of an NHL hockey game, Wednesday, Nov. 27, 2024, in Elmont, N.Y. (AP Photo/Julia Demaree Nikhinson) Jiyai Shin of Korea watches her shot on the 10th hole during the final round of the Australian Open golf championship at the Kingston Heath Golf Club in Melbourne, Australia, Sunday, Dec. 1, 2024. (AP Photo/Asanka Brendon Ratnayake) Mathilde Gremaud of Switzerland competes in the women's Freeski Big Air qualifying round during the FIS Snowboard & Freeski World Cup 2024 at the Shougang Park in Beijing, Friday, Nov. 29, 2024. (AP Photo/Andy Wong) Lara Gut-Behrami, of Switzerland, competes during a women's World Cup giant slalom skiing race, Saturday, Nov. 30, 2024, in Killington, Vt. (AP Photo/Robert F. Bukaty) New York Islanders goaltender Ilya Sorokin cools off during first period of an NHL hockey game against the Boston Bruins, Wednesday, Nov. 27, 2024, in Elmont, N.Y. (AP Photo/Julia Demaree Nikhinson) Brazil's Amanda Gutierres, second right, is congratulated by teammate Yasmin, right, after scoring her team's first goal during a soccer international between Brazil and Australia in Brisbane, Australia, Thursday, Nov. 28, 2024. (AP Photo/Pat Hoelscher) Las Vegas Raiders tight end Brock Bowers (89) tries to leap over Kansas City Chiefs cornerback Joshua Williams (2) during the first half of an NFL football game in Kansas City, Mo., Friday, Nov. 29, 2024. (AP Photo/Ed Zurga) Luiz Henrique of Brazil's Botafogo, right. is fouled by goalkeeper Everson of Brazil's Atletico Mineiro inside the penalty area during a Copa Libertadores final soccer match at Monumental stadium in Buenos Aires, Argentina, Saturday, Nov. 30, 2024. (AP Photo/Natacha Pisarenko) England's Alessia Russo, left, and United States' Naomi Girma challenge for the ball during the International friendly women soccer match between England and United States at Wembley stadium in London, Saturday, Nov. 30, 2024. (AP Photo/Kirsty Wigglesworth) Gold medalists Team Netherlands competes in the Team Sprint Women race of the ISU World Cup Speed Skating Beijing 2024 held at the National Speed Skating Oval in Beijing, Sunday, Dec. 1, 2024. (AP Photo/Ng Han Guan) Minnesota Vikings running back Aaron Jones (33) reaches for an incomplete pass ahead of Arizona Cardinals linebacker Mack Wilson Sr. (2) during the second half of an NFL football game Sunday, Dec. 1, 2024, in Minneapolis. (AP Photo/Abbie Parr) Melanie Meillard, center, of Switzerland, competes during the second run in a women's World Cup slalom skiing race, Sunday, Dec. 1, 2024, in Killington, Vt. (AP Photo/Robert F. Bukaty) Sent weekly directly to your inbox!
OTTAWA — First Nations leaders are split over next steps after a landmark $47.8-billion child welfare reform deal with Canada was struck down, prompting differing legal opinions from both sides. The Assembly of First Nations and a board member of the First Nations Child and Family Caring Society have received competing legal opinions on potential ways forward. Ontario Regional Chief Abram Benedict says the chiefs he represents are still hoping the agreement that chiefs outside the province voted down two months ago is not moot. Chiefs in Ontario are interveners in the Canadian Human Rights Tribunal case that led to its realization. He added there are also concerns that some of the elements in the new negotiation mandate outlined by chiefs in an October assembly go beyond the current governance structure of the Assembly of First Nations. "There will have to be action by the Assembly of First Nations in the very near future to advance these positions, but you also need willing partners," Benedict said. "We're still considering what our options are." Those options are also being debated in legal reviews commissioned by the Assembly of First Nations and a board member of the First Nations Child and Family Caring Society, which are both parties to the human rights case, along with Nishnawbe Aski Nation. Khelsilem, a chairperson from the Squamish Nation who penned a resolution that defeated the deal in October, critiqued the stance of Ontario First Nations by saying they negotiated a "bad agreement" for First Nations outside the province and now that chiefs want to go back to the table for a better deal, they want to split from the process entirely. "It potentially undermines the collective unity of First Nations to achieve something that is going to benefit all of us," he said. The $47.8-billion agreement was struck in July after decades of advocacy and litigation from First Nations and experts, seeking to redress discrimination against First Nations children who were torn from their families and placed in foster care. The Canadian Human Rights Tribunal said Canada’s underfunding was discriminatory because it meant kids living on reserve were given fewer services than those living off reserves, and tasked Canada with reaching an agreement with First Nations to reform the system. The agreement was meant to cover 10 years of funding for First Nations to take control of their own child welfare services from the federal government. Chiefs and service providers critiqued the deal for months, saying it didn’t go far enough to ensure an end to the discrimination. They have also blasted the federal government for what they say is its failure to consult with First Nations in negotiations, and for the exclusion of the First Nations Child and Family Caring Society, which helped launched the initial human rights complaint. In October at a special chiefs assembly in Calgary, the deal was struck down through two resolutions. The Assembly of First Nations sought a legal review of those resolutions by Fasken Martineau DuMoulin LLP — a firm where the former national chief of the organization, Perry Bellegarde, works as a special adviser. In the legal review from Fasken, it appears as though the assembly asked for direction on how to get "rid" of two resolutions used to vote down the deal, with an employee of the firm saying they can review the resolutions together if they want them both gone, or they can "leave room for compromise" with one of the resolutions. In a statement, the Assembly of First Nations said the review was conducted to assess the legal, technical and operational aspects of the resolutions to ensure their "effective implementation." "The opinions formed by external counsel are their own and do not reflect the views or positions of the AFN," said Andrew Bisson, the chief executive officer, who added it's not unusual for the organization to seek such reviews. Bisson did not address the language used by a Fasken employee to "get rid" of resolutions, but said "the legal and technical reviews were conducted in good faith, not to undermine the chiefs' direction. The chiefs have provided clear direction, and the AFN is committed to following that direction." The legal reviews from Fasken, dated Nov. 15, argue that the October resolutions on child welfare require a significant review of who voted for them, along with changes to the organization's charter should they be implemented. Resolution 60 called for a rejection of the final settlement agreement, and for the establishment of a Children's Chiefs Commission that will be representative of all regions and negotiate long-term reforms. It also called for the AFN's executive committee to "unconditionally include" the Caring Society in negotiations. Fasken said that commission is contrary to the AFN's charter, and the law, because the AFN's executive committee doesn't have the power to create one, and that the executive committee "alone" has the authority to execute mandates on behalf of the assembly. It adds there are no accountability measures for the new negotiation body, and that it will represent regions that are not participants in the AFN. Resolution 61, which built upon resolution 60, is similarly against the charter for the same reasons, the review says. As such, it says, the resolutions can't be implemented. The firm also wrote that there were alleged conflicts of interest during the October vote, saying "numerous proxies were also employees, shareholders, directors, agents or otherwise had a vested interest" in the First Nations child and family service agencies whose interests were the subject of the resolutions. Chief Joe Miskokomon of Chippewas of the Thames First Nation in southwestern Ontario called that "political deception." In response to that review, a board member of the Caring Society, which has been a vocal critic of the July deal, sought their own. The review penned by Aird Berlis for Mary Teegee and dated Dec. 2 stated it was "inappropriate for the AFN to seek, and not disclose, legal opinions which are then cited to attempt to second-guess decisions already made by the First Nations in Assembly." It also states that while the AFN's vice-president of strategic policy and integration, Amber Potts, raised concerns with the movers and seconders of the resolutions, the entirety of the legal opinion the assembly sought was not shared with them. Teegee's review challenges that of the AFN's by saying the resolutions are consistent with the AFN's charter, and that nothing restricts First Nations in assembly from expressing their sovereign will by delegating authority to another entity. "AFN's role and purpose at all times is to effect the sovereign will of First Nations, however it is expressed, on 'any matter' that they see fit," the review from Aird Berlis reads. "It is too late to attempt to question the resolutions. They are now final." This report by The Canadian Press was first published Dec. 9, 2024. Alessia Passafiume, The Canadian Press
Former Trump attorney lashes out at 'lawfare' after court appearance in Wisconsin fake electors case
VERMILLION, S.D. (AP) — Aidan Bouman threw a 25-yard touchdown pass to Javion Phelps with 12 seconds left and South Dakota defeated FCS top-ranked North Dakota State 29-28 on Saturday to claim a share of its first Missouri Valley Football Conference championship. The Coyotes (9-2, 7-1) trailed 28-17 when Bouman threw deep to Jack Martens for a 40-yard touchdown with 3:22 remaining. They got the ball back with 1:16 left and six plays later Bouman was sacked. The Coyotes quickly lined up and Bouman found Phelps alone 2 yards shy of the end zone along the left sideline and he easily scored. South Dakota won its first game against the Bison in Vermillion since a four-overtime thriller in 2002. The Bison had won the last five meetings in the DakotaDome. The Coyotes took a 14-0 lead on two Travis Theis rushing touchdowns but the Bison (10-2, 7-1) tied the game with two scores in the final 2:26 of the first half, a 23-yard pass from Cam Miller to Braylon Henderson and a 3-yard TD run by Miller. Miller scored from 2 yards out late in the third quarter and CharMar Brown completed a 20-play, 99-yard drive that took nearly 11 minutes with a 1-yard score for a 28-17 Bison lead with just over four minutes to go. Bouman was 18-of-30 for 271 yards and two touchdowns. Miller was 9-of-21 passing with one touchdown and he rushed for 82 yards and another score. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football . Sign up for the AP’s college football newsletter: https://apnews.com/cfbtop25 Get any of our free daily email newsletters — news headlines, opinion, e-edition, obituaries and more.A day after Jagjit Singh Dallewal was discharged from the Ludhiana hospital, the convener of Samyukta Kisan Morcha (Non-Political) sat on fast-unto-death at the Khanauri border point to press for the acceptance of farmers’ demands. Dallewal replaced Sukhjit Singh Hardojhande, who on Saturday ended his fast-unto-death, which he began on November 26. The decision to end Sukhjit’s fast was taken during a meeting of farmer leaders of Samyukta Kisan Union (Non-Political) and Kisan Mazdoor Morcha (KMM) at the border point. Hours before beginning his fast-unto-death on November 26, Dallewal was whisked away from the Khanauri border by police and taken to a hospital in Ludhiana. He was discharged on Friday evening. “Since Dallewal has come back to the protest site and is continuing his fast-unto-death therefore there is no point for Sukhjit Singh to continue his. He had to start his fast-unto-death because Dallewal was detained by Punjab Police,” said Sarwan Singh Pandher, KMM convener. The protesting farm unions on Saturday called off their scheduled gherao of Punjab CM Bhagwant Mann’s residence in Sangrur on December 1. Farmer leader Kaka Singh Kotra said that the gherao of CM’s residence was announced to press for the release of Dallewal from the hospital. “Gherao of CM’s residence on December 1 was only for the release of Dallewal. Now that he has reached the Khanauri border and is continuing his fast-unto-death therefore, we are calling off our protest outside CM’s residence in Sangrur,” Kotra said. Farmer unions said that they will now focus on their march to Delhi on December 6. Meanwhile, the KMM held a meeting at the Shambhu border point in connection with their march to Delhi on December 6. KMM leader Pandher asked farmers to reach the Shambhu border point in large numbers. The farmers have been camping at Shambhu and Khanauri border points between Punjab and Haryana since February 13 after their march to Delhi was stopped by security forces. The protesters have accused the Centre of not taking steps to address their demands, claiming that it has not held any talks with them on their issues since February 18. Besides a legal guarantee for MSP, the farmers are demanding implementation of the Swaminathan Commission’s recommendations, pension for farmers and farm labourers, farm debt waiver, reinstatement of the Land Acquisition Act, 2013, and compensation to the families of farmers who died during a previous agitation in 2020-21. AAP govt failed to give MSP on paddy: Jakhar Chandigarh: The Punjab state BJP chief Sunil Jakhar on Saturday asked the farmers to raise their voices against the Punjab government’s ‘failure’ to procure paddy on MSP. In a post on X, Jakhar stated that once again state’s farmers are at a crossroads due to the inefficient administration of the Aam Aadmi Party-led Punjab government. He slammed Punjab government for its failure in awarding MSP on paddy despite the centre government having timely given ₹ 44,000 crore for the same. He added that the farmers suffered a cut from ₹ 200 to ₹ 350 per quintal. Calling upon the opposition Congress to raise its voice, Jakhar said that despite such mayhem of non-procurement and non-lifting in the markets across Punjab, Congress distanced itself from the issue. “Instead of acting like a responsible opposition, Congress chose to maintain a stoic silence over the issue. We need someone to raise voice for the underprivileged sections of society and now is the time for farmers to raise their pitch,” he said.
The advertising titans, behind campaigns like ‘Got Milk’ and ‘Priceless’, aim to create the world’s largest ad agency. Omnicom is buying Interpublic Group in a stock-for-stock deal that will create the largest ad agency in the world with combined annual revenue of almost $26bn. The deal, announced on Monday, could attract regulatory scrutiny as it seeks to merge the world’s third-largest ad buyer, Omnicom, with the fourth-largest – Interpublic. The names may be unfamiliar to many Americans, but some of their marketing campaigns are iconic. Those include “Got Milk” for the California Milk Processor Board, “Priceless” for Mastercard, “Because I’m Worth It” for L’Oreal and “Think Different” for Apple. The combined company will be worth more than $30bn. “Through this combination, we are poised to accelerate innovation and harness the significant opportunities created by new technologies in this era of exponential change, said John Wren, chairman and CEO of Omnicom. “Now is the perfect time to bring together our technologies, capabilities, talent and geographic footprints to bring clients superior, data-driven outcomes.” The company will keep the Omnicom name and trade under the “OMC” ticker symbol on the New York Stock Exchange. Competing for ad dollars Tech giants such as Alphabet-owned Google and Amazon.com have in recent years attracted marketing dollars away from traditional agencies by offering both advertising tools and marketplaces to buy and sell them. Soaring use of AI tools that allow businesses to create ads cheaper and faster has squeezed traditional agencies, forcing them to scramble to develop similar in-house tools to retain clients. “This move allows us to take control of our own future rather than wait for technology to impact it in ways that you can’t anticipate today,” Wren said. The size of and reach of the new marketing giant will have multiple advantages, including the use of new technologies like artificial intelligence. “We estimate both companies have an approximately 50/50 split between advertising and marketing services, setting up a strong position not only in creative and media, but also across areas like specialty healthcare, experiential, and PR,” wrote JPMorgan analyst David Karnovsky. “For the industry, some amount of consolidation is a positive following a couple years of divergent growth among agencies and ahead of an investment cycle for Gen-AI,” Karnovsky added. Shareholders of the Interpublic Group of Companies Inc will receive 0.344 Omnicom shares for each share of Interpublic common stock that they own. Omnicom shareholders will own 60.6 percent of the combined company and Interpublic shareholders will own 39.4 percent after the transaction is complete. Wren will be chairman and CEO of Omnicom, while Phil Angelastro will continue as executive vice president and chief financial officer. Interpublic CEO Philippe Krakowsky and COO Daryl Simm will be co-presidents and chief operating officers at Omnicom. Three current members of Interpublic’s board, including Krakowsky, will join the board of Omnicom. The deal is expected to have annual cost savings of $750m and is expected to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders. Regulatory roadblocks had forced Omnicom and France’s Publicis Groupe SA to call off their $35bn merger in 2013. Shares of Interpublic jumped 10 percent Monday, while Omnicom’s stock fell more than 6 percent.Crown Royal Paints Nashville Purple During "The 58th Annual CMA Awards" Week from launch of Crown Royal 31 Year Old in Partnership with Daniel Diamond to Generous Moment on CMA Awards Stage NASHVILLE, Tenn. , Nov. 21, 2024 /PRNewswire/ -- In its seventh year as the exclusive whisky partner of the CMA Awards, Crown Royal spread generosity through Music City across the week, culminating in a special announcement on Country Music's Biggest Night. Woven into the fabric of country music, Crown Royal brings people together through shared values and experiences that define the genre. This year, the brand raised the bar and 'painted the town purple' like never before with a packed presence in Nashville . To kick off the week, the award-winning whisky brand partnered with Daniel Musto of fashion brand DanielxDiamond to debut Crown Royal Aged 31 Years. Musto shared a collection of iconic looks from country music's biggest stars along with his tips for luxury western styling. The duo adorned guests with their very own custom DanielxDiamond Crown Royal jacket, a perfect accessory for CMA Awards week. Side-by-side with this rare whisky, the two icons cheers to craftsmanship, excellence and country music. Continuing the star-studded week of celebrations, Crown Royal teamed up with New Artist of the Year nominee Nate Smith and veteran-turned-country-artist Scotty Hasting to raise a glass to Crown Royal partner, CreatiVets, a non-profit organization helping veterans navigate life after service through music. Last night, Crown Royal and Smith hit the stage at "The 58th Annual CMA Awards," highlighting the story of veteran Scotty Hasting's life-changing journey from Purple Heart recipient to one of country music's own. During an intimate conversation, Hasting shared how the support of CreatiVets led to him writing his first debut single and making his first appearance on the Grand Ole Opry stage. He also recounted moments from a recent performance in Nashville . "I am so proud to be able to use music to reach people and help Veterans like myself, after returning home," said Hasting. "It's an honor to support CreatiVets and Crown Royal in their mission to continue to help people through music, too." Amid roaring applause and a standing ovation, Smith announced a $50,000 donation to CreatiVets on behalf of Crown Royal. Since the start of their partnership, Crown Royal has spearheaded efforts to raise over $370,000 in support for this cause.* "I'm humbled to put a spotlight on an organization as incredible as CreatiVets on country music's biggest stage," said Smith. "Crown Royal has been my go-to in the songwriting room and while on tour, and I've long admired their commitment to supporting veterans. Learning about CreatiVets' mission and Scotty's personal story is something I'll never forget." Crown Royal first partnered with CreatiVets in 2022, and through Crown Royal's continued commitment and support over the past two years, CreatiVets has significantly fueled their mission, nearly doubling their annual number of veterans served in 2024. The brand's support has also helped enable a thirty-five percent increase in songwriting programs, while also facilitating the launch of new chapters and community initiatives.* "As we returned to Music City for the seventh year, it was important for us to extend our presence and plant our purple flag in the heart of country music. We are proud to have celebrated the country music community from our new partnership with DanielxDiamond for Crown Royal Aged 31 to celebrating iconic artists at the 72nd Annual BMI Country Awards," said Jesse Damashek , Senior Vice President, North American Whiskeys at Diageo. "And of course, with generosity at the core of our brand we closed out the week with a memorable giveback moment. What an honor to have teamed up with Nate Smith and Scotty Hasting , to support our partner CreatiVets and highlight the incredible work they are doing for our veterans." CMA Awards viewers at home had the opportunity to join in on the generosity by scanning a QR code that appeared onscreen or by visiting https://stage.crownroyal.com/cmacreativets . Each visit to the website (including by QR code scan) on or before November 21 will result in the brand donating an additional $1 . These donations will be in addition to the $50,000 Crown Royal will contribute to CreatiVets mission.*** Crown Royal also sponsored the 72nd annual BMI Country Awards, the Creative Artist Agency watch party, and continued celebrations as a sponsor of William Morris Endeavor's official CMA Awards after party. Country stars and industry alike gathered to toast with specialty cocktails crafted exclusively for the occasions, rounding out a week of unforgettable moments. Crown Royal reminds everyone 21+ that living generously is not about what you have, but about what you give. And, most importantly, to always drink responsibly. About Crown Royal Crown Royal Canadian Whisky is the number-one selling Canadian whisky brand in the world and has a tradition as long and distinctive as its taste. Specially blended to commemorate a grand tour of Canada made by King George VI and Queen Elizabeth of Great Britain in 1939, Crown Royal's smooth, elegant flavor and gift-worthy presentation reflect its regal origins – it is considered the epitome of Canadian whisky. For more information, visit crownroyal.com . Crown Royal encourages all consumers to please enjoy responsibly. About Diageo North America Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker , Crown Royal, Bulleit and Buchanan's whiskies, Smirnoff, Cîroc and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray and Guinness. Diageo is listed on both the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange (LSE: DGE) and their products are sold in more than 180 countries around the world. For more information about Diageo, their people, brands, and performance, visit diageo.com . Visit Diageo's global responsible drinking resource, DRINKiQ.com , for information, initiatives, and ways to share best practice. Follow on Twitter and Instagram for news and information about Diageo North America: @Diageo_NA. About the CMA Awards The first "CMA Awards Banquet and Show" was held in 1967. The following year, the CMA Awards was broadcast for the first time – making it the longest running, annual music awards program on network television. The CMA Awards have aired on ABC since 2006. ABC is the network home of the CMA Awards and CMA's other two television properties, "CMA Fest" and "CMA Country Christmas." About Nate Smith Bursting onto the scene a few short years ago, country vocal powerhouse Nate Smith has accumulated over 2 billion career streams, scored three multi-week No. 1 records ("Whiskey on You," "World on Fire" and "Bulletproof"), garnered multiple gold and platinum records, sold-out shows across the US and received numerous nominations for best new artist from the CMA Awards, ACM Awards, CMT Awards, iHeart Radio Awards and so many more. Most recently, Smith received the award for ACM New Male Artist of the Year, Billboard's Rookie of the Year and Amazon's Breakthrough Country Artist for 2024. Smith's sophomore album, California Gold, was just released and debuted Top 15 on Billboard's Country Albums Chart. About Scotty Hasting In April of 2011, former Army Infantryman with the 1st Infantry Division 4th Squadron 4th Cavalry Scotty Hasting was left fighting for his life, flying out of Afghanistan on a medivac after being shot ten times. Narrowly escaping death, Hasting is now on a mission to help anyone struggling through his music. Despite only first picking up a guitar in 2020, Hasting signed with Black River Entertainment in 2023 and has already opened for incredible artists, including Dave Grohl , Tanya Tucker , Jelly Roll, Lee Brice , Chris Janson , and more. Hasting recently partnered with Operation Democracy and represented the U.S. with multiple performances in Normandy , France , during a week-long celebration commemorating the 80th anniversary of D-Day . Hasting released his debut EP, I'm America (5/3), stepped into the coveted Circle for his Grand Ole Opry debut (7/28), and shared the notable release, his own special version of "Til The Last Shot's Fired" with Lee Brice and Dolly Parton (10/15) . About CreatiVets CreatiVets' is a 501(c)(3) non-profit organization whose mission is to provide wounded veterans struggling with post-traumatic stress and traumatic brain injury with opportunities to use art, music, and creative writing to heal their unseen wounds of war. Their goal is to empower veterans with tools they can use for the rest of their lives and enable them to see their own capacity for success in an arena outside the battlefield. Learn more at creativets.org . Media Contacts: DIAGEO jazmine.settles@diageo.com TAYLOR crownroyal@taylorstrategy.com For Scotty Hasting : Dawn Delvo | Black River Entertainment ddelvo@blackriverent.com **Source: CreatiVets Financial Statements ***Diageo Americas, Inc. to donate up to $1,000,000 to national and local charities between 9/7/2024 & 6/30/2025, including this initiative in support of CreatiVets. Donation made via the Crown Royal Generosity Fund, a donor-advised fund administered by Fairfield County's Community Foundation, organized under IRS Section 501c(3). No minimum donation. Dispersal of funds subject to approval of Fairfield County's Community Foundation. View original content to download multimedia: https://www.prnewswire.com/news-releases/crown-royal-joins-forces-with-nate-smith-and-scotty-hasting-to-support-veterans-as-the-award-winning-whisky-donates-50-000-to-creativets-on-country-musics-biggest-night-302313677.html SOURCE Crown Royal
Quest Partners LLC raised its stake in Halozyme Therapeutics, Inc. ( NASDAQ:HALO – Free Report ) by 1,386.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,793 shares of the biopharmaceutical company’s stock after purchasing an additional 9,134 shares during the quarter. Quest Partners LLC’s holdings in Halozyme Therapeutics were worth $561,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Halozyme Therapeutics during the second quarter valued at approximately $33,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Halozyme Therapeutics during the second quarter worth $49,000. Toth Financial Advisory Corp purchased a new position in shares of Halozyme Therapeutics in the third quarter valued at $57,000. Finally, FSC Wealth Advisors LLC acquired a new stake in Halozyme Therapeutics during the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 97.79% of the company’s stock. Insiders Place Their Bets In related news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $59.09, for a total value of $590,900.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $39,988,802.96. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website . In the last quarter, insiders sold 60,000 shares of company stock worth $3,425,000. 2.40% of the stock is owned by company insiders. Wall Street Analyst Weigh In Check Out Our Latest Research Report on HALO Halozyme Therapeutics Stock Performance Shares of NASDAQ HALO opened at $49.00 on Friday. Halozyme Therapeutics, Inc. has a 12-month low of $33.15 and a 12-month high of $65.53. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The company has a market cap of $6.23 billion, a PE ratio of 16.23, a P/E/G ratio of 0.41 and a beta of 1.29. The stock has a 50 day simple moving average of $54.85 and a 200-day simple moving average of $53.42. Halozyme Therapeutics Profile ( Free Report ) Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. Featured Articles Want to see what other hedge funds are holding HALO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halozyme Therapeutics, Inc. ( NASDAQ:HALO – Free Report ). Receive News & Ratings for Halozyme Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halozyme Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter .MongoDB, Inc. Announces Third Quarter Fiscal 2025 Financial Results
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BROOMFIELD, Colo. , Dec. 9, 2024 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2025 ended October 31, 2024 , provided season pass sales results for the 2024/2025 season, updated fiscal 2025 net income attributable to Vail Resorts, Inc. guidance and reaffirmed fiscal 2025 Resort Reported EBITDA guidance, announced capital investment plans for calendar year 2025, declared a dividend payable in January 2025 , and announced first quarter share repurchases. Highlights Net loss attributable to Vail Resorts, Inc. was $172.8 million for the first quarter of fiscal 2025 compared to net loss attributable to Vail Resorts, Inc. of $175.5 million in the same period in the prior year. Resort Reported EBITDA loss was $139.7 million for the first quarter of fiscal 2025, which included $2.7 million of one-time costs related to the previously announced two-year resource efficiency transformation plan and $0.9 million of acquisition and integration related expenses, compared to a Resort Reported EBITDA loss of $139.8 million for the first quarter of fiscal 2024, which included $1.8 million of acquisition and integration related expenses. Pass product sales through December 3, 2024 for the upcoming 2024/2025 North American ski season 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 . Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying current U.S. dollar exchange rates to both current period and prior period sales for Whistler Blackcomb. The Company has made certain adjustments to its guidance for net income attributable to Vail Resorts, Inc. primarily related to a gain recorded during the first quarter of fiscal 2025, which impacted Real Estate Reported EBITDA. For fiscal 2025, the Company now expects $240 million to $316 million of net income attributable to Vail Resorts, Inc. and reaffirmed its Resort Reported EBITDA guidance of $838 million to $894 million . The Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock that will be payable on January 9, 2025 to shareholders of record as of December 26, 2024 and repurchased approximately 0.1 million shares during the quarter at an average price of approximately $174 for a total of $20 million . 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 Mountain segment net revenue increased $0.8 million , or 0.5%, to $173.3 million for the three months ended October 31, 2024 as compared to the same period in the prior year, primarily driven by an increase in summer visitation at our North American resorts as a result of improved weather conditions compared to the prior year, which generated increases in on-mountain summer activities revenue, sightseeing revenue, and dining revenue. These increases were partially offset by a decrease in lift revenue from our Australian resorts as a result of reduced visitation from weather-related challenges that impacted terrain and resulted in early closures in the current year, and a decrease in retail/rental revenue driven by the impact of broader industry-wide customer spending trends which negatively impacted retail demand, particularly at our Colorado city store locations. Mountain Reported EBITDA loss was $144.1 million for the three months ended October 31, 2024 , which represents a decrease of $4.5 million , or 3.3%, as compared to Mountain Reported EBITDA loss for the same period in the prior year, primarily driven by our Australian operations, which experienced weather-related challenges that impacted terrain and resulted in early closures, as well as incremental off-season losses from the addition of Crans-Montana (acquired May 2, 2024 ), partially offset by an increase in summer operations at our North American resorts, which benefited from warm weather conditions late in the season. Mountain segment results also include one-time operating expenses attributable to our resource efficiency transformation plan of $2.0 million for the three months ended October 31, 2024 , as well as acquisition and integration related expenses of $0.9 million and $1.8 million for the three months ended October 31, 2024 and 2023, respectively. Lodging Segment Lodging segment net revenue (excluding payroll cost reimbursements) increased $5.4 million , or 6.9%, to $83.8 million for the three months ended October 31, 2024 as compared to the same period in the prior year, primarily driven by positive weather conditions in the Grand Teton region, which enabled increased room pricing and drove increases in owned hotel rooms revenue. Additionally, dining revenue and golf revenue increased each primarily as a result of increased summer visitation at our North American mountain resort properties. Lodging Reported EBITDA was $4.4 million for the three months ended October 31, 2024 , which represents an increase of $4.6 million , as compared to Lodging Reported EBITDA loss for the same period in the prior year, primarily as a result of favorable weather conditions which drove increased visitation in the Grand Teton region and at our mountain resort properties. Lodging segment results also include one-time operating expenses attributable to our resource efficiency transformation plan of $0.7 million for the three months ended October 31, 2024 . Resort - Combination of Mountain and Lodging Segments Resort net revenue was $260.2 million for the three months ended October 31, 2024 , an increase of $5.9 million as compared to Resort net revenue of $254.3 million for the same period in the prior year. Resort Reported EBITDA loss was $139.7 million for the three months ended October 31, 2024 , compared to Resort Reported EBITDA loss of $139.8 million for the same period in the prior year. Real Estate Segment Real Estate Reported EBITDA was $15.1 million for the three months ended October 31, 2024 , an increase of $9.7 million as compared to Real Estate Reported EBITDA of $5.4 million for the same period in the prior year. During the three months ended October 31, 2024 , the Company recorded a gain on sale of real property for $16.5 million 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, as compared to the same period in the prior year, during which we recorded a gain on sale of real property for $6.3 million related to a land parcel sale in Beaver Creek, Colorado . Total Performance Total net revenue increased $1.7 million , or 0.7%, to $260.3 million for the three months ended October 31, 2024 as compared to the same period in the prior year. Net loss attributable to Vail Resorts, Inc. was $172.8 million , or a loss of $4.61 per diluted share, for the first quarter of fiscal 2025 compared to a net loss attributable to Vail Resorts, Inc. of $175.5 million , or a loss of $4.60 per diluted share, in the prior year. 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. Park City Mountain – The transformation of Park City Mountain's Canyons Village is underway to support a world-class luxury base village experience. These investments will support Park City Mountain in welcoming athletes and fans from across the world who visit the resort as it serves as a venue for the 2034 Olympic Winter Games. As announced in September, we are replacing the Sunrise lift with a new 10-person gondola in partnership with the Canyons Village Management Association in calendar year 2025, which will provide improved access and enhanced guest experience for existing and future developments within Canyons Village. The Company also plans to enhance the beginner and children's experience by expanding the existing Red Pine Lodge restaurant to upgrade the dining experience for ski and ride school guests, and by improving the teaching terrain surrounding the Red Pine Lodge. These investments are further supported by the construction of the Canyons Village Parking Garage, a new covered parking structure with over 1,800 stalls being developed by TCFC, the master developer of the Canyons Village, which is expected to break ground in spring 2025. Planning of additional investments at Park City Mountain across the mountain experience is underway and additional projects will be announced in the future. Vail Mountain – In October 2024 , the Company announced the development of West Lionshead area into a fourth base village at Vail Mountain in partnership with the Town of Vail and East West Partners. The new base village will reinforce Vail Mountain's status as a world-class destination, and is anticipated to feature access to the resort's 5,317 acres of legendary terrain, plus new lodging, restaurants, boutiques, and skier services, as well as community benefits such as workforce housing, public spaces, transit, and parking. In addition, the Company is developing a multi-year plan to invest in base area improvements, lift upgrades, and across the beginner ski and ride school and dining experiences. In calendar year 2025, the Company is planning to renovate guestrooms and common spaces at its luxury Vail hotel, the Arrabelle at Vail Square. Additionally, in calendar year 2025 the Company plans to invest in real estate planning to develop the West Lionshead area. 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: Andermatt-Sedrun – The Company plans to replace the four-person fixed grip Calmut lift and the four-person fixed grip Cuolm lift with two new six-person high speed lifts that will increase capacity and significantly improve the guest experience at the Val Val area. The Company also plans to upgrade and expand snowmaking infrastructure at the Gemsstock area on the western side of the resort to enhance the consistency of the guest experience, particularly in the early season, and significantly improve energy efficiency. In addition, the Company plans to complete the previously announced upgrade of the Sedrun-Milez snowmaking infrastructure and improvements to the Milez and Natschen restaurants. Through calendar year 2025, Vail Resorts will have invested approximately CHF 50 million of a total CHF 110 million capital that was invested as part of the purchase of the Company's majority ownership stake in Andermatt-Sedrun. Perisher – At Perisher in Australia , the Company plans to replace the Mt Perisher Double and Triple Chairs with a new six-person high speed lift, following the capital spending in calendar year 2024 that is continuing into calendar year 2025 to be completed in time for the 2025 winter season in Australia . Technology – The Company will be investing in additional new functionality for the My Epic App, including new tools to better communicate with and personalize the experience for our guests. Building on the pilot of My Epic Assistant, a new guest service technology within the My Epic App powered by advanced AI and resort experts, at four resorts for the upcoming 2024/2025 ski season, the Company is planning to invest in more advanced AI capabilities in calendar year 2025. Dining – The Company plans to invest in physical improvements to dining outlets at its largest destination resorts to improve throughput. Commitment to Zero – The Company plans to continue investing in waste reduction and emissions reduction projects across its resorts to achieve its goal of zero net operating footprint by 2030. Breckenridge – The Company is making real estate related investments to complete the multi-year transformation of the Breckenridge Peak 8 base area, where the Company has enhanced the beginner and children's experience and increased uphill capacity with the introduction of a new four-person high speed 5-Chair, new teaching terrain, and a transport carpet from the base, making the beginner experience more accessible. Keystone – The Company is investing in acquisition and build out costs for skier services that will reside in the newly developed Kindred Resort at Keystone, a family-friendly luxury ski-in, ski-out lodging residence and Rock Resorts-branded hotel at the base of the River Run Gondola, including new restaurants, a full-service spa, pool and hot tub facilities, and the new home for the Keystone Ski & Ride School, and a retail and rental shop. The Kindred development follows the transformational lift-served terrain expansion project in Bergman Bowl, increasing lift-served terrain by 555 acres with the addition of a new six-person high speed lift, which was completed for the 2023/2024 North American ski season. In addition to the investments planned for calendar year 2025, the Company is completing significant investments that will enhance the guest experience for the upcoming 2024/2025 North American and European ski season. As previously announced, the Company expects its capital plan for calendar year 2024 to be approximately $189 million to $194 million , excluding $13 million of incremental capital investments in premium fleet and fulfillment infrastructure to support the official launch of My Epic Gear for the 2024/2025 winter season at 12 destination and regional resorts across North America , $7 million of growth capital investments at Andermatt-Sedrun, $2 million of maintenance and $2 million of integration investments at Crans-Montana, and $3 million of reimbursable capital. Including these one-time investments, the Company's total capital plan for calendar year 2024 is now expected to be approximately $216 million to $221 million . Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 579-2543 (U.S. and Canada ) or +1 (785) 424-1789 (international). The conference ID is MTNQ125. A replay of the conference call will be available two hours following the conclusion of the conference call through December 16, 2024 , at 11:59 p.m. eastern time . To access the replay, dial (800) 753-9146 (U.S. and Canada ) or +1 (402) 220-2705 (international). The conference call will also be archived at www.vailresorts.com . About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge , Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America ; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland ; and Perisher, Hotham, and Falls Creek in Australia . We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America . Learn more about our company at www.VailResorts.com , or discover our resorts and pass options at www.EpicPass.com . Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; our expectations regarding our resource efficiency transformation plan; and the payment of dividends. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe , or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , which was filed on September 26, 2024 . All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures. Vail Resorts, Inc. Consolidated Condensed Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended October 31, 2024 2023 Net revenue: Mountain and Lodging services and other $ 187,050 $ 182,834 Mountain and Lodging retail and dining 73,162 71,442 Resort net revenue 260,212 254,276 Real Estate 63 4,289 Total net revenue 260,275 258,565 Segment operating expense: Mountain and Lodging operating expense 266,264 255,576 Mountain and Lodging retail and dining cost of products sold 28,947 31,295 General and administrative 106,857 108,025 Resort operating expense 402,068 394,896 Real Estate operating expense 1,491 5,181 Total segment operating expense 403,559 400,077 Other operating (expense) income: Depreciation and amortization (71,633) (66,728) Gain on sale of real property 16,506 6,285 Change in estimated fair value of contingent consideration (2,079) (3,057) Loss on disposal of fixed assets and other, net (1,529) (2,043) Loss from operations (202,019) (207,055) Mountain equity investment income, net 2,151