kinds of cockfighting bloodlines

kinds of cockfighting bloodlines

NoneAbout seven million years ago, though that could be way off, the chimpanzee and Homo lines split. The chimp developed one way, we went another. We don't know who our last common ancestor was, or even who the last hominin ancestor from that would produce sapiens was. But we have learned some amazing new things. We know that with all due respect to stories of supernatural generation of species from dirt, we aren't a singular artifact but a hybrid hominin with some Neanderthal, Denisovan and others inside. While sapiens and others met multiple times over 200,000 years, we newly realize that all non-Africans, all, stem from just one interspecies brush 45,000 years ago. As Homo progressed, we changed the world around us. We did this chiefly by eating all the big animals. At least we began painting the animals' pictures before driving them to extinction, and did so much earlier than had been known. Yeah we ate plant matter too; it bears pointing out that physiologically, we have to. And we do care. We always did, as indicated by the child of Neanderthals who survived – with Down's syndrome. Here are some of the human evolution stories that surprised us in 2024 and one about the evolution of our relationship with dogs. Guess what, it may not have developed as simply as we tend to think. And turtles. Ditto. Early humans lived at Gesher Benot Yaakov from at least 800,000 years ago. We don't know which species of human and who cares, says Prof. Gonen Sharon. The question is how they lived and he believes the extraordinary conditions of preservation at this unique site on the banks of an artificial river may have the answers. Yes they found elephant remains. The only body ever categorically determined to be from the Clovis culture that occupied the Americas, that of a little boy, proves Israeli theory of evolution. It involves – elephants. Over the last 1.5 million years, the body size of animals shrank by 98% and it has now been proved that it was us: our ravening appetite pushed us to pursue ever-smaller animals when the biggest ones ran out. And we had the smarts to make ever-better tools to catch the ever-smaller and fleeter animals. Bone appetite . We get it, humans like to eat meat, and fat. We will also eat plants and in fact this prehistoric village in Morocco ate a lot of them . The question is why. The earliest art , which shows a pig and was found in Indonesia, is even older than thought, archaeologists report. They had thought it was perhaps over 45,000 years old. They were right. It's more than 51,000 years old. We had begun to realize that early modern humans were beetling out of Africa a good 200,000 years ago if not more. They were meeting Neanderthals, and other human species, and mixing with them, several times. We get that. What happened next was a surprise. It is true that the Neanderthals in question were probably also hybrids, as are we. But the evidence showing Down's syndrome in a young Neanderthal speaks volumes about their compassion, which is evidently neither the fief nor the invention of sapiens. Truth, it's hard to prove what people were thinking 35,000 years ago but face it, why would people haul a rock carved like a tortoise shell into the bowels of Manot Cave in Israel, if not for some sort of spiritual reasons? Let us be clear that the Natufians, a pre-agricultural culture in prehistoric Israel living from 15,000 to 11,500 years ago, weren't driving. But they seem to have invented the first spindle whorls and the principle of rotational technology is the principle of rotational technology. We met wolf, we liked, he liked, eyebrow technology may have been involved. Or maybe the domestication of the wolf and emergence of the dog wasn't that straightforward after all, going by bewildering evidence of interactions between different canid species and the first Americans.

Penn State wins trademark case over retailer's use of vintage logos, images

By ALEXANDRA OLSON and CATHY BUSSEWITZ NEW YORK (AP) — Walmart’s sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are revaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups in business. The changes announced by the world’s biggest retailer followed a string of legal victories by conservative groups that have filed an onslaught of lawsuits challenging corporate and federal programs aimed at elevating minority and women-owned businesses and employees. The risk associated with some of programs crystalized with the election of former President Donald Trump, whose administration is certain to make dismantling diversity, equity and inclusion programs a priority. Trump’s incoming deputy chief of policy will be his former adviser Stephen Miller , who leads a group called America First Legal that has aggressively challenged corporate DEI policies. “There has been a lot of reassessment of risk looking at programs that could be deemed to constitute reverse discrimination,” said Allan Schweyer, principal researcher the Human Capital Center at the Conference Board. “This is another domino to fall and it is a rather large domino,” he added. Among other changes, Walmart said it will no longer give priority treatment to suppliers owned by women or minorities. The company also will not renew a five-year commitment for a racial equity center set up in 2020 after the police killing of George Floyd. And it pulled out of a prominent gay rights index . Schweyer said the biggest trigger for companies making such changes is simply a reassessment of their legal risk exposure, which began after U.S. Supreme Court’s ruling in June 2023 that ended affirmative action in college admissions. Since then, conservative groups using similar arguments have secured court victories against various diversity programs, especially those that steer contracts to minority or women-owned businesses. Most recently, the conservative Wisconsin Institute for Law & Liberty won a victory in a case against the U.S. Department of Transportation over its use of a program that gives priority to minority-owned businesses when it awards contracts. Companies are seeing a big legal risk in continuing with DEI efforts, said Dan Lennington, a deputy counsel at the institute. His organization says it has identified more than 60 programs in the federal government that it considers discriminatory, he said. “We have a legal landscape within the entire federal government, all three branches — the U.S. Supreme Court, the Congress and the President — are all now firmly pointed in the direction towards equality of individuals and individualized treatment of all Americans, instead of diversity, equity and inclusion treating people as members of racial groups,” Lennington said. The Trump administration is also likely to take direct aim at DEI initiatives through executive orders and other policies that affect private companies, especially federal contractors. “The impact of the election on DEI policies is huge. It can’t be overstated,” said Jason Schwartz, co-chair of the Labor & Employment Practice Group at law firm Gibson Dunn. With Miller returning to the White House, rolling back DEI initiatives is likely to be a priority, Schwartz said. “Companies are trying to strike the right balance to make clear they’ve got an inclusive workplace where everyone is welcome, and they want to get the best talent, while at the same time trying not to alienate various parts of their employees and customer base who might feel one way or the other. It’s a virtually impossible dilemma,” Schwartz said. A recent survey by Pew Research Center showed that workers are divided on the merits of DEI policies. While still broadly popular, the share of workers who said focusing on workplace diversity was mostly a good thing fell to 52% in the November survey, compared to 56% in a similar survey in February 2023. Rachel Minkin, a research associated at Pew called it a small but significant shift in short amount of time. There will be more companies pulling back from their DEI policies, but it likely won’t be a retreat across the board, said David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion and Belonging at New York University. “There are vastly more companies that are sticking with DEI,” Glasgow said. “The only reason you don’t hear about it is most of them are doing it by stealth. They’re putting their heads down and doing DEI work and hoping not to attract attention.” Glasgow advises organizations to stick to their own core values, because attitudes toward the topic can change quickly in the span of four years. “It’s going to leave them looking a little bit weak if there’s a kind of flip-flopping, depending on whichever direction the political winds are blowing,” he said. One reason DEI programs exist is because without those programs, companies may be vulnerable to lawsuits for traditional discrimination. “Really think carefully about the risks in all directions on this topic,” Glasgow said. Walmart confirmed will no longer consider race and gender as a litmus test to improve diversity when it offers supplier contracts. Last fiscal year, Walmart said it spent more than $13 billion on minority, women or veteran-owned good and service suppliers. It was unclear how its relationships with such business would change going forward. Organizations that that have partnered with Walmart on its diversity initiatives offered a cautious response. The Women’s Business Enterprise National Council, a non-profit that last year named Walmart one of America’s top corporation for women-owned enterprises, said it was still evaluating the impact of Walmart’s announcement. Pamela Prince-Eason, the president and CEO of the organization, said she hoped Walmart’s need to cater to its diverse customer base will continue to drive contracts to women-owned suppliers even if the company no longer has explicit dollar goals. “I suspect Walmart will continue to have one of the most inclusive supply chains in the World,” Prince-Eason wrote. “Any retailer’s ability to serve the communities they operate in will continue to value understanding their customers, (many of which are women), in order to better provide products and services desired and no one understands customers better than Walmart.” Related Articles National News | Bird flu virus was found in raw milk. What to know about the risks National News | Ransomware attack on software supplier disrupts operations for Starbucks and other retailers National News | Man found guilty of holding down teen while he was raped at a youth center in 1998 National News | What Black Friday’s history tells us about holiday shopping in 2024 National News | New rule allows HIV-positive organ transplants Walmart’s announcement came after the company spoke directly with conservative political commentator and activist Robby Starbuck, who has been going after corporate DEI policies, calling out individual companies on the social media platform X. Several of those companies have subsequently announced that they are pulling back their initiatives, including Ford , Harley-Davidson, Lowe’s and Tractor Supply . Walmart confirmed to The Associated Press that it will better monitor its third-party marketplace items to make sure they don’t feature sexual and transgender products aimed at minors. The company also will stop participating in the Human Rights Campaign’s annual benchmark index that measures workplace inclusion for LGBTQ+ employees. A Walmart spokesperson added that some of the changes were already in progress and not as a result of conversations that it had with Starbuck. RaShawn “Shawnie” Hawkins, senior director of the HRC Foundation’s Workplace Equality Program, said companies that “abandon” their commitments workplace inclusion policies “are shirking their responsibility to their employees, consumers, and shareholders.” She said the buying power of LGBTQ customers is powerful and noted that the index will have record participation of more than 1,400 companies in 2025.BANGKOK — Japanese automakers Honda and Nissan will attempt to merge and create the world's third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda will initially lead the new management, retaining the principles and brands of each company. Following is a quick look at what a combined Honda and Nissan would mean for the companies, and for the auto industry. Nissan Chief Executive Makoto Uchida, left, and Honda Chief Executive Toshihiro Mibe, center, and Takao Kato CEO of Mitsubishi Motors, right, arrive to attend a joint news conference Monday, Dec. 23, 2024, in Tokyo, Japan. (AP Photo/Eugene Hoshiko) The ascent of Chinese automakers is rattling the industry at a time when manufacturers are struggling to shift from fossil fuel-driven vehicles to electrics. Relatively inexpensive EVs from China's BYD, Great Wall and Nio are eating into the market shares of U.S. and Japanese car companies in China and elsewhere. Japanese automakers have lagged behind big rivals in EVs and are now trying to cut costs and make up for lost time. Nissan, Honda and Mitsubishi announced in August that they will share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Honda, Japan's second-largest automaker, and Nissan, third largest, was announced in March. A merger could result in a behemoth worth about $55 billion based on the market capitalization of all three automakers. Joining forces would help the smaller Japanese automakers add scale to compete with Japan's market leader Toyota Motor Corp. and with Germany's Volkswagen AG. Toyota itself has technology partnerships with Japan's Mazda Motor Corp. and Subaru Corp. Nissan Chief Executive Makoto Uchida, left, Honda Chief Executive Toshihiro Mibe, center, and Takao Kato, CEO of Mitsubishi Motors, right, pose for photographers during a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024. (AP Photo/Eugene Hoshiko) Nissan has truck-based body-on-frame large SUVs such as the Armada and Infiniti QX80 that Honda doesn't have, with large towing capacities and good off-road performance, said Sam Fiorani, vice president of AutoForecast Solutions. Nissan also has years of experience building batteries and electric vehicles, and gas-electric hybird powertrains that could help Honda in developing its own EVs and next generation of hybrids, he said. "Nissan does have some product segments where Honda doesn't currently play," that a merger or partnership could help, said Sam Abuelsamid, a Detroit-area automotive industry analsyt. While Nissan's electric Leaf and Ariya haven't sold well in the U.S., they're solid vehicles, Fiorani said. "They haven't been resting on their laurels, and they have been developing this technology," he said. "They have new products coming that could provide a good platform for Honda for its next generation." Nissan said last month that it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen ($61 million). Earlier this month it reshuffled its management and its chief executive, Makoto Uchida, took a 50% pay cut to take responsibility for the financial woes, saying Nissan needed to become more efficient and respond better to market tastes, rising costs and other global changes. Fitch Ratings recently downgraded Nissan's credit outlook to "negative," citing worsening profitability, partly due to price cuts in the North American market. But it noted that it has a strong financial structure and solid cash reserves that amounted to 1.44 trillion yen ($9.4 billion). Nissan's share price has fallen to the point where it is considered something of a bargain. A report in the Japanese financial magazine Diamond said talks with Honda gained urgency after the Taiwan maker of iPhones Hon Hai Precision Industry Co., better known as Foxconn, began exploring a possible acquisition of Nissan as part of its push into the EV sector. The company has struggled for years following a scandal that began with the arrest of its former chairman Carlos Ghosn in late 2018 on charges of fraud and misuse of company assets, allegations that he denies. He eventually was released on bail and fled to Lebanon. Honda reported its profits slipped nearly 20% in the first half of the April-March fiscal year from a year earlier, as sales suffered in China. Toyota made 11.5 million vehicles in 2023, while Honda rolled out 4 million and Nissan produced 3.4 million. Mitsubishi Motors made just over 1 million. Even after a merger Toyota would remain the leading Japanese automaker. All the global automakers are facing potential shocks if President-elect Donald Trump follows through on threats to raise or impose tariffs on imports of foreign products, even from allies like Japan and neighboring countries like Canada and Mexico. Nissan is among the major car companies that have adjusted their supply chains to include vehicles assembled in Mexico. Meanwhile, analysts say there is an "affordability shift" taking place across the industry, led by people who feel they cannot afford to pay nearly $50,000 for a new vehicle. In American, a vital market for companies like Nissan, Honda and Toyota, that's forcing automakers to consider lower pricing, which will eat further into industry profits. ____ AP Auto Writer Tom Krisher contributed to this report from Detroit. Airbags, advanced driver assistance features, and high-strength materials mean that the safest cars today are far better at protecting people from injuries than ever before. Although most new cars compare well to their predecessors, some stand above the rest. The safest cars for 2025 offer excellent occupant protection and also do a good job of preventing accidents from happening in the first place. Based on testing data from the Insurance Institute for Highway Safety , or IIHS, and the National Highway Traffic Safety Administration , or NHTSA, these are some of the safest cars available today. Ranging from inexpensive compact cars and mainstream midsize sedans to stylish station wagons, posh luxury cars, and sporty coupes and convertibles, Edmunds shares a list that has something for just about everyone. For those who prefer a higher seating position and maybe some added practicality, Edmunds' list of safest SUVs is for you. The stylish Mazda 3 has a lot to offer compact-car shoppers, including great looks, a composed driving experience, and reasonable fuel economy from its base 2.0-liter engine. It's also one of the safest cars in its class, earning a perfect five stars in NHTSA crash testing and sterling crashworthiness and collision avoidance scores from the IIHS. Its standard features are forward collision warning, automatic emergency braking, and lane departure prevention. With mature styling, a premium interior, and an efficient hybrid powertrain option, the 2025 Honda Civic is a great option if safety is a concern since it aces almost all of the IIHS' crash tests and earns a five-star safety rating from the federal government. It also comes standard with adaptive cruise control, lane departure prevention, and forward collision warning with automatic emergency braking. The Civic falls short slightly in the IIHS' updated moderate overlap front test, which now accounts for rear passenger safety, but even so, it's one of the safest cars in its class. Reflective of parent company BMW, today's Mini Cooper is well constructed and features premium safety features that belie its small size, including automatic emergency braking and forward collision warning. Although the Mini hasn't been tested by NHTSA, the IIHS gives the Cooper its highest score of Good in the original driver-side small overlap front, moderate overlap front, and side-impact tests. That said, the IIHS doesn't place the Cooper on its Top Safety Pick or Top Safety Pick+ lists since it hasn't been evaluated on the updated battery of passenger-side small overlap front, moderate overlap front, or side-impact tests. Expect the new-for-2025 Mini Cooper to earn decent crash ratings in those scenarios, especially since it shares its strong platform with the outgoing model. With its recent redesign, the Toyota Prius transformed from a frumpy little caterpillar to a stylish and efficient butterfly. It also became a very safe hybrid hatchback. Perfect scores in all of its government and IIHS crash tests, as well as a sophisticated system of collision avoidance technology, earn it top marks. It's also one of our favorite cars on the market, period, as evidenced by its status as a 2024 Edmunds Top Rated vehicle. The Honda Accord is among the safest midsize sedans on the market today thanks to excellent crashworthiness scores and a competent standard collision prevention system. It's a Top Safety Pick+, beating out rivals like the Hyundai Sonata, Kia K5, and Subaru Legacy, and the Accord also earns a perfect five-star rating from NHTSA. Honda's hybrid-intensive product planning is on full display here—all but the two lowest Accord trims have a hybrid powertrain—and it's also among the most spacious cars in its class. Like its Honda Accord rival, the Toyota Camry is also an IIHS Top Safety Pick+ with a five-star NHTSA rating. It also has a very impressive suite of driver assistance and safety technology, including lane departure prevention with active centering, full-speed adaptive cruise control, and automatic emergency braking. The Camry edges out the Accord in IIHS testing thanks to a more effective collision avoidance system, but both cars are remarkably well matched otherwise. The fully electric Hyundai Ioniq 6 offers excellent safety and collision prevention, with excellent scores across the entire line of IIHS tests. The Ioniq 6 hasn't been tested for rollover resistance by NHTSA, but it earned a four-star front safety rating and a five-star side-impact rating in government tests. Like most EVs, the Hyundai Ioniq 6 comes standard with forward collision warning, automatic emergency braking, and lane departure prevention. It also offers up to 342 miles of all-electric driving in its longest-range trim level. The Acura Integra is a close mechanical cousin to the Honda Civic, so it's no surprise it does well in both the IIHS' and NHTSA's crash tests. The luxury hatchback is a Top Safety Pick+ and earns a perfect five stars in government testing. The AcuraWatch safety suite is standard on the Integra, bringing automatic emergency braking, lane centering, lane departure prevention, and adaptive cruise control. The Mercedes-Benz C-Class is a safe option in the popular small luxury sedan segment thanks to its good scores in IIHS crash testing. Mercedes' best-selling sedan also comes standard with automatic emergency braking and forward collision warning, which helps it earn a Top Safety Pick award. However, it hasn't been tested by the NHTSA. Both the Genesis G80 and the fully electric Genesis Electrified G80 earn a Top Safety Pick+ score from the IIHS thanks to their good scores on the agency's crash tests, as well as a comprehensive suite of active safety features that avoided collisions with simulated pedestrians. The internal-combustion-engine G80 earned a perfect five-star safety rating from NHTSA, and although the Electrified G80 hasn't been tested by the feds just yet, it should likely excel in those tests too. The flagship Genesis G90 sedan competes with the Mercedes-Benz S-Class and BMW 7 Series, and the South Korean automaker clearly hasn't skimped on safety in its fight against the establishment. Although it hasn't been subjected to the NHTSA array of tests, it aced almost all of its IIHS tests, and a long list of standard active safety and driver assistance features sets it apart from the stingy German makes that charge extra for them. With handsome styling and a well-finished interior, the Volvo V60 is a very appealing station wagon for those looking for such a thing. It's also quite safe, with good crashworthiness scores in the IIHS' original moderate overlap front and side-impact scores. Unfortunately, since it hasn't been tested with the updated versions of those tests, it didn't earn this year's Top Safety Pick award, but it was called a Top Safety Pick+ in 2022. NHTSA also gives the V60 a five-star safety rating. Although the Mercedes-Benz E 450 All-Terrain isn't a traditional wagon — it follows the lifted almost-crossover formula shared with the Audi A6 Allroad and Volvo V90 Cross Country — we'll take what we can get in this dwindling category. The All-Terrain hasn't been tested by the IIHS or NHTSA, but a previous-generation E-Class earned a 2023 Top Safety Pick+ award, and Mercedes isn't the kind of company that goes backward when it comes to safety. The E 450 All-Terrain comes standard with automatic emergency braking and forward collision warning, though, at this price, Benz should just make other active safety features standard. With a five-star NHTSA safety rating, standard forward collision warning and emergency braking, and excellent IIHS crashworthiness scores on its original tests, the Audi A6 Allroad does a good job protecting people (both passengers and pedestrians) from crashes. However, since the IIHS hasn't subjected the Allroad to its updated side and moderate front crash criteria, it lost its Top Safety Pick+ status in 2022. Still, it should be a fine option for luxury longroof shoppers. Both the Ford Mustang coupe and convertible perform well in crash testing. The coupe received a five-star safety rating from NHTSA, and both variants scored decently on all the IIHS tests they've undergone. They also come standard with forward collision warning, lane departure prevention, and automatic emergency braking. However, the IIHS needs to test both models on its updated criteria before it will rate them. Although the government hasn't tested it, the Toyota GR86 aced all of its IIHS crashworthiness tests when it was new for the 2022 model year. Unfortunately, since it hasn't been subjected to the IIHS' updated testing since then, it lost its Top Safety Pick+ status. Still, this is a fun-to-drive, sporty coupe that comes standard with a long list of active safety features, and it's reasonably priced to boot. Mechanically identical to the Toyota GR86, the 2025 Subaru BRZ achieves the same safety ratings—who would have thought? It likewise received a Top Safety Pick+ score in 2022 that lapsed when the IIHS updated its criteria for 2023, but like the Toyota, it has a long list of active safety features to go along with its lightweight, rip-roaring sports car attitude. The Audi A5 lost its traditional two-door coupe body style after 2024, but the five-door Sportback body style remains before it's replaced later in 2025. Although it hasn't seen the IIHS' more stringent test regimen, its original crashworthiness scores were good enough to earn it a Top Safety Pick award as recently as 2022. The Sportback is the only variant to be tested by the government, where it earned a five-star safety rating. This story was produced by Edmunds and reviewed and distributed by Stacker. Get the latest local business news delivered FREE to your inbox weekly.

Tech entrepreneur Elon Musk caused uproar after backing Germany’s far-right party in a major newspaper ahead of key parliamentary elections in the Western European country, leading to the resignation of the paper’s opinion editor in protest. Germany is to vote in an early election on Feb. 23 after Chancellor Olaf Scholz’s three-party governing coalition collapsed last month in a dispute over how to revitalize the country’s stagnant economy. Musk's guest opinion piece for Welt am Sonntag —a sister publication of POLITICO owned by the Axel Springer Group — published in German over the weekend, was the second time this month he supported the Alternative for Germany, or AfD. “The Alternative for Germany (AfD) is the last spark of hope for this country," Musk wrote in his translated commentary. He went on to say the far-right party “can lead the country into a future where economic prosperity, cultural integrity and technological innovation are not just wishes, but reality.” The Tesla Motors CEO also wrote that his investment in Germany gave him the right to comment on the country's condition. The AfD is polling strongly, but its candidate for the top job, Alice Weidel, has no realistic chance of becoming chancellor because other parties refuse to work with the far-right party. An ally of U.S. President-elect Donald Trump, the technology billionaire challenged in his opinion piece the party's public image. “The portrayal of the AfD as right-wing extremist is clearly false, considering that Alice Weidel, the party’s leader, has a same-sex partner from Sri Lanka! Does that sound like Hitler to you? Please!” Musk’s commentary has led to a debate in German media over the boundaries of free speech, with the paper's own opinion editor announcing her resignation, pointedly on Musk's social media platform, X. “I always enjoyed leading the opinion section of WELT and WAMS. Today an article by Elon Musk appeared in Welt am Sonntag. I handed in my resignation yesterday after it went to print," Eva Marie Kogel wrote. A critical article by the future editor-in-chief of the Welt group, Jan Philipp Burgard, accompanied Musk’s opinion piece. “Musk’s diagnosis is correct, but his therapeutic approach, that only the AfD can save Germany, is fatally wrong,” Burgard wrote. Responding to a request for comment from the German Press Agency, dpa, the current editor-in-chief of the Welt group, Ulf Poschardt, and Burgard — who is due to take over on Jan. 1 — said in a joint statement that the discussion over Musk's piece was "very insightful. Democracy and journalism thrive on freedom of expression.” “This will continue to determine the compass of the “world” in the future. We will develop “Die Welt” even more decisively as a forum for such debates,” they wrote to dpa.

These holiday gifts change the game when building fires, printing photos, watching birds and moreVista Outdoor Stockholders Approve CSG Transaction to Acquire The Kinetic Group

Ohtani wins third MVP, while Judge takes his secondBy Lawrence Delevingne (Reuters) - Investor Scott Bessent has spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund. Bessent will take his investing knowledge down a rarefied career path that only a few other prominent Wall Street luminaries have followed: running the U.S. Treasury. Other examples of U.S. Treasury secretaries who have come from finance include Steven Mnuchin, who served under Trump in his first term, and had worked at Goldman Sachs. Henry Paulson, who served as Treasury secretary under George W. Bush, was also a Goldman Sachs alumnus, where he had been chairman and CEO. Bessent has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal. The market's surge after Trump's election victory, he wrote, signaled investor "expectations of higher growth, lower volatility and inflation, and a revitalized economy for all Americans." "Scott is one of the smartest and sharpest investors I’ve had the privilege to work for. Just like George Soros was, he too is typically multiple steps ahead of the market," said Michael Oliver Weinberg, a Columbia Business School professor and investment advisor who previously worked under Bessent as a portfolio manager at Soros Fund Management. Bessent, 62, has said his success came after growing up knowing financial anxiety. He grew up in the fishing village of Little River, South Carolina, where Bessent has said his father, a real estate investor, experienced booms and busts. “I’ve known financial anxiety and I do not want that for any family,” Bessent told Trump ally Roger Stone in a recent interview on Stone's radio show. Bessent attended Yale College and considered journalism but, after graduating in 1984 with a degree in political science, took an internship on Wall Street. He worked for Chanos in the late 1980s and then joined Soros Fund Management, Soros' famed macroeconomic investment firm. He soon helped Soros and top deputy Stanley Druckenmiller on their most famous trade - shorting the British pound in 1992, which earned the firm more than $1 billion. In 2015, Bessent raised $4.5 billion, including $2 billion from Soros, to launch Key Square Group, a hedge fund firm that bets on macroeconomic trends. The firm managed approximately $577 million in overall assets, as of December 2023, according to a regulatory filing. Bessent has said he has known the Trump family for 30 years through a friendship with Donald Trump’s late brother, Robert Trump. Bessent supported Donald Trump’s presidential run in 2016 but during this election cycle worked as a top economic advisor to the campaign in addition to being a top fundraiser. “I was all in for President Trump. I was one of the few Wall Street people backing him,” Bessent told Stone over the weekend. (Reporting by Lawrence Delevingne in Boston, editing by Megan Davies and Rod Nickel)

Global to join forces with Motors & Armatures; Philip Windham named CEO of growing HVAC/R platform LOS ANGELES , Dec. 6, 2024 /PRNewswire/ -- Platinum Equity announced today a significant investment in Global, the Source ("Global"), a leading master distributor of HVAC/R components, and its subsidiary AmRad Manufacturing LLC. The transaction marks Platinum Equity's second investment in the HVAC/R industry this year. In July, the firm invested in Motors & Armatures Inc. (MARS). Global and MARS, which have a longstanding history, will now join forces, helping strengthen the product and service offerings for both companies. Founded in 1982 and based in Universal City, Texas , Global is a leading master distributor of HVAC/R components such as capacitors, relays, transformers, contactors, disconnects, whips, and more. Global serves HVAC/R wholesalers throughout the United States. The company has vertically integrated design and manufacturing operations, including via its AmRad Manufacturing LLC subsidiary located in Palm Coast, Florida , which proudly manufactures USA -made capacitors and Turbo 200® products. MARS, based in Hauppauge, New York , is a leading distribution platform for HVAC/R parts, supplies and equipment in North America , and has been the exclusive sub-distributor for select Global products since 2012. "The partnership between MARS and Global is a natural one as both companies have worked together for decades," said Global Owner and President Dickie Sirotiak. "The investment from Platinum will allow us to introduce more products to market while continuing to maintain the outstanding service levels that both MARS and Global customers demand." In connection with the Global investment, Platinum Equity announced an integrated leadership structure for the combined platform: "We are thrilled to welcome Global to our growing platform," said Chernoff. "This move brings together two great family-owned businesses and will strengthen our position as a category leader in electronic components for the HVAC/R aftermarket." Chernoff praised Windham as a great fit to lead the combined platform. "Philip brings 25 years of industry experience to the job," said Chernoff. "He is passionate about developing people and building high-performance teams. He has a customer-centric mindset and I'm confident he's the right leader to guide these businesses into their next phase of growth." Windham said he's excited about the new role. "Both the Sirotiak and Chernoff families have built impressive businesses over the past several decades, becoming true leaders in the HVAC/R industry," said Windham. "I am honored to continue their legacies and work with both teams to expand our reach within the industry." Platinum Equity expects to continue pursuing additional opportunities to invest in the industry. "We are optimistic about the prospects for growth in the sector and will work with MARS and Global to add more value for their customers," said Platinum Equity Co-President Jacob Kotzubei and Managing Director Dan Krasner in a joint statement. "We will partner with the leadership team to identify and pursue additional opportunities to diversify and increase scale, both organically and through strategic M&A." Financial terms of the Global investment were not disclosed. O'Melveny & Myers served as legal counsel to Platinum Equity and MARS. About Platinum Equity Founded in 1995 by Tom Gores , Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O ® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions. Contact : Dan Whelan Platinum Equity dwhelan@platinumequity.com View original content: https://www.prnewswire.com/news-releases/platinum-equity-invests-in-hvacr-distributor-global-the-source-302325210.html SOURCE Platinum Equity