
I like Martha Stewart. Always have. Two recent documentaries, “Martha” on Netflix and the CNN series “The Many Lives of Martha Stewart,” follow the Greek drama that make Stewart a cultural fascination to this day. They recount the jihad against this visionary who came under attack for being a woman with fierce ambition. Admittedly, Stewart’s hard-edged perfectionism and nuclear-powered drive had created some tension with her product, the “soft” home arts of cooking, flower arranging and chair reupholstering. But did she have to be destroyed? Sure, Stewart engaged in some insider trading that may have seemed nothing more than an innocent stock tip. She shouldn’t have lied about it to the FBI. But did journalist Dominick Dunne have to call her the “Goddess of Greed” over a transaction that saved the creator of a billion-dollar business only $45,673? It sure didn’t merit five months in prison. In 1987, the cultural hyenas jumped on her for signing a $5 million contract with Kmart. Stewart was allegedly “selling out” the domestic lifestyle she had cultivated, moving away from authenticity toward mass production and profit. Heaven forfend. The year before, The Disney Co.’s CEO walked off with a $90 million severance check after 14 months of undistinguished performance. She was tenacious. So what? Male executives wore that badge proudly. This woman built a business empire based on creating artistic cheese trays and making wreaths from dry leaves. Try that, Elon Musk. Some of her trouble came in the sub-message that our home lives had turned slovenly because Americans had stopped caring about family dinners and dust balls under the sofa. Some translated that not as a call to do better but as an indictment. But Stewart had no army. Those who accused her of creating unrealistic expectations for women juggling work and family should have been asked: Whose expectations? One could simply enjoy watching her on TV or reading her magazine, Martha Stewart Living. Her projects were properly labeled “aspirational.” I once tried to follow her instructions for coloring cloth with natural vegetable dyes. Two hours later, I ended up with blotchy fabric and hands stained by beet juice. I tried, I failed, and I had a funny story to tell. I was intrigued by her demonstration on how to roll an ironed tablecloth in parchment paper to prevent wrinkles. And how nice that she could whip up 80 perfectly iced little cakes in no time. I can’t do a single backflip. Must I resent Simone Biles for executing a triple-double in one move? It took Superwoman strength to plant an orchard with 122 trees and who knows how many rose bushes. One interviewer noted that people living in Detroit or New York City couldn’t do rose gardens. She responded, “But yes, they want roses.” The fantasy was more than half the point. Women were among her leading inquisitors. One called her “the most intimidating homemaker on earth.” Another female interviewer tells her, “Either they worship you or they say you make us crazy.” There was a third possibility — that they found her entertaining. Stewart can lay claim to two heroic feats: She played a big part in improving the quality of American homelife. And she rebuilt a business that had been left for dead. Above all, Martha was a great tough broad. You saw how TV’s Larry King kept badgering her about her failed marriage in a way that would have seemed bizarre had the executive been a man. “I had sacrificed a marriage because of the allure of a great job,” she finally relented. And she didn’t regret it? She did not. I like Stewart, still going strong at 83. More than ever. Harrop, who lives in New York City and Providence, Rhode Island, writes for Creators Syndicate: fharrop@gmail.com . Get local news delivered to your inbox!
NEW YORK (AP) — Lawyers for Sean “Diddy” Combs tried for a third time Friday to persuade a judge to let him leave jail while he awaits his sex trafficking trial, but a decision won’t come until next week. Read this article for free: Already have an account? As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed. Now, more than ever, we need your support. Starting at $14.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website. or call circulation directly at (204) 727-0527. Your pledge helps to ensure we provide the news that matters most to your community! NEW YORK (AP) — Lawyers for Sean “Diddy” Combs tried for a third time Friday to persuade a judge to let him leave jail while he awaits his sex trafficking trial, but a decision won’t come until next week. Read unlimited articles for free today: Already have an account? NEW YORK (AP) — Lawyers for Sean “Diddy” Combs tried for a third time Friday to persuade a judge to let him leave jail while he awaits his sex trafficking trial, but a decision won’t come until next week. Judge Arun Subramanian said at a hearing that he will release his decision on Combs’ latest request for bail after Combs’ lawyers and federal prosecutors file letters addressing outstanding issues. Those letters are due at noon on Monday, Subramanian said. Combs’ lawyers pitched having him await trial under around-the-clock surveillance either his mansion on an island near Miami Beach or — after the judge scoffed at that location — an apartment on Manhattan’s Upper East Side. Their plan essentially amounts to putting Combs on house arrest, with strict limits on who he has contact with. But prosecutors argue that Combs has routinely flouted jail rules and can’t be trusted not to interfere with witnesses or the judicial process. “The argument that he’s a lawless person who doesn’t follow instructions isn’t factually accurate,” Combs lawyer Anthony Ricco argued. “The idea that he’s an out-of-control individual who has to be detained isn’t factually accurate.” Combs, 55, has pleaded not guilty to charges that he coerced and abused women for years with help from a network of associates and employees while silencing victims through blackmail and violence, including kidnapping, arson and physical beatings. His trial is slated to begin May 5. The Bad Boy Records founder remains locked up at a Brooklyn federal jail, where he spent his Nov. 4 birthday. Two other judges previously concluded that Combs would be a danger to the community if he is released and an appeals court judge last month denied Combs’ immediate release while a three-judge panel of the 2nd U.S. Circuit Court of Appeals weighs his bail request. Friday’s hearing was the second time Combs was in court this week. On Tuesday, a judge blocked prosecutors from using as evidence papers that were seized from his cell during jail-wide sweep for contraband and weapons at the Metropolitan Detention Center in Brooklyn. As he entered through a side door, Combs waved to relatives including his mother and several of his children in the courtroom gallery, tapping his hand to his heart and blowing kisses at them. He then hugged his lead attorney, Marc Agnifilo, before taking a seat at the defense table. He was not handcuffed or shackled and wore a beige jail uniform, occasionally pulling a pair of reading glasses from his pocket as he peered at papers in front of him. Prosecutors maintain that no bail conditions will mitigate the “risk of obstruction and dangerousness to others” of releasing Combs from jail. Prosecutors contend that while locked up the “I’ll Be Missing You” artist has orchestrated social media campaigns aimed at tainting the jury pool. They allege that he has also attempted to publicly leak materials he thinks would be helpful to his case and is contacting potential witnesses via third parties. “Simply put, the defendant cannot be trusted,” Assistant U.S. Attorney Christy Slavik argued. Combs’ lawyer Teny Geragos countered that, given the strict release conditions proposed, “it would be impossible for him not to follow rules.” Advertisement AdvertisementSEC Chair Gary Gensler, who led US crackdown on cryptocurrencies, to step downFeddersen's 17 help North Dakota State defeat West Georgia 73-61Wall Street edges back from its records
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FORT WASHINGTON, Pa., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (TollBrothers.com), the nation’s leading builder of luxury homes, today announced results for its fourth quarter ended October 31, 2024. FY 2024 ’s Fourth Quarter Financial Highlights (Compared to FY 2023 ’ s Fourth Quarter): Net income and earnings per share were $475.4 million and $4.63 per diluted share, compared to net income of $445.5 million and $4.11 per diluted share in FY 2023’s fourth quarter. Pre-tax income was $621.1 million, compared to $605.0 million in FY 2023’s fourth quarter. Home sales revenues were $3.26 billion, up 10% compared to FY 2023’s fourth quarter; delivered homes were 3,431, up 25%. Net signed contract value was $2.66 billion, up 32% compared to FY 2023’s fourth quarter; contracted homes were 2,658, up 30%. Backlog value was $6.47 billion at fourth quarter end, down 7% compared to FY 2023’s fourth quarter; homes in backlog were 5,996, down 9%. Home sales gross margin was 26.0%, compared to FY 2023’s fourth quarter home sales gross margin of 27.5%. Adjusted home sales gross margin, which excludes interest and inventory write-downs, was 27.9%, compared to FY 2023’s fourth quarter adjusted home sales gross margin of 29.1%. SG&A, as a percentage of home sales revenues, was 8.3%, compared to 8.2% in FY 2023’s fourth quarter. Income from operations was $611.1 million. Other income, income from unconsolidated entities, and gross margin from land sales and other was $44.5 million. The Company repurchased approximately 1.3 million shares at an average price of $150.19 per share for a total purchase price of $200.9 million. Full FY 2024 Financial Highlights (Compared to Full FY 2023 ): Net income was $1.57 billion, and earnings per share were $15.01 diluted, compared to net income of $1.37 billion and $12.36 per share diluted in FY 2023. Net income and earnings per share included $124.1 million and $1.19, respectively, related to the sale of a parcel of land to a commercial developer in our second quarter. Excluding this gain, net income and earnings per share were $1.45 billion and $13.82 per diluted share in FY 2024. Pre-tax income was $2.09 billion, compared to $1.84 billion in FY 2023. Home sales revenues were $10.56 billion, up 7% compared to FY 2023; delivered homes were 10,813, up 13%. Net signed contract value was $10.07 billion, up 27% compared to FY 2023; contracted homes were 10,231, up 27%. Home sales gross margin was 26.6%, compared to FY 2023’s home sales gross margin of 26.9%. Adjusted home sales gross margin, which excludes interest and inventory write-downs, was 28.4%, compared to FY 2023’s adjusted home sales gross margin of 28.7%. SG&A, as a percentage of home sales revenues, was 9.3%, compared to 9.2% in FY 2023. Income from operations was $2.04 billion. Other income, income from unconsolidated entities, and gross margin from land sales and other was $258.0 million. The Company repurchased approximately 4.9 million shares at an average price of $127.79 per share for a total purchase price of $627.9 million Douglas C. Yearley, Jr., chairman and chief executive officer, stated: “I am very pleased with our fourth quarter results, which cap the strongest year ever for Toll Brothers. For the full year, we generated a record $10.6 billion of home sales revenue, earned $15.01 per diluted share and grew contracts by 27% in both units and dollars. In the fourth quarter, we delivered 3,431 homes and generated $3.3 billion in home sales revenues, up 25% in units and 10% in dollars compared to last year’s fourth quarter. Our fourth quarter adjusted gross margin was 27.9%, beating guidance by 40 basis points, and our SG&A expense was 8.3% of home sales revenues, or 30 basis points better than guidance. Our strong margin performance and better than projected home sales revenues drove earnings of $4.63 per diluted share in the quarter, up 13% compared to last year. We also signed 2,658 net contracts at an average price of $1,000,000, up 30% in units and 32% in dollars compared to last year’s fourth quarter. Our performance this year and in the fourth quarter demonstrates the power of our luxury brand, the financial strength of our buyers, and the success of our strategies of increasing our spec home production and widening our geographies, price points and product lines. “Since the start of our fiscal 2025 six weeks ago we have seen strong demand, which is encouraging as we approach the beginning of the spring selling season in mid-January. We are well positioned with communities in over 60 markets across 24 states featuring the widest offering of luxury homes and serving the most affluent customers in our industry. Last year, we increased community count by 10% and are targeting a similar increase in fiscal 2025. We also owned or controlled approximately 74,700 lots at year end, providing sufficient land for further growth in fiscal 2026 and beyond. “In fiscal 2024, we generated a return on beginning equity of 23.1%, driven by our record earnings and strong cash flows that allowed us to return approximately $720 million of capital to shareholders. Our healthy balance sheet, low leverage, and ample liquidity, including significant projected cash flows from operations in fiscal 2025, should allow us to continue investing in our business while returning cash to shareholders well into the future.” Additional Information: The Company ended its FY 2024 fourth quarter with $1.30 billion in cash and cash equivalents, compared to $1.30 billion at FYE 2023 and $893.4 million at FY 2024’s third quarter end. At FY 2024 fourth quarter end, the Company also had $1.77 billion available under its $1.96 billion revolving credit facility, which is scheduled to mature in February 2028 . On October 25, 2024, the Company paid its quarterly dividend of $0.23 per share to shareholders of record at the close of business on October 11, 2024. Stockholders’ equity at FY 2024 fourth quarter end was $7.67 billion, compared to $6.80 billion at FYE 2023. FY 2024’s fourth quarter-end book value per share was $76.87 per share, compared to $65.49 at FYE 2023. The Company ended its FY 2024’s fourth quarter with a debt-to-capital ratio of 27.0%, compared to 27.6% at FY 2024’s third quarter end and 29.6% at FYE 2023. The Company ended FY 2024’s fourth quarter with a net debt-to-capital ratio (1) of 15.3%, compared to 19.6% at FY 2024’s third quarter end, and 17.7% at FYE 2023. The Company ended FY 2024’s fourth quarter with approximately 74,700 lots owned and optioned, compared to 72,700 one quarter earlier, and 70,700 one year earlier. Approximately 45% or 34,000, of these lots were owned, of which approximately 19,400 lots, including those in backlog, were substantially improved. In the fourth quarter of FY 2024, the Company spent approximately $258.6 million on land to purchase approximately 1,910 lots. The Company ended FY 2024’s fourth quarter with 408 selling communities, compared to 404 at FY 2024’s third quarter end and 370 at FY 2023’s fourth quarter end. (1) See “Reconciliation of Non-GAAP Measures” below for more information on the calculation of the Company’s net debt-to-capital ratio. Toll Brothers will be broadcasting live via the Investor Relations section of its website, investors.TollBrothers.com, a conference call hosted by chairman and chief executive officer Douglas C. Yearley, Jr. at 8:30 a.m. (ET) Tuesday, December 10, 2024, to discuss these results and its outlook for the first quarter and FY 2025. To access the call, enter the Toll Brothers website, click on the Investor Relations page, and select “Events & Presentations.” Participants are encouraged to log on at least fifteen minutes prior to the start of the presentation to register and download any necessary software. The call can be heard live with an online replay which will follow. ABOUT TOLL BROTHERS Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, insurance, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired CompaniesTM list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com. Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website (investors.TollBrothers.com). From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license. FORWARD-LOOKING STATEMENTS Information presented herein for the fourth quarter ended October 31, 2024 is subject to finalization of the Company’s regulatory filings, related financial and accounting reporting procedures and external auditor procedures. This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “can,” “could,” “might,” “should,” “likely,” “will,” and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: expectations regarding inflation and interest rates; the markets in which we operate or may operate; our strategic priorities; our land acquisition, land development and capital allocation priorities; market conditions; demand for our homes; our build-to-order and spec home strategy; anticipated operating results and guidance; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues, including expected labor and material costs; selling, general, and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire or dispose of land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; and the outcome of legal proceedings, investigations, and claims. Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties – and assumptions that are made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to: the effect of general economic conditions, including employment rates, housing starts, inflation rates, interest and mortgage rates, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, home components and labor; the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries; the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters; risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as Covid-19; federal and state tax policies; transportation costs; the effect of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects; the effect of potential loss of key management personnel; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our and our homebuyers’ confidential information or other forms of cyber-attack; and other factors described in “Risk Factors” included in our Annual Report on Form 10-K for the year ended October 31, 2023 and in subsequent filings we make with the Securities and Exchange Commission (“SEC”). Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. For a further discussion of factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section. Inventory at October 31, 2024 and October 31, 2023 consisted of the following (amounts in thousands): (1) Includes the allocated land and land development costs associated with each of our model homes in operation. Toll Brothers operates in the following five geographic segments, with operations generally located in the states listed below: North: Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Jersey, New York and Pennsylvania Mid-Atlantic: Georgia, Maryland, North Carolina, Tennessee and Virginia South: Florida, South Carolina and Texas Mountain: Arizona, Colorado, Idaho, Nevada and Utah Pacific: California, Oregon and Washington Note: Due to rounding, amounts may not add. Unconsolidated entities: Information related to revenues and contracts of entities in which we have an interest for the three-month and twelve-month periods ended October 31, 2024 and 2023, and for backlog at October 31, 2024 and 2023 is as follows: RECONCILIATION OF NON-GAAP MEASURES This press release contains, and Company management’s discussion of the results presented in this press release may include, information about the Company’s adjusted home sales gross margin, adjusted net income, adjusted diluted earnings per share and the Company’s net debt-to-capital ratio. These four measures are non-GAAP financial measures which are not calculated in accordance with generally accepted accounting principles (“GAAP”). These non-GAAP financial measures should not be considered a substitute for, or superior to, the comparable GAAP financial measures, and may be different from non-GAAP measures used by other companies in the home building business. The Company’s management considers these non-GAAP financial measures as we make operating and strategic decisions and evaluate our performance, including against other home builders that may use similar non-GAAP financial measures. The Company’s management believes these non-GAAP financial measures are useful to investors in understanding our operations and leverage and may be helpful in comparing the Company to other home builders to the extent they provide similar information. Adjusted Home Sales Gross Margin The following table reconciles the Company’s home sales gross margin as a percentage of home sales revenues (calculated in accordance with GAAP) to the Company’s adjusted home sales gross margin (a non-GAAP financial measure). Adjusted home sales gross margin is calculated as (i) home sales gross margin plus interest recognized in home sales cost of revenues plus inventory write-downs recognized in home sales cost of revenues divided by (ii) home sales revenues. The Company’s management believes adjusted home sales gross margin is a useful financial measure to investors because it allows them to evaluate the performance of our home building operations without the often varying effects of capitalized interest costs and inventory impairments. The use of adjusted home sales gross margin also assists the Company’s management in assessing the profitability of our home building operations and making strategic decisions regarding community location and product mix. Forward-looking Adjusted Home Sales Gross Margin The Company has not provided projected first quarter and full FY 2025 home sales gross margin or a GAAP reconciliation for forward-looking adjusted home sales gross margin because such measure cannot be provided without unreasonable efforts on a forward-looking basis, since inventory write-downs are based on future activity and observation and therefore cannot be projected for the first quarter and full FY 2025. The variability of these charges may have a potentially unpredictable, and potentially significant, impact on our first quarter and full FY 2025 home sales gross margin. Adjusted Net Income and Diluted Earnings Per Share Reconciliation The following table reconciles the Company’s net income and earnings per share (calculated in accordance with GAAP) to the Company’s adjusted net income and diluted earnings per share (a non-GAAP financial measure). Net Debt-to-Capital Ratio The following table reconciles the Company’s ratio of debt to capital (calculated in accordance with GAAP) to the Company’s net debt-to-capital ratio (a non-GAAP financial measure). The net debt-to-capital ratio is calculated as (i) total debt minus mortgage warehouse loans minus cash and cash equivalents divided by (ii) total debt minus mortgage warehouse loans minus cash and cash equivalents plus stockholders’ equity. The Company’s management uses the net debt-to-capital ratio as an indicator of its overall leverage and believes it is a useful financial measure to investors in understanding the leverage employed in the Company’s operations. CONTACT: Gregg Ziegler (215) 478-3820 gziegler@tollbrothers.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3a0456db-a1d7-41b3-b790-3e0a1448ad2bSenator Irfan Siddiqui, a PML-N leader who has also been appointed as the spokesperson of a government committee holding talks with the PTI, has said the government panel will only consider written demands of the PTI without paying heed to Imran Khan's or anybody else's statements. "Both the committees [belong to the PML- and the PTI] have decided to ignore external influences and statements in the process of the talks during its first meeting. Our negotiation committee will only consider written demands of the PTI," said Siddiqui. The PML-N leader was speaking to a private TV channel on Thursday. The senator said initiation of talks with the PTI and the formation of the government negotiation committee were approved by PML-N President Nawaz Sharif. He said the interior ministry was conveyed on the very first day to facilitate meetings between members of the PTI negotiating committee and PTI founder Imran Khan, who is detained at Rawalpindi's Adiala Jail. This facilitation will also continue in future, he added. "The atmosphere was very positive, and it was a great opening," Senator Siddiqui said when asked about the details of the first meeting. He said the mere act of the PTI and the PML-N sitting together is a major breakthrough. "Since the PTI has also been in the government, it knows very well the constitutional and legal requirements for getting someone out of jail by an executive order," he said. To a question about the Thursday conviction of 60 PTI workers by military courts and its potential impact on the dialogue process, he said both sides had agreed that the dialogue process will continue irrespective of the sentences or any other developments. "I don't think that the recent verdict of the military court will hamper the talks," he added. He also did not agree with the argument that keeping Imran Khan behind bars was a stumbling block in the talks. He said many prominent political leaders had served jail for a long time and yet the democratic process had never stalled. He rejected the impression that there was any political unrest in the country. "All the state organs are functioning according to constitutional harmony and economic indicators highlight this fact. There is absolutely no political instability in the country," he added. Senator Siddiqui thanked Imran Khan for his "recognizing" the government's efforts of saving the country from default and said that the efforts of PM Shehbaz Sharif and his team are so obvious that even Imran Khan is compelled to acknowledge. When asked about American diplomat Richard Allen Grenell's tweets and statements, Senator Siddiqui said Pakistan's policies are not framed on the basis of such posts. "He is a non-entity. The State of Pakistan decides issues according to the constitution and law of the land," he said. Meanwhile, PM Sharif appointed Senator Irfan Siddiqui as the spokesperson for the government's committee holding talks with the PTI. COMMENTS Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see ourThus far, Alabama has landed five transfers this offseason. Those five include defensive back Cam Calhoun, interior offensive lineman Kam Dewberry, defensive lineman Kelby Collins, linebacker Nikhai Hill-Green, and wide receiver Isaiah Horton. Each of them have an opportunity to come in and make an immediate impact for the Crimson Tide next season. Today, I will assess Alabama’s transfer portal haul up to this point in the offseason. The first thing that stands out to me is the fact that Alabama was able to land experienced transfers in power-four conferences. Each of the five transfers have valuable experience and have competed in larger conferences. Calhoun signed with Michigan coming out of high school but transferred to Utah after his first season. In 2024, Calhoun tallied 21 tackles, nine pass deflections, and one interception for the Utes. He will provide depth and experience in Alabama’s secondary. With starting cornerback Domani Jackson potentially turning pro, his role could be vital to Alabama’s success in the secondary. Dewberry was a key offensive lineman for Texas A&M in each of his three seasons in College Station. He made seven starts and played in 32 games for the Aggies. At 6-foot-4 and 330 pounds, Alabama could experiment with Dewberry at offensive tackle or offensive guard. He has the potential to play both for the Crimson Tide. Regardless of where he plays, I expect Dewberry to be an offensive starter in 2025. Collins is an Alabama native that returns to his home state with two years of experience at Florida. Alabama defensive line coach Freddie Roach played a key role in helping the Crimson Tide land Collins’ commitment the second time around. At 6-foot-4 and 278 pounds, Collins can play either defensive end or defensive tackle in Kane Wommack’s ‘SWARM’ defense. In two seasons in the Swamp, Collins recorded 29 tackles, 1.5 sacks, and one forced fumble. He will bey a key player up front for Alabama in 2025. Hill-Green is the most experienced transfer that Alabama has landed this offseason. The Maryland native spent two seasons at Michigan, one season at Charlotte, and this past season at Colorado. Altogether, he has recorded 206 total tackles, eight pass deflections, and four sacks. He could be Jihaad Campbell’s replacement at inside linebacker with Campbell expected to depart for the NFL. Regardless, he will have an opportunity to see the field early and often next season. Horton might be the most valuable transfer addition so far this season. With Alabama losing four wide receivers to the transfer portal, his presence will be welcoming for the Crimson Tide in 2025. Horton spent three seasons at Miami before transferring to Alabama. During those three seasons, Horton reeled in 70 receptions for 790 yards and six touchdowns. At 6-foot-4, Horton could pose a deep ball threat and become a reliable target for whoever Alabama starts at quarterback next season. Overall, I am pleased with the players that Alabama’s coaching staff has brought in through the transfer portal. I feel like each of the transfers bring something valuable to the team. The other positions that I believe Alabama will need to add depth and talent at are safety, offensive tackle, and kicker. Those are positions that could use some proven talent and experience as the Crimson Tide look to turn things around in 2025. This article first appeared on Touchdown Alabama Magazine and was syndicated with permission.
Lions waive Pro Bowl linebacker ahead of Week 17 matchup with 49ersTORONTO — Shoppers flocked to malls on Thursday to take advantage of Boxing Day deals made more enticing by the federal government’s GST holiday, but some say the lower prices aren’t enough to keep up with the country’s cost of living. For two months, a slew of items including children’s toys, video games and consoles, snacks, wine and restaurant food are GST- or HST-free, depending on the province. The tax break has incentivized some consumers to take advantage of Boxing Day sales at their local retailers. Nakul Singal said he came to Fairview Mall in Toronto on Thursday morning with his partner to hunt for deals. "Every year, we generally get good deals,” said Singal, who added he’d been waiting for Boxing Day to get new earphones. “It’s good to shop around during this time.” He added that while the tax break has helped his family with food prices, he would like the government to do more to help Canadians with the high costs of living, especially housing. “I hope that they could stop inflation,” he said. “We are struggling right now." The vice-president of federal government relations for the Retail Council of Canada, Matt Poirier, told The Canadian Press last week that Boxing Day in particular is expected to get a boost amid the temporary break. However, he said businesses, including ones with older payment systems, have faced hurdles trying to implement the tax break on short notice and even figuring out which items qualify. An RBC Economics report from earlier this month showed retail spending slowed in November, with holiday spending slightly below 2023 levels over the Black Friday weekend. Spending on hobbies, toys and games scaled back notably after Nov. 21, wrote RBC economist Carrie Freestone — the day the tax break was announced. "Typically, spending on popular children’s gifts builds as the holiday season approaches," wrote Freestone. But even with November's decline, Canada is likely on track for a slight uptick in per-person retail spending in the fourth quarter for the first time since mid-2022, she wrote. Joey Comia-Orellano, an assistant store manager at a GameStop in north Toronto, said the store has seen an influx of customers since the tax break was announced. Shoppers have been eager to benefit from the tax holiday, he said. “We’ve been getting shoppers before Boxing Day,” he said. Comia-Orellano added that he expects the store to get busier on Thursday as consumers look to save with Boxing Day deals combined with the tax break. “I did notice a lot of people buying more games, a lot of controllers, and definitely a lot of consoles, too," he said. Meanwhile, Raj Jeetu, another shopper at Fairview Mall on Thursday, said while he has already taken advantage of the tax break at restaurants multiple times, he’s skeptical of what it will do for Canadians in the long-term. “I don’t know if it’ll help much. I guess the prices really need to come down,” he said. For Comia-Orellano, one thing he has heard from customers is that while the tax break and Boxing Day deals might not help with the overall affordability crisis, it’s still worthwhile for savings. “It's necessary, it gets hard around the holidays,” he said. “This is almost like a small break for people when it comes to taxes, so not necessarily making things a little bit more affordable." This report by The Canadian Press was first published Dec. 26, 2024. Rianna Lim, The Canadian Press
Manmohan Singh's father may have believed his bookworm son would one day lead India, but the understated technocrat with the trademark blue turban, who died Thursday at the age of 92, never dreamed it would actually happen. Singh was pitchforked into leading the world's largest democracy in 2004 by the shock decision of Congress leader Sonia Gandhi to turn down the role after leading the party to an upset win over the ruling Hindu nationalists. He oversaw an economic boom in Asia's fourth-largest economy in his first term, although slowing growth in later years marred his second stint. Known as "Mr Clean", Singh nonetheless saw his image tarnished during his decade-long tenure when a series of corruption cases became public. As finance minister in the early 1990s, he was hailed at home and abroad for initiating big-bang reforms that opened India's inward-looking economy to the world. Known as a loyalist to the Gandhi political dynasty, Singh studied economics to find a way to eradicate poverty in the vast nation and never held elected office before becoming PM. But he deftly managed the rough and tumble of Indian politics -- even though many said Sonia Gandhi, the Italian-born widow of the assassinated Rajiv Gandhi, was the power behind the throne. Born in 1932 in the mud-house village of Gah in what is now Pakistan, Singh moved to the holy Sikh city of Amritsar as a teenager around the time the subcontinent was split at the end of British rule into mainly Hindu India and Muslim Pakistan. His father was a dry-fruit seller in Amritsar, and he had nine brothers and sisters. He was so determined to get an education he would study at night under streetlights because it was too noisy at home, his brother Surjit Singh told AFP in 2004. "Our father always used to say Manmohan will be the prime minister of India since he stuck out among the 10 children," said Singh. "He always had his nose in a book." Singh won scholarships to attend both Cambridge, where he obtained a first in economics, and Oxford, where he completed his PhD. He worked in a string of senior civil posts, served as a central bank governor and also held various jobs with global agencies such as the United Nations. Singh was tapped in 1991 by then Congress prime minister P.V. Narasimha Rao to reel India back from the worst financial crisis in its modern history -- currency reserves had sunk so low the country was on the brink of defaulting on foreign loans. Singh unleashed sweeping change that broke sharply with India's Soviet-style state-directed economy. In his first term he steered the economy through a period of nine-percent growth, lending the country the international clout it had long sought. He also sealed a landmark nuclear deal with the US that he said would help India meet its growing energy needs. But by 2008 there was growing disquiet among the ruling alliance's left-leaning parties about the pact, while high inflation -- notably food and fuel prices -- hit India's poor hard. Still, voters remained drawn to his calm, pragmatic persona, and in 2009 Congress steered its alliance to a second term. Singh vowed to step up financial reforms to drive economic growth, but he came under increasing fire from critics who said he had done nothing to stop a string of corruption scandals on his watch. Several months before the 2014 elections, Singh said he would retire after the polls, with Sonia Gandhi's son Rahul earmarked to take his place if Congress won. But Congress crashed to its worst-ever result at that time as the Hindu-nationalist Bharatiya Janata Party, led by Narendra Modi, won a landslide. More recently, an unflattering book by a former aide titled "The Accidental Prime Minister" portrayed him as timid and controlled by Sonia Gandhi. Singh -- who said historians would be kinder to him than contemporary detractors -- became a vocal critic of Modi's economic policies, and more recently warned about the risks that rising communal tensions posed to India's democracy. pmc-grk/abh/fox/leg/sms