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The San Francisco 49ers will start Brandon Allen at quarterback Sunday against the Green Bay Packers in place of an injured Brock Purdy , coach Kyle Shanahan said Friday. Shanahan said star defensive end Nick Bosa also will miss the game with injuries to his left hip and oblique. Left tackle Trent Williams is questionable with an ankle injury and will be a game-time decision. This will be the first time Purdy has missed a start because of an injury since taking over as the 49ers' quarterback in December 2022. Editor's Picks 49ers' 36-game favorite streak in jeopardy 35m Doug Greenberg Torn PCL could sideline Packers' Alexander longer 23h Rob Demovsky Allen has started nine regular-season games since entering the league as a sixth-round pick of the Jacksonville Jaguars in 2016. Three of those starts were for the Denver Broncos in 2019, with the other six for the Cincinnati Bengals in 2020 and 2021. He has been with the 49ers since 2023 and has yet to start a game in San Francisco but has been running the scout team against the defense for much of that time. Purdy, who is dealing with soreness in his right (throwing) shoulder, has been limited in practice this week. He first appeared on the injury report Monday when Shanahan discussed injuries coming out of Sunday's loss to the Seattle Seahawks . Shanahan said then that Purdy would be considered day-to-day because of the shoulder injury. Joshua Dobbs will be the backup on Sunday. Information from ESPN's Nick Wagoner and The Associated Press was included in this report.Dell Technologies Stock Gets RS Rating Lift
Jeannette Neumann | (TNS) Bloomberg News The Nordstrom family is joining forces with a Mexican retailer to take its namesake department store private in an all-cash transaction valued at about $6.25 billion, including debt. Related Articles Business | New shoplifting data explains why they’re locking up the toothpaste Business | Netflix is airing 2 NFL games on Christmas Day. Here’s what to know Business | Biden will decide on US Steel acquisition after influential panel fails to reach consensus Business | For some FSA dollars, it’s use it or lose it at year’s end Business | American Airlines flights resume at Bradley International Airport after FAA halts them The founding family is betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market after shares in Nordstrom Inc. plunged 40% in the last five years. During the same period, the S&P 500 rose 84%. As part of the transaction, which is expected to close in the first half of 2025, the family and Mexican department-store chain El Puerto de Liverpool SAB will acquire all of the outstanding common shares of Nordstrom. The Nordstrom family will have a majority ownership stake in the company of 50.1%, with Liverpool owning 49.9%. Nordstrom common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold under the terms of the agreement, the company said Monday. That’s roughly in line with where shares were trading on Monday. Shares in Nordstrom fell as much as 1.3% on Monday in New York. The company’s stock was up 33% so far this year as of Friday’s close as reports of a take-private deal boosted the stock price. The board’s acceptance of the offer underscores Nordstrom’s decline from its peak and its subdued growth prospects. In 2018, the board rejected the family’s bid to take the company private at $50 per share as too low. Nordstrom’s annual revenue, including income from credit cards, peaked at $15.9 billion in the fiscal year ended February 2019. The company was hit hard by Covid-19 and has never returned to its pre-pandemic highs. Nordstrom is expected to report $14.9 billion in total revenue at the end of the current fiscal year, according to a Bloomberg survey of analysts. Other department-store chains in the U.S. have also struggled as shoppers pivot to online competitors such as Amazon.com Inc., or brand-specific stores such as Louis Vuitton. Executives at Macy’s Inc., for example, are shrinking the company’s store fleet to cut costs, while the owners of Saks Fifth Avenue bought Neiman Marcus Group earlier this year. During the past couple of years, investors had hoped that Nordstrom Rack, its off-price chain, could help buoy the company’s growth prospects and compensate for sluggish sales at the more upscale flagship chain. Shoppers flocked to competitors such as TJ Maxx, seeking deals as inflation soared post-pandemic. But Rack’s performance has been spotty. It stumbled when executives tweaked their strategy and stopped offering as many high-end fashion brands at a discount. Rack reversed course and sales have bounced back. Company executives have focused on opening more Rack stores in recent quarters, boosting revenue. In November, Nordstrom raised the lower end of its annual sales guidance after revenue was better than expected at Rack and the flagship chain. But the outlook is still weak, highlighting the attraction of going private: The company is forecasting that annual sales, including credit-card revenues, will be flat to up 1% versus last year. The take-private deal will be financed through a combination of rollover equity by the Nordstrom family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion ABL bank financing, and company cash on hand. The board also intends to pay a special dividend of up to 25 cents a share in cash contingent on the deal closing. The transaction must be approved by holders of two-thirds of the company’s common stock shareholders and the holders of a majority of the shares not owned by the Nordstrom family or Liverpool. Erik and Peter Nordstrom, who are members of the company’s board, recused themselves from the vote, which unanimously approved the transaction. “On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future,” said Erik Nordstrom, chief executive officer of Nordstrom. Liverpool, run by descendants of a French shareholder group that dates back more than a century, is one of Mexico’s most important department store chains, with an ornate flagship location in the capital’s historic center. The $7 billion publicly-traded company has ventured beyond Mexico in recent years, acquiring a stake in Latin American retail operator Unicomer in 2011 and attempting unsuccessfully to acquire control of Chile’s Ripley SA in 2015 before turning its eyes to the U.S. with the Nordstrom investment. Max David Michel, part of Liverpool’s founding family and one of the richest people in the country, retired as head of Liverpool’s board earlier this year. (Updates to include what stock is trading at versus the offer price.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
Published 4:38 pm Monday, December 23, 2024 By Sarah Stultz Families and students gave overall positive responses regarding their desired daily experiences while in school, while staff responses were ultimately in favor, though not as strong, according to data from a recent survey conducted in the Albert Lea school district. Tonya Franks, executive director of academics and accountability for the district, said the daily desired experiences were identified as part of the district’s strategic planning work. The district conducted its first survey about the experiences in 2022 and is conducting annual surveys of students, families and staff to see how the groups feel those experiences are being met. For the student portion, the survey was given out to students in grades six through 12, and over 800 responded, Franks said. The goal overall with the survey was to have at least 60% in the agree or strongly agree categories and below 10% in the strongly disagree or disagree categories. For students, the most positive response came in a question about if the school offers a variety of activities where they have opportunities to try new things and grow when 70.5% said they agreed or strongly agreed. Sixty-nine percent also said they agreed or strongly agreed that they are safe in the school. Sixty-seven-and-a-half percent said they thought their teachers supported and valued them, while 67.3% agreed that they have access to resources and feel their needs are met. When asked if they are recognized and appreciated, 57.6% answered that they agreed or strongly agreed. Only one question came back higher than 10% disagreeing or strongly disagreeing and that was a question that asked if the students were having fun completing engaging activities about interesting topics to help them learn in class. Most of the questions had between 23% and 33% in the “neutral” category. Franks said the data was being distributed to the individual buildings for further study and for principals to review with their staff. Once the baseline was determined, then they could set goals to achieve in the future. Family responses were more favorable with all questions receiving 60% in the agree or strongly agree categories and all below 10% for the disagree or strongly disagree categories. She said families feel their children are physically and emotionally safe, that their schools are welcoming and that they have resources to meet their child’s needs and are appropriately challenged. Out of about 3,500 students enrolled in the district, they received back 388 family responses. Families with multiple children were asked to fill out the survey for each child. About 68% of the responses were from elementary school families. Board member Gary Schindler said he was happy to see that parents and families feel their students are safe. About 88% agreed or strongly agreed that their child’s school was welcoming to all students, while only 3.9% disagreed or strongly disagreed. About 84% agreed or strongly agreed that their child is physically and emotionally safe, and 86.6% answered that their child’s classroom is an engaging, orderly and productive learning environment. The lowest response was 77.5% agreed or strongly agreed that they are connected and have a partnership with their child’s school. Staff responses as a whole were less favorable than the family and student responses, with three questions below the 60% threshold for agreeing or strongly agreeing, and five questions above the 10% threshold for disagreeing or strongly disagreeing. About 67% said they agreed or strongly agreed that they work in a safe and orderly school, while 11.4 disagreed or strongly disagreed. Less than 52% said they agreed or strongly agreed that they had the resources and time to perform their job duties effectively. Almost 32% disagreed or strongly disagreed. Fifty-seven percent of staff agreed or strongly agreed that their students’ social and emotional needs are supported, while 21.7% disagreed or strongly disagreed. Only 46.2% agreed or strongly agreed that the communication from the district and building administration is consistent, timely and relevant, with 27.7% disagreeing or strongly disagreeing. Schindler said he appreciates surveys as they help identify things they can celebrate, as well as things they need to work on. He said he was glad to see a high response from staff about a collaborative workplace but noted the disconnect between how the students and the families are feeling in some categories and how the staff responded. Franks said the survey results would be placed on the principal leadership agenda for January for further follow-up. They will discuss some of the highest needs that came from the surveys and said they will help guide decisions for continuous improvement in the future. Updates would be presented to the school board in the spring.