I f you live in an English-speaking Caribbean country, do you consider yourself freer and more fortunate than many others around the world? In a world where freedoms are under siege—where journalists are imprisoned, political dissent is silenced, persons are jailed without trial, and religious leaders are persecuted—residents of the Commonwealth Caribbean enjoy liberties that are envied by many. Our nations stand as beacons of democracy and freedom. Yet, how often do we stop to reflect on the freedoms we enjoy? These rights are not only the foundation of individual dignity but also the pillars of national prosperity. And while we may take them for granted, they are far from guaranteed elsewhere in the world. Globally, the situation is dire. Over 320 journalists are imprisoned worldwide, according to the Committee to Protect Journalists. Thousands of political prisoners languish in detention for dissenting against oppressive regimes, while organisations like Open Doors document the persecution of religious leaders in several countries including Nicaragua and Iran. These grim realities highlight the freedoms that many in the world do not have. In contrast, the Commonwealth Caribbean is free of these injustices. Journalists work without fear of imprisonment, citizens practise their faiths openly, and political prisoners are not a feature of our democracies. Nations like Jamaica, Barbados, and Trinidad and Tobago rank among the freest in the world, supported by robust legal protections, free elections, and dynamic press freedoms. Antigua and Barbuda is also classified as “free” in Freedom House’s 2024 Freedom in the World Report, scoring 85 out of 100, with strong ratings in the categories of Political Rights and Civil Liberties. These freedoms are not only moral imperatives but also drivers of economic growth, as studies show that democratic nations achieve higher and more sustainable prosperity. Recognising shared responsibilities While the Commonwealth Caribbean has much to celebrate, freedoms are fragile and must be actively nurtured. This is a collective responsibility shared by governments, opposition parties, and citizens alike. As Nelson Mandela reminded us, “Freedom is indivisible; the chains on any one of my people were the chains on all of them.” Protecting freedom requires building strong institutions, ensuring transparency, and fostering accountability at every level of governance. You Might Be Interested In Shoring up good ideas I resolve to... Wellness for life: The importance of self-care Political parties play a critical role in this process. Governments must lead with integrity, adhering to truth and transparency to earn and sustain the trust of their people. Policies and decisions should be presented with clarity, grounded in reasoned argument and tangible benefits. At the same time, opposition parties must fulfil their responsibility to hold governments accountable constructively. This involves proposing viable alternatives and engaging in critiques that strengthen democratic institutions rather than undermine them. The misuse of freedoms to promote disinformation, spread division, or serve narrow political purposes undermines the very liberties that are central to democracy. This applies equally to all political actors. Democracy thrives when governments and opposition parties alike act in the public interest, building consensus and advancing shared goals. Better conditions demand action when rights are violated elsewhere Caribbean citizens, too, have a role to play. While it is their right to demand better services, it is important to recognise the financial, economic, and trade constraints faced by small, open economies. Governments must be held accountable for improving public services, but citizens must also balance these demands with an understanding of the broader challenges. Few stop to consider how much better off they are compared to those in conflict zones or under authoritarian regimes. This perspective does not excuse inefficiency or lack of accountability, but it encourages a responsible conversation about priorities, shared responsibilities, and the collective effort required to sustain freedoms and development. The stark realities of imprisoned journalists, political prisoners, and persecuted religious leaders globally should serve as a wake-up call to value and protect the freedoms enjoyed in the Caribbean. These freedoms are rare and precious. Internationally, the Caribbean also has a moral responsibility to champion these freedoms. The region’s leadership in organisations like the United Nations and the Organisation of American States should serve as an example of how small, free nations can amplify the principles of democracy and human rights. As Martin Luther King Jr warned us, “Injustice anywhere is a threat to justice everywhere.” That is why we must be mindful of the disastrous effects of corruption, weakened institutions, and the disregard for democratic practices in Haiti. These challenges have led to social and political instability, fostering lawlessness and human suffering. We must also remain deeply concerned about the immense suffering caused by conflicts around the world. In Sudan, a devastating war has claimed approximately 150 000 lives and displaced millions, leaving people to face starvation and disease. In the Democratic Republic of Congo, ongoing violence in the Kivu region has resulted in mass killings and the displacement of millions. These tragedies, alongside the war in Ukraine and the conflict between Israel and Palestinian groups, including the decimation of Gaza, remind us of the fragility of peace and the devastating cost of injustice. A collaborative call to action As free nations, we cannot ignore the suffering of others. These crises have shattered lives, undermined freedoms, and inflicted untold hardship. They demand our attention and our advocacy for a world where the rights and dignity of all people are protected. The freedoms enjoyed by the people of the Commonwealth Caribbean are the result of generations of struggle and sacrifice, from the abolition of slavery and the termination of indentured labour to the fight for independence. They are not self-sustaining; they require vigilance, courage, and a commitment to principles. Free, fair, and transparent elections must remain the bedrock of our democracies, and institutions that protect freedoms must be fortified. This is not just the responsibility of governments but of all who call these countries home. Sir Ronald Sanders is Antigua and Barbuda’s Ambassador to the US and the OAS. The views expressed are entirely his own.Ignorance and Bliss: On Wanting Not to Know by Mark Lilla review – the enduring power of stupidity
Net sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Balance Sheet and Cash Flow Highlights Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Third Quarter 2024 2023 Old Navy — % 1 % Gap 3 % (1) % Banana Republic (1) % (8) % Athleta 5 % (19) % Gap Inc. 1 % (2) % Old Navy: Gap: Banana Republic: Athleta: Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Current FY24 Outlook Prior FY24 Outlook FY23 Results Net sales Up 1.5% to 2.0% on a 52-week basis Up slightly on a 52-week basis $14.9 billion 1 Gross margin Approximately 220 bps expansion Approximately 200 bps expansion 38.8 % Operating expense Approximately $5.1 billion Approximately $5.1 billion $5.17 billion (adjusted) 2 Operating income Mid to High 60% growth range Mid to High 50% growth range $606 million (adjusted) 3 Effective tax rate Approximately 26.5% Approximately 28% 9.7 % Capital expenditures Approximately $500 million Approximately $500 million $420 million 1 Fiscal year 2023 consisted of 53 weeks and the extra week drove approximately $160 million of incremental sales. 2 Fiscal year 2023 adjusted operating expense of $5.17 billion excludes $89 million in restructuring costs and a $47 million gain on sale. 3 Fiscal year 2023 adjusted operating income of $606 million excludes $93 million in restructuring costs and a $47 million gain on sale. Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com The Gap, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED ($ in millions) November 2, 2024 October 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,969 $ 1,351 Short-term investments 250 — Merchandise inventory 2,331 2,377 Other current assets 580 646 Total current assets 5,130 4,374 Property and equipment, net of accumulated depreciation 2,546 2,552 Operating lease assets 3,217 3,200 Other long-term assets 960 926 Total assets $ 11,853 $ 11,052 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,523 $ 1,433 Accrued expenses and other current liabilities 1,135 1,078 Current portion of operating lease liabilities 617 604 Income taxes payable 50 24 Total current liabilities 3,325 3,139 Long-term liabilities: Long-term debt 1,489 1,488 Long-term operating lease liabilities 3,360 3,456 Other long-term liabilities 544 509 Total long-term liabilities 5,393 5,453 Total stockholders' equity 3,135 2,460 Total liabilities and stockholders' equity $ 11,853 $ 11,052 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except per share amounts) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 3,829 $ 3,767 $ 10,937 $ 10,591 Cost of goods sold and occupancy expenses 2,194 2,211 6,322 6,488 Gross profit 1,635 1,556 4,615 4,103 Operating expenses 1,280 1,306 3,762 3,757 Operating income 355 250 853 346 Interest, net (6) — (12) 8 Income before income taxes 361 250 865 338 Income tax expense 87 32 227 21 Net income $ 274 $ 218 $ 638 $ 317 Weighted-average number of shares - basic 377 371 376 369 Weighted-average number of shares - diluted 383 375 383 373 Earnings per share - basic $ 0.73 $ 0.59 $ 1.70 $ 0.86 Earnings per share - diluted $ 0.72 $ 0.58 $ 1.67 $ 0.85 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED 39 Weeks Ended ($ in millions) November 2, 2024 (a) October 28, 2023 (a) Cash flows from operating activities: Net income $ 638 $ 317 Depreciation and amortization 371 394 Gain on sale of building — (47) Change in merchandise inventory (344) (5) Change in accounts payable 156 133 Other, net
Roma lineup vs. Spurs: Predicted XI for Europa League encounter at Tottenham Hotspur StadiumThe lawyer whose organisation forced the United Kingdom’s Electoral Commission to re-open its investigation into Brexit campaign spending has a warning for New Zealand ahead of a potential referendum on Treaty principles. Good Law Project, co-founded by Jolyon Maugham, challenged the commission’s decision to drop an investigation into whether Vote Leave, the official campaign arguing for the UK to leave the European Union, spent more than its £7 million campaign limit in the 2016 vote. The re-kindled investigation found multiple breaches, and the commission fined Vote Leave £61,000. (Leave triumped over Remain 51.9 percent to 48.1 percent in a referendum marred by what former Conservative Prime Minister John Major called “fiction and undeliverable promises”.)Yankees have discussed Alex Bregman's availability with agent Scott Boras
Protests Against Pro-Russian Romanian Presidential Candidate Spread Beyond Bucharest
Steady Growth in Recycled Metal Market: 3.6% CAGR and USD 1.1 Billion Value by 2031 | TMRThe MFA in Visual Arts at Purchase College, State of New York (SUNY), is a small, selective interdisciplinary program that fosters the artistic, intellectual, and professional growth of students through independent studio work and rigorous academic studies. State-of-the-art facilities include photography, video, and digital labs; wood and metal shops; sound art studios; and printmaking and letterpress studios. Nearby, the vast art communities in New York City play a crucial role in curricular and extracurricular activities. The 2025 thesis show will take place at PS122 Gallery in Manhattan. For students interested in developing teaching skills, we offer paid opportunities to teach undergraduates and develop courses based on individual expertise. Dual Degree Option The MFA/MA degree combines the MFA degree with an MA in Visual Art and Modern and Contemporary Art, Criticism, and Theory, with the art history requirements completed in a third year of study. Enriching their experience, students have access to the Neuberger Museum of Art, Purchase College’s campus museum and the eighth largest university museum in the country; a renowned Performing Arts Center; and opportunities for community engagement throughout the United States. Housing Fellowships and Scholarships Founded in 1967, Purchase College was created to provide students from all backgrounds with access to affordable, high-quality arts education. We remain committed to that mission today: In-state tuition is $13,256 ($25,506 for out-of-state students), along with considerable scholarships, full housing aid for qualified students, and teaching stipends. A Vibrant Community of Makers and Thinkers Graduate students are mentored by renowned working artists in diverse disciplines, from traditional materials to cutting-edge technology. Faculty include Sharon Horvath, Rob Swainston, Kate Gilmore, Cynthia Lin, Liz Flood, Stella Ebner, Hakan Topal, Rachel Owens, Joshua Lutz, Lachell Workman, Katie Murray, Adam Pape, Timothy Briner, Amanda Thackray, Brooke Singer, Max Ferro, Georgina Arroyo, Dave Walsh, Virginia Wagner, Esteban Cabeza de Baca, Travis Fairclough, and Tova Snyder. Students also receive frequent critiques as part of a robust visiting artist and curator lecture series. Recent visitors include Elle Pérez, Fred Wilson, Katherine Bradford, James Welling, Hank Willis Thomas, Latoya Hobbs, Tomashi Jackson, Guadalupe Maravilla, Clarity Haynes, Mark Dion, and Chie Fueki. Contact admissions@purchase.edu for application information and apply online at purchase.edu . Get in touch with Julian Kreimer, MFA Chair, at julian.kreimer@purchase.edu for further details. Share Copied to clipboard Mail Bluesky Threads LinkedIn Facebook
Business Don't miss out on the headlines from Business. Followed categories will be added to My News. The Franchise Council of Australia’s loss for the past financial year blew out by more than $1.2m, with the organisation also losing its chief executive after less than a year following complaints to the board. Chair Richard Thame, who himself has only been in the position since the resignation of previous chair Brendan Green in September, has written to members in recent days, calling for unity and saying the board will give more clarity on the organisation’s path to a sustainable footing at its annual general meeting to be held late on Thursday. The annual report for the organisation, which represents 425 franchise owners nationwide, shows its loss rocketed from $85,460 in FY23 to $1.35m in FY24. The financial report included a “going concern” statement from the organisation’s auditors, given its plunge from $667,871 in member equity to negative $683,169 over the course of the year, and negative cash flow of $444,938. The Council had only $170,683 in cash at the end of the most recent financial year. “The group’s ability to continue as a going concern is dependent upon its future profitability, continued financial support from the Australian Taxation Office, and the company raising new funds from the members, if required,’’ accounting firm DFK International said in its going concern statement. Jayson Westbury has taken over at the Franchise Council of Australia after the previous CEO left in April. Picture:Justin Lloyd. The preface to the financial report recognises the challenges faced by the organisation. “It is very clear that the FCA has faced some significant financial headwind during the financial year of 2024 and while the results do show a loss, it is important to report that direct and deep decisions have been made to arrest the loss and place the FCA on a strong footing for the future,’’ the report says. Mr Thame, in his letter to members, said mistakes had been made, and he wanted to address the “serious concerns raised regarding the performance of the organisation and our recent challenges’’. “The past year has been a difficult chapter for the FCA, marked by significant financial strain, decisions that did not meet member expectations, and the need to rebuild trust in our leadership,’’ he wrote. Mr Thame said the board is charged with recruiting a chief executive and to “provide the CEO with the space to implement agreed strategies, monitor their progress, and intervene when necessary. “In the case of our former CEO, the board approved an ambitious strategy designed to grow the FCA. “While some good progress was made, this strategy was not executed well and resulted in unacceptably high staff turnover and significant cost over-runs. “When it became apparent that the CEO’s approach was not delivering the desired outcomes, the board acted to end his tenure and took the necessary steps to reset the cost base of the organisation.’’ Former chief executive Matthew Monaghan was hired in May 2023, but left for “personal reasons” in April of this year. It was later revealed in media reports that he left after two complaints about him were made to the board. Mr Monaghan was one of five people who have led the organisation in a permanent or acting role since 2022. Mr Thame says in his letter that “The board acted on information that was available at the time’’. “With the benefit of hindsight, we acknowledge that the board could have acted sooner. “It is important to recognise that the board did have a legal and ethical obligation to follow a process of procedural fairness and took steps to thoroughly and independently investigate concerns raised by staff, members and suppliers.’’ Mr Thame’s letter says the over-run in the organisation's expenses in FY24 “largely relates to employment cost and includes redundancy, restructuring cost and the settlement of outstanding claims’’. “I am pleased to report that the financial position of the FCA has improved in the five months since the financial year end. More details will be provided at the upcoming AGM.’’ Mr Thame called for unity from members, and said the directors, who worked for free, took their responsibility very seriously. “We hear and respect the criticism from members and understand the calls for greater accountability and transparency. “I can assure you that each and every director on the board during the time these losses were incurred, as well as those on the current board, remain committed to restoring the FCA to a position of strength,’’ he said. The FCA appointed Jayson Westbury as its new chief executive in September. Four years ago Mr Westbury left a previous role as chief executive of the Australian Federation of Travel Agents after saying A Current Affair host Tracy Grimshaw “needs to be given a firm uppercut or a slap across the face, and I mean that virtually, of course. I wouldn’t want to invoke (sic) any violence on anyone.” Grimshaw and ACA had outed unscrupulous travel companies, including Flight Centre, which had hit travellers with large cancellation fees in the wake of coronavirus travel bans. A statement from AFTA at the time said Mr Westbury resigned because of his comments, which he recognised were “inappropriate and unacceptable in any circumstances”. “My comments relating to Ms Grimshaw involved a very poor choice of words. I apologise for that choice and accept the language used was completely inappropriate,” Mr Westbury said at the time. Mr Thame declined to comment further about the FCA’s turnaround plans before the Thursday AGM. 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I Found All the Best Black Friday Fashion Deals to Shop RNFour new writers were inducted into the Carlos Palanca Memorial Awards for Literature Hall of Fame during its 72nd awards night held on Friday night, at the Philippine International Convention Center. With the addition of this year’s honorees, the Hall now boasts 30 members, a testament to the rigorous standards and high caliber of the competition. Among this year’s new hall of famers is Eros Atalia, an acclaimed writer who first bagged his first Palanca win in 2006 for his Maikling Kwento “Si Intoy Syokoy ng Kalye Marino.” Known for his other winning works such as “Tatlong Gabi, Tatlong Araw” and “Ang Ikatlong Anti-Kristo,” Atalia continued his winning streak this year with “Thirty Virgins,” which won in the Nobela category. Political communications strategist Mikael de Lara Co also clinched his spot in the Hall. This year, his “Panayam sa Abo” earned him the first prize in the Tula category. Another literary luminary, Miguel Antonio Alfredo Luarca has consistently pushed the boundaries of Philippine theater with his innovative narratives. His first-prize win in the Full-Length Play category for “Corridors” and a second-prize finish for “The Impossible Dream” in the One-Act Play category highlight his versatility and skill in stagecraft. Also joining this year’s honorees is Joshua Lim So, one of the youngest inductees into the Hall of Fame. So’s dynamic storytelling continues to capture attention, with his latest work, “Pagkapit sa Hangin,” winning first prize in the Dulang May Isang Yugto category. The awards night was not only a celebration of these literary giants but also a platform to recognize emerging talent. A total of 54 individuals were honored across four divisions: kabataan, English, Filipino, and regional languages. Of these, 31 were first-time winners, representing approximately 57 percent of the roster. Across 22 categories, the winners were chosen by a panel of 63 judges, emphasizing the competition’s inclusivity and commitment to excellence. This year’s awardees ranged from 14 to 78 years old, further illustrating the Palanca Awards’ role in fostering talent across generations. Voice to the voiceless The challenge of storytelling, according to filmmaker and Palanca Hall of Famer Jun Robles Lana, lies in the responsibility writers to give a voice to the marginalized and bring to light the stories that often go untold. As he shared during his guest of honor speech, the task of writing is deeply tied to advocating for those who have been silenced by society. “We write by bringing the silence and giving a voice to the voiceless, to those who have been marginalized and forgotten, those who struggle in the shadows, unseen and unheard,” he said. For the filmmaker, writing involves an ongoing process of personal struggle and growth. “And maybe that is the best that I can hope... for all being writers... That you will just always have what you believe in, regardless of personal choices made in your youth, the work that got negative reviews, the difficulty of getting that food into that all-important home,” he added. At its core, Lana believes that writing is about shedding light on the hidden truths of society—even when doing so may not be easy. “We write by illuminating the stories that would otherwise be kept in the dark, no matter how challenging, no matter how uncomfortable,” he said. Considered the gold standard of Filipino literary recognition, the Palanca Awards have been celebrating the excellence of thousands of Filipino writers since its establishment in 1951. Image credits: Justine Xyrah Garcia/BM
Trump's tariff threat a grim reminder of turbulent trade in first administrationA burden has been lifted off Lora Wood’s shoulders. Lora Wood was one of 39 people who had non-violent convictions pardoned by President Joe Biden on Dec. 12, 2024. For 20 years, the 39-year-old Maxwell, Nebraska resident has been living under the pall of having been convicted of a felony. That limited her career opportunities. It also made her unable to own a firearm, which, as a livestock farmer, created difficulty at times. Wood was one of 39 people who had their non-violent convictions pardoned by U.S. President Joe Biden on Thursday. Biden also commuted the sentences of close to 1,500 people. Wood’s pardon stems from 2004, when she pleaded guilty to possession of methamphetamine with intent to distribute. Wood said when she was 19, she got involved with the wrong guy. Wood served one year in federal prison in Illinois and four years under supervised release as part of her plea agreement. Today, Wood said she's happy; living with her husband, Jeremy, and two children. She works as a graphic designer for Pro Printing and Graphics — a printing company owned by her mother-in-law in North Platte — and spends time on the farm. Having been clean for 20 years, Wood remains active in the community. She volunteers helping animals through Paws-itive Partners Humane Society in North Platte. With the humane society, she has organized pet food fundraisers, including Woofstock, an event where people can come with their dogs to a carnival-like atmosphere. She also works with therapy dogs. Wood began applying for a pardon five years ago. As part of her application process, the Federal Bureau of Investigation interviewed her, her family and her employers both present and past. When she got the call on Wednesday, she was moved to tears. “I was really excited,” she said. “This has been one of those things where you don’t have any information. It just came out of the blue.” In a press release, the White House noted Wood’s steady employment and volunteer service. The White House added Wood has been praised for her work ethic and devotion to her children. Although it does not expunge Wood’s conviction, she believes the pardon will give her better job opportunities and access to a firearm, which she said would come in handy if she needs to put down a sick pig at her and her husband’s farm. “Trying to put down a pig without a gun is a very difficult process,” Wood said. “We have to call neighbors to do it for us.” She also said the pardon would allow her to visit nursing homes to help comfort residents with a therapy dog. Wood said her drug conviction prevented her from doing that. Wood is thankful her pardon will now allow her to put a dark chapter of her past behind her. “It’s definitely lifted a burden off my shoulders,” she said. “I can move forward and basically never have to think about it again.” A few snowflakes rest on a hand rail at the Gerald R. Ford Birthsite and Gardens in Omaha on Monday, Dec. 2, 2024. Watie White prepares to hang the portraits he drew for an exhibit inside the carriage house at the Joslyn Castle in Omaha on Tuesday, Dec. 3, 2024. Watie White poses for a portrait holding some potraits he drew that will hang in an exhibit inside the carriage house at the Joslyn Castle in Omaha on Tuesday, Dec. 3, 2024. Creighton's Pop Isaacs (2) goes up for a 3-pointer s head coach Greg McDermott motions in the background during the second half of a men's college basketball game against Kansas at the CHI Health Center in Omaha on Wednesday, Dec. 4, 2024. Creighton players react as they are unveiled on the NCAA Volleyball Tournament bracket during a watch party at DJ's Dugout in Omaha on Sunday, Dec. 1, 2024. Creighton's Jackson McAndrew (23) and Fedor Žugić (7) take a selfie with fans after defeating Kansas, 76-63, at the CHI Health Center in Omaha on Wednesday, Dec. 4, 2024. Stay up-to-date on the latest in local and national government and political topics with our newsletter.Carol M. Rasmussen
Donald Trump has promised to reveal the last of the JFK files , as an ‘expert’ says it could not have been Lee Harvey Oswald. The death of the 35th president in Dallas on November 22, 1963 has inspired dozens if not hundreds of conspiracy theories. They range from the more mundane idea that a second shooter could have been involved, to wild theories of alien involvement. Fanning the flames of conspiracy is the fact that some of the JFK files are yet to be released. President-elect Donald Trump promised during his reelection campaign that he would declassify all of the remaining government records surrounding the assassination if he returned to office. CIA fires whistleblower 'who said she was assaulted in a stairwell of the spy agency' Three Americans arrested in Venezuela for alleged plan to 'destabilize' country He has made this promise before, but he relented to the wishes of the CIA and FBI to keep some documents withheld during his last term as president. J Gary Shaw and Brain Edwards, authors of the new book Admitted Assassin, told The U.S. Sun : "I think that he will do his best to do it, but the problem is, they've had 61 years to do what they want to with those documents... There will not be one shred of evidence that will give us an indication as to who really killed John Kennedy. Shaw and Edwards believe there is more than meets the eye with the deaf of JFK. Shaw said: "I think there are still people alive that have information about what happened. Some of them don't even know they have it, but the kids are talking, and the grandkids of these people are talking, and that's going to shed further light on it." At this point, only a few thousand of the millions of governmental records related to the assassination have yet to be fully released, and those who have studied the records released so far say that even if the remaining files are declassified, the public shouldn't anticipate any earth-shattering revelations. “Anybody waiting for a smoking gun that’s going to turn this case upside down will be sorely disappointed,” said Gerald Posner, author of “Case Closed,” which concludes that assassin Lee Harvey Oswald acted alone. Historical analysis and years of expert oversight leads to Oswald being a lone shooter as the most likely outcome. Known for erratic behaviour and communist sympathies, Oswald was a lonely man with delusions of grandeur and his claims he was a “patsy” were most likely hubris. A year after the assassination, the Warren Commission, which President Lyndon B. Johnson established to investigate the assassination, concluded that Oswald acted alone and there was no evidence of a conspiracy. But that hasn't quelled a web of alternative theories over the decades. In the early 1990s, the federal government mandated that all assassination-related documents be housed in a single collection in the National Archives and Records Administration. The collection of over 5 million records was required to be opened by 2017, barring any exemptions designated by the president. Trump, who took office for his first term in 2017, had boasted that he'd allow the release of all of the remaining records but ended up holding some back because of what he called the potential harm to national security. And while files have continued to be released during President Joe Biden's administration, some still remain unseen. Mark S. Zaid, a national security attorney in Washington, said what's been released so far has contributed to the understanding of the time period, giving “a great picture” of what was happening during the Cold War and the activities of the CIA. Posner estimates that there are still about 3,000 to 4,000 documents in the collection that haven’t yet been fully released. Of those documents, some are still completely redacted while others just have small redactions, like someone's Social Security number. “If you have been following it, as I have and others have, you sort of are zeroed in on the pages you think might provide some additional information for history,” Posner said. There are about 500 documents that have been completely withheld, Posner said, and those include Oswald’s and Ruby’s tax returns. Those files, the National Archives says on its website, weren't subject to the 2017 disclosure requirement.Larry J. Sabato, director of the University of Virginia Center for Politics, said his interest in the assassination dates back to the event itself, when he was a child. “It just seemed so fantastical that one very disturbed individual could end up pulling off the crime of the century," Sabato said. “But the more I studied it, the more I realized that is a very possible, maybe even probable in my view, hypothesis.” DAILY NEWSLETTER: Sign up here to get the latest news and updates from the Mirror US straight to your inbox with our FREE newsletter.