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Michigan's Top WR Enters Transfer Portal Amid Coaching ChangeAssad exit puts US at perilous crossroads in Syria
Marin native opens pop-up shop in Bon Air shopping center“You see, it’s easy to give democracy lip service when it delivers the outcomes we want. It’s when we don’t get what we want that our commitment to democracy is tested,” Obama said as he keynoted the third annual Obama Foundation Democracy Forum at a South Loop hotel. “And at this moment in history, when core democratic principles seem to be continuously under attack, when too many people around the world have become cynical and disengaged, now is precisely the time to ask ourselves tough questions about how we can build our democracies and make them work in meaningful and practical ways for ordinary people,” he said. During his speech, Obama did not mention Trump by name, his Republican successor in the 2016 election who retook the White House by defeating Vice President Kamala Harris on Nov. 5. And Obama’s talk was a far cry from the partisan attacks he leveled against Trump at the Democratic National Convention, the last time Obama was in Chicago for a public speaking engagement. At the convention in August, Obama ridiculed Trump and warned that his returning to the White House would lead to “four more years of bluster and bumbling and chaos.” But on Thursday, it was Obama the lecturer who spoke, echoing the forum’s theme of “pluralism” and calling for people to engage with others from differing viewpoints and backgrounds in order to help maintain democracy. During his speech, Obama acknowledged that in previewing to friends the forum’s planned subject matter he “got more than a few groans and eye rolls” since “as far as they were concerned, the election proved that democracy is pretty far down on people’s priorities.” “But as a citizen and part of a foundation that believes deeply in the promise of democracy — not only to recognize the dignity and the worth of every individual but to produce free and fair and more just societies — I cannot think of a better time to talk about it,” he said. “This idea that each of us has to show a level of forbearance toward those who don’t look or think or pray like us, that’s at the heart of democracy,” he said. “But it’s especially hard in big, multi-racial, multi-ethnic, multi-religious countries like the United States.” Obama noted that in America in the decades after World War II “democracy seemed to run relatively smoothly with frequent cooperation across party lines and what felt like a broad consensus about how interests were shared (and) differences should be settled.” “The biggest reason that American pluralism seemed to be working so well may have to do with what was left out,” he said, noting that even in 2004 when he was elected to the U.S. Senate he was its only Black member. “It’s fair to say that when everyone in Washington looked the same and shared the same experiences ... cutting deals and getting along was a whole lot simpler.” But starting with the rise of the Civil Rights movement in the 1960s, “historically marginalized Blacks, Latinos, Asians, Native Americans, women, gays and lesbians, disabled Americans demanded a seat at the table,” Obama said. “Not only did they insist on a fair share of government direct resources, but they brought with them new issues, more than their unique experiences, that could not just be resolved by giving them a bigger slice of the pie.” “In other words,” he said, “politics was not just a fight about tax rates or roads anymore. It was about more fundamental issues that went to the core of our being — how we expected society to structure itself.” Those issues, however, also opened the door to “politicians and party leaders and interest groups (who) take a maximalist position on almost every issue,” Obama said. “Every election becomes an act of mortal combat, which political opponents are enemies to be vanquished. Compromise is viewed as betrayal and total victory is the only acceptable outcome,” he said. “But since total victory is impossible in a country politically split down the middle, the result is a doom loop — gridlock, greater polarization, wilder rhetoric and a deepening conviction among partisans that the other side is breaking the rules and has rigged the game to tip it in their favor.” Obama, a former senior lecturer of constitutional law at the University of Chicago, has spoken frequently in his post-presidency of a need to restore civility and the need for compromise despite the nation’s political divisions. His comments Thursday took on an added dimension in the post-election climate given the history of Trump’s first term and the promises the president-elect made throughout the campaign. “I am convinced that if we want democracy, as we understand it, to survive, then we’re all going to have to work toward a renewed commitment to pluralist principles,” he said, adding that “it’s important to look for allies in unlikely places,” not “assume that people on the other side have monolithic views” and believe that they “may share our beliefs about sticking to the rules, observing norms.” The alternative is “an increasing willingness on the part of politicians and their followers to violate democratic norms, to do anything they can to get their way, to use the power of the state to target critics and journalists and political rivals and to even resort to violence in order to gain and hold onto power,” he said. “In those circumstances, pluralism does not call for us to just stand back and save our breath,” Obama said. “In those circumstances, a line has been crossed and we have to stand firm and speak out and organize and mobilize as forcefully as we can.” But, in nodding to the fact that such change can’t happen quickly, he also called a restoration of “habits and practices that so often we’ve lost, learning to trust each other,” is “a generational project.”
Mariah Carey's reign as the "Queen of Christmas" continues. The Grammy-award-winning singer's holiday ballad, "All I Want For Christmas Is You," is now the first to have topped Billboard's Hot 100 list for six years in a row. It's the first song to top the Hot 100 in six distinct runs on the chart, according to Billboard . Only one other song, "The Twist" by Chubby Checker, has even led two stays on the chart. Carey has now placed at the top of the Hot 100 for a record-extending 20 years thanks to her holiday song, which was first released in 1994. RELATED STORY | Barbie released a new Mariah Carey doll for the holidays She also holds the record for number of weeks an artist has sat at the top of the Hot 100 chart with 94. Behind her is Rihanna with 60 and The Beatles with 59. In just the first week of December this year, “All I Want For Christmas Is You" drew 38.2 million streams and 24.4 million radio airplay audience impressions, according to data from Luminate. Carey has leaned into her reign as a Christmas queen since her song started to chart again, even attempting to file a trademark for "Queen of Christmas" but was ultimately denied. Each year, as the holiday season starts to peak over the horizon, she releases special videos on her social media saying, "It's time."None
NoneCaterpillar Inc. Maintains DividendGRAPEVINE, Texas, Dec. 10, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the third quarter ended November 2, 2024. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at https://investor.gamestop.com. THIRD QUARTER OVERVIEW Net sales were $0.860 billion for the period, compared to $1.078 billion in the prior year's third quarter. Selling, general and administrative (“SG&A”) expenses were $282.0 million for the period, compared to $296.5 million in the prior year's third quarter. Net income was $17.4 million for the period, compared to a net loss of $3.1 million for the prior year’s third quarter. Cash, cash equivalents and marketable securities were $4.616 billion at the close of the quarter. During the quarter, the Company completed its previously disclosed "at-the-market" equity offering program pursuant to the prospectus supplement filed with the SEC on September 6, 2024 by selling 20.0 million shares of its common stock for aggregate gross proceeds of approximately $400.0 million (before commissions and offering expenses). The Company does not anticipate any further at-the-market offerings involving the offer and sale of its common stock during the current fiscal year. The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-Q. NON-GAAP MEASURES AND OTHER METRICS As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), GameStop may use certain non-GAAP measures, such as adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA and free cash flow. The Company believes these non-GAAP financial measures provide useful information to investors in evaluating the Company’s core operating performance. Adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share and adjusted EBITDA exclude the effect of items such as certain transformation costs, asset impairments, severance, as well as divestiture costs. Free cash flow excludes capital expenditures otherwise included in net cash flows provided by (used in) operating activities. The Company’s definition and calculation of non-GAAP financial measures may differ from that of other companies. Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company’s financial position, results of operations or cash flows and should therefore be considered in assessing the Company’s actual and future financial condition and performance. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s current beliefs, views, estimates and expectations, including as to the Company’s industry, business strategy, goals and expectations concerning its market position, strategic and transformation initiatives, future operations, margins, profitability, sales growth, capital expenditures, liquidity, capital resources, expansion of technology expertise, and other financial and operating information, including expectations as to future operating profit improvement. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; the Company’s ability to manage its profitability and cost reduction initiatives; turnover in senior management or the Company’s ability to attract and retain qualified personnel; potential damage to the Company’s reputation or customers' perception of the Company; the Company’s ability to maintain the security or privacy of its customer, associate or Company information; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; potential future litigation and other legal proceedings; the value of the Company’s securities holdings; concentration of the Company’s investment portfolio into one or few holdings; the recognition of losses in a particular security even if the Company has not sold the security; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on the Company’s financial results; and the Company’s ability to maintain effective control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. GameStop Corp. Schedule II (in millions, except per share data) (unaudited) Non-GAAP results The following tables reconcile the Company's selling, general and administrative expenses (“SG&A expense”), operating loss, net income (loss) and net income (loss) per share as presented in its unaudited consolidated statements of operations and prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) to its adjusted SG&A expense, adjusted operating loss, adjusted net income (loss), adjusted EBITDA and adjusted net income (loss) per share. The diluted weighted-average shares outstanding used to calculate adjusted earnings per share may differ from GAAP weighted-average shares outstanding. Under GAAP, basic and diluted weighted-average shares outstanding are the same in periods where there is a net loss. The reconciliations below are from continuing operations only. GameStop Corp. Schedule III (in millions) (unaudited) Non-GAAP results The following table reconciles the Company's cash flows provided by (used in) operating activities as presented in its unaudited Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the company’s financial performance. Non-GAAP Measures and Other Metrics Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are supplemental financial measures of the Company’s performance that are not required by, or presented in accordance with, GAAP. We believe that the presentation of these non-GAAP financial measures provide useful information to investors in assessing our financial condition and results of operations. We define adjusted EBITDA as net income (loss) before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs, business divestitures, asset impairments, severance and other non-cash charges. Net income (loss) is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include: certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share may be defined and determined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Contact GameStop Investor Relations 817-424-2001 ir@gamestop.comKey Takeaways President Donald Trump's election to a second term was a win for business and investment — two important drivers of economic growth . His campaign promises largely reflected a pro-business ideology, promising support for entrepreneurship and corporate expansion and starkly contrasting with Vice President Kamala Harris's consumer-focused approach, which seemed to overlook the crucial balance between investment and consumption. Donald Trump's business-driven agenda A cornerstone of President Trump's first term was the 2017 Tax Cuts and Jobs Act (TCJA), which placed a clear emphasis on empowering small businesses , entrepreneurs and investors to put more money back into their ventures. The TCJA was packed with pro-growth policies, including the 20% qualified business income (QBI) deduction , the ability to fully expense equipment purchases and cutting the corporate tax rate from 35% to 21% . During the campaign, President Trump suggested taking this even further by reducing the tax rate to 15% , underscoring his commitment to stimulate corporate investment. These supports for business and investment worked. With a lower tax burden and targeted incentives, entrepreneurs and businesses made significant investments in the U.S. — buying more equipment, adding jobs and creating much-needed goods and services for society. Extending the QBI deduction and enhancing it to 25-30% would further incentivize entrepreneurship, especially if the deduction applied to all business types, including service industries. President Trump also recognizes that research and development play a critical role in innovation and economic expansion. By advocating for permanent bonus depreciation, Trump aimed to align the U.S. with other nations that offer full deductions for equipment investments. However, this commitment should extend to R&D tax policies. Most other countries have much better R&D tax benefits than the U.S., putting our businesses at a disadvantage. Related: 3 Major Reasons Why Donald Trump's Second Term Will Benefit My Business and Increase Profits The contrast with Kamala Harris's consumer-centric focus The Harris-Walz campaign took the opposite approach. Throughout the campaign, Vice President Kamala Harris strongly emphasized consumer protection . Her proposals included price controls and programs to boost consumer spending , prioritizing immediate consumer benefits over long-term economic growth. Price controls often sound attractive on the surface but, in reality, distort the market, often discouraging businesses from investing in areas where their returns will be capped. This stifles innovation and, in the long run, reduces competitiveness on a global scale. Vice President Harris's focus on a consumption-driven economy would have overly relied on short-term spending . Without investment in infrastructure, technology and R&D, the economy risks stagnating. In addition, she proposed raising corporate taxes to 28% and combined capital gains taxes to 33% . The money that would go toward higher taxes would then not be available as capital for businesses to expand, hire and innovate, ultimately hindering economic growth. Related: 10 Significant Ways A Second Donald Trump Administration Could Impact Your Taxes A call for a focus on pro-business policies Despite a largely pro-business stance, President Trump also floated his share of consumer-focused policies during the campaign. Suggestions to eliminate income taxes on tips and overtime pay were popular among large and important segments of voters but would cause havoc for business owners. The tax change would create massive inequity among workers in the same business, with hosts and chefs paying taxes on their full earnings while servers would not. It also would create unintended incentives for people to shift to nonexempt (and overtime-laden) work schedules. Based on his campaign rhetoric, President Trump also seems certain to use tariffs as leverage with U.S. trading partners, especially China and Mexico. As all tariffs do, that will surely hit the pocketbooks of consumers and businesses alike. As President Trump embarks on his second term, both he and Congress must stay focused on policies that bolster business and investment. This is the proven path to sustained economic growth and prosperity. It's also not a partisan position. The first time a U.S. president encouraged investment through economic policy was when President John F. Kennedy signed legislation creating the investment tax credit in 1962, encouraging businesses to buy equipment during a time when the economy had slowed. President Ronald Reagan also used economic policy to boost investment, adding significant benefits to real estate investment in 1981. President Trump and the next Congress have an opportunity to add to this positive legacy. They simply need to stay focused and united on the right policy changes. Reducing business tax rates, encouraging investment and supporting entrepreneurship and innovation would go a long way toward improving U.S. competitiveness with the rest of the world. Entrepreneurs are the lifeblood of the American economy. Let's not allow this moment to slip by.
Stock market today: Wall Street gains ground as it notches a winning week and another Dow recordFamily fear for son as college funding dries up
Unrivaled, the new 3-on-3 women's basketball league launching this winter, signed LSU star guard Flau'jae Johnson to a name, image and likeness deal. Johnson is the second college player to ink an agreement with Unrivaled, following UConn's Paige Bueckers. They won't be participating in the upcoming inaugural season, but Johnson and Bueckers will have equity stakes in the league. Unrivaled dropped a video on social media Thursday showing Johnson -- who also has a burgeoning rap career -- performing a song while wearing a shirt that reads, "The Future is Unrivaled." The deal will see Johnson create additional promotional content for the league. Johnson, 21, was a freshman on the LSU team that won the 2023 national championship. Now in her junior year, Johnson is averaging career highs of 22.2 points, 6.0 rebounds and 3.3 assists per game through 10 games for the No. 5 Tigers (10-0). She ranks eighth in Division I in scoring. Johnson has career averages of 14.1 points, 5.8 rebounds and 2.3 assists per game in 82 career appearances (80 starts) for LSU. --Field Level Media
GREEN BAY, Wis. (AP) — Green Bay Packers wide receiver Romeo Doubs left his team’s game against the San Francisco 49ers on Sunday because of a concussion. Doubs’ injury came on a third-quarter play in the end zone that resulted in a pass interference penalty against San Francisco’s Renardo Green. Doubs stayed down briefly after the play, then got up slowly before heading to the sideline. He went into the injury tent before walking to the locker room. The Packers then announced Doubs was out for the rest of the game because of a concussion. He had three catches for 54 yards before leaving. San Francisco defensive tackle Jordan Elliott left in the first half of the game to get evaluated for a concussion and was ruled out at halftime. AP NFL: https://apnews.com/hub/NFLStaffordshire Police boss Chris Noble has dismissed claims two-tier policing as he defended his officers' actions during the Hanley riot. Chief constable Noble said it “does not make any sense for policing at all to show favouritism whenever we’re built on respect for the rule of the law”. His comments came after riots swept through Hanley and Tamworth, as well as other parts of the country in July and August, in the wake of the Southport stabbings. Answering questions from the Commons Home Affairs Committee on Tuesday, Chief Constable Noble added: “This is a very different set of circumstances from the very complex rights and balances we need to strike around protest policing. This is dealing with thugs and criminals who are trying to kill police officers, set fire to buildings and commit serious criminal offences. “So if two-tier policing is bringing people swiftly to justice, I’m not quite sure many people would argue with that." The allegations are “not nice to hear, but we’ve got relatively thick skin”, he said, but added: “We are very protective of the integrity of our officers”. Trouble erupted in Hanley on Saturday, August 3 as the city centre was swamped with protesters marching down the streets. Around 100 police with riot shields and dog units responded to the chaos. Planned protests kicked off at around 11.30am. Large groups of men were seen turning out around the mosques in opposition to the demonstrators. From around 1.30pm, the groups began to clash, primarily at first around the Darul Falah mosque in Town Road. Among both the protestors and those who had turned out at the mosques to oppose them, individuals were witnessed to be carrying weapons. Meanwhile, Mark Webster, the boss of Cleveland Police, told MPs “people don’t want to listen to the facts” when asked about the debate which erupted amid accusations that some criminals were getting special treatment from police because of their background. The chief constable said the “narrative” around whether there was two-tier policing in the UK was “really unhelpful sometimes”, adding: “And I go so far as to say sometimes it’s nonsense, and it does tend to undermine.” “Without fear or favour if you were involved in criminality, you were arrested, or you will be arrested,” he said as he insisted his force was “very fair” and stressed that people were arrested when there was “clear evidence” they were suspected of committing violent disorder or other crimes. People “don’t necessarily want to listen to the facts, and if it doesn’t conform with the view that you want to put across and you want to accuse police of two-tier policing, it does have a really negative effect on my officers”, he told the committee. “Factual debate doesn’t seem to be a way through countering some of this argument,” he added. Asked what was behind the riots, Mr Webster said there were “common factors” among many of the areas where unrest occurred, adding: “Many of them are challenged communities. The social fabric is quite difficult across many of them and I think that probably makes them fairly fertile to be either whipped up or for violence, maybe out of just wanting criminality, boredom, any number of different issues.” He cited examples of people being sentenced who had “been out, they’d had too much to drink, they’d walk past and thought, why not?” “That’s not a representative sample, but I think much of that desperation, this lack of hope, lack of state, nothing to lose, I think much of that certainly impacted on the riots and the disorder that took place in Cleveland,” he added. Judi Heaton, the chief constable of Humberside Police, also told the committee how vital the justice system functioning quickly was to “nip this (the riots) in the bud”, adding: “We couldn’t have a situation where, nationally, we were facing disorder like this, day in, day out, week in, week out. “So actually, swift justice happening and being seen to happen was really important.” Get all the latest news from court hereNone
