The first thing I do each morning is check my watch — not for the time but for my sleep score. As a runner, when the glowing red letters say my score — and my training readiness — are poor, I feel an instant dread. Regardless, I scroll on, inspecting my heart rate variability and stress level — snapshots that influence the tone I carry into the day. What does dreading my smartwatch’s interpretation of my athletic competence say about me? That I have become a pawn in the gamification of health data. Last year, electronics represented one of the largest proportions of total Black Friday sales, according to Deloitte. That’s when I bought my first smartwatch, a Garmin. This year, I’m throwing it away. I was the perfect target. For several years, I had been preparing to run my first marathon. I watched fitness influencers, ultramarathoners and Olympians optimize their training with meticulous tracking and high-tech devices. I wanted in. I got the watch and joined Strava, a social media network for athletes. Once I had a tracker on, sleep became sacred. I traded late-night socializing for it, confident that I’d cash in on race day. I built my day around my nights, transfixed by a false sense of control over my circadian rhythm. Sleep, just like my running routine, had slowly morphed from a bodily function into a technological token of productivity. I was hooked, emboldened by the illusion that I was training intuitively. I pushed hard when my Garmin nudged me, and even harder when I wanted to prove its metrics wrong. I began to run more for the PR (personal record) badge and “your fastest 5k!” notifications than for mental clarity and solitude. I ran because I loved it, and because I loved it, I fell prey to the Strava-fication of it. Suddenly, I was no longer running for myself. I was running for public consumption. I realized this only when it literally became painfully obvious. An MRI found that the lingering pain I’d been ignoring in my heels — something my watch hadn’t picked up on — was caused by four running-induced stress fractures. I’ve realized that health optimization tools — the ones marketed as necessary for better sleep, a lower resting heart rate, higher VO2 max (a measure of how much oxygen your body absorbs) and so on — are designed to profit off our fitness anxiety. We track ourselves this way and that way, obsessing over our shortcomings to no apparent end. In doing so, we are deprogrammed from listening to innate physiological signals and reprogrammed to create shadow experiences such as posting our detailed workout stats or running paths on digital walls that no one is looking at. I don’t deny that today’s fitness gadgets are incredibly alluring, and in many ways tracking can be useful for training. I am convinced, however, that overreliance on the data collected by devices and apps — and the comparisons we draw from sharing it — can quickly corrupt and commodify what I find to be the true essence of running: being present. Related Articles When we aren’t tracking, when we are just doing, we can begin to reap the dull yet profound psychological benefits of endurance sports — the repetitive silence, the consistent failure — that can’t be captured in a post or monetized. Exercise is a rare opportunity to allow our bodies’ movement to color our thoughts from one minute to the next. When we’re in motion, we don’t need to analyze our health metrics. We can learn to accept the moment and be humbled by our limitations.
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By FARNOUSH AMIRI, Associated Press WASHINGTON (AP) — Former Rep. Matt Gaetz said Friday that he will not be returning to Congress after withdrawing his name from consideration to be attorney general under President-elect Donald Trump amid growing allegations of sexual misconduct. “I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” Gaetz told conservative commentator Charlie Kirk, adding that he has “some other goals in life that I’m eager to pursue with my wife and my family.” The announcement comes a day after Gaetz, a Florida Republican, stepped aside from the Cabinet nomination process amid growing fallout from federal and House Ethics investigations that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer. The 42-year-old has vehemently denied the allegations against him. Gaetz’s nomination as attorney general had stunned many career lawyers inside the Justice Department, but reflected Trump’s desire to place a loyalist in a department he has marked for retribution following the criminal cases against him. Hours after Gaetz withdrew, Trump nominated Pam Bondi, the former Florida attorney general, who would come to the job with years of legal work under her belt and that other trait Trump prizes above all: loyalty. It’s unclear what’s next for Gaetz, who is no longer a member of the House. He surprised colleagues by resigning from Congress the same day that Trump nominated him for attorney general. Some speculated he could still be sworn into office for another two-year term on Jan. 3, given that he had just won reelection earlier this month. But Gaetz, who has been in state and national politics for 14 years, said he’s done with Congress. “I think that eight years is probably enough time in the United States Congress,” he said.Matt Gaetz says he won’t return to Congress next year after withdrawing name for attorney general
Trump’s promises to conservatives raise fears of more book bans in US
Trump’s promises to conservatives raise fears of more book bans in USREDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- C3.ai, Inc. (“C3 AI,” “C3,” or the “Company”) (NYSE: AI), the Enterprise AI application software company, today announced financial results for its fiscal second quarter ended October 31, 2024. “We had an outstanding quarter with strong top- and bottom-line performance to mark our seventh consecutive quarter of accelerating revenue growth,” said Thomas M. Siebel, Chairman and CEO, C3 AI. “It is difficult to overstate the potential of the Microsoft–C3 AI strategic alliance,” said Siebel. “By establishing C3 AI as a preferred AI application provider on Azure and creating a Microsoft-scale go-to-market engine, we’re making it easy for businesses to adopt and deploy C3 AI applications. This is an inflection point for Enterprise AI, driving growth.” Fiscal Second Quarter 2025 Financial Highlights Microsoft Azure Strategic Alliance Partner Network C3 AI reinforced its leadership in Enterprise AI, strengthened by a thriving partner ecosystem to accelerate Enterprise AI adoption. Business Highlights C3 AI had continuing momentum with significant Federal and commercial successes and strengthened strategic partnerships. Federal Momentum Federal business demonstrated strong execution, securing key wins and expansions across multiple agencies. C3 Generative AI C3 AI further strengthens its competitive edge in generative AI, affirming its market leadership. Financial Outlook: The Company’s guidance includes GAAP and non-GAAP financial measures. The following table summarizes C3 AI’s guidance for the third quarter of fiscal 2025 and full-year fiscal 2025: (in millions) Third Quarter Fiscal 2025 Guidance Full Year Fiscal 2025 Guidance Total revenue $95.5 - $100.5 $378.0 - $398.0 Non-GAAP loss from operations $(38.6) - $(46.6) $(105.0) - $(135.0) A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation expense-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP results included in this press release. Our fiscal year ends April 30, and numbers are rounded for presentation purposes. Conference Call Details What: C3 AI Second Quarter Fiscal 2025 Financial Results Conference Call When: Monday, December 9, 2024 Time: 2:00 p.m. PT / 5:00 p.m. ET Participant Registration: https://register.vevent.com/register/BI383ae1e1c80b4221a65de6c2c2baf582 (live) Webcast: https://edge.media-server.com/mmc/p/xf8dudjw (live and replay) Investor Presentation Details An investor presentation providing additional information and analysis can be found at our investor relations page at ir.c3.ai . Statement Regarding Use of Non-GAAP Financial Measures The Company reports the following non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP financial measures. Other Information Professional Services Revenue Our professional services revenue includes service fees and prioritized engineering services. Service fees include revenue from services such as consulting, training, and paid implementation services. For service fees, revenue is typically recognized over time as the services are performed. Prioritized engineering services are undertaken when a customer requests that we accelerate the design, development, and delivery of software features and functions that are planned in our future product roadmap. When we agree to this, we negotiate an agreed upon fee to accelerate the development of the software. When the software feature is delivered, it becomes integrated to our core product offering, is available to all subscribers of the underlying software product, and enhances the operation of that product going forward. Such prioritized engineering services result in production-level computer software – compiled code that enhances the functionality of our production products – which is available for our customers to use over the life of their software licenses. Per Accounting Standards Codification (ASC) 606, Prioritized engineering services revenue is recognized as professional services over the period in which the software development is completed. Total professional services revenue consists of: Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 (in thousands) (in thousands) Prioritized engineering services $ 9,661 $ 4,852 $ 20,310 $ 13,100 Service fees 3,515 1,928 6,623 4,690 Total professional services revenue $ 13,176 $ 6,780 $ 26,933 $ 17,790 Use of Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding our market leadership position, anticipated benefits from our partnerships, financial outlook, our sales and customer opportunity pipeline including our industry diversification, the expected benefits of our offerings (including the potential benefits of our C3 Generative AI offerings), and our business strategies, plans, and objectives for future operations. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including our history of losses and ability to achieve and maintain profitability in the future, our historic dependence on a limited number of existing customers that account for a substantial portion of our revenue, our ability to attract new customers and retain existing customers, market awareness and acceptance of enterprise AI solutions in general and our products in particular, the length and unpredictability of our sales cycles and the time and expense required for our sales efforts. Some of these risks are described in greater detail in our filings with the Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2024 and, when available, October 31, 2024, although new and unanticipated risks may arise. The future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations. About C3.ai, Inc. C3.ai, Inc. (NYSE:AI) is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of domain-specific generative AI offerings for the enterprise. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended October Six Months Ended October 31, 2024 2024 2023 2024 2023 Revenue Subscription (1) $ 81,162 $ 66,449 $ 154,618 $ 127,801 Professional services (2) 13,176 6,780 26,933 17,790 Total revenue 94,338 73,229 181,551 145,591 Cost of revenue Subscription 35,038 30,937 68,330 61,371 Professional services 1,460 1,179 3,215 2,558 Total cost of revenue 36,498 32,116 71,545 63,929 Gross profit 57,840 41,113 110,006 81,662 Operating expenses Sales and marketing (3) 55,643 49,895 107,768 93,780 Research and development 55,715 50,399 108,642 101,267 General and administrative 21,770 20,215 41,470 40,104 Total operating expenses 133,128 120,509 257,880 235,151 Loss from operations (75,288 ) (79,396 ) (147,874 ) (153,489 ) Interest income 9,560 10,480 19,563 20,602 Other income (expense), net 13 (638 ) 41 (877 ) Loss before provision for income taxes (65,715 ) (69,554 ) (128,270 ) (133,764 ) Provision for income taxes 257 226 529 374 Net loss $ (65,972 ) $ (69,780 ) $ (128,799 ) $ (134,138 ) Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.52 ) $ (0.59 ) $ (1.02 ) $ (1.15 ) Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 127,870 118,656 126,434 117,125 (1) Including related party revenue of $10,581 for the six months ended October 31, 2023. (2) Including related party revenue of $5,804 for the six months ended October 31, 2023. (3) Including related party sales and marketing expense of $810 for the six months ended October 31, 2023. C3.AI, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data) (Unaudited) October 31, 2024 April 30, 2024 Assets Current assets Cash and cash equivalents $ 121,274 $ 167,146 Marketable securities 609,100 583,221 Accounts receivable, net of allowance of $486 and $359 as of October 31, 2024 and April 30, 2024, respectively 159,987 130,064 Prepaid expenses and other current assets 27,458 23,963 Total current assets 917,819 904,394 Property and equipment, net 84,198 88,631 Goodwill 625 625 Other assets, non-current 43,647 44,575 Total assets $ 1,046,289 $ 1,038,225 Liabilities and stockholders’ equity Current liabilities Accounts payable $ 20,611 $ 11,316 Accrued compensation and employee benefits 41,755 44,263 Deferred revenue, current 35,663 37,230 Accrued and other current liabilities 23,979 9,526 Total current liabilities 122,008 102,335 Deferred revenue, non-current 127 1,732 Other long-term liabilities 65,193 60,805 Total liabilities 187,328 164,872 Commitments and contingencies Stockholders’ equity Class A common stock 125 120 Class B common stock 3 3 Additional paid-in capital 2,077,044 1,963,726 Accumulated other comprehensive income (loss) 521 (563 ) Accumulated deficit (1,218,732 ) (1,089,933 ) Total stockholders’ equity 858,961 873,353 Total liabilities and stockholders’ equity $ 1,046,289 $ 1,038,225 C3.AI, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Six Months Ended October 31, 2024 2023 Cash flows from operating activities: Net loss $ (128,799 ) $ (134,138 ) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 6,092 6,220 Non-cash operating lease cost 203 454 Stock-based compensation expense 111,721 104,049 Accretion of discounts on marketable securities (7,618 ) (8,755 ) Other 418 — Changes in operating assets and liabilities Accounts receivable (1) (30,051 ) (8,567 ) Prepaid expenses, other current assets and other assets (2) (1,993 ) (665 ) Accounts payable (3) 9,294 (2,918 ) Accrued compensation and employee benefits (4,815 ) (2,551 ) Operating lease liabilities (1,215 ) 7,804 Other liabilities (4) 19,284 1,709 Deferred revenue (5) (3,172 ) (7,296 ) Net cash used in operating activities (30,651 ) (44,654 ) Cash flows from investing activities: Purchases of property and equipment (1,739 ) (16,631 ) Capitalized software development costs — (2,750 ) Purchases of marketable securities (365,926 ) (489,871 ) Maturities and sales of marketable securities 348,750 412,554 Net cash used in investing activities (18,915 ) (96,698 ) Cash flows from financing activities: Proceeds from issuance of Class A common stock under employee stock purchase plan 5,009 5,055 Proceeds from exercise of Class A common stock options 4,472 10,163 Taxes paid related to net share settlement of equity awards (5,787 ) (9,686 ) Net cash provided by financing activities 3,694 5,532 Net decrease in cash, cash equivalents and restricted cash (45,872 ) (135,820 ) Cash, cash equivalents and restricted cash at beginning of period 179,712 297,395 Cash, cash equivalents and restricted cash at end of period $ 133,840 $ 161,575 Cash and cash equivalents $ 121,274 $ 149,009 Restricted cash included in other assets 12,566 12,566 Total cash, cash equivalents and restricted cash $ 133,840 $ 161,575 Supplemental disclosure of cash flow information—cash paid for income taxes $ 534 $ 281 Supplemental disclosures of non-cash investing and financing activities: Purchases of property and equipment included in accounts payable and accrued liabilities $ 117 $ 7,293 Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives) $ 1,345 $ 778 Vesting of early exercised stock options $ 216 $ 294 (1) Including changes in related party balances of $12,444 for the six months ended October 31, 2023. (2) Including changes in related party balances of $(810) for the six months ended October 31, 2023. (3) Including changes in related party balances of $248 for the six months ended October 31, 2023. (4) Including changes in related party balances of $(2,448) for the six months ended October 31, 2023. (5) Including changes in related party balances of $(46) for the six months ended October 31, 2023. C3.AI, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except percentages) (Unaudited) Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 Reconciliation of GAAP gross profit to non-GAAP gross profit: Gross profit on a GAAP basis $ 57,840 $ 41,113 $ 110,006 $ 81,662 Stock-based compensation expense (1) 8,311 8,993 16,719 17,509 Employer payroll tax expense related to employee stock-based compensation (2) 171 297 527 838 Gross profit on a non-GAAP basis $ 66,322 $ 50,403 $ 127,252 $ 100,009 Gross margin on a GAAP basis 61 % 56 % 61 % 56 % Gross margin on a non-GAAP basis 70 % 69 % 70 % 69 % Reconciliation of GAAP loss from operations to non-GAAP loss from operations: Loss from operations on a GAAP basis $ (75,288 ) $ (79,396 ) $ (147,874 ) $ (153,489 ) Stock-based compensation expense (1) 57,038 53,169 111,721 104,049 Employer payroll tax expense related to employee stock-based compensation (2) 1,090 1,274 2,362 3,774 Loss from operations on a non-GAAP basis $ (17,160 ) $ (24,953 ) $ (33,791 ) $ (45,666 ) Reconciliation of GAAP net loss per share to non-GAAP net loss per share: Net loss on a GAAP basis $ (65,972 ) $ (69,780 ) $ (128,799 ) $ (134,138 ) Stock-based compensation expense (1) 57,038 53,169 111,721 104,049 Employer payroll tax expense related to employee stock-based compensation (2) 1,090 1,274 2,362 3,774 Net loss on a non-GAAP basis $ (7,844 ) $ (15,337 ) $ (14,716 ) $ (26,315 ) GAAP net loss per share attributable to Class A and Class B common shareholders, basic and diluted $ (0.52 ) $ (0.59 ) $ (1.02 ) $ (1.15 ) Non-GAAP net loss per share attributable to Class A and Class B common shareholders, basic and diluted $ (0.06 ) $ (0.13 ) $ (0.12 ) $ (0.22 ) Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted 127,870 118,656 126,434 117,125 (1) Stock-based compensation expense for gross profits and gross margin includes costs of subscription and cost of professional services as follows. Stock-based compensation expense for loss from operations includes total stock-based compensation expense as follows: Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 Cost of subscription $ 7,827 $ 8,514 $ 15,521 $ 16,570 Cost of professional services 484 479 1,198 939 Sales and marketing 20,802 18,226 39,635 35,005 Research and development 17,999 16,685 36,430 33,718 General and administrative 9,926 9,265 18,937 17,817 Total stock-based compensation expense $ 57,038 $ 53,169 $ 111,721 $ 104,049 (2) Employer payroll tax expense related to employee stock-based compensation for gross profits and gross margin includes costs of subscription and cost of professional services as follows. Employer payroll tax expense related to employee stock-based compensation for loss from operations includes total employer payroll tax expense related to employee stock-based compensation as follows: Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 Cost of subscription $ 163 $ 282 $ 489 $ 791 Cost of professional services 8 15 38 47 Sales and marketing 450 463 922 1,468 Research and development 231 415 595 1,232 General and administrative 238 99 318 236 Total employer payroll tax expense $ 1,090 $ 1,274 $ 2,362 $ 3,774 Reconciliation of free cash flow to the GAAP measure of net cash used in operating activities: The following table below provides a reconciliation of free cash flow to the GAAP measure of net cash used in operating activities for the periods presented: Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 Net cash used in operating activities $ (38,693 ) $ (48,590 ) $ (30,651 ) $ (44,654 ) Less: Purchases of property and equipment (815 ) (5,293 ) (1,739 ) (16,631 ) Capitalized software development costs — (1,250 ) — (2,750 ) Free cash flow $ (39,508 ) $ (55,133 ) $ (32,390 ) $ (64,035 ) Net cash provided by (used in) investing activities $ 22,635 $ (11,898 ) $ (18,915 ) $ (96,698 ) Net cash provided by financing activities $ 3,512 $ 3,055 $ 3,694 $ 5,532 View source version on businesswire.com : https://www.businesswire.com/news/home/20241209723558/en/ CONTACT: Investor Contact ir@c3.aiC3 AI Public Relations Edelman Lisa Kennedy (415) 914-8336 pr@c3.ai KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE SOURCE: C3.ai Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:06 PM http://www.businesswire.com/news/home/20241209723558/en Copyright Business Wire 2024.
Trump’s promises to conservatives raise fears of more book bans in US
NoneNoneJapan's famous sake joins UNESCO's cultural heritage list, a boost to brewers and enthusiasts
Eat Don't miss out on the headlines from Eat. Followed categories will be added to My News. A fast food chain has released a “world first” menu item in Australia that can’t be purchased in any other country. Macca’s just dropped its new summer range which contains three new burgers, two new desserts and a selection of returning favourites. The “world first” collaboration is the introduction of the Cherry Ripe McFlurry, featuring pieces of the iconic Aussie chocolate bar on top of the brand’s ice cream. Customers can choose to have either vanilla or chocolate soft serve. Other new menu items include a trio of burgers featuring pineapple. This includes the Hawaiian BBQ Deluxe, which features a beef patty, bacon, lettuce, tomato, cheese and smoky BBQ sauce. Macca's has dropped its summer menu. Picture: Supplied There is also the Hawaiian McCrispy and Hawaiian McSpicy. Both are chicken burgers. The other dessert item is a Pineapple Sundae. Just like the Cherry Ripe McFlurry, customers can get it with vanilla or chocolate soft serve. Other items on offer are Cheesey Jalapeno Pops, which are back by popular demand, and Frozen Coke Oreo Zero Sugar. The items will be available from November 27. Customers expressed their feelings about the summer menu drop. “Anything with pineapple. OMG yummmmmmm,” one social media user commented. Another said: “Hurry up and get to summer so the Crunchie McFlurry is back!” “Ew not the frozen Oreo coke,” another person added. “I never got to try the pineapple sundae the last time. Might have to give it a go this time! Cherry Ripe McFlurry should be good too,” one person commented. Another social media user said: “I’m having the Oreo frozen coke atm it tastes better than the non frozen version.” It features two desserts, including the 'world first' Cherry Ripe McFlurry. Picture: Supplied A spokesperson for the restaurant said the new menu is intended to bring “tropical vibes”. “There are so many reasons for a Macca’s run this summer,” Amanda Nakad, marketing director for McDonald’s Australia, said. “Whether you’re a Cherry Ripe fan or love a little pineapple on your burger, we’re ready to serve up the tropical summertime vibes with our brand new summer menu, no matter the time of day. “If it’s a post-swim Soft Serve, cheeky late-night Hawaiian BBQ Deluxe or a road trip Drive-Thru, we’re here for it all and usually right around the corner.” It comes just days after Macca’s confirmed to news.com.au there was a “temporary change” to its orange juice blend. It will also sell Frozen Coke Oreo Zero Sugar. Picture: Supplied The Keri Orange Juice previously had no allergy statements. But, from November 27, it has been changed to include the allergens gluten, wheat and soy. “McDonald’s Australia has advised Allergy & Anaphylaxis Australia of a temporary change to our Orange Juice blend nationwide from Wednesday November 27, which will contain allergens including gluten, wheat and soy,” a Macca’s spokesperson told news.com.au. “We always encourage customers to check the ingredient and nutrition information on all menu items, which can be can be found on our website.” News.com.au understands the change has come due to a switch up at the manufacturer. Coeliac Australia said despite the allergen, the drink is safe for those on a gluten-free diet. More Coverage Aussies are ‘stocking up’ on this Woolies item Claudia Poposki ‘Ambitious’: Wild way women calling out men Claudia Poposki Originally published as McDonald’s Australia releases a ‘world first’ collaboration More related stories Eat ‘Give me’: Aussie-first item lands at KFC Australia’s biggest fried chicken chain has launched an “Australian first” menu item that garnered praise when it was released in Singapore in 2018. Read more Eat ‘Do we need?’: Woolies name change divides One major supermarket has renamed a popular festive product, causing outrage among some while others weren’t concerned. Read moreSocial media erupts after Jack Smith files to dismiss Jan. 6 charges against Trump
Jeffrey Fleishman | (TNS) Los Angeles Times The national furor in recent years around banning books on race and gender in public schools is intensifying as President-elect Donald Trump threatens to shut down the Department of Education, emboldening conservatives to end “wokeness” in classrooms. Battles over books in school libraries have become emblematic of the country’s larger culture wars over race, historical revisionism and gender identity. A new report by PEN America found book bans increased by nearly 200% during the 2023-24 school year, including titles on sexuality, substance abuse, depression and other issues students face in an age of accelerating technologies, climate change, toxic politics and fears about the future. Book censorship has shaken and divided school boards, pitted parents against parents, and led to threats against teachers and librarians . It is part of an agenda driven by conservative parental rights groups and politicians who promote charter schools and voucher systems that could weaken public education. The issue goes to the heart not only of what students are taught but how federal and state education policies will affect the nation’s politics after one of the most consequential elections in its history. “It’s not just about taking a book off a shelf,” said Tasslyn Magnusson, an author and teacher from Wisconsin who tracks book censorship across the U.S. “It’s about power and who controls public education. It’s about what kind of America we were and are. We’re trying to define what family is and what America means. That comes down to the stories we tell.” She said she feared Trump’s return to the White House would further incite those calling for book bans: “I don’t have lots of hope. It could get a lot worse.” Over the last year, PEN counted more than 10,000 book bans nationwide that targeted 4,231 unique titles. Most were books dealing with gender, sexuality, race and LGBTQ+ storylines. The most banned title was Jodi Picoult’s “Nineteen Minutes,” about a school shooting that included a short description of date rape. Florida and Iowa — both of which have strict regulations on what students can read — accounted for more than 8,200 bans in the 2023-24 school year. “This crisis is tragic for young people hungry to understand the world they live in and see their identities and experiences reflected in books,” Kasey Meehan, director of PEN’s Freedom to Read Program, said in a statement. “What students can read in schools provides the foundation for their lives.” Trump’s calls to close the Department of Education would need congressional approval, which appears unlikely. Although public schools are largely funded and governed by state and local institutions, the department helps pay to educate students with disabilities, provides about $18 billion in grants for K-12 schools in poor communities and oversees a civil rights branch to protect students from discrimination. But Trump’s election has inspired conservative parental groups, including Moms For Liberty and Parents Defending Education, to strengthen efforts to limit what they see as a liberal conspiracy to indoctrinate children with books and teachings that are perverse, amoral and pornographic. Tiffany Justice, co-founder of Moms for Liberty, has criticized schools that she says spend too much time on diversity and inclusion when only about one-third of U.S. children are reading at grade level: “We’re talking about public school libraries and content for kids,” Justice told NewsNation after Trump’s victory. “I think it’s very clear that there are certain things that are appropriate for kids, certain things that are appropriate for adults. We’re just getting back to commonsense America.” Trump’s threat to deny federal funding to schools that acknowledge transgender identities could affect curricula and the kinds of books school libraries stock. During his rally at Madison Square Garden in October, Trump — who has has accused schools of promoting sex change operations — said his administration would get “transgender insanity the hell out of our schools.” Vice President-elect JD Vance has accused Democrats of wanting to “put sexually explicit books in toddlers’ libraries.” Nicole Neily, president of Parents Defending Education, told Newsmax that she was excited about Trump’s calls to remake education and “clean up a lot of the mess” he has inherited from the Biden administration. Trump “has centered parental rights back in his platform, which is incredible. He has prioritized knowledge and skill, not identity politics,” she said. “American children deserve better, and it is time for change.” In nominating Linda McMahon to be his secretary of Education, Trump appears to be pushing for more conservative parental control over what is taught and read in classrooms. A former professional wrestling executive, McMahon chairs the America First Policy Institute, a Trump-connected organization that has criticized schools for teaching “racially divisive” theories, notably about slavery and a perspective about the nation’s founding it views as anti-American. “Today’s contentious debates over using classrooms for political activism rather than teaching a complete and accurate account of American history have reinvigorated calls for greater parental and citizen involvement in the curriculum approval process,” the institute’s website says. Culturally divisive issues, including race and LGBTQ+ themes, cost school districts an estimated $3.2 billion during the 2023-24 school year, according to a recent study called “The Costs of Conflict.” The survey — published by the Institute for Democracy, Education and Access at UCLA — found that battles over books and teaching about sexuality and other topics led to increased expenses for legal fees, replacing administrators and teachers who quit, and security, including off-duty plainclothes police officers. “Are we really going to spend our tax dollars on these kinds of things?” asked Magnusson. “After Trump was elected, I saw a bunch of middle-class white ladies like me who were saying, ‘This isn’t America.’ But maybe it is America.” One school superintendent in a Western state told the study’s researchers that his staff was often consumed with correcting misinformation and fulfilling public record requests mainly from hard-line parental rights activists attempting to exploit cultural war issues to discredit the district. “Our staff are spending enormous amounts of time just doing stupid stuff,” the superintendent said. “The fiscal costs to the district are enormous, but [so are] the cultural costs of not standing up to the extremists. If someone doesn’t, then the students and employees lose. ... It’s the worst it’s ever been.” The survey found that 29% of 467 school superintendents interviewed reported that teachers and other staff quit their profession or left their districts “due to culturally divisive conflict.” Censoring books in school libraries grew out of opposition to COVID-19 restrictions. A number of conservative parental groups, including Moms for Liberty, which invited Trump to speak at its national convention in August, turned their attention to lobbying against “liberal indoctrination.” Their protests against what they criticized as progressive teaching on sexuality and race were focused on increasing conservative parental control over a public education system that was struggling at teaching children reading and math. That strategy has led to a national, right-wing effort that is “redefining government power to restrict access to information in our schools,” said Stephana Ferrell, co-founder of the Florida Freedom to Read Project. “This movement to protect the innocence of our children believes if children never read it in a book they won’t have to know about it and can go on to lead harmonious lives. But books teach us cautionary tales. They instruct us. You can’t protect innocence through ignorance.” School districts across the country have removed “Gender Queer” by Maia Kobabe and “All Boys Aren’t Blue” by George Johnson, which are about gender identity and include graphic depictions of sex, along with titles by renowned writers such as Toni Morrison, Kurt Vonnegut, George Orwell, Maya Angelou and Flannery O’Connor. Related Articles National Politics | Trump chooses controversial Stanford professor Dr. Jay Bhattacharya to lead NIH National Politics | Trump vows tariffs over immigration. What the numbers say about border crossings, drugs and crime National Politics | Trump promised mass deportations. Educators worry fear will keep immigrants’ kids from school National Politics | Trump team says Israel-Hezbollah ceasefire deal brokered by Biden is actually Trump’s win National Politics | How Trump’s bet on voters electing him managed to silence some of his legal woes Surveys show that most Americans do not favor censorship. The Florida Freedom to Read Project and similar organizations around the country have called for thorough public reviews of challenged books to prevent one scene or passage from being taken out of context. Moderate and liberal parents groups over the last two years have also become more active in school board politics. They have supported school board candidates who have defeated those backed by Moms for Liberty in Texas, Florida and other states. “People say the pendulum will swing back,” said Ferrell. But, she said, conservatives want to “stop the pendulum from swinging back.” Picoult is accustomed to conservatives attempting to censor her. Her books have been banned in schools in more than 30 states. Published in 2007, “Nineteen Minutes” explores the lives of characters, including a girl who was raped, in a town leading up to a school shooting and its aftermath. “Having the most banned book in the country is not a badge of honor. It’s a call for alarm,” said Picoult, whose books have sold more than 40 million copies. “My book, and the 10,000 others that have been pulled off school library shelves this year, give kids a tool to deal with an increasingly divided and difficult world. These book banners aren’t helping children. They are harming them.” ©2024 Los Angeles Times. Visit at latimes.com. Distributed by Tribune Content Agency, LLC.
German authorities say the AfD is far-right extremist and endangers German democracy. According to the US tech billionaire said such ideas about Germany's AfD are "clearly false." Tech billionaire Elon Musk on Saturday restated his backing for Germany's far-right Alternative for Germany (AfD ), calling the party the "last spark of hope" for the country, in an op-ed published by the Welt am Sonntag newspaper. His remarks triggered anger among German politicians, with the country seven weeks away from a snap federal election . Shortly after the piece went online, the editor of the opinion section, Eva Marie Kogel, wrote on X that she had submitted her resignation, with a link to the commentary. What did Elon Musk say? Musk used his commentary to expand on his post on X last week claiming that "only [the] AfD can save Germany." In the editorial, he said the far-right party was the "last spark of hope" for the country. "The portrayal of the AfD as right-wing extremist is clearly false, considering that Alice Weidel , the party's leader, has a same-sex partner from Sri Lanka! Does that sound like Hitler to you? Please!" Musk said in the piece. Calls for EU to sanction Elon Musk for 'interference' To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video In 2021, Germany's domestic intelligence agency classified the AfD at the national level as a suspected extremist organization. Musk went on to claim that the AfD adopts strong positions on issues relating to economic recovery, energy supply and migration control. "The AfD, even though it is described as far-right, represents a political realism that resonates with many Germans who feel that their concerns are ignored by the establishment. It addresses the problems of the moment — without the political correctness that often obscures the truth," the tech billionaire continued. Musk also said the AfD was "committed to a controlled immigration policy that gives priority to integration and the preservation of German culture and security. This is not about xenophobia, but about ensuring that Germany does not lose its identity in the pursuit of globalization." Welt am Sonntag reporters shoot back at Musk op-ed The future editor-in-chief of the Welt group, Jan Philipp Burgard, contradicted the billionaire's statements in his own op-ed, posted next to Musk's. Burgard said: "Musk's diagnosis is correct, but his therapeutic approach, that only the AfD can save Germany, is fatally wrong." Other Welt journalists also posted their disapproval publicly on X. German far-right AfD rallies after Christmas market attack To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Musk's comments seen as timed for snap election Musk's backing of the AfD has sent shockwaves through Berlin, with some lawmakers this week accusing the SpaceX chief of interfering in German politics . On Saturday, former health minister and a lawmaker for the center-right CDU party, Jens Spahn, wrote on X: "Elon Musk says, look beyond the labels of the AfD. Now, let's do it then: The AfD wants to leave NATO, reactivate Nord Stream 2, and is anti-US, pro-Putin and pro-Russia. Is that what the USA wants? A Germany that turns towards Russia and away from the USA? The AfD wants to leave the Eurozone , our by far largest trading partner. We conduct ~40% of our trade within Eurozone. Without the Euro and the EU, the German economy would completely collapse." Spahn said the AfD had also been against the construction of the Tesla factory in Grünheide. Break-up of ruling coalition triggers early elections Germany is set for a snap election on February 23 after the coalition government led by Chancellor Olaf Scholz collapsed last month. The three parties in the coalition had disagreed for more than a year on major policy issues, including the 2025 budget. The AfD is now running second in opinion polls with around 19% support, behind the conservative CDU/CSU alliance with more than 30%. However, Germany's mainstream parties have all ruled out working with AfD at the national level. mm/dj (AFP, DPA)Game Boy classic Donkey Kong Land is on Nintendo Switch Online now - PolygonRecently, OpenAI to turn its for-profit side into a Delaware public benefit corporation, but the transition to for-profit hasn’t been without pushback, especially from Musk. Now, Encode, a nonprofit focused on AI safety, is jumping in to oppose the transition. They’re the same group that backed , which aimed to regulate AI. Despite support from Musk, Geoffrey Hinton, and even actor Mark Ruffalo, . In a proposed brief , Encode stated: OpenAI and its CEO, Sam Altman, claim to be developing society-transforming technology, and those claims should be taken seriously. OpenAI Inc.’s charitable mission is to develop and deploy that transformative technology in a way that is safe and beneficial to the public, and OpenAI’s proposed restructuring into a for-profit enterprise would undermine that commitment. If the world truly is at the cusp of a new age of artificial general intelligence (AGI), then the public has a profound interest in having that technology controlled by a public charity legally bound to prioritize safety and the public benefit rather than an organization focused on generating financial returns for a few privileged investors. This legal tussle adds fuel to the ongoing spat between Altman and Musk. Altman has accused Musk of being a bully who enjoys picking fights. But the opposition doesn't end there. Meta to block OpenAI’s move to go for-profit, saying it could set a risky precedent for other startups. Back in October, it was , valuing the company at $157 billion. This funding is crucial, as they acknowledge . In other news, OpenAI CEO Sam Altman revealed plans to launch the o3 mini model by the end of January 2025, followed by the full o3 model later on. Image via
Vail Resorts, Inc. logo (PRNewsFoto/Vail Resorts, Inc.) BROOMFIELD, Colo. , Dec. 9, 2024 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2025 ended October 31, 2024 , provided season pass sales results for the 2024/2025 season, updated fiscal 2025 net income attributable to Vail Resorts, Inc. guidance and reaffirmed fiscal 2025 Resort Reported EBITDA guidance, announced capital investment plans for calendar year 2025, declared a dividend payable in January 2025 , and announced first quarter share repurchases. Highlights Commenting on the Company's fiscal 2025 first quarter results, Kirsten Lynch , Chief Executive Officer, said, "Our first fiscal quarter historically operates at a loss, given that our North American and European mountain resorts are generally not open for ski season. The quarter's results were driven by winter operations in Australia and summer activities in North America , including sightseeing, dining, retail, lodging, and administrative expenses. "Resort Reported EBITDA was consistent with the prior year, driven by growth in our North American summer business from increased activities spending and lodging results. This growth was offset by a decline in Resort Reported EBITDA of $9 million compared to the prior year from our Australian resorts due to record low snowfall and lower demand, cost inflation, the inclusion of Crans-Montana, and approximately $2.7 million of one-time costs related to the two-year resource efficiency transformation plan and $0.9 million of acquisition and integration related expenses." Regarding the Company's resource efficiency transformation plan, Lynch said, "Vail Resorts continues to make progress on its two-year resource efficiency transformation plan, which was announced in our September 2024 earnings. The two-year Resource Efficiency Transformation Plan is designed to improve organizational effectiveness and scale for operating leverage as the Company grows globally. Through scaled operations, global shared services, and expanded workforce management, the Company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year. We will provide updates as significant milestones are achieved." Turning to season pass results, Lynch said, "Our season pass sales highlight the compelling value proposition of our pass products and our commitment to continually investing in the guest experience at our resorts. Over the last four years, pass product sales for the 2024/2025 North American ski season have grown 59% in units and 47% in sales dollars. For the upcoming 2024/2025 North American ski season, pass product sales through December 3, 2024 decreased approximately 2% in units and increased approximately 4% in sales dollars as compared to the period in the prior year through December 4, 2023 . This year's results benefited from an 8% price increase, partially offset by unit growth among lower priced Epic Day Pass products. Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying an exchange rate of $0.71 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. For the period between September 21, 2024 and December 3, 2024 , pass product sales trends improved relative to pass product sales through September 20, 2024 , with unit growth of approximately 1% and sales dollars growth of approximately 7% as compared to the period in the prior year from September 23, 2023 through December 4, 2023 , due to expected renewal strength, which we believe reflects delayed decision making. "Our North American pass sales highlight strong loyalty with growth among renewing pass holders across all geographies. For the full selling season, the Company acquired a substantial number of new pass holders, however the absolute number of new guests was smaller compared to the prior year, driving the overall unit decline for the full selling season. New pass holders come from lapsed guests, prior year lift ticket guests, and new guests to our database. The Company achieved growth from lapsed guests, who previously purchased a pass or lift ticket but did not buy a pass or lift ticket in the previous season. The decline in new pass holders compared to the prior year was driven by fewer guests who purchased lift tickets in the past season and from guests who are completely new to our database, which we believe was impacted by last season's challenging weather and industry normalization. Epic Day Pass products achieved unit growth driven by the strength in renewing pass holders. We expect to have approximately 2.3 million guests committed to our 42 North American, Australian, and European resorts in advance of the season in non-refundable advance commitment products this year, which are expected to generate over $975 million of revenue and account for approximately 75% of all skier visits (excluding complimentary visits)." Lynch continued, "Heading into the 2024/2025 ski season, we are encouraged by our strong base of committed guests, providing meaningful stability for our Company. Additionally, early season conditions have allowed us to open some resorts earlier than anticipated, including Whistler Blackcomb, Heavenly, Northstar, Kirkwood, and Stevens Pass. Early season conditions have also enabled our Rockies resorts to open with significantly improved terrain relative to the prior year, including the opening of the legendary back bowls at Vail Mountain opening the earliest since 2018. Our resorts in the East are experiencing typical seasonal variability for this point in the year, with all resorts planned to open ahead of the holidays. We are continuing to hire for the winter season, and are on track with our staffing plans and have achieved a strong return rate of our frontline employees from the prior season. Lodging bookings at our U.S. resorts for the upcoming season are consistent with last year. At Whistler Blackcomb, lodging bookings for the full season are lagging prior year levels, which may reflect delayed decision making following challenging conditions in the prior year." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the first fiscal quarter ended October 31, 2024 , which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Lodging Segment Resort - Combination of Mountain and Lodging Segments Real Estate Segment Total Performance Outlook The Company's Resort Reported EBITDA guidance for the year ending July 31, 2025 is unchanged from the prior guidance provided on September 26, 2024 . The Company is updating its guidance for net income attributable to Vail Resorts, Inc., which it now expects to be between $240 million and $316 million , up from the prior guidance range of $224 million to $300 million . The primary difference is due to a $17 million increase from the gain on sale of real property related to the resolution of the October 2023 Eagle County District Court final ruling and valuation regarding the Town of Vail's condemnation of the Company's East Vail property that was planned for Vail Resorts' incremental affordable workforce housing project, a transaction that has been recorded as Real Estate Reported EBITDA. Additionally, the guidance is updated to include a decrease in expected interest expense of approximately $2 million which assumes that interest rates remain at current levels for the remainder of fiscal 2025. These changes have no impact on expected Resort Reported EBITDA. The Company continues to expect Resort Reported EBITDA for fiscal 2025 to be between $838 million and $894 million , including approximately $27 million of cost efficiencies and an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan, and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. As compared to fiscal 2024, the fiscal 2025 guidance includes the assumed benefit of a return to normal weather conditions after the challenging conditions in fiscal 2024, more than offset by a return to normal operating costs and the impact of the continued industry normalization, impacting demand. Additionally, the guidance reflects the negative impact from the record low snowfall and related shortened season in Australia in the first quarter of fiscal 2025, which negatively impacted demand and resulted in a $9 million decline of Resort Reported EBITDA compared to the prior year period. After considering these items, we expect Resort Reported EBITDA to grow from price increases and ancillary spending, the resource efficiency transformation plan, and the addition of Crans-Montana for the full year. The guidance also assumes (1) a continuation of the current economic environment, (2) normal weather conditions for the 2024/2025 North American and European ski season and the 2025 Australian ski season, and (3) the foreign currency exchange rates as of our original fiscal 2025 guidance issued September 26, 2024 . Foreign currency exchange rates have experienced recent volatility. Relative to the current guidance, if the currency exchange rates as of yesterday, December 8, 2024 of $0.71 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada , $0.64 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia , and $1.14 between the Swiss Franc and U.S. Dollar related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland were to continue for the remainder of the fiscal year, the Company expects this would have an impact on fiscal 2025 guidance of approximately negative $5 million for Resort Reported EBITDA. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2025 for Total Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Total Reported EBITDA guidance. Liquidity and Return of Capital As of October 31, 2024 , the Company's total liquidity as measured by total cash plus revolver availability was approximately $1,024 million . This includes $404 million of cash on hand, $407 million of U.S. revolver availability under the Vail Holdings Credit Agreement, and $213 million of revolver availability under the Whistler Credit Agreement. As of October 31, 2024 , the Company's Net Debt was 2.8 times its trailing twelve months Total Reported EBITDA. Regarding the return of capital to shareholders, the Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock payable on January 9, 2025 to shareholders of record as of December 26 , 2024. In addition, the Company repurchased approximately 0.1 million shares during the quarter at an average price of approximately $174 for a total of $20 million . The Company has 1.6 million shares remaining under its authorization for share repurchases. Commenting on capital allocation, Lynch said, "We will continue to be disciplined stewards of our shareholders' capital, prioritizing investments in our guest and employee experience, high-return capital projects, strategic acquisition opportunities, and returning capital to our shareholders. The Company has a strong balance sheet and remains focused on returning capital to shareholders while always prioritizing the long-term value of our shares." Capital Investments Vail Resorts is committed to enhancing the guest experience and supporting the Company's growth strategies through significant capital investments. For calendar year 2025, the Company plans to invest approximately $198 million to $203 million in core capital, before $45 million of growth capital investments at its European resorts, including $41 million at Andermatt-Sedrun and $4 million at Crans-Montana, and $6 million of real estate related capital projects to complete multi-year transformational investments at the key base area portals of Breckenridge Peak 8 and Keystone River Run, and planning investments to support the development of the West Lionshead area into a fourth base village at Vail Mountain. Including European growth capital investments, and real estate related capital, the Company plans to invest approximately $249 million to $254 million in calendar year 2025. Projects in the calendar year 2025 capital plan described herein remain subject to approvals. In calendar year 2025, the Company will embark on two multi-year transformational investment plans at Park City Mountain and Vail Mountain. In addition to embarking on two multi-year transformational investment plans, the Company is planning significant investments across the guest experience in calendar year 2025, including: In addition to the investments planned for calendar year 2025, the Company is completing significant investments that will enhance the guest experience for the upcoming 2024/2025 North American and European ski season. As previously announced, the Company expects its capital plan for calendar year 2024 to be approximately $189 million to $194 million , excluding $13 million of incremental capital investments in premium fleet and fulfillment infrastructure to support the official launch of My Epic Gear for the 2024/2025 winter season at 12 destination and regional resorts across North America , $7 million of growth capital investments at Andermatt-Sedrun, $2 million of maintenance and $2 million of integration investments at Crans-Montana, and $3 million of reimbursable capital. Including these one-time investments, the Company's total capital plan for calendar year 2024 is now expected to be approximately $216 million to $221 million . Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 579-2543 (U.S. and Canada ) or +1 (785) 424-1789 (international). The conference ID is MTNQ125. A replay of the conference call will be available two hours following the conclusion of the conference call through December 16, 2024 , at 11:59 p.m. eastern time . To access the replay, dial (800) 753-9146 (U.S. and Canada ) or +1 (402) 220-2705 (international). The conference call will also be archived at www.vailresorts.com . About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge , Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America ; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland ; and Perisher, Hotham, and Falls Creek in Australia . We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America . Learn more about our company at www.VailResorts.com , or discover our resorts and pass options at www.EpicPass.com . Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; our expectations regarding our resource efficiency transformation plan; and the payment of dividends. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe , or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , which was filed on September 26, 2024 . All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures.
Experts Predict Record Snowfall for Pacific Northwest: Here's How To Make the Most of This Ski SeasonAAR to announce second quarter fiscal year 2025 results on January 7, 2025
Georgia quarterback Carson Beck announced Saturday that he will forgo his final year of eligibility and enter the 2025 NFL Draft. Beck, 22, led the Southeastern Conference with 28 touchdown passes and finished third in the SEC with 3,485 passing yards. He also led the conference in interceptions, however. Beck will be a spectator for the Bulldogs in the College Football Playoff after undergoing surgery Monday to repair the ulnar collateral ligament in his right (throwing) elbow. Gunner Stockton is in line to guide No. 2 seed Georgia into the CFP, starting with the Bulldogs' quarterfinal game against No. 7 seed Notre Dame at the Sugar Bowl on Wednesday in New Orleans. "There's unfinished business still this season and I'll be here to support however I can, finish strong!" Beck said in a statement posted on social media. Beck, a fifth-year senior, finished with a 24-3 record in his career with Georgia. "The past five years at the University of Georgia have been nothing short of a dream come true and I will forever cherish the memories that have been made. Thank you Dawg Nation for the time I've been here and to those who've supported and believed in me, thank you," Beck wrote on social media. "It's been an incredible journey and all these moments have ultimately led me to take the next step in my football career. With that being said, I will be declaring for the 2025 NFL Draft. Go Dawgs!" Beck, the Bulldogs' starter all year, was replaced in the second half of the SEC title game with the injury. Stockton helped to guide the Bulldogs to a 22-19 overtime win over Texas and clinch a first-round bye in the first 12-team playoff. --Field Level Media