Thomas H. Lee Partners Acquires House of Design

NAMPA, Idaho & BOSTON–(BUSINESS WIRE)–Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies, announced today that it has acquired a majority interest in House of Design LLC (the “Company”), a leading provider of robotic automation systems and software for the residential construction market. THL’s investment will strengthen House of Design’s existing capabilities and provide capital and resources for future growth investments. House of Design’s co-founders will hold minority positions in the Company. Terms of the transaction were not disclosed.

Founded in 2012 and based in Nampa, Idaho, House of Design is a leading provider of automated solutions for the building components and residential offsite construction industries. The Company designs and engineers robotic systems that increase component manufacturers’ production output and capacity while reducing the challenges of labor shortages. Proprietary software makes House of Design’s system the only fully automated system that can produce complex variable trusses and wall panels without robot retraining or resetting.

THL’s investment in House of Design will accelerate the Company’s ability to build upon its leading robotic technology and software platform and accelerate new product innovation for its customers.

“Our partnership with THL is a monumental milestone for the Company,” said Shane Dittrich and Ryan Okelberry, Co-Founders of House of Design. “THL brings the expertise and sophistication needed to reach the next stage in our Company’s growth, and we have a shared vision for how to get there. We are excited to partner with THL and leverage their deep automation expertise and financial and operational resources to fuel House of Design’s growth strategy.”

“We are thrilled to partner with the House of Design team,” said Mike Kaczmarek, Managing Director at THL. “Persistent labor scarcity in the construction industry is driving greater need for automated solutions, and House of Design’s offerings help address labor shortage and worker safety challenges while providing an attractive ROI to the customer. THL is excited to support House of Design in continuously growing and innovating its product offerings to help customers increase production throughput and revenue.”

Stifel acted as financial advisor, Kirkland & Ellis LLP acted as legal advisor and PwC acted as accounting and tax advisor to THL. PEAK Technology Partners, a San Francisco based investment bank, acted as the exclusive financial advisor and Stoel Rives acted as legal advisor to House of Design.

About House of Design

House of Design has established itself as a thought leader and premier provider of robotic solutions, dynamic software applications, and system integration services. Through a multitude of successful automation projects across varied industries, House of Design is recognized as an innovative, collaborative partner committed to the success of the clients it serves.

Founded in 2012 by two engineers, House of Design has grown to 100+ employees and one of the largest robotic integrators in the West. Over the last ten years House of Design has been recognized nationally for its innovation in the robotics industry and as a small business leader in Idaho. The company’s vision is to ensure that execution matches strategy, emerging opportunities are captured, and team members grow, prosper and their work changes the world.

For more information, please visit www.thehouseofdesign.com.

About Thomas H. Lee Partners

Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle market growth companies exclusively in three sectors: Financial Services, Healthcare and Technology & Business Solutions. THL couples deep sector expertise with dedicated internal operating resources to transform and build great companies of lasting value in partnership with management. The Firm’s domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, THL has raised more than $30 billion of equity capital, invested in over 160 companies and completed more than 500 add-on acquisitions representing an aggregate enterprise value at acquisition of over $210 billion. THL invests in automation companies through its flagship private equity fund and a dedicated automation fund. For more information, please visit www.thl.com.

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Companies Stay Quiet on Texas’ New Abortion Law

On Friday, some Silicon Valley technology companies began speaking out, too.

Lyft’s chief executive, Logan Green, said the company would pay the legal costs of any drivers who faced lawsuits under the law. “TX SB8 threatens to punish drivers for getting people where they need to go — especially women exercising their right to choose,” he wrote on Twitter.

Uber’s chief executive, Dara Khosrowshahi, said on Twitter that his company would also cover its drivers’ legal expenses.

And Jeremy Stoppelman, the chief executive of Yelp, issued a statement. “The effective ban on abortions in Texas not only infringes on women’s rights to reproductive health care, but it puts their health and safety at greater risk,” he said. “We are deeply concerned about how this law will impact our employees in the state.”

A couple executives tried to find a middle ground, cheering on democracy and opposing discrimination while remaining silent on the Texas law.

Mr. Musk, who said he has moved to Texas and was investing a lot in the state through Tesla and SpaceX, was among them. “In general, I believe government should rarely impose its will upon the people, and, when doing so, should aspire to maximize their cumulative happiness,” he wrote on Twitter in response to Mr. Abbott’s comments. “That said, I would prefer to stay out of politics.”

Hewlett Packard Enterprise, based in Houston, declined to comment on the ban, but said the company “encourages our team members to engage in the political process where they live and work and make their voices heard through advocacy and at the voting booth.”

A spokesman for the company added that its medical plan allowed employees to seek abortions out of state, and would pay for lodging for such a trip.

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Hurricane Ida Exposes Grid Weaknesses as New Orleans Goes Dark

Most of New Orleans went dark on Sunday after Hurricane Ida took out transmission lines and forced power plants offline. It was an all too familiar scene in a city that has often lost power during big storms.

But this was an outage that was never supposed to happen. The utility company Entergy opened a new natural gas power plant in the city last year, pledging that it would help keep the lights on — even during hot summer days and big storms. It was one of two natural gas plants commissioned in recent years in the New Orleans area, the other one hailed by Gov. John Bel Edwards last year as a “source of clean energy that gives our state a competitive advantage and helps our communities grow.”

The storm raises fresh questions about how well the energy industry has prepared for natural disasters, which many scientists believe are becoming more common because of climate change. This year, much of Texas was shrouded in darkness after a winter storm, and last summer officials in California ordered rolling blackouts during a heat wave.

More than a million residential and commercial customers in Louisiana were without power on Monday afternoon, and Entergy and other utilities serving the state said it would take days to assess the damage to their equipment and weeks to fully restore service across the state. One customer can be a family or a large business, so the number of people without power is most likely many times higher. In neighboring Mississippi, just under 100,000 customers were without power.

some of California’s largest and deadliest wildfires.

impossible for Texas to import power by keeping the state grid largely isolated from the rest of the country to avoid federal oversight.

add more transmission lines to carry more solar and wind power from one region of the country to another. But some energy experts said the increasing frequency of devastating hurricanes, wildfires and other disasters argues against a big investment in power lines and for greater investment in smaller-scale systems like rooftop solar panels and batteries. Because small systems are placed at many homes, businesses, schools and other buildings, some continue to function even when others are damaged, providing much-needed energy during and after disasters.

Susan Guidry, a former member of the New Orleans City Council who voted against the Entergy plant, said she had worried that a storm like Ida could wreak havoc on her city and its energy system. She had wanted the city and utility to consider other options. But she said her fellow Council members and the utility had ignored those warnings.

“They said that they had dealt with that problem,” Ms. Guidry said. “The bottom line is they should have instead been upgrading their transmission and investing in renewable energy.”

Numerous community groups and city leaders opposed the gas-fired power plant, which is just south of Interstate 10 and Lake Pontchartrain, bordering predominantly African American and Vietnamese American neighborhoods. Nevertheless, the City Council approved the plant, which began commercial operations in May 2020. It generates power mainly at times of peak demand.

About a year earlier, Entergy opened a larger gas power plant in nearby St. Charles Parish. Leo P. Denault, Entergy’s chairman and chief executive, last year called that plant “a significant milestone along the clean energy journey we began more than 20 years ago.”

Some utilities have turned to burying transmission lines to protect them from strong winds and storms, but Mr. Gasteiger said that was expensive and could cause its own problems.

“Generally speaking, it’s not that the utilities are not willing to do it,” he said. “It’s that people aren’t willing to pay for it. Usually it’s a cost issue. And undergrounding can make it more difficult to locate and fix” problems.

Big changes to electric grids and power plants are likely to take years, but activists and residents of New Orleans say officials should explore solutions that can be rolled out more quickly, especially as tens of thousands of people face days or weeks without electricity. Some activists want officials to put a priority on investments in rooftop solar, batteries and microgrids, which can power homes and commercial buildings even when the larger grid goes down.

“We keep walking by the solutions to keep people safe in their homes,” said Logan Atkinson Burke, executive director of the Alliance for Affordable Energy, a consumer group based in New Orleans. “When these events happen, then we’re in crisis mode because instead we’re spending billions of dollars every year now to rebuild the same system that leaves people in the dark, in a dire situation.”

Some residents have already invested in small-scale energy systems for themselves. Julie Graybill and her husband, Bob Smith, installed solar panels and batteries at their New Orleans home after Hurricane Isaac blew through Louisiana in 2012. They lost power for five days after Isaac, at times going to their car for air-conditioning with their two older dogs, said Ms. Graybill, 67, who retired from the Tulane University School of Medicine.

“We would sit in the car about every hour,” she said. “My husband said, ‘We are never doing this again.’” Mr. Smith, 73, who is also retired, worked as an engineer at Royal Dutch Shell, the oil company.

The couple have set up a little power station on their porch so neighbors can charge their phones and other items. Only a few other homes on their street have solar panels, but no one else nearby has batteries, which can store the power that panels generate and dispense it when the grid goes down.

“We’re told we’re not going to have power for three weeks,” Ms. Graybill said. “The only people who have power are people with generators or solar panels. We lived through Katrina. This is not Katrina, so we’re lucky.”

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After Trumka’s Death, A.F.L.-C.I.O. Faces a Crossroads

Richard Trumka’s 12 years as A.F.L.-C.I.O. president coincided with the continued decline of organized labor but also moments of opportunity, like the election of a devoutly pro-labor U.S. president. With Mr. Trumka’s death last week, the federation faces a fundamental question: What is the A.F.L.-C.I.O.’s purpose?

For years, top union officials and senior staff members have split into two broad camps on this question. On one side are those who argue that the A.F.L.-C.I.O., which has about 12 million members, should play a supporting role for its constituent unions — that it should help build a consensus around policy and political priorities, lobby for them in Washington, provide research and communications support, and identify the best ways to organize and bargain.

On the other side of the debate are those who contend that the federation should play a leading role in building the labor movement — by investing resources in organizing more workers; by gaining a foothold in new sectors of the economy; by funding nontraditional worker organizations, like those representing undocumented workers; and by forging deeper alliances with other progressive groups, like those promoting civil rights causes.

As president, Mr. Trumka identified more with the first approach, which several current and former union officials said had merit, particularly in light of his close ties to President Biden. Liz Shuler, who has served as acting president since Mr. Trumka’s death and hopes to succeed him, is said to have a similar orientation.

documents obtained by the website Splinter.

Ms. Shuler said in an interview on Friday that the department’s budget did not reflect other resources that go toward organizing, like the millions of dollars that the A.F.L.-C.I.O. sends to state labor federations and local labor councils, which can play an important role in organizing campaigns.

Although the rate of union membership fell by about 1.5 percentage points during Mr. Trumka’s tenure to under 11 percent, his influence in Washington helped lead to several accomplishments. Among them were a more worker-friendly revision of the North American Free Trade Agreement, tens of billions of dollars in federal aid to stabilize union pension plans and a job-creating infrastructure bill now moving through Congress.

sent hundreds of billions of dollars in aid to state and local governments, which public sector unions, increasingly the face of the labor movement, considered a lifeline.

But the cornerstone of Mr. Trumka’s plan to revive labor was a bill still awaiting enactment: the Protecting the Right to Organize Act, or PRO Act. The legislation would make unionizing easier by forbidding employers from requiring workers to attend anti-union meetings and would create financial penalties for employers that flout labor law. The federation invested heavily in helping to elect public officials who could help pass the measure.

During an interview with The New York Times in March, Mr. Trumka characterized the PRO Act as, in effect, labor’s last best hope. Because of growing inequality, our economy is on a trajectory to implosion,” he said. “We have to have a way for workers to have more power and employers to have less. And the best way do that is to have the PRO Act.”

Ms. Shuler echoed that point, arguing that labor will be primed for a resurgence if the measure becomes law. “We have everything in alignment,” she said. “The only thing left is the PRO Act to unleash what I would say is the potential for unprecedented organizing.”

But so far, placing most of labor’s hopes on a piece of legislation strongly opposed by Republicans and the business community has proved to be a dubious bet. While the House passed the bill in March and Mr. Biden strongly supports it, the odds are long in a divided Senate.

When asked whether the A.F.L.-C.I.O. could support Mr. Biden’s multitrillion-dollar jobs plan if it came to a vote with no prospect of passing the PRO Act as well, Mr. Trumka refused to entertain the possibility that he would have to make such a decision.

video game industry and other technology sectors.

Such funding can help support workers who want to help organize colleagues in their spare time, as well as a small cadre of professionals to assist them. “You have 100 people who you pay $25,000 per year, and 15 people full time, and the people can build something where they live,” Mr. Cohen said.

Stewart Acuff, the A.F.L.-C.I.O.’s organizing director from 2002 to 2008 and then a special assistant to its president, said the federation’s role in organizing should include more than just directly funding those efforts. He said it was essential to make adding members a higher priority for all of organized labor, as he sought to do under Mr. Trumka’s predecessor.

“We were challenging every level of the labor movement to spend 30 percent of their resources on growth,” said Mr. Acuff, who has criticized the direction of the federation under Mr. Trumka. “That didn’t just mean organizers. It meant using access to every point of leverage,” like pressuring companies to be more accepting of unions.

Mr. Acuff also said that the A.F.L.-C.I.O. must be more willing to place long bets on organizing workers that may not pay off with more members in the short term, but that help build power and leverage for workers.

succeeded in many ways even though it has produced few if any new union members. The A.F.L.-C.I.O. has supported the Fight for $15 but not provided direct financial backing.

Mr. Cohen and Mr. Acuff both cited the importance of building long-term alliances with outside groups — like those championing civil rights or immigrant rights or environmental causes — which can increase labor’s power to demand, say, that an employer stand down during a union campaign.

speech he made in Ferguson, Mo., after a young Black man, Michael Brown, was shot to death by a police officer there in 2014.

But Mr. Trumka faced a backlash on this front from more conservative unions, who believed the proper role of the A.F.L.-C.I.O. was to focus on economic issues affecting members rather than questions like civil rights.

“There were some unions — not just the building trades — who felt like that work was not what we should be focusing on,” Carmen Berkley, a former director of the A.F.L.-C.I.O.’s Civil, Human and Women’s Rights Department, said in an interview last year.

argued for diverting much of the tens of millions of dollars the labor movement spends on political activities to help more workers unionize.

But Ms. Shuler insists that deciding between investing in organizing and the federation’s other priorities is a false choice.

“I don’t think that they are mutually exclusive,” she said. “The way modern organizations work, you no longer have heavy institutional budgets that are full of line items. We organize around action. We identify a target where there’s heat.” Then, she said, the organizations raise money and get things done.

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BuzzFeed Is Going Public. Now What for Vox Media, Group Nine and Vice?

“For us, it’s a question of ambition and opportunity, and we are ambitious,” said Jim Bankoff, Vox Media’s chief executive. “We are going to evaluate our options, but we’re going to do it from a position of strength.” He would not comment on financial details or any potential deals.

Group Nine had talks with major publishers, including Vox Media, about a possible merger for its own SPAC listing, but so far none have materialized, according to three people with knowledge of the matter. Ben Lerer, the head of Group Nine, said in an interview that the company was “in an enviable position” given its recent sales growth.

“The SPAC obviously allows us to be even more ambitious,” he said.

An option for Group Nine would be a deal with one of its largest backers: Discovery Inc. The media giant recently orchestrated a daring takeover of WarnerMedia in an effort to better compete in streaming. Group Nine’s properties have helped drive hundreds of thousands of new customers to Discovery’s streaming platform through content partnerships, making it an attractive takeover target.

The digital ad market thrived during the pandemic, as people started spending more online; BuzzFeed, Vox Media and Group Nine all benefited. Still, their gains were nothing compared with the amounts brought in by the digital giants.

“Facebook, Google and Amazon’s crumbs are Vox, Group Nine and Buzzfeed’s cake,” said Brian Wieser, the lead analyst at GroupM, the media investing arm of the ad company WPP.

That disparity underlines the need of the ad-driven publishers to keep getting bigger.

BuzzFeed’s entry into the public markets is likely to give it an advantage. In addition to cash, it will be able to use its stock as currency to make another deal along the lines of its HuffPost purchase.

“We’ll have opportunities to pursue more acquisitions, and there are more exciting companies out there that we want to pursue,” Jonah Peretti, a BuzzFeed co-founder and the chief executive, said last month.

When asked if BuzzFeed would consider entering the subscription business, he said in a recent interview: “Sure, we’d consider it. Why not?”

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Invitation Homes & PulteGroup Form Strategic Relationship For Purchase Of Approximately 7,500 New Homes

DALLAS–(BUSINESS WIRE)–Invitation Homes Inc. (NYSE: INVH)(“Invitation Homes” or the “Company”) , the nation’s premier single-family home leasing company, and PulteGroup, Inc. (NYSE: PHM), the nation’s third largest homebuilder, announced today the formation of an innovative strategic relationship. As part of this relationship, Invitation Homes expects to purchase approximately 7,500 new homes over the next five years that PulteGroup will design and build expressly for this purpose.

The companies have already reached agreement on the construction and sale of over 1,000 homes across seven communities over the next several years, with the first sales expected to close in 2022. Initial projects are scheduled for delivery in Florida, Georgia, Southern California, North Carolina and Texas.

At Invitation Homes, we’re committed to serving the growing share of Americans who are opting not to buy a house by providing high-quality homes with valued features such as close proximity to jobs and access to good schools,” said Dallas Tanner, President and CEO of Invitation Homes. “We’re thrilled that this strategic relationship with PulteGroup further strengthens that commitment while also enhancing our multichannel acquisition approach to growth.”

We have been evaluating potential structures for participating in the single-family rental market that would seek to capitalize on our strengths in community development and new-home construction while delivering high returns,” said Ryan Marshall, PulteGroup President and CEO. “We are excited to be working with an industry leader in Invitation Homes, and believe this relationship will allow us to increase our scale in our existing markets, make investing in larger land parcels more practical, and generate attractive risk adjusted returns.”

About Invitation Homes

Invitation Homes is the nation’s premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company’s mission, “Together with you, we make a house a home,” reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents’ living experiences.

About PulteGroup

PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.

For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroup.com; www.pulte.com; www.centex.com; www.delwebb.com; www.divosta.com; www.jwhomes.com; and www.americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to the Company’s expectations regarding the performance of the Company’s business, its financial results, its liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the single-family rental industry and the Company’s business model, macroeconomic factors beyond the Company’s control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association (“HOA”) fees, and insurance costs, the Company’s dependence on third parties for key services, risks related to the evaluation of properties, poor resident selection and defaults and non-renewals by the Company’s residents, performance of the Company’s information technology systems, risks related to the Company’s indebtedness, and risks related to the potential negative impact of the ongoing COVID-19 pandemic on the Company’s financial condition, results of operations, cash flows, business, associates, and residents. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Moreover, many of these factors have been heightened as a result of the ongoing and numerous adverse impacts of COVID-19. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.

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Konfidis Closes Oversubscribed $2 Million Seed Round to Enable Better Residential Real Estate Investing & Management Platform Leveraging Technology and Big Data

TORONTO–(BUSINESS WIRE)–Konfidis Inc. (Konfidis), Canada’s leading and comprehensive service provider to enable better investor access to the Canadian residential real estate sector, is pleased to announce that it has closed an oversubscribed non-brokered $2 million private placement seed financing round. Konfidis is excited to welcome its new strategic and value-add investors including its accomplished Advisory Board members.

With Canada’s leading technology platform for residential real estate investing and a rapidly growing technology-enabled and investor-focused residential real estate brokerage subsidiary, Konfidis Realty Inc., this injection of funds will bolster Konfidis’ growth strategy and boost various enhancements to the platform serving both single-property investors and those accumulating residential property portfolios, as well as Konfidis’ tenant marketplace to support a new age of rental housing solutions and service.

“We are excited to provide new and innovative technology solutions for our clients and partners to enable simple access to better Canadian residential real estate investment opportunities,” said Mr. Asher. “We’ve witnessed the success of technology-enabled residential real estate investing, including the Single-Family Rental (SFR) Home asset class, and we’re here to provide investors with such opportunities in Canada where there are compelling long-term supply and demand fundamentals supporting outsized risk-adjusted return potential.”

Konfidis is dedicated to delivering an exciting new offering for tenants seeking high-quality and dependable long-term rental housing solutions. “Recent news headlines continuously highlight how buyers have been priced out of the market, and this is especially problematic for families who wish to rent in a specific school district, for example, given the acute shortage of quality single-family homes available for rent in those districts. In addition, landlords are by-and-large mom-and-pop owner-managers and unfortunately great tenants do sometimes have poor experiences and fear sudden eviction if the landlord decides to move into the property. We believe our professional and tenant-first offering will deliver comfort and security of tenure to longer-term renters with a high level of service,” said John Asher, President and Co-Founder of Konfidis Inc.

“The current residential real estate landscape is dominated by resources that serve owner-occupier families. Konfidis provides an investor-focused suite of tools that are not restricted to local knowledge only, rather we scour a wider geographic region for the best investment opportunities driven by technology and big data and without emotion,” said Jared Kalish, Executive Chairman and Co-Founder of Konfidis Inc. “We believe that KonfidisRANKTM, our proprietary acquisition software, which utilizes 100+ million data points to search and evaluate tens of thousands of opportunities in real-time across different cities, will enable our clients to outperform the market. We’re fortunate to have an extremely talented technology team which is applying top tier big data and machine learning techniques to leverage a wide and innovative array or datasets to continuously improve upon the KonfidisRANKTM scoring methodologies to better forecast which properties will outperform the market over the long-run and generate alpha for our clients.”

Konfidis strives to democratize residential real estate investing which has historically been challenged by limited analysis tools and a lack of turn-key management solutions. Konfidis provides full-service support for its clients to evaluate and acquire investment properties with the most compelling risk-adjusted return characteristics through top-down geographic region analysis and bottom-up rental income and total return analysis; and supports the comprehensive management of those investment properties on behalf of its clients. Konfidis believes in rigorous investment opportunity due diligence practices and best-in-class governance and risk-mitigation practices; such principles are instilled in Konfidis’ product and service offering.

“On a total return basis, the Canadian residential real estate sector has been among the best performing and highly liquid asset classes globally. Canada benefits from strong population, employment, and demographic trends that bolster accelerating demand for housing,” said Shael Soberano, Chief Investment Officer of Konfidis. “Notwithstanding these strong demand drivers, there continues to be a significant undersupply of housing. Such mismatch supports continued outperformance of this asset class, especially in an inflationary environment, and will force private sector investment to innovate new housing solutions. Konfidis is dedicated to supporting investors that are seeking to benefit from these dynamics while providing Canadian families enhanced quality housing, and flexible alternatives.”

About Konfidis

Konfidis Inc. is Canada’s leading full-service realtor brokerage and technology service provider for Canadian residential real estate investors. Konfidis strives to democratize residential real estate investing, which has historically been challenged by limited analysis tools and a lack of turn-key management solutions. Konfidis provides full-service support for its clients to evaluate and acquire investment properties with the most compelling risk-adjusted return characteristics through top-down geographic regional analysis, bottom-up rental income, and total return analysis; and supports the comprehensive management of those investment properties on behalf of its clients. As a core principle, Konfidis is dedicated to delivering enhanced solutions for Canadian families seeking high-quality and dependable long-term rental housing alternatives.

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U.S. Aid to Central America Hasn’t Slowed Migration. Can Kamala Harris?

SAN ANTONIO HUISTA, Guatemala — An American contractor went to a small town in the Guatemalan mountains with an ambitious goal: to ignite the local economy, and hopefully even persuade people not to migrate north to the United States.

Half an hour into his meeting with coffee growers, the contractor excitedly revealed the tool he had brought to change their lives: a pamphlet inviting the farmers to download an app to check coffee prices and “be a part of modern agriculture.”

Pedro Aguilar, a coffee farmer who hadn’t asked for the training and didn’t see how it would keep anyone from heading for the border, looked confused. Eyeing the U.S. government logo on the pamphlet, he began waving it around, asking if anyone had a phone number to call the Americans “and tell them what our needs really are.”

soared in 2019 and is on the upswing once more.

have risen, malnutrition has become a national crisis, corruption is unbridled and the country is sending more unaccompanied children to the United States than anywhere else in the world.

That is the stark reality facing Ms. Harris as she assumes responsibility for expanding the same kind of aid programs that have struggled to stem migration in the past. It is a challenge that initially frustrated her top political aides, some of whom viewed the assignment from Mr. Biden as one that would inevitably set her up for failure in the first months of her tenure.

Her allies worried that she would be expected to solve the entire immigration crisis, irked that the early reports of her new duties appeared to hold her responsible for juggling the recent surge of children crossing the border without adults.

linked to drug traffickers and accused of embezzling American aid money, the leader of El Salvador has been denounced for trampling democratic norms and the government of Guatemala has been criticized for persecuting officials fighting corruption.

Even so, Ms. Harris and her advisers have warmed to the task, according to several people familiar with her thinking in the White House. They say it will give her a chance to dive squarely into foreign policy and prove that she can pass the commander-in-chief test, negotiating with world leaders on a global stage to confront one of America’s most intractable issues.

critics denounced as unlawful and inhumane. Moreover, members of the current administration contend that Mr. Trump’s decision to freeze a portion of the aid to the region in 2019 ended up blunting the impact of the work being done to improve conditions there.

But experts say the reasons that years of aid have not curbed migration run far deeper than that. In particular, they note that much of the money is handed over to American companies, which swallow a lot of it for salaries, expenses and profits, often before any services are delivered.

Record numbers of Central American children and families were crossing, fleeing gang violence and widespread hunger.

independent studies have found.

“All activities funded with U.S.A.I.D.’s foreign assistance benefit countries and people overseas, even if managed through agreements with U.S.-based organizations,” said Mileydi Guilarte, a deputy assistant administrator at U.S.A.I.D. working on Latin America funding.

But the government’s own assessments don’t always agree. After evaluating five years of aid spending in Central America, the Government Accountability Office rendered a blunt assessment in 2019: “Limited information is available about how U.S. assistance improved prosperity, governance, and security.”

One U.S.A.I.D. evaluation of programs intended to help Guatemalan farmers found that from 2006 to 2011, incomes rose less in the places that benefited from U.S. aid than in similar areas where there was no intervention.

Mexico has pushed for a more radical approach, urging the United States to give cash directly to Central Americans affected by two brutal hurricanes last year. But there’s also a clear possibility — that some may simply use the money to pay a smuggler for the trip across the border.

The farmers of San Antonio Huista say they know quite well what will keep their children from migrating. Right now, the vast majority of people here make their money by selling green, unprocessed coffee beans to a few giant Guatemalan companies. This is a fine way to put food on the table — assuming the weather cooperates — but it doesn’t offer much more than subsistence living.

Farmers here have long dreamed of escaping that cycle by roasting their own coffee and selling brown beans in bags to American businesses and consumers, which brings in more money.

“Instead of sending my brother, my father, my son to the United States, why not send my coffee there, and get paid in dollars?” said Esteban Lara, the leader of a local coffee cooperative.

But when they begged a U.S. government program for funding to help develop such a business, Ms. Monzón said, they were told “the money is not designed to be invested in projects like that.”

These days, groups of her neighbors are leaving for the United States every month or two. So many workers have abandoned this town that farmers are scrambling to find laborers to harvest their coffee.

One of Ms. Monzón’s oldest employees, Javier López Pérez, left with his 14-year-old son in 2019, during the last big wave of Central American migration to the United States. Mr. López said he was scaling the border wall with his son when he fell and broke his ankle.

“My son screamed, ‘Papi, no!’ and I said to him, ‘Keep going, my son,’” Mr. López said. He said his son made it to the United States, while he returned to San Antonio Huista alone.

His family was then kicked out of their home, which Mr. López had given as collateral to the person who smuggled him to the border. The house they moved into was destroyed by the two hurricanes that hit Guatemala late last year.

Ms. Monzón put Mr. López in one of her relatives’ houses, then got the community to cobble together money to pay for enough cinder blocks to build the family a place to live.

While mixing cement to bind the blocks together, one of Mr. López’s sons, Vidal, 19, confessed that he had been talking to a smuggler about making the same journey that felled his father, who was realistic at the prospect.

“I told him, ‘Son, we suffered hunger and thirst along the way, and then look at what happened to me, look at what I lost,’” Mr. López said, touching his still-mangled ankle. “But I can’t tell him what to do with his life — he’s a man now.”

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