Seattle

SEATTLE–(BUSINESS WIRE)–HomeStreet, Inc. (Nasdaq: HMST) (“HomeStreet”), the parent company of HomeStreet Bank (the “Bank” and together with HomeStreet, the “Company”), announced that the Board of Directors approved a $0.35 per share quarterly dividend. The dividend is payable on November 22, 2022 to shareholders of record at the close of business on November 8, 2022.

About HomeStreet, Inc.

HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is the winner of the 2022 “Best Small Bank” in Washington Newsweek magazine award. Certain information about our business can be found on our investor relations web site, located at http://ir.homestreet.com. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender.

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

MIAMI–(BUSINESS WIRE)–CorpHousing Group Inc. (“CorpHousing,” “CHG”, or the “Company”) (Nasdaq: CHG), which utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities, today announced financial results for the second quarter (“Q2 2022”) and six months ended June 30, 2022.

2022 Second Quarter Financial Overview Compared to 2021 Second Quarter

Net rental revenue rose 144% to $10.2 million from $4.2 million
Gross profit improved to $2.9 million, or 28% of net rental revenue, from $0.1 million, or 3.5% of net rental revenue
Income before provision for income taxes improved to $1.5 million from a loss of $(1.1) million
Net income improved to $0.8 million, or $0.04 per diluted share, from a net loss of $(1.1) million
EBITDA was $2.1 million compared to EBITDA of $(0.6) million

2022 Six Months Financial Overview Compared to 2021 Six Months

Net rental revenue rose 158% to $19.3 million from $7.5 million
Gross profit improved to $5.4 million, or 28% of net rental revenue, from a loss of $(0.4) million
Income before provision for income taxes improved to $2.9 million from a loss of $(2.4) million
Net income improved to $2.2 million, or $0.10 per diluted share, from a net loss of $(2.4) million
EBITDA was $4.1 million compared to EBITDA of $(1.8) million

Operational Highlights

Generated gross proceeds of $13.5 million via Initial Public Offering (August 2022)
Commenced trading on Nasdaq Capital Market (August 2022)
For the six months ended June 30, 2022, managed 590 units under long-term lease
Subsequent to June 30, 2022, CHG announced the signings of separate 15-year Master Lease Agreements (“MLA”) with two luxury hotels in New York City and an historic boutique hotel in New Orleans
Inclusive of these new MLAs, CHG’s portfolio currently consists of 10 hotel properties in eight U.S. cities comprising 1,037 units
Based on current MLA pipeline, CHG expects more than 1,200 units to be operational in 10 cities during Q4 2022

“We are excited to announce our Q2 results, which we believe reflect the success of our asset-light business model, the vibrancy of our target markers, and the opportunities inherent in our industry,” said Brian Ferdinand, Chairman and Chief Executive Officer of CorpHousing Group. “Q2 2022 net rental revenue increased by 144%, gross profit increased 19-fold, net income improved by $1.9 million, and EBITDA for the quarter was $2.1 million. Our available units for rent increased quarter over quarter, occupancy rates improved as the effects of COVID pandemic wane, and we realized certain efficiencies from scale.

“We currently operate hotels under long-term lease agreements in Boston, Denver, Los Angeles, greater Miami, New York City, Washington, DC, and Seattle, and will commence operations in New Orleans in mid-October.

We are in various stages of negotiation with a variety of potential partners that represent thousands of additional hotel units in destination locations across the United States and Europe. We believe that we are creating win-win opportunities by providing property owners the ability to create stable cash flow streams to maximize returns on their properties, which have been significantly impacted by restrictions on travel and leisure activities due to the COVID-19 pandemic. CHG then markets these units under our customer facing LuxUrban^TM brand to increase occupancy rates and drive operational efficiencies, thus creating the opportunity to generate high margin, recurring and predictable revenue streams. Supported by a strengthened balance sheet and seasoned team of executives, we believe that are well positioned to advance our highly scalable, predictable, and profitable business model and look forward to our future with confidence.”

Q2 2022 Overview

Net rental revenue in Q2 2022 increased 144% to $10.2 million from $4.2 million in the second quarter ended June 30, 2021 (“Q2 2021”), driven primarily by an increase in average units available to rent from 376 in Q2 2021 to 565 at Q2 2022, as well as better occupancy rates and average daily rates (“ADRs”) over this period.

Cost of revenue, which includes rental expenses for available units to rent, rose to $7.3 million in Q2 2022 from $4.0 million in Q2 2021, due primarily to the increase in size of CHG’s rental unit portfolio, as well as related increases in furniture rentals, cleaning costs, cable / WIFI costs and credit card processing fees.

Gross profit improved to $2.9 million, or 28% of net rental revenue, from $0.1 million, or 3.5% of net rental revenue. Higher gross profit and gross margin was primarily attributable to a reduction in the impact of COVID-19 on our operations, higher unit counts and better occupancy rates and ADRs.

Total general and administrative expenses in Q2 2022 increased to $0.9 million, or 9% of net rental revenue, from $0.7 million, or 18% of net rental revenue, in Q2 2021, attributable to an increased number of units in operation.

Income before provision for income taxes improved to $1.5 million from a loss of $(1.1) million, reflecting a significant increase in net rental revenue in Q2 2022 compared to Q2 2021 and the benefits of scale-driven operating efficiencies.

Net income improved to $0.8 million, or $0.04 per diluted share, compared to a net loss of $(1.1) million.

EBITDA rose to $2.1 million, or 21% of net rental revenue, in Q2 2022 compared to negative EBITDA of $(0.6) million.

For a discussion of the financial measures presented herein which are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”), see “Note Regarding Use of Non-GAAP Financial Measures” below and the schedules to this press release for additional information and reconciliations of non-GAAP financial measures. The company presents non-GAAP measures such as EBITDA to assist in an analysis of its business. These non-GAAP measures should not be considered an alternative to GAAP measures as an indicator of the company’s operating performance.

Conference Call and Webcast

The Company will host a conference call on Tuesday, September 27, 2022 at 9:00 am Eastern Time to discuss the results.

Investors interested in participating in the live call can dial:

(877) 407-9753 – U.S.
(201) 493-6739 – International

A webcast of the event may be accessed via the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ltKz5SSV.

CorpHousing Group Inc.

CorpHousing Group (CHG) utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities. The Company’s future growth focuses primarily on seeking to create “win-win” opportunities for owners of dislocated hotels, including those impacted by COVID-19 travel restrictions, while providing CHG favorable operating margins. CHG operates these properties in a cost-effective manner by leveraging technology to identify, acquire, manage, and market them globally to business and vacation travelers through dozens of third-party sales and distribution channels, and the Company’s own online portal. Guests at the Company’s properties are provided Heroic Service™ under CHG’s consumer brands, including LuxUrban. CHG’s Heroic Service^TM provides guests a hassle-free experience which exceeds their expectations with “Heroes” who respond to any issue in a timely, thoughtful, and thorough manner.

Forward Looking Statements

This press release contains forward-looking statements, including with respect to the expected closing of noted lease transactions and continued closing on additional leases for properties in the Company’s pipeline, as well the Company’s anticipated ability to commercialize efficiently and profitably the properties it leases and will lease in the future. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those set forth under the caption “Risk Factors” in the prospectus forming part of the Company’s effective Registration Statement on Form S-1 (File No. 333-262114). Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to business strategy, leasing terms, high-level occupancy rates, and sales and growth plans. The financial projection provided herein are based on certain assumptions and existing and anticipated market, travel and public health conditions, all of which may change. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

The Company seeks to achieve profitable, long-term growth by monitoring and analyzing key operating metrics, including EBITDA. The Company defines EBITDA as net income before interest, taxes, and depreciation. The Company’s management uses this non-GAAP financial metric and related computations to evaluate and manage the business and to plan and make near and long-term operating and strategic decisions. The management team believes this non-GAAP financial metric is useful to investors to provide supplemental information in addition to the GAAP financial results. Management reviews the use of its primary key operating metrics from time-to-time. EBITDA is not intended to be a substitute for any GAAP financial measure and as calculated, may not be comparable to similarly titled measures of performance of other companies in other industries or within the same industry. The Company’s management team believes it is useful to provide investors with the same financial information that it uses internally to make comparisons of historical operating results, identify trends in underlying operating results, and evaluate its business.

A reconciliation of net income to EBITDA will be provided in the company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2022 to be filed on September 26, 2022, under the section thereof entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Reconciliation of Unaudited Historical Results to EBITDA.”

Condensed Consolidated Balance Sheet (Unaudited)

	(unaudited)
	June 30,			December 31,
	2022			2021
ASSETS
*Current Assets*
Cash	$	556		$	6,998
Processor retained funds		4,616,255			56,864
Prepaid expenses and other current assets		512,939			166,667
Deferred offering costs		1,234,500			771,954
Security deposits – current		276,943			276,943
Total Current Assets	$	6,641,193		$	1,279,426
*Other Assets*
Furniture and equipment, net		8,944			11,500
Restricted cash		1,100,000			1,100,000
Security deposits – noncurrent		4,108,010			1,377,010
Operating lease right-of-use asset, net		49,941,971			—
Total Other Assets		55,158,925			2,488,510
Total Assets	$	61,800,118		$	3,767,936
LIABILITIES AND STOCKHOLDERS’ DEFICIT
*Current Liabilities*
Accounts payable and accrued expenses	$	5,301,053		$	4,209,366
Rents received in advance		4,071,095			1,819,943
Merchant cash advances – net of unamortized costs of $0 and $57,768, respectively		575,489			1,386,008
Loans payable – current portion		2,780,054			1,267,004
Loans payable – SBA – PPP Loan – current portion		815,183			815,183
Convertible loans payable – related parties – current portion		2,596,865			—
Loans payable – related parties – current portion		1,071,128			22,221
Operating lease liability – current		7,182,381			—
Income taxes payable		750,000			—
Total Current Liabilities		25,143,248			9,519,725
*Long-Term Liabilities*
Loans payable		545,789			925,114
Loans payable – SBA – EIDL Loan		800,000			800,000
Loans payable – related parties		—			496,500
Convertible loans payable – related parties		700,195			2,608,860
Line of credit		94,975			94,975
Deferred rent		—			536,812
Operating lease liability		43,962,492			—
Total Long-term Liabilities		46,103,451			5,462,261
Total Liabilities		71,246,699			14,981,986
Commitments and Contingencies
*Stockholders’ Deficit*
Members’ Deficit		—			(11,214,050	)
Common stock (shares authorized, issued and outstanding – 90,000,000; 21,675,001; 21,675,001; respectively)		216			—
Accumulated deficit		(9,446,797	)		—
*Total Stockholders’ Deficit*		(9,446,581	)		(11,214,050	)
*Total Liabilities and Stockholders’ Deficit*	$	61,800,118		$	3,767,936

Condensed Consolidated Statement of Operations

(Unaudited)

For the Three Months Ended

For the Six Months Ended

June 30, 2022

June 30, 2021

June 30, 2022

June 30, 2021

Rental Revenue

12,656,540

6,728,686

24,419,439

11,688,873

Refunds and Allowances

2,455,202

2,545,820

5,118,676

4,199,978

Net Rental Revenue

10,201,338

4,182,866

19,300,763

7,488,895

Cost of Revenue

7,344,720

4,035,238

13,930,882

7,920,531

Gross Profit (Loss)

2,856,618

147,628

5,369,881

(431,636

)

General and Administrative Expenses

Administrative and other

809,121

701,040

1,559,742

1,258,458

Professional fees

76,500

37,390

305,485

90,404

Total General and Administrative Expenses

885,621

738,430

1,865,227

1,348,862

Net Income (Loss) Before Other Income (Expense)

1,970,997

(590,802

)

3,504,654

(1,780,498

)

Other Income (Expense)

Other income

137,154

434

587,067

467

Interest and financing costs

(595,742

)

(542,764

)

(1,159,879

)

(660,007

)

Total Other Expenses

(458,588

)

(542,330

)

(572,812

)

(659,540

)

Income (Loss) Before Provision for Income Taxes

1,512,409

(1,133,132

)

2,931,842

(2,440,038

)

Provision for Income Taxes

Current

750,000

—

750,000

—

Net Income (Loss)

762,409

(1,133,132

)

2,181,842

(2,440,038

)

Basic and diluted earnings per common share

0.04

—

0.10

—

Basic and diluted weighted average number of common shares outstanding

21,675,001

—

21,315,747

—

Non-GAAP Financial Measures

To supplement the condensed consolidate financial statements, which are prepared in accordance with GAAP, we use EBITDA as a non-GAAP financial measure.

The following table provides reconciliation of net income (loss) to EBITDA:


	Three Months Ended June 30, (unaudited)					Six Months Ended June 30, (unaudited)
	2022		2021			2022		2021
Net Income (loss)	$	762,409	$	(1,133,132	)	$	2,181,842	$	(2,440,038	)
Provision for Income Taxes	$	750,000	$	—		$	750,000	$	—
Interest and Financing cost	$	595,742	$	542,764		$	1,159,879	$	660,007
Depreciation Expense	$	—	$	—		$	2,556	$	—
EBITDA	$	2,108,151	$	(590,368	)	$	4,094,277	$	(1,780,031	)

EBITDA is defined as net income or loss before the impact of interest, taxes and depreciation and amortization. EBITDA is a key measure of our financial performance and measures our efficiency and operating cash flow before financing costs, taxes and working capital needs. We utilize EBITDA because it provides us with an operating metric closely tied to the operations of the business.

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

In 2018, senior executives at one of the country’s largest nonprofit hospital chains, Providence, were frustrated. They were spending hundreds of millions of dollars providing free health care to patients. It was eating into their bottom line.

The executives, led by Providence’s chief financial officer at the time, devised a solution: a program called Rev-Up.

Rev-Up provided Providence’s employees with a detailed playbook for wringing money out of patients — even those who were supposed to receive free care because of their low incomes, a New York Times investigation found.

nonprofits like Providence. They enjoy lucrative tax exemptions; Providence avoids more than $1 billion a year in taxes. In exchange, the Internal Revenue Service requires them to provide services, such as free care for the poor, that benefit the communities in which they operate.

But in recent decades, many of the hospitals have become virtually indistinguishable from for-profit companies, adopting an unrelenting focus on the bottom line and straying from their traditional charitable missions.

focused on investments in rich communities at the expense of poorer ones.

And, as Providence illustrates, some hospital systems have not only reduced their emphasis on providing free care to the poor but also developed elaborate systems to convert needy patients into sources of revenue. The result, in the case of Providence, is that thousands of poor patients were saddled with debts that they never should have owed, The Times found.

By Associated Press
September 11, 2022

Cooler temperatures and rain brought respite to firefighters battling the massive Fairview Fire after sweltering heat last week.

Firefighters made progress against a huge Northern California wildfire that was still growing and threatening thousands of mountain homes, while crews also battled major blazes Sunday in Oregon and Washington.

The Mosquito Fire in foothills east of Sacramento spread to nearly 65 square miles, with 10% containment, according to the California Department of Forestry and Fire Protection, or Cal Fire.

“Cooler temperatures and higher humidity assisted with moderating some fire activity,” but higher winds allowed the flames to push to the north and northeast, according to a Cal Fire incident report Sunday.

More than 5,800 structures in Placer and El Dorado counties were under threat and some 11,000 residents of communities including Foresthill and Georgetown were under evacuation orders.

In Southern California, cooler temperatures and rain brought respite to firefighters battling the massive Fairview Fire about 75 miles southeast of Los Angeles after sweltering heat last week.

The 44-square-mile blaze was 45% contained Sunday. The fire has destroyed at least 30 homes and other structures in Riverside County. Two people died while fleeing flames last Monday.

The southern part of the state welcomed the cooler weekend weather as a tropical storm veered off the Pacific Coast and faded, helping put an end to blistering temperatures that nearly overwhelmed the state’s electrical grid.

Thunderstorms and the risk of flooding persisted in mountainous areas of greater Los Angeles on Sunday. But after Hurricane Kay made landfall in Mexico last week it quickly was downgraded and weakened further until it largely disappeared, forecasters said.

In Washington state, a raging wildfire sparked Saturday in the remote Stevens Pass area sent hikers fleeing and forced evacuations of mountain communities. There was no containment Sunday of the Bolt Creek Fire, which had scorched nearly 12 square miles of forestland east of Seattle.

“It’s going to be several days” before crews get a handle on the blaze, Peter Mongillo, spokesperson for Snohomish Regional Fire and Rescue, told the Seattle Times.

California’s Mosquito Fire has covered a large portion of the Northern Sierra region with smoke. California health officials urged people in affected areas to stay indoors where possible. Organizers of the Tour de Tahoe canceled the annual 72-mile bicycle ride scheduled Sunday around Lake Tahoe because of the heavy smoke from the blaze — more than 50 miles away. Last year’s ride was canceled because of smoke from another big fire south of Tahoe.

The Mosquito Fire’s cause remained under investigation. Pacific Gas & Electric said unspecified “electrical activity” occurred close in time to the report of the fire on Tuesday.

Scientists say climate change has made the West warmer and drier over the last three decades and will continue to make weather more extreme and wildfires more frequent and destructive. In the last five years, California has experienced the largest and most destructive fires in state history.

And the rest of the West hasn’t been immune. There were at least 18 large fires burning in Oregon and Washington, leading to evacuations and targeted power outages near Portland as the challenge of dry and windy conditions continued in the region.

Sprawling areas of western Oregon choked by thick smoke from the fires in recent days were expected to see improved air quality on Sunday thanks to a returning onshore flow, Oregon Public Broadcasting reported.

South of Portland, more than 3,000 residents were under new evacuation orders because of the 134-square-mile Cedar Creek Fire, which has burned for over a month across Lane and Deschutes counties. Firefighters were protecting remote homes in Oakridge, Westfir and surrounding mountain communities.

According to the Northwest Interagency Coordination Center, this weekend there were more than 400 square miles of active, uncontained fires and nearly 5,000 people on the ground fighting them in the two northwestern states.

Additional reporting by The Associated Press.

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Serena Williams, Sue Bird and Allyson Felix are retiring from their respective sports and moving on to other ventures.

It’s the end of an era for women’s sports, as three icons retire from their respective games.

“Something that you can’t ignore is all the high-profile women and female athletes that are some of the greatest in the world who are all retiring at the same time,” said Melanie Anzidei, a reporter with NorthJersey.com.

Tennis star Serena Williams, basketball legend Sue Bird, and the most-decorated American track and field athlete in Olympic history Alysson Felix are leaving behind incredible legacies that extend well beyond their sport.

“Women, people of color are always put down because of the way they look or some people’s ideas think they can’t do as much, so putting Serena as a role model and all she’s done is really good,” said Isalia Lebron, a 13-year-old tennis player.

Williams, a 23-time Grand Slam champion, spent the last 27 years dominating the world of tennis, inspiring women everywhere in the process.

“My granddaughter sees Serena, she’s like, ‘Nana I can do that because Serena did it. If Serena said you could do it, anybody can do it,'” said Tiffany Martinez, a fan from Columbus, Ohio. “So, we’re here. After 33 years of being a waitress and never, ever having a weekend off, I took a whole weekend off this week just to come see her because she’s done that much for me.”

Williams, who won the Australian Open in 2017 while two months pregnant, says she is “ready for what’s next,” turning her attention now to having another child and expanding her business interests. This includes her investment firm, Serena Ventures, which aims to support women and minority-owned businesses.

“She’s kinda just an iconic athlete that kind of transcends sport in a very big way,” Anzidei said.

Meanwhile, the WNBA is saying goodbye to arguably the most accomplished player in the game, Sue Bird. She helped lead the University of Connecticut to two NCAA titles and played on five gold medal-winning Olympic teams for the U.S.

As a pro, she helped lead the Seattle Storm to four WNBA championships over 19 seasons in the league. Off the court, she has emerged as a powerful advocate for LGBTQ rights and the Black Lives Matter movement.

“Not only is she one of the greatest in the WNBA, she’s also unique because she is stepping outside of just basketball,” Anzidei said. “She’s choosing to invest in a team. In Gotham FC, she’s choosing to become a minority investor in the club, which is interesting because she announced that while she was still active in the WNBA.”

Then, with 11 Olympic medals, track superstar Allyson Felix is hanging up her spikes. Over the course of her career, Felix pushed the limits of her sport while breaking down barriers for women off the track.

“I had kind of heard the statistics of Black women being more at risk for complications, but being a professional athlete, it just…. I never imagined myself in this situation,” Felix said. “At 32 weeks, I was diagnosed with severe preeclampsia.”

She has advocated relentlessly for women’s issues like job and pay protections for athletes who become mothers, and for maternal health care.

“I really want women just to be aware, to know if they are at risk, to have a plan in place and not be intimidated in doctor’s offices,” Felix said. “I know how important it is. I know how scared I was. I know how I didn’t feel prepared or educated, and I don’t want anyone else to feel that way.”

“What’s very unique about her is that for her, parenthood is probably the signature of one of the biggest footnotes of her entire athletic career,” Anzidei said. “It has been that something that she’s made a priority, and that’s going to change sport in tremendous ways for athletes.”

While the three athletes have crossed the finish line in their respective sports, they’re not done winning yet outside the game.

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

By Associated Press

and Newsy Staff
September 6, 2022

The National Transportation Safety Board is investigating the crash, which occurred about 30 miles northwest of Seattle.

The U.S. Coast Guard has suspended the search for nine people missing after a floatplane crashed in the waters of Puget Sound northwest of Seattle.

A nearby resident said they heard what sounded like a thunderclap at the time of the crash Sunday.

Just after noon on Monday, the Coast Guard said it was halting the search for survivors after “saturating an area” of more than 2,100 square nautical miles (nearly 2,800 square miles).

“All next of kin have been notified of this decision,” the Coast Guard said on Twitter. “Our hearts go out to the families, loved ones and friends of those who remain missing and the deceased.”

The body of a 10th person, an unidentified female, was recovered by a good Samaritan on Sunday after the crash was reported at 3:11 p.m., Scott Giard, director of the U.S. Coast Guard’s search and rescue for the Pacific Northwest, said at a new conference.

The identities of the victims were expected to be released Tuesday.

The Northwest Seaplanes flight left Friday Harbor, a popular tourist destination in the San Juan Islands, and was headed to Renton Municipal Airport, the company’s base, said Coast Guard spokesperson William Colclough.

The plane went down in Mutiny Bay off Whidbey Island, roughly 30 miles northwest of downtown Seattle and about halfway between Friday Harbor and Renton, a suburb south of Seattle.

The Coast Guard learned through the seaplane company’s owner that two Friday Harbor seaplanes took off Sunday afternoon and the owner was aboard one of the flights, Giard said. The owner told authorities he saw the other plane divert slightly off course and he tried to make radio contact but was unable to.

“Shortly after that, he noticed on his flight tracker that the flight had stopped tracking and notified authorities,” Giard said.

Officials received reports that “the aircraft dropped suddenly at a fair amount of speed and hit the water,” Giard said. “We don’t have any video or pictures of the incident as of this moment.”

There was no distress call or distress beacon from the crashing plane, he said. The aircraft has an electronic locating transmitter onboard, but they have not received any transmission.

“That is very typical in times where there is either a hard landing or a crash of an aircraft,” he said.

The cause of the crash is unknown, authorities said.

The National Transportation Safety Board said Monday they’re sending a team of seven to investigate the crash of the DHC-3 Turbine Otter.

Coast Guard searchers found “minimal debris,” Giard said. By Monday afternoon, they had only found three to four long and narrow pieces of aluminum, very few personal items, a seat and some small pieces of foam.

Without a clear picture of the actual crash, and not knowing whether it exploded on impact or immediately sank to the sea floor, 150 to 200 feet below, it’s difficult to know what happened to the plane, he said.

Floatplanes, which have pontoons allowing them to land on water, are a common sight around Puget Sound, an inlet of the Pacific Ocean. There are multiple daily flights between the Seattle area and the San Juan Islands.

Additional reporting by The Associated Press.

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Viewership for WNBA games rose 16% compared to last year, along with increasing social media and website traffic for the league.

The WNBA playoffs are heating up semifinals kick off on Sunday.

It’s down to the final four teams: The defending champions Chicago Sky will take on the Connecticut Sun, while top-seeded Las Vegas Aces will battle Seattle Storm.

And league officials say they’re encouraged by the points the league is scoring off the court, as well.

Officials say the 2022 season saw a slam dunk in viewership with a 16% rise over the previous year, making it the most watched regular season in 14 years at an average of roughly 379,000 viewers. Online social media engagement was up 36% from 2021, and website traffic was up 79% with 9.2 million visits in total.

“We’re going to implement a couple of things, because I feel confident in how we’re doing at the league level,” said Cathy Engelbert, WNBA commissioner.

The 26-year-old league is known for its play that emphasizes ball handling, competitive games and the marketing of player style.

The year began with a $75 million investment by new investors, including Nike and the NBA.

Mid-season, Engelbert announced that the league is trying to improve the lives of the women who play the game.

“For the WNBA finals, we’re going to provide charter flights to our players,” Engelbert said. “In the spirit of finding other ways to compensate our players, we’re planning to increase the post-season bonus pools by almost 50% to a half million dollars. That would almost double the bonus reach player who wins the championship.”

These changes to the player experience come amid conversations about how WNBA players are compensated compared to their male counterparts in the NBA.

On average, NBA players are some of the highest paid athletes in the world, with the average salary for this season coming in around $7.3 million. Meanwhile, the top players in the WNBA are reportedly making roughly $230,000 a year.

The driving force behind these conversations is WNBA star Brittney Griner’s detainment in Russia on charges of drug smuggling. Griner, who was sentenced to nine years in prison by a Moscow court in August, had been competing in a Russian league during her WNBA off season and was reportedly earning about $1 million for doing so — a salary more than four times what she was making during her WNBA season.

Looking ahead to next season, Englebert says the league plans to play an all-time high of 40 regular season games, compared to this season’s 36. In addition, the league is eyeing opportunities to expand its reach by bringing new teams to cities around the country.

“We have a lot of interest — I’d say probably 10 or 15 cities very interested in hosting a WNBA team,” Engelbert said. “So we’re meeting here and there, I’ll call it, with interested ownership groups. We are looking for the right ownership groups, with the right commitment, the right arena situation, the right city, to support the WNBA franchise.”

It’s a move the league says is backed by data showing growing public interest, which should be kept in mind during future media negotiations.

“When you look at our viewership versus the NHL, MLS, NASCAR and things like that, some ways on cable, we are at or above them, our social platform and stuff like that,” Engelbert said. “How do we get these qualitative metrics as part of the next media deal negotiation?”

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

A.J. Frank watched the Phoenix real estate market and its entire economy implode as he was graduating from high school in 2009, a scarring experience that has made him a cautious saver. He is again living through a major economic upheaval as the cost of living climbs sharply.

Phoenix — among the hardest-hit cities during the housing crisis — is now on the leading edge of another painful economic trend as the United States faces the most rapid inflation in 40 years. The city is experiencing some of the fastest price increases in the nation, something Mr. Frank has felt firsthand.

His landlord tried to raise his rent nearly 30 percent this year, prompting him to move. Mr. Frank, a 31-year-old engineer, is still paying $250 a month more than he was previously, and rising grocery and gas bills have reduced his disposable income.

national rate of 8.5 percent in July. Prices in the Southern United States have risen 9.4 percent over the past year, the fastest pace of any large region in the nation and more rapid than in the Northeast, where prices are up 7.3 percent.

surged earlier this year. Because many Sun Belt cities depend on cars and air-conditioning, those purchases make up a larger percentage of consumer budgets in the region. And, just as it did in 2008, housing is playing a crucial role — this time, through the rental market, which is a major contributor to overall inflation. In Phoenix, rents are up 21 percent from a year ago, and in Miami, they are up about 14 percent. For urban dwellers nationally, rent is up only about half as much, 6.3 percent.

The Sun Belt’s intense bout of inflation matters for several reasons. While inflation is painful everywhere, it is having a disproportionate impact on families in cities like Tampa Bay, where prices have shot up faster than in areas like New York City. Demand at food banks and for eviction counselors has jumped across the region, providers said, as signs of that distress manifest.

Starbucks alleges St. Louis labor board officials made special arrangements for pro-union workers to vote in person at its office.

Starbucks on Monday asked the National Labor Relations Board to temporarily suspend all union elections at its U.S. stores, citing allegations from a board employee that regional NLRB officials improperly coordinated with union organizers.

In a letter to the board chairman, Starbucks said the unnamed career NLRB employee informed the company about the activity, which happened in the board’s St. Louis office in the spring while it was overseeing a union election at a Starbucks store in Overland Park, Kansas.

The store is one of 314 U.S. Starbucks locations where workers have petitioned the NLRB to hold union elections since late last year. More than 220 of those Starbucks stores have voted to unionize. The company opposes the unionization effort.

The Seattle coffee giant alleges that St. Louis labor board officials made special arrangements for pro-union workers to vote in person at its office when they did not receive mail-in ballots, even though Starbucks and the union had agreed that store elections would be handled by mail-in ballot.

In its letter, Starbucks referred to memos the regional office sent confirming that workers were allowed to come to the office and vote in person after the union told the regional office that some workers had not received ballots in the mail. The memos, citing “board protocol,” said the workers voted alone in an empty office, according to Starbucks.

“Because observers were not present, no one can be sure who appeared to vote, whether NLRB personnel had inappropriate communications with the voters, told them how to vote, showed them how to vote or engaged in other undisclosed conduct,” Starbucks wrote in its letter.

Starbucks said regional board officials also disclosed confidential information to the union, including which workers’ ballots had arrived in the mail to be counted.

Starbucks Workers United, the group seeking to unionize U.S. Starbucks stores, accused the company of trying to “distract attention away from their unprecedented anti-union campaign, including firing over 75 union leaders across the country, while simultaneously trying to halt all union elections.”

“Workers have spoken loud and clear by winning 82 percent of union elections,” the group said in a statement. “Ultimately, this is Starbucks’ latest attempt to manipulate the legal process for their own means and prevent workers from exercising their fundamental right to organize.”

A spokesperson for the NLRB said Monday that the agency doesn’t comment on open cases.

Press secretary Kayla Blado said the NLRB will “carefully and objectively” consider any challenges that Starbucks raises through “established channels.” Starbucks can also seek expedited review in the case, Blado said.

Workers at the Overland Park store petitioned the NLRB to hold a vote in February. In April, workers voted 6-1 to unionize, but seven additional ballots were the subject of challenges from Starbucks or the union. A hearing on those challenges is scheduled for Tuesday; Starbucks has asked for that hearing to be delayed.

Starbucks said there is evidence of misconduct in other regions as well. The company wants the NLRB to thoroughly investigate other Starbucks union elections and make public a report on its findings. The company said the board should also implement safeguards to prevent regional officials from coordinating with one party or another.

Starbucks also asked the NLRB to issue an order requiring all pending and future elections to be conducted in person with observers from both sides.

“If the NLRB does not respond by investigating and remedying these types of actions, we do not see how the board can represent itself as a neutral agency,” the company said in the letter.

Starbucks has long opposed unionization, dating back to CEO Howard Schultz’s acquisition of the company in the late 1980s. The current unionization effort has been riddled with accusations and lawsuits on both sides.

Starbucks Workers United has filed 284 unfair labor practice charges with the NLRB against Starbucks or one of its operators, according to the labor board. Starbucks has filed two charges against Workers United.

Earlier this month, the labor board dismissed one of the charges filed by Starbucks, saying the company failed to prove that pro-union workers blocked store entrances or intimidated customers during a spring rally.

In June, the NLRB asked a federal court in western New York to order Starbucks to stop interfering with unionization efforts at its U.S. stores. It also asked the court to order Starbucks to reinstate seven Buffalo employees it says were unlawfully fired for trying to form a union. That case is pending.

But the NLRB’s actions against Starbucks haven’t always been successful. In June, a federal judge in Phoenix ruled that Starbucks didn’t have to rehire three workers who claimed that the company had retaliated against them for organizing a union.

Starbucks isn’t the only large company facing a unionization effort that has attacked the voting process.

Amazon has also levied accusations of improper conduct against the NLRB’s regional office in Brooklyn in its attempt to re-do a historic labor win at a warehouse on Staten Island, New York. Among other allegations, Amazon said the agency tainted the voting process by seeking reinstatement of a fired Amazon worker in the weeks leading up to the March election.

Attorneys representing the e-commerce juggernaut argued their case in an agency hearing during the summer. Attorneys for the agency have pushed back. A regional director for an NLRB office in Phoenix is expected to issue a ruling on that case in the coming weeks.

Additional reporting by The Associated Press.

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Increasing demand for air conditioning is outpacing supply. This rise in AC use will also affect the climate, which could lead to more heatwaves.

The increased demand for air conditioning in the U.S. has been underscored by record-breaking heatwaves, impacting tens of millions of Americans coast to coast.

Experts argue that added air conditioning and energy capacity is necessary for health reasons, as extreme heat is responsible for more weather-related deaths in the U.S. than any other kind of hazard. At the same time, there are concerns that this energy usage could make the effects of climate change worse.

“Climate change has caused it to get warmer, and as humans, the best adaptation policy or action that we can take is to use air conditioning,” said Renee Orbringer, assistant professor at Pennsylvania State University’s School of Energy and Mineral Mining. “That in turn, depending on where you get your energy — which in the US is largely fossil fuels — leads to furthering climate change. What we’re seeing is that it’s happening a lot faster than a lot of the utilities were prepared for.”

In fact, residents in regions that had historically less need for cooling devices are seeing spikes in aircon adoption. In Seattle, where only 44% of households have an window unit or central AC, demand has been so high that installation companies in the area were already booked out for the summer in April.

It won’t take much of a temperature increase to drive demand, either. A study by Orbringer found that household demand for air conditioning is expected to increase by 13% if the world warms up by two degrees Celsius, or about 3.6 degrees Farhenheit. If global temperatures increased by half a degree Celsius, it could triple the demand for air conditioning in Indiana and Ohio, which could put a strain on energy grids unprepared for the increases.

“Worst case scenario: Our demand increases, our supply stays the same,” Orbringer said. “We’re going to have potentially two weeks’ worth of deficit where we don’t meet our demand, and ultimately, the way that electricity grids work is they don’t want to shut down the whole grid, because it takes so much to get it back up and running. So, they’ll shut down portions of the grid to keep everything sort of going.”

Fixing the problem is going to require finding ways to make our air conditioning more efficient, which may mean retrofitting entire old buildings.

But how much energy you need to cool your house depends on the climate you live in, so air conditioning specs for one part of the country may not match another area.

“What leads households in Arizona to increase their air conditioning use is not going to be the same as in Florida, because this humidity factor is absolutely critical for determining sort of how we experience temperature as humans,” Orbringer said.

: newsy.com

View

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

REPUBLICA PRESS
Your Business & Political News

Seattle

HomeStreet Announces a Common Stock Dividend of $0.35 Per Share

CorpHousing Group Inc. Announces 2022 Second Quarter Financial Results

They Were Entitled to Free Care. Hospitals Hounded Them to Pay.

Inflation F.A.Q.

Inflation F.A.Q.

Inflation F.A.Q.

Inflation F.A.Q.

Seattle

Following a Script ‘Like Robots’

Inflation F.A.Q.

Inflation F.A.Q.