What does it take to get legendary supermodel Cindy Crawford to join in on a viral TikTok challenge? A Casamigos margarita, of course.
In an unexpected turn of events, the 57-year-old fashion icon has joined the social media sensation, hard launching her newly minted account by putting her own high-fashion spin on one of the platform’s most viral trends: ‘The Margarita Song’.
@cindycrawford Gimme a ‘rita!
In case you were sojourning in Europe for the summer or had just chosen this moment as the most opportune to digitally detox from the oversaturated feeds, you mightn’t be aware that this fervid sound has become the unofficial seasonal anthem.
The lyrics are less than salubrious, with the contents explaining what will happen after a couple of tequila cocktails. Nevertheless, Crawford has twisted the trend, taking to the front of the camera to down a tangy Casamigo ‘rita (as Crawford dubbed them in the caption of her video).
Of course, being the wife of spirit baron, Rande Gerber, we wouldn’t have expected anything less.
Plus, with one of Crawford’s biggest contributions to pop culture being her iconic 1992 Pepsi commercial, we’re not averse to her returning to our screens for the purpose to slurp down beverages.
As it turns out, we’re not the only ones who thought the same, with Crawford herself reprising a pair of denim cut-off shorts and a bombshell blowout to recreate the iconic 90s advertisement, 31 years later.
In the same vein as the original commercial, Crawford stepped out of a flashy convertible in a white tank top and denim shorts before downing a salt-rimmed margarita.
Then, the video deviates from its source material, with ‘That Angel Chick’ (also known as the mind behind ‘The Margarita Song’, shoving Crawford to the ground and taking the cocktail for herself.
Despite the slight nuances in the two videos, it’s safe to say that not a lot has changed for Crawford in the three decades since this Super Bowl touchdown.
We’re still as enamoured with her glamazonian beauty, lusting after her enviable bouncy brunette tresses, and most of all, wondering how many workout videos we have to endure until our legs rival hers.
Watch the video below:
LAS VEGAS, Nev. (FOX5) – For almost 60 years, the Commercial Center located on Sahara Ave. has been home to an assortment of varied Las Vegas businesses.
There is an ongoing effort to revitalize this area and turn it into an entertainment district. One new business coming to the Commercial Center plans to open its doors by the end of this year.
Derek Stonebarger, who owns Davys and ReBAR downtown, said he is going to bring a one-of-a-kind experience to the Commercial Center that includes art, food and entertainment.
“It is historic, it is my jam, said Stonebarger. “I love old buildings and history.”
Construction is underway for Stonebarger’s new business, called Arty’s Steakhouse.
“It is an art gallery-themed steakhouse,” Stonebarger explained. “Just like my other businesses like ReBAR and Davy’s on Main Street in the Arts District, everything you see is for sale.”
He hopes people will look at Arty’s like a museum, but also a place where people can eat and drink.
“You come in here on a busy Friday or Saturday night, I plan to have a few artists here painting and just hanging out,” said Stonebarger.
Local artist Michelle Graves said Stonebarger’s concept of combining food and art will be a great addition to the commercial center.
“A new push into this next generation post-pandemic Las Vegas,” said Graves. “Where there is a little bit of history and a lot more art and a lot more focus on locals.”
The Commercial Center falls under Commissioner Tick Segerblom’s district. He said Monday that the revitalization is moving quickly as more businesses continue to move in.
“I think the county has seen how well the city of Las Vegas was able to create the Arts District, the Gateway District and seeing how it is profitable,” said Stonebarger.
Stonebarger is one step closer to opening the doors at his newest establishment.
“We need to build a full steakhouse kitchen, so there is a lot of work, but in the meantime, I hope to be open before I complete the whole kitchen, with the bars being built and the art galleries,” said Stonebarger.
Stonebarger said that by the end of this year, he plans to open the art gallery and bar every Friday and Saturday night to start, with hopes to be open 24 hours a day as a gaming steakhouse by fall of next year, when he also plans to hire over 30 employees.
Copyright 2023 KVVU. All rights reserved.
OnTheMarket critic Brett Stone has issued a second open letter to shareholders of the portal, accusing it of “irresponsibly diluting shareholders” and making misleading statements.
The letter, posted on LinkedIn, highlights data from OTMs’s recent stockmarket update that showed it is losing agency branches and has seen a reduction in site visits.
Without change and proper investment, Stone claims OTM will keep destroying value, keep “irresponsibly diluting shareholders,” keep losing estate agent customers, keep failing to prevent customers’ increasing spend on portals and keep making misleading statements.
Key points Stone makes within the letter include:
(1) OnTheMarket is underinvesting in their products, teams and business handing an easy win to Rightmove and resulting in the loss of estate agent customers, fewer listings, less visits to their site, slowing revenue growth and a declining share price.
(2) Since OnTheMarket listed in February 2018, shareholders have seen the value of their investment decline by two-thirds, customers have seen their aggregate property portal costs more than double, and the property commerce category in the United Kingdom has remained slow, inefficient and stressful for estate agents and consumers.
(3) OnTheMarket are losing customers with 1,084 estate agent branches lost last year and more than expected being lost so far this year. (Rightmove lost 178 branches last year as a comparison). Portal visits are down 14% and revenue growth slowed in the second half to up £0.4 million or 2.4%.
(4) OnTheMarket is irresponsibly diluting shareholders and granting options to insiders. OnTheMarket issued 19.5 million new shares since IPO and has granted 13.2 million options.
(5) OnTheMarket are making public statements which do not appear to be based in reality or supported by evidence (examples of which are examined in an appendix to Brett Stone’s open letter) and do not appear to be acting in the best interests of customers, shareholders, or consumers.
He said OnTheMarket has rejected attempts made last October to have a discussion about an offer including “capital and digital market expertise” required to deliver returns for shareholders and products for customers at speed and scale.
Stone, founder of Trunkstone, a new long-term holding company focused on the property commerce category and the managing partner of private investment partnership Edengen, said in the letter to shareholders: “The proposal included a significant investment in new ordinary shares and was a win/win/win solution for shareholders, customers and employees.”
He said the proposal required shareholder approval at a general meeting, required no additional capital or commitment and retained OnTheMarket’s public listing.
It also protected customer’s interests through an “irevocable commitment to cap agents’ listings fees indefinitely” and included a pay rise for all employees to help with the impact of high inflation, Stone said.
A spokesperson for OTM said its response hasn’t changed since receiving the first letter in October.
OTM said at the time: “The board of OnTheMarket received a letter from Brett Stone in late 2022 and, after careful consideration, unanimously agreed his proposal was detrimental to stakeholders.
“Stone is not a shareholder in OnTheMarket, did not provide any evidence of shareholder support for his proposal or any details of any available funding.
“The board consider that OnTheMarket has strong prospects as an independent business, as evidenced by our recent trading update which showed record revenues and profitability, alongside on-going strategic progress.
“The board also place great value on OnTheMarket’s majority agent owned shareholder structure and believe that this continues to benefit all of the company’s stakeholders and the property market as a whole.”
Agents are being urged to take extra care when dealing with sales on behalf of someone who lacks mental capacity.
Kate Stockdale, senior associate in the residential property department at Wilsons Solicitors, warns that there has been a change in the attitude from the courts around the authority given to deputies who are acting on behalf of someone else.
A deputy is a person who has been appointed by the Court of Protection to act on behalf of someone without mental capacity.
This is often to manage someone’s financial affairs where there is no power of attorney but Stockdale warns that it doesn’t always extend to property sales.
She said: “The courts are no longer giving authority for the Deputy to purchase or sell a property in the original Deputy Order and there has been a huge increase in the number of applications being made for further authority.
“It is important to remember that people can lose the capacity to decide to sell a property for many reasons, and it is not just those who’s cognition has declined in their later years.
“Other examples include children impacted by negligence on the part of hospital at birth or someone who sustains a brain injury in a car accident. The question of capacity is also not straightforward and is about the ability of someone to make specific decisions at a given time.
“The question to consider is whether the property owner is able to make a decision at the time it needs to be made or whether their ability to do so is impacted due to a cognitive impairment or disturbance that affects the mind.”
She said the people who contact an agent to sell a property on behalf of someone who lacks capacity are therefore likely to be varied.
Stockdale added: “Do not make assumptions. The first additional hurdle is the due diligence needed to ensure that the client asking you to market and sell or buy a property has the right to do so.”
She said someone may have a Deputyship Order which appoints them as a Deputy but the Order may specifically prohibit the sale of a property without further directions from the Court of Protection.
Or it may simply be silent on this point, which amounts to the same thing, she sai, adding: “It is important that this Order is available before a transaction proceeds and if an Order is pending at the Court of Protection, expectations are managed about how long process can take.”
Agents are also likely to be involved with a number of people, over and above the Deputy plus the actual owner may still want to be involved.
She highlights that the Deputy may not know much about the property so it is important the agent does their own research, adding: “The Deputy must act in the best interests of the owner and this can be important when considering points such as value or later, any price reductions or negotiations.
“The Deputy is likely to require clear guidance and recommendations from the agent or a RICS surveyor regarding value and it may take longer to obtain instructions on any negotiation.
“These additional hurdles can easily be addressed to enable transactions to proceed smoothly to completion.”
More than one in four estate agents are unsatisfied with the property portals that they use, according to a new survey.
An online survey of estate agents asked participants to rate the portals they subscribe to in terms of user satisfaction and were asked to rank the portals out of five.
The results of the survey revealed that more than 25% of those surveyed were unsatisfied with the country’s three main property portals.
Fewer than 11% of respondents gave Rightmove a score of five out of five, while 27% of the survey’s participants gave a score of 1 out of 5, the lowest satisfaction score.
The survey also revealed that fewer than 4% of respondents gave Zoopla five out of five for customer satisfaction, while 27.5% gave the portal one out of 5.
OnTheMarket was the worst-ranked portal with just 3% of respondents giving the portal five out of five, while 28% gave it 1 out of 5 for satisfaction.
Jeremy Rosenblatt, founder of challenger portal Jangle, which conducted the research, said: “It is clear that the major portals are simply not providing the customer satisfaction levels that they should be achieving.
“In any other industry, companies providing such low satisfaction levels would not last. Imagine what would happen to high street brands or car manufacturers, if their customer satisfaction levels revealed that nearly 30% of their customers were completely dissatisfied.”
The Jangle survey also revealed that the majority of estate agents subscribe to more than one portal, with 36% of agencies subscribing to the three major portals, 40% utilising two and 24% using just one. The survey also showed that 40% of respondents are spending over £2,000 each month on portal subscriptions.
It comes as Rosenblatt, a former director at Dexters and Hanover Residential, continues with plans for a new portal that won’t charge agents for listings and there will be an API that automatically uploads their properties.
He added: “Our survey not only confirms the market’s widespread dissatisfaction with the costs charged by the big portals but also reveals the level of overheads being incurred, explaining the appetite of agents and developers for a Zero Portal Spend model,” commented Rosenblatt.
“The challenging market conditions that agency firms are currently experiencing are unlikely to improve in the short term and many are asking if the prevailing property portal concept is fit for purpose.
“By gauging market sentiment through engagement with the estate agent community, there is a clear desire for a service that assists property professionals to efficiently market properties without subtracting from their bottom lines.
“From our conversations and the expressions of interest regarding our concept, there is a clear desire for zero portal Spend, which we will deliver.”
Auctions are supposed to provide efficient markets, yet two recently held for distressed Chicagoland offices have only shown the messes that can result from bidding contests amid a historic decline in commercial real estate demand and plummeting property values.
The algebra involving these struggling offices isn’t convincing their lenders to let go at auction, under their assumption a pending economic recovery will make it worthwhile to hold on to their assets despite each additional month of ownership bringing more costs from taxes and maintenance.
Auctions held this summer for two lender-owned office properties — one in downtown Chicago, one in the western suburbs — generated interest but still haven’t closed, highlighting that the brokers running the sales are tasked with testing a changing market.
The 300 West Adams Street Building, a 12-story, 254,000-square-foot landmark in the West Loop that’s nearly half vacant, was marketed in an online auction in early June that had a minimum bid of $2 million, but a deal hasn’t closed, and JLL re-listed the property for sale in the weeks since the final bid was counted down.
In DuPage County, offers on the Oak Brook Office Center on Butterfield Road culminated in a final bid of $10.5 million last week, falling short of balance of a $24 million CMBS loan secured by the property.
The bondholders that own that debt’s note are unlikely to sign off on selling the property at that price, however, unwilling to stomach such a large loss, according to a person familiar with the offering. Instead, the property will remain in the hands of the bondholders in the debt instead of getting transferred to the auction’s highest bidder.
The bidder isn’t out any money, and the bondholders could re-market the property for sale through auction again or a standard listing at a time they feel they could get a better price.
Meanwhile, the leasehold interest in the West Loop property in 2021 was turned over to an entity managed by Morgan Stanley, a trustee for bondholders in a $25 million loan on the property, from then-owner Alliance HP. That was after the building’s vacancy rose to 23 percent. JLL began marketing the leasehold interest on behalf of the lender in mid-2022, but a deal never materialized.
Efforts to move the property are likely complicated by Pennsylvania-based Alliance’s 99-year ground lease, which it enacted when it bought 300 West Adams for $51 million in 2012.
Back in Oak Brook, there were five bidders on the four-building, 317,000-square-foot property in the receivership sale held last week by Highland Park-based Frontline Real Estate Partners. But the lender isn’t required to sell to any of them as the reserve price wasn’t met.
The loan on the property went into special servicing in April 2022 due to a payment default by the borrower, Vancouver-based Adventus Realty Trust. That led to a foreclosure and receivership appointment by loan trustee Wells Fargo. Adventus is facing defaults on a separate $128 million loan against the office property Riverway near O’Hare as well as on a $350 million loan tied to eight offices in suburban Chicago and Atlanta.
Though the highest bid won’t cover the Oak Brook office loan, it was at a pricier basis than what some other downtrodden Chicago-area suburban offices have sold for in recent months. An investor bought the 318,000-square-foot building at 2 Overlook Point in Lincolnshire for about $2.9 million, or just $9 per square foot.
The Oak Brook office complex was marketed as a redevelopment play for hospitality or retail uses, something village leadership would welcome for the additional tax revenue.
“We’ve had, certainly, a lot of inquiries from potential bidders on that property about potential alternative uses,” Oak Brook Village President Laurence Herman told The Real Deal before the auction. “We obviously are concerned about what the future use is going to be.”
Good morning, it’s Ainslie and Matt here for the first day of August. The RBA meets later today, but first…
Today’s must-reads:
• House price growth decelerated in July
• China’s lagging growth
• Futures point to positive open
Australia’s house price growth slowed in July as property listings increased, suggesting sellers are taking advantage of current market strength, including those struggling to meet their obligations after rapid interest-rate increases. Mortgage holders may feel more pain with economists and money markets divided over whether the Reserve Bank of Australia will lift rates at its meeting later Tuesday.
Australian equities futures are pointing to a strong open, after
global stocks finished higher in the final day of July. The S&P 500 notched its longest streak of monthly gains since August 2021, defying worries about an overheated market.
Economic growth in Australia’s biggest trading partner, China, is fading after decades of supercharged expansion. A much-anticipated post-pandemic recovery appears to have flopped, with data flashing warning signs across the economy. This time, the government’s traditional tools for reversing course may not be viable options. In the Bloomberg Originals mini-documentary China’s Great Slowdown, we look at why China’s slowdown could send ripples around the world.
Waste from winemaking may have uses in supplements, according to research from Monash University. Researchers found compounds in wine byproducts in can be made into a liquid that tastes and smells like a weak grape juice, and may have some health benefits. The polyphenols, which include things like resveratrol, and anthocyanins have been associated with protecting against health issues ranging from cancer to cardiovascular diseases and diabetes in some preliminary studies.
Up Next
House Price Growth Slows: Australia Briefing
Multiple people have been taken to the hospital following an explosion and fire at a commercial building in Chandler Monday afternoon, according to the Chandler Fire Department.
The fire department said around 20 people were inside the building, located near 56th Street and Chandler Boulevard, when the explosion occurred. Four people were injured and three of them were taken to the hospital.
An update on their conditions is not available.
The incident became a hazmat situation when chemicals were found to be in the building, according to fire department.
Police said roadways are closed near 56th Street and Chandler Boulevard, and 56th and Galveston streets as crews battle the fire. Eastbound and westbound traffic is shut down in the area, according to police.
Police are asking everyone to stay out of the area.
Crews from Chandler, Phoenix, Mesa, Tempe and Guadalupe are currently working the fire, according to the fire department.
Investigators are looking into what caused the explosion.
Sky12 footage shows fire crews spraying water over a large hole in the roof of a commercial building in the area.
Credit: 12News
Firefighters responding to an incident at a commercial building in Chandler on Monday, July 31.
This is a developing story; additional details will be added as they become available.
Jessica Rosenworcel, chair of the Federal Communications Commission, has introduced rules to support commercial space activities by ensuring the availability of needed spectrum resources for wireless communications services as part of the FCC’s Space Innovation agenda.
The new rules would implement a new allocation in the 2025 to 2110 MHz band for space launches, broaden the spectrum available in the 2200 to 2290 MHz band for commercial space activities on a secondary basis and advance technical and licensing rules for space launch missions, the commission said Friday.
“These rules will ensure commercial space launches have the necessary spectrum resources for reliable communications no matter their mission. These updates will promote economic strength, safety, competitiveness, and innovation,” said Rosenworcel.
“I urge my colleagues to join me in supporting this latest action to continue the United States’ long history of space leadership,” she added.
The rules would require the FCC’s office of engineering and technology to release a public notice on a new docket for public feedback on the expanded use of non-federal satellite bands by federal agencies and allow the deployment of federal space stations by amending the allocation for the 399.9 to 400.05 MHz band.
The AEI Housing Center recently announced a significant upward revision to its housing market outlook, as it expects U.S. home price growth to heat back up. It now expects a 6% increase in U.S. home prices for 2023, followed by a 7% surge in 2024.
“Despite the [home] purchase activity slowdown, year-over-year house price appreciation seems to have bottomed out,” wrote Ed Pinto, the director of the AEI Housing Center—an arm of the American Enterprise Institute, a center-right think tank based in Washington, D.C.
At the heart of this upward revision, he says, is the persistent issue of limited housing supply. There were 613,791 U.S. homes for sale in June 2023, down 49.7% from the 1.22 million for sale in June 2019, according to Realtor.com. With the exception of a few overheated markets like Austin, housing inventory remains incredibly tight.
That lack of inventory helped to reignite bidding wars this spring and caused the home price correction—on a national basis at least—fizzle out.
View this interactive chart on Fortune.com
Low unemployment rates, Pinto says, are another key factor fueling the housing market’s momentum. Strong job numbers have instilled confidence in consumers, leading more to take the plunge into homeownership, thus further stimulating demand and putting upward pressure on prices. Meanwhile, the relatively low number of foreclosures helped to maintain market stability even as some markets experienced a price correction last fall, he says.
The work-from-home trend, accelerated by the pandemic, has also continued to have a profound impact on the housing market. Remote workers can shop around the country for the best deals, creating what Pinto called “home price arbitrage.”
The latest revision from the AEI Housing Center is a notable departure from its previous projections. Early this year, Pinto told Fortune that he expected U.S home prices to fall 15% to 20% this cycle. However, that was walked back this spring as prices began to rebound. By May the think tank predicted that home prices would be flat in 2023, followed by a 3% increase in 2024.
The AEI Housing Center isn’t alone. Firms like Zillow and CoreLogic also think national house prices have bottomed. However, economists at Moody’s Analytics and Morgan Stanley think national house prices have a little more room to fall over the next few years.
Want to stay updated on the housing market? Follow me on Twitter at @NewsLambert.
This story was originally featured on Fortune.com
More from Fortune:
5 side hustles where you may earn over $20,000 per year—all while working from home
Looking to make extra cash? This CD has a 5.15% APY right now
Buying a house? Here’s how much to save
This is how much money you need to earn annually to comfortably buy a $600,000 home
Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.