NEW YORK — Cautious shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation.
Due to elevated prices for food, rent, gasoline and other essentials, many people were being more selective, reluctant to spend unless there was a big sale. Some were dipping more into savings, turning to “buy now, pay later” services that allow payment in installments, or running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy.
Sheila Diggs, 55, went to a Walmart in Mount Airy, Maryland early Friday looking for a deal on a coffee maker. To save money this year, she said the adults in her family are drawing names and selecting one person to shop for.
“Everything’s going up but your paycheck,” said Diggs, who manages medical records at a local hospital.
This year’s trends are a contrast from a year ago when consumers were buying early for fear of not getting what they needed amid supply-network clogs. Stores didn’t have to discount much because they were struggling to bring in items.
Early shopping turned out to be a fleeting trend, said Rob Garf, vice president and general manager of retail at Salesforce, which tracks online sales. People this year are holding out for the best bargains, and retailers responded this week with more attractive online deals after offering mostly lackluster discounts earlier in the season.
Online discounts rates were 31% on Thanksgiving, up 7% from the previous year, according to Salesforce data. The steepest discounts were in home appliances, general apparel, makeup and luxury handbags.
Macy’s Herald Square in Manhattan, where discounts included 60% off fashion jewelry and 50% off select shoes, was bustling with shoppers early Friday.
The traffic was “significantly larger” on Black Friday compared to the previous two years because shoppers feel more comfortable in crowds, Macy’s CEO Jeff Gennette said.
He said that bestsellers from Macy’s online sale, which started last weekend, included 50% off beauty sets. Last year Macy’s, like many other stores, had supply chain issues and some of the gifts didn’t arrive until after Christmas.
“Right now we are set and ready to go, “ he said.
Sophia Rose, 40, a respiratory specialist visiting Manhattan from Albany, New York, was heading into Macy’s with big plans to splurge after scrimping last year when she was still in school. She put herself on a budget for food and gas to cope with inflation but had already spent $2,000 for holiday gifts, and plans to spend a total of $6,000.
“I am going to touch every floor,” she said. “That’s the plan.”
Customer traffic was also higher than last year at Mall of America in Bloomington, Minnesota, according to Jill Renslow, executive vice president of business development of the shopping center. She said 10,000 people were at the sprawling mall during the first hour after the 7 a.m. opening, though inflation prompted many shoppers to figure out what to buy before showing up.
“With the economy, people are planning a little more,” she said.
Delmarie Quinones, 30, went to a Best Buy in Manhattan to pick up a laptop and printer she ordered online at $179, down from $379. Quinones, a health home aide, said that higher prices on food and other expenses are making her reduce her spending from a year ago, when she had money from government child tax-credit payments.
“I can’t get what I used to get,” said the mother of five children, ages 1 to 13. “Even when it was back to school, getting them essentials was difficult.”
Major retailers including Walmart and Target stuck with their pandemic-era decision to close stores on Thanksgiving Day, moving away from doorbusters and instead pushing discounts on their websites.
But people are still shopping on Thanksgiving — online. Garf said Salesforce data showed online sales spiked in the evening during the holiday this year, suggesting people went from feasting to phone shopping. And with holiday travel up, he said a greater share of online shopping occurred on mobile devices this year.
“The mobile phone has become the remote control of our daily lives, and this led to an increase in shopping on the couch as consumers settled in after Thanksgiving dinner,” Garf said.
But with more shoppers visiting stores this year, growth in online sales slowed.
Shoppers spent $5.3 billion online on Thanksgiving Day, up 2.9% from the holiday last year, according to Adobe Analytics, which monitors spending across websites. Adobe expects that online buying on Black Friday will hit $9 billion, up just 1% from a year ago.
Black Friday saw some of the labor unrest that has rippled through the retail industry over the past year. A coalition of trade unions and advocacy organizations are coordinating strikes and walkouts at Amazon facilities in more than 30 countries under a campaign called “Make Amazon Pay.” Among other places, hundreds of workers at a facility near the German city of Leipzig staged a protest Friday, calling for better working conditions and higher pay.
And at Walmart stores, some employees had Wednesday’s deadly shooting at a company store in Virginia in the back of their minds.
Jude Anani, a 35-year-old who works at a Walmart store in Columbia, Maryland, said the company offers training on how to react in such circumstances but he would like to see more protection. He was happy to see police officer standing outside the store, as is typical on Black Friday, and wished that was the case “most of the time during the year.”
Against today’s economic backdrop, the National Retail Federation — the largest retail trade group — expects holiday sales growth will slow to a range of 6% to 8%, from the blistering 13.5% growth of a year ago. However, these figures, which include online spending, aren’t adjusted for inflation, so real spending could even be down from a year ago.
Analysts consider the five-day Black Friday weekend, which includes Cyber Monday, a key barometer of shoppers’ willingness to spend. The two-month period between Thanksgiving and Christmas represents about 20% of the retail industry’s annual sales.
Hadero reported from Mount Airy, Maryland. Olson reported from Arlington, Virginia. Associated Press Personal Finance Writer Cora Lewis in New York contributed to this report.
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A person shops in an Apple store on Black Friday, Nov. 25, 2022, in New York. (AP Photo/Julia Nikhinson)
NEW YORK (AP) — Cautious shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation.
Due to elevated prices for food, rent, gasoline and other essentials, many people were being more selective, reluctant to spend unless there was a big sale. Some were dipping more into savings, turning to “buy now, pay later” services that allow payment in installments, or running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy.
Sheila Diggs, 55, went to a Walmart in Mount Airy, Maryland early Friday looking for a deal on a coffee maker. To save money this year, she said the adults in her family are drawing names and selecting one person to shop for.
“Everything’s going up but your paycheck,” said Diggs, who manages medical records at a local hospital.
This year’s trends are a contrast from a year ago when consumers were buying early for fear of not getting what they needed amid supply-network clogs. Stores didn’t have to discount much because they were struggling to bring in items.
Early shopping turned out to be a fleeting trend, said Rob Garf, vice president and general manager of retail at Salesforce, which tracks online sales. People this year are holding out for the best bargains, and retailers responded this week with more attractive online deals after offering mostly lackluster discounts earlier in the season.
Online discounts rates were 31% on Thanksgiving, up 7% from the previous year, according to Salesforce data. The steepest discounts were in home appliances, general apparel, makeup and luxury handbags.
Macy’s Herald Square in Manhattan, where discounts included 60% off fashion jewelry and 50% off select shoes, was bustling with shoppers early Friday.
The traffic was “significantly larger” on Black Friday compared to the previous two years because shoppers feel more comfortable in crowds, Macy’s CEO Jeff Gennette said.
He said that bestsellers from Macy’s online sale, which started last weekend, included 50% off beauty sets. Last year Macy’s, like many other stores, had supply chain issues and some of the gifts didn’t arrive until after Christmas.
“Right now we are set and ready to go, “ he said.
Sophia Rose, 40, a respiratory specialist visiting Manhattan from Albany, New York, was heading into Macy’s with big plans to splurge after scrimping last year when she was still in school. She put herself on a budget for food and gas to cope with inflation but had already spent $2,000 for holiday gifts, and plans to spend a total of $6,000.
“I am going to touch every floor,” she said. “That’s the plan.”
Customer traffic was also higher than last year at Mall of America in Bloomington, Minnesota, according to Jill Renslow, executive vice president of business development of the shopping center. She said 10,000 people were at the sprawling mall during the first hour after the 7 a.m. opening, though inflation prompted many shoppers to figure out what to buy before showing up.
“With the economy, people are planning a little more,” she said.
Delmarie Quinones, 30, went to a Best Buy in Manhattan to pick up a laptop and printer she ordered online at $179, down from $379. Quinones, a health home aide, said that higher prices on food and other expenses are making her reduce her spending from a year ago, when she had money from government child tax-credit payments.
“I can’t get what I used to get,” said the mother of five children, ages 1 to 13. “Even when it was back to school, getting them essentials was difficult.”
Major retailers including Walmart and Target stuck with their pandemic-era decision to close stores on Thanksgiving Day, moving away from doorbusters and instead pushing discounts on their websites.
But people are still shopping on Thanksgiving — online. Garf said Salesforce data showed online sales spiked in the evening during the holiday this year, suggesting people went from feasting to phone shopping. And with holiday travel up, he said a greater share of online shopping occurred on mobile devices this year.
“The mobile phone has become the remote control of our daily lives, and this led to an increase in shopping on the couch as consumers settled in after Thanksgiving dinner,” Garf said.
But with more shoppers visiting stores this year, growth in online sales slowed.
Shoppers spent $5.3 billion online on Thanksgiving Day, up 2.9% from the holiday last year, according to Adobe Analytics, which monitors spending across websites. Adobe expects that online buying on Black Friday will hit $9 billion, up just 1% from a year ago.
Black Friday saw some of the labor unrest that has rippled through the retail industry over the past year. A coalition of trade unions and advocacy organizations are coordinating strikes and walkouts at Amazon facilities in more than 30 countries under a campaign called “Make Amazon Pay.” Among other places, hundreds of workers at a facility near the German city of Leipzig staged a protest Friday, calling for better working conditions and higher pay.
And at Walmart stores, some employees had Wednesday’s deadly shooting at a company store in Virginia in the back of their minds.
Jude Anani, a 35-year-old who works at a Walmart store in Columbia, Maryland, said the company offers training on how to react in such circumstances but he would like to see more protection. He was happy to see police officer standing outside the store, as is typical on Black Friday, and wished that was the case “most of the time during the year.”
Against today’s economic backdrop, the National Retail Federation — the largest retail trade group — expects holiday sales growth will slow to a range of 6% to 8%, from the blistering 13.5% growth of a year ago. However, these figures, which include online spending, aren’t adjusted for inflation, so real spending could even be down from a year ago.
Analysts consider the five-day Black Friday weekend, which includes Cyber Monday, a key barometer of shoppers’ willingness to spend. The two-month period between Thanksgiving and Christmas represents about 20% of the retail industry’s annual sales.
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Hadero reported from Mount Airy, Maryland. Olson reported from Arlington, Virginia. Associated Press Personal Finance Writer Cora Lewis in New York contributed to this report.
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Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio
The agriculture sector is an evergreen sector of the economy. The world will always need food, and the companies in this sector help ensure the world is fed. In fact, agriculture stocks are typically considered to be in the same category as consumer staples because demand remains constant no matter what is happening in the broader economy.
This is also a diverse sector. And that can get confusing for investors. Investors can buy into pure-play companies that make fertilizer and pesticides. You can choose to look at companies such as Deere & Company (NYSE:DE) that supply the equipment that many farms use.
And as interest in sustainable agriculture is growing, so is this sub-sector which creates another path for investors, particularly those who are focused on ESG (environmental, social, and corporate governance) concerns.
This presentation highlights seven agricultural stocks that offer investors different ways to play the sector.
How sweet it is!
Beloved East Village fixture Ray’s Candy Store was spared from shutting its doors after its 89-year-old owner fell behind on his bills thanks to nearly $50,000 in donations from his sweet-toothed customers, Side Dish has learned.
The store’s owner, Ray Alvarez, has been slinging egg creams and fried Oreos for 49 years to customers from Bruce Willis and Madonna to Kim Kardashian and local cops, firefighters and teenagers.
He even kept the doors open during the infamous 1988 Tompkins Square Park riots, saying the “combatants” were his customers.
But Alvarez got slammed first by the pandemic and then by inflation. The bills began piling up, including $18,000 from ConEd.
“All my costs doubled, from cooking oil and potatoes to electricity,” Alvarez told Side Dish.
The rent is also high, he tells Side Dish, although his residential rent — he lives above the store — is around $564 a month.
“Rent is a killer. When I started in 1974, I paid $125 and now I am paying $6,185 a month. After I paid my rent and the electricity, I didn’t have any money for my health,” Alvarez said.
He borrowed $10,000 from two sisters – aged 74 and 64 – who work for him. After he burned through that, Alvarez borrowed $1,000 from a friend. But when he needed more cash, the next pal Alvarez asked said he couldn’t lend him any money but could set up a GoFundMe page. The friend has requested anonymity.
The goal was to raise $19,740. Instead, it raised $48,986 – in one week, Alvarez said.
“Everyone loves Ray,” said Nicolas Heller, a 33-year-old Williamsburg resident who has been coming to the shop at 113 Avenue A by Tompkins Square Park since he was a teenager, mainly for the ice cream. “He was always a fixture. Ray has been this old man working in the wee hours of the night, keeping the lights on for his business for as long as I can remember.”
Heller posted about Alvarez’s plight and the GoFundMe drive on “New York Nico,” which chronicles the city and its characters on Instagram, and boasts one million followers.
The donations and tributes came pouring in.
One person donated $2,000. Another donated $10, writing: “Ray you are an East Village icon! Thank you so much for the decades of joy you’ve brought to thousands of people alike, and your soulful commitment to your neighbourhood. We love you!!!!!!”
Added a $15 contributor: “We love you, Ray, and we’ll always be here for you as you have always been there for us..happy early birthday!”
Alvarez, born Asghar Ghahraman, was a young Iranian navy sailor when he literally jumped ship in America in the early 1960s. The penalty for desertion was death. He lived as an illegal immigrant for close to 50 years before gaining American citizenship in 2011. His life was chronicled in a documentary by fellow Iranian-born filmmaker Arya Ghavamian, in 2018.
Thanks to the generous GoFundMe campaign, Alvarez says he plans to keep Ray’s open permanently – continuing to put in 20-hour days, seven days a week. He often works the overnight shifts and can be found sleeping in the back.
“People help me. Sometimes, they buy one egg cream, give me $100 and say, ‘Keep the change,’” he said.
Laura Stassberger, 64, has been coming to Ray’s for “the ice cream and shakes” for the past 40 years. She works as a companion and recently popped in with Orin Soloway, 81, a retired newspaper journalist.
“I have been coming here since my 20s. I love Ray. He has the best egg creams and I love when he tells me he loves me. But today he only had love for Orin and gave her free ice cream,” Strassberger said with a smile. “Ray’s has the best egg creams and it’s a neighborhood staple. I would hate to see it go.”
Alvarez said he has no desire to sell the store – even as he turns 90 in January.
“A few people want to buy it, but it’s my lifeline. I’m alive because of the candy store, and if I sell it, I will die. I don’t want to sit home and watch TV. My life is hooked up with the candy store,” he said. “If I sell my business, I will die the next day because the candy store is my life. Everyone knows me and comes by and says hello and we talk about music, and if I sell, then I will be alone, by myself.”
Swing by the store and you’ll likely see Alvarez’s signature move, smiling as he shouts out the window to passersby, “I love you!”
The feeling has been mutual for 49 years.
Citymeals pays tribute to Greene
We hear…that Citymeals on Wheels raised $3.7 million at its 35th annual power lunch at the Plaza Hotel last week — including a surprise donation of $2.5 million from the estate of a late supporter. Those in attendance, which included Citymeals volunteers Jenna Bush Hager and her twin sister Barbara Pierce Bush, were teary-eyed at multiple times during the event — the first since the passing of its legendary founder, restaurant critic Gael Greene earlier in November.
“Gael had a presence that was larger than life. She was sorely missed,” said restaurateur Penny Glazier, who has been attending the event since 1992.
Emceed by MSNBC host Stephanie Ruhle, others at the event included Citymeals executive director Beth Shapiro, Daniel and Katherine Boulud, Sienna Miller, Deborah Roberts, Savannah Guthrie, and Lizzie and Jonathan Tisch.
Citymeals has delivered more than 67 million meals since its founding and has become the largest nonprofit meals on wheels program in the country. One in 10 older New Yorkers face food insecurity. Around 14% of Citymeals recipients live on just the one meal a day the group delivers.
CHARLOTTE, N.C., Nov. 22, 2022 (GLOBE NEWSWIRE) — LiveToBeHappy, Inc. (OTC: CAVR) (“LTBH” or the “Company”), a vertically integrated lifestyle services company focused on building brands that improve lives, announced that it has appointed Joe Caprino as President and Chief Commercial Officer.
Mr. Caprino brings over 30 years of experience specializing in business development for companies from the start-up phase to $500 million enterprises. He currently services as Principal at Caprino Management and was recently appointed to LTBH’s Board of Directors. Mr. Caprino has extensive experience in the education, hospitality, and real estate sectors, where he previously served in executive level positions leading sales, marketing, and business development. Mr. Caprino’s expertise includes strong corporate governance, the creation of strategic alliances, and managing post-acquisition integrations. He has a master’s degree from St. Bonaventure University and earned his BS in international Management from the State University of New York in Fredonia.
Mr. Caprino will be responsible for designing and implementing the Company’s commercial strategy to drive business growth and will oversee transformation and management of subsidiaries, including Sinacori Builders, Hospitality Restoration Services, RenuYou, Trudant Executive Services, GTA, AV Rover, Canary Travel, DRIP Fitness, and Monument Group.
“On behalf of our board and management team, I would like to welcome Joe to the position, and we are privileged to have someone of his caliber serve as our President and Chief Commercial Officer,” said Kevin Cox, Chief Executive Officer of LTBH. “With his broad experience in developing and implementing growth strategies and a history of achieving measurable results for various companies, we believe Joe will be instrumental as we continue to focus on organic growth and driving additional scale through accretive acquisitions. Joe will help us expand the breadth and depth of our reach as a company, positioning us to generate sustainable value for our shareholders.”
Mr. Caprino added, “LiveToBeHappy is a uniquely positioned company with a portfolio of unique, compelling brands that have meaningful impact on people’s lives. I look forward to working with Kevin and the team to execute on the company’s plans focused on operational excellence, expansion and on broadening the company’s overall portfolio.”
About LiveToBeHappy, Inc.
LiveToBeHappy, Inc. (OTC: CAVR) is a vertically integrated platform company focused on developing and building lifestyle brands. The Company acquires undervalued assets and manages a diversified portfolio of technology, education, and real estate services companies. The LTBH mission is to build lives, not just places to live. For more information, please visit our website at www.livetobehappy.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.
Company Contact:
IR@LTBH.com
Investor Relations:
MZ North America
+1 949-546-6326
LTBH@mzgroup.us
Airbnb’s co-founder Brian Chesky has opened up his San Francisco home allowing guests to stay in a private room boasting “panoramic views” – but the only problem is, there’s no available dates.
Mr. Chesky, who founded the company in 2008 and has an estimated net worth of almost $12 billion, recently listed his “thoughtfully designed suite” as part of a promotion to encourage more people to rent out their spare rooms on the platform to earn extra cash amid a cost-of-living crisis.
“Stay with me – the co-founder of Airbnb and its first host. Back in the day, my roommate Joe and I blew up some air mattresses and welcomed three guests – Michael, Kat and Amol,” he wrote in the listing.
“This time, I’ve upgraded from airbeds to a guest suite in my home. You’ll spend time with me and Sophie, my golden retriever, as I share stories from the early days – or you can relax in your suite, decorated with some of my favorite pieces of Airbnb history.”
He said guests will have access to a full bathroom with a large shower and can also use the “spacious chef’s kitchen” or hang out in the “sunny living room with floor-to-ceiling windows”.
However, he has since been mocked over the publicity stunt as many have discovered that there are no available dates until October 2024, when the stay period ends.
“Another PR stunt Brian, no availability in a zero price tag. You yet again delivered something unattainable,” one annoyed Twitter user wrote.
“No available slots ’til 2024,” said another.
But the 41-year-old was quick to shut down the comments explaining on his Instagram he had “some weekends in January, February and March, but they booked out even before I posted this”.
“[But] I’ll keep adding weekends throughout the year,” he said.
While some branded the listing as “incredible” thanking for opening up his home to strangers, others were annoyed they missed out as available slots appeared to have been booked.
“Sounds great but there’s no availability for the entire 2023 and beyond by the looks??” one person Tweeted, to which Mr. Chesky assured he will “add some more weekends soon”.
Some people are so eager to stay at the tech billionaire’s property, they’re even willing to buy it.
“Anyone who got a slot willing to sell?” one person asked.
“If you get any, let me know I could buy it for even 69x,” added another.
Mr. Chesky explained that when guests arrive at his San Francisco property they will be treated to “Chesky Chip Cookies” on arrival.
“You’ll be served six cups of coffee before noon (just like me),” he tweeted.
“We will work out together and train until total muscle failure (after we’ve eaten lots of cookies),” he added alongside a snap of a gym.
He explained his home is located near the Mission, Castro and Noe Valley neighborhoods with “plenty of great boutiques, restaurants and coffee shops”.
“You’ll be just a short walk from beautiful Dolores Park, Bi-Rite ice cream and the world-famous Tartine bakery for fresh bread and pastries. Also, guests must love dogs. Or at least Sophie.”
Meanwhile, even hip hop mogul and sneaker connoisseur DJ Khaled will open the doors to a recreation of his iconic, viral sneaker closet for just $10.62 a night.
Booking opens on Nov. 29 at 1 p.m. EST.
“Sneakers have always been a MAJOR part of my life. Now, in honor of my upcoming We The Best Air Jordan 5 collection drop, I’m GRATEFUL for the opportunity to invite guests to kick it in my sneaker kingdom,” DJ Khaled said in his listing.
He said guests will be able to sleep in his “legendary” sneaker collection.
“During the stay, guests will have the chance to live and breathe Miami the same way I do – epically. I’m rolling out all the big stops, including an exclusive pair of We The Best Air Jordan 5s, a handwritten welcome note from me upon arrival and the keys to the ultimate sneaker kingdom, sleeping amid some of my most prized kicks.”
Both listings come as part of the company’s winter promotions after it revealed on Wednesday it recorded a “disproportionate” 31 percent rise in single-room listings in the third quarter, as more people sought extra income in the face of a cost-of-living crisis.
According to Reuters, the company said property listings rose across regions, without disclosing specific numbers, and to aid the growth, it unveiled an app update on Wednesday to make the process easier.
“We have seen a lot of people being more interested than even before in hosting to defray their cost of living,” Mr. Chesky said, as high inflation due to the Ukraine war puts fragile household budgets under pressure.
Reuters reported about 46 percent of hosts on Airbnb said they used the extra money from renting out properties to pay for food and other items, while one in 10 said it helped them avoid eviction or foreclosure, Airbnb said, citing a survey.
Some popular tourist destinations have, however, blamed the company for aggravating housing shortages, as landlords increasingly rent out properties to holiday-makers amid a surge in travel, rather than going for long-term tenants. Airbnb co-founder Nathan Blecharczyk, in an interview with Reuters, blamed rising interest rates for creating a shortage of new homes, adding it has also been tough for the industry to adapt to buyers increasingly looking for homes outside big cities.
Meanwhile, the company said longer guest stays due to remote working will continue to boost results, as travel demand shows no signs of easing despite economic headwinds.
Company expands crop set into new varietals of premium snacking tomatoes
Company announces planting of 360,000 tomato plants at new 60-acre Richmond, Ky., farm as it works to quadruple number of farms in 2022
MOREHEAD, Ky., Nov. 22, 2022 (GLOBE NEWSWIRE) — AppHarvest, Inc. (NASDAQ: APPH, APPHW), a sustainable food company, public benefit corporation and Certified B Corp building some of the world’s largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in Appalachia announced today it has kicked off the third season of harvesting ahead of schedule with commercial shipments of tomatoes from its 60-acre high-tech indoor farm in Morehead, Ky.
Martha Stewart, an AppHarvest board member, hosted a press conference for the company’s first harvest of tomatoes in January of 2021. Since that time, the company has opened two additional high-tech indoor farms—a 30-acre farm in Somerset, Ky., for strawberries and cucumbers and a 15-acre farm in Berea, Ky., for salad greens—both of which are currently shipping produce to top national grocery store chains, restaurants and food service outlets through its distributor, Mastronardi Produce. AppHarvest is shipping strawberries under the “WOW® Berries” brand from nearly 1 million strawberry plants and a variety of salad greens for the “Queen of Greens®” washed-and-ready-to-eat salad packs.
As AppHarvest works to quadruple its number of farms in 2022, the company continues construction on a fourth facility, a 60-acre farm in Richmond, Ky., that will grow tomatoes. While finalizing construction, half the Richmond farm has been planted with 360,000 Campari and Maranice varieties of “Tomatoes on the Vine,” which are expected to start harvesting in January of 2023.
“With the experience of two seasons of harvests, the Morehead farm is seeing significantly improved quality and yield, which largely can be attributed to task completion rates of crop care specialists meeting and sometimes exceeding 100% of goal,” said AppHarvest Founder & CEO Jonathan Webb. “We’re developing a tenured workforce and seeing benefits of promoting from within to help drive efficiency and quality from folks who have grown the business with us from the ground up.” The AppHarvest team has continued to enhance training with routine quality checks of crop care tasks, which facilitates quick retraining if needed.
For its third season of harvesting, the AppHarvest Morehead farm has further diversified its crop set adding snacking tomatoes sold under the Sunset brand as “Flavor Bombs®” and “Sugar Bombs®.” Morehead is growing roughly 50% beefsteak tomatoes, 25% Tomatoes on the Vine and 25% snacking tomatoes.
According to USDA reports, the value of U.S. fruit and vegetable imports rose to a record level in 2021 and has been projected to keep increasing in 2022. Changing weather patterns—ranging from mega-drought in the Southwest of the U.S. to more frequent flooding to catastrophic wind events—are making it harder than ever for open-field farmers to predict the duration of their growing seasons and to have conditions that result in a quality harvest. Major food retailers have demonstrated increasing interest in high-tech indoor farms for their ability to de-risk fruit and vegetable production with a more climate-resilient, more sustainable year-round growing solution that uses far fewer resources. Europe, a pioneer in the industry, is estimated to have nearly 520,000 acres of CEA production compared to an estimated 6,000 acres in the United States.
About AppHarvest
AppHarvest is a sustainable food company in Appalachia developing and operating some of the world’s largest high-tech indoor farms with robotics and artificial intelligence to build a reliable, climate-resilient food system. AppHarvest’s farms are designed to grow produce using sunshine, rainwater and up to 90% less water than open-field growing, all while producing yields up to 30 times that of traditional agriculture and preventing pollution from agricultural runoff. AppHarvest currently operates its 60-acre flagship farm in Morehead, Ky., producing tomatoes, a 15-acre indoor farm for salad greens in Berea, Ky., and a 30-acre farm for strawberries and cucumbers in Somerset, Ky. The company continues construction on a 60-acre indoor farm for tomatoes in Richmond, Ky. The four-farm network that is expected to be operational by the end of 2022 consists of 165 acres. For more information, visit https://www.appharvest.com/.
Forward-Looking Statements
Certain statements included in this news release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words or phrases such as “will,” “estimate,” “work to,” “continue,” “expect,” “plan,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this news release, regarding AppHarvest’s intention to build high-tech CEA farms, AppHarvest’s expectation of the landscape of the fruit and vegetables market, the economic impact of changing weather patterns on production for open-field farmers, the anticipated benefits of and production at such facilities, timing and availability of produce, AppHarvest’s future financial performance, AppHarvest’s growth and evolving business plans and strategy, ability to capitalize on commercial opportunities, future operations, estimated financial position and cash flow, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this news release, and on the current expectations of AppHarvest’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AppHarvest. These forward-looking statements are subject to a number of risks and uncertainties, including those discussed in the company’s Quarterly Report on Form 10-Q filed with the SEC by AppHarvest on Nov. 7, 2022, under the heading “Risk Factors,” and other documents AppHarvest has filed, or that AppHarvest will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect AppHarvest’s expectations, plans, or forecasts of future events and views as of the date of this press release. AppHarvest anticipates that subsequent events and developments will cause its assessments to change. However, while AppHarvest may elect to update these forward-looking statements at some point in the future, AppHarvest specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing AppHarvest’s assessments of any date subsequent to the date of this news release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact: Darla Turner, Darla.Turner@appharvest.com
Investor Contact: AppHarvestIR@appharvest.com
Photos accompanying this announcement are available at:
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WASHINGTON — President Joe Biden continued a 75-year tradition Monday and pardoned a pair of Thanksgiving turkeys named after his favorite flavor of ice cream while cracking jokes about his political party’s better-than-expected performance in this month’s midterm elections.
“The votes are in, they’ve been counted and verified,” Biden said as he welcomed Chocolate and Chip before hundreds of people gathered on the South Lawn in unseasonably cold weather. “There’s no ballot stuffing. There’s no fowl play. The only red wave this season’s gonna be if German Shepard Commander knocks over the cranberry sauce on our table.“ Commander is his dog.
Chocolate and Chip, each weighing nearly 50 pounds (22.68 kilograms), were driven up from North Carolina on Saturday and were checked into a room at the Willard hotel near the White House to await their visit with the president and his declaration of their freedom.
The combination of chocolate and chip is Biden’s favorite flavor of ice cream. The president joked at the event that “we could have named them Chips and Science,” after the $280 billion CHIPS and Science Act that Biden championed and signed into law this year.
“I hereby pardon Chocolate and Chip,” Biden declared. Before the ceremony, Biden’s son Hunter Biden brought his toddler son, Beau, who is almost 3, outside to see the turkeys.
Both gobblers were hatched in July in Monroe, North Carolina, according to the National Turkey Federation, sponsor of the turkey tradition, which dates to 1947 and President Harry Truman.
The burst of holiday activity at the White House followed a busy weekend personally for Biden and his family, along with midterm elections that saw the president’s Democratic Party perform well enough to defy historical trends that forecast huge losses. Democrats will keep control of the Senate and, although Republicans will control the House when a new Congress is seated in January, Democrats did keep GOP gains in that chamber to a minimum.
The official White House Christmas tree also was delivered Monday, and the Bidens planned to help serve a Thanksgiving-style dinner on a North Carolina Marine Corps base.
Biden and his wife, Jill, were scheduled to leave Washington on Tuesday to continue their family tradition of spending the Thanksgiving holiday on the Massachusetts island of Nantucket. They hosted the wedding of their granddaughter, Naomi Biden, at the White House on Saturday, followed by a family brunch on Sunday for the president’s 80th birthday.
Humor aside, the president ended Monday’s event on a serious note, encouraging people to get their COVID-19 vaccines to ensure a healthy holiday season. He also encouraged Americans to reflect and “be grateful for what we have.”
“This is a special time … in the greatest nation on Earth, so let’s be thankful,” Biden said.
Chocolate, and an alternate turkey, Chip, were set to live the rest of their lives on the campus of North Carolina State University.
Jill Biden did her part by receiving the official White House Christmas tree. The 18 foot- (5.5 meters) -tall Concolor fir grown on a farm in Pennsylvania, the state where the first lady grew up, will fill up the Blue Room after a chandelier is temporarily removed so the tree can be anchored in place for safety.
“I love the tree,” the first lady said after she was asked how she liked it. She held the hand of her grandson Beau. “He wanted to come out and see the tree.”
Volunteer decorators began arriving at the White House on Monday to start sprucing it up for Christmas, according to a theme first ladies traditionally reveal after Thanksgiving.
Paul and Sharon Shealer of Auburn, Pennsylvania, were crowned this year’s Grand Champion Grower in the National Christmas Tree Association’s National Christmas tree contest. With the award, the winner gets to present a Christmas tree to the White House.
It’s the second time that the Shealers have claimed the association’s top honor. They presented a tree to first lady Hillary Clinton in 2000.
Later Monday, the Bidens were heading to Marine Corps Air Station, Cherry Point, near the North Carolina coast for friendsgiving, or to share a Thanksgiving-style meal with members of the military and their families.
The first lady leads a White House initiative named Joining Forces to support and promote the sacrifices and needs of military families. The president has pushed for and has signed several bills to help service members and veterans, including legislation expanding health care for those who were exposed to toxins from the burning of waste in Iraq or Afghanistan, or to chemicals that were used in previous conflicts.
The Bidens’ late son Beau Biden served in the Delaware Army National Guard, including a tour in Iraq, before he died of brain cancer in 2015.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
WASHINGTON — Legislation to protect same-sex and interracial marriages crossed a major Senate hurdle Wednesday, putting Congress on track to take the historic step of ensuring that such unions are enshrined in federal law.
Twelve Republicans voted with all Democrats to move forward on the legislation, meaning a final vote could come as soon as this week, or later this month. Senate Majority Leader Chuck Schumer said the bill ensuring the unions are legally recognized under the law is chance for the Senate to “live up to its highest ideals” and protect marriage equality for all people.
“It will make our country a better, fairer place to live,” Schumer said, noting that his own daughter and her wife are expecting a baby next year.
Senate Democrats are quickly moving to pass the bill while the party still controls the House. Republicans are on the verge of winning the House majority and would be unlikely to take up the issue next year.
In a statement after the vote, President Joe Biden said that he sign the bill once it is passed.
“Love is love, and Americans should have the right to marry the person they love,” Biden said.
The bill has gained steady momentum since the Supreme Court’s June decision that overturned Roe v. Wade and the federal right to an abortion. An opinion at that time from Justice Clarence Thomas suggested that an earlier high court decision protecting same-sex marriage could also come under threat.
The legislation would repeal the Clinton-era Defense of Marriage Act and require states to recognize all marriages that were legal where they were performed. The new Respect for Marriage Act would also protect interracial marriages by requiring states to recognize legal marriages regardless of “sex, race, ethnicity, or national origin.”
Congress has been moving to protect same-sex marriage as support from the general public — and from Republicans in particular — has sharply grown in recent years, as the Supreme Court’s 2015 Obergefell v. Hodges decision legalized gay marriage nationwide. Recent polling has found more than two-thirds of the public supports same-sex unions.
Still, many Republicans in Congress have been reluctant to support the legislation, with many saying it was unnecessary while the marriages are still protected by the courts. Democrats delayed consideration until after the midterm elections, hoping that would relieve political pressure on some GOP senators who might be wavering.
A proposed amendment to the bill, negotiated by supporters to bring more Republicans on board, would clarify that it does not affect rights of private individuals or businesses that are already enshrined in law. Another tweak would make clear that a marriage is between two people, an effort to ward off some far-right criticism that the legislation could endorse polygamy.
Three Republicans said early on that they would support the legislation and have lobbied their GOP colleagues to support it: Maine Sen. Susan Collins, North Carolina Sen. Thom Tillis and Ohio Sen. Rob Portman. They argued that there was still value in enshrining the rights for such marriages even if the courts don’t invalidate them.
“Current federal law doesn’t reflect the will or beliefs of the American people,” Portman said ahead of the vote. “It’s time for the Senate to settle the issue.”
In the end, nine of their GOP colleagues joined them in voting for it, bringing the total to twelve and providing enough votes needed to overcome a filibuster in the 50-50 Senate. The other Republicans who voted for the legislation were Sens. Richard Burr of North Carolina, Todd Young of Indiana, Shelley Moore Capito of West Virginia, Mitt Romney of Utah, Joni Ernst of Iowa, Roy Blunt of Missouri, Cynthia Lummis of Wyoming and Lisa Murkowski and Dan Sullivan of Alaska.
The growing GOP support for the issue is a sharp contrast from even a decade ago, when many Republicans vocally opposed same-sex marriages. The legislation passed the House in a July vote with the support of 47 Republicans — a larger-than-expected number that gave the measure a boost in the Senate.
On Tuesday, The Church of Jesus Christ of Latter-day Saints became the most recent conservative-leaning group to back the legislation. In a statement, the Utah-based faith said church doctrine would continue to consider same-sex relationships to be against God’s commandments, but it would support rights for same-sex couples as long as they didn’t infringe upon religious groups’ right to believe as they choose.
Wisconsin Sen. Tammy Baldwin, a Democrat who is the first openly gay senator and has been working on gay rights issues for almost four decades, said the newfound openness from many Republicans on the subject reminds her “of the arc of the LBGTQ movement to begin with, in the early days when people weren’t out and people knew gay people by myths and stereotypes.”
Baldwin said that as more individuals and families have become visible, hearts and minds have changed.
“And slowly laws have followed,” she said. “It is history.”
Schumer said the issue is personal to him, as well.
“Passing the Respect for Marriage Act is as personal as it gets for many senators and their staffs, myself included,” Schumer said. “My daughter and her wife are actually expecting a little baby in February. So it matters a lot to so many of us to get this done.”
Associated Press writer Sam Metz in Salt Lake City contributed to this report.
A modern property in Langar, boasting paddocks and woodland, has been listed on Zoopla for over £1.5 million.
Royston & Lund Estate agents has listed Bridge Hill Farm, a five-bedroom house on Cropwell Road, for £1,595,000, which is set on eight acres with a range of paddocks, woodland, an extended farmhouse and several outbuildings.
The detached house, with four bathrooms and three reception rooms, has been extended and refurbished to a “impeccable standard” by the current owners.
The entrance hallway presents itself with a double height and vaulted ceiling and also features an oak staircase.
The open plan kitchen benefits from a central island, integrated appliances including a Rangemaster oven, a microwave, and a dishwasher alongside a bay window.
French doors are situated to the side elevation and there is also a log burner, a perfect addition to the home as we approach Christmas.
Next to the kitchen there is also a dining room for more formal occasions.
The garden room is light and airy and leads to a large reception room which includes an inglenook fireplace with a log burner.
The large bay window in the room features a window seat, allowing you to overlook the surrounding fields.
There is also a separate office room, utility room and two downstairs bathrooms, completing the ground floor.
The first floor of the property leads to a master suite with a walk-in wardrobe and en suite shower room.
On this floor, there is an additional two double bedrooms with en suite shower rooms, two other bedrooms and a family bathroom featuring a four-piece suite.
The front of the house features a gated gravel driveway, providing occupants with off-street parking.
The garden also benefits from an enclosed allotment with raised beds, a greenhouse and poultry houses.
There is also a detached double car port with an integral garage and a workshop with a detached single garage.
To view the property, you can see it at zoopla.co.uk/for-sale/details/62735231/
The house is located in the village of Langar within the Vale of Belvoir and is situated opposite Langar Hall.
House prices will fall in 2023, but affordability will be at its worst since 1985, says Capital Economics
Home prices will fall next year by 8%, as mortgage rates and a recession will continue to hurt affordability, a new report says.
The report by Capital Economics, published this month, which outlines its outlook for housing over next year, warned that sales will slump and housing prices will fall.
With lending standards still tight, and affordability poised to worsen, expect purchasing power to deteriorate, and housing prices to fall by 8% by mid-2023, the group said.
“Given that we are unlikely to see an improvement in affordability anytime soon, many buyers will be priced out of the market, while others will simply be unwilling to make a purchase,” the group stated in their report.
“As bidders become scarcer, market power will shift further from sellers to buyers,” they added.
Sellers, currently sitting on homes enjoying ultra-low mortgage rates, will be forced to accept lower prices over the next year, Capital Economics said. After home prices fall 8% in mid-2023, compared to this year, expect price growth to recover to 2.5% by the end of 2024, they added.
“After home prices fall 8% in mid-2023, compared to this year, expect price growth to recover to 2.5% by the end of 2024.”
— Capital Economics
Capital Economics also expects mortgage rates to “hold close to 7% over the remainder of next year” which means affordability will be at its worst since 1985.
For a household with a median income buying a median-priced home, the mortgage payment as a share of income rose to 28.5% in October 2022 from 13.3% in May 2020, the group said.
(The median listing price for a home in the U.S. is currently $425,000, up 13% over the last 12 months, according to Realtor.com. Realtor.com is operated by News Corp subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which is also a subsidiary of News Corp.
+1.05% .
NWSA,
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Mortgage rates will go back down to 5.75% by the end of 2023, they forecasted.
The group also expects the U.S. economy to fall into a “mild recession” in 2023, and expects single-family sales to fall to the lowest level since 2011. It also expects single-family starts, or construction of single-family homes, to fall to the lowest level since 2014. The market will recover in 2024, they added.
Even though prices are expected to fall, people are likely to still find it hard to afford to buy a home, and more buyers will likely spill over into the rental market, Capital Economics added.
Some good news: Expect a surge in new supply next year as well, as builders complete construction on homes, which will prompt rents to fall 0.5% in 2023, they forecasted.
Got thoughts on the housing market? Write to MarketWatch reporter Aarthi Swaminathan at aarthi@marketwatch.com
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