‘Mainstream, not extreme’ was sentiment for interfaith advocacy day at…

first_img Human Sexuality Rector Belleville, IL ‘Mainstream, not extreme’ was sentiment for interfaith advocacy day at Texas capitol Advocacy Peace & Justice, Submit a Job Listing Rector Martinsville, VA Ecumenical & Interreligious, Tags Director of Music Morristown, NJ Ronald Davin says: Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Posted Aug 3, 2017 AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Featured Events Associate Rector for Family Ministries Anchorage, AK Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Comments (3) Course Director Jerusalem, Israel Submit a Press Release Missioner for Disaster Resilience Sacramento, CA Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector Collierville, TN The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Youth Minister Lorton, VA Director of Administration & Finance Atlanta, GA Rector Shreveport, LA Christine Wendt says: Rector Pittsburgh, PA August 4, 2017 at 3:56 am Mr. Davin, I believe your question would be reported and removed on most social media discussion sites for “trolling.” If you think about it for one minute you know very well that the issue is one of allowing people to choose the bathroom that aligns with the gender they know themselves to be. No one is trying to do away with gendered bathrooms. I can feel your anger pulsating in your (insincere) question and I hope you think about why the existence of transgendered people makes you so angry. Terry Francis says: Rector/Priest in Charge (PT) Lisbon, ME The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Featured Jobs & Calls Comments are closed. Cathedral Dean Boise, ID Curate (Associate & Priest-in-Charge) Traverse City, MI Assistant/Associate Rector Washington, DC In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Rector Knoxville, TN TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Press Release Service Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem New Berrigan Book With Episcopal Roots Cascade Books Rector Smithfield, NC August 3, 2017 at 7:37 pm So why does my Church still sport 2 bathrooms, 1 for each gender. Do they not believe in lading by example ? Rector Washington, DC Curate Diocese of Nebraska Rector Albany, NY August 4, 2017 at 11:48 am Spoken like a true progressive Christine – condescending, self-rightous and judgemental. Assistant/Associate Priest Scottsdale, AZ Rector (FT or PT) Indian River, MI Bishop Diocesan Springfield, IL Canon for Family Ministry Jackson, MS Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Priest Associate or Director of Adult Ministries Greenville, SC Rector Tampa, FL The Rev. Lisa Hunt, rector of St. Stephen’s, Houston and the Rev. Jon Page, pastor of First Congregational Church, Houston met with Rep. Todd Hunter, chair of the Calendar Committee of the Texas Legislature during an Interfaith Advocacy Day to oppose the “bathroom” bill.[Episcopal Diocese of Texas] A broad coalition of mainstream Texas religious leaders spoke out Aug.1 against Senate Bill 3 and other so-called “bathrooms bills” that would discriminate against transgender youths and adults.The speakers, who represent millions of mainstream faith community members, included leaders from the Christian, Jewish and Muslim traditions, and a non-denominational Christian parent of a transgender child.More than 350 people gathered on the Capitol steps in Austin and under the shade of oaks lining the walkway to lend their voices in opposition to the contentious “bathroom” bill (HB46, SB3) in a day of interfaith advocacy sponsored by Texas Impact.“This is what theology looks like,” General Presbyter Sallie Sampsell Watson of Mission Presbytery in San Antonio told the crowd.Mufti Mohamed-Umer Esmail of Austin also spoke at the morning press conference. “The Quran states, God is the one who shapes you in the wombs however He pleases,” Esmail said. “The Prophet Muhammad (peace be upon him) said, ‘Indeed God does not look at your faces and bodies, rather he looks at your hearts and deeds.’ I call upon the governor of Texas and the legislature: Enough of the transphobia! Y’all means all!” echoing the slogan on signs that many were carrying.Citing “emotional and spiritual damage that discrimination does to transgender people,” Presiding Bishop Michael Curry and the Rev. Gay Clark Jennings, president of the House of Deputies, wrote to House Speaker Joe Straus earlier in support of his opposition to any bathroom bill. The Episcopal Church will hold its General Convention in Austin in July 2018.Following the morning press conference, Texas Impact, offered a brief training on the “10 commandments” of speaking with elected officials, then small groups went to meet with individual senators and representatives and their staffs.The Rev. Lisa Hunt, rector of St. Stephen’s, Houston; the Rev. Judith Liro (ret) and the Rev. Janice Krause, priest-in-charge of St. James’, Austin, participated with a number of Episcopal lay people including Molly Sharp of St. David’s, Austin and S. Wayne Mathis of St. Andrew’s, Houston.Participants were reminded to be positive, brief and to say “Thank you.” By all accounts, those who gathered had very positive experiences in meeting with either a staff person or their representatives and senators.Rep. Todd Hunter is chair of the Calendars Committee. An active Episcopalian, Hunter met with Hunt and the Rev. Jon Page, pastor of First Congregational Church of Houston.Hunt told the seven-term congressman that transgender children and their families will have a hard time finding a safe environment for school if the bill were to pass. She also noted promises in the Baptismal Covenant to respect the dignity of every human being.“You are the first Episcopalians who have come to visit me,” Hunter said. He told Sharp, Hunt and Page that personal visits matter and encouraged them to continue the practice. “A common sense vote in the House (the bill has passed in the Senate) would neutralize these kinds of bills in the future,” he added. Hunter shared some of the complicated process of legislation and lamented the decline in civil discourse in politics in recent years. Early in July, a fire consumed Hunter’s Corpus Christi office and is still under investigation. And while Hunter seemed unruffled by the bodyguards who now stand outside his door, he was grateful for the prayers Hunt offered for him, his staff and the Legislature.“In this season of intense partisanship it is tempting for us as Episcopalians to shy away from our role as citizens,” Hunt said, “but meeting with fellow Episcopalian Todd Hunter and learning about the arson of his law office, I am reminded we are citizens together. He, and the other legislators need our support in their critical ministry as a legislators, especially now.”Texas Impact set up the Interfaith Advocacy Day and helped prioritize House members to be visited, because the House has yet to vote on the bill. According to Texas Impact, a minority misrepresent that the faith community supports the bathroom bill and it was important for legislatures to hear from others of faith who did not. “Regulating who uses what bathroom is a solution in search of a problem,” they said, pointing out that proponents could not point to a single incident not already addressed by the Texas Penal Code. Further, they said it is a waste of time when the state has real challenges.Texas Impact is a statewide religious grassroots network whose members include individuals, congregations and governing bodies of the Christian, Jewish and Muslim faiths. Texas Impact exists to advance state public policies that are consistent with universally held social principles of the Abrahamic traditions. Assistant/Associate Rector Morristown, NJ Rector Bath, NC Rector Hopkinsville, KY Submit an Event Listing Priest-in-Charge Lebanon, OH Family Ministry Coordinator Baton Rouge, LA Associate Priest for Pastoral Care New York, NY Rector and Chaplain Eugene, OR Associate Rector Columbus, GAlast_img read more

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Brunstorp / Arrhov Frick Arkitektkontor

first_img “COPY” Projects 2018 Photographs:  Mikael Olsson ArchDaily Year:  Area:  8800 m² Year Completion year of this architecture project Brunstorp / Arrhov Frick ArkitektkontorSave this projectSaveBrunstorp / Arrhov Frick Arkitektkontor Apartments Sweden ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/912243/brunstorp-arrhov-frick-arkitektkontor Clipboard Photographscenter_img “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/912243/brunstorp-arrhov-frick-arkitektkontor Clipboard CopyApartments, Residential•Huskvarna, Sweden Clients:TositoDesign Team:Carlos Nieto Cid, Roberta Corradetti, Viktor Lindström, Milan SimsicCity:HuskvarnaCountry:SwedenMore SpecsLess SpecsSave this picture!© Mikael OlssonRecommended ProductsCompositesFastmount®How to Attach Heavy Panels with Hidden FixingsMetallicsTECU®Copper Surface – Classic CoatedDoorsEGGERWood Laminate Doors in Molecular Plant Science InstituteMetallicsKriskadecorMetal Fabric – Outdoor CladdingText description provided by the architects. The site at Brunstorp, sitting just outside the city of Jönköping, tested the challenges facing the Swedish building industry. Restricted by the local market, in a sparsely populated area, was the opportunity to design 90 housing units. The fundamental task was to create cost-effective housing at a high standard of living. Save this picture!© Mikael OlssonBefore drawing began, correspondence with prefabricated manufacturers was established regarding ways of producing effective, flexible systems and principle construction details. Investigation and analysis of the local market gave insight into the particulars of the place and the inhabitants’ specific needs. Utilizing that knowledge, the program was interpreted into several typologies – traditional apartments, row houses, and larger units with generous outdoor areas. Save this picture!© Mikael OlssonSave this picture!Courtesy of Arrhov Frick ArkitektkontorSave this picture!© Mikael OlssonThe parameters of the site were maximized, creating long, narrow and north-south oriented volumes with a panoramic view to lake Vättern. According to the topography, the housing bent into three sections. Most often the plans became naturally oriented, with bedrooms to the east and living rooms to the west. A few carefully selected principles of quality were defined and defended throughout the process, such as larger areas per apartment than normal, generous balconies, and large sliding doors that open toward the balconies and views. Everything else was considered secondary and flexible. At the very top of the building it was proposed to add something unique for the inhabitants: a small sauna with an unobstructed view of the lake.  Save this picture!© Mikael OlssonProject gallerySee allShow lessC.F. Møller Architects Completes Sweden’s Tallest Timber BuildingArchitecture NewsHow Zena Howard Uses Design to Help Cities HealArticlesProject locationAddress:Huskvarna, SwedenLocation to be used only as a reference. It could indicate city/country but not exact address. Share Lead Architects: Architects: Arrhov Frick Arkitektkontor Area Area of this architecture project Brunstorp / Arrhov Frick Arkitektkontor Save this picture!© Mikael Olsson+ 10Curated by Paula Pintos Share Johan Arrhov, Henrik Frick CopyAbout this officeArrhov Frick ArkitektkontorOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsBuildingsResidentialHuskvarnaSwedenPublished on March 01, 2019Cite: “Brunstorp / Arrhov Frick Arkitektkontor” 01 Mar 2019. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPartitionsSkyfoldChoosing the Skyfold Wall for Your SpaceGlass3MSun Control Window Film in MarkthalBathroom AccessorieshansgroheBath & Shower ThermostatsCabinetsFlorenseCabinet – FloAirWood Boards / HPL PanelsBruagStair Railing – CELLON®LightsLouis PoulsenOutdoor Lighting – Flindt GardenBathroom AccessoriesBradley Corporation USAHigh Speed Hand Dryers – Aerix+BoardsForestOneLaminate – EGGER laminatesAcousticSchöckStaircase Insulation – Tronsole®Metal PanelsRHEINZINKPanel Systems – Horizontal PanelWall / Ceiling LightsA-LightAccolade Wall Light at River Dental OfficeBricksStröherClinker Brick Slips – StiltreuMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

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Ireland Funds raise target to $200 million

first_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. The Worldwide Ireland Funds has announced that it is doubling the original target for its Promising Ireland Campaign from $100 million to $200 million. Just four months ago the Ireland Funds said it was increasing its target to $150 million.The Campaign, which was due to close at the end of this year, has raised $150 million already and will be extended to the end of 2015 to reach this new goal.  The new target will require the Funds to raise on average $2 million a month, twice its current level.Over the last five years the Ireland Funds have supported over 350 charities and not for profit organizations across the island of Ireland, North and South, and Irish causes abroad.  All of the monies raised have come from private philanthropists and organizations across the twelve countries in which the Funds have a presence.Commenting, CEO of The Worldwide Ireland Funds Kieran McLoughlin said: “We are inundated by an unprecedented level of demand from Irish charities struggling to meet the demand upon them.  We are looking at a series of initiatives, in addition to our fundraising, through which we can support the sector.”The Worldwide Ireland Funds are an international philanthropic network operating in 12 countries that has raised over $450 million since 1976  for charities in Ireland and Irish causes around the world.  16 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 6 October 2013 | Newscenter_img Ireland Funds raise target to $200 million AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

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Purdue Ag Economists Make Grain Marketing Recommendations

first_img By Eric Pfeiffer – Sep 15, 2020 SHARE SHARE Facebook Twitter Facebook Twitter The soybean market had been rallying until Tuesday, eclipsing the $10 mark on the November contract. Did you take advantage of the rally?Purdue ag economist Jim Mintert says futures prices aren’t providing any incentive to store soybeans as spreads are weak. Mintert has this recommendation for those who want to do some pricing but still think about storage.“What you could do is place hedges in the nearby, the November contract, and watch those spreads as we go through the fall. Typically, they would widen out in late fall as harvest winds down and it comes to a conclusion, perhaps about the time the November contract is getting ready to go off the board or maybe as you move into the delivery month, and then if those spreads widen out you could roll those hedges forward and take advantage of the improvement in the spread. So, that would be one consideration to think about.”Mintert, speaking to his colleague Michael Langemeier during a webinar after the September Crop Production and WASDE report, says corn spreads are much stronger and there is some incentive to store.“I think the bottom line is, if you think about, ‘Do I want to store corn or soybeans right now,’ it looks like the returns would favor corn over soybeans. I think if you haven’t done much pricing, this looks like an opportunity to lock in at least a portion of your sales on soybeans based on this rally.”Mintert and Langemeier have more recommendations in the full webinar that you can view above. Purdue Ag Economists Make Grain Marketing Recommendations Home Indiana Agriculture News Purdue Ag Economists Make Grain Marketing Recommendations Previous articleAgriNovus Indiana Launches Field Atlas to Empower Students to Explore Careers in AgbioscienceNext articleAsian Countries Ban German Pork; the US to Benefit Eric Pfeifferlast_img read more

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Dismay at the European Union’s decision not to re-impose Cuba sanctions

first_img RSF_en News May 6, 2020 Find out more New press freedom predators elected to UN Human Rights Council June 14, 2006 – Updated on January 20, 2016 Dismay at the European Union’s decision not to re-impose Cuba sanctions CubaAmericas Reporters Without Borders calls for an urgent rethink of the European Union stance towards Cuba, which it termed timid and ineffective, while the state of human rights in the country had deteriorated still further since the start of 2006. October 12, 2018 Find out more Help by sharing this information Cuba and its Decree Law 370: annihilating freedom of expression on the Internet Receive email alerts October 15, 2020 Find out more News CubaAmericas News News to go further Follow the news on Cuba Reporters Without Borders has voiced dismay at the EU decision not to re-impose sanctions against Cuba, first adopted in June 2003 following a mass March 2003 crackdown against dissidents.European foreign ministers meeting in Luxemburg on 12 June 2006 decided to prolong a suspension of the sanctions until June 2007.The press freedom organisation said the ineffectiveness of its timid policy had been evident during the past three years. The council had itself recognised that the “state of human rights in Cuba (had) deteriorated further since June 2005” and that the “number of political prisoners had increased over the last 12 months”.Faced with this sad state of affairs, it would have seemed logical for the European Union to revise its position towards Cuba, it said. Certainly it would not be desirable to impose economic sanctions, but the use of political sanctions would remind the government of its obligations. This would be an appropriate instrument of pressure to persuade the Cuban authorities to accept its responsibilities on fundamental rights.Reporters Without Borders pointed out that 20 journalists are still in prison following the March 2003 crackdown and that four more were arrested during the summer of 2005. Since the 2003 “Black Spring”, journalists who are still working are subjected to constant pressure from the authorities and there has been a new wave of political repression since the start of 2006. This has taken the form of violent and intimidating acts particularly towards the independent press, illustrated by the arrest of Armando Betancourt, an independent journalist, on 23 May. The government is refusing to allow an Internet connection for Guillermo Fariñas whose health has rapidly declined since he began a hunger strike on 31 January 2006._____________________________________________________31.01.06 – Open letter to the chancellor of Austria, the EU presidency’s current holder On the eve of a European parliamentary debate on relations between the European Union and Cuba, Reporters Without Borders has written to the Austrian government, as current holder of the EU presidency, calling for the resumption of diplomatic initiatives aimed at supporting human rights and dissidents in Cuba.For the attention ofMr. Wolfgang Schüssel, Federal ChancellorMs. Ursula Plassnik, Minister of Foreign AffairsDear Chancellor, Dear Foreign Minister,Reporters Without Borders, an organisation that defends press freedom worldwide, would like to draw your attention to the plight of journalists in Cuba at a moment when the European Union is about to debate its relations with the island. We are dismayed and outraged by the Cuban government’s continuing harassment of independent journalists, who are unable to work freely or defend themselves against state repression.Cuba continues to be the world’s second biggest prison for the press, after China. Twenty journalists arrested during the March 2003 crackdown are still in prison. Four others were arrested last summer. The situation is alarming, and Reporters Without Borders calls for a stronger show of visible support and solidarity with these prisoners of conscience.Oscar Mario González Pérez of the Grupo de Trabajo Decoro independent news agency has spent more than six months in state security cells since his arrest on 22 July, on the eve of a dissident demonstration. He faces up to 20 years in prison under Law 88, which claims to protect “Cuba’s national independence and economy.” Yet no precise charge has been brought against him and the charge sheet is said to have been mislaid. His case is similar to that of Roberto de Jésus Guerra Pérez, a contributor to the exile websites Payolibre and Nueva Prensa Cubana and Radio Martí, who has been held without trial since 13 July.The Cuban authorities follow a strategy for harassing independent journalists. Llanis Meriño Aguilera, 21, the head of the Youth Against Censorship news agency, was recently threatened by two State Security officials. They ordered her to give up her journalist work and accused her of disseminating false information, which is punishable by imprisonment.The prison conditions of the 20 journalists held since March 2003 are intolerable. A number of them are seriously ill but they have no access to the treatment they need. These prisoners have been adopted by a few Members of the European Parliament but, unfortunately, not by enough of them.Defence of the universality and indivisibility of human rights is one of the EU’s basic aims. This principle must be maintained as a precondition for any attempt at dialogue with the Cuban authorities.In reaction to the recent crackdown, the EU decided on 5 June 2003 to limit high-level governmental visits of a bilateral nature, reduce the importance of member states’ participation in Cuban cultural events, and invite Cuban dissidents to national holiday ceremonies held by embassies in Havana. However, after being deemed ineffective, the sanctions were lifted on 31 January 2005 and the European Council confirmed this change of stance in June.Reporters Without Borders notes with regret that the suspension of European sanctions and the EU’s attempts at rapprochement with the Cuban regime have yielded no improvement in human rights on the island. Indeed, the Cuban authorities show no consideration for EU representatives. Two European parliamentarians who wanted to attend a congress organised by a dissident group, the Association for the Promotion of Civil Society in Cuba (APSC), were turned back on their arrival in Cuba on 17 May, while 18 others were denied visas. The Ladies in White, an organisation of wives and mothers of prisoners of conscience, were not allowed to travel to Strasbourg in December to receive the 2005 Sakharov prize, of which they were co-winners.In view of all these circumstances, we call on Austria as holder of the EU presidency, together with the other European institutions, to seriously reconsider the EU position on Cuba.I thank you in advance for the attention you give to this request.Sincerely,Robert MénardSecretary-General RSF and Fundamedios welcome US asylum ruling in favor of Cuban journalist Serafin Moran Santiago Organisation last_img read more

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Appeal court again decides to keep newspaper editor in prison – Decision on appeal to be issued on 17 June

first_imgNews Help by sharing this information News News Receive email alerts Reporters Without Borders reiterated its call for the immediate release of detained newspaper editor Ali Lmrabet after his lawyers today withdrew from the second hearing in his appeal case, accusing the court of “violating the rights of the defence.” Lmrabet attended the hearing in a wheelchair but appeared very weak from the hunger strike he began on 6 May. The appeal court is due to issue its decision on 17 June. Follow the news on Morocco / Western Sahara Morocco / Western SaharaMiddle East – North Africa News RSF joins Middle East and North Africa coalition to combat digital surveillance RSF_en June 10, 2003 – Updated on January 20, 2016 Appeal court again decides to keep newspaper editor in prison – Decision on appeal to be issued on 17 June April 15, 2021 Find out more Reporters Without Borders reiterated its call for the immediate release of detained newspaper editor Ali Lmrabet after his lawyers today withdrew from the second hearing in his appeal case, accusing the court of “violating the rights of the defence.” Lmrabet attended the hearing in a wheelchair but appeared very weak from the hunger strike he began on 6 May. The appeal court is due to issue its decision on 17 June.”Once again we have seen a travesty of justice and the judicial authorities seem bent on dragging out the ordeal,” Reporters Without Borders secretary-general Robert Ménard said. “What have they got to lose by releasing a man who started the sixth week of his hunger strike today and has no strength left.”Lmrabet’s lawyers, Ahmed Benjelloun and Abderrahim Jamaï, withdrew from today’s appeal hearing after two hours because several of their motions were rejected, including their latest request for his provisional release. A request for his release was also rejected at the first hearing on 5 June.Benjelloun said evidence submitted by the defence, namely a photo of King Mohammed’s wedding and a Paris-Match report on it, were withdrawn from the case file although one of the charges on which Lmrabet was convicted, “insulting the person of the king,” arose from a photomontage made from this photograph.The other charges on which he was convicted by a Rabat court on 21 May were “offence against territorial integrity” and “offence against the monarchy.” The court sentenced him to four years in prison, fined him 20,000 dirhams (about 2,000 euros) and banned his two satirical weeklies, the French-language Demain Magazine and its Arabic-language sister Douman. He was taken from the courtroom to a prison cell.When he began his hunger strike on 6 May, Lmrabet said he was acting to defend his rights, to put an end to repeated acts of intimidation against his printer and others who would otherwise be ready to print his weeklies, and in order to be able to enjoy the right to freedom of movement.  On 26 May, at the end of his third week on hunger strike, he was rushed from prison to Avicenne hospital in Rabat. Organisation Morocco / Western SaharaMiddle East – North Africa NSO Group hasn’t kept its promises on human rights, RSF and other NGOs say to go further June 8, 2021 Find out more Hunger strike is last resort for some imprisoned Moroccan journalists April 28, 2021 Find out morelast_img read more

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Aramark Reports First Quarter Earnings

first_img ) Tax Impact of Adjustments to Adjusted Net (Loss) Income (45)% (0.34 67 Aramark andSubsidiaries ) ) Q3 ’20Change (%) (108.05 Other financing activities — 183 ) $ $ 253,668 1,166,226 (45)% Adjusted Revenue (Organic) Other (5) $ (46)% 5.98 2,944 ) Diluted Weighted Average Shares Outstanding (29)% 15,712,684 (39.80 )% ) (12)% (9)% (10)% Total Company Diluted Weighted Average Shares Outstanding 145,883 (35)% )% (7,123 11,147 (38.09 )% Aramark andSubsidiaries Selling and general corporate expenses 7,471 Served clients operating both in-person and hybrid learning models. Higher Education experienced shortened semesters as well as reduced catering and retail activity that typically spike during the holiday season. K-12 strategically designed menus and customized solutions for in-person and curbside pickup models, while continuing to participate in universal government-sponsored meal programs. Sports, Leisure & Corrections (10)% ) Companies maintained measured return-to-work timelines. Launched exclusive home delivery solutions that extend beyond the traditional workplace setting. 668,443 ) (Loss) Income Before Income Taxes — Operating Income (as reported) )% 185 (3,414 Interest and Other Financing Costs, net (12)% (108)% RECONCILIATION OF NON-GAAP MEASURES 2,944 ADJUSTED NET (LOSS) INCOME & ADJUSTED EPS (753 Redeemable Noncontrolling Interest $ $ 694 October 2, 2020 (35)% 29,626 Q1 ’21Change (%) % (78,887 $ Adjustments to reconcile net (loss) income to net cash used in operating activities $ Q4 ’20Change (%)* $ Effect of Currency Translation 43,676 26,089 Operating (loss) income — Difference between GAAP Revenue Change and Organic Revenue Change reflects the elimination of currency translation. 0.62 Adjustment: Operating Income (Loss) 0.57 FSS United States 450,000 $ ) Q1 ’20 (108)% (115,170 ) 0.59 $186M 2,677,139 254,121 (90,776 Noncurrent Operating Lease Liabilities (6) On April 22, 2020, the Company entered into Amendment No. 9 to the Credit Agreement. Amendment No. 9 provides for a covenant waiver period which suspends the Consolidated Secured Debt Ratio debt covenant required under the credit agreement for four fiscal quarters, commencing with the fourth quarter of fiscal 2020 and ending after the third quarter of fiscal 2021, subject to certain conditions. 224,802 — (15,858 Changes in operating assets and liabilities Accounts payable $ (Unaudited) Adjusted Operating (Loss) Income ) 98,328 December 27, 2019 203,885 4,253,597 $ 647,396 50,834 ) (35) ) (0.31 (9,058 $4,254M (8) 194,314 8,925 Change ($) (107)% 138,574 Uniform Revenue Growth (as reported) ) Adjusted Revenue Growth (Organic) * May not total due to rounding. (46.34 $ $ $ (In Thousands, Except Per Share Amounts) )% Weighted Average Shares Outstanding: WhatsApp 41 4.2 (Loss) Earnings per share attributable to Aramark stockholders: $ (45)% (13 Three Months Ended $ FSS United States reported organic revenues in-line with the preceding quarter as a result of the following drivers in each business: 589,788 ) 377 14,116 FSS International Adjusted Net (Loss) Income (Constant Currency) Adjusted Operating (Loss) Income Margin (Constant Currency) 7,500 7.05 (1,218 )% Revenue Interest and Other Financing Costs, net 100,409 79,585 411,563 1,166,226 663,455 8,199 (81,380 (39,496 ) 8.5 Net (loss) income )% (81,243 1,445,587 (2)% 1,166,226 (9,058 83,255 ) ) (81,243 Offered additional project-oriented services and leveraged cross-selling opportunities with heightened demand for safety and hygiene. )% 42,099 2,276,615 264,618 $ )% ($1,193M) Cash and cash equivalents, end of period 4,785 Operating Loss of $20 million and Adjusted Operating Loss of $9 million in the quarter were due to the impact of COVID-19 on business operations. Adjusted Operating Income (AOI) drop-through was managed to 20% of the corresponding revenue decline led by effective cost discipline as well as actions taken to leverage the Company’s flexible operating model.FSS United States managed food, labor and SG&A costs that resulted in an improved AOI drop-through rate compared to the prior quarter, with continued focus on investments in growth resources.FSS International operated the business to nearly break-even that reflected applying strategies in food cost management, waste reduction and general overhead spend, despite government-imposed restrictions.Uniform & Career Apparel generated income driven by stable business performance combined with effective expense control and favorable merchandise costs, slightly offset by costs associated with increased sales talent.Corporate reflected higher equity-based compensation expense resulting from certain actions taken in the fourth quarter fiscal 2020 as described on the Company’s Current Report on Form 8-K filed on September 8, 2020. Prepayments and other current assets (0.32 ) (27)% $ ARAMARK AND SUBSIDIARIES (95,550 156,716 (11,491 ADJUSTED CONSOLIDATED REVENUE 66,996 Q1 ’21 Q1 ’20 (In thousands) $ (116,461 (78,900 $ Assets Current Assets: CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (36)% (24.54 ARAMARK AND SUBSIDIARIES *May not total due to rounding. ) Revenue (as reported) 1,431,206 145,761 (38)% ($11M) $ (41)% 1,934,463 Total current assets 3,416,105 (46)% $ FSS International $ (50 (2,651 5,343,828 Other Intangible Assets Aramark andSubsidiaries 29,066 CONDENSED CONSOLIDATED BALANCE SHEETS $ Effect of Currency Translation, net of Tax Other Assets )% (Benefit) Provision for Income Taxes $ (40.65 ) )% Liabilities and Stockholders’ Equity (0.12 147,936 *Q4 ’20 Change (%) benefits from the inclusion of the 53rd week. Goodwill Uniform & Career Apparel (120,876 ) (25,434 (78,900 ) — (29.94 (8,024 156,716 ) FSS United States Other operating activities 45,563 2,743,789 (38,180 9,178,508 1,436 332,928 (107.95 Deferred Income Taxes and Other Noncurrent Liabilities (In thousands) Q4 ’20 OrganicRevenue Change (%) (26) 138,574 (405,034 90,055 Total Stockholders’ Equity 517,171 (In Thousands) $ ) Change (%) (10)% 534 $ ) 2,735,988 2,944 (56)% 30,488 Net purchases of property and equipment and other (3,014 21,388 — ) Adjusted Net (Loss) Income (Constant Currency) (31)% 4.62 229 )% 1,648,380 Adjusted Operating (Loss) Income Growth 1,796 551,394 8,111,140 18,312 145,761 Fiscal Year Ended (171,476 FSS International ) (28.80 $ $ $ $ January 1, 2021 $ 6.72 Adjusted Operating (Loss) Income (Constant Currency) $ $ 3,951,244 (309,484 ) $ $ Revenue (as reported) Current operating lease liabilities (101.85 Effect of foreign exchange rates on cash and cash equivalents Acquisitions, divestitures and other investing activities ) December 27, 2019 (20,467 Amortization of Acquisition-Related Intangible Assets 28,825 7.73 645,600 (41.32 (45)% )% 8,209,468 1,658 ) (18,098 (315,600 FSS United States Aramark Reports First Quarter Earnings Payments of dividends $ $ (65) TAGS  Proceeds from issuance of common stock (252) (1) October 2, 2020 Adjusted Revenue Growth (Organic) — Revenue Growth (as reported) 6,154 Net cash (used in) provided by financing activities June 26, 2020 ) (187,752 Cash flows from investing activities: $ 3,247 $ (3,014 7,813 $ — 1,098,526 ($9M) Change ($) 2,535,627 Education (9,226 7.98 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 7,172 Gains, Losses and Settlements impacting comparability (Unaudited) (20,467 311,608 $ $ ) (27,911 ARAMARK AND SUBSIDIARIES ) $ Total Company (102.67 (105.64 585,833 9,851 403,624 (802,075 2,743,789 (Unaudited) ) (14,781 Facilities & Other 2,764,256 (9,409 Aramark andSubsidiaries January 1, 2021 32,094 (29) PHILADELPHIA–(BUSINESS WIRE)–Feb 9, 2021– Aramark (NYSE: ARMK) today reported first quarter fiscal 2021 results. “The resilience of our business through this dynamic period is rooted in the exceptional performance of our people on the front-lines, serving clients—many of which are essential businesses—across the globe,” said John Zillmer, Aramark’s Chief Executive Officer. “It has been remarkable to watch our team pull together in the face of such adversity, and I am proud of what we have been able to achieve as a result. Our ability to stabilize revenue, improve cash flow and maintain a steadfast commitment to cost discipline, has enabled us to navigate the COVID environment with a strong liquidity position and we believe Aramark is poised for success as the recovery across our business segments occurs.” FIRST QUARTER RESULTS* Consolidated revenue was $2.7 billion in the quarter, down 35% compared to prior year from the impact of COVID-19. Organic Revenue, which adjusts for the effect of currency, declined 36% year-over-year. Business activity across all segments contributed to stable quarter-over-quarter revenue performance on a 13-week period with sustained improvement since the trough in the third quarter of fiscal 2020. 254,121 ARAMARK AND SUBSIDIARIES $ (27)% (841 (81,380 )% $ (41)% $ (26.61 ) ) (2,009 )% 1,445,792 (32)% December 27, 2019 3,768,113 2,722,095 74 Cash and cash equivalents, beginning of period Effect of Currency Translation $ $ (81,243 (30,656 2,413,503 (644,345 Net Debt 2,364 (0.32 ) 29,066 ) 673,723 $ 602,785 )% 1,423 — ) 1,512,278 41,480 )% Total Long-Term Borrowings (1,342,962 Uniform )% ) ARAMARK AND SUBSIDIARIES )% (10,006 )% (9.82 Cash flows from financing activities: 644,270 ADJUSTED CONSOLIDATED OPERATING (LOSS) INCOME MARGIN Costs and Expenses: (78,887 331,594 $ 668 0.57 (35.49 $ (0.32 $ (34,766 ) RECONCILIATION OF NON-GAAP MEASURES (In thousands) $ Adjusted Operating Income (Loss) Pro forma EBITDA for certain transactions (4) )% (105.66 Net Debt to Covenant Adjusted EBITDA $ )% ) 46 5.32 (45.29 Amortization of Acquisition-Related Intangible Assets 6,442 2,227 (3) 29,626 WhatsApp Net cash used in operating activities RECONCILIATION OF NON-GAAP MEASURES Depreciation and amortization (0.43 Operating Lease Right-of-use Assets $ 248,731 (20,736 (28,647 Cost of services provided (exclusive of depreciation and amortization) Covenant Adjusted EBITDA 831,344 (254,605center_img January 1, 2021 208,449 Merger and Integration Related Charges Twitter (27,483 )% FSS United States (137 2,347,458 ) 2,692,150 $ Q1 ’21 OrganicRevenue Change (%) 156,716 (21)% ) ) (2) Represents the fiscal 2020 non-cash impairment charge related to goodwill and the fiscal 2019 impact from the divestiture of Healthcare Technologies. (45.55 ) (65,062 897,894 41,336 0.62 (29)% 1,445,792 (21,694 $204M 2,050,908 634,098 341,667 $ Constant-CurrencyChange (%) Uniform & Career Apparel Receivables )% Remained largely stable with focus on providing capabilities in telehealth and mobile ordering, in addition to offering post-care meal delivery to patient homes. )% (102)% )% RECONCILIATION OF NON-GAAP MEASURES Sector 831,344 Twitter 2,743,789 % (Unaudited) (12.34 Corporate 298,944 1,511,076 $ Operating (Loss) Income Growth (as reported) Tax Impact Related to Shareholder Transactions Total Company (In thousands) (38.30 $ Adjusted Net (Loss) Income )% (36)% (Decrease) increase in cash and cash equivalents $ (Unaudited) )% Commitments and Contingencies Current maturities of long-term borrowings 6.86 % Revenue Growth (as reported) FSS United States 1,068,114 3,700 Q1 ’20 (11,541 ) (9.71 (31.18 (31.87 (5) “Other” for the twelve months ended January 1, 2021 and December 27, 2019, respectively, includes severance charges ($156.3 million and $3.3 million reversal), non-cash impairment charges related to various assets ($34.3 million and $14.8 million), adjustments to remove the impact attributable to the adoption of certain accounting standards that are made to the calculation in accordance with the Credit Agreement and indentures ($24.1 million and $24.5 million), expenses related to merger and integration related charges ($21.7 million and $37.5 million), the impact of hyperinflation in Argentina ($2.5 million and $4.9 million) and other miscellaneous expenses. “Other” for the twelve months ended January 1, 2021 also includes labor charges, incremental expenses and other expenses associated with closed or partially closed client locations resulting from the COVID-19 pandemic, net of U.S. and non-U.S. governmental labor related credits ($244.0 million), non-cash charge related to operating lease right-of-use assets, property and equipment and other assets from disposal by abandonment of certain rental properties ($28.5 million), non-cash charges related to information technology assets ($26.1 million), charges related to a client contract dispute ($17.9 million), gain from the insurance proceeds received related to property damage from a tornado in Nashville ($16.3 million), a favorable non-cash settlement of a multiemployer pension plan obligation ($6.7 million) and non-cash charge for excess inventory ($5.0 million). “Other” for the twelve months ended December 27, 2019 also includes compensation expense for special recognition awards, employee training programs and retirement contributions funded by the benefits from U.S. tax reform ($76.3 million), charges related to certain legal settlements ($27.9 million), cash compensation charges associated with the retirement of the Company’s former chief executive officer ($10.4 million), closing costs mainly related to customer contracts ($8.5 million), advisory fees related to shareholder matters ($7.7 million), the gain from the change in fair value related to certain gasoline and diesel agreements ($7.5 million) and settlement charges related to exiting a joint venture arrangement ($4.5 million). 2,638,960 20,286 $ 4,253,597 $ $ $ (45)% Cash flows from operating activities: $ $ $ 145,883 (0.80 — 1,461,762 January 1, 2021 ($15M) 254,293 Three Months Ended Aramark andSubsidiaries 32,094 ) 1,932,637 )% 53,310 $ 1,648,380 604 Q1 ’21 10,064 Tax Reform Related Employee Reinvestments — % Corporate ) 174,708 (55.74 Q1 Activity 436,473 (45)% ) $ $ 254,121 Net proceeds/payments of long-term borrowings FSS International leveraged prior experiences to navigate government-imposed protocols across regions, while benefiting from continued resilience in healthcare and extractive services businesses. FSS International remained focused on executing growth strategies that delivered strong new business wins and retention rates. Europe demonstrated modestly improved levels of activity, while balancing regulatory restrictions. Rest of World experienced improvement led by ongoing growth in China as well as favorable performance trends in South America.Uniform & Career Apparel exhibited relatively steady performance with growing demand in safety and hygiene services, offset by increased government-imposed restrictions particularly in Canada. The continued investment in additional growth resources throughout the quarter as well as improved sales productivity established the foundation for future growth within the segment. (688,533 % $ $ (45.21 603,538 Effect of Currency Translation (56)% Share-based compensation expense (1) Business & Industry $ $ Three Months Ended $ Payments made to clients on contracts ) Facebook $ Adjusted (Loss) Earnings Per Share (Constant Currency) September 27, 2019 (Loss) Earnings Per Share (as reported) 4,010,761 ) 6,906,083 4.82 2,509,188 (12,516 $ $ Less: Net (loss) income attributable to noncontrolling interest 5,424 Twelve Months Ended $ $2,639M (25)% Three Months Ended FSS International 99,915 $ 21,254 ) ) $ $ % (1) Represents compensation expense related to the Company’s issuances of share-based awards. Tax Reform Related Employee Reinvestments ($215M) Uniform Change (%) 10,064 ) Healthcare ) (106.90 Uniform & Career Apparel ) )% $2,744M ) (8.64 3,999,304 — % (205 Basic Adjusted Operating Income Margin $254M ($20M) Facebook Net (loss) income attributable to Aramark stockholders ) 72,255 ) $ ARAMARK AND SUBSIDIARIES )% 176,682 ) (103.23 FSS International )% 122 Corporate 946 ) December 27, 2019 Deferred income taxes Net (loss) income — Free Cash Flow (103.29 $ Net cash (used in) provided by operating activities 2,509,188 RECONCILIATION OF NON-GAAP MEASURES 253,668 FSS United States (In Thousands) (65,062 Adjusted Operating Income (21,512 ARAMARK AND SUBSIDIARIES Adjusted (Loss) Earnings Per Share ($295M) ) (144 $ Effect of Tax Legislation on (Benefit) Provision for Income Taxes 254,121 Q1 ’21 ) 617,948 Amortization of Acquisition-Related Intangible Assets FSS United States (36.00 10.02 Uniform Total current liabilities 15,712,684 14,506,199 $ (40)% $ Net Debt/Covenant Adjusted EBITDA (6) Diluted Weighted Average Shares Outstanding 4,675,811 Operating (Loss) Income (as reported) $ (0.31 $ Net change in funding under the Receivables Facility Revenue (as reported) )% Basic NET DEBT TO COVENANT ADJUSTED EBITDA (Unaudited) )% Modestly increased activity in Sports & Entertainment as NFL teams included fans at partial capacity based on local regulations. Leisure remained steady, focused on the upcoming Spring Season in National Parks and Corrections was unchanged. January 1, 2021 December 27, 2019 Net (Loss) Income Attributable to Aramark Stockholders (as reported) (364,434 $1,446M Inventories )% Gains, Losses and Settlements impacting comparability 1,099,075 ) 2,520,515 40,188 (In thousands) Pro forma EBITDA for equity method investees (3) $ 53 (106)% $ $ 34,535 Adjusted Revenue (Organic) Unusual or non-recurring (gains) and losses (2) (13 1,000 )% $ (36)% (20,467 Operating Income Margin (as reported) 19,092 (95,550 285,788 (38,180 Diluted Adjusted Operating (Loss) Income Growth (Constant Currency) Local NewsBusiness 949,862 Depreciation and amortization FSS International October 2, 2020 $ )% 253,668 Three Months Ended Less: Cash and cash equivalents ) (34,766 ) ) $ )% (1.02 Covenant Adjusted EBITDA (0.75 (25,714 254,293 FSS International ) $ ) 694,459 % (3) Represents our estimated share of EBITDA primarily from our AIM Services Co., Ltd. equity method investment, not already reflected in our net (loss) income attributable to Aramark stockholders. EBITDA for this equity method investee is calculated in a manner consistent with Covenant Adjusted EBITDA but does not represent cash distributions received from this investee. (4) Represents the annualizing of net EBITDA from certain acquisitions made during the period. Organic RevenueChange (%) (87,351 185,954 Revenue (1,148,163 Aramark andSubsidiaries Pinterest (1.78 1,158,106 $ December 27, 2019 264,618 % 5,369,298 603,538 $ ) $ (309,484 January 1, 2021 (45.22 FSS United States 29,432 Corporate Net purchases of property and equipment and other $ 694,459 Current Liabilities: 156,716 1,193,935 — ) (115,170 Corporate $ ) $ 4,007 (103)% (14,781 Operating (Loss) Income Margin (as reported) $ ($1,510M) RECONCILIATION OF NON-GAAP MEASURES ARAMARK AND SUBSIDIARIES $ FSS International Estimated Impact of 53rd Week ) )% 427,195 )% Effect of Currency Translation GAAP SUMMARY First quarter fiscal 2021 GAAP results across all metrics were affected by the impact of COVID-19. On a GAAP basis, revenue was $2.7 billion, operating loss was $20 million, net loss attributable to Aramark stockholders was $81 million and diluted loss per share was $0.32. For the first quarter of 2020, on a GAAP basis, revenue was $4.3 billion, operating income was $254 million, net income attributable to Aramark stockholders was $146 million and diluted earnings per share were $0.57. A reconciliation of GAAP to Non-GAAP measures is included in the Appendix. CURRENCY Revenue was favorably impacted by approximately $21.7 million due to a weaker U.S. dollar, while adjusted operating loss increased by $0.2 million in the quarter. Currency had a negligible effect on adjusted loss per share. CASH FLOW Aramark maintained its focus on cost discipline that contributed to a significant cash flow improvement compared to the prior year period with Net Cash used in operating activities improved $194 million and Free Cash flow improved $225 million. This performance was led by a reduced use of cash from managing working capital and capital expenditures that more than offset the net loss in the quarter. As expected, the first quarter experienced a cash outflow associated with the Company’s seasonal business cadence, specifically related to Higher Education. In the quarter, Net Cash used in operating activities was $115 million and Free Cash Flow was a use of $180 million. CAPITAL STRUCTURE Aramark continued to operate with a strong balance sheet and focused capital allocation strategy. In the quarter, the Company took proactive actions to repay balances on its revolving credit facility and its accounts receivables facility, totaling a combined debt repayment of $1.1 billion. Aramark maintained cash availability of approximately $2.4 billion at quarter-end. DIVIDEND DECLARATION As announced on February 2, 2021, the Company’s Board of Directors approved a quarterly dividend of 11 cents per share of common stock. The second quarter fiscal 2021 dividend will be payable on March 3, 2021 to stockholders of record at the close of business on February 17, 2021. BUSINESS UPDATE Aramark remains highly focused on the pursuit of accelerated growth, while effectively controlling costs and employing cash management strategies. The Company has already realized early productivity success in areas where additional sales investment has occurred. While navigating the ever-changing environment, Aramark is working closely with clients in preparation for a business reemergence. The Company continues to promote an ownership mindset within the organization to further its collective success. Subsequent to quarter-end, Aramark adopted an Employee Stock Purchase Plan (ESPP) that encourages employee stock ownership more broadly across the organization. Under the plan, employees can contribute up to 10% of their eligible base pay toward the quarterly purchase of Aramark’s common stock, subject to an annual maximum dollar amount and other terms of the plan. The ESPP is expected to commence April 1, 2021. 2021 OUTLOOK The Company provides its expectations for organic revenue growth, Adjusted Operating Income and Free Cash Flow on a non-GAAP basis, and does not provide a reconciliation of such forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for the impact of the change in fair value related to certain gasoline and diesel agreements, severance and other charges and the effect of currency translation. The fiscal 2021 outlook reflects management’s current assumptions regarding the continued impact of COVID-19 on Aramark and its clients. The extent to which COVID-19 continues to impact business, operations, and financial results, including the duration and magnitude of such impact, will depend on numerous evolving factors that are difficult to accurately predict, including those discussed in the Risk Factors set forth in the Company’s filings with the U.S. Securities and Exchange Commission. For the balance of fiscal 2021, Aramark will continue to leverage its resilient and flexible operating model, while managing the business with a cost-disciplined, long-term mindset. The Company believes it is well-positioned to navigate the ever-changing environment with current performance expectations as follows:Organic revenue improvement over the course of the fiscal year;Updated Adjusted Operating Income (AOI) drop-through rate of 18%-22% in the second quarter as a result of improved operating efficiencies, while driving client reopenings and growth investments;Free Cash Flow lifted to a range of neutral to $200 million generation for fiscal 2021, dependent on the pace of recovery and timing of underlying growth. The Company previously stated an expected range of $100 million use to $200 million generation. Comparatively, Free Cash Flow was a use of $188 million in fiscal 2020. “Our priorities remain focused on continuing to execute on our growth strategies that leverage our flexible and proven platform, drive innovation to help our clients’ success, emphasize cost-discipline and build on lessons learned,” Zillmer added. “As we focus on our extraordinary future, we have aligned our people, values and performance to capitalize on the extensive opportunities ahead. Our belief in the Company’s success has never been stronger.” CONFERENCE CALL SCHEDULED The Company has scheduled a conference call at 8:30 a.m. ET today to discuss its earnings and outlook. This call and related materials can be heard and reviewed, either live or on a delayed basis, on the Company’s website, www.aramark.com on the investor relations page. About Aramark Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world. We deliver innovative experiences and services in food, facilities management and uniforms to millions of people every day. We strive to create a better world by making a positive impact on people and the planet, including commitments to engage our employees; empower healthy consumers; build local communities; source ethically, inclusively and responsibly; operate efficiently and reduce waste. Aramark is recognized as a Best Place to Work by the Human Rights Campaign (LGBTQ+), DiversityInc, Equal Employment Publications and the Disability Equality Index. Learn more at www.aramark.com or connect with us on Facebook and Twitter. Selected Operational and Financial Metrics Adjusted Revenue (Organic) Adjusted Revenue (Organic) represents revenue growth, adjusted to eliminate the estimated impact of the 53rd week and the impact of currency translation. Adjusted Operating (Loss) Income Adjusted Operating (Loss) Income represents operating (loss) income adjusted to eliminate the change in amortization of acquisition-related intangible assets; the impact of the change in fair value related to certain gasoline and diesel agreements; merger and integration related charges and other items impacting comparability. Adjusted Operating (Loss) Income (Constant Currency) Adjusted Operating (Loss) Income (Constant Currency) represents Adjusted Operating (Loss) Income adjusted to eliminate the impact of currency translation. Adjusted Net (Loss) Income Adjusted Net (Loss) Income represents net (loss) income attributable to Aramark stockholders adjusted to eliminate the change in amortization of acquisition-related intangible assets; the impact of changes in the fair value related to certain gasoline and diesel agreements; merger and integration related charges, less the tax impact of these adjustments; the impact of tax legislation; the tax benefit attributable to the former CEO’s equity award exercises and other items impacting comparability. The tax effect for adjusted net (loss) income for our U.S. earnings is calculated using a blended U.S. federal and state tax rate. The tax effect for adjusted net (loss) income in jurisdictions outside the U.S. is calculated at the local country tax rate. Adjusted Net (Loss) Income (Constant Currency) Adjusted Net (Loss) Income (Constant Currency) represents Adjusted Net (Loss) Income adjusted to eliminate the impact of currency translation. Adjusted EPS Adjusted EPS represents Adjusted Net (Loss) Income divided by diluted weighted average shares outstanding. Adjusted EPS (Constant Currency) Adjusted EPS (Constant Currency) represents Adjusted EPS adjusted to eliminate the impact of currency translation. Covenant Adjusted EBITDA Covenant Adjusted EBITDA represents net (loss) income attributable to Aramark stockholders adjusted for interest and other financing costs, net; (benefit) provision for income taxes; depreciation and amortization and certain other items as defined in our debt agreements required in calculating covenant ratios and debt compliance. The Company also uses Net Debt for its ratio to Covenant Adjusted EBITDA, which is calculated as total long-term borrowings less cash and cash equivalents. Free Cash Flow Free Cash Flow represents net cash (used in) provided by operating activities less net purchases of property and equipment and other. Management believes that the presentation of free cash flow provides useful information to investors because it represents a measure of cash flow available for distribution among all the security holders of the Company. We use Adjusted Revenue (Organic), Adjusted Operating (Loss) Income (including on a constant currency basis), Adjusted Net (Loss) Income (including on a constant currency basis), Adjusted EPS (including on a constant currency basis), Covenant Adjusted EBITDA and Free Cash Flow as supplemental measures of our operating profitability and to control our cash operating costs. We believe these financial measures are useful to investors because they enable better comparisons of our historical results and allow our investors to evaluate our performance based on the same metrics that we use to evaluate our performance and trends in our results. These financial metrics are not measurements of financial performance under generally accepted accounting principles, or GAAP. Our presentation of these metrics has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. You should not consider these measures as alternatives to revenue, operating (loss) income, net (loss) income, or (loss) earnings per share, determined in accordance with GAAP. Adjusted Revenue (Organic), Adjusted Operating (Loss) Income, Adjusted Net (Loss) Income, Adjusted EPS, Covenant Adjusted EBITDA and Free Cash Flow as presented by us may not be comparable to other similarly titled measures of other companies because not all companies use identical calculations. Explanatory Notes to the Non-GAAP Schedules Amortization of Acquisition-Related Intangible Assets – adjustments to eliminate the change in amortization expense resulting from the purchase accounting applied to the January 26, 2007 going-private transaction and amortization expense recognized on other acquisition-related intangible assets. Merger and Integration Related Charges – adjustments to eliminate merger and integration charges primarily related to the Avendra and AmeriPride acquisitions, including costs for transitional employees and integration related consulting costs, and charges related to plant consolidation, the implementation of a new revenue accounting system, rebranding and other expenses. Tax Reform Related Employee Reinvestments – adjustments to eliminate certain reinvestments associated with tax savings created by the Tax Cuts and Jobs Act of 2017, including employee training expenses and retirement contributions. Gains, Losses and Settlements impacting comparability – adjustments to eliminate certain transactions that are not indicative of our ongoing operational performance, primarily for income from prior years’ loss experience under our general liability, automobile liability and workers’ compensation programs ($18.1 million for the first quarter of 2021 and $10.3 million for the first quarter of 2020), the gain from the change in fair value related to certain gasoline and diesel agreements ($3.4 million for the first quarter of 2021 and $3.3 million for the first quarter of 2020), external consulting fees related to growth initiatives ($3.2 million for the first quarter of 2020), payroll tax charges related to equity award exercises by the Company’s former chief executive officer ($0.9 million for the first quarter of 2020), pension plan charges ($0.1 million for the first quarter of 2020) and other miscellaneous charges. Effect of Tax Legislation on (Benefit) Provision for Income Taxes – adjustments to eliminate the impact of tax legislation that is not indicative of our ongoing tax position based on the new tax policies, including the CARES Act for a benefit for net operating losses being carried back to prior fiscal years ($22.2 million for the first quarter of fiscal 2021) and a valuation allowance against certain foreign tax credits ($16.1 million for the first quarter of fiscal 2021). Tax Impact Related to Shareholder Transactions – adjustments to eliminate the tax impact of equity award exercises by the Company’s former chief executive officer. Tax Impact of Adjustments to Adjusted Net (Loss) Income – adjustments to eliminate the net tax impact of the adjustments to adjusted net (loss) income calculated based on a blended U.S. federal and state tax rate for U.S. adjustments and the local country tax rate for adjustments in jurisdictions outside the U.S. Effect of Currency Translation – adjustments to eliminate the impact that fluctuations in currency translation rates had on the comparative results by presenting the periods on a constant currency basis. Assumes constant foreign currency exchange rates based on the rates in effect for the prior year period being used in translation for the comparable current year period. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. These statements include, but are not limited to, statements under the heading “2021 Outlook” and those related to our expectations regarding the impact of the ongoing COVID-19 pandemic, the performance of our business, our financial results, our operations, our liquidity and capital resources, the conditions in our industry and our growth strategy. In some cases forward-looking statements can be identified by words such as “outlook,” “aim,” “anticipate,” “are or remain or continue to be confident,” “have confidence,” “estimate,” “expect,” “will be,” “will continue,” “will likely result,” “project,” “intend,” “plan,” “believe,” “see,” “look to” and other words and terms of similar meaning or the negative versions of such words. These forward-looking statements are subject to risks and uncertainties that may change at any time, actual results or outcomes may differ materially from those that we expected. Some of the factors that we believe could affect or continue to affect our results include without limitation: the severity and duration of the COVID-19 pandemic; the pandemic’s impact on the U.S. and global economies, including particularly the client sectors we serve and governmental responses to the pandemic; the manner and timing of benefits we expect to receive under the CARES Act or other government programs; unfavorable economic conditions; natural disasters, global calamities, new pandemics, sports strikes and other adverse incidents; the failure to retain current clients, renew existing client contracts and obtain new client contracts; a determination by clients to reduce their outsourcing or use of preferred vendors; competition in our industries; increased operating costs and obstacles to cost recovery due to the pricing and cancellation terms of our food and support services contracts; currency risks and other risks associated with international operations, including Foreign Corrupt Practices Act, U.K. Bribery Act and other anti-corruption law compliance; risks associated with suppliers from whom our products are sourced; disruptions to our relationship with our distribution partners; the contract intensive nature of our business, which may lead to client disputes; our expansion strategy and our ability to successfully integrate the businesses we acquire and costs and timing related thereto; continued or further unionization of our workforce; liability resulting from our participation in multiemployer defined benefit pension plans; the inability to hire and retain key or sufficient qualified personnel or increases in labor costs; laws and governmental regulations including those relating to food and beverages, the environment, wage and hour and government contracting; liability associated with noncompliance with applicable law or other governmental regulations; new interpretations of or changes in the enforcement of the government regulatory framework; the failure to maintain food safety throughout our supply chain, food-borne illness concerns and claims of illness or injury; a cybersecurity incident or other disruptions in the availability of our computer systems or privacy breaches; our leverage; the inability to generate sufficient cash to service all of our indebtedness; debt agreements that limit our flexibility in operating our business; and other factors set forth under the headings Item 1A “Risk Factors,” Item 3 “Legal Proceedings” and Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other sections of our Annual Report on Form 10-K, filed with the SEC on November 24, 2020 as such factors may be updated from time to time in our other periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and which may be obtained by contacting Aramark’s investor relations department via its website at www.aramark.com. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and in our other filings with the SEC. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us. Forward-looking statements speak only as of the date made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, changes in our expectations, or otherwise, except as required by law. 946,194 (24.54 Revenue (as reported) $ )% $286M $ Cash and cash equivalents 567,502 $ (Unaudited) ) 2,194,352 Change $ 17,975 Adjusted Revenue (Organic) )% (38) 32 557,359 Three Months Ended 568,879 (180,232 (In thousands, except per share amounts) (Unaudited) Three Months Ended (30)% 7,043,242 (21,512 View source version on businesswire.com:https://www.businesswire.com/news/home/20210209005600/en/ CONTACT: Felise Kissell (215) 409-7287 [email protected] Sullivan (215) 238-3953 [email protected] KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA INDUSTRY KEYWORD: FOOD/BEVERAGE OTHER RETAIL RETAIL PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES SOURCE: Aramark Copyright Business Wire 2021. PUB: 02/09/2021 06:30 AM/DISC: 02/09/2021 06:31 AM http://www.businesswire.com/news/home/20210209005600/en ) ) 246,643 Adjusted Revenue Growth (Organic) ARAMARK AND SUBSIDIARIES )% $ Three Months Ended 71,810 1,067,580 Q3 ’20 OrganicRevenue Change (%) Net (Loss) Income Attributable to Aramark Stockholders (as reported) Three Months Ended June 28, 2019 % (55.77 FSS International $ ) 2,152,253 By Digital AIM Web Support – February 9, 2021 Merger and Integration Related Charges Revenue (as reported) Three Months Ended 7,170,701 Uniform Diluted (21.36 1,423 14,506,199 ADJUSTED CONSOLIDATED REVENUE $ 145,761 (44,740 (Unaudited) (57,329 ) Long-Term Borrowings Corporate (12.13 — $ $ )% 629,021 $ Adjusted Net (Loss) Income $ ) ) 539,265 ) 454 1,429,031 (47) January 1, 2021 563,134 (10,390 Gains, Losses and Settlements impacting comparability 44 ) (177,059 $ $ $ 1,312,755 (Benefit) Provision for Income Taxes 9,988 Merger and Integration Related Charges 589,812 $ Uniform Depreciation and Amortization Accrued expenses and other current liabilities $ 2,029,264 Corporate (10)% 343,628 (31) Operating (Loss) Income (as reported) )% (45.48 Revenue (as reported) — 147,936 (6,051 $ (36.21 ) Net cash used in investing activities $ FSS United States Property and Equipment, net ) 253,668 ) $ ) 2,407,750 96,823 Net (Loss) Income Attributable to Aramark Stockholders (as reported) FREE CASH FLOW $ ) $ 253,668 Revenue (as reported) Share-based compensation expense 1,377 Pinterest 198,600 Previous articleMagellan Healthcare Presents Clinical Model for Serving the Behavioral Health Needs of High-Risk Children and AdolescentsNext articleBiodesix Publishes Data on New COVID-19 Artificial Intelligence (AI)-Based Algorithm for Use in Clinical Decision Support Systems Digital AIM Web Supportlast_img read more

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OC board to call election

first_img OC logo wide The Odessa College Board of Trustees will meet at 6:30 p.m. Monday in the Zant Community Room of the Saulsbury Campus Center on campus, 201 W. University Blvd. Trustees will consider calling for an election and adoption of an election order for the May 4 trustee election. President Tommy Clark, Assistant Secretary Neil Grape and member Royce Bodiford are up for election. No one has filed so far. The filing period ends Feb. 15. The college will also say farewell to Vice President for Instruction Valerie Jones, who is going to Lone Star College in The Woodlands as vice chancellor of instruction.Some of the other items on the agenda are:A report on the bachelor of arts in applied sciences degree program.A visit by Hays Elementary STEAM Academy to OC.Allisa Cornelius being named interim vocational nursing director.And the legislative session opening. Pinterest Facebook Pinterest Local News By Digital AIM Web Support – February 24, 2021 WhatsApp Facebookcenter_img TAGS  Twitter OC board to call election Twitter WhatsApp Previous articleLandgraf urges Congress for Medicaid block grantNext article4 Ways to Focus on Self-Care Digital AIM Web Supportlast_img read more

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Irish Water plans to proceed with controversial Moville Greencastle Sewage Scheme

first_img Gardai continue to investigate Kilmacrennan fire Further drop in people receiving PUP in Donegal Google+ WhatsApp Twitter Twitter Pinterest Homepage BannerNews Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Facebook Previous articleInishowen man to represent Ireland at World Summer GamesNext articleHighland’s Farming News – Thursday 14th May admin center_img Google+ By admin – May 14, 2015 Pinterest Irish Water plans to proceed with controversial Moville Greencastle Sewage Scheme Man arrested on suspicion of drugs and criminal property offences in Derry RELATED ARTICLESMORE FROM AUTHOR Irish Water say they are going ahead with the Moville Greencastle Sewerage Scheme, with work already underway on the preparation of detailed plans.Pending the awarding of a discharge licence from the EPA, Irish Water say they hope to be in a position to begin construction by the end of next year.They say thy will proceed on the basis of the project which was progressed by Donegal County Council, but rejected by the Campaign for a Clean Estuary.Spokesperson Enda Craig says the discharge licence may not be a foregone conclusion………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/05/endac530.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook 75 positive cases of Covid confirmed in North 365 additional cases of Covid-19 in Republic last_img read more

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Chairman of Labour Party in Donegal considering his position

first_img Twitter WhatsApp Google+ Facebook Chairman of Labour Party in Donegal considering his position Google+ Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest WhatsApp 75 positive cases of Covid confirmed in North The Chairman of Labour in Donegal has said that he is considering his position with the party.Earlier this week Cllr Frank McBrearty left the party, while an Irish Times opinion poll said support for the party had fallen to an all-time low.And it was also announced yesterday that Mary Harte, wife of Senator Jimmy Harte, had put herself forward to run for the Labour party in next years local elections.Party Chairman in the county, Peter Cutliffe, says he is disappointed with the party:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/10/cutliffe.mp3[/podcast] Newscenter_img Twitter By News Highland – October 4, 2013 Previous articleVoting underway in Donegal for two referendumsNext articleShay Given to be special guest at SPARKS Mental Health Roadshows News Highland Facebook RELATED ARTICLESMORE FROM AUTHOR 365 additional cases of Covid-19 in Republic Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal Gardai continue to investigate Kilmacrennan firelast_img read more

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