Mayor Domenic J. Sarno, Chief Development Officer (CDO) Tim Sheehan and Springfield Redevelopment Authority (SRA) Executive Director Amanda Pham held a press conference today announcing redevelopment opportunity for three prime downtown properties owned by the SRA. MGM Springfield President and COO Chris Kelley, Massachusetts Convention Center Authority (MCCA) Executive Director David Gibbons, Armoury Quadrangle Civic Association President Betsy Johnson, South End Citizens Council President Leo Florian, SRA Board Chair Armando Feliciano and Springfield Parking Authority Executive Director Bokul Bhuiya were also in attendance and shared their excitement and spoke about the importance of redeveloping these properties. The SRA will advance an invitation to the development community for redevelopment proposals on three prime properties owned by the SRA in the downtown. The invitation is extended to local, regional, and national developers and investors with proven success in adaptive re-use in similar markets. The three properties include 113-117 State Street, 1135-1155 Main Street, and 11-21 Stockbridge Street, and totals 130,000 gross square feet. These properties were acquired by the SRA in October of 2021 after years of real estate speculation and disinvestment which ultimately ended in bank foreclosure. The foreclosure presented an opportunity for the SRA to acquire these significant buildings, […]

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The Street is awash with AI buzz right now and anything AI-related is getting its 15 minutes of fame. The thing is, for those that have been following developments in the space, AI has not suddenly popped out of nowhere. In fact, as deep learning activity was expanding past vision applications into large language transformers, Morgan Stanley analyst Joseph Moore has been touting Nvidia’s ( NASDAQ:NVDA ) AI credentials since 2018. “At that time,” says the 5-star analyst, “we wrote that expectations for GPU technology to become a key enabler of machine learning training, and then inference workloads as well, was the reason to stay enthused about the stock despite remaining expensive on near-term numbers and cyclicality in the consumer-facing gaming business.” That said, Moore thinks that with AI now at the fore, and even though the long-term opportunity is “significant,” in Nvidia’s case, the estimates being thrown around the opportunity – particularly the revenue from ChatGPT inference – are too high. Moore reckons GPT 5 is presently being trained on 25,000 GPUs – amounting to roughly $225 million of NVIDIA hardware – and the inference costs are probably “much lower” than some of the numbers being touted. Moreover, […]

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A significant building on downtown Buffalo is currently on the market. 487 Main Street is a six-story building that is currently being occupied by: 1 st floor – Ecafé 2 nd floor – Field & Fork 3 rd floor – Investigative Post 4 th -6 th floors – Carmina Wood Design The commercial building is being sold by its owners, 487 Main Street, LLC (Steve Carmina and Chris Wood). Tyler A. Balentine of Pyramid Brokerage Company has the listing. I asked Tyler if the building has a name, and his response was, “It was called the Nellany Building a very long time ago. I’ve never heard anyone actually call it that; however. As you may recall, it was owned and operated by McDonald’s prior to Steve & Chris. So, in the 80’s & 90’s it was referred to as the McDonald’s Townhouse.” Building Features Building Address Site Area (Acres) 487 Main Street, Buffalo, NY 14203 Approximately 0.06 + Acres Building Size 14,400 Sq. Ft. Year Built Zoning 1915, Renovated in 2005 N-1D Parking Street / Ramp Elevator / Mechanicals One (1) elevator runs from floors 1-6 and is in good working order. Property Highlights Downtown Buffalo, NY Building in […]

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[FILES] Bureau de change. PHOTO: QZ Having spent billions of dollars and lost no less than N8 trillion to rent seekers who exploit the multiple rates in the foreign exchange (FX) market to rip off the country within three years between 2020 and last year, it is high time the Central Bank of Nigeria (CBN) reappraised its position on exchange rate convergence, three years after it promised same. The opportunity cost of a stronger naira is telling on the economy with no end in sight. Some of the costs of keeping the naira from hitting “the highway” include dwindling external reserves, inability to fund critical imports and manipulation of the currency by speculators and individuals who profit from the scheme. The argument to float or manage the country’s currency has lingered for many years. Either position presents compelling reasons why a position should prevail in national interest or economic sense. Considering that Nigeria most times defies basic economic rules and theories, the argument mostly swings to national interest. For any keen observer, Nigeria’s FX stability has buckled under multiple rates, a challenge that has led to speculative trading, rent seeking and other market manipulations. The Guardian had exclusively reported […]

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The Jeanes Fellows Program “recognizes teachers who possess exceptional leadership strength and commitment to excellence in educating students.” ROWAN COUNTY, N.C. (WBTV) – Natalie Currie, a first-grade teacher at West Rowan Elementary School in Cleveland, has been selected as a Jeanes Fellow. The Jeanes Fellows Program “recognizes teachers who possess exceptional leadership strength and commitment to excellence in educating students.” As a Jeanes Fellow, Currie will participate in a 2-year cohort of professionals in education across North Carolina. The Jeanes Fellowship includes opportunities for professional development, leadership, and networking and provides financial resources to establish classroom programs that will create enriching learning experiences for her students. “Attending the first Jeanes Fellows meeting was a surreal feeling. To have the opportunity to sit at the table and share in conversations with educators from different parts of the state and several different levels in education was a great feeling and an opportunity that I will not take for granted,” Currie said. The Jeanes Fellows Program, which was established in June 2022 by the Dudley Flood Center for Educational Equity and Opportunity, “is designed to provide consistent and intentional infrastructure to support community-school relationships using an equity lens.” The Program is modeled […]

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Source: Shutterstock Huntsman Corporation ( NYSE:HUN ), might not be a large cap stock, but it saw a significant share price rise of over 20% in the past couple of months on the NYSE. With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. But what if there is still an opportunity to buy? Today I will analyse the most recent data on Huntsman’s outlook and valuation to see if the opportunity still exists. Is Huntsman Still Cheap? According to my valuation model, Huntsman seems to be fairly priced at around 19.85% above my intrinsic value, which means if you buy Huntsman today, you’d be paying a relatively fair price for it. And if you believe the company’s true value is $26.12, there’s only an insignificant downside when the price falls to its real value. Is there another opportunity to buy low in the future? Since Huntsman’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. This is based on its high beta, which is a good indicator for how much the […]

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Fintel reports that Vivo Opportunity has filed a 13G/A form with the SEC disclosing ownership of 2.25MM shares of Avadel Pharmaceuticals plc ( AVDL ). This represents 3.6% of the company. In their previous filing dated February 11, 2022 they reported 2.40MM shares and 4.10% of the company, a decrease in shares of 6.23% and a decrease in total ownership of 0.50% (calculated as current – previous percent ownership). Analyst Price Forecast Suggests 56.97% Upside As of February 13, 2023, the average one-year price target for Avadel Pharmaceuticals is $12.70. The forecasts range from a low of $7.07 to a high of $19.95. The average price target represents an increase of 56.97% from its latest reported closing price of $8.09. The projected annual revenue for Avadel Pharmaceuticals is $23MM, an increase of ∞%. The projected annual EPS is -$1.08. What is the Fund Sentiment? There are 93 funds or institutions reporting positions in Avadel Pharmaceuticals. This is a decrease of 8 owner(s) or 7.92% in the last quarter. Average portfolio weight of all funds dedicated to AVDL is 0.23%, an increase of 84.45%. Total shares owned by institutions decreased in the last three months by 13.14% to 30,770K shares. […]

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Company Starts International Operations Following Costa Rica Acquisition Soul Community Planet acquired the the Glendeven Inn & Lodge and Inn at the Cobbler’s Walk in Little River, California, to combine and rebrand as the SCP Mendocino Inn and Farm. The property’s accommodations include the lodge building, as well as 15 acres of farm pastures and organic gardens. (Soul Community Planet) LOS ANGELES — Soul Community Planet, a California-based operator of lodges and boutique hotels in picturesque destinations mostly on the West Coast, expanded its portfolio outside of the U.S. in 2022, but barely scratched the surface of its growth plans, SCP co-founder and CEO Ken Cruse said. “We would have liked to have done five or six more hotel acquisitions over the course of the year,” he said. “I think this year we’re moving into a window of opportunity for deals that makes sense for us, that we can fit into our portfolio nicely and advance the brand story.” The competition for hotel deals raised prices for properties in 2021 and the first half of 2022, slowing down the company’s intended deals pace, he said. Still, SCP entered the international hospitality market by acquiring the Casa Corcovado Jungle Lodge […]

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It makes sense that school districts across the country are careful about spending money. Dollars are hard to find, and school administrators are rightfully in the habit of planning and justifying every expenditure. But when school districts have spent, on average, only 15 cents of every federal dollar they’ve received in emergency relief as a deadline to use it or lose it approaches in September 2024, it may be time for urgency to overtake caution. The money I’m talking about is the most recent outlay of Elementary and Secondary School Emergency Relief, commonly known as ESSER funds. This $122 billion of pandemic relief money, made available in March 2021 as part of the American Rescue Plan to help reopen schools, addresses mental health and gets kids caught up on learning they had lost. This money is a rare opportunity to not only help kids bridge the learning loss gap, but also help them vault forward. Most California districts, particularly larger ones, are outperforming those in the rest of the country in spending the federal relief funds, but not all. San Diego, for example, has spent only 11.3% of its most recent outlay, and several smaller districts have spent none […]

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Relentless inflation and surging grocery prices have these Americans on edge 00:00 00:0001:56GO LIVE Facebook Twitter Email Embed SpeedNormal Autoplay The consumer price index (CPI) rose 6.4% in January on an annual basis, hotter than expected, but remained steady compared to last month. The latest read presents more challenges for Federal Reserve Chair Jerome Powell who has hinted that disinflation is underway. Still, elevated costs for everyday staples remain stubbornly high. A cashier checks out a customer at a Publix grocery store. (Jeffrey Greenberg / UCG / Universal Images Group via Getty Images / File / Getty Images) The Labor Department reported that the CPI, a broad measure of the price of everyday goods that includes gasoline, groceries and rents, rose 0.5% on the month in January after a surprise decline of 0.1% in December. Annually prices remain above 6% but are down sharply from the 9.1% surge in June, which marked the highest inflation rate in almost 41 years. Customers shop in a store in Queens, New York, on Dec. 23, 2022. Still, inflation is expected to remain roughly three times higher than the pre-pandemic average on an annualized basis, underscoring the persistent financial burden placed on millions […]

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